International Journal of Indian Culture and Business Management (32 papers in press)
Risks in Banks and its impact on Volatility of Market Returns: An Empirical Approach
by Prakash Singh, Sukriti Kumar
Abstract: During the recent periods of recessions, it becomes important to identify how banks operations affect the total risks of the banks so as to avoid any major distress on the Indian banks. The study tries to capture the different risks of various nationalised public sector banks and also the private sector banks. Various accounting ratios have been used as a proxy for measuring the risks. Total risk is measured as the standard deviation of return on equity. This total risk is regressed against the accounting ratios so as to identify the important sources of total risk. Allowance for loan loss ratio, loan to asset ratio, total investment which is not held till maturity to total assets appear to be significantly related to the total risk.
Keywords: Banking; Risks; Return on Equity.
Corporate Governance and Institutional Investors - Law in India
by I. Sridhar
Abstract: Financial markets globally are experiencing competitive monetary easing. In this context India stands as land of opportunities in attracting Institutional Investors, especially the Foreign Institutional Investors (now called as Foreign Portfolio Investors). The Purpose of this paper is to critically analyze corporate laws in India relating to institutional investors in the context of corporate governance. The study reports that Institutional Investors role is different from that of other investors in ensuring compliance with corporate governance norms. In spite of incentive to encourage institutional investor activism, legal and business hurdles are acting as deterrence to greater institutional investor activism. An implication of this paper is that it addresses the issue of legislative response in ensuring greater activism on the part of Institutional Investors.
Keywords: Corporate Governance; Institutional Investors; Shareholder Activism; Nominee Directors; Insider Trading.
CONSTRUCT VALIDATION AND EXPLORATION OF TURNOVER INTENTIONS OF SALES EMPLOYEES: EVIDENCES FROM INDIA
by Sarika Jain, ShreeKumar Nair
Abstract: Turnover and turnover intentions (TOI) appear to be important variables for study in sales management. By virtue of their job profile, sales employees are required to respond to multiple demands from coworkers, customers and their respective family members as well, which eventually lead to negative outcomes such as stress. This in turn results in withdrawal decision process that finally leads to quitting. Of importance to the study is turnover intentions measurement. The study first validated the modified version of Ku (2007) scale in Indian context using exploratory factor analysis (EFA) and Confirmatory factor analysis (CFA). The results of the data analysis are in line with the indications in the literature. Further, this study explored the impact of demographic variables on turnover intentions of sales employees in India. The study contributed to the sales management literature by identifying the key demographic variables that can have an effect on sales employees turnover intentions. Results indicated that sales employee intent to leave an organization is associated with both work (hierarchy and annual salary) as well as family related domains (marital status, presence of children). Implications of these findings are discussed.
Keywords: Turnover Intentions; Turnover Intention Scale; EFA; CFA; SEM; Demographic Variables; ANOVA; Post Hoc Scheffe’s Test; Sales employees; India.
Policy Innovations in India: An Exploration of Conditions for Successful Diffusion
by Devasheesh Mathur, Rajen Gupta
Abstract: Innovation in policy-making is seldom observed and requires robust exploration of the process of innovation. Innovation is carried out by policy entrepreneurs, both within and outside of the government, while implementation occurs through the executive branch of the government. Diffusion of innovation happens over a period of time involving myriad actors. The process of innovation in policies is to be understood with the precursors, enablers and disablers of the innovation leading to its diffusion. The objective of this paper is to determine the conditions for successful diffusion of innovation. The authors have followed a Grounded Theory approach to develop a theoretical model which would help policymakers to innovate in social policies. They took in-depth interviews of policy-makers who have been involved in an innovative policy and analyzed government documents as well peer reviewed research papers. The interviews and document analysis were used to figure out the precursors, enabling and disabling factors for policy innovations. This allowed the authors to come up with the conditions of successful diffusion of an innovative policy. The paper concludes with recommendations for diffusing a policy innovation in a better way.
Keywords: Policy Innovation; Innovation Process; Diffusion; Grounded Theory; Conditions of successful Diffusion.
