International Journal of Indian Culture and Business Management (52 papers in press)
Relationship of Employee Advocacy and Turnover Intentions to Happiness of University Teachers in NCR, Delhi
by Ajay Bhatia, Farhat Mohsin
Abstract: The study was conducted to ascertain the relationship of workplace happiness of University teachers with their two key work-related outcomes, viz. employee advocacy and turnover intentions, at seven institutions of higher studies in NCR, Delhi. The study used a descriptive analytical survey design, and covered teachers with minimum six months of experience. Descriptive and inferential statistics were used to analyse with SPSS software. It was found that a significant proportion of teachers were in the low to moderate happiness zone. Although, their workplace happiness was related significantly with their advocacy index, however, net promoter score was at alarmingly low levels. Counter-intuitively, workplace happiness of teachers was found to be a relatively weak predictor of their turnover intentions. Equal proportions of teachers were found to be happy, but planning to leave. Study identified critical factors of teachers happiness impacting these two dimensions and makes specific recommendations to bring about improvements.
Keywords: teachers’ happiness; psychological well-being; employee advocacy; turnover intentions; employee outcomes; employee retention; higher education; net promoter score; NPS.
Dynamics of Capital Structure and Firm value of Indian listed firms: A PLS-SEM approach
by Nidhi SIngh, Shikha Bhatia
Abstract: The present study examines the determinants of capital structure and find their direct and indirect effect on firm value. Data considered for the present analysis was over the period of financial year 2013 to 2017, resulting in a dataset of 5445 firm-year observations for 1089 firms for five years. We used pooled based analysis using PLS-SEM approach. Our results explain that significant influence of nature of assets and firms growth on capital structure decision whereas the most significant variables influence firms value are firms growth followed by firms size. We also found the negative association between firms leverage and value. The present study results can be used to identify the predictors of firms leverage decision which leads to influence the value of firm.
Keywords: Capital structure; Firms Value; Nature of Assets; PLS-SEM,; Indian firms; India.
Impact of Factors Affecting Customer Satisfaction in E-Commerce among Indian Consumers: An Empirical Study
by Princy Francis, S. Sudeep, Alok Kumar
Abstract: Customer satisfaction is an important aspect of any commercial activity. It assumes greater importance in e-commerce due to the lack of personal contact between the buyer and the seller. Achieving higher customer satisfaction levels pose a challenge for e-commerce companies due to the increased spatial and temporal separation between companies and web consumers. The present study is to investigate the factors affecting customer satisfaction in e-commerce among online consumers in India. A survey was
carried out on 643 online customers. Structural equation modelling was applied to check the extent to which the considered variables predicted customer satisfaction in e-commerce. The results determined drive for technology acceptance, service quality, trust and social influence as key predictors of customer satisfaction in e-commerce. The practical contribution of the study is for online vendors by giving an insight into the perception of online customers about technology acceptance, service quality, trust, social influence and customer satisfaction towards e-commerce. Such understanding may enable managers to adopt effective marketing strategies steps to deliver their services more efficiently by creating trust in the mind of customers.
Keywords: customer satisfaction; e-commerce; online shopping; technology acceptance; service quality; TSTS E-SAT model; trust; social influence.
Which effective strategies for the fight against the worldwide coronavirus crisis?
by Amina OMRANE
Abstract: With the increasing spread of the coronavirus outbreak and the health crisis it causes for millions of human beings all over the world since December 2019, governments are struggling to adopt the best specific strategies in order to save human lives and curtail the virus spread. More precisely, governments, big public corporations as well as private companies are offering their support via a positive leadership and efficient operating systems as well. In this perspective, it seems then that digital tools/technologies can widely help to face more rapidly the coronavirus crisis and its devastating consequences. The present paper aims then at in-depth understanding of the coronavirus crisis, its main appearing phenomena, as well as the different strategies chosen by the different stakeholders/organisations in order to tackle it and sustain their survival Public administrative managers, as well as what entrepreneurs and managers can learn from the current study about how to handle such a crisis.
Keywords: COVID-19; coronavirus crisis; governments; countries; marketing strategies; business strategies of firms; charity; support.
Analyzing Nexus between Stock Market and Key Macroeconomic Variables using Cointegration and Causality Approaches
by Himanshu Goel, Narinder Pal Singh
Abstract: This paper aims to analyze the nexus between Bombay Stock Exchange (BSE) and macroeconomic factors. An empirical investigation has been conducted to determine the cointegration and causality between the macroeconomic variables and the Sensex using Johansens cointegration and Granger causality techniques. Monthly data points spanning a period of the last eight years starting from 2012 to 2019 has been used for empirical investigation. Empirical results the of cointegration technique reveal no cointegrating equations between the macroeconomic variables and the Sensex. The results of Granger causality reveal that only consumer price index Granger causes Sensex. Furthermore, the results of the regression model reveal rupee-US$ foreign exchange rate and Morgan Stanley Capital International world index to be significant. Also, the results show the absence of autocorrelation and multicollinearity in the dataset. The results of this paper can be of immense use for retail investors, portfolio managers, and policymakers.
Keywords: Macroeconomic variables; Johansen cointegration; Granger Causality; Indian Stock Market; Sensex.
Organic Agripreneurship for Inclusive Growth and Sustainable Development
by PANDURANGA V.
Abstract: Organic farming and natural processing of food grains is essential for sustainable development Increasing conscious of health has led to increase in demand for organic food grains The present study describes and analyses organic agripreneurship with specific reference to agribusiness of Mishras Farm located in Kamalapur taluka of Kalaburagi district in Karnataka State This study is based on primary data collected in February 2020 In depth interview of Mr Jeetendra Mishra, sole owner of Mishras Farm, as well as observation of various activities at Mishras Farm constitute sources of the data Mishra is practicing organic farming for past 10 years in his 27 acres of fertile land The farm is generating employment opportunities and livelihood for few families Reasonable pricing of organic food grains is the key strength of Mishras Farm Brief description of various activities of Mishra Farm forms the crux of the study. SWOT analysis is carried out.
Keywords: organic farming; organic food grains; agripreneur; inclusive growth; sustainable development; SWOT analysis.
