International Journal of Indian Culture and Business Management (30 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.
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.
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.
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.
Indian Cool: Concept and Contrast with Western Cool
by Harsh V. Verma, Ekta Duggal
Abstract: Cool is a phenomenon of youth culture. While many studies have explored cool in the Western context, there is paucity of Indian studies in this area. This investigation sought to explore the meaning and constituents of cool among young consumers and compare it with western notions of cool. The data were collected on an open ended instrument and analysed through interpretive method. Both similarities and differences were found between Indian and western cool. Interestingly, the Indian cool is not about counter-culture, unbridled hedonism and consumption unlike western cool. The study contributes to the literature by filling the gap existing in this area. The findings of this study inform the marketers of the risks of using western concept of cool in brand building within an Indian context.
Keywords: Indian cool; western cool; counter culture; brand meaning; un-cool; calm.
Identification of sources of job stress: A study among officers and supervisors
by Amanpreet Kaur Sidhu, Harwinder Singh, Sandeep Singh Virdi, Raman Kumar
Abstract: The purpose of present paper is to identify the major sources of job stress among PSPCL and PSTCLs employees. A sample of 249 PSPCL and PSTCLs employees was used in the study. Ten factors determined the model: working environment, performance assistance, personal growth, future perspective, control scale, job requirement, workload, responsibility, moment demand and satisfaction. Total 34 variables were used for confirmatory factor analysis (CFA), to carry out many aspects of job stress. It was found that moment demand is the major contributing factor to job stress. Training needs, working conditions and less salary are the key variables to generate job stress. These variables can assist in maintaining job stress in PSPCL and PSTCL. The objective of this research paper is to examine, the sources of stress among officers and supervisors, under Punjab State Power Corporation Limited (PSPCL) and Punjab State Transmission Corporation Limited (PSTCL).
Keywords: Job Stress; PSPCL ; PSTCL ; EFA; CFA.
PROFILING GREEN CONSUMERS THROUGH CULTURE, BELIEFS AND DEMOGRAPHICS: AN INDIAN STUDY
by Naman Sreen, Pradip Sadarangani, Bidyut Gogoi
Abstract: Consumers today not only view companies as profit centres, but also as institutions that should be sensitive to social problems such as environmental degradation. As a result, organisations have started considering the environmental needs of consumers by focusing on sustainability as a business goal. Green products may help companies to improve their bottom line and brand image. This paper forms green consumer segments on the basis of cultural values, psychographics, and demographics. Demographics include income, gender and education. Cultural values include collectivism and long-term orientation (LTO) from Hofstede and man-nature orientation (MNO) from a value orientation model by Kluckhohn and Strodtbeck (1961). Psychographics are derived from theory of planned behaviour (TPB). The results indicate that there are four distinct segments. Two of these segments female green activists and green outlook male activists are identified as the groups that are more willing to buy green products. Finally, implications from the results are derived for practitioners and policy-makers to develop targeting strategies for these segments.
Keywords: Segmentation; Long-Term Orientation (LTO); Collectivism; Man-Nature Orientation (MNO); Theory of Planned Behavior (TPB); Demographics.
Mobile marketing adoption intention by startup companies in India: A Technological-Organizational-Environmental (TOE) Framework Based Approach
by Sarika Sharma, D.P. Goyal
Abstract: Startup India is an initiative taken by Indian Government to promote the innovative ideas by young companies. These companies may get enough funding and support at the initial phase of their life cycle, but later on, they have to rely on their customer base. To acquire customers and to penetrate the market, mobile marketing can be the suitable method. The study is based on the startup companies who have not yet adopted the mobile marketing and attempts to understand the factors affecting their mobile marketing adoption intention. The widely used technological-organisational-environmental (TOE) framework is used to design the conceptual model. The model was tested by conducting path analysis using structural equation modelling (SEM). The outcome of paper provides meaningful implications for the stakeholders who are involved with startup companies. It will also help them to have better insights regarding the adoption of mobile marketing.
