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International Journal of Indian Culture and Business Management

 

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International Journal of Indian Culture and Business Management (34 papers in press)

 

Regular Issues

 

  • Definition Schema for Redefining Leadership: An Integrative Approach   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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?   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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?   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.
    DOI: 10.1504/IJICBM.2018.10014527
     
  • Media Effect on Individuals in Cultural Transformation of Shekhawati Region: A Case Study   Order a copy of this article
    by Anuradha Mishra 
    Abstract: It is seen that media access influences the opinion formation of an individual, affecting their decision making ability in bringing an attitudinal change leading to a social transformation. In India the technologically driven media has reached rural parts of the country and seems to be greatly influencing the indigenous culture of Lachhmangarh village of Shekhawati region; Rajasthan. To understand the extent of cultural transformation, various factors of culture i.e. food, lifestyle, art and architecture, costume, music, dance, language and festivals are studied. The study attempts to identify the penetration of media and subsequent positive and negative influence on cultural transformation. It also attempts to analyse efforts undertaken by media and government to preserve the culture. The researcher conducted ethnographic study validating it through method triangulation. 200 respondents filled questionnaires formed the quantitative data while qualitative data was collected through observation method, in-depth interviews and focused group discussion with 50 respondents each.
    Keywords: Media; Cultural Transformation; Individuals and Media Effects; Food; Lifestyle; Art and Architecture; Costume; Music; Dance; Language and Festivals.

  • Trusting Supplier from Different Culture: An Empirical Study of Indian Customers   Order a copy of this article
    by Neeru Sharma 
    Abstract: The purpose of this paper is to investigate if, how and to what extent Indian customer firms trust varies according to where their supplier is based-Europe, North America or Australasia. Further, the paper investigates how trust varies in new and ongoing international trading relationships. A two component trust measure was conceptualised and assessed using confirmatory factor analysis. Test of analysis of variance was used to examine whether trust is different in culturally diverse supplier relationships. Structural path modelling was used to examine links of the two components of trust to relationship commitment \r\nand cooperativeness. The analyses reveals that the Indian partners trust manifests consistently across culturally diverse business relationships. However, the role of trust varies by the age of the business relationship. This paper not only extends the domain of trust in international contexts, but is also an important step to broadening our understanding of business-to-business relationships across cultural borders. \r\n
    Keywords: Business relationships; trust; culturally diverse B2B relationships; Indian firms’ cross border trading relationships.

  • Accounting Conservatism and Corporate Governance: Evidence from Indian Banking Sector   Order a copy of this article
    by Sushma Vishnani, Meena Bhatia 
    Abstract: This study examines the relationship between accounting conservatism and corporate governance in the Indian Banking sector. Trust in banking system of a country requires presence of efficient corporate governance mechanisms. Conservative accounting practices supplement corporate governance effectiveness as they are supposed to curtail opportunistic behavior of managers, counters agency problems and promotes efficient contracting mechanisms. This study hypothesized that better governed banks shall be more conservative than the others. For the purpose of this study Basu (1997) Model is used for measuring conservatism and Sarkar (2012) rankings as corporate governance measure. The results of this study confirm that better governed banks follow more conservative accounting practices.
    Keywords: accounting conservatism; banking; corporate governance; asymmetry; India.

  • A PATH FROM CULTURAL VALUES TO MOBILE TRAVEL APP USE   Order a copy of this article
    by Naman Sreen, Pradip Sadarangani, Giridhar Vishlavath 
    Abstract: Wireless technologies have emerged as a cheaper alternative over traditional channels for travel and tourism. This research investigates the impact of cultural features on technology adoption for travel. The context is the adoption of technology, among Indian consumers, through the extension of the technology acceptance model (TAM). The research links Hofstede's 'cultural dimensions' of 'collectivism' and 'long-term orientation (LTO)' and 'personal innovativeness' from Rogers' conceptualisation of 'diffusion of innovation' to determine mobile travel app intention. This research also examines the role of an individual's 'privacy concerns' on the choice for mobile travel apps. The study finds that collectivism and LTO are insignificantly related to the two predictors [perceived usefulness (PU) and perceived ease of use (PEOU)] of mobile travel app intention in TAM whereas PI is significantly related to both predictors of mobile travel app intention. In conclusion, it is shown that the privacy concern issues related to mobile travel apps may not impact mobile travel app intention if an app is perceived as useful and easy to use. The study creates a path from cultural features to technology adoption and provides insights for an emerging market scenario.
    Keywords: Perceived Usefulness (PU); Perceived Ease of Use (PEOU); Collectivism; Long-term orientation (LTO); Personal Innovativeness (PI); Privacy Concern (PC); Technology Acceptance Model (TAM).
    DOI: 10.1504/IJICBM.2019.10015965
     