Transmission of SARS-CoV-2 in Indian states during lockdown: Incorporating heterogeneity, and non-pharmaceutical interventions
by Rohit Sindhwani, S. Venkataramanaiah, Omkarprasad S. Vaidya
Abstract: Early exponential growth of any influenza pandemic is a result of heterogeneous population, where susceptible with high human contact may have spread the disease. The cases of ten worst infected states in India due to SARS-CoV-2 as on June 9, 2020 are modeled to find the number of super-spreaders. We propose the use of model considering heterogeneous population and non-pharmaceutical measures during lockdown considerations from March 25, 2020 to May 31, 2020 for the state specific transmission dynamics. A fixed sample of population element is measured before the COVID-19 outbreak. The impact of social distancing and personal hygiene through the empirical research is observed. We incorporated the behavior change in the models. Our results indicate that the vulnerability is high in Bihar, while the conditions in Delhi, UP and West Bengal may deteriorate in near future. We highlight that policy of testing, social distancing and personal hygiene should be continued.
Keywords: Influenza Progression; Lockdown; Pandemic; COVID-19; Reproductive number; Social distancing; Heterogeneous Population.
Is it Cost Saving or Environmental Benefits? Factors Influencing Energy Saving Behaviour amongst Consumers in India
by Swati Jain, Meenakshi Handa, Parul Ahuja
Abstract: In order to reduce energy consumption and greenhouse gas emissions, it is important for households to engage in energy saving behaviour. The study explores the different types of energy saving actions and select drivers of such energy saving behaviour amongst consumers in urban India. Data was collected through a structured questionnaire from consumers in Delhi NCR in an online mode (n = 241). The study identifies three forms of energy saving behaviour which are labelled as direct energy saving behaviour, indirect energy saving behaviour and energy efficient product purchase behaviour. Perceived environmental benefits, perceived economic benefits and perceived costs are examined for their impact on energy saving behaviour. Finally, a set of recommendations which encompass a multi-pronged strategy for encouraging energy saving behaviour amongst consumers is presented.
Keywords: Energy saving behaviour; perceived environmental benefits; perceived costs; perceived economic benefits; energy efficient products; sustainable development.
Commercial Bank Finance for SMEs and Credit Portfolio of Commercial Banks in India
by P.A. Ibrahim
Abstract: Despite the widespread belief that the commercial banks are the major source of external funding for SMEs, there are only limited studies have analyzed the SME lending pattern of commercial banks with the comparison of the total credit portfolio. This study empirically investigated the issue, using an ARIMA Model of the proportionate share of SME credit in the total credit portfolio of commercial banks of India from 1981 to 2019. The empirical results show that there is a significant increase in absolute credit to the SME sector along with the increase of total credit portfolio, but the proportionate share of SME credit shows a declining trend. The ARIMA model (1, 2, 1) predict the proportionate share of the SME credit for the next four years as declining. The study found that opaqueness of the firm and the negative attitude of the bank officials are the drivers of the downward trend.
Keywords: Total Credit; Absolute credit; Relative Credit; SME lending; Trend; ARIMA model.
RISING MORTGAGE FRAUD IN INDIA
by Soumen Sarkar, Sujit Kumar Paul
Abstract: Indian banks are laying emphasis on lending through mortgage of immovable properties, which is in turn augmenting asset backed exposures in their books of accounts and thereby attempts to increase the risk containment. This lending policy is apparently giving extensive boost to the Financial Inclusion objectives of our country. However, the increasing trend of mortgage frauds is giving rise to serious cause of concerns at various levels as a serious threat to Financial Stability of India. Hence, a need has been felt to carry out an in-depth study of the present mechanism followed in banking industry and government departments towards dealing with mortgage of immovable properties. The article illustrated a very usual case of a generic mortgage loan and revealed ease occurrence of frauds therein due to loopholes in system and process. Author also suggested systemic measures to plug the loopholes in the prevailing mechanism.
Keywords: Financial Inclusion; Financial Stability; Bank Fraud; Mortgage Loan; Priority Sector Lending.
Exploring the factors for enhancing Supply chain responsiveness in Logistics Industry: A case study of select Logistics companies in Delhi NCR Region
by A.V.Nageswara Rao
Abstract: The article examines the various factors which play a key role in enhancing Supply chain responsiveness in Logistics Industry. Digital Initiatives, Systems innovation, Information sharing are taken as Independent variables and Supply chain responsiveness as Dependent variable which includes Supplier Network responsiveness, Delivery and Service Quality. The policy of the Government and the changing Global business environment are taken as intervening variables . The structured questionnaire is pre-tested with Consultants, Practitioners, Academicians who have expertise in the area of Supply chain management. The target respondents are Managers who are involved in the Supply chain operations of the Organization. After initial scrutiny , the valid questionnaires are 100 which are further analyzed and interpreted using Factor analysis whereby select questions are grouped as Fifteen factors. Further Correlation and Regression analysis is carried out among the Supply chain Variables. The statistical results indicate the significant positive effect of Independent variables Digital Initiatives, Systems innovation and Information sharing on enhancing Supply chain responsiveness in Logistics Industry.
Keywords: Digital initiatives; Information sharing; Systems innovation; Supplier Network; Supply chain responsiveness.
NATIONAL RURAL LIVELIHOOD MISSION (NRLM) AND LIVELIHOOD SECURITY PROMOTION OF TRIBAL COMMUNITY IN JUNGLE MAHAL: AN ASSESSMENT
by Nirupom Roy, Manidipa DasGupta
Abstract: Though India has made momentous progress in reducing poverty still, 364 million Indian, specially the rural and backward caste would continue to experience acute deprivation. Thus, Government of India has introduced National Rural Livelihood Mission with the prime focus on organizing the unprivileged women section into SHGs. Hence, its role in promoting livelihood security for the Tribal communities should specially be taken care of. Here, an attempt has been made to find out what livelihood security factors could be detected as relevant as per improvement based on the perception of both Tribal and non-Tribal members of SHGs? Whether any difference in perception exists in between different socio-demographic groups? If so, whether any intra-difference can be found in responses of the Tribal members? Keeping these issues in mind, the study has undertaken a micro-empirical analysis where a Tribal dominated area like Jungle Mahal, West Bengal has been selected purposively.
