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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]

Knowledge management (KM) research has focused more on large firms. Lately, there is increasing realization of need and significance of KM for sustainable competitiveness for small and medium-sized enterprises (SMEs). Potential competitive advantage of KM may be more profound in a small firm. Information Technology (IT) has a crucial role in KM. IT is the facilitator, the enabler. The IT requirements of SMEs are different from that of big firms. Most of the research on role of IT in KM has focused on big firms. The purpose of this research paper is to look at IT for KM in SMEs particularly, in Indian context. The paper consists of five sections of introduction, literature review, research methodology, research findings and conclusion. IT tools are more in use in international auto components manufacturers (ACMs) as compared to Indian ACMs. The major problems faced by ACM vary among international and Indian ACMs. Internet is used by every organization under study followed by intranet. IT has just grown over time in the organizations under study. Copyright © 2008 John Wiley & Sons, Ltd. [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]

This paper examines the motives behind equity holding by banks in non-financial firms. It has been argued that banks hold equity in firms primarily for two reasons: to support their debt holding or for returns as capital investments. This paper tries to examine which among these two motives drive equity holdings by Development Financial Institutions in India (DFIs). Results indicate that equity holding by DFIs in India is primarily driven by their interest as creditors. In poorly performing firms, equity holding by DFIs is also driven by debt restructuring in firms in the form of conversion of debt to equity. [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]

India is increasingly becoming a destination for organizations seeking to remain profitable in an intensely competitive international environment. This paper intermeshes the ancient Eastern Guru–Shishya or revered teacher-pupil process with communities of practice to radiate knowledge in organizations. This Eastern process, based on evidence from three labour intensive organizations in India, is described and analysed, along with the results. The paper contributes to knowledge and process management in organizations by tapping into ancient values as the source for embedding both knowledge sharing and knowledge production. In addition, this paper adds to the managerial discourse on developing countries, and is particularly useful for organizations wishing to engage with, or already doing business in India. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper estimates the effects of group incentives on productivity, pay and employment in a large unionized firm in India. Using plant-level monthly time-series data from the payroll office for the period 1985–95, and controlling for both (plant) fixed effects and (contract) time effects, the paper provides econometric evidence on the effectiveness of both the level and intensity of incentive pay on the outcome measures. In addition, the relative performance of two types of group incentives defined on the basis of group size is also analysed. The results generally confirm predictions from theory that productivity returns to incentives are non-linear and concave in shape and that the effectiveness of incentives is decreasing in group size. It is argued that the latter is most likely due to the lessening of the free-rider problem and the increased effectiveness of peer monitoring associated with smaller groups. The results also point to a negative relationship between the level of incentives and employment over time. [ABSTRACT FROM AUTHOR]

This paper compares the performance of India and China in attracting foreign direct investment (FDI). China ranks number one as the world's preferred foreign investment destination. FDI statistics suggest that India's performance has been significantly understated but India still lags absolutely for several reasons. These include a high tariff regime, poor physical infrastructure, a regulatory system that is too often not business friendly and a policy of reservation of many potentially export-oriented sectors for small businesses. The paper concludes that further liberalization of India's FDI regime is likely to be driven by external pressures and state-level initiatives. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper clearly demarcates the boundaries of international joint venture (IJV) activity and identifies avenues for profitable deployment of corporate resources. Its objective is to analyse partner identification strategies in international joint venturing between Indian auto firms and their non-Indian partners. The results provide complementary partner objectives as critical decision factors sought by firms in the formation of IJVs. The paper reveals four distinct factors. The foreign partner looks for local resources, business strategy, financial resource and country business environment related issues from the Indian partner. The Indian partner looks for Iong-term competency-competitiveness generation, international market entry strategy, MNC techno-managerial advantage and financial resource related advantages. This leads to a conceptual model, which is used to integrate the results. The paper suggests that IJVs are a new type of organizational form where inter-partner objective alignment and the complementary nature of objectives are pertinent. It also suggests that IJVs are a good means of entry in medium and Iong-term commitments. Continuous re-venturing of IJVs with dynamic objective re-alignments is always needed. [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]

