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Purpose: The aim of this paper is to study whether adoption of sustainability policies by firms makes their stock market performance resilient to the downside risk during the crisis period. Design/methodology/approach: The paper empirically examines the relationship between environmental, social and governance (ESG) and stock market performance for Indian companies that have consistently been a part of Refinitiv Eikon ESG database. Further, the study examines whether there exist significant differences in stock market performance of high ESG and low ESG-compliant firms during crisis period. The sample was made up of 70 Indian firms studied over the period 2016–2019 defined as "normal period" as well as for the declared COVID-19 crisis period, i.e. January–March 2020, and full year 2020. The authors used multivariate panel data regression, robust least square multivariate regression, pooled OLS model and two-stage least square regression method. Findings: The study extends the existing literature by investigating the impact of ESG performance on market value of firms during the crisis period. Based on the stakeholder and "flight to safety" theory, the authors hypothesized that ESG would have significant positive effect on the stock market performance during crisis period; however, the results provide robust evidence that in a well-specified model capturing the effect of accounting-based measures of performance, Size, Growth, Risk and Dividend yield, ESG had no explanatory power over the stock market performance of ESG-compliant firms during crisis period. Furthermore, no significant difference in stock market performance indicators between high and low ESG-compliant firms was observed during the crisis period of 1Q2020 as well as for full year 2020. On contrary, the study finds dividend yield to be statistically significant in determining stock market performance of Indian firms during crisis period. The study extends the existing literature by coining the term, "ESG irrelevance" during crisis period. Research limitations/implications: The main limitation of this study is its limited sample size because there are very few Indian firms that have secured consistent ESG rating. The study focuses on consistently rated firms to avoid the impact of "greenwashing". Further, the study is focused on India, which limits the generalizability of our findings to other emerging countries. Originality/value: To the best of our knowledge, this is among the first few studies that examines sustainability and stock market performance of Indian firms during COVID-19-led crisis period. Our findings highlight no significant difference between stock market performance of high ESG firms and low ESG firms indicating that investors who wish to create wealth by investing in ESG-compliant stocks in India can do so without worrying about the companies' ESG rating scores. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach: This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings: The study demonstrates that craft-based microentrepreneurs in India pursue a hybrid form of marketing strategy, where the entrepreneur's creativity and inner visions take precedence over market needs. Furthermore, these microenterprises adopt informal marketing practices that are usually not seen in traditional firms. Originality/value: The briefing saves busy executives, strategists, and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. [ABSTRACT FROM AUTHOR]

Purpose: The primary purpose of this research paper is to evaluate e-learning among employees of Information Technology (IT) companies based in Hyderabad, India. Design/methodology/approach: A survey was undertaken among the employees from different IT companies based in Hyderabad, India, to gauge the perception towards e-learning. The participants were selected randomly. The evaluation is based on a few factors: convenience, usefulness, course content, quality, effectiveness and benefits for employees and organizations. The responses were recorded online through a structured questionnaire. In total, 237 responses have been collected for this present study, of which 227 questionnaires were used for analysis. Findings: The surveyed employees perceived that e-learning helped them enhance their workplace competency in a flexible but effective manner. The e-learning also empowered the learners and ultimately contributed to the enhancement of organizational performance in some ways. Research limitations/implications: Limitation of the study – by examining the pris study was confined to employees working with IT companies based in Hyderabad City, India. The data is collected online, and there may be some insufficient responses. Implications of the study – the study results show a deep insight into the critical aspects of e-learning as a tool for employee training for the benefit of employees and organizational development. The surveyed respondents from the IT sector at Hyderabad perceived that keys to successful e-learning programs should give due consideration towards availability of internet bandwidth, making the course more interactive, providing more choices to the learners and user-friendly and personalized learning experience. The study also shows that the e-learning programs primarily benefit the employees as well as the organization in a manner, namely, improved productivity, helping to achieve business objectives of the firm, growth and advancement to the employees and enhancing the job-related knowledge. The study also discovered that e-learning improves employees' opportunities for professional growth and advancement inside and outside the organization by assisting them in learning new skills and enhancing job-related information. Practical implications: The internet penetration in recent years, as well as post-Covid-19, has given rise to online learning in the education and corporate sectors. The emergence of online or e-learning has been gaining ground in the corporate world by replacing the existing face-to-face or physical training model because of the cost factor and flexible learning to the learners. E-learning improves the learner's ability to adapt to the company's constantly changing business environment, which in turn helps the company increase departmental productivity and, ultimately, achieve its overall business goals. Social implications: The e-learning also empowered the learners and ultimately contributed to the enhancement of organizational performance in some ways. The e-learning also empowers the learner to perform better at his workplace and at the same time moving on the social ladder as the learning makes him/her confident at the job market. Originality/value: This study provides a valuable understanding of employee perceptions on the adoption and effectiveness of e-learning, which ultimately improves the benefits of the training and development department in realizing and enhancing the quality in corporate companies. [ABSTRACT FROM AUTHOR]

Purpose – This paper aims to study whether exporting enterprises are more productive in export-intensive industries. It also aims to identify the action area and policy direction for enhancing productivity in Indian textile manufacturing. Global integration has increased the volume of international trade. It is crucial for countries to have competitive enterprises to capture a larger share of the global economy. Improvement in productivity performance not only enhances competitiveness but also promotes growth in an economy. Design/methodology/approach – A productivity analysis for the Indian textile manufacturing industry using firm-level panel data is conducted. The data are collected for 160 firms relevant to the period from 2007-2008 to 2012-2013 from Ace Equity database. Using the technique of data envelopment analysis, the output oriented Malmquist productivity index is computed and the sources of productivity change are identified. Also, a comparison between the productivity performance of the exporting and non-exporting firms has been made. Findings – The results suggest that exporting firms are exhibiting better productivity performance and resource utilisation during the study period. Technology change and scale efficiency seem to be the major sources of productivity gain for exporting firms. Research limitations/implications – The research is limited to a single industry, reference database and methodology. There is scope for further in-depth, micro-level research to analyze the differences in drivers of productivity for exporting and non-exporting firms. Originality/value – This paper provides validation to export promotional policies in the Indian textile industry by establishing better productivity performance of exporting firms. It also provides direction for managerial action by identifying efficiency component as the factor pulling down productivity. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to construct the social and environmental disclosure index for Indian companies in order to examine the relationship between social and environmental disclosure and select corporate attributes. Design/methodology/approach – The sample covers annual reports of companies for financial year 2011-2012. The sample represents both financial and non-financial companies that constitute Nifty 50 Index companies as on March 31, 2012. The actual size of the sample analyzed represented 41 companies. The unweighted disclosure index approach has been used to measure the extent of disclosure of social and environmental information where an item scores 1 if disclosed and 0 if not disclosed. The authors built a model using regression which indicates the variables that are significant in determining the social and environmental disclosure of a company. The regression model can be used to predict the degree of disclosure of a company given the values of explanatory variables. Content analysis from annual reports of the companies has been used in constructing the dependent variable. Findings – Regression results indicate that location (place where the registered office of company is located), number of operations of company, turnover, sales and administration expenses, age of company, employee cost and interest paid by company are significant in determining the disclosure index of the company. Research limitations/implications – Sample size can be increased by considering more companies. In addition, a longitudinal study would enable in drawing comparison over a period of time with respect to disclosure index. The increased sample size would help in validating the disclosure score by dividing the data set into two: one as observation window and the other as validation window.The model explains 23 percent variation in disclosure index. More variation may be explained by incorporating more explanatory variables in the model. Practical implications – The authors indicate the level of disclosure in case of Indian companies which may prove to be an indicator for prospective investors especially in the present era of global financial and economic downturn. The paper may assist the regulators in framing policies regarding corporate governance. This will enable the regulators of corporate sector to frame laws in order to predict the degree of disclosure of a company based on certain explanatory variables. Originality/value – The authors focus especially on Indian companies for constructing the disclosure index which to the best of knowledge has not been attempted till date. [ABSTRACT FROM AUTHOR]