Keywords: Self-Help-Groups; NRLM; Livelihood Securities; Tribal Communities; Jungle Mahal.
The relevance of ancient Indian business for developing economies
by Deeksha Ahuja, Pankaj Madan
Abstract: The roots of Indian business are from the era when India was called the
Keywords: Ancient Indian Business; Golden Bird; Economic Development; Developing Economy; Developed Economy; Trade and Commerce; Foreign Trade; Mode of Transportation; Mode of Exchange.
Project Management Processes are Important, but are Stakeholders Aligned Correctly
by Vikas Kirtani, Hemant Sharma
Abstract: This paper attempts to get a perspective on key stakeholders thinking on processes and identify possible misalignment, which can have implications on project success. The study has identified that all stakeholders want closing processes to be structured and mandated. A gap in predisposition towards initiating processes between the contractor and other stakeholders is identified. Similarly, project managers lower priority for monitoring processes can conflict with clients expectations. Stakeholder contractor has to review their initiating processes and project manager has to understand clients expectation on monitoring processes. Bridging these gaps can set a better relationship between stakeholders
Keywords: project management processes; stakeholders; managing projects; project success.
Assessing the impact of Kriya Yoga Path as a Meditation technique taught at Yogoda Satsanga Society on Psychological wellbeing of Meditators and Non-Meditators.
by Dr.Vijit Chaturvedi, Sanjeev Bansal, Luckwinder Dhillon
Abstract: The biggest challenge being faced at present time is well - being and a balanced life (Nielsen and Daniels, 2016). The study aimed at understanding different meditative techniques taught under kriya yoga for higher consciousness. The study also explored the relationship and impact of dimensions of spiritual intelligence with psychological wellbeing to understand the impact of spiritual intelligence on psychological wellbeing. The study revealed both for spiritual intelligence and psychological wellbeing meditators scored higher compared to non-meditators category. All the dimensions of spiritual intelligence and psychological wellbeing were strongly correlated with each other. Meditators scored highest in optimism, non-meditators modesty was highest in psychological wellbeing, meditators scored highest in purpose in life, non-meditator scored highest in positive relation in life. The findings of study have direct implications for practitioners, managerial implications for leadership effectiveness as well. The dimensions of both constructs discussed can be developed to maintain psychological wellness.
Keywords: kriya yoga path; psychological wellbeing; PWB; meditation.
Segmenting the Consumers of Cause Related Marketing On Psychographic Attributes In Emerging Economy- The Case of India
by Deepak Chawla, Shruti Gupta
Abstract: This research identifies the distinct segments of consumers interested in CRM based on their psychographic attributes and demonstrates how each segment differs significantly on the basis of demographics and regarding the choices pertaining to the structural elements of the campaign. The outcome of literature review and qualitative research on motivation, attitude and purchase intention was used to design the questionnaire. The survey was conducted on 325 respondents. Factor Analysis resulted in 10 factors of Psychographic variables which gave three segments viz. Balancers, Humanitarians, and Narcissists after being subjected to hierarchical and K means clustering. Difference between attitude and intention for CRM activities among three segments was carried out using one way analysis of variance (ANOVA) and the Post Hoc analysis. The study provides valuable managerial insights and its implications for the practitioners. This is the first study of its type in India which segments and profiles the consumers of CRM.
Keywords: cause related marketing; CRM; purchase intention; K-means clustering; segmentation; India.
Farmer Producer Organisation: an emerging business model for empowering small and marginal farmers in India- A case study
by Vijayakumar. A. N.
Abstract: Small and marginal farmers of India with fragmented land holdings facing challenges to realise remunerative prices with limited collective bargaining power. This study considering an outperforming farmer collective during economic slowdown explored its business model, impactful services and factors of empowerment with primary and secondary sources of data. The commodity focus with professional management and governance as well as backward and forward linkages for output business of FPO under this study evidenced robustness in financial performance. The study with descriptive statistics and t-test validated FPO model is an ideal agri-business strategic approach for rural employment, enhancing farm income, purchasing power, etc. including standard of living of small and marginal agri-farmers of rural areas.
Keywords: business model; empowerment; farmer producer organisation; market integration; remunerative price; small and marginal farmers.
Employees Preferences Regarding Work-Fun Activities: A Study of NCR Employees
by Neha Gupta, Karamvir Sheokand
Abstract: Work fun is a phenomenon which has not been studied much till now and a lot of research work is being dedicated to this aspect these days. The managers over the world are discovering new ways of adding fun in their work environment as it benefits both the employees and the organisation. According to several studies, a fun working environment adds to the employee as well as organisational productivity while reducing stress and turnover intentions among employees. There are a lot of different activities that can be used by an organisation to add fun to work, but all activities are not considered equal by different strata of the employees in doing so. This paper studies exactly what activities are considered as fun activities by these different sets of employees working in the IT Sector in NCR, depending on their demographic profiles, like, gender, age group, family status, nature of job, duration of job, etc. It also studies the respective variations in preferences regarding these activities among employees.
Keywords: work fun; work fun activities; stress relieving activities; employee retention.
Analysis and Definition of Factors influencing Work Life Balance of women professionals in Information Technology enterprises in India
by Chhavi Gupta, K. V.S. Rajeswara Rao, Viswanathan Ravishankar
Abstract: The IT industry has seen a phenomenal growth in India. It has been an enabler for educated women by providing them unprecedented career opportunities, financial security, status and immense prospects. However career advancement of women in IT enterprises is ridden with multi-dimensional challenges emerging at the organisation workplace, family and the social sphere that affect the Work-life balance. The objective of this paper is to analyse and define the predominant factors affecting work-life balance of women professionals working in the IT industry. Data analysis and reduction was achieved through Factor analysis (using SPSS). Further Regression analysis was used to find the significance and weightage of the factors. The study engaged 375 IT professional women in Bangalore, the largest IT city in India. The work-life balance factors of Single women, Married women and Married women with children were found to differ significantly. The insights are discussed herewith.