Understanding Consumer behaviour towards toxic chemical-free cosmetics Using Schwartz values- a study from India
by Sita Mishra
Abstract: In last few years, a new trend has emerged with consumers increased concern about ingredients in cosmetics. As a result, the cosmetic companies are looking to launch natural, organics or free-of cosmetics. However, just introduction of the new products will not serve the purpose. Values represent the most abstract cognitions and serve as standards for evaluating attitudes, beliefs, and behaviour. This study combines the theory of reasoned action (TRA) and Schwartz values to assess the impact of consumers buying intention. The results of the current study indicates that personal values affect consumers attitude towards toxic chemical free cosmetics. Out of the four values, self-enhancement is the most influencing value which impacts attitude of respondents towards toxic chemical free cosmetics. Further, attitude is found to be significantly influencing the willingness to purchase toxic chemical free cosmetics. The study also discusses managerial implications of the study in order to suggest the marketers what insights can be drawn from the study.
Keywords: Consumer values; attitude; purchase intention; toxic free cosmetics; Schwartz values.
The relationship between Positive and Negative Affect, Workplace Spirituality and Job Satisfaction
by Michael Sony, Kochu Therisa Beena Karingada
Abstract: The study tested the relationship between Workplace spirituality, positive and negative aﬀect at work and Job Satisfaction. 387 employees working in power utility in India completed workplace spirituality scale by (Petchsawang, and Duchon, 2009)., Job Affect Scale (Brief et al., 1988). and Job Satisfaction(Adams et al., 1995). Results were analyzed using Structural Equation Modeling and Regression analysis. The positive and Negative affect at work mediated the relationship between Workplace spirituality and Job satisfaction with positive aﬀect exerting a stronger influence. Among the four Workplace Spirituality dimensions Compassion, Meaningful work and Mindfulness were significant independent predictors of aﬀect at work. The results extend the literature on Workplace spirituality effects in organizational settings
Keywords: Workplace Spirituality; Positive Affect; Negative Affect; Job satisfaction; Compassion; Meaningful work; Mindfulness and Transcendence.
How to prepare the researcher for indigenous context: An integrative approach
by Puneet K. Bindlish, Sharda Nandram, Rajen K. Gupta, Ankur Joshi
Abstract: Indigenous methodologies refer to ethnography, storytelling and approaches that invite people to understand the local context which is culturally embedded and at the same time part of a global whole. In response to this recommendation, the authors propose a research paradigm that requires a fundamental change in the current configurations and models for organizing institutions. It follows the research intention of providing cognitive schemas for a phenomenon through which it can be experienced as having a coherent integrative existence. For such experiences the researcher is the most significant actor and so in the proposed design, researcher preparation is the most important element. This paper focuses on the preparation of the researcher required, including the need for and process of this preparation and the implications for organisational research.
Keywords: Researcher preparation; Self de-globalisation; Research paradigm; Integrative research; Glocal Fundamental Research.
DECONSTRUCTING THE SEMANTICS OF DEMONETISATION IN INDIA A MULTIVARIATE ANALYSIS OF MILLENNIAL GENERATION PERCEPTIONS
by N. Sivakumar
Abstract: On November 8th 2016, the Indian government announced the demonetisation of higher denomination currencies of INR 500 and INR 1000 removing 86% of the currency from the monetary system. From the initial objectives of eliminating black money, reducing corruption and preventing terrorism funding, the Indian demonetisation narrative had spanned several interpretations during the course of exercise. This paper attempts to understand the various perspectives that go into creating an understanding of the meaning of demonetisation. Apart from providing a detailed literature review of these perspectives, the paper also presents the results of a research study which attempts to deconstruct the semantics of demonetisation using the perception of the millennial generation. The study shows that while demonetisation narrative uses various viewpoints like purpose, management, national development and political perspectives to create a meaning of demonetisation, the millennial generation based on their philosophy of pragmatic idealism, prefer to use the national development and management perspectives to deconstruct the semantics of demonetisation. The paper finally discusses the philosophy of pragmatic idealism from the Indian culture context.
Keywords: Demonetisation; Semantics; millennials; demonetisation narrative.