Purpose Based on the international human resource management perspective, this paper aims to explore and explain the human resource (HR) practices of Japanese multinational companies (MNCs) operating in India.Design/methodology/approach This paper applies a qualitative methodology. The study is based on 17 semi-structured interviews that were conducted within the subsidiaries of 10 Japanese MNCs in India.Findings The respective HR practices are differently influenced by cultural and institutional factors. Cultural similarity, unique social context and the evolving labor market shape the HR practices of Japanese MNCs in the Indian context.Research limitations/implications The generalizability of findings might be limited because of the nature of methodology. Future research could collect additional qualitative data and conduct quantitative studies to test the findings of this research.Practical implications A unique combination of HR practices could be formed by addressing the changes in the local institutional environment and retaining the core philosophy of the parent company.Originality/value This research adds value to the transfer-adaptation dichotomy by presenting how institutional and cultural factors differently influence the transfer of respective HR practices. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to assess the impact of India's trade liberalization during the late 1990s and 2000s on productivity of manufacturing firms and verify whether the productivity-enhancing impact of reductions in input tariffs was greater than that of output tariff cuts, as found in some earlier studies. Design/methodology/approach: Firm-level (company-level) data drawn from Prowess database are used for the estimation of total factor productivity (TFP) at the firm level, done by using the Levinsohn–Petrin methodology. Econometric models are estimated to explain firm-level TFP. The explanatory variables used are output and input tariff rates and quantitative restrictions on imports at the industry level and firm characteristics such as firm size, export intensity and import intensity. Firm-level panel data for 2002-2010 or for a longer period 1998-2010 are used for the estimation of econometric models. Model estimation is done by applying the fixed-effects model and IV-2SLS, 3SLS estimators and EC2SLS estimators. Findings: Trade liberalization had a significant positive effect on the productivity of Indian manufacturing firms. The lowering of output tariff had a greater beneficial impact on TFP of Indian manufacturing firms than the lowering of tariff on intermediate inputs. Originality/value: Good deal of care has been taken in the measurement of output and inputs for the purpose of TFP measurement. Two alternative frameworks, gross output and value added, are used. This helps in making a better estimate of the impact of trade liberalization on TFP. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to radically redesign the methodology of plant maintenance and develop a three phase framework. A framework for effective and continuous maintenance improvement is presented. Design/methodology/approach – The first phase determines the key performance area, the second phase makes decision about the appropriate policy selection and third phase aims to generate capability in an organization to compete at world level. A case is presented here, of the implementation of a "maintenance reengineering framework", developed with the aid of certain maintenance components. Findings – The maintenance reengineering framework, when implemented, proved successful with a more than 90 per cent rise in production rate. Research limitations/implications – The paper contributes some guidelines which can be helpful in making decision about the selection of maintenance policy and for the achievement of world-class effectiveness. Practical implications – Maintenance reengineering (MR) framework includes the core concepts of preventive maintenance practices, total maintenance management and system perspectives of maintenance. Its implementation goes through three phases from identification of key performance area, via suitable maintenance policy selection to generating the capability for world-class effectiveness. The experience of this pilot implementation in a cement company in India suggested the feasibility of this framework in elevating the performance of maintenance management. Originality/value – This article offers a framework that addresses research on maintenance reengineering. It attempts to establish a relationship among the components of maintenance, which can bring potential benefits to the corporations of similar operations and nature. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to critically analyze the adverse effects of cartels on the economy and the interests of consumers and how they are sought to be regulated under the Indian Competition Act, 2002. Design/methodology/approach -- The paper focuses on the definition of cartels and the various factors conducive for the promotion of cartels and how they are sought to be regulated in the select jurisdictions with the help of decided case laws. It also sheds adequate light on the deficiencies of the Monopolies and Restrictive Trade Practices (MRTP) Act, 1969 in curbing cartels and how such deficiencies are sought to be remedied under the Competition Act, 2002. The paper further highlights the new trends and investigative tools in busting of cartels in the developed world and the salutary lessons that could be drawn by the competition regimes of the developing countries. Findings -- The paper discloses that the earlier MRTP Act, 1969 as well as the prevailing Competition Act suffers from various flaws in curbing cartels, resulting in the feeble regulation of cartels with all attendant baneful consequences on the economy and consumer interests. The paper strongly advocates the need to treat cartels as criminal offences warranting prosecution and punishment apart from encouraging leniency and whistle blowing for facilitating the busting of cartels. Practical implications -- The paper identifies the potential difficulties and intricacies that could be encountered by the competition authority in addressing the cartels owing to shortcomings in the Competition Act, 2002. Hence, the paper articulates that these concerns should be addressed by the legislature at the earliest for further strengthening the regulatory mechanism over cartels in the interests of economy and consumers. Originality/value -- The subject focused in the paper is a topic of utmost contemporary importance having wide implications on the national economies across the world, calling for novel methods and techniques in dealing effectively with the menace of cartels. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to critically analyze the resources and determinants of capabilities and attributes which enable Indian and Chinese firms to develop competitive advantages. The leading research question asks whether the traditional concept of competitiveness can capture Indian and Chinese firms' competitiveness. Design/methodology/approach: A systematic and comprehensive literature review of 62 studies published between 1994 and 2016 with focus on Indian and Chinese firms is conducted to examine the nature and contextual conditions of their competitiveness, as well as the research methods and underlying theories. Findings: Turning disadvantages into advantages and shifting the points of take-off are the most outstanding findings. Moreover, the majority of 88 per cent of the examined studies concludes that Indian and Chinese firms built nontraditional competitive strengths. Research limitations/implications: Because of the unconventional competitiveness of Indian and Chinese firms, existing theoretical perspectives and research settings need revisions and extensions. Originality/value: Unlike most extant research on India and China, which studies country- or industry-level variables using aggregate data, this paper reveals distinct patterns and similarities and differences of firm-level characteristics. In addition, by exclusively focusing on Indian and Chinese firms' competitiveness, conclusions about their uniqueness and generalizability can be drawn. [ABSTRACT FROM AUTHOR]

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.Findings A set of strategies and best practices for establishing collaborative governance mechanisms within a strategic offshore Information technology outsourcing (ITO).Practical Implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to examine the underpricing of initial public offers (IPOs), which were announced by Indian firms for the period 2007 through 2009. It is motivated by the fact that a well-developed capital market is a function of economic growth and a reflection of the financial system. Thus, this study investigates aftermarket pricing performance of IPOs during the recent global financial crisis. Design/methodology/approach - This paper studies the underpricing of 133 IPOs in three groups, namely, house-full collections, short-run and long-run periods. To do so, it uses event study method to observe underpricing, which is examined in various window periods. Further, industry- and year-wise offers are analyzed and interpreted. Accordingly, hypotheses are being developed and tested through a static "analysis of variance". Findings - The study explores that post-listing IPOs assure positive returns in the short run, but they tend to plunge and become negative in the long run. In particular, highest returns have been observed in the first week of post-listing. Research limitations/implications - Limitations include, the study does not compute market-adjusted returns to find abnormal performance of stocks, and does not apply regression statistic to examine the factors that affect underpricing. Practical implications - Eventually, conclusions are drawn from India-international results, and thus it would add some new insights on investor perspectives (e.g. price signalling) to the existing IPOs literature, especially from Asian markets context. Originality/value - This paper is an original research that examines the underpricing of Indian IPOs during the recent financial crisis, particularly in three groups: house-full collections, short-run and long-run periods. [ABSTRACT FROM AUTHOR]

