Impact of different dimensions of globalisation on firms' performance: an unbalanced panel-data study of firms operating in India Online publication date: Tue, 02-May-2023
by Balraj Verma; Amit Srivastava
World Review of Entrepreneurship, Management and Sustainable Development (WREMSD), Vol. 19, No. 3/4/5, 2023
Abstract: The present study, based on three unbalanced panel data models, analyses the impact of the economic, political and social dimensions of globalisation on the performance of firms operating in India using ROA, ROCE and ROI as a proxy of firm's financial performance. To the best of authors' knowledge, this is the first study of its kind not only for India but also for the extensiveness of the sectors used. The study is based on the financial data from 2000 to 2017 of 912 companies ranging into 14 different sectors of the economy. The result showed the significant positive and significant negative effect of the economic and political dimensions of globalisation respectively on firms' performance. Yet positive but social dimension failed to establish a significant impact on firm performance. Out of the 14 selected sectors, only three sectors - Textiles, Communication and Transport Services, showed lower growth in comparison to other sectors.
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