Corporate Governance and Value Creation: A Study of Selected Indian Companies
by Shinu Vig, Manipadma Datta
Abstract: Good governance is integral to the existence of a company. It inspires and strengthens investor confidence and has a fundamental role in evolving and shaping the overall business environment. In the Indian context there is scant literature on the impact of corporate governance on value creation. The purpose of the paper is to examine the impact of good corporate governance implementation on value creation by S&P BSE (Bombay Stock Exchange) Greenex companies of India, measured by economic value added (EVA). In this paper a corporate governance index has been attempted as a proxy to firms corporate governance quality. The index is based on three main themes- Board of Directors, Transparency and Disclosure and Investor relations. Economic Value Added (EVA) has been used as a measure of corporate value creation. The results show that quality of corporate governance has a positive relationship with value creation i.e. EVA of these companies. However, the impact is found to be not significant.
Keywords: Corporate Governance; Value creation; Economic value added; Greenex; India; Corporate Governance Index; Board of Directors; transparency; disclosure; investor.
ORGANIZATIONAL SOCIALIZATION: DIFFERENCES IN CONSEQUENCES BETWEEN EMPLOYEES FROM NATIONS WITH HIGH AND LOW UNCERTAINTY AVOIDANCE
by Mehlika Sarac, Reeta Raina, Rajneesh Chauhan, Bilcin Meydan, Ismail Efil
Abstract: This study assumes that the effect of organizational socialization may be different in different cultural contexts and therefore, attempts to investigate the moderating effect of national culture value-uncertainty avoidance- on the relationship between institutionalized socialization tactics and work-related attitudes by focusing the differences between Turkey and India. Using data collected simultaneously from India and Turkey, authors conducted multi group structural equation modeling (SEM) approach to compare the research model across the two nations. The results indicate that the effects of Institutionalized socialization on normative commitment and intention to quit are stronger for employees from nation with low UA tendency while the effects of Institutionalized socialization on affective commitment, job satisfaction and organizational identification are stronger for employees from nation with high UA tendency.
Keywords: Organizational socialization; uncertainty avoidance; work-related attitudes; structural equation modeling; intention to quit; affective commitment; normative commitment; national culture; cross-cultural; difference in work related attitudes in nations with high and low uncertainty culture.
A Conceptual Model of Customer Engagement through Mobile Applications in India
by Smitha Girija, Devika Rani Sharma
Abstract: Rise in technology and deregulation of telecom Industry has led to the growth of mobile phones in India. The Zinnov Consumer research 2016 indicates that the behavior of consumers has evolved significantly over the last two years in India with 58% of mobile users' access internet through mobile devices. With technology becoming accessible and markets becoming ever competitive the ability to engage customers is highly crucial. Customers also have become more demanding than ever. The purpose of this article is to synthesize the existing and available literature on this newly emerging topic- Customer Engagement through mobile applications in India. The objective was to identify various factors influencing the various online engagement activities of an average Indian customer on a mobile platform. With the help of exploratory research four major factors were identified- Technological, Psychological, Monetary and Cultural factors. Based on the identified factors a conceptual framework is proposed.
Keywords: Customer engagement; Mobile applications; Cultural factors; India.
Motivations of first time marathon runners in India: a factor-cluster segmentation
by Mohita Maggon
Abstract: Owing to the upcoming swell in marathon participation in India, this paper attempts to examine the motivations of marathon runners, and to develop market segments. The studys objective was to understand the demographics and motivations of first time marathon runners. This was achieved through an online survey of marathon runners. Profiles of runners were developed and runners were segmented into two clusters fitness seekers and personal achievers. This article attempts to fill gaps in understanding the motivations behind marathon participation in India. This study can help event managers to plan and execute marathons in a more effective manner. Event managers and runners training companies can develop advertising and promotions to attract and retain new and existing runners respectively. This is the first study that segments Indian marathon runners from a marketing viewpoint and categorizes their behaviors and demographics.
Keywords: runners; motivation; clusters; India; sports.
Cultural Factors affecting Early Turnover Intention Moderated by Person-Job Fit and Person Supervisor Fit
by Sonali Bhattacharya
Abstract: Purpose: The purpose of the study is to find out the impact of Person- job fit (PJ), Person-Supervisor fit (PS) and dimensions of perceived organizational culture (OCA) such as Leadership, management styles and dominant characteristics on Early attrition.
Methodology: An online questionnaire was administered on 273 newcomers in Indian industries. The questionnaire measured the constructs of PJ, PS and dimensions of OCA and Turnover Intention.
