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100			_aKrishnakumar, Dipali and Sethi, Madhvi _952479
245			_aDeterminants of Wilful default in emerging economies: Evidence from India
260			_aEconomic & Political Weekly
300			_a60(6), Feb 8, 2025: p.43-49
520			_aAre wilful defaulters different from non-defaulter firms in terms of financial and governance characteristics? Do these characteristics impact the probability of wilful default? The role of related party transactions for wilful defaulters is examined. Logistic regression model results indicate that wilfully defaulting firms are likely to be financially constrained as they have lower cash flows from operations, lower interest coverage, and higher leverage compared to non-defaulter firms from the same industry. However, these firms are more likely to have manipulated their earnings and have a higher proportion of related party expenses. Governance plays an important role as wilful defaulting firms have lower shareholding by promoters and smaller boards.- Reproduced https://www.epw.in/journal/special-articles/determinants-wilful-default-emerging-economies.html
773			_aEconomic & Political Weekly
942			_cAR