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首页> 外文期刊>Journal of advances in management research >Determinants of private equity investment across sectors in India
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Determinants of private equity investment across sectors in India

机译：印度各行业私募股权投资的决定因素

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Purpose - The purpose of this paper is to explore country-specific and firm-specific factors responsible for attracting private equity investment across sectors in India. Design/methodology/approach - The analysis involves three macroeconomic variables (rule of law, net FIIs and interest rate) across six sectors. Also, three firm-specific variables (ROE, DTA and EBITDA margin) for 89 companies with private equity across five sectors. OLS, Prais-Winsten, multinomial logit and probit regression models have been used for analysis. Findings - The findings show that while rising foreign investments drive PE activity in energy and engineering and construction is one sector, strong legal structures and rising interest rates are the drivers of PE activity in the healthcare sector. In firm-specific analysis, though the profitability and leverage effect is invisible in the industrials and healthcare sectors, it is quite significant in IT and telecom is one sector and commodities sector. Research limitations/implications - Results are subject to limited data on private equity in different sectors. There is a lack of data for comparison on companies belonging to certain sectors like real estate, infrastructure, etc. A limited literature is available for reference purpose. Research findings may serve as preliminary criteria for private equity investors seeking investment in India. Originality/value - The value of this research is in the identification of most relevant macroeconomic and firm-specific factors for private equity investors seeking investment across sectors in India.
机译：目的-本文的目的是探讨负责吸引印度各个部门的私募股权投资的特定国家和特定公司的因素。设计/方法/方法-分析涉及六个部门的三个宏观经济变量（法治，净FII和利率）。此外，针对五个领域的89家拥有私募股权的公司，有三个公司特定的变量（ROE，DTA和EBITDA利润率）。 OLS，Prais-Winsten，多项式logit和概率回归模型已用于分析。调查结果-调查结果显示，尽管外国投资的增长推动了能源领域的PE活动，而工程和建筑业是一个部门，但强有力的法律结构和利率上升是医疗行业PE活动的驱动力。在针对公司的分析中，尽管在工业和医疗保健领域看不到利润率和杠杆效应，但在IT领域却非常重要，而电信是一个部门和大宗商品部门。研究的局限性/意义-结果受制于不同部门的私募股权数据有限。缺少数据来比较属于某些行业的公司，例如房地产，基础设施等。有限的文献可供参考。研究结果可以作为寻求在印度投资的私募股权投资者的初步标准。原创性/价值-这项研究的价值在于为寻求在印度各个部门进行投资的私募股权投资者确定最相关的宏观经济和企业特定因素。

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