Business houses cannot consider themselves solely as a money making entity. Being benef iciaries and some of the biggest consumers of various social and natural resources, it's their moral and ethical duty to give back to the society in various forms. Instead of being seen only as charity, corporate social responsibility should be considered as a vital part of the core business of a business entity. Companies upon realizing this reality have started setting aside substantial portion of their prof its for various CSR activities and Indian companies are also not an exception to it. There are primarily two reasons behind companies becoming more socially responsible- the f irst one being the external reality of a rapidly changing society and environment which makes it obligatory for business organizations to adopt sustainable development for their own sheer survival, the second one being the internal reality of business innovation which makes it imperative to practice corporate social responsibility to become more prof itable. Though a relatively new concept in India, it has picked up pace in the last decade or so due to both government prodding and also due to the realization by companies of CSR activities as an excellent way to connect with the populace. CSR is not only the various activities companies employ to utilize their prof its for various social and environmental development, but also consists of the socially responsible methods to earn these prof its and running a transparent business to realize an overall social and environmental sustainability. The present paper will try to explore the various aspects of corporate social responsibilities and will also try to assess the roles played by Indian companies in carrying out various types of CSR activities. [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]

Micro enterprises provide a large economic and employment generation platform which makes them unavoidable in any economy. The number of employees associated with micro enterprises in most countries will be a much higher figure than small and medium enterprises. This reflects the relevance of the study about HR Practices in micro enterprises. Employment to the lower layer in the economy is usually provided by the microenterprises. It is the hub where unskilled, illiterate and lower income category prefers for a job. In the survey result of fourth all India censes of MSME, rural enterprises occupy 55.34% of the total MSME's (MSME Annual Report 2016-17). Knowledge about the HR practices prevailing in this area will be highly beneficial for the academic sector for framing much finer practices through which the rural micro entrepreneurs can increase their productivity. The government will be able to design policies and frame rules and regulations in order to protect and utilize the larger sector of employment generation for building up the economy. In this paper the importance of rural micro enterprises in the economy, recruitment sources, selection process, training methods, working hours, employee benefits, health and safety measures, wages provided, Performance appraisal, employee retention and termination of an employee is discussed in detail with the help of an empirical investigation of 35 rural micro entrepreneurs. This will provide a better platform for a further detailed research among the HR practices in rural microenterprises. [ABSTRACT FROM AUTHOR]

This paper examines the growth of dynamic capabilities among firms in the Indian software industry by looking in some detail at the changing constraints, opportunities and competition facing incumbent firms. It emphasizes the important role played by tight labour market conditions in inducing investment in process capability and the role of entrepreneurial experimentation in evolving a business model (out- sourced software) that was best suited to limited resource advantages of Indian software firms. [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]

A large literature provides empirical evidence that financial development enhances welfare by stimulating economic efficiency and offering more profitable growth opportunities, although the issues of identifying the exact mechanisms through which finance enhances welfare and dealing with the simultaneity between financial development and growth still remain contentious. This paper takes a firm-level approach to study the link between financing sources and firm growth in India. We start by observing that (domestic) financial underdevelopment should not necessarily constrain all firms' growth opportunities equally, given they can also access other non-bank finance sources such as retained earnings, foreign finance and government borrowings. Similarly, it is unrealistic to assume that similar financial structure will generate homogenous effects across firms. These considerations motivate our research questions of whether financing sources matter for firms' productivity growth and whether this depends on firm characteristics such as ownership and size. We answer these questions using a rich micro panel data set and employing econometric techniques that deal with the potential reverse causality from financial structure to productivity growth. We find that relative to retained earnings, bank and nonbank finances positively affect firm level productivity growth with bank loans having the largest and government borrowings the least effect on growth. Size is found to play a mediating role in the finance-growth nexus: access to bank loans (nonbank finance) disproportionately benefits smaller (bigger) firms. Further analysis around ownership structure suggests that all else equal, it would appear that financial structure matters only for the growth of domestic private firms. [ABSTRACT FROM AUTHOR]

Family firms and business groups play an important role in many emerging economies. In this paper we study how different aspects of family involvement influence technological innovation in a firm. Arguments drawn from agency theory and particularly the principal-principal agency hypothesize a negative influence of family involvement with respect to technological innovation. In contrast, stewardship theory predicts a positive influence of family involvement on technological innovation. Drawing on these theoretical lenses with contrasting directionalities with regard to the impact of family involvement on technological innovation, we study how family involvement in ownership, management and board of directors, and business group affiliation influence R&D investments and patents obtained by the firm. The hypotheses are empirically tested on a seven-year panel of 172 firms from the pharmaceutical industry in India. Our results indicate that family shareholding and family control over both CEO and chairperson positions have a positive and significant influence on the firm's R&D investments, broadly lending support to stewardship theory. We also find a positive influence of business group affiliation on R&D investments and patents applied by the firm. Our conjecture is that the high technology opportunity environment in the Indian pharmaceutical industry facilitates stewardship behavior which in turn promotes innovation in these firms. [ABSTRACT FROM AUTHOR]

