International Journal of Indian Culture and Business Management (36 papers in press)
Media Effect on Individuals in Cultural Transformation of Shekhawati Region: A Case Study
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
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
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
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).
Short run and long-run dynamic linkages between Indian and U.S. stock market
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
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
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
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.
Acquisition Motivated IPOs: The Indian Evidence
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.
The emergence of academic ghost writers from India in the international contract cheating industry
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.
Corporate Social Responsibility- A Case Study of The Satya Bharti School Program
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.
The Cauliflower Dilemma !
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.
Antecedents of Brand Consciousness in Youth for Denim Jeans: Evidences from the Largest Young Consumer Base in the world
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).
Examining the Attitude of Women towards Beauty Salons in Tier II cities in India
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
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.
Capital Budgeting Practices: A Survey in the Selected Indian Manufacturing Firms
by Saurabh Chadha, Satyendra Kumar Sharma
Abstract: The purpose of this study is to investigate the capital budgeting practices prevalent in the selected Indian manufacturing firms. The study also determines the factors which sample firms consider for the ascertainment of their cost of capital. Further, the study throws a light on some of the issues which led to the ignorance of scientific evaluation techniques of project appraisal. The study was conducted with the help of survey method. The findings of the survey show that payback period method and NPV method are the two most popular techniques of capital budgeting in the Indian manufacturing sector. Although, the overall weightage of the non-discounting technique is more when compared to the discounting methods. It was also found that WACC is the most used method to determine the cost of capital in the sample firms. Thus, this study provides a useful insight of capital budgeting practices of Indian manufacturing firms. The study will be helpful for investors who are looking to invest in Indian manufacturing sector under the Make in India program and it is the first study of its kind which covers the ignorance aspect of the capital budgeting techniques.
Keywords: Capital Budgeting; NPV; DCF; Financial Management; Capital Expenditure; Survey Method.
The Mechanism and Influence of Herding Effect in Investment Decision Making: Case of Enculturated actors
by Rajdeep Raut, Manish Kumar
Abstract: This paper attempts to broaden the standard financial discourse by bringing insights into human behaviour not just from psychology, but also from social anthropology. This study investigates the mechanism and influence of the herding effect in the investment decision making of individual investors. This study explores how individuals process information of social opinion in their decision making either by ignoring their own information (rational herding) or without ignoring it (irrational herding) and deviate from the realm of rational agents. For the purpose of investigation, a mixed survey approach was adopted. Data obtained from the respondents were analysed using SPSS statistical package 21.0. Results show that both rational and irrational herding were significantly differentiated by individual investors in their decision-making process on the ground of gender, age groups and investment experience, however marital status of respondents was not found significant to mark the herding effect in their decision making.
Keywords: Social Anthropology; Herding; Security Market; Decision Making.
Workplace Impression Management through pleonastic English words/phrases in email communication? Evidence from India
by Deepa Sethi
Abstract: The purpose of this paper is to examine how Indians manage impressions at the workplace through pleonastic English words/phrases in e-mail communication. A pilot study was conducted to identify the major courteous words frequently used in e-mails. It was carried out through focused interviews with 20 participants. Information obtained in qualitative research was summarised and subsequently used in creation of the questionnaire for the quantitative research purposes. The quantitative research included data collected from questionnaires distributed amongst 501 participants. This study establishes that usage of pleonastic English words/phrases in e-mail by the Indians is a crucial element of managing impressions. Demographics like: gender, type of organisation, age group also affect the usage of pleonastic English words/phrases. Pleonasm is an important rhetoric device, and e-mail is a vital part of written communication, yet few studies have examined the use of pleonasm in e-mails. While people might seem very task-oriented in their communication, this study shows that their everyday e-mail-writing practices play an important role in the process of leaving imprints on the receiver and also maintaining relationships by forming the right impressions.
Keywords: English; pleonastic; email; impression management.
Consumers Risk Relieving Strategy towards Branded Food Outbreak: The case of Maggie Noodles in India
by Moovendhan V. Vellasamy, Satish Kumar, Mayank Kothari
Abstract: This research aimed at various risk relieving strategies adopted by consumers of Maggie 2 Minute noodles in the post food scare reported in the recent past in India. Despite being a speculation of the major scare over the alarming level of MSG and lead in Maggie's 2 Minute noodles, the product is continuously patronised by the consumer. The survey-based research using structural equation modelling (SEM) technique was employed to test the significance of seven risk relieving strategies identified from the literature. The research finds that the consumers are still purchasing Maggie 2 Minute noodles due to the high brand image associated with the product which is followed by product quality. The price was found to be the least risk relievers among the consumers.