Purpose - Foreign firms have certain advantages which may spillover to domestic firms in the form of improvements in total factor productivity (TFP) growth. The purpose of this paper is to empirically observe the presence of TFP spillovers of foreign direct investment (FDI) to domestic firms through analyzing source of TFP growth in Indian drugs and pharmaceutical industry. Design/methodology/approach - This paper examines the sources of TFP spillovers of FDI in Indian drugs and pharmaceutical industry over the period 1999 to 2014. The data of 304 firms has been used for estimation of the growth rates of TFP and its sources under stochastic frontier analyses based Malmquist productivity index framework. For frontier estimation, the Wang and Ho (2010) model has been executed using translog form of production function. Findings - The results show that there exists significant TFP spillover effect from the presence of foreign equity in drugs and pharmaceutical industry of India. The results also show that the major source of TFP fluctuations in the said industry is managerial efficiency that has been significantly affected by FDI spillover variables. In sum, the phenomenon of significant Intra-industry (horizontal) efficiency led productivity spillovers of FDI found valid in case of Indian drugs and pharmaceutical industry. Research limitations/implications - The number of foreign firms is very less to imitate the significant impact of foreign investment on TFP growth of Indian pharmaceutical industry at aggregated level; and the Wang and Ho (2010) model is failing to capture direct impact of FDI on technological change under Malmquist framework. Practical implications - Since, there exists dominance of domestic firms in Indian drugs and pharmaceutical industry, the planners should follow the policy which not only attract FDI but also benefit domestic firms; for example, developing modern infrastructure and institution which will further help domestic firms to absorb spillovers provided by the Multinational Corporations and also accelerate the growth and development of the economy. Social implications - In no case, the foreign firms should dominate the market share otherwise the efficiency spillover effect will be negative and the domestic firms will be destroyed under the self-centric approach of foreign firms protected by the recent patent laws. Originality/value - The study is a unique attempt to discuss the production structure and sources of TFP spillovers of FDI in Indian drugs and pharmaceutical industry with such a wide coverage of 304 firms over a period of 16 years under Wang and Ho (2010) model's framework. The existing studies on TFP spillovers are using either a small sample size of firms or based upon traditional techniques of measuring spillover effects. [ABSTRACT FROM AUTHOR]

Purpose This research work introduces an imperfect production system where the demand is assumed to be stochastic and it is influenced by random selling price. The shift time from an “in-control” state to an “out-of-control” state is exponentially distributed. The accumulated inventory contains both perfect and defective items which are all sold with a free repair warranty (FRW) offer. Complete back ordering of shortages are taken into account. The purpose of this paper is to determine the optimal selling price and hence the optimal production lot size such that the expected profit is maximized.Design/methodology/approach The general model is discussed separately for both types of uniformly distributed selling price-sensitive demand pattern: additive type and multiplicative type. Numerical examples and graphical representations of the optimal solutions are provided to illustrate the models.Findings This paper helps the manager to manage future situations and it may be considered as a base work for the researchers to work in this direction.Research limitations/implications The main limitation of this model is to consider a single item for a single channel system. There are many correlated issues that need to be further investigated. The future study in this direction may include the consideration of multi-items, diverse demand pattern with different types of price distributions.Originality/value In the production inventory literature, plenty of articles are available considering imperfect production but none of them have considered selling price-sensitive stochastic demand where the sales price is random in character under an FRW offer. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to demonstrate how a "just" enterprise can challenge stigma deeply embedded in culture and in the process develop and prevent a whole new generation of women, in this case the daughters and grand-daughters of sex-workers, from being stigmatized. Design/methodology/approach – Drawing on fieldwork interviews this paper, through appreciative inquiry analyses and most significant change questioning, examines the development of an Indian based enterprise called Freeset, a company employing women leaving sex work, and examines its history and its possible future trajectory. Freeset challenges the stigma of these Indian sex-workers, including that perpetuated through patriarchy, by offering alternative work which displays respect for their abilities and dreams and up-skills them to function as leaders in their communities. Findings – While stigma erodes social status by discounting and discrediting persons considered outside the norm, it is possible to challenge that process and change the life trajectory of its victims. Research limitations/implications – Hearing and highlighting the voice of the stigmatized is vital in clarifying a holistic view of stigma and its impact on society. Practical implications – There are significant insights into how values based enterprises might establish their ethos in cultures that discount those values the enterprise upholds. Originality/value – Few enterprises focused on producing social change outcomes develop sustainable business practices that challenge the economic root causes of stigma. Freeset provides new insights into managing diversity issues in a South Asian context to achieve that goal. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to provide an insight about factors affecting Big Data Analytics (BDA) utilization and adoption in Indian firms. Research studies have so far focused on BDA adoption in developed economies. This study examines the factors that influence BDA usage and adoption in the context of emerging economies.Design/methodology/approach This study proposed a theoretical model of factors influencing BDA utilization and adoption. Two independent research streams – first, the top managers’ perceived strategic value (PSV) in BDA and second, the factors that influence the adoption of BDA theoretically – have been integrated with the technology-organization-environment (TOE) framework. In the BDA context, there was a theoretical necessity to identify the driver and barriers of BDA from the TOE framework on PSV and adoption of BDA. A qualitative exploratory study using face-to-face semi-structured interviews was carried out to collect data from 22 different enterprises and service providers in India. India was selected as the context as it is one of the fastest growing large economies of the world with huge potential of BDA to improve the business landscape.Findings The results showed that the major reason behind BDA non-adoption is that the organizations did not realize the strategic value (SV) of BDA, and they were not ready to make the changes because of technological, organizational and environmental difficulties. The findings corroborate previous results about significant factors affecting IT adoption and implementation and provide new and interesting insights. The main factors identified as playing a significant role in organizations’ adoption of BDA were SV of BDA, complexity, compatibility, IT assets, top management support, organization data environment, perceived costs, external pressure and industry type.Research limitations/implications The main limitation related to this study is the difficulty in generalizing the findings to a larger population of enterprises. To overcome this, a statistical survey has been planned to be conducted in the future.Practical implications The BDA adoption model in this study will have both managerial implications for practitioners in India, as well as those in other developing countries, and academic implications for researchers who are interested in BDA adoption in developing counties, in terms of formulating better strategies for BDA adoption. For managers, using the research model of this study could assist in increasing their understanding of why some organizations choose to adopt BDA, while similar ones facing similar conditions do not. Also, the understanding of the strategic utilization of BDA in different business processes may improve the adoption of BDA in organizations.Originality/value This paper contributes in exploring and enhancing the understanding of the factors affecting the utilization and adoption of BDA in organizations from an Indian perspective. This study is an attempt to develop and explore a BDA adoption model by the fusion of PSV and TOE framework. The effect of the three contexts of this framework (technological, organizational and environmental) on the strategic utilization of BDA has been studied for the first time. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to empirically analyze the determinants of capital structure and their long-run equilibrium relationships with firm-specific and macroeconomic indicators for Indian manufacturing firms. Design/methodology/approach: The study is conducted using the panel semi-parametric and non-parametric regression models to identify the key determinants of capital structure. Panel cointegration models are also employed for analyzing the long-run equilibrium association of capital structure with its determinants. Findings: The study finds that each manufacturing sector has unique determinants of capital structure. The debt level is significantly affected by asset tangibility, growth opportunity, effective tax rate, non-debt tax shield, cash flow, profitability, firm size, foreign investment, government borrowing, economic growth, and interest rate. All these firm-specific and macroeconomic variables have strong long-run equilibrium relationship with capital structure as a whole. Practical Implication of the Study: The study analyzes the determinants of capital structure for eight manufacturing sectors of India, which helps firm managers and policy-makers to identify appropriate factors that maximize firm value. The sector-specific features of firms may lead to a new path with regard to corporate governance and ownership structure to enhance stakeholder's satisfaction. Originality/value: The use of semi-parametric and non-parametric panel regression models to analyze the determinants of capital structure, and the use of panel cointegration approach to explore the long-run equilibrium relationship between the determinants and its factors are the unique contributions of the present research. [ABSTRACT FROM AUTHOR]