Keywords: work-life balance; WLB; professional-women; factor analysis; women in IT industry; regression analysis; India.
A Study of Investment Opportunities and Investors Sentiments during COVID-19 Pandemic
by Karishma Jain
Abstract: The spread of Covid-19 is a black swan event. It has created and is still creating a catastrophic damage to the global economy. The novel coronavirus which was first reported in Wuhan, China in December 2019 has infected millions of people, killed thousands, and created high volatility in stock market. The aim of this study is to explore the impact of COVID-19 on the stock market over a period of March 24 to April 24, 2020, and to identify the investment opportunities during the pandemic era. The results indicated that there were sectors that gained during the pandemic such as healthcare, FMCG, telecom, etc. From an investment perspective, long-term investment in companies with high market capitalisation could be a good alternative as they may withstand in crisis and bounce back quickly. This research also analysed the investors opinion towards stock market through sentiment analysis using QSR NVivo. The results indicated that despite of fear and negativity due to lockdown and shut down of all economic and commercial activities the positive sentiments stood out. This shows that people are hopeful, and this may have positive impact on the stock market.
Keywords: COVID-19; pandemic; stock market; investment; twitter; sentiment analysis; NVivo.
Impact of RERA on Home Loan Borrowers in India
by D. SANTHOSH KUMAR, Ramesh Kumar Miryala
Abstract: Real Estate Regulatory Authority Act is a landmark event in the real estate sector in India. The Act aims to provide a confidence to the buyer of a real estate property. The aim of this article is how the RERA benefits home buyer in general and home loan borrower in specific. RERA also helps the other stake holders in the real estate market like banks, housing finance companies, etc. Various functions and the salient features of the RERA has been explained. Though the RERA is at initial stage but definitely it will be impacting and regulating the real estate market over a period of time. Real estate sectors play an important role in delivering the one of the basic need of the human beings. The sector has grown significantly in recent past. Before implementation of Real Estate Regulatory Act (RERA), the sector was largely unregulated and professionalism was lacking. RERA mainly aims at protecting the interest of home buyers and enhance transparency in the real estate sector.
Keywords: : real estate regulatory authority; home loans; builders; home loan borrowers; banks; India.
Innovations in digital technology and creative destruction in the music industry
by Bindu Balagopal, Chacko Jose Pulluparambi
Abstract: The rapid growth of digital technologies has transformed the music industry world over from physical to digital. Creative destruction is a term introduced by Schumpeter to describe the dismantling of long-standing practices to make way for innovation. The present paper adopts the term creative destruction regarding the music industry to examine how innovations in the music industry from analogue to digital have increased productivity. The paper tries to examine whether the creative destruction of analogue technologies has paved the way for new digital formats of music. The paper with the aid of primary and secondary data explores the structural transformation in the music industry from physical to digital formats due to technological innovations in the context of the Indian music industry, which was one of the largest producers of music cassettes in the eighties.
Keywords: COVID-19; corporate social responsibility; CSR; personal protective equipment; PPE; pandemic; lockdown; social; psychological; economic.
Share Repurchase: A Review of the Literature
by Vedika Saxena, Seshadev Sahoo
Abstract: This study aims to synthesise and analyse the existing literature on share repurchases. It summarises the key findings and identifies the potential research gaps in the extant literature. A pool of 206 research articles are chosen based on relevance and impact from a variety of reputed databases spanning over 1981 to 2020. The authors use the guideline of Templier and Pare (2015) and follow the narrative approach of literature review which consists of gathering and synthesising existing literature on share buyback. The diverse strands of literature on buyback are classified based on different research themes. The results indicate a paucity of research on share buyback in emerging markets (e.g., India and China). Overall, the research in the following areas is found to be sparse: buyback and firms reputation and the wealth effect of buyback on bondholders. The impact of executive reward schemes post buyback and presence of industry effect remains largely untapped.
Keywords: share buyback; liquidity; tender offer; open market; signalling.
A model for successful implementation of advanced manufacturing technologies in small and medium sized Indian enterprises
by Arishu Kaushik, Doordarshi Singh
Abstract: In this study, the results of empirical study carried out in manufacturing small and medium enterprises of Northern India, a synthesis of results and its inferences, two case studies of manufacturing enterprises in the same region, knowledge acquired from numerous stages of research and a qualitative model to present the learning issues to develop a practical and effective management process for the successful implementation of advanced manufacturing technologies has been discussed. Utmost care has been taken to avoid repeatability and overlapping while developing the list of independent learning issues. Four techniques namely, analytical hierarchy process (AHP), fuzzy set theory (FST), options field methodology (OFM) and options profile methodology (OPM) have been used for qualitative modelling. After this, an implementation plan for improving various output parameters by the implementation of advanced manufacturing technologies has been generated while considering the approaches of optimism, pessimism and realism.
Keywords: advanced manufacturing technology; options profile methodology; small and medium enterprises; fuzzy set theory; analytic hierarchy process; options field methodology.
An Endeavor to Amendment: Socio-Economic Impact of a Project Implemented by CSR, Vedanta
by Bandana Meher, Shreyasi Bhattacharya
Abstract: The present 15 days evaluation study exclusively addresses the impact of the project
Keywords: CSR; corporate; sustainable; stakeholders; agriculture; farmers club; project; beneficiary.
Who am I? Determinants of Young Consumer Need for Uniqueness in India
by Gaurav Gupta, Vineet Gupta
Abstract: Consumer need for uniqueness (CNFU) is a popular construct among western societies. The construct has been tested under different conditions and has been found useful. In this paper, our main aim is to understand the different personality traits of young consumers and how they affect their buying behaviour. In order to measure the proposed hypothesised model, structural equation modelling was applied in the primary dataset consisting of young participants (1319 years) from Delhi (National Capital Region). Specifically, creative choice counter-conformity, unpopular choice counter-conformity and avoidance of similarity were used as the dependent variables in the study. It was found that market maven was significant and positively associated with all three forms of CNFU. Peer group influence was also found to have a positive impact on avoidance of similarity and unpopular choice. Role model was not found to be associated with ones peer group influence. However creative choice and unpopular choice counter-conformity was found to be positively associated with ones role model. The study has implications on multinational corporations (especially from cosmetics, fashion, health and luxury industry) targeting young consumers. Limitations and directions for future research have also been discussed.