Findings: Person-Job-fit, Person-Supervisor-Fit and Organizational Culture were found to be negative indicators of early Turnover Intention. Hence newcomers fitting with his job and supervisor is essential for his/her long term retention. Moreover, if dominant characteristic of the organization is to facilitate autonomy and family like environment to the newcomers then turnover intention is low. In fact, organizations whose dominant characteristic is result-orientation are preferred the least. A leadership style which supports entrepreneurship, innovation, or risk taking behavior will have significantly lower turnover intention. The organizations whose management style is characterized by ensuring security of employment, conformity, predictability, and stability in relationships is likely to have lesser turnover intention. Another management style preferred by newcomers, though to a lesser degree is supporting teamwork, consensus, and participation. Person-job fit and person-supervisor fit significantly moderates impact of organizational culture on turnover intention.
Limitations : The study can be extended to cover other dimensions of culture, which we thought was of less relevance for the subjects of our study who were on their onboarding phase
Contribution to knowledge/originality: No other studies have appropriately covered the linkage between organizational culture, person-job fit and person-supervisor fit and early turnover intention in the emerging market context.
Keywords: Person-Job-Fit; Person-Supervisor Fit; Turnover Intention; Organizational culture.
Indian Women in Grassroots Socio-political Institutions: Impact of Microfinance through Self-help Groups
by Akhaya Kumar Nayak
Abstract: Microfinance has long been recognised worldwide as a tool for poverty alleviation. Besides, it also empowers the poor, both socially and politically. One of the largest microfinance programmes in India is carried out through women self-help groups. Extant literature suggests that by participating in SHGs, Indian women gain numerous socio-economic and political advantages. This paper specifically aims to explore the relationship between womens participation in self-help group activities and their involvement as well as role performance in grassroots socio-political institutions, such as family, village council, local self-government, and caste. The paper concludes that the more actively the women participate in self-help group activities, the more involvement they gain and the more important role they play in grassroots level socio-political institutions. The study has practical implications for policy makers, non-government organisations and activists in India that are attempting to elevate the status of women by enabling their participation in all spheres of life.
Keywords: Microfinance; Microcredit; Self-help Groups; Participation; Role performance; and Women empowerment.
A STUDY ON IMPACT OF KEY FACTORS AFFECTING BUYING BEHAVIOR OF RESIDENTIAL APARTMENTS: A CASE STUDY OF NOIDA-GREATER NOIDA
by Narendra Singh, Mukul Gupta, Saroj Kumar Dash
Abstract: This research emphasizes to discover the major key factors affecting the buying decision of customers to buy residential apartments in Noida and Greater Noida. The sample consisted of those respondents, who either bought an apartment in the last one year or planning to buy in the upcoming years. Data collected through a questionnaire. The collected data were analyzed with the help of SPSS. The result shows that the most important affecting factor is Structure and Design among other factor. Further, the study suggested that real estate marketers should give importance to the extracted factor while offering apartments in the market.
Keywords: Consumer Buying Behavior; Residential Apartments; Marketing; Real Estate; SPSS.
Causality between Electricity Consumption and Economic Growth: Empirical Evidence from India
by Lopamudra Mishra
Abstract: The present paper tries to examine the Granger causality between per capita electricity consumption and per capita Gross Domestic Product (GDP) at 2004-05 prices for India using annual data covering the period 1970-71 to 2015-16. It applies error-correction model to examine the causal relationship between these two variables. The estimated results indicate that the per capita real GDP and per capita electricity consumption are co-integrated and there is unidirectional Granger causality running from real GDP to electricity consumption but not vice-versa. In the short run, the results of the causality test show that bi-directional causality flow from economic growth to electricity consumption in India. Thus the government of India has to face the numerous energy challenges in future.
Keywords: Electricity consumption; GDP; India; Causality; Error-correction model.
Influence of organizational justice on intention to stay of IT professionals
by ARTI GUPTA, Vrijendra Singh
Abstract: The objective of this study is to investigate the relationship between distributive, procedural, interactional justice and IT professionals intention to stay in the organization. The outcomes propose that the perceived fairness in interpersonal treatment may impact employees intention to stay more than the distribution of organizational rewards and fairness of organizational procedures. This information could be used by managers to manage the level of interactional justice to enhance employees intention to stay and to improve other by-products of workforce shortage. This study supports the findings of previous researches but also identifies some of the contrary results. IT sector has peculiarly large percentage of employees below the age of 35 years and since the percentage of this population in the workforce is rising, so these results may be applicable to other organizational settings as well.