Corporate Social Responsibility is very important for society, customers, stakeholders and suppliers etc. Social responsibility can be profitable as it is possible for companies to build and prosper shareholders' value by solving social problems. This study explores the Corporate Social Responsibilities adopted by Maharatna Companies. Each company's annual report has been studied and most recent CSR activities have been noted to find out, "Is Corporate Social Responsibility adopted as a Business Strategy". To provide an answer to the question the CSR literature has been examined from both theoretical and practical perspectives. The purpose of the paper is to create a synergy between Corporate Social Responsibility and core business activities and to analyze & compare the expenses incurred on CSR activities. The paper uses past three year data to find out percentage of three year's average Profit after Tax incurred on CSR activities. Line graphs and column graphs are used to show the turnover, Profit after Tax and CSR expenditure of Maharatna companies. Correlation between PAT and CSR expenditure is found out to show if there is any increase in PAT as we increase CSR expenditure. Data collected from annual reports of companies show that they are creating a synergy between CSR and business activities. Findings show that, expenses on CSR in 2013-14 in Maharatna companies have undoubtedly increased as compared to the previous years but still only a small percentage of the CSR's planned expenditure is actually spent. [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]

This paper intends to measure the impact of capital structure on EPS (earnings per share) in Indian corporate sector. Fifteen control variables along with capital structure have been selected to know their impact on EPS. Panel data regression has been applied to establish the relationship among dependent and independent variables. It is found from the empirical analysis that the relation of capital structure with EPS has been statistically insignificant in Indian corporate sector among all specific industries except telecommunication industry. The results are consistent with Modigliani-Miller approach. [ABSTRACT FROM AUTHOR]

In recent times, many highly leveraged companies in Indian corporate sector followed the route of disposal of their non-core assets to reduce the debt burden. 'Non-core assets' means the assets not used in core business operations. The purpose of this paper is to develop a conceptual framework about the non-core assets, its relevance and fill the gap in disclosure requirement in companies' financial statements in this regard. Existing disclosure requirements limit the information availability regarding the holding of non-core assets on the face of the balance sheet statement as well as in notes to accounts. The paper using the existing literature, in addition to information available in Revised Schedule VI to the Companies Act 1956 and Indian Accounting Standards 1, 6 and 10, finds that disposal of non-core assets during the turbulent times are one of the common practices. However, there are lacunas in the disclosure requirements regarding the noncore assets in company's financial statements. The findings of the present study may attract the attention of various users of financial statements and may form the base for revising the disclosure norms in this regard to bring greater transparency. The study is a pioneering attempt to examine the possibility of showing each class of fixed tangible asset under the heads 'core assets' and 'non-core assets' to facilitate better decision making and compliance with the conventional wisdom of transparency, corporate governance and full disclosure. [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]

The paper examines the volatility by applying beta and GARCH and volatility spillover by employing Dynamic Conditional correlation. All the NBFCs had a beta greater than one, indicating that the asset class is more volatile and riskier than the benchmark. The GARCH analysis also indicated the presence of short-term volatility and which is able to capture all the information available to traders and investors. The persistence of the long-term volatility parameter indicated the riskiness of the security. DCC- GARCH examined the spillover effect of one NBFC over the other. As both the parameters were insignificant, it suggested that volatility in one security may not be the cause of another security. Moreover, the volatilities were found to be decaying in nature. [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]

This study is about Venture Capital Funds (VCFs) in India. This paper has studied three venture capital funds in India, viz, IFCI Venture Capital Fund, Canbank Ventures and Bain Capital Private Equity. Venture capital has gained importance especially after the liberalisation of the Indian economy after 1991. This industry includes both public sector units as well as private funds including Indian and Foreign. This industry is under SEBI regulation. This paper has also given the examples of successful venture capital funding in some industries in India. This study has used secondary data from the selected companies. The study has also given examples of some of the companies which have received funding from the venture capital fund. This study also identifies some of the future challenges of VCFs in India. [ABSTRACT FROM AUTHOR]

This paper covers the issue of foreign collaboration in the Indian Business Education and its implications on professionalism and development of competence among the budding managers. The issue of foreign collaboration in Indian Business Education is considerably significant issue in the light of India as an emerging economic power and business. Already there is considerable flow of foreign collaboration in Indian business education witnessed by the institutional partnership. The existing institutional partnership and the future intension of foreign players are entering in business educations have been impacting in the new professional development as well as to develop professional competence in the arena of management education in India. Impacts on the new array of professionalism and competence in the country due to foreign collaboration need a fresh re-look and assessment. This paper has three sections. Section -1 deals the historical snapshot of global alliances of business education, modes of alliances; section-II deals on the quotients analysis for spread of global alliances, and in final the section the section-III analyses perceptions of stakeholders on the global alliances. [ABSTRACT FROM AUTHOR]

