IJSR - International Journal of Scientific Research

Prof.(Dr.) Bharat J.Acharya

Volume : VI, Issue : V, May - 2017

A STUDY ON IMPACT OF LIBERALIZATION REFORMS ON CAPITAL STRUCTURE OF SELECTED LISTED INDIAN COMPANIES

Prof. Dr. Bharat J. Acharya

Abstract :

This paper attempts to analyse impact of liberalization reforms on capital structure of selected listed IIndian companies Descriptive analysis using ratios and Regression analysis are used to estimate the iimpact of regulatory policy changes on various components of capital structure. Indian companies have also adopted new domestic routes of capital issues like book–building offer, private placement in the form of QIP during post reform period in addition to traditional routes like IPO,FPO, rights issues and ESOP. Debentures and bonds have been issued by Indian companies in domestic capital market through public issue and private placement. The international sources of funds like ADR,GDR,EDR,SDR,ECB,ENCB have been by Indian companies heavily during post reform period to raise funds from foreign capital market. Descriptive and statistical analysis of the data was done to assess the impact of change in regulatory policy on issue of domestic equity for selected companies during post reform period