TITLE:
Does Innovative Financing Increase the Firm Performance? An Empirical Investigation of Indian Manufacturing Firms
AUTHORS:
Narender Vunyale, Nemi Raja, Raveesh Krishnankutty
KEYWORDS:
Firms’ Performance, Innovative Firms’, Innovative Financing, Innovative Debt, Value of Firm, Indian Manufacturing Firm
JOURNAL NAME:
Theoretical Economics Letters,
Vol.6 No.2,
April
27,
2016
ABSTRACT: The firms mobilizing resources using innovative debt from market reduce
dependence on the traditional banking and financial institutions. The firms
raising resources by directly approaching public have some incentive to do so, i.e., innovative firms will be able to
better plan commitments of future cash outflow and inflow, increase the
borrowing capacity, save taxes, etc. to create higher value to the
shareholders. In this paper we have made an attempt to test whether such
innovative firms’ performance is higher than other firms. We also tried to
understand if more variety of instruments helped create better value of share
in the market for such firms.