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Methodology For the purpose of the present study, secondary data have been used. The secondary data have been collected from published reports of selected Indian public sector enterprises and records of Government of India. Statistical test has also been applied in appropriate context. Ratio analysis, mean, standard deviation, co-efficient of variation, and student ‘t’ test are used to analyze the data. Results and Discussion An attempt has been made to study the impact of disinvestment in Oil and Natural Gas Corporation Ltd, Steel Authority of India Ltd., Mahanagar Telephone Nigam Ltd. and Shipping Corporation Ltd. with the help of certain identified indicators such as operating performance based on sales, investment and employment and corporate liquidity, financial strength and asset usage. Research Methodology To achieve above mentioned objectives seven companies had selected out of which three are from Maharatna i.e., Coal India Limited, Oil And Natural Gas Corporation, Steel Authority Of India Limited and three from Navaratna i.e., National Aluminum Company, Rural Electrification Corporation, Engineers India. To study financial performance of selected companies following vital ratios had selected which will indicate overall financial performance of companies PBIT, Net Profit, Equity Ratio, Assets Ratio and Capital Employed Ratio. The period of the study is from 2007 to 2017 and 2012 is considered as base year. The data had been collected from various secondary sources like official websites, search engines, articles and etc. Paired T-test used for testing the statistical significance and this test is applied not only for ratio performance but also effect of disinvestment on the basis of pre and post disinvestment
研究方法 本研究采用二手数据,数据采集自选定印度公共部门企业的公开报告以及印度政府档案。研究在适宜场景下运用了统计检验方法,具体包括比率分析、均值、标准差、变异系数以及学生t检验,以开展数据分析。 结果与讨论 本研究尝试分析石油天然气有限公司(Oil and Natural Gas Corporation Ltd)、印度钢铁管理局有限公司(Steel Authority of India Ltd.)、马汉加电话尼甘有限公司(Mahanagar Telephone Nigam Ltd)以及印度海运有限公司(Shipping Corporation Ltd)的国有股撤资(disinvestment)影响,选取的衡量指标包括基于销售、投资与就业的运营绩效、企业流动性、财务实力与资产使用情况。 研究方法论 为达成前述研究目标,本研究共选取7家企业作为样本,其中3家为马哈拉特纳(Maharatna)级企业,即印度煤炭有限公司(Coal India Limited)、石油天然气有限公司、印度钢铁管理局有限公司;另外3家为纳瓦拉特纳(Navaratna)级企业,即印度国家铝业有限公司(National Aluminum Company)、印度农村电力公司(Rural Electrification Corporation)以及印度工程公司(Engineers India)。 为分析选定企业的财务表现,本研究选取了以下核心比率以反映企业整体财务绩效:息税前利润(PBIT)、净利润、权益比率、资产比率以及资本雇用比率。 本研究的时间跨度为2007年至2017年,其中2012年被设定为基期。数据采集自各类二手渠道,包括官方网站、搜索引擎、学术文章等。 本研究采用配对t检验(Paired T-test)开展统计显著性检验,该检验不仅用于比率绩效分析,还基于国有股撤资前后的维度分析撤资的影响。