Keywords: consumer need for uniqueness; CNFU; market maven; role model; peer group; structural equation modelling; SEM; India.
An Assessment of Video Viewership Preference of Indian Viewers
by Rashmi Jain
Abstract: For more than 200 million households in India, video consumption on television sets has been the focal point of entertainment. Traditional or linear TV viewership entailed viewers to make themselves available in front of the TV set to consume video content that is broadcasted, as per a predefined schedule. Advancement in technology, penetration of personal devices like smartphones and availability of high-speed internet coupled with new sources of content creation and distribution platforms has led to the emergence of video OTT a new way of video consumption. This study assesses the video consumption behaviour in India which not only has a large number of linear TV connections but also the second-largest number of internet and mobile phone users in the world. The findings of the study will enhance understanding of current and future video consumption, which is critical to brands for their marketing communications.
Keywords: media consumption; video over-the-top; video OTT; consumer behaviour; viewership; television; streaming videos.
Determinants of Capital Structure: Panel Data Analysis of Indian Firms
by Shikha Bhatia, Aman Srivastava
Abstract: The purpose of this research is to identify determinants of capital structure in non-financial firms of a developing economy. Using 2,327 firm observations, we examine the determinants of debt-equity choice. The analysis was carried out through ordinary least squares, static panel data, and dynamic panel data (GMM methods) econometric models. The findings reveal that greater profitability, size, business risk, and liquidity causes Indian firms to take less debt whereas the presence of growth opportunities makes them accumulate more debt. The findings of the study are useful for managers in planning their financing decisions. The study points out that capital structure decisions are dynamic, and determinants of short-term debt greatly vary from those of long-term debt. The results offer support to the pecking order theory of capital structure.
Keywords: debt-equity; capital structure theories; pecking order theory; panel data analysis; trade-off theory; generalised method of moment; GMM; dynamic panel.
Ethical Theories in Business: Thirukkural Perspective
by Jayendira Sankar
Abstract: The study presents the dimensions of ethical theories in business from the perspective of Thirukkural. Ethical theories in business can recognise as a means for managing the various business activities which incorporate utilitarianism, deontology, rights, and virtue. The concept of ethical theories in business is in practice for decades by organisations worldwide. Thiruvalluvar is one of the great genii of the world; Thirukkural is one of the purest and highest manifestations of human thoughts. The article is based on a scale called hermeneutics, research, and theory to understand which revelations about the interpretation of texts. This article reveals that Thirukkural recommends a cognisance and ethical-based approach to business organisations. This article attempt to highlight the Thirukkural perspective of ethical theories in business and other areas like time management, human resource management, and leadership that can consider for future research.
Keywords: ethics; business ethics; ethical theories; utilitarianism; deontology; rights; virtue Thirukkural; Thiruvalluvar.
Factors Impacting Success of Cross-Sector Social Partnerships for Corporate Social Responsibility: An Indian Perspective
by Neha Saxena, Sushil Kumar
Abstract: The Companies Act of 2013 of the Government of India mandating eligible businesses to spend 2% of their profits towards CSR has resulted in substantive increase in funds being spent in the social sector and proliferation of cross-sector social partnerships (CSSPs) between NGOs and businesses. In this context, the current study tries to identify factors that influence the success of the CSSPs to implement CSR projects. We empirically test a framework based on trust-commitment model from relationship marketing for cross-sector partnerships in India. The results show that the trust-commitment theory is indeed applicable to the CSSPs and the relational factors directly and indirectly influence their success. The recommendations from the study will aid businesses and NGOs in India in better management of their CSR partnerships. The study also adds quantitative evidence to research in the field of cross-sector partnerships in the social sector, until recently dominated by qualitative studies.
Keywords: cross-sector social partnerships; CSSPs; NGOs; corporate social responsibility; CSR; relational factors; business-NGO partnerships; cross-sector collaborations; India.
Factors Influencing Industrial Relations in the Indian Tea Industry: Study in the Darjeeling, Terai, and Dooars Region
by Nirmal Chandra Roy
Abstract: Since the end of the last century, the Indian tea industry has been going through a major crisis. Poor industrial relations are one of the major causes of this crisis. Keeping this backdrop in mind, the study aims to explore the factors for poor industrial relations and examine the impact of various factors on industrial relations. In the study, opinions from 306 workers have been considered. Factor analysis and multiple regression analyses have been done. The result of factor analysis bought out five prominent factors of industrial relations. These are the management aspect, employment issue, welfare aspect, parental care aspect and maintenance aspect. Further, multiple regression analysis has been performed to assess the impact of the identified factors on industrial relations. The result shows that the management aspect has the highest positive impact on industrial relations. However, parental care aspect and maintenance aspect have a negative impact on industrial relations.
Keywords: tea industry; Dooars; Terai; Darjeeling; industrial relations; factors affecting industrial relation.
GAP ANALYSIS BETWEEN CUSTOMERS EXPECTATIONS AND SATISFACTION OF REAL ESTATE SECTOR USING THE SERVQUAL MODEL
by Narendra Singh, Mukul Gupta, Pushpa Singh
Abstract: The research is focused on understanding the level of service quality gap which exists between customers expectation level and satisfaction level for real estate services in Delhi NCR region. The gaps in service quality are identified and analysed with the help of the SERVQUAL model which examines the five dimensions of service quality namely tangibles, reliability, responsiveness, assurance, and empathy. The sample for the study comprises those respondents who bought a house or flat in the last two-year or planning to buy in the upcoming years. Data is collected using a questionnaire with 36 questions and each the dimension of service quality is measured on a seven-point Likert scale. The gap in service quality between expectation level and satisfaction level is calculated by subtracting the expectation score from satisfaction score. The paper also identifies suggestions and measures to minimise these gaps and ways to bring beneficial changes in the perception of customer service experience towards real estate sector of Delhi NCRs.
Keywords: SERVQUAL; customer expectation; customer satisfaction; gap analysis; SPSS V23; real estate sector of Delhi-NCR.