Purpose – The aim of this paper is to examine how corporations in India interpret corporate social responsibility (CSR). Focusing on four commonly known approaches: the ethical, the statist, the liberal, and the stakeholder approach, the paper seeks to investigate the reported drivers and barriers to implementing CSR practices.Design/methodology/approach – The paper surveyed top-level managers of a sample of companies currently engaging in a CSR initiative, representing a variety of industry sectors.Findings – The study finds that the CSR approach that is most favored by Indian firms is the stakeholder approach and that the caring or the moral motive, followed by the strategic or profit motive, are important drivers for Indian firms to pursue CSR. Further, the results indicate that the most significant obstacles to CSR implementation are those related to lack of resources, followed by those related to the complexity and difficulty of implementing CSR.Research limitations/implications – The study focuses on the activities of leading Indian firms participating in the UN Global Compact (GC), thereby restricting one's knowledge of CSR practices of non-participants. Future research should expand on this effort either by conducting comparative studies of non-participants to the GC, or by investigating CSR practices of firms engaging in other voluntary initiatives.Originality/value – The majority of studies on CSR are still embedded in the economic and organizational contexts of Europe and the USA. This research aims to address this gap by focusing on the CSR framework of developing nations, particularly the emerging market of India. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to investigate the literature and statistical data on the Indian takeover code cum open offers market and break up the historical changes in takeover code into various phases for better understanding and decision making by mergers and acquisitions advisory, legal advisory, merchant bankers, investment bankers, business houses and academia. Design/methodology/approach -- The present study describes literature summary on takeover code and evaluates the growth phase of open offers through trend analysis with respect to amendments in Indian takeover code. Findings -- Since 14 years of takeover code presence in India, it evidences that there is an empirical support on growth phase in the open offers market. Research limitations/implications -- The study is developed on the basis of Indian takeover regulations and Securities and Exchange Board of India takeover code to wake up the public shareholding and regulatory bodies, by better conveyance of historical review at one place. Originality/value -- This study is the first of its kind, dividing the complete history of Indian takeover code into various phases for review and identifying the gaps for future research. Further, the paper investigates and finds various untouched facts and variables in both literature and statistical data on open offers. [ABSTRACT FROM AUTHOR]

Purpose - Using data on Indian listed companies for 2005, the purpose of this paper is to examine how firm ownership relates to auditor choice. More specifically, the author tests several hypotheses about the links between firm ownership, auditor relationships and earnings management. Design/methodology/approach - Several econometric techniques were employed including ordinary least squares, logit regression, ordered logit regression, Poisson and negative binomial regression to test the association between firm ownership and auditors. Findings - The results indicate that firms having high discretionary accruals are less likely to be audited by domestic entities. The analysis also suggests that domestic auditors are less likely to be preferred by both foreign and Indian private corporations. In addition, the analysis indicates that audit fees are higher for firms with higher earnings opacity. Research limitations/implications - Driven by data availability, the paper relies on cross-sectional data. Practical implications - The results demonstrate that firm ownership is an important consideration for firm auditor relationships. Thus, policymakers should not worry if firms persistently choose to do business with the same auditor. Second, the results are a pointer to the fact that given the differences in their governance structures, the role of domestic and foreign auditors in servicing business groups and state-owned corporations is distinctly different. Finally, the evidence suggests that the choice of multiple auditors is more to address the complexities involved in multiple business lines, as opposed to curtailing audit fees. Originality/value - To the author's knowledge, this is perhaps the first study for an emerging economy and more certainly for India to examine the firm ownership-auditor nexus. [ABSTRACT FROM AUTHOR]

Purpose – The objective of this paper is to present a broad-based tool primarily for the use of practitioners at the senior and middle management levels, to analyze the innovation management processes within their organizations and assess their impact on innovation and firm performance. It is contended that these processes are dichotomous because of the invariable tension between continuity and change-related aspects to be coped with.Design/methodology/approach – A single case (Moser Baer India Limited, an Indian firm and one of the world's large manufacturers of optical storage media) illustrating the use of a flowing stream strategy framework is presented. The theory that is the basis of the approach is not expounded at length in the interests of the basic target audience.Findings – The paper is an attempt to present a structured approach to strategy making. Realizing the hazards of organizational impediments in the implementation of strategy, only an illustrative approach is been indicated, paving the way for further investigation.Research limitations/implications – The limitations associated with a single case methodology may prevail to some extent. The data are context-bound; however, no attempt to draw general implications has been made. The purpose is more to present the use of a practical tool rather than to advance theoretical knowledge.Practical implications – The tool presented may be useful across a range of organizations, with minor adaptations.Originality/value – The paper is original and adds value in terms of the above. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to examine the factors that influence training decision making in small and medium enterprises (SMEs) in India's IT-enabled business process outsourcing industry. Design/methodology/approach -- The research strategy employed is a case study. Data from semi-structured interviews, organizational documents, and non-participant observation are analysed. Findings -- The inclusive theoretical approach uncovers novel explanations through the complex interaction that occurs between various internal and external factors that shape the nature and extent of training provision in SMEs in the context of a developing country. In SMEs, enterprise training can take a variety of forms -- formal, informal, and incidental. The final training provision is shaped by high employee turnover, the complexity of the process, client specifications, and the presence of certain organizational capabilities. Research limitations/implications -- Although a multi-case embedded design was followed, the results and findings cannot be generalized to a wider population. Findings are generalized to the literature on the drivers of training. Practical implications -- The paper's findings allow practitioners to utilize scarce resources effectively, particularly for where SMEs are operating in a dynamic outsourcing environment. Originality/value -- This paper extends the current academic and policy discourses on formal and informal training in SMEs by reporting findings from a new context -- India's dynamic outsourcing environment. Novel explanations are offered of how SMEs that outsource business process offshore meet their skill development needs. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to trace the scope and dimensions of global opportunities that emerge in the era of globalization through the rapid growth of transnational corporations (TNCs), which Indian small to medium-sized enterprises (SMEs) could exploit. The backdrop to the discussion is the growth of small-scale industries (SSIs) in the era of globalization relative to the pre-globalization era, with a particular focus on their export performance. Design/methodology/approach - Based on secondary data, the growth of SSIs is analyzed and the scope of global opportunities for Indian SMEs is explored. Findings - Although the growth of the SSIs segment of the SME sector in India has slowed in terms of the number of enterprises, level of people employed and production, SSI export performance has been impressive in the globalization period. The SSI sector has grown more towards the international market than the domestic market in the globalization era. Globalization has offered new markets to SMEs primarily through two major developments: the adoption of a complex integration strategy by TNCs for their production network, and the global procurement strategies and global expansion of TNC supermarket chains. Practical implications - The paper prescribes a dual strategy of vertical integration of local SMEs with global TNCs for the production of intermediate goods and horizontal cooperation through networking among local SMEs to link up with global TNCs for the production and marketing of consumer goods. The role of Indian policymakers as a facilitator in the process is emphasized. Originality/value - This paper throws light on recent growth performance of small-scale enterprises in India and provides insight on the emerging global opportunities to Indian SMEs, which need to be given due consideration by Indian policymakers for exploitation. [ABSTRACT FROM AUTHOR]