  • Short run and long-run dynamic linkages between Indian and U.S. stock market   Order a copy of this article
    by SHILPA GOYAL, ANAND BANSAL 
    Abstract: Abstract: The integration of international financial markets is a widely researched topic which has drawn the focus of researchers worldwide. The purpose of the paper is to investigate the co-movement between Indian and U.S stock markets using closing daily values of Dow Jones Industrial Average and the S&P 500 index for the U.S and the BSE SENSEX and CNX NIFTY for the Indian markets. The interlinkage was investigated using the Johansens co-integration test, Granger causality test, VAR model and Variance Decomposition Analysis after conducting the unit root test. The outcome of Johansens co-integration test indicates that no long-run equilibrium relationship exists between the Indian and U.S stock markets. Further, unidirectional causality runs from the US to India hence the returns of the U.S market influenced the Indian market returns but vice versa doesnt hold true. The results have implications for investors who can get the benefits from portfolio diversification in the short and long run in the U.S market.
    Keywords: ADF; Unit Root; Co-integration; Granger Causality; Indices; Diversification.

  • THE STUDY OF BRAND EXTENSION AMONG GENERATION Y IN INDIAN MARKET   Order a copy of this article
    by RICHA JOSHI, RAJAN YADAV 
    Abstract: Brand extensions are viewed as a strategy to expand the portfolio of a company and also for taking the advantage of an established name in the market. The study is aimed at understanding the variables which effect brand extensions. The study has proposed a framework for understanding brand extension and the impact of various variables on brand extension. The framework for the study is empirically tested with the help of Structural Equation Modelling (SEM). Survey of 234 customers is done by using brand Coca-Cola as a stimulus, and its brand extension Coca-Cola zero which is a zero sugar variant. The study is based on generation Y customers in Indian market. It has identified that the effect of Perceived Risk, Consumer Innovativeness, Parent Brand Reputation and Perceived Quality on Brand Extension was positive and significant.
    Keywords: Brand Extension; Coca-Cola; Consumer Innovativeness; Generation Y; Parent Brand; Perceived Risk; Perceived Quality.

  • Communicative competence and subjective well-being: The mediating role of organization-based self-esteem   Order a copy of this article
    by Payal Mehra, Anubhav Mishra 
    Abstract: While existing research has identified the psychological advantages of interpersonal competence in various contexts, less attention has been given to address the underlying mechanism(s), especially in a workplace environment. This study examines the mediation effects of organization based self-esteem in the relationship between communicative competence and subjective well-being. The results suggest that communicative competence has a positive association with well-being and this link is mediated by self-esteem. Also, the moderating roles of demographic factors such as family structure, place of stay in childhood, family environment, and designation have been examined in this study. Our findings indicate that competent communicators having high organization based self-esteem (vs. low self-esteem) report higher well-being. Therefore, we recommend that organizations should focus on and cater to both the communicative competence as well as the self-esteem needs of employees.
    Keywords: Communicative competence; organization-based self-esteem; subjective well-being; family environment; designation; job experience; PLS-SEM; SmartPLS.