Keywords: Distributive justice; Procedural justice; Organizational justice; Intention to stay; Interactional justice; IT professionals.
Religiosity, CSR attitude and CSR Behaviour: An empirical study on SMEs of Ganjam District, Odisha
by PRAFULLA KUMAR PADHI, SUBASH CHANDRA NATH, VIJAYA LAKSHMI MOHANTY
Abstract: The business enterprises are set up either by an individual, or by a group of people, or by an association. The vision, mission, goal and objectives of a business organisation are prepared prior to action. Individuals thought, belief, feeling & emotion, thinking and willingness persuade the enterprises perpetual succession. An enterprise is bonded with various inbuilt responsibilities of its stakeholders. The aim of this paper is to examine the relationship between the Hindu religiosity and executives CSR attitude, CSR behaviour in SMEs of Ganjam, Odisha. 61 samples collected from 61 SMEs of Ganjam District, Odisha, to do an empirical study of the relationships. The ethical values of business practice and their attitude towards various stakeholders are tested in this study. To investigate the relationship, the regression analysis is used to test the hypotheses. This interrelationship in three elementary influences; religiosity, executives CSR attitude and CSR behaviour is studied.
Keywords: Religiosity; Corporate social responsibility; Executive’s attitude; Executive’s behaviour; CSR activity.
An Exploratory Investigation of Motivation Orientations of Indian Business Students: Implications for Educators
by Suresh Gopalan, Moula Cherikh, Lalitha Balakrishnan
Abstract: Indias rapid economic growth and favourable youth demographics have created an unprecedented demand for business graduates. Employer feedback indicates that large numbers of graduates are deficient in their knowledge, behaviours, and skill-sets to be effective in the workplace. This arises due to subpar institutions, lecture-based teaching, rote memorization learning, and progress by passing exams. The need to institute educational reforms is widely acknowledged but hampered by the lack of knowledge about Indian business majors and their motivation towards education. A modified version of the Motivated Strategies for Learning Questionnaire (MSLQ) with 22 items was used to collect data on five aspects of motivation (extrinsic, intrinsic control of learning beliefs, self-efficacy, and test anxiety) from a sample of 462 students drawn from three colleges located in Chennai. A confirmatory factor analysis (CFA) confirmed the reliability and validity of the five constructs. A cluster analysis shows the emergence of three distinct clusters that differed across all five constructs. Implications for educators along with recommendations are discussed.
Keywords: Motivation; extrinsic motivation; intrinsic motivation; self-efficacy; control of learning beliefs; test anxiety; Indian business students; Indian educational system; MSLQ; Cluster analysis; India.
Duties of Directors in Corporate Governance Indian Perspective
by I. Sridhar
Abstract: In the wake of corporate governance issues raised by Mr. NR Narayana Murthy relating to Infosys that has come to public attention recently, an attempt is made in this paper to critically evaluate the role of Board of Directors in the governance of a company. This study observes a need to re-look at role and duties of directors in the field of corporate governance in achieving the larger goal of good governance. An implication of this paper is that it addressed the legislative response to corporate governance challenges in the Indian context and also suggests as to how regulatory bodies may deal with situations where the board of directors fall short in the discharge of their duties towards various stakeholders.
Keywords: Board of Directors; Fiduciary Duties; Duty of Care and Skill; Independent Directors.
Intrinsic Motivational Potential Inventory: Development of a Measure
by Sanghamitra Buddhapriya, Prachi Bhatt
Abstract: Motivated employees are the greatest asset to any organisation. But differentiating employees on the basis of their intrinsic motivational levels, which in our research parlance is referred to as intrinsic motivational potential, has been a constant challenge. So, it becomes relevant to understand the behavioural traits that differentiate individuals in term of their motivational potential. This research empirically tests the behavioural traits affecting motivational potential framework and develops a situational judgement test-based measurement tool, i.e., the intrinsic motivational potential inventory (IMPI). Study 1 (251 sample) and Study 2 (224 sample) comprising MBA students were carried out to develop the measurement tool. The exploratory factor and confirmatory factor analyses indicated a reliable measure with a single factor structure comprising of 33 items. This measurement tool would prove useful for practitioners and researchers in understanding and assessing the intrinsic motivational potential. Additionally, this paper has discussed theoretical, practical, and future research implications.
