Cohorts definition:
- Post-liberalisation sample:
- firms incorporated in any of 1992/1993/1994
- with first year of reporting within three years
of incorporation
- Credit boomers sample:
- firms incorporated in any of 2000/2001/2002
- with first year of reporting within three years
of incorporation
- Post 2008 sample:
- firms incorporated in any of 2008/2009/2010
- with first year of reporting within three years
of incorporation
Variable definition:
- Debt: Debt on a firms balancesheet adds
to the total amount of money it is expected to pay
to its creditors. The components used to arrive at
firm's total debt are total borrowings (all types),
paid up preference capital, share application money
no transferred to share capital account, and shares
that have been allotted but not yet issued (in the
share suspense account). This indicates to the total
sum of money that has to be repaid by the firm over
time.
- Total equity: Total equity refers to the
value of the firm after all its liabilities are
repaid. It has been computed as sum of equity
capital (both paid up and forfeited) and
reserves. Revaluation reserves are removed from
reserves to maintain comparability between
firms. Miscellaneous expenses are also deducted
since these have already been incurred, and are no
longer part of the firms own funds.
Database used: CMIE ProwessDX