  • Business Networks in an Auto-Component Cluster of India: A Study of Gurgoan Auto-Component Cluster   Order a copy of this article
    by Dinesh Rawat, Raj K. Mittal, Vijita S. Aggarwal 
    Abstract: The purpose of this paper is to find out the different types of business networks formed by firms with the stakeholders present in a cluster, i.e. how firms in a cluster interact with the cluster stakeholders? This study uses an exploratory research design which is carried out in two stages, first stage involves use of primary data which was collected through semi-structured personal face-to-face interview mode and second stage involves survey research method where data was collected through survey questionnaire. The study has identified four types of business networks between a firm and its buyers, only one type of business network with the suppliers and educational institutes respectively, and lastly two types of business networks with government agencies. However with respect to business networks with other stakeholders like research institutes and competitors, the study shows that the interaction between a firm and these stakeholders remains largely unfilled.
    Keywords: Auto-component cluster; Business networks; Clusters; Cluster stakeholders.
    DOI: 10.1504/IJICBM.2019.10016669
     
  • Acquisition Motivated IPOs: The Indian Evidence   Order a copy of this article
    by Ajay Garg, Sonia Garg 
    Abstract: This paper attempts to study the takeover activities of newly public (IPO) Indian firms using a two-pronged approach. Firstly, it investigates the role of an IPO firm in the post IPO M&A market as a target and/or as a bidder. Secondly, it examines the acquisition activity of IPO firms around the IPO period. The results of this study point out that Indian IPO firms have a higher propensity to enter the post IPO M&A market as acquirers rather than targets. Further results indicate that the number of acquisitions made by IPO firms increase dramatically in the post IPO period across industries.
    Keywords: IPOs; M&A; India.
    DOI: 10.1504/IJICBM.2019.10016670
     
  • The emergence of academic ghost writers from India in the international contract cheating industry   Order a copy of this article
    by Thomas Lancaster 
    Abstract: The modern contract cheating industry allows students and ghost writers to connect to each other over the internet, often using through an essay mill, agency website or other third party service. Contract cheating sees students undertaking the ethically questionable practice of trying to gain academic credit using original work that they have covertly used a third party to produce. The contract cheating industry is international by nature, but little is known about the ghost writers circumventing academic integrity processes by supplying academic work to students. This paper analyses and profiles the ghost writers offering contract cheating services from India. This is based on data openly available on a freelancing website that operates like an essay mill, including information on the projects ghost writers have completed and the marketing techniques these writers use. It is hoped that understanding the ghost writers will aid instructors in taking preventative measures against contract cheating.
    Keywords: contract cheating; academic integrity; academic misconduct; plagiarism; freelancing; contracting; outsourcing; essay mills; ghost writing; India.
    DOI: 10.1504/IJICBM.2019.10016671
     
  • Corporate Social Responsibility- A Case Study of The Satya Bharti School Program   Order a copy of this article
    by Saurabh Mittal, Shalini Aggarwal 
    Abstract: Providing quality education to its citizens is one of the major goals for any nation. India, with a large population without access to the basic school education has taken numerous steps like 'Sarv Shiksha Abhiyan', 'Beti Padhao Beti Bachao' and corporate has also taken various initiatives under their CSR budgets. The Satya Bharti School Program by Bharti Foundation was launched in the year 2006, to the benefit of poor children and providing them quality education for free. This program aims to transform students into confident educated citizens and add to the country's growth and dignity. The uniqueness of this program lies in partnerships with other companies and people to get involved in the mission of long lasting sustainable impact in education. This case study emphasises on the various unique strategies to implement this education program on large scale, successfully dealing with the challenges and making it a well appreciated program.
    Keywords: Corporate Social Responsibility; CSR; Quality Education; Satya Bharti Schools; Sustainable Impact; CSR Strategy; Educating Underprivileged Children; Bharti Foundation.
    DOI: 10.1504/IJICBM.2019.10016673
     