Keywords: Consumer Risk Reliving strategy; Branded Food Scare; Consumer Perceived Risk; Maggie Noodles Food Outbreak.
Using Transcendental Phenomenology to Explore the Social Jugaads of Transacting Money Post Demonetization in India
by Shaili Singh, Abhishek Sharma, Shirsendu Nandi
Abstract: The present study investigates the post effects of demonetisation that occurred in India on November 8, 2016, through the first-person point of view experience. The paper analyses individual and collective construction of social jugaad or innovative solutions that local people adopted for depositing and withdrawing the money alone or with the help of others. The region of study is a small tier-2 city of Rohtak, in the state of Haryana, which is in the proximity of the national capital region of the country. The study applies transcendental phenomenology to capture the essence of individual experiences and assess the universal meanings of the phenomenon. This research could be useful in understanding the possible ways in which people would react to such a step of the government and provides information for policymaking, aimed at addressing currency disposal behaviours.
Keywords: Demonetization; social jugaad; transcendental phenomenology; social policy.
The Multiple Mediating Role of Brand Commitment and Brand Loyalty between Brand Identification and Brand Citizenship Behaviour: Evidence from IT companies in Bangalore
by Githa Heggde, Gayatri Sasi Thampi
Abstract: Purpose - The purpose of this paper is to determine and test the relationship between the variables of brand supporting behavior in internal branding, among employees and to ascertain whether brand commitment and brand loyalty act as multiple mediators between brand identification and brand citizenship behavior. It empirically assesses the relationship between the various brand attitudes.
Design/Methodology/Approach -The study employed quantitative research approach using a descriptive research design and survey as the research method or strategy. 400 employees from the top ten IT companies in Bangalore, were the respondents.
Findings - It proved statistically that there is parallel mediator effect between brand identification and brand citizenship behavior. It empirically shows the relationship between brand identification and brand citizenship behavior as well as the multiple mediational effects of brand commitment and brand loyalty.
Practical implications - The implication of this study is that the management can make use of brand identification to directly shape the behavioural attitude of employee branding, which is the employees brand citizenship behavior. Employee brand attitudes, the constituents of internal branding, are of utmost importance to an organization. This paper explores the perspectives on the four main brand attitudes (brand identification, brand commitment, brand loyalty and brand citizenship behavior) which bring about internal branding.
Keywords: Internal Branding; brand identification; brand commitment; brand loyalty; brand citizenship behavior.
The Case of Discovering Price of Eucalyptus Pulpwood in a South Indian State
by Sharadindu Pandey, Sandeep Tambe
Abstract: The case is about the dilemma faced by the top management of Telangana State Forest Development Corporation Ltd. (TSFDCL), a Telangana province of India owned public sector unit in pricing their public good. The provincial Industries Department had allotted the Eucalyptus pulpwood to a paper company, to revive this sick unit and asked TSFDCL to fix the price Hence, the main purpose of this case is to discover the base price of the public good, i.e., Eucalyptus pulpwood, by triangulating various approaches of pricing Auction is a widely used pricing method especially in the natural resource sector The selling environment of high volume public goods is fraught with risk as buyers are few and they tend to make cartels or settlements to affect the auction prices In addition, elements of political economy also influence the transparency of pricing Some of the high profile cases assessed by the national auditor.
Keywords: Natural resource pricing; statutory pricing; auction; state forest development corporation.
Efficiency of Thrift Agents of Small Urban Borrowers: The Case of Scheduled Urban Cooperative Banks (SUCBs) in India
by Padmasai Arora, Hitesh Arora
Abstract: Since their inception, co-operative banks in India have played a pivotal role in meeting the credit requirements of the unbanked and under-banked segments of the economy. In order to revitalize the urban cooperative sector, Reserve Bank of India (RBI) in 2004-05 introduced some major measures. This paper examines the effect of these reform measures on the efficiency of 50 scheduled urban cooperative banks (SUCBs). Data Envelopment Analysis (DEA) is employed to study the efficiency for the period 2003-04 to 2013-14. Results show that the efficiency of SUCBs dropped drastically in 2004-05 but recovered in 2006-07. However, a trend of gradual decrease in efficiency in SUCBs is being observed over the years. The present study also examines the correlation between size and efficiency and finds that there is no significant correlation between the two. Moreover, the correlation is negative. The present study also finds evidence that Vasavi Co-operative Urban Bank Ltd. and Zoroastrian Co-op Bank Ltd. are fully efficient. The authors are of the opinion that the central bank should chart out a road map for such efficient SUCBs for their growth as their vast network of credit delivery would help achieve the agenda of expanding financial inclusion in India.
