A Comparative Study of the Performance of Government Promoted Firms and Non-Government Promoted Firms: Evidence from India.

Promoters play a very important role in the performance of companies. In India, the average holding of promoters is very large at around 54%. These promoters are either government or private individuals and business houses. India started the privatization process in a big way in the early 1990s and also started disinvesting stakes in major public sector companies, while retaining a minimum of 51% stake in a majority of companies, in effect keeping the control. The paper with an objective to study whether there exists a significant difference in the performance of government promoted firms and private firms and found a significant difference in the performance between them using both independent sample t-test and pooled panel data regression. The paper is based on the data of public listed companies in India over a period of 11 years (2008-2019). [ABSTRACT FROM AUTHOR]