  • The Cauliflower Dilemma !   Order a copy of this article
    by Gaurav Gupta, Vikas Kumar, Mandakini Paruthi, Priyam Mendiratta 
    Abstract: Present case shows the plight of small farmers during demonetisation drive in India. This unprecedented move by the Government of India has led the entire economy in a state of sudden shock and small farmers found themselves, very much helpless and confused. The case visits the production cycle of cauliflower from the perspective of a small farmer and traverses the complete journey of money borrowing for different phases of agricultural production. Options available to the farmers have been described with a comparative perspective. Both the formal and informal aspects of agricultural business have been presented in a typical Indian scenario with relevant stakeholders. The case presents a very practical perspective of small farmers in India, hence ideal for understanding this most significant activity of Indian activity.
    Keywords: Demonetization; Vegetable Production; Agricultural Loan; Pradhan Mantri Jan DhanYojna.
    DOI: 10.1504/IJICBM.2019.10016707
     
  • Antecedents of Brand Consciousness in Youth for Denim Jeans: Evidences from the Largest Young Consumer Base in the world   Order a copy of this article
    by Arvind Kumar 
    Abstract: Consumers nowadays start recognising the brands at a very young age, in fact, at the very initial years of their teen ages. Moreover, they are mostly done with the establishment of their brand preferences by the time they are in between 15 to 25 years. So, if a brand wants to be successful in the long-run, it is the youth where it should put some serious efforts at. Doing so becomes more obvious in those products categories which youth is presently the buyers of and will continue to buy them throughout their life. Present study evaluates the brand perceptions of youth from India in one of such product categories. Particularly, it studies their brand consciousness and checks if there is any sort of influence of quality consciousness and self-consciousness on their brand consciousness. Besides it, it also attempts to verify the influence of product involvement on their brand consciousness.
    Keywords: Youth; brand consciousness; brand loyalty; self consciousness; purchase decision involvement (PDI).
    DOI: 10.1504/IJICBM.2019.10016709
     
  • Examining the Attitude of Women towards Beauty Salons in Tier II cities in India   Order a copy of this article
    by Ratna Paluri, Saloni Mehra 
    Abstract: While there is a growing demand for beauty care services in India, little research is reported on what consumers look for in such services. This paper aims at identifying factors that affect the attitude of women towards beauty care services such as beauty salons. Based on the factors identified, the market is segmented and the characteristics of the women in each of these segments are presented. Principal component analysis was used to identify factors. These factors were then used to conduct a cluster analysis. Six factors were identified, which were then used to identify three clusters of consumers. Analysis of variance for the factors showed the characteristics of respondents in three groups were distinct. Implications and limitations for further research are discussed towards the end.
    Keywords: consumer attitudes; beauty salons; cluster analysis; factors; segmentation; India.

  • Indian Culture, Lunar Phases and Stock Market Returns   Order a copy of this article
    by KASILINGAM LINGARAJA, JUSTIN PAUL, MURUGESAN SELVAM 
    Abstract: Return from the Indian stock market has been very attractive for investors from around the world during the last decade. Taking into account the importance of this emerging market, we examine the relation between lunar phases (Full Moon and New Moon Days) and the stock market returns from India, linking with Indian culture. Moon has a natural power which plays a significant role in phenomena of nature and also on human behavior and stock market returns. The main purpose of the study is to examine the lunar effect on the Stock Markets and to test the normality and volatility of daily returns. Five major sectorial indices from the National Stock Exchange (NSE) were selected to investigate the relation between lunar phases and the stock market returns. Statistical tools like Descriptive Statistics, GARCH (1, 1) Model and Granger Causality were used to test the hypothesis and fulfill the objectives of this study. The results imply that the moon cycle affects individual mood & thinking process and leads to stock market volatility. The findings of this study would help the investors to formulate investment strategies to earn expected returns in the market.
    Keywords: Lunar Phases; Moon Cycles; Stock Market; Descriptive Statistics; GARCH Model and Granger Causality.