Keywords: Banking; Scheduled Urban Co-operative Banks; India; Performance; Efficiency; Productivity.
Stakeholder Adoption of Eco-Innovation Strategies: Review of Indian Service Companies
by Sadhna Shukla
Abstract: Environmentalists and governments have used eco-innovation strategies to pursue economic growth, prevent environmental degradation, augment welfare and address societal challenges. This paper is committed to clarify the concept 'eco-innovation' in environmental sustainability. Based on the analysis, a conceptual framework of environmental strategies has been established to strengthen the application of stakeholder theory in environmental sustainability. The methodology is derived from the content analysis of company's websites, annual reports and business responsibility reports. This paper strives to investigate the influences of stakeholders on adoption of eco-innovation strategy of service firms. The analytical process elaborates the various barriers to technological innovations and technology diffusion. Therefore, this paper aims to synthesise the patterns and similarities on environmental sustainability and creating value for stakeholders within the multidisciplinary literature. Conclusively, implications for managers and public policy makers are discussed.
Keywords: Economic Growth; Eco-innovation; Environmental degradation; Environmental Sustainability; Societal Challenges; Stakeholder theory.
A Model of Retail Format Choice for a reasoned purchase: Conceptualizing role of Perceived Risk, Norms, and Behaviour Control in Indian Culture
by Anoop Kumar Gupta, A.V. Shukla
Abstract: Extant literature suggests that perceived risk affects retail format choice for important purchases like buying of shopping goods. A customer of a shopping good essentially makes a choice of retail format between online, organised, or traditional formats. The purpose of this study is to understand this choice behaviour by conceptualising a new risk-behaviour framework, with Fishbein and Ajzen's (2010) reasoned action model (RAM) as its' theoretical backbone. An extensive literature review regarding role of perceived risk in retail format choice and application of RAM in consumer behaviour has been done to develop the propositions and the conceptual framework. Additionally, owing to the collectivist nature of Indian culture, RAM has been contextualised, and interdependencies among its determinants have been proposed for Indian customer. The proposed reasoned retail format choice model and propositions are empirically testable for validation in future studies.
Keywords: retail format choice; reasoned action model; perceived risk; attitude; perceived norm; perceived behaviour control; conceptual framework; shopping good; collectivism; Indian culture.
Paradigm shifts in Indian Retail
by Kiran Nair
Abstract: This paper studies the following concepts: Indian retail industry, its present trends and future scenarios. The planned retail outlets in growing cities in India have important pipelines and such metros are satisfactorily large and divert to accommodate a huge variety of new ordered layouts. The cities categorised as developing and emerging have chances of large development in organised retailing due to the quickly changing economic and market situation, which is well explained in the study. The study on retail business practices expresses the factors that lead to a deviation in the retail segment is because of the presence of heterogeneous groups of consumers with varying buying power, their value consciousness, and entry of new brands in the Indian markets and availability of Indian-based retailers with aggressive and ambitious expansion plans. While concluding the study it is seen that there occurs a large number of global retailers who are interested to the entire Indian market with favourable government policies and emerging technologies already in place looks promising enough for the growth of the retail sector.
Keywords: Retail Management; Consumer Buying Behavior; Economic and Market diversity.
Celebrity Use in Indian Advertising: Analysis and Appraisal
by Danish Hussain
Abstract: Important aspects regarding celebrity endorsers use in India were studied through a content analysis of TV commercials in order to better understand the strategies being employed relating to the practice. An attempt to appraise the practise in terms of the previous research on celebrity endorsers effectiveness was also made. Celebrity use, celebrity type and copy appeal in celebrity ads were found to be product specific. Celebrity role was specific to the celebrity type being used. Celebrity use was also found to be dependent upon the theme of the advertisement. Lastly, the findings revealed that to some extent the practice is in accordance with the suggestions made by the past research on celebrity endorsers effectiveness.
Keywords: Celebrity Endorsers; Content Analysis; TV Advertisements.