Human Resource Management (HRM) effects on firm performance can be examined at the systems architecture (i.e., guiding principles or philosophy), the policy, or practices levels. This paper suggests that, at least for small and medium-sized enterprises (SMEs) in developing countries, it is the guiding principles that affect a firm's performance. Using a unique dataset of 44 SMEs in Tamil-Nadu, India, this paper presents a regression analysis of the relationship between HRM philosophies and measures of firm performance. It is shown that the attitude of the firm's owner(s) towards its employees is a major determinant of the firm's profitability. The effect of HRM philosophy on productivity is smaller, albeit still highly significant. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of the paper is to examine the impact of corporate governance mechanisms, i.e. board structure and ownership structure on the underpricing of small and medium enterprises (SME) IPOs in India. Design/methodology/approach: Most of the extant empirical research studies have either pivoted on mainstream IPOs or SMEs IPOs in developed economies, but the present study examines 200 SME IPOs issued during Feb 2012 to April 2017. Multiple regressions have been used to examine the impact of the corporate governance mechanisms on raw return (RR). Furthermore, robustness of the results has been verified through the employment of market-adjusted excess return (MAER) as an additional proxy of underpricing. Findings: The results highlight that board size, inverse of board committees, board independence, board age, board directorships positively, and top ten shareholding negatively influence RR. Further, direction of promoter ownership variable indicates curvilinear relationship with underpricing. Other explanatory variables used in model lack statistical validity. Similar results have been obtained when variables were regressed against MAER with related board members being additionally significant in model. Practical implications: The findings suggest that Indian investors do take cues from board structure and ownership patterns for making investment decisions in small- and medium-sized firms. Further, the results are also helpful to top management in structuring their boards. Originality/value: The present research enriches SME IPOs underpricing literature because the impact of corporate governance mechanisms on unadjusted returns is relatively under explored particularly within the context of small- and medium-sized firms. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the effect of customer-to-customer (C2C) interaction while using a service on the willingness of consumers to engage in altruistic customer participation (CP) or co-production efforts aimed at helping other customers. It further examines the role of consumer skepticism toward the service category in moderating the effects of C2C interaction on altruistic CP and customer satisfaction. Design/methodology/approach: A survey methodology was used to collect data from 374 consumers of health-care services in India. The data collection involved interviews of patients visiting diabetes clinics and focused primarily on the interaction between customers and their willingness to participate in educating members of the community on diabetic self-care. Findings: The analysis shows that C2C interaction positively affects customer satisfaction and willingness to engage in altruistic CP. Consumer category skepticism does not moderate the effect of C2C interaction on customer willingness to engage in altruistic CP. However, category skepticism does have the moderating effect of significantly reducing the positive effect of C2C interaction on customer satisfaction. Research limitations/implications: Data for this study were collected via interviews of consumers in India. Each consumer was interviewed by a trained interviewer. Although the authors do not detect any systematic influence in the results, the possibility of bias is acknowledged. Regarding the research implications, the finding that category skepticism does not moderate the effect of C2C interaction on willingness to engage in altruistic CP suggest that ultimately consumers may have stronger commitment and loyalty to themselves and that their relationships with the firm's might be peripheral. Practical implications: The study finds that consumer skepticism toward a service category can have adverse effects for service co-creation. The authors advise managers in troubled industries not to focus exclusively on improving brand differentiation but to also consider working with major industry players and regulators to address the deepest fears of consumers. Originality/value: The findings have implications for the service dominant logic of marketing in that it suggests that category skepticism is disruptive to the value integration process on which service co-creation relies for value creation. This has strong implications for how managers should structure their interaction processes with customers and for future research that seeks to them prove customer productivity. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to determine the factors which affect the financial access of the female-owned informal enterprises (FOIEs) in India. There has been a dearth of studies particularly targeting determinants of credit access by the women-owned informal enterprises. Demand side factors affecting financial access have been studied. The study of major factors affecting access to credit by unorganized women enterprises will be useful for policy making perspectives. Design/methodology/approach: The study uses nationalized micro data set on the non-agricultural informal enterprises and probit estimation has been used to identify the factors which affect the probabilities of access to credit for the FOIEs. Findings: The study highlights what facilitates and hinders the financial access for the FOIEs particularly in India. These enterprises in rural areas have better chances to avail credit from formal sources. Firm size, measured by policy-making size of employment and gross profit, involvement in diversified activities, maintenance of accounting record, has positive and significant impact on access to formal credit. The younger firms and the firms operating in the southern states of the country have higher probabilities to avail credit from institutional sources. Originality/value: The study used the latest data set available on Indian informal enterprises, thus provides important insights about the status of financing of enterprises in India. This study highlights the regional variations and gender disparities that are prevalent in the Indian economy. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine human resource management (HRM) practices of the top 25 companies identified as “best” in India in 2011. This paper provides insights into HRM practices of a leading country in Asia that is playing a very important role in the global economy.Design/methodology/approach This conceptual paper will use for its research analysis the business reports of the Outlook Business Magazine and AON Hewitt. AON Hewitt is a global human resource consulting company and is an established authority in identifying “best” companies in India since 2004. A qualitative content analysis was done of the business report to identify predominant themes.Findings The analysis identified how the “best” 25 Indian companies offer progressive HRM practices that required careful investment and collaboration. This research showcases seven specific HRM themes that include elaborate staffing, investment in learning, work–life balance, egalitarian practices, developmental performance culture, generous benefits and engagement initiatives.Practical implications This paper provides preliminary guidelines for global practitioners who may be interested in doing business in India. It also provides a model of “best” HRM practices adopted by 25 companies that could help other organizations identify successful HRM practices in India. Among the 25 companies, 16 are Indian companies and 9 are subsidiaries of multinationals.Originality/value This paper outlines HRM “best” practices of organizations in an emerging Asian economy that has not been addressed before. This paper hopes to bridge this paucity in the extant literature by showcasing the “best” HRM practices from 25 “best” companies in India. It also provides an Indian model of “best” HRM practices that can be tested by other scholars for future studies. [ABSTRACT FROM AUTHOR]

Purpose – This study aims at examining the factors governing business benefits of moving to Enterprise 2.0. Web 2.0 has been around for more than a decade, and has been exploited by a lot of business organizations for improving their operations and profitability. However, the success rate has not been uniform. Design/methodology/approach – Is there a pattern behind this successful adoption has been a matter of curiosity for most top management personnel. This paper goes into analyzing what factors govern this movement from Enterprise 1.0 to Enterprise 2.0 and uses structured equation modeling to predict the possibilities. Findings – It concludes by demonstrating that business benefits to the organization are significantly linked to the usage of Web 2.0 tools. Research limitations/implications – The paper has been done in India, and the authors expect that similar studies around the world will result in similar results. Practical implications – Results of this paper emphasize the strong correlation between the use of Web 1.0 and Web 2.0 tools with business benefits obtained in terms of improved productivity of resources used and a higher level of information quality leading to better decision-making. Thus, transition to the Enterprise 2.0 state should be strived by all business organizations. Originality/value – This is an original work of the authors. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to investigate the extent of corporate disclosure on human resources (HR) in the annual reports of top performing Indian companies. Design/methodology/approach – The paper explores the extent to which top 82 companies from India present information about HR in their annual reports. This study examines the annual reports of each of the top Indian firms listed on the Bombay stock exchange, using the “content analysis” method. Statistical tests have been performed to analyse the difference between the HR disclosure score across public and private sectors and disclosure variations among various industrial sectors. Findings – In-house training programmes has been noticed to be the favourite item of disclosure followed by safety awards/certifications and statements regarding cordial relations with the employees/unions. A majority of the Indian firms have ignored significant HR issues such as employee welfare fund, maternity/paternity leaves, holiday benefits, employee loans and adopting old age homes, etc. Overall, the study reflects low HR related disclosures. No statistically significant difference has been found between the mean HR disclosure from one industry to another and disclosure practices of the private and the public sector companies. Practical implications – The disclosure pattern of the Indian companies suggests that they only a few companies are concerned about employees’ welfare than the rest. This may motivate a change of the disclosure policy of the rest of the firms who may follow the reporting pattern of the most disclosing ones. Originality/value – This is first study on the disclosure of HR by the Indian corporate sector in the CSR domain with a disclosure analysis for a period of nine years . This research provides new directions for the literature in this area and may promote comparative studies on HR-based studies from different perspectives. [ABSTRACT FROM AUTHOR]

