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Heterogeneity of Growth and Corporate Profitability

S.N. Dash (Author) H C Das (Author)

An attempt has been made in this study to find the relationship that exists between growth and profitability, liberalization policy of the government and its effect on profitability of corporations. Answers to certain fundamental questions have been incorporated in the study.

It is believed that a company because of its high growth rate in assets yields higher profitability than the companies with lower growth rate of assets. The problem of growth effect on profitability of corporate sector lie on the heart of our enquiry. Our interest centers on the question whether there exists any relationship between growth and profitability. Further, do liberalization policy of the government has any impact on the profitability of varying growth groups of manufacturing concerns as revealed from the cross section analysis of back and forth of 5 years of declaration of liberalization policy of the Government of India in 1991. Thus, the focus of the study is to show the relationship between growth and profitability and liberalization and profitability. In other words the study is to exhibit the relationship between growth and profitability in the context of liberalization policy of the government. The present study focuses on comparative corporate performance of different growth categories of firms with regard to profitability between pre and post liberalization period. It, therefore, seeks to study the liberalization effect on profitability of manufacturing firms, along with growth effect.

To illustrate the inter-dependence between growth-profitability and liberalization policy-profitability, this survey is divided into six chapters. Chapter one deals with introduction on the subject. The second chapter discusses the theoretical framework of the study, while the third chapter covers the methodology and research design of the work. Chapter fourth is meant for the cross-section analysis of growth-profitability relationship during pre and post-liberalization period with the help of ratio analysis and other statistical tools. An attempt has been made in chapter five to study and analyze the extent of relationship that do exist between the different determinants of the financial ratios examined in the study with the help of correlation analysis. Summary of the findings, test of hypothesis, concluding remarks find their respective places in the last and concluding chapter i.e. in the chapter six. Suggestions have also been offered at the end of the study for the maximization of profitability by varying growth group of firms and to derive the optimum benefit of the liberalization policy of the Government of India.

It is, therefore, in the fitness of things that efforts are made in this piece of work to find out growth effect on the profitability of corporate sector, that too, for the period from 1986-87 to 1995-96, when liberalization policy measures being advocated and followed by the Government of India. We hope this study would be both light-giving and fruit-bearing to researchers of this line.

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About the author

S.N. Dash

Surendranath Dash, M.A., Ph.D. born in 11th January 1949 at Ratanpur (Khurdha), educated at Ravenshaw College, Utkal University, orissa, India. Acclaimed as a popular teacher for over three decades and more in Rajdhani College, B.J.B. (Auto) College and P.G.Dept, of Oriya, Utkal University. To his credit the author has guided a score of scholars both in M.Phil, Ph.D and D.Lit., on Sri Jagannatha Culture and literature. He has written five volume on different aspects of Sri Jagannatha Sanskriti and treaties, etc. All these books have been contained the token of philosophy, rituals, fair and festivals etc. on Sri Jagannatha Chetana. Besides, participating in national and international seminars from time to time regularly. The author has published more than fifty research papers in different research Journals, books, proceedings and volumes. Currently engaged in further research work on Sri Jagannatha temples in the world and lexicography on Sri Jagannatha funding by U.G.C. He is associated with many national, regional and intellectual organizations. Particualy, the founder secretary of Shri Jagannatha Research Institute, Bhubanswar, Orissa. He has visited two countries i.e., U.K. and Arab in search of research materials. Prof Dash has retired from Utkal University as Prof. and Head Deptt. Of Oriya on January 2009.

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Bibliographic information

Title Heterogeneity of Growth and Corporate Profitability
Format Hardcover
Date published: 07.04.2012
Edition 1st. ed.
Language: English
isbn 9789381136546
length xii+224p.