Keywords: Motivation; intrinsic motivational potential; psychometric measurement; workplace motivation; intrinsic motivation; individual differences; behavioural traits; intrinsic motivational potential inventory; behavioural trait assessment.
Definition Schema for Redefining Leadership: An Integrative Approach
by Puneet Kumar Bindlish, Sharda Nandram, Rajen K. Gupta
Abstract: This paper attempts to provide an integrative definition schema suitable for redefining various definitions of leadership and building a theory on leadership by following a GLocal Fundamental Research (GFR) approach which focuses both on an integrative and a holistic understanding of leadership (Bindlish et al., 2017). The research question is: what are the elements that define leadership from an Indian indigenous view using the GFR approach, and how can these elements be related to form a theory? GLocal here refers to anything that is culturally embedded locally and integrative globally. It covers research that is culturally grounded in the local reality while at the same time accounting for the global context. An integrative view requires a broad approach including both indigenous (local) and contemporary (global) views of leadership, while a holistic approach requires the incorporation of the knower, the knowable process and knowledge of leadership from all possible perspectives and purposes. The integrative definition schema is applicable as a theoretical framework for a broader range of organizations and purposes embedded locally and globally. By re-defining leadership in an integrative way an organization incorporates all relevant views and the purposes (goals and objectives) of all relevant stakeholders and may enhance feelings of intrapersonal and interpersonal harmony and connectedness with a higher being or feelings of transcendence.
Keywords: Leadership; Schema; Definition; Integrative; GLocal Fundamental Research.
Value Relevance of Accounting Information: Comparative Study of Indian Public and Private Sector Banks
by Meena Bhatia, Mwila Mulenga
Abstract: The present study is taken up with an objective of finding out difference if any in the value relevance of earnings per share and book value per share between private and public sector banks listed on Bombay Stock Exchange, India. Using a valuation model provided by Ohlson (1995), the study uses data for a period of 15 years from 2002 to 2016.Findings of our study show that 1) earnings per share (EPS) and book value per share (BVPS) jointly and individually are positively and significantly related with market share price of public sector banks, private sector banks, and all banks; (2) The incremental information content of BVPS is greater than that of EPS in public sector banks. While in private sector banks, EPS add more to the overall explanatory power of the model than BVPS. (3) The common explanatory power of EPS and BVPS is greater in public sector banks, which is 49.8%. (4) Overall findings reported that accounting information in public sector banks is more relevant than that of private sector banks.
Keywords: Value relevance; earnings per share; book value per share; accounting information; share price; India; banking sector.
Modeling the causal relationship between Justice and Citizenship Behaviors: An Indian Perspective
by Pooja Garg, Renu Rastogi, Parul Malik
Abstract: This study empirically investigates the nexus between organizational justice and organizational citizenship behavior among employees working in Indian automobile industries. The present study results affirm that citizenship behavior is determined by the perceptions, which employees hold about justice in their organization. The study data were collected from 200 employees working in automobile industries in India using convenience sampling method. The collected data were subjected to exploratory factor analysis and further confirmatory factor analysis (CFA) was utilized to confirm the factorial structure of the study constructs. Finally, structural equation modeling (SEM) was conducted to test the study hypotheses. The study results revealed a positive influence of perceived organizational justice factors on citizenship behaviors. In addition, the analysis of the data indicated the emergence of another dimension of justice perception, which was labeled as informational justice. The findings asserted that employees justice perceptions significantly augment their citizenship behaviors and lubricate the social fabric of the organization leading to effectiveness.
Keywords: Organizational Justice; Organizational Citizenship Behaviors; Informational Justice; Automobile sector; India.
HOW IMPORTANT IS APPLICANTS PERCEPTION ABOUT JOB RELATEDNESS OF SELECTION PROCESS?
by Mrityunjay Tiwary, Divya Upadhyay, Shobhit Aggarwal
Abstract: We study how the perception of job applicants about job-relatedness of the selection procedure impacts (1) the outcome of the selection process, (2) willingness of the applicants to recommend the employer to others, and (3) the decision to accept the job offer after the applicant successfully clears the test process. We survey graduating MBA students appearing in campus recruitment processes at the premier management schools in India in order to measure the perception about selection procedures of firms. We use two measures to identify applicants perception: face validity and perceived predictive validity. The results suggest that when the candidates are unable to understand the relevance of a test, they are less likely to get selected in the test or recommend the employer to other applicants. However, we find that it is only the face validity and not the predictive perceived validity of the selection tests, which positively affects the likelihood of a selected candidate accepting the offer. The findings of the study have direct implications for the practitioners. The study shows that organizations that explain the relevance of their selection procedures to applicants are more likely to increase their access to talent pool.