Narrative Techniques in Ancient Indian Wisdom for teaching/learning Contemporary Management
by G.P.Sudhakar Acharya
Abstract: Management wisdom can be gleaned from ancient Indian wisdom from a large number of ancient texts. This article identifies major narrative techniques used in ancient literature that have in them wisdom that can be used for teaching management. The aim was to list and provide examples of the often used narrative techniques so that search in the vast ocean of ancient literature is optimal. Stories/katha, proverbs/lokokti, nyaya/maxims, discussions (samvaada), upadesha, and creating contemporary models using ancient frameworks were identified as popular narrative techniques. Each of this in the context of management has been explained with appropriate examples.
Keywords: ancient Indian wisdom; narrative; upadesha; lokakti; samvaada; story/katha; discussion; dialogue; proverbs; models.
Factors governing domination and motivation behind donation-based crowdfunding in India
by Vijaya ., Himendu P. Mathur
Abstract: Crowdfunding is an open call for financial resources from a group of people to fund a particular initiative with commercial and non-commercial motives. Crowdfunding in India is dominantly donation-based. The main objective of the study is to explore the reasons behind the dominance of donation-based crowdfunding in India and to explore the factors that motivate fund providers to participate in donation-based crowdfunding. The findings of the study reveal that the sense of pride and satisfaction, funders tendency to follow herd and trend, emotions and religious beliefs, fund providers choice of data privacy, lack of financial burden, and minuscule return promised in other forms of crowdfunding are factors responsible for the dominance of donation-based model of crowdfunding in India. The study also concludes that interest and association with the cause, project novelty and characteristics, shared thoughts and beliefs, prosocial motives, and personal networks motivate fund providers towards backing donation-based crowdfunding projects.
Keywords: crowdfunding; donation-based crowdfunding; fund provider; crowdfunding platforms; fund raisers; crowdfunding motivation; dominance; India; campaigns; projects.
The Contemporary Film Public Relations Ecosystem in India- From Stars to Stories
by Aishwarya Ramesh, Ruchi Jaggi
Abstract: Indian cinema is now at its most experimental phase as we get to see unconventional stories more frequently than ever. While it reflects great creative progression in terms of filmmaking, at a deeper level, these stories are challenging the larger moral fabric that has existed conventionally. Of the many reasons that have contributed to this change, public relations (PR) is a major component. How do PR professionals build stories, create strategies that resonate with people despite having a starkly different tonality?
Keywords: storytelling; social media communication; popularisation of beliefs; star value; fandom; creative strategies; commercial returns; OTT; celebrity PR.
A STUDY OF INDIAN SOCIAL ENTREPRENEURS THROUGH J. CAMPBELLS MONOMYTH LENS
by Bhabani Shankar Padhy, R. KUMAR BHASKAR
Abstract: The concept of social entrepreneurship has gained noticeable prominence in academia over the past two decades. Considering the emergent imperative to construct and analyse narratives of social entrepreneurial experiences through novel qualitative methods, this study attempts to integrate Joseph Campbells monomyth as a narrative device to explore the lived experiences of selected social entrepreneurs in India. The authors examine the journey of forty social entrepreneurs, the diverse challenges they have faced and the events and decisions that shaped their journey. The study also maps the structural emergence of a successful social entrepreneur as the hero, who strives to address specific social needs through a sustainable market-based approach.
Keywords: social entrepreneurship; social enterprise; monomyth.
Analysis of the Actual CSR Expenditure: A Quantitative Study on NIFTY 100 Companies
by Ritika Gupta, Pankaj Kumar
Abstract: Indian corporate sector has consistently gained the mantle of being responsible towards society. However, recent years have witnessed an increase in the legislative interventions to create awareness among business organisations of their moral obligations towards society. Therefore, the present study is a comparative analysis of corporate social responsibility (CSR) expenditure by NIFTY 100 companies between the voluntary spending period and period after the implementation of Section-135 of the Companies Act, 2013. The expenditure on social and community activities, donations and environment and pollution control related activities have been aggregated to arrive at the CSR expenditure of companies from the financial year 2009
Keywords: India; corporate social responsibility; CSR; expenditure; Section-135; Companies Act; 2013; voluntary spending period; mandatory spending period; NIFTY 100.
An Analytical Study on the Potential Investors Perceptions towards Reverse Mortgage Loan in Navi Mumbai Region of Maharashtra State
by Amee Nagar, Nadiminty Mahesh, Krishna Kant Dave
Abstract: The reverse mortgage loan scheme is a wondrous income option for
Keywords: senior citizens; reverse mortgage; cash poor and home rich; reverse mortgage perception; elderly population; retirement plan; old age financial stability; financial literacy; Indian housing sector.
Cultural appeals in Indian TV commercials
by Amarendra Kumar Dash
Abstract: TV advertisers propel the advertisements with various psychological triggers called appeals to persuade the audiences and consumers. When such consumption appeals are put in sync with the cultural values of the consumers, they are called cultural appeals. The appeals are embedded in the discursive structure of the commercials. This study undertakes a content analysis of the values, visuals, and auditory corpus of 538 Indian TV commercials to find out the variations in the use of global, local, and glocal cultural appeals in them. It is found that glocal cultural appeals are used more frequently followed by global cultural appeals whereas the use of local cultural appeals is very negligible. Across commercials from foreign, Indian, and joint-venture companies, the most prominent feature in the sample commercials is Glocal 1, i.e., Glocalisation with dominant global cultural elements. The study reveals the global face of the global-local fusion in India by deciphering the asymmetrical cultural blend that characterises contemporary Indian TVCs.
Keywords: glocalisation; cultural appeals; Indian TV commercials; brand origin; product categories; asymmetrical blend.