Corporate Social Responsibility (CSR) is the commitment by the enterprises to integrate social, environmental and ethical concerns into its business process to make contributions to the community and society. The New Companies Act 2013 has mandated CSR for the companies with effect from April 2014. This paper focuses on the CSR spend made by corporate India and its composition. The paper also aims to study the relation between CSR spend, ownership structure, market capitalization and industry classification. [ABSTRACT FROM AUTHOR]

This paper examines the impact of the deregulation of compulsory industrial licensing in India on firm-size dynamics and reallocation of resources within industries. Following deregulation, resource misallocation declines and the left-hand tail of the firm-size distribution thickens significantly, which suggests increased entry by small firms. However, the dominance and growth of large incumbent firms remains unchallenged. Quantile regressions reveal that the distributional effects of deregulation on firm size are significantly nonlinear. The reallocation of market shares toward a small number of large firms and a large number of small firms is characterized as the shrinking middle in Indian manufacturing. Small and medium-sized firms may continue to face constraints in their attempts to grow. [ABSTRACT FROM AUTHOR]

The paper examines empirically the timing behaviour of the selected Indian companies because timeliness in the corporate reporting influences the decisions of the stakeholders. The delay in reporting reduces the relevance of the information given in the financial reports. The present study covers the period of seven years from 2002-2003 to 2008-2009. Three basic aspects of timeliness in corporate reporting are considered in the paper i.e., variation in date of end of the accounting year, reporting period gap and time lag. The results of the study show that there is less variation in reporting period gap and date of end of accounting year but lag between balance sheet dates to Annual General Meeting could not depict a definite trend. The study suggested that all the companies should balance their accounts on same date and reporting period gap should be of twelve months because large variations in these two aspects may make inter-company and interperiod comparison complicated. The shorter the time between balance sheet dates and Annual General Meeting, the greater the benefits that can be derived from the financial statements. [ABSTRACT FROM AUTHOR]

Corporate social responsibility (CSR) and corporate philanthropy is a highly misunderstood & misinterpreted term in India, people often interlink this two term which are having altogether a different prospective. Some Indian companies believe that they are complying with laws & regulations fulfill their need for social responsibility. A corporate must take these activities with sincerity in order to provide a growth full nation. Although India is a favorable business destination but unless poor people have equity in the growth of economy, India can never achieve the title of super economy. Corporate social responsibility is one such important area of corporate behavior & governance that needs to be given thorough importance. At the same time csr is one such effective tool that synergizes the efforts of corporate & the social sector agencies towards sustainable growth & development of the societal objectives at large. This paper emphasizes that how CSR has become a ladder for development of any corporate organizations. This paper tries to bring out CSR initiatives taken by various organizations in India. An emphasis has been made in order to have an understanding about how corporate are utilizing the initiates at name of philanthropy and counting them to be there CSR activity and how the upcoming ceiling of mandatory 2% CSR is getting on their nerves and making them to enter and explore some hidden unexplored arenas of governance. This paper is completely a work based on articles and secondary data so collected. [ABSTRACT FROM AUTHOR]

The paper studies the impact of compliance with non-mandatory disclosures in corporate governance on the performance of Indian firms in the context of guidelines given by the market regulator, Securities and Exchange Board of India (SEBI).A sample is drawn from BSE100, an index of large firms listed on the Bombay Stock Exchange. The authors develop a self-constructed Corporate Governance Index (CGI), which represents the disclosure score. Ordinary Least Squares regression is then used to test whether CGI has a significant impact on two measures of firm performance -- 1) Price-to-book value, a market based measure and 2) Return on Capital Employed (ROCE), an accounting based measure. The paper finds evidence of a weak, yet significant relationship between the corporate governance index and the market value of firms. However, the index has no impact on the accounting performance of firms. [ABSTRACT FROM AUTHOR]

With increasing globalization and integration of capital markets, the world is fast adopting a single language of financial reporting, i.e., International Financial Reporting Standards (IFRS). More than 100 countries have adopted IFRS and many others have given their consent to adopt IFRS in the near future. India is in line to converge with IFRS. This paper investigates the impact of IFRS adoption on financial activities of Indian companies by using a sample of eight companies for three years, 2010-11 to 2012-13. The study considers four areas of financial activity, i.e., financial risks, investment activities, operating activities and debt covenants. The results reveal that the financial indicators, investment activities and operating activities have been significantly affected by the adoption of IFRS, while financial risks and debt covenants fail to show a statistically significant impact. [ABSTRACT FROM AUTHOR]

