The significance and performance of infrastructure in India

Singhal, Sonica; Newell, Graeme; Nguyen, Thi Kim

doi:10.1080/09599916.2011.544147

Cited by 28 publications

(15 citation statements)

References 7 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In a study of Indian listed infrastructure companies between 2002 and 2009, Singhal and colleagues studied the FTSE IDFC India Infrastructure top 30 index. The average annual return for Indian infrastructure was recorded to be 32 percent compared to 5.6 percent in Asia Pacific (the UBS Asia‐Pacific infrastructure index), and 8.8 percent globally (the S&P global infrastructure index) over the same time period (Singhal, Newell, and Nguyen ). For the 20 infrastructure funds listed on the Australian Stock Exchange (as at 31 December 2010), the average annual percentage return of the funds for the one year, three year and five year periods were −1.5 percent, −12.9 percent, and −2.8 percent respectively (ASX ).…”

Section: Resultsmentioning

confidence: 99%

The Role of Information Density in Infrastructure Investment

Sharma

Knight

2016

Growth and Change

View full text Add to dashboard Cite

The twentieth century witnessed an extraordinary flow of institutional investment into urban infrastructure. Notwithstanding this, the demand for infrastructure projects exceeds supply of skills and capital. With this disconnect as a backdrop we develop a model of information flow to examine how financial assets are transacted over time and space. Specifically, we build on conceptualisations of "information content" from Clark and O'Connor (1997) to propose a way of theorising "information density". We apply this specifically to infrastructure investment and find four ways in which infrastructure investment is highly dense. This relates to asset-level definitions in infrastructure, opacity with respect to how products are securitised, high variance in investment performance, and high relational and investment expertise. We draw on a large qualitative sample of 53 in-depth interviews, which we validate with quantitative data, to support our findings.

show abstract

Section: Resultsmentioning

confidence: 99%

The Role of Information Density in Infrastructure Investment

Sharma

Knight

2016

Growth and Change

View full text Add to dashboard Cite

show abstract

“…Private investment is expected to be an essential component in India's infrastructure development. In this regard, the study by Singhal et al (2011) assesses risk-adjusted performance and portfolio diversification benefits of listed infrastructure companies in India over the period [2002][2003][2004][2005][2006][2007][2008][2009]. It finds strong riskadjusted returns compared to the other infrastructure sectors in the Asia-Pacific area and globally, as well as in comparison with Indian stocks and global stocks.…”

Section: Literature Reviewmentioning

confidence: 99%

Infrastructure Equity and Firm Performance in India

Hasnat

2020

Millennial Asia

View full text Add to dashboard Cite

The growing financing requirements coupled with tightening of fiscal purse strings point to the pertinence of market-based finance for infrastructure provision and enhancement. For this, the question of the sectoral performance of infrastructure takes centre stage and this becomes the basis for the present study. The study assesses the risk-return and volatility profile of Nifty Infra, the National Stock Exchange (NSE) sectoral index for the 30 biggest infrastructure firms in India vis-à-vis the broader Nifty 50 for the time period 2010–2018. The study employs the standard financial economic analysis methods of capital asset pricing model (CAPM) and generalized autoregressive conditional heteroskedasticity in mean (M-GARCH) model and finds the sectoral equity performance of infrastructure to be marginally below that of a broadly diversified index. Further, the study analyses the cash flow and leverage characteristics which are imperative factors in medium-term risk-return profile of infrastructure stocks. The disaggregated firm level analysis of 10 select firms reveals that rent-like return does exist for the biggest players in the sector due to past installed capacities, while the subcontracting mechanism percolates to meagre cash flows for smaller players, partly bearing the greenfield risks. This suggests the need for state-induced measures to prop up liquidity in equity trade for infrastructure firms. This would not only enhance the risk-return profile but also mitigate excessive volatility for these heavily leveraged firms.

show abstract

“…Similar conclusions were obtained in other studies. In particular, improving infrastructure is seen as a crucial factor in India's continued economic growth and urbanization processes (Singhal et al, 2011). The importance of holistic, integrated management of the country's infrastructure assets is illustrated in the studies of Amador-Jimenez and Willis (2012).…”

Section: Introductionmentioning

confidence: 99%

Public-private partnership in Russia: Problems of regional development

al.¹

2021

Int. j. adv. appl. sci.

View full text Add to dashboard Cite

Social infrastructure provides the development of the territory of regions and countries. Public-private partnership is currently one of the most important tools for modernizing social infrastructure. A modern analysis of publications on infrastructure development shows a high interest of scientists in this issue: The relationship between quantitative and qualitative indicators of infrastructure functioning and socio-economic development of territories, and the dysfunction of management practices are studied. At the same time, the scientific literature does not sufficiently study issues related to a comprehensive assessment of the level of development of public-private partnership, restrictions, and prospects for interaction between government and business on the development of social infrastructure at the regional level. The purpose of this article is to identify the limitations and prospects of interaction between government and business on the development of social infrastructure at the regional level in the Russian Federation based on an integrated assessment of the level of PPP development. The main method of this research is an expert survey of civil servants and representatives of the business community in the Moscow region. The results of the study revealed a low level of mutual trust between business and government, and an average level of PPP development at the regional level. It is concluded that to assess the depth of development of the PPP mechanism in the region, it is necessary to include criteria that demonstrate the evaluation of these projects by the PPP participants themselves. Assessment of the level of PPP in the region should be integral, contain both quantitative indicators (financial and economic) and qualitative (assessment of PPP participants). The strategic direction of PPP development should be to increase the involvement of all stakeholders, taking into account their views in making management decisions in this area. This will help to increase the transparency and openness of the relevant procedures and will allow timely identification of dysfunctions that arise as a result of interaction between government and business.

show abstract

The significance and performance of infrastructure in India

Cited by 28 publications

References 7 publications

The Role of Information Density in Infrastructure Investment

The Role of Information Density in Infrastructure Investment

Infrastructure Equity and Firm Performance in India

Public-private partnership in Russia: Problems of regional development

Contact Info

Product

Resources

About