DISTRESSED DEBT INVESTMENTS IN INDIA What more needs to be done to strengthen regulations?
by Vikas Srivastava
Abstract: The paper suggests possible use of government guarantees and credit default swaps for turning around distressed infrastructure sector assets in India, where project finance bank loans are predominant source of funding. The paper lays down the evolution of distressed debt regulation through secondary research and argues out that even now with the introduction of Insolvency and Bankruptcy Code, 2016, political/regulatory risk is unmitigated. The turnarounds can be made more effective if fairly priced government guarantees can be modelled on the lines of credit default swaps. Distressed debt investors would then include the cash outflows for this guarantee in their valuation models. The paper uses a structural model to estimate probability of default on a sample of power companies and then lays down the conceptual framework for pricing the government guarantee. The paper concludes that this further improvement in regulations will, at the end of the day, be beneficial to banks, distressed debt investors, governments and even tax payers.
Keywords: Distressed Debt investors; Project and Infrastructure Finance;Credit Default swaps; Government Guarantees.
Product Adoption by BOP Retailers
by Surabhi Koul, HARI GOVIND MISHRA, SAHIL SINGH JASROTIA
Abstract: The current study is a beginning to know and understand the drivers of product adoption by the BOP retailers. Earlier researches have primarily focused on the profit oriented factors of retailing. This is a multidimensional approach to understand the concept of product adoption in terms of assortment planning by BOP retailers. The paper opted for an exploratory study using a mixed method approach which involves both qualitative and quantitative methodology. The paper uses concept of grounded theory to design a conceptual model and further validates it using SEM. The data was collected from villages of Jammu and Punjab.
Keywords: Assortment Planning; Product Adoption; Product Selection; Retail Margin; Retail Shelf Space.
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 (CMP) in any organisation. In the proposed model, leadership is hypothesised as the independent, motivation as the dependent and communication, culture and training as the mediating variables. Structural equation modelling (SEM) 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; SEM; AMOS; mediation; multi-group; direct effect; indirect effect; path analysis; exploratory factor analysis; EFA; model fit indices.
Why do leadership development efforts fail in organisations 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 organisations fail in grooming leaders? The author in this paper argues that Indian employees, due to the primary socialisation process in most Indian families lack psychological readiness for taking advantage of developmental opportunities. Business organisations, 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; c) what business organisations in India should do about it. While doing so, the author covers the process of becoming a leader, and challenges of leadership development in business organisations in India. The author in this paper has proposed PEAR framework of leadership development.
Keywords: leadership development; psychological readiness; India; PEAR framework; effective leadership.
Make in India - a great path forward for operational excellence and cost reduction opportunities for electronics industry
by Madhukar Patil, M. Suresh
Abstract: Electronic device industry in India is growing with increase of demand in local and overseas market. Many top semiconductor MNCs have their design houses located in India, however boards/systems are preferred to be manufactured either in China, Taiwan and Malaysia. Rising manufacturing costs in China enabling India as alternate destination. Currently design centres from India support both chip design and validation activities for products delivered across the world. Indian government's 'Make in India' initiatives promote industry players to come up with plans to invest in India. In this study we attempt to establish new engagement model to enable EMS partner in India for IoT and other sectors. If companies manufacture boards in India, the schedule and 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; agility; India.
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
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
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 another. 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, Pallavi Agarwal, Sanjay Medhavi
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. After analysing quantitative data from a cross-sectional survey of 527 Indian consumers, we have revealed several interesting findings. Consumer's 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 source; India; smartphone; hotel.
Glass ceiling for women and its impact on women's career progression in the Indian service sector: the moderating role of family structure
by Sakshi Sharma, Rajvir Kaur
Abstract: The aim of the present research paper is to study the effects of glass ceiling for women (GCW) on the career progression of women working in the Indian service sector and the moderating effects of family structure (nuclear and joint) on the relationship of GCW and women's career progression. GCW as a barrier includes three types of barriers, i.e., personal, organisational and societal barriers. A total of 553 women managers from the three industries of the service sector (banking, information technology and hospitality) were surveyed through structured schedules using multi-stage sampling technique. The results of the multiple regression analysis revealed that GCW in terms of organisational barriers and societal barriers predicted women's career obstacles while family structure partially moderated the relationship of GCW and women's career obstacles with regard to societal barriers only. On the other hand, personal barriers did not significantly affect the career progression of the women managers. The study is limited to the service sector and only one state of India. Further research could cover a wider area by including different sectors and states of India. Practical implications include the need for the organisations to provide equal advancement opportunities to deserving women managers irrespective of their gender.
Keywords: glass ceiling for women; GCW; career progression; women managers; family structure; Indian service sector; Indian culture.