Purpose – Environmental friendliness, in context of industrial operations, is an issue that has evoked much interest among environmentalists, governments, academicians and other sections of society in recent times. The said development has been more profound and broad-based in developed economies of the world, though, the trend is catching fast in developing countries, as well. Green Supply Chain Management (GSCM) is a management technique that aims to make a supply chain eco-friendly, without diluting the organizational objectives. The purpose of this paper is to investigate the scale of adoption and implementation of GSCM practices in the context of Indian industries. Design/methodology/approach – The investigation used literature review approach to determine the current status of implementation of GSCM by Indian industry, and associated aspects of the same. Literature pertaining to the subject in context of non-Indian industries has also been studied for the purpose of rudimentary knowledge on the management concept, as well for comparing the measures taken by foreign-based companies with Indian ones. Findings – The study shows that in general, Indian companies are lacking on the front of adoption and implementation of GSCM measures in their supply chains. Though, certain companies are showing appreciable enthusiasm for the eco-friendly concept, the same does not apply to majority of the Indian enterprises, owing to a multitude of factors. GSCM has the potential to drive economic gains, and can act as a big motivator for companies to go green. As India leaps towards higher levels of industrialization and economic growth, GSCM becomes more of a necessity rather than an option for Indian companies to survive the competition. Practical implications – Findings from this study helps in discerning the present status of GSCM in the country, and assess the same in comparison to that of developed countries. The findings will also help the firms to have a greater understanding of their current standing and the possible gains that can accrue by adoption of GSCM practices in real. The philosophy, stance and endeavours of government with respect to GSCM has also been spelt out in the paper. The paper contributes to the literature by providing empirical evidence on various aspects of GSCM in the country and the trajectory that it will chart in future. Originality/value – The paper though, brings forth the findings of other researches on the subject of GSCM practices in India in a consolidated manner, yet its value is reflected in the cohesive manner in which contrary findings have been analysed to present a comprehensive and holistic picture of GSCM implementation in India. An attempt has been made not only to assess the inputs of individual firms, but also of government and other stakeholders in their efforts to make supply chains more environment friendly. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine the motivations behind Indian firms’ outward investment, i.e. whether these firms are investing abroad in search of market, resource, technology, strategic-assets, efficiency, etc. Outward FDI by Indian firms has increased considerably in recent years. Such investments have gone to more than hundred host countries and into various sectors. The higher volume of outward FDI following policy reforms requires examination of factors that have motivated Indian firms to invest in different host countries. Design/methodology/approach – The empirical analysis is done for the period from 2008-2009 to 2011-2012 using firm-destination panel data with appropriate adjustment for clustering. Findings – The analysis provides evidence of the existence of multiple motives behind such investments. Indian firms are found to have invested abroad in search of resource, technology (strategic-assets) and efficiency, whereas the evidence on market-seeking motive is found to be at best weak in the empirical analysis. The results are robust to the use of alternative sample of outward investing firms. Practical implications – This analysis of firm-level motivation of outward FDI by Indian multinationals has pertinent policy implications as well. The presence of multiple motives implies that Indian firms could bring multiple benefits to the Indian economy through outward FDI. Originality/value – The link between outward FDI and host country factors is examined at the firm level as against at the aggregative level using a comprehensive and unique official database on actual outward FDI made by Indian firms, originating from both manufacturing and non-manufacturing sectors, in the form of equity and loan. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to examine the relative predictive abilities of current earnings (and its components) and cash flows for next period cash flows in case of Shariah-compliant companies in India. Design/methodology/approach - The study uses the list of CRISIL NSE Index (CNX) Nifty Shariah Index companies as its sample for a period of 10 years for conducting the analysis. The study utilizes the cash flow prediction models to examine the relative predictive abilities of current earnings (and its components) and cash flows for next period cash flows. Findings - The study report that contrary to Financial Accounting Standard Board assertion, current cash flows have superior predictive ability of next period cash flows than current aggregate earnings in case of Shariah-compliant companies in India. The results further show that there are no gains from decomposing earnings into accruals and cash flows in predicting future cash flows. There is no increase in explanatory power (measured by adjusted R2) when aggregate earnings are disaggregated into accruals and cash flows to predict next period cash flows. Practical implications - The empirical findings of the study will enable the Shariah compliant investors to understand the role of current earnings (and its components) and cash flows in predicting next period cash flows in case of Shariah-compliant companies in India. Originality/value - To the best of author's knowledge, this is the first study which examines the relative predictive abilities of current earnings (and its components) and cash flows for next period cash flows in case of Shariah-compliant companies in India. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to update existing Kauffmann's NK model to evaluate the manufacturing fitness of strategic business capabilities. The updated model is tested in a digital manufacturing (DM) setting to investigate the sequence for developing cumulative capabilities that can yield the maximum payoff. Design/methodology/approach: The authors develop a grey–DEMATEL–NK fitness model and show its application, through a case study, to a DM firm in India. Findings: The grey–DEMATEL–NK model helps evaluate multiple manufacturing capabilities and indicates that quality–flexibility–cost–delivery is the sequence that yields the maximum manufacturing fitness (competitive payoff) for a DM firm. This sequence helps the firm reorganise its internal business processes and is different from that used to develop cumulative capabilities in a traditional manufacturing setting (quality–delivery–flexibility–cost). Originality/value: This study presents a pilot model for computing the cumulative capabilities payoff and prescribes a sequence for developing cumulative capabilities within a DM context. [ABSTRACT FROM AUTHOR]

