PurposeThe purpose of the study is to examine the moderating impact of absorptive capacity on the foreign direct investment (FDI)–growth link using the data for the period 1995–2019.Design/methodology/approachThe authors apply the autoregressive distributed lag (ARDL) model and threshold analysis for empirical analysis.FindingsThe findings indicate that the link between FDI and economic growth is influenced indirectly by absorptive capacities, such as financial development, institutional quality, technological capability, and trade openness. However, while examining the linear FDI–growth nexus, the authors noticed that human capital and infrastructure did not affect the relationship; when the non-linearity in the link is considered, the authors noted that all absorptive capacities (including human capital and infrastructure), when interacted with FDI, have a positive effect on growth. Furthermore, FDI stimulates growth if the absorptive capacities have exceeded a certain threshold level.Research limitations/implicationsFrom a practical standpoint, it is reasonable to conclude that improving absorptive capacities is critical in order to perceive FDI as a growth driver.Originality/valueIndia has been able to position itself as a preferred destination for FDI (when the major economies are facing a sharp decline in FDI inflows) despite the Covid-19 pandemic. However, it still suffers from low growth. Although much of the literature admits that absorptive capacity is crucial for FDI to promote growth, no study in the case of India examines FDI–growth nexus conditioned upon absorptive capacity. Moreover, the authors have used threshold analysis for assessing the non-linearities in FDI–growth nexus contingent on absorptive capacity.

Capital structure choice is a corporate decision which provides a combination of securities used to finance the investment requirements ( Myers, 2001 ). That the ownership of a firm influences its decision-making process is a well-accepted economic proposition. Due to liberalization and continuous measures initiated by the Indian government to make India more business-friendly, foreign ownership has assumed a prominence in many Indian firms. In this regard, this article aims to examine the impact of foreign ownership on the financing mix, employing the data of non-financial firms constituting the Nifty 200 index, for the period 2007–2018; the data have been extracted from Bloomberg® and Ace Equity®. Using the generalized method of moments (GMM) technique for empirical analysis, the study observes that there is a statistically significant negative relationship between foreign ownership and leverage.

Active pharmaceutical ingredients (APIs) typically consist of solid therapeutic particles that may acquire electrostatic charge during milling and grinding operations. This may result in the agglomeration of particles, thereby reducing the flowability and affecting the homogeneity of the drug formulation. Electrostatic charge build-up may also lead to fire explosions. To avoid charge build-up, APIs are often coated with polymers. In this paper, atomic layer deposition (ALD) using metal oxides such as Al2O3 and TiO2 on APIs, namely, palbociclib and pazopanib HCl, has been utilized to demonstrate a uniform coating that results in a significant reduction in the surface charge of the drug particles. Kelvin probe force microscopy (KPFM) shows a 4-fold decrease in the surface contact potential of uncoated pazopanib HCl (2.3 V) to 0.52 and 0.82 V in TiO2-and Al2O3-coated APIs, respectively. Also, the ζ potential indicated a 4-fold decrease in the surface charge on coating pazopanib HCl, i.e., from −32.9 mV to −7.51 and −8.51 mV in Al2O3 and TiO2, respectively. Surface morphology, thermal stability, dissolution studies, and cytotoxicity of the drug particles after coating were also examined. Thermal analysis indicated no change in the melting temperature (T m) after coating. ALD coating was found to be uniform and conformal as observed in images obtained from scanning electron microscopy (SEM) and scanning electron microscopy–energy-dispersive X-ray spectroscopy (SEM–EDS). The rate of dissolution was found to be delayed by the coating, and thus ALD offers slower drug release. Coating APIs with TiO2 and Al2O3 did not induce statistically significant cytotoxicity compared to the uncoated samples. The results presented in this study demonstrate that ALD coating can be used to reduce surface charge build-up and enhance the bulk properties of the drug particles without affecting their physicochemical properties.

Overcoming the loopholes in the existing indirect tax regime, Goods and services tax (GST) is a major indirect tax reform in India. India is very close to its implementation, tentatively from 1 July 2017 as announced by Sri Arun Jaitely, the current Finance Minister. Goods and services tax (GST) is a nationwide tax levied on supply of goods and services in India. It is a destination based value added tax levied at each stage in supply chain right from the manufacturer to the consumer with benefit of input tax credit at each stage thereby eliminating cascading effects. The final consumer thus will bear only the GST charged by the last dealer in the supply chain. The proposed GST regime is expected to bring a basket of benefits for the entire economy thereby favouring its implementation at the earliest by overcoming all the challenges. Proper planning, administration, timely guidance to the industry and training to both the tax officers and payers on GST will aid its smooth implementation.

PurposeThis study attempts to assess the role that institutional quality (IQ) plays in influencing inflows and outflows of Foreign Direct Investment (FDI) for BRICS nations as burgeoning FDI is flowing into and out of these countries. Moreover, this paper explores the impact of individual governance indicators separately on the FDI flows.Design/methodology/approachThe study analyses this nexus for these emerging economies for the period 1996–2019 using autoregressive distributed lag technique.FindingsThe study indicates a significant and positive coefficient for IQ in India and South Africa, suggesting that improving IQ would enhance the IFDI. However, for outward FDI (OFDI)–IQ linkage, the results show a negatively significant impact of IQ on OFDI for Brazil and Russia. Additionally, the authors observe control of corruption as a significant institutional component for attracting inward FDI for Brazil, India and South Africa, whereas it is an insignificant factor for Russia and China. Further, the authors notably find that upgrading the governance indicators will decrease the level of OFDI for Brazil, Russia, China and South Africa. On the contrary, findings suggest that improving the IQ will foster the OFDI for India.Originality/valueThis study uses time-series analysis instead of cross-country analysis (used extensively in literature), avoiding heterogeneity. Further, this study explores the IFDI–IQ link for BRICS nations, which are captivating a significant chunk of IFDI, and still not given much attention in the extant literature. Moreover, the authors identify the impact of IQ on the OFDI, neglected by the existing studies.