  • Indian women in grassroots socio-political institutions: impact of microfinance through self-help groups   Order a copy of this article
    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 programs in India is carried out through women self-help groups (SHGs). 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 women's 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; SHGs; participation; role performance; women empowerment.
    DOI: 10.1504/IJICBM.2018.10016713
     
  • A study on impact of key factors affecting buying behaviour of residential apartments: a case study of Noida and Greater Noida   Order a copy of this article
    by Narendra Singh, Mukul Gupta, Saroj Kumar Dash 
    Abstract: This research attempts to discover the major key factors affecting the buying decisions of customers to buy residential apartments in Noida and Greater Noida. The sample consisted of those respondents who either bought an apartment in the previous year or were planning to buy in the upcoming years. Data were collected through a questionnaire. The collected data were analysed with the help of SPSS. The result shows that the most important affecting factor is 'structure and design' among other factors. Further, the study suggested that real estate marketers should give importance to the extracted factor while offering apartments in the market.
    Keywords: buying behaviour; residential apartments; marketing; real estate; SPSS; Noida; Greater Noida.
    DOI: 10.1504/IJICBM.2018.10016714
     
  • Causality between electricity consumption and economic growth: empirical evidence from India   Order a copy of this article
    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 2004-2005 prices for India using annual data covering the period 1970-1971 to 2015-2016. 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 bidirectional causality flow from economic growth to electricity consumption in India. Thus the Government of India has to face the numerous energy challenges in the future.
    Keywords: electricity consumption; GDP; causality; error-correction model; India.
    DOI: 10.1504/IJICBM.2018.10016715
     
  • Influence of organisational justice on intention to stay of IT professionals   Order a copy of this article
    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 organisation. The outcomes propose that the perceived fairness in interpersonal treatment may impact employee's intention to stay more than the distribution of organisational rewards and fairness of organisational procedures. This information could be used by managers to manage the level of interactional justice to enhance employee's 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 organisational settings as well.
    Keywords: distributive justice; procedural justice; organisational justice; intention to stay; interactional justice; IT professionals.
    DOI: 10.1504/IJICBM.2018.10016716
     
  • Duties of directors in corporate governance: an Indian perspective   Order a copy of this article
    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 the 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 addresses the legislative response to corporate governance challenges in the Indian context and also suggests 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.
    DOI: 10.1504/IJICBM.2018.10016718
     
  • An exploratory investigation of motivation orientations of Indian business students: implications for educators   Order a copy of this article
    by Suresh Gopalan, Moula Cherikh, Lalitha Balakrishnan 
    Abstract: India's 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 memorisation 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; motivated strategies for learning questionnaire; MSLQ; cluster analysis; India.
    DOI: 10.1504/IJICBM.2018.10016717
     
  • Intrinsic motivational potential inventory: development of a measure   Order a copy of this article
    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 terms 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 33 items. This measurement tool would prove useful for practitioners and researchers in understanding and assessing the intrinsic motivational potential. Additionally, this paper discusses 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; IMPI; behavioural trait assessment.
    DOI: 10.1504/IJICBM.2018.10016719
     

Special Issue on: National Conference on Managerial Perspectives, Issues, and Challenges of Swachch Bharat Abhiyan 2014 Managerial Perspectives, Issues and Challenges of Swachch Bharat (Clean India) Campaign

  • Swachh Bharat Mission: An Analysis of Perception of Public with respect to cleanliness in general and on implementation of Swachh Bharat Mission in particular, with special reference to educational institutions in Delhi   Order a copy of this article
    by Sanjiv Mittal, Aarti Dhanrajani 
    Abstract: Cleanliness is a major factor responsible for development of any nation. We live in developing economy where majority of our efforts are directed towards increasing economic activity. In this process, sanitation and cleanliness is often neglected even though they play a key role in development of an economy. Clean and hygienic environment ensures less number of diseases and healthy people, which in turn leads to increase in productivity. Hence, cleanliness can be considered as a major investment which has high returns. A number of policies have been framed by Government of India from time to time and various schemes have been launched to create awareness among public with regard to cleanliness. However, despite all such schemes having been launched by Government of India, by and large, there is still indifference among public about hygiene and cleanliness, especially about maintaining cleanliness in public places. The present paper tries to analyze the perception of Urban Public living in Delhi about the cleanliness in general and implementation of Swachh Bharat Mission in particular.
    Keywords: Cleanliness; Swachh Bharat Mission; Sanitation.

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   Order a copy of this article
    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   Order a copy of this article
    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.