Keywords: Mobile Marketing; Startup Companies; TOE Framework; Adoption Intention.
Model for implementing lean manufacturing in small and medium sized engineering organisations
by Sandip Shah, R. Murugesh, S.R. Devadasan
Abstract: In this paper, the theory of a model for implementing lean manufacturing (LM) in small and medium engineering organisations (SMEOs) has been presented. This model was given the name LEMSEO (stands for lean manufacturing in small-sized engineering organisations). LEMSEO has been designed to successfully implement LM in SMEOs in three phases. In the first phase, the awareness about implementing LM in the SMEO is created. In the second phase, the confidence over successfully implementing LM in the SMEO is developed. In the third phase, fully fledged LM projects in a sustained manner are implemented. These three phases of LEMSEO model have to be implemented by following 20 steps. After describing the conceptual features of LEMSEO model, the activities to be carried out for implementing these 20 steps are narrated. While concluding this paper, it has been suggested to conduct case studies for examining the practical validity of LEMSEO model.
Keywords: Lean manufacturing; SME; Engineering organisations; seven wastes; Toyota production system.
Impact Ranking of Microfinance Institutions: An empirical study in India
by Prakash Singh
Abstract: The major source of growth for the Indian economy lies in its untapped resource of its substantial rural base. And one of the ways of reaching out to the rural base and making them part of the formal economy, thus bringing inclusive growth is by empowering them with basic banking products and services at an affordable cost. Microfinance (MFIs) is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their micro enterprises. The MFIs do not have too many sources to raise funds from, which in a way limits their growth. Also, there is very little data available in public domain to investors who are seeking to analyse the financial performance. This paper aims to identify the key ratios that investors should look at when determining the value of an MFI. Operating self-sufficiency, portfolio at risk and efficiency of loan officer come out to be significant variables.
Keywords: Microfinance; ranking; sustainability; impact; poverty.
DO STOCK MARKETS WITNESS INSTANTANEOUS REACTIONS TO CHANGES IN DIVIDEND TAX LAWS? : EVIDENCE FROM INDIA
by Shobhit Aggarwal, Mrityunjay Tiwary
Abstract: In this paper, we examine whether the dividend tax law changes in India in 2002 cause any instantaneous stock price reactions. Using high frequency data, we devise a novel method to segregate the impact of a particular stimulus from a series of stimuli. We show that investors did not react instantaneously to the dividend tax law changes. We examine four alternative explanations for this result: first, the demand for dividend paying stocks by tax-advantaged investors is matched by the supply from tax-disadvantaged investors. Second, markets are not efficient to depict any instantaneous reaction. Third, our methodology cannot isolate the effect of a single announcement made as part of a series of announcements. Lastly, there is a time lag before we witness investor reactions. Our results rule out all four alternative explanations. We conclude that dividend taxes are not an important criterion for investors to effect instantaneous stock price reactions.
Keywords: Dividend tax effect; Dividend tax clienteles.
Samriddhii: A Case of Integrated Social Entrepreneurship in Bihar
by SHALINI AGGARWAL, Anurag Pahuja, Ruchi Sharma
Abstract: The purpose of this research is to closely interrogate and validate Samriddhii as a social enterprise which has its very origin in Bihar, India. The intent and meaning behind this effort is to create enough room and openings to enable the beggared and destitute sections of rural sectors by creating the golden opportunities of self-employment which could enrich and improve their life style and lead them to a sustainable level of livelihood. This case study, which is a typical illustration and instance of social entrepreneurship at work, tenders a tinge of proffer to countless people globally by providing a true help by holding their hands irrespective of nationalities, cultures or other discriminatory elements. In the first place, this brain child of Kaushlendra Kumar has swept the shores of Bihar like a tsunami and became instrumental in changing the lives of small time landless farmers and vendors, who were all hitherto been living a life full of struggle. It provided an effective connectivity for them to the mainstream market.
Keywords: Vegetable Supply Chain; Modern Technology; Social Entrepreneur.
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.