Understanding OCTAPACE Culture through insights from Ancient Indian Texts
by Pooja Singh
Abstract: Culture is that intangible force that influences organisational life and its practices. Also, it provides strength to gain a competitive advantage by enhancing employees performance and job satisfaction (Rao, 2015; Kumar, 2018). The present study attempts to take insights from ancient or classical Indian texts such as Vedas, Ramayana, Bhagavad Gita, Manu Smriti, etc. to present a novel approach towards explaining each aspect of OCTAPACE culture. A literature review in this field shows that several studies have been done in management and human resource development from various perspectives. However, very few have been done to establish linkage between classical Indian texts and organisational culture, especially OCTAPACE. As a result, this paper not only fills the gap in the literature of organisational culture but also provides some significant and insights on OCTAPACE from ancient Indian philosophical perspectives. Moreover, such an attempt can help understand how ancient Indian values, which have stood the test of time, can help create a more sustainable organisational culture in the present dynamic world. OCTAPACE culture is relevant and critical for business performance and success because it brings higher efficiency and effectiveness.
Keywords: ancient Indian texts; OCTAPACE; values; culture; efficiency.
Impact of Macroeconomic Factors on Banking Stock Index: Empirical Evidences from Indian Banking Sector
by SUMIT KUMAR MAJI, Arindam Laha
Abstract: In the present study, an attempt was made to explore the effect of the macroeconomic variables on the banking stock prices in Indian context. To proxy the trend of the banking stock in India, banking sector specific stock index in Bombay Stock Exchange (BSE), i.e., BSE_Bankex was used. The outcome study suggested the existence of long-run association between the select macroeconomic variables and the BSE_Bankex which was arrived at by making short-run error correction at the speed of 16.12% per month. Foreign portfolio investment ratio and price factor were found to be exerting positive and significant effect on BSE_Bankex whereas the impact of economic policy uncertainty was found to be negative.
Keywords: BSE_Bankex; foreign portfolio investment ratio; price factor; economic policy uncertainty; ARDL-UECM.
Stakeholder Identification for CSR in Secondary Education in India: A Mixed Method Approach
by Pranav Umesh, N. Sivakumar
Abstract: The secondary education system in India is beset with numerous challenges. Corporate social responsibility can play a vital role in addressing these challenges by adopting a structured approach towards their resolution. This study recognises the efficacy of stakeholder theory in addressing organisational challenges and extends its application to the Indian education system by identifying the stakeholders of secondary education. This study adopts a mixed method approach to stakeholder identification by undertaking traditional content analysis, topic modelling, discussions with experts, and principal component analysis. The study triangulates on six primary and four secondary stakeholders of secondary education system. The study concludes with a discussion on managerial implications, limitations, and future scope of research.
Keywords: stakeholder identification; secondary education; India; corporate social responsibility; CSR; content analysis; topic modelling; triangulation.
Navigating Leadership Challenges in Modern Organizations through Ancient Indian Values
by Kirti Rajhans, Rushikesh Pawar, Payal Bibve
Abstract: In view of the complexity of environment today, there is a need to reassess the leadership skills desired from modern managers as relying on usual leadership development theories may not be enough. Exploring leadership principles from the age old, time-tested Indian values might prove to be an important solution. The present study attempts to identify a newer leadership development way through ancient Indian values of Bhagvad Gita for addressing leadership challenges in front of todays managers. It adds to the earlier works in this area by identifying and describing the most significant leadership skills based on principles of Bhagvad Gita for developing leadership competence of modern managers through hermeneutics methodology and an empirical testing support. The main contribution of the study is the proposed leadership skills development framework which will add value to the current leadership development initiatives of the organisations and help developing leadership competencies in a sustainable way.
Keywords: leadership skill development; modern managers; business management; Bhagvad Gita; Indian values.
Social Media Impacting Green Behaviors of Indian Consumers
by Meesha Gupta, Asif Syed
Abstract: This paper identifies and empirically analyses the relationship between various social media motivational factors influencing attitude of Indian consumers towards eco-friendly products and their willingness to pay a premium price for them. Data was collected from 536 respondents who not only uses various social media channels for purchases and gaining information but also prefers eco-friendly products across India. EFA and SEM techniques were used. The findings confer consumers concern for the environment is being shaped by six main social media motivational factors namely word of mouth, interaction, entertainment, trendiness, dependency and trust. The concern of the consumers impacts their attitude and the positive attitude so formed has a significant and positive impact on willingness of consumers. This research takes a lead in analysing the construct willingness to pay a premium for green products because this has been comparably less explored in Indian context.
Keywords: social networking; eco-friendly products; willingness; attitude; India.
Occupational Health and Safety Awareness in Micro and Small Enterprises in select sectors of West Burdwan, West Bengal: An Empirical Assessment
by Manidipa DasGupta, Sourav Sarkar
Abstract: Micro and small enterprises (MSEs) generate employment opportunities and thus promote livelihood standard for grass root level having no/nominal techno-economic strength. But due to participants lack of skill to handle complex machinery jobs and no/nominal awareness of health-hygiene issues in workplace, occupational hazards often occurred there which is product and sector-specific. Literature supports that the perceptions of participants in maintaining OH&S awareness in MSEs depend on individuals demographic features. In this paper, attempt has been made to highlight on the variation in perception on OH&S factors due to demographic features of the participants. To serve this issue, a micro empirical assessment is pursued on select sectors of West Burdwan and first-aid facility, drinking water, jobsite inspections, etc. seemed to have maximum relevancy in maintaining OH&S awareness there. MSEs, therefore, should adopt provision to promote OH&S awareness considering the requirements of the sector and different socio-demographics of the participants.
Keywords: occupational health and safety; OH&S; awareness; micro and small enterprises; MSEs.
Analysing the Impact of Green Marketing Mix on Consumer Purchase Intention
by Dr. Ravinder Kaur, Suyash Mishra, Shivani Yadav, Tanya Shaw
Abstract: In pursuance of the environmental protection, marketers have started to focus on green consumerism in their marketing strategies and come up with various new methods related to adoption of green products in developed countries, but this concept is still evolving in India. This study develops a conceptual framework to explore influence of the elements of green marketing mix on consumers purchase intention towards green products in India. The study adopted questionnaire method to account the observed outcome of customer survey and tested the hypotheses of model using multiple regression analysis. Analysis revealed that green marketing mix elements are crucial to predict consumers purchase intention. Green product is observed as most important element followed by place, price, and promotion. Additionally, findings provide implications for policy makers and practitioners to stimulate the focus on green marketing mix while developing strategies.