Keywords: Applicants' perception; job relatedness; recommendation.
Role of Financial Knowledge, Financial Socialization and Financial Risk Attitude in Financial Satisfaction of Indian Individuals
by Kumar Saurabh, Tanuj Nandan
Abstract: In this study an attempt is made to investigate the factors that influence financial satisfaction of an individual. Focusing on Tier-II city of India, the purpose of present study is to examine the influence of financial knowledge and financial socialization on financial risk attitude and thereby on the financial satisfaction of an individual. The authors have borrowed and modified scales from literature on financial knowledge, financial socialization, financial risk attitude and financial satisfaction to create a questionnaire. The same has been distributed to respondents belonging to a tier II city of India. The mediated regression analysis was performed on hypothesized relationships after having analyzed the reliability and validity of the scales. Significant positive relationships are found between financial knowledge and financial risk attitude and financial satisfaction. The relationship between financial socialization and financial risk attitude and financial satisfaction are also found to be significantly positive. Financial risk attitude is observed to bear a mediating affect between financial knowledge and financial satisfaction, as also between financial socialization and financial satisfaction. This research is an attempt to develop a framework for financial satisfaction in a developing country, aimed at the most vulnerable economic class. It is based on data from India, and the results have been found to be significant.
Keywords: Financial Knowledge; Financial Socialization; Financial Risk Attitude; Financial Satisfaction; Mediated Regression Analysis; India.
Inferring causal relations among key change management variables : A structural equation modelling approach
by Shalini Talwar, Reena Mehta
Abstract: The study measures a causal model establishing relationship among five variables, namely, leadership, communication, culture, training and motivation that impact the efficacy of the change management programme in any organization. In the proposed model, leadership is hypothesized as the independent, motivation as the dependent and communication, culture and training as the mediating variables. Structural equation modelling approach is used to test the model. The study contributes to the change management literature in two main ways. The first is the formulation of a causal model among the variables that have been hitherto studied in isolation, albeit extensively, and the second is researching the impact of these variables, studied mostly for the developed western countries, in the context of an emerging economy like India. The results indicate that leadership has both, a direct positive impact on motivation as well as an indirect impact through communication, culture and training. Further, this impact is moderated by the effect of gender and sector of employment.
Keywords: leadership; communication; culture; training; motivation; change management ;structural equation modelling; AMOS; mediation; multigroup; direct effect; indirect effect; path analysis; exploratory factor analysis; model fit indices.
Why do Leadership Development Efforts Fail in Organizations in India and What can be done about it?
by Abinash Panda
Abstract: Despite the access to significant insights and understanding on leadership and leadership development in the world of scholarships and availability of resources for grooming leaders, organisations in India still experience the brunt of leadership deficit (Panda, 2017; Hou, 2010; Shyamsunder et al., 2011). Why do leadership development efforts of organizations fail in grooming leaders?
The author in this paper argues that Indian employees, due to the primary socialization process in most Indian families lacks psychological readiness for taking advantage of developmental opportunities. Business organizations, both domestic and multinationals, either do not pay attention to it or take it for granted. Hence, the time and money spent on leadership development interventions, programs and activities has little impact.
The author delves into (a) the need for psychological readiness to become a leader, (b) how and why employees in India lack psychological readiness and (c) what business organizations in India should do about it. While doing so, the authors covers the process of becoming a leader, and challenges of leadership development in business organizations in India. The author in this paper has proposed PEAR framework of Leadership Development.
Keywords: Leadership Development; Psychological Readiness; PEAR Framework of Leadership Development; India; Effective leadership in India.