Purpose – In developing countries like India, changing economic and social condition necessitated working of women irrespective of their religion, class or social status. But at the same time, it raised number of related issues like managing for family adjustment, working environment, etc. The purpose of this paper is to study gender issues like gender stereotype, gender discrimination and sexual harassment in the context of Indian environment. Design/methodology/approach – A structured questionnaire was developed to collect primary data from 500 firms in India. The data collected through questionnaire was coded and tabulated keeping in context with the objective of the study and was analysed by calculating frequencies, factor analysis and one way analysis of variance. Findings – Results elucidate seven job-related factors (infrastructure, HR functions, organisational climate, legal pursuit, empowerment, training and development and ethical concerns) and two individual factors (interpersonal and mindset) that are considered essential for women employees in Indian organisations. Analysis indicates that though age and level of management has no significant effect on these factors but male and female respondents differ significantly on their opinion regarding these issues. Research limitations/implications – The respondents in present study have been taken mainly from service sector, manufacturing sector and education sector, thus the study looks at only organised sector. The research work suffers from the usual limitations of survey research method. Practical implications – With women becoming an integral part of the workforce, managers must examine their reliance on stereotypical views concerning women. Gender is a socio-cultural phenomenon and organisations are a key aspect of a given culture. Organisational analysis needs to take into account the relationship between gender, gender stereotypes and organisational life. Originality/value – The paper studies gender issues of gender stereotype, gender discrimination and sexual harassment on a pan India basis covering various sectors and contribute to the subject from Indian perspective. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to compare the importance and performance of managerial training in India among different industrial sectors in the light of asynchronous industrial growth in last two decades which has unevenly touched various business organizations. Design/methodology/approach – For the purpose of analysis organizations are divided at two levels. At the first level, they are divided between multinational and Indian origin category and at the second level between service and manufacturing category. A 2×2 full factorial design with unequal numbers is used to analyze main as well as interaction impacts. A sample size of 542 is taken which comprises training professionals, top/general managers and trainee employees. Findings – Study concludes that Indian origin organizations fall short in terms of importance given and performance of training function compared to multinational companies. Further, it is found that service companies have an edge over manufacturing companies in terms of importance and performance of training. Research limitations/implications – Study is mainly focussed on large organizations in India and may not be representative of small organizations. The major implication is that Indian origin organizations as well as manufacturing organizations have to devote more time and financial resources to training to compete in the era of globalization. Practical implications – It is implied from the findings that a concerted effort by training professionals in Indian and manufacturing companies is required to improve the content as well as image of the training function to get the due attention and resources within the organization. Originality/value – The paper presents an original perspective on situation of training function in Indian organizations and will be of importance to training professionals and other stakeholders. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to understand and map the global competitiveness of firms in emerging markets. The authors refine a framework (called the “strategic control map”, or SCM) that looks at market capitalization – using two parameters of book equity (size) and price to book ratio (performance) – as a key driver of the competitiveness of firms. However, the SCM has limited value in the context of smaller and largely domestic firms, as is the case in emerging markets. To develop a more comprehensive understanding, additional vital metrics such as the degree of internationalization need to be considered.Design/methodology/approach – The authors compare top 100 Indian firms against global firms on four dimensions – i.e. market price to book ratio, book equity, scope and scale of international operations. The authors consider data for the year 2009-2010 to make comparisons.Findings – The SCM, formulated with a developed market focus, is not suitable in the context of emerging markets as it fails to consider internationalization as essential to compete at the global level. Accordingly, the authors propose a new conceptual framework, referred to as the “strategic positioning map” (SPM).Originality/value – In this paper, the authors argue that “international intensity” and “market capitalization” can be two important dimensions to map the relative paths of growth for firms from emerging markets. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine the different challenges that confront supply chain finance (SCF) and to develop a hierarchical model that analyzes the complex relationship dynamics among them. Design/methodology/approach – An extensive survey is carried out amongst Indian firms to ascertain the perceptions and experiences related to different SCF challenges. After obtaining an overview of the different SCF challenges, an Indian company with global operations was approached and after establishing relationships among the challenges, a hierarchical relationship structure was developed and MIMBI analysis (where MI=measure of influencing; MBI=measure of being influenced) was carried out that helped understand the relationship dynamics of SCF challenges and identify actions at both strategic and tactical levels. Findings – The study reveals that lack of common vision among the supply chain (SC) partners is the most critical challenge confronting SCF. Unpredictable cash-flows resulting from delays in financial transactions, due to lack of automation in the payment processes, along with lack of knowledge and training on SCF tools, also play significant roles. As organizations are tightly integrated through their SC, they should initiate collaborative approaches across the SC to reduce the total procure to payment cycle time and, in the process, improve overall financial stability of the SC. Research limitations/implications – This study is based on the findings from the Indian industry; future research may include a large-scale survey and case studies across organizations located in different countries and operating under different environments. Practical implications – Based on the study, firms can evaluate the dynamics of SCF challenges and redefine SC relationships and strategies to achieve desired cash flow in the SC. Originality/value – The academic literature on financial supply chains is very limited. This paper appears to be the first formal attempt at analyzing the various challenges confronting SCF. [ABSTRACT FROM AUTHOR]

Purpose – There is significant evidence of increasing global implementation failures in enterprise resource planning (ERP) projects; and, for this reason, critical success factors (CSF) on implementation success (IS) are of notable concern to manufacturing organizations. This paper aims to focus on these factors and the role they played toward implementation success of ERP projects in India. Furthermore, this paper will also seek to explore whether the implementation success is moderated (i.e. influenced) by the organizational culture. This will help other manufacturing organizations take appropriate decisions about the ERP implementation. Design/methodology/approach – In the proposed model, the authors propose organizational culture as the moderator toward the implementation success of ERP projects in India. A survey methodology is used for the study, and a structured questionnaire was developed to get the information. Findings – Through this study, it has been found that the organizational culture acts as a moderator and moderates the relationship between CSF and implementation success of the ERP projects in India. Research limitations/implications – This study offers both academicians and practitioners a model to research, assess, and identify the appropriate CSF such as Setting up ERP business goals and objectives (SEB), Cross-Functional Teams (CFT), Business Process Reengineering (BPR), Projects Tracking (PTG), and Data Analysis and Conversion (DAG) on IS of ERP projects in India and moderated by the organizational culture. The research is targeted on manufacturing organizations in India, and hence it has limitations in terms of scope. However, the results are quite encouraging with very good response (n=223) from the manufacturing organizations. Other manufacturing organizations planning to implement ERP soon will be highly benefited from the results of this study. Originality/value – Unfortunately, few research studies define the issues related to the moderator namely the organizational culture. This paper demonstrates how this moderator played an important role in ERP implementation. The findings will encourage Indian manufacturing organizations to implement ERP when facing challenges of the competitive market for their competitive advantage. For India, this research could be among the first to its nature. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine the effect of corporate board size and promoter ownership on firm value for selected Indian companies.Design/methodology/approach – The study analyses the corporate governance structure of 176 Indian firms listed on the Bombay Stock Exchange using linear regression analysis.Findings – The empirical findings show a negative relationship of board size with firm value and significant positive association of promoter ownership with corporate performance. The study suggests that only above a critical ownership level of 40 percent does promoter's interest become aligned with that of the company, resulting in positive effect on firm value.Research limitations/ implications – The research has been limited to some selected Indian companies, with focus only on board size and promoter ownership as predictor variables. The study suggests that corporate governance reforms in India and introduction of non-executive independent directors to the board have resulted in diminishing effect of board size on the firm value.Practical implications – The study implies that for emerging economies like India, it is practical to have greater ownership control by promoters to enhance company value. Also, it is not advisable to have a board size above certain limit.Originality/value – The paper adds to existing literature on corporate governance by establishing a relationship between firm performance and board size and promoter ownership. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to test the stickiness of payout policy across times for Indian firms, by identifying the determinants of dividend payout (for amount of dividends as well as probability of dividends) and examine their predictive consistency through good and bad times, affiliation categories, amid controls for idiosyncratic characteristics. The authors also examine the scantly explored effects of financial constraints on firms’ dividend decisions.Design/methodology/approach The authors use various regression models, i.e. panel, Tobit and logit models; and amid control for firm-specific characteristics throughout the analysis.Findings The authors observe payout levels on average increasing with time for Indian firms. Further, group firms pay higher dividends compared to standalone firms. Firms’ leverage, profitability, non-promoters holdings, growth prospects and dividend event are apparently the important determinants of payout ratio and are mostly, but not always, consistent through times and firms’ categories, for both the amount as well as the likelihood of dividend payments. Financial constraints have an overall negative impact on dividends with significantly varying magnitude across periods of stability, crisis and recovery. Firms’ age and size are positive and significant factors for dividends level decisions in Indian firms, which is consistent with the life-cycle theory. However, inconsistent size and age effect is observed in determining the likelihood of dividend payment.Research limitations/implications This study adds to the growing literature on the changing trends and contributing factors of firms’ dividend payout policy.Originality/value This study provides evidence on predictive consistency of payout policy of firms and its determination with the change in the external economic condition. [ABSTRACT FROM AUTHOR]

