The Marwaris Page 13

  32.Goodwin, ‘How the Rich Stay Rich’. Technically, what is involved is not a trust because of the Statute of Perpetuities, but a special form of corporation.

  33.Knowledge@wharton, ‘The New “Right-Hand Men”’. See also Cohen, Tradition, Change and Conflict in Indian Family.

  34.Das, India Unbound, 266.

  35.Leahy, ‘Ambani Brothers Agree Peace Deal,’ Financial Times, 24 May 2010.

  36.Kudaisya, The Life and Times of G.D. Birla, 192, 195

  37.Ibid., 394–95.

  38.Piramal, Business Maharajas, 164–74.

  39.Ibid., 173.

  40.Batala, ‘Zaibatsu Development in the Philippines’, 18–49.

  41.Hunt, Marx’s General, 209–10, 237–38, 261.

  42.Saxena, ‘Succession in Indian Business Houses’.

  43.Piramal, Business Maharajas, x–xi, 300–07.

  44.Ibid., 229–32.

  45.Ibid., 223–24.

  46.‘The Rise, Fall and Rise of Indian Business Families’, available online at http://www.businessandeconomy.org/14122006/storyd.asp?sid=641&pageno=19.

  47.Talreja, ‘Succession in Indian Family Firms’, 29.

  48.Wikipedia, ‘Corporate Groups’, en.wikipedia.org/wiki/Corporate_group.

  49.Rice, Productivity and Social Organization, 204ff.

  50.‘Here Be Dragons’, Economist, 17 April 2010.

  51.Ibid.

  52.Desai, ‘Capitalism by Accident’, 38–39.

  53.‘The Korean Discount’, Economist, 11 February 2012.

  54.Bloom, et al., ‘Why Do Firms in Developing Countries Have Low Productivity?’, 619–23.

  55.Already referred to by Khanna and Palepu. For a key argument for the importance of political influence, see Bardhan, ‘Notes on the Political Economy of India’s Tortuous Transition’; or Kali and Sarkar, ‘Diversification, Propping and Monitoring’. For allegations of exploitation of the enterprises see Bertrand, Mehta and Mullainathan, ‘Ferreting Out Tunneling’, 121–48, and for an answer using another set of data and methodology see Siegel and Choudhury, ‘A Re-examination of Tunnneling and Business Groups’. These are only illustrative of a larger set of studies in each case, often covering other countries and related issues.

  56.Kali and Sarkar, ‘Diversification, Propping and Monitoring’, 1.

  57.Damodaran, India’s New Capitalists. A more academic formulation is Varshney, ‘Two Banks of the Same River?’, 225–56.

  Afterword

  1.Tandon, The Punjabi Saga.

  2.K.K. Birla, Brushes with History, 61; B.K. Birla, A Rare Legacy.

  3.Benjamin and Rath, ‘Modern Indian Business History’.

  4.Bhagat, One Night @ the Call Center; Bhagat, The Three Mistakes of My Life.

  5.Sankar, Chowringhee.

  6.Prindle, Made in Japan and Other Japanese ‘Business Novels’; Gordon, ‘Japanese Business Novels’; Davies, ‘The Financial Fiction Genre’.

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