The paper examines empirically the relation between intellectual capital efficiency and firms' market valuation in India. Using data from Indian listed companies and Pulic's Value Added Intellectual Coefficient (VAIC) measure, the paper constructs panel regression models for 10 years across seven industrial categories to examine the relationship between the intellectual capital efficiency and firms' Market-to- Book Value (MTBV). The results suggest that the explanatory power of the individual components of intellectual capital efficiency (physical capital efficiency, human capital efficiency and structural capital efficiency) is observed to be better than the aggregate composite measure (VAIC). The results also affirm that expenditure on innovative capital and relational capital captures additional information on structural capital and has a positive effect on firms' value contemporaneously. Further, in the presence of all the intellectual capital components, firms with greater innovative capital and relational capital in the ensuing year tends to have higher MTBV in the following year. The study does not support the idea that after controlling for structural capital efficiency, the firms with greater innovative capital tend to have higher MTBV during pre- and post-2008 financial crisis in general and across the Indian industries. The results extend the understanding of the role of intellectual capital in creating firms' MTBV for companies in Indian economy. [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]

How private firms can overcome their unique governance challenges remains an important but understudied topic. Using novel data on more than 28,000 private firms in India from 1988 to 2017, we examine whether private firms can improve their survival prospects by having board interlocks with public firms and, specifically, interlocks whereby a public firm director subsequently joins the private firm's board. In our data, we found a U-shaped relationship between the number of incoming board interlocks and the probability of private firm exit. We also found that board interlocks formed by public firm directors of public firms audited by Big Four companies improve private firms' survival more than other interlocks, consistent with the notion that such interlocks improve monitoring at private firms. Overall, our study points toward the importance of considering the role of incoming board interlocks when explaining private firm survival. [ABSTRACT FROM AUTHOR]

This paper reports one of the first investigations to analyze inter-partner perceptions of psychic distance between two countries. Its empirical focus is British and Indian SMEs engaged in business with each other. It examines different dimensions of psychic distance, their impact and modes of coping with them. Potential firm-level and individual influences are also taken into account. The paper aims to transcend some of the conceptual and methodological limitations of previous research on the subject and to identify the theoretical and practical implications that arise. A 'mirror' approach is applied, accessing both partners' perceptions. These are assessed through a 'mixed' method combining quantitative measurement with qualitative interpretations. Psychic distance dimensions are found to vary in their impact on doing business with the other country, and there is also variation according to the firm's sector. There is considerable asymmetry in British and Indian partners' perceptions of psychic distance but the degree of difference between their psychic distance evaluations lacks predictive power. Culturally embedded psychic distance dimensions tend to have less impact and to be easier to cope with than institutionally embedded dimensions. Four categories of coping are identified. The principal theoretical implication of this study is that a contingency perspective needs to be adopted in the field of 'distance' research, taking account of factors such as a firm's sector, and that this will require a more complex analytical framework that hitherto. [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]

Corporate India is witnessing a kind of "Retro Revolution" in recent times. The successful comeback of several retro brands, both in India and abroad provided a new impetus or 'mojo' to the Indian corporations who are vying with each other to revive the long forgotten brands. The new found love of corporations for the brand revival has generated a considerable interest amongst academicians and brand management practitioners. This is because several national and international empirical examples reveal that it is not easy to pick the right brand for revival amongst the forgotten brands. On the other hand, it is very risky, complex and cumbersome to revive the brands, especially when they inherit loads of negative baggage. Considering the complexities and challenges involved in the brand revival, the present paper offers techniques for identifying the right brand or winner amongst the long forgotten brands. It also provides strategies for the successful revival of old brands in the Indian landscape. Finally, the findings and suggestions of the study help to fill the gap in the academic literature and guide practitioners of brand management to adopt successful strategies in the art and practice of retro brand management. [ABSTRACT FROM AUTHOR]

The basic principles of design for assembly (DfA) are well established. This paper presents a short review of the development of DfA approaches before presenting a new tool in which these principles are packaged for use in teams, both in an industrial and an educational context. The fundamental consideration in the design of this tool is to encourage wide team participation from across an organisation and is thus physical rather than software-based. This tool builds on the process developed by Appleton whilst at the University of Cambridge. In addition to the traditional analysis of component fitting, feeding and fixing, this process also encourages the team to explore how this relates to the overall assembly flow and specifically the achievement of throughput targets. The novel approach is an improvement to established methods and encompasses an original assessment tool and its delivery process that includes custom designed post-it notes and simple check lists for scoring. The process is demonstrated in a single case study in an Indian firm. [ABSTRACT FROM PUBLISHER]