Purpose Based on agency theory, the purpose of this paper is to investigate the determinants on the dissemination level of corporate governance disclosure (CGD).Design/methodology/approach The sample of the study incorporates listed companies in Nifty 500 Index for the period 2009-2014. The Governance Disclosure Score calculated by Bloomberg is used as a proxy for the dissemination level of corporate governance information. In total, eight explanatory variables are uses, namely, board’s size, number of board meetings, CEO duality, presence of women on the board, company’s size, financial performance, Tobin’s Q ratio and financial leverage.Findings The results of study suggest a need for improvement in CGDs by Indian companies, as they fail to comply the majority of the proposed disclosure items. Furthermore, it is revealed that the number of board director, the value of company, the financial leverage and the presence of women affect negatively the dissemination level of corporate governance information. While, the size of company is the only determinant that positively affects the extent of CGD.Practical implications The results are valuable because they reveal the attributes that determines which companies needs less or extra monitoring by shareholders and investors regarding the applied corporate governance practices. In addition, the study can be valuable to policy makers responsible for the regulation of company’s accountability in relation to corporate governance practices.Originality/value The study extents previous studies by incorporating for the first time Bloomberg’s rating approach regarding the dissemination level of CGD in Indian context. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine the relationship of social capital with new venture creation, and whether self-efficacy plays a role in mediating the association between social capital and new venture creation.Design/methodology/approach Data were collected from 375 entrepreneurs through cross-sectional survey in India. The study used partial least square path modeling to assess the relationships among the variables.Findings Findings reveal that social capital is positively related to new venture creation. The association of social capital and new venture creation is fully mediated by entrepreneurs’ self-efficacy.Originality/value The role of social capital in the success of new venture creations through self-efficacy is useful to the potential entrepreneurs and people who facilitate new venture creation in Indian context. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to analyse the role of non-violent protest (satyagraha) in a multinational automobile plant in India that has suffered from considerable employee relations problems. Design/methodology/approach – The paper employs a case study of a Japanese-owned company using data obtained from 30 personal interviews and from internet media sources. Findings – It is found that workers initially pursued their protests through satyagraha-style methods before taking on a more violent posture when company management refused to accept any notion of jointly seeking a new harmony. The reasons for these developments are explored. Practical implications – The paper has implications for the manner in which scholars and practitioners view the respective roles, significance, and management of satyagraha and non-satyagraha protest in Indian companies. Originality/value – The importance of satyagraha in Indian employee relations is under-researched in comparison with other factors, and is especially significant for culturally-unaware multinational companies in successfully understanding and managing protest in the workplace context. [ABSTRACT FROM AUTHOR]

Purpose – This paper aims to explore the impact of competitive intelligence (CI) practices on the firm's performance in the emerging market context of India. The paper seeks to answer the following questions: do CI activities have an impact on the market performance of Indian firms? If so, what are the macro and micro environmental drivers of CI for Indian firms? How are CI activities organized within Indian firms? How is the usage and dissemination of CI taking place within Indian firms? Design/methodology/approach – The study used a stratified sample developed from a variety of mailing lists focusing on Indian firms. The study employed a cross-sectional, survey-based methodology. Findings – The study identifies two key aspects: Indian firms that exhibit higher levels of CI activities indeed achieve better financial performance results; and the current level of CI activities in Indian firms is at a moderate level, thereby suggesting an opportunity for using and implementing more sophisticated CI techniques. Practical implications – The findings of this study should assist local and foreign managers in having a more informed understanding of CI activities in the Indian marketplace. Additionally, these findings provide directives to managers regarding the untapped opportunities and potential that CI can offer in a highly volatile and rapidly changing market scenario. Originality/value – This is the first study that empirically investigates the relationship between the level of CI activities and firm performance in an emerging market context. It is also the first study of its kind that explores the current state of CI practices in the Indian market. [ABSTRACT FROM AUTHOR]

Purpose – This paper's aim is to identify structural and relational factors influencing the upstream channel management of organized retailers in India. Design/methodology/approach – In-depth interviews were conducted with 15 organized retailers and two manufacturers in India. Data were analyzed using the thematic network analysis technique from qualitative research. The authors use the framework of institutional theory to guide the discussion. Findings – The findings suggest that government regulations influence the supply chain structure in India. Relational bonds offset the uncertainty borne of weak institutions. Informational transparency and long-term orientation foster trust between channel partners. This trust, in turn, leads to collaborative partnerships. Research limitations/implications – The findings have implications for multinationals planning to enter the Indian retail industry. There is a need to understand complex regulatory and social institutions in India. The uniqueness of these institutions calls for adaptive strategies toward channel management. Originality/value – The paper contributes to the literature on the supply chain structure in India. Despite growing interest in the Indian retailing industry, not many studies reflect on the specific B2B exchange structure in India. The paper fills this gap and also provides several marketing implications for multinational retailers planning to enter the Indian market. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to empirically examine both the direct effects and the interactive effects of job insecurity and job embeddedness on unethical pro-organizational behavior.Design/methodology/approach Data were collected, using established scales, from employees of different Indian organizations. In all, 346 responses were collected. The data were analyzed using a stepwise multiple regression technique.Findings The results of the analysis reveal that both job insecurity and job embeddedness are positively linked to unethical pro-organizational behavior. Further, the relationship between job insecurity and unethical pro-organizational behavior is moderated by job embeddedness.Research limitations/implications The study’s results indicate that managers should be aware that employees who run the risk of losing their jobs might be inclined to perform pro-organizational behavior that could be unethical. Intrinsically, such acts could be detrimental to the organization’s long-term health and therefore managers should be vigilant and timely in discouraging this behavior.Originality/value Unethical pro-organizational behavior as a means used by employees to combat job insecurity has not previously been addressed by researchers. Thus, this study contributes to the literature through its empirical examination of the role of job insecurity and job embeddedness as factors influencing unethical pro-organizational behavior. [ABSTRACT FROM AUTHOR]

Purpose This paper aims to report the findings from a longitudinal study of Indian business groups responding to the pro-market reforms that the government had initiated. It explores their diversification choices at the group level and the group performance consequences of these choices during a period of institutional changes (1990-2008).Design/methodology/approach Ordinary least squares regressions were used to analyze data spanning the 1988-2008 study period for 98 Indian business groups.Findings Results show that business groups that focused their portfolios in the early stages of institutional reforms tended to perform worse than their counterparts that did not do so. However, as market reforms became more established, business groups that made the transition from an unfocused to a more focused portfolio experienced superior performance consequences.Originality/value The findings underscore the temporal dimension of focusing and suggest that both changing strategy by refocusing business portfolio too early or waiting too long to refocus can hurt performance outcomes. [ABSTRACT FROM AUTHOR]

Purpose Decisions pertaining to working capital management have pivotal role for firms’ short-term financial decisions. The purpose of this paper is to examine impact of working capital on profitability for Indian corporate entities.Design/methodology/approach Both classical panel analysis and Bayesian techniques have been employed that provides opportunity not only to perform comparative analysis but also allows flexibility in prior distribution assumptions.Findings It is found that longer cash conversion period has detrimental influence on profitability. Financial soundness indicators are playing significant role in determining firm profitability. Larger firms seem to be more profitable and significant as per Bayesian approach. Bayesian approach has led to considerable gain in estimation fit.Practical implications Observing the highly skewed distribution of dependent variable, Multivariate Student t-distribution has been considered along with normal distribution to model stochastic term. Accordingly, Bayesian methodology is applied.Originality/value Analysis of working capital for firms has been performed in Indian context. Application of Bayesian methodology is performed on balanced panel spanning from 2003 to 2012. As per author’s knowledge, this is the first study which applies Bayesian approach employing panel data for the analysis of working capital management for Indian firms. [ABSTRACT FROM AUTHOR]

Purpose – Few research studies have been conducted to investigate the issue of new service development (NSD) across nations and geographical regions. To address this critique of the literature, the purpose of this paper is to conduct a comparative study of NSD process and strategy in a developed country, Australia and a developing country, India. Design/methodology/approach – The paper conducted surveys of 102 Australian firms and 97 Indian firms operating in the business-to-business financial services industry. Findings – The findings suggest that significant differences exist between the Australian and Indian firms. Service firms in both countries use different strategies to compete in the industry and emphasize different sets of development stages in developing new services. Research limitations/implications – The analysis has been restricted to two countries: India and Australia. This suggests the need for further comparative studies of NSD in other cultures/countries. Practical implications – The findings of this research validate the initial contention that NSD varies from country to country and thus there cannot be a "one-size-fits-all" approach to NSD. The insights from this study can help service managers from India, Australia and other countries to better understand and manage their NSD programs in a cross-national context. Originality/value – To the best of the author's knowledge, this research represents the first attempt to empirically test the similarities and differences in NSD practices of Australian and Indian firms. [ABSTRACT FROM AUTHOR]