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Corporate Economy Expressions Markets Leisure 21 February 1998   Of morals and ethics Foreign institutional investors have been saying that they have little confidence in the ethics and and moral standards of Indian corporates. As a result, the country has been losing out on foreign portfolio investment.   Stability drives recovery "The management of the IMF welcomes the timely decision of the Indonesian authorities. The floating of the rupiah, in combination with Indonesia's strong fundamentals, supported by prudent fiscal and monetary policies, will allow its economy to continue its impressive economic performance of the last several years." Winning the investment game in turbulent times The week gone by has seen the Sensex hanging on to its new perch. Quitepossibly the close proximity of the post-election scenario has instilledsome confidence in operators to hang on to these levels. But there isnothing like fortifying oneself in avoiding the wrong scrips and sticking only to really valuable stock. The Indian bourses cannot do without FII support. Corporate debt and governance: Recent scenarios In a pathbreaking article in the Journal of Political Economy 1958, nobel laureates Modigliani and Miller (they got their prizes in separate years) enunciated the famous M-M theorem which revolutionised the theory of modern corporate finance.   Are plant assembly, installations excisable? There has been a continuing battle between industry and excise authorities whether goods manufactured or produced is excisable? Central Excise Act imposes a duty on "all excisable goods produced or manufactured in India". It is well settled that the "goods" be movable and marketable. Industrial slack Industrial growth remains stubbornly low: 4.7 per cent in April-December of this fiscal against 8.6 per cent in the corresponding nine months of 1996-97. Hopes of a strong pick up after Diwali are receding.