Keywords: green marketing mix; consumer purchase intention; consumer behaviour; customer buying behaviour; green product; green promotion; green marketing strategy; ecological awareness; India. ecological awareness; India.
TONE LEARNING STYLES AND TENOR LEARNING ORIENTATION Effect of Learning Styles on Learning Orientation for Tomorrows Informated Workplace
by Padmalalitha Thennal VenkatesaNarayanan, Rajeswari Thirunavukkarasu
Abstract: To build a progressive learning culture, managers in work situations capitalise on different learning styles of employees and accelerate their orientation in the learning process. This research study has empirically tested the effect of learning styles of employees on their learning orientation. Quantitative data regarding learning styles and learning orientation were collected from 270 respondents of 12 manufacturing companies in India. Path analysis was performed through structural equation modelling and the direct and indirect effects of the learning styles were determined by decomposing the structural equations. The study demonstrated that reactive, experimental, deliberative, and inspiring learning styles affect explorative learning orientation and reactive, experimental, harmonic, and inspiring learning styles affect exploitative learning orientation with varying levels of significant impact.
Keywords: learning style; learning orientation; exploitative learning; explorative learning; structural equation model; path analysis.
Understanding gender differences in the attitude towards financial risk taking
by Shalini Kalra Sahi
Abstract: Biological gender has been considered as one of the critical determinants of financial risk-taking behaviour, however very few studies have looked at financial risk-taking as perceived through the lens of gender psychology. This empirical paper attempts to contribute to the literature by not only considering both the biological and psychological aspects of gender (masculinity and femininity), but also by using a multidimensional view of financial risk-taking attitude. One of the significant findings of this study was that androgyny individuals were found to be more risk managing than any other psychological gender category. Some other findings were in concurrence with the existing literature. This insightful study adds to the scant literature that exists on psychological gender and financial risk taking and would pave the way for more work in this area.
Keywords: biological gender; gender psychology; individual investment behaviour; financial risk-taking.
Developing a Model of Incentive-Based Compensation Using a Meta-synthesis Approach
by Sajjad Balali Shahvari, Masoumeh Resallati, Nour Mohammad Yaghoubi
Abstract: This study aims to develop a model for incentive-based compensation using meta-synthesis. Specifically, we reviewed more than 1,749 papers from relevant journals and conference proceedings. Dimensions and relevant codes were extracted using content analysis, and the importance and priority of the codes were determined using Shannons entropy. According to our findings, the components identified in this model were categorised into two dimensions: financial (based on membership and performance) and non-financial (social, organisational and occupational). Moreover, the findings indicate that payment during retirement and disability, continuous cash and non-cash incentives, job advancement opportunities, medical insurance (unemployment and supplementary), favourable working conditions, growth and learning, ideal colleagues, the establishment of social relations in the workplace and, skill-based and performance-based payments are significant. In other words, they have been studied more closely and more repeatedly than the other codes in compensation systems.
Keywords: incentive-based compensation; financial compensation; non-financial compensation; meta-synthesis.
Assembly Line Productivity Improvement through TPM by controlling Line Organization Efficiency and Out of Balance Index: An empirical exploration
by PARDEEP GUPTA, ANKESH MITTAL, Aman Hooda, Niharika Gupta
Abstract: The present study aims to examine the role of implementing TPM in improving the assembly line productivity of an automobile manufacturing industry. The organisation started implementing TPM to improve plant productivity by maintaining equipment, workplace layout improvement, increasing employee morale. The case study data for this study has been collected after having discussions with TPM team members and reading the TPM reports and result sheets available with the industry. The TPM team recognised a significant scope of an improvement in fuel tanks productivity. The efforts were made to reduce the line stoppages, perform line balancing and carry out operations standardisation. As a result of these initiatives, the fuel tank assembly lines productivity enhanced from 140 to 158 units per shift within 14 months. This study is an innovative case study that demonstrates the effectiveness of TPM initiatives in enhancing the productivity of an assembly line in the Indian automobile industry.
Keywords: total productive maintenance; TPM; productivity; motivation; line organisation efficiency; LOE; out of balance index; OBI; organisational performance.
Knowledge of Environmental Sustainability in Future Leaders: A study of adolescent school children in Delhi National Capital Region, India
by Gurpreet Mehdiratta, Sushil Kumar
Abstract: Children are the future custodians of natural resources. As adults, they will formulate and implement various social and business policies that will impact the planet. Hence, it is important that they are well-informed about environmental issues. The present study attempts to assess the level of environmental knowledge of Grade 9 (14 to 15 years old) school students in Delhi National Capital Region (NCR). The results indicate that, overall, adolescents have an average score in environmental knowledge. Children in private-run schools score higher than children in government-run schools. Gender does not have a significant relationship with environmental knowledge of the children. Fathers education level has a significant relationship with childrens environmental knowledge but the same does not hold good for the mothers education level. The overall participation of adolescents in environmental activities is low. Newspapers and school teachers are the top sources of environmental information for the school children followed closely by TV and internet. These findings have significance for environmental educators, school administration and environmental education policy implementers.
Keywords: sustainability; adolescents; environmental education in schools; environmental knowledge; Delhi NCR; India.
Awareness on Mental Illness among Adults of Tharu Community in Nepal: Evidence from a Cross Sectional Study
by Ranjana Koirala, Tilarupa Bhattarai
Abstract: This paper aims to assess awareness on mental illness among adults of Tharu, one of the largest indigenous groups of Nepal. The dummy-based awareness index is used to measure the awareness level on mental illness and adopted ordered logit regression model to check the determinant factors for awareness on mental illness among adults of Tharu. We find that 35.5% HHs have adequate, 34% HHs have moderate and 30.5% HHs have low level of awareness on mental illness. Results from ordered logit revealed that the overall odds of literacy were about five times and presence of health personnel is three times which signify better awareness among Tharu adults that is possible with the increase in literacy and health personnel in the ward level. In the Tharu community literacy and presence of health personnel statistically affect and help to increase awareness level than any other statistically significant variables.
Keywords: indigenous community; mental illness; Tharu adult; awareness index; ordered logit model; Nepal.