Make in India A great path forward for operational excellence and cost reduction opportunities for Electronics Industry
by Madhukar Patil, Suresh Marappan
Abstract: The Indian Electronics Industry is growing according to increase in demand for electronic products in local as well as overseas market. Based on the analysis of reviews, India has been best choice of Chip design Industries to set up their offshore design centers. Many top companies from semiconductor sector has their design houses located in India, but have manufacturing centers at different places in world except India. Moreover silicon validation boards & solutions are preferred to be manufactured either in China, Taiwan, Malaysia & some other developing countries. Rising manufacturing costs in China lead India as alternate destination. Currently design centers from India support both chip design and validation activities for products delivered across the world. In addition to that most of the semiconductor industries and other electronics device Original equipment manufacturers are developing new solutions to enter the online market.Due to recent Indian governments Make in India initiatives to boost local manufacturing of semiconductor components/devices, few Industry players have come up with their own plans to invest in semiconductor manufacturing units in India. In the study we attempt to establish a new engagement model to enable new electronics manufacturing services (EMS) partner in India. The objective is to showthat if we manufacture silicon validation platforms / solutions locally in India, the schedule as well as cost can be brought down drastically. Moreover engaging local EMS partner starting from the design phase of product reduces the overall cost, improves execution speed and brings agility to the system.
Keywords: Indian electronics industry; Internet of things (IoT); Chip design industries; electronics manufacturing services (EMS); Make in India.
Delineating problems faced by artisans of Rajasthan: A case of emic-etic-emic analysis of the customer perspective
by Preetika Garg, Amita Walia
Abstract: We explore the challenges of the handicraft industry by delineating the difficulties faced by the artisans involved in handicraft sector through urban haats. Data was collected from 500 customers visiting various haats known as prime spots for ethnic handicrafts in the urban city of New Delhi, India. The study attempts to understand Indian handicrafts from an ethnic and urban perspective. We present the work by combining emic and etic research approaches. It was found hands-on labor work, lack of skill; licensing and other regulations along with the standard supply chain have a significant effect on decisions associated with participation in haats. We recommend identifying talent from the grassroots level and preserving local arts and culture by promoting the same at the global level. Vocational training, financial support, education, industry-wide encouragement, and authentic distribution channels are some proposed ways to meet the potential of the said sector.
Keywords: emic; etic; handicrafts; artisans; consumer; urban haats; hands-on labor work; lack of skill; licensing; Rajasthan.
Special Issue on: NMC 2017 Influence of Culture on Marketing Practices in India
Desire and Likeliness to Buy Luxury Products: Mapping Perceptions using Multi-Dimensional Scaling
by Pearly Saira Chacko, Hareesh N. Ramanathan, Sanjeev Prashar
Abstract: The desire for luxurious products is a phenomenon which was reported even from the pre-historic era. In the west, much research has proven beyond doubt that luxury consumption which was once considered to be sinful' and wasteful', is now a way of life. When it comes to the case of women, craving for luxurious products are evident in some form or the other. There is a considerable lacuna in the literature concerning the product categories that woman in India desire. This paper investigates product categories that women consider desirable and consequently tempted to purchase and the paper also creates a perceptual map that signifies the similarity of the product categories. Multi-dimensional scaling was used to map the aspiration to possess and willingness to purchase the luxury products in the near future. The results of this study are highly beneficial to both the practitioners as well as to the academia; as this research will provide a better understanding of the customer perception of their desire for conspicuous products.
Keywords: Luxurious products; Perception Mapping; Desire to own; Likeliness to buy; Multi-dimensional scaling; Conspicuous Consumption; Materialism; Product Category.
Effect of Consumer Self-Confidence and Previous Experience on Information Source Preference
by Utkarsh Utkarsh
Abstract: Despite the importance of personal factors in information search behaviour, very few researches have been conducted that explore the influence of personal characteristics such as consumer self-confidence on information source preference in the Indian context. To fill the gap, this study aims to investigate the information source preference of Indian consumers. By analysing quantitative data from a cross-sectional survey of 527 Indian consumers, we have revealed several interesting findings. Consumers utilisation of internal search is significantly different as per the level of previous experience in case of goods but not in the case of services. In addition, consumers, high in self-confidence, are more likely to search for information from different sources as compared to consumers who have a low level of self-confidence. The study contributes to the existing literature of consumer behaviour in the Indian context.
Keywords: self-confidence; information search; service marketing; information source; previous experience;personal sources; India; Smartphone; Hotel.