Detailed review of literature in Indian and foreign context have empirically documented IPOs anomaly. This paper attempts to study immediate and short- to long-run performance of IPOs in India for the period January 2004 to December 2013. The present paper evaluates IPOs’ performance from initial day to long-term period based on average abnormal return, cumulative abnormal return, buy and hold abnormal return, wealth relative, and market adjusted abnormal return. The paper concludes that IPOs are a good bet to rely upon from immediate to short run and at most till medium term.
Bank financing is an imperative component of financing the companies. When banks are short on liquidity, this financing activity also tends to go slow. Banks liquidity is dependent upon the policy enforced by the central bank which uses cash reserve ratio (CRR) and Repo rates very frequently to this effect. Since bank credit is dependent on its liquidity position, any change in key policy rates will affect the corporate funding. This is the basic hypothesis which is being tested in this research. The objective of the article is to understand the effect of two important policy rates, Repo and CRR, on corporate output through aggregate sales of the listed companies. The objective was achieved by building a VAR system and doing the required analysis using quarterly data for the time period 2000–2015. One of the important findings was that lag effect is very critical to understand this relationship between policy rates and corporate output and while formulating policies, this should be an important variable to be considered.
The present study is an attempt to examine critical perspective of high-performance work system in Indian settings. As per critical perspective, high-performance work practices (HPWPs) may lead to increase in job demands and pressure, which, in turn, may result into poor employee attitudes and well-being. The article seeks to examine the perspective by exploring the direct linkage between HPWPs and employee well-being. Employee well-being is studied through three constructs, namely, employee commitment, job satisfaction, and work–life balance satisfaction. Data reveal direct statistical relationship between awareness and perception of employees with all three constructs of employee well-being. Thus the article statistically discards critical perspective and approves mutual gain perspective of high performance practices. Further managerial implications and theoretical contribution of the article is also discussed.
QSR ... the buzzword all over the world. Quick service restaurants (QSRs) are the fast food retail outlets which provide fast food in no time. The leading QSRs are McDonald, KFC, Pizza Hut, Dominos Pizza, Subway etc. Almost every major city in India and all over the world is having most of these fast food restaurants. The customers are visiting these outlets either to spent leisure time or they do not have time to go for home made meals. In such a situation it is very difficult to know what exactly the customer wants. The fast food business in India and the rest of the world is getting increasingly more complex and competitive. Keeping this market situation in view, primary objective of this study is to identify the attributes of customer patronage for choosing a particular fast food outlet for fast food consumption. The study also offers recommendations to the fast food retailers based on the most expected attributes by the fast food consumers.
The paper discusses the relationship between emotional intelligence and decision-making styles (Intuitive, Decision making through thorough analysis, Consultative, Based on Market demand) of Entrepreneurs in the Indian manufacturing Industry. Past literature supports the importance of vision for decisions to be advantageous to the company. The present paper is an effort towards this direction, of understanding the role played by Top management teams Vision, between (Emotional Intelligence) EI and Decision making style (DMS). The sample consisted of 4 Indian medium-sized manufacturing companies. Emotional Intelligence was measured by an EI questionnaire by Esther Orioli, Cooper & Sawaf, and Decision-making styles questionnaire for measuring decision-making style of Indian entrepreneurs. Test of Cronbach’s alpha for all the variables were above 0.8, indicated that reliability for these questionnaires were accepted. The analysis is done using Structural Equation modeling. The results emphasize on the importance of emotional intelligence of entrepreneurs on their decision making style and the mediating role of Vision between emotional intelligence and Decision making style. Analyzing the data revealed that there is a significant positive relationship between EI and Decision making style (DMS) through TMT Vision. The study supports the past theory of interdependence of emotion and cognition in Decision making process.
To make the success of the brand in the market, basic and one of the most important elements is the "positioning". For right positioning of the brand in the mind of the customers, study of the consumer behavior is essential. This study includes laptop industry and end users of the laptop brand. The major focus of the study is search for the answer of the question: "Do people buy the laptop brand which resembles their own personality?" In search of the answer, so many literatures have been studied. Aaker (1997) has developed scale "Dimensions of the Brand Personality" and Malhotra (1981) has developed scale to measure Self-concept, Person concepts, and product concepts. According to him the same scales which we are using to measure brand-image can be used to measure self-image. For the study both literature taken as base with others to identify the congruence between the brand personality and user’s own personality correlation analysis have been used. To support this major finding, brand-wise correlation analysis, analysis of variance, and LSD test have been used. It identify there is an association between the role of gender and the laptop own for which the test has been performed.
Many criticisms are being made relevant to the effectiveness of the community-oriented corporate social responsibility (CSR) projects implemented by business organizations today. This study has been carried out with special reference to the community-oriented CSR project implemented by a local subsidiary of a multinational company in Sri Lanka with the purpose of investigating the targeted community’s perception of the project. The qualitative approach was used as the main research method using the case study approach. For the purpose of data collection, interviews, observations, and documentary reviewing were used. The findings reflect that the targeted community perceives that the renovation of wells project is just a gesture of good work, but it brings fewer benefits to them. The concept "community partnership" can play a significant role with regard to the effectiveness of the project. This study concludes that companies should design their CSR projects in the way that meets the needs and expectations of the target social actors in order to create win–win outcomes for both company and target community.
The article deals with the project risk analysis for electrical transmission line installation projects, where both probabilistic decision tree (DT) and non-probabilistic analytical hierarchy process (AHP) methods are used simultaneously on the same risks. The study gives the complete analysis for each risk type and finally they are analyzed by both AHP and DT; both of these techniques are selected for project’s risk minimization while designing the risk mitigation plan. A model is generated for minimizing the project risk and the risks selected after being analyzed through AHP and DT are then treated with this model for risk mitigation. Overall the study minimizes project risk by a three-step procedure, that is, AHP, DT, and finally through the risk minimization model for electrical transmission line installation projects.
The rationale of the current research is to seek the role of training methods (on-the-job and off-the-job) on Tacit Knowledge Sharing (TKS) behavior of the employees of IT organizations in India. Highly prevalent on-the-job and off-the-job training methods (six of each) have been identified through Delphi (experts from IT organizations in India). The research involves an in-depth study of training methods, and their affect on TKS behavior. For the study, TKS has been divided into three forms: Organization related Knowledge Sharing behavior (OKSb), Project/Task related Knowledge Sharing behavior (PKSb) and Skills related Knowledge Sharing behavior (SKSb). The study focuses on IT organizations in India. A semi-structured questionnaire has been developed. For the data analysis of the research SEM tool has been employed with training methods as Independent variables and forms of TKS as Dependent variables. Since the paper is based on a single research setting, the findings have potential limitation of the static nature of the study i.e. generalization of the findings.
The main aim of the article is theoretical and empirical analysis of the causal relationship between the budget balance and the current account balance in India from the period 1990–2013. The article starts with a descriptive statistics to check the presence of normality in the frequency distribution followed by unit root test of non-stationarity. The presence of short-run and long-run relationship among the concerned variables, current account balance and fiscal balance has been tested by applying co-integration test followed by vector error correction mechanism, and finally it ends with Wald–Granger causality test. The results of the Wald–Granger casualty test claim that there exists bi-directional causality among the variables in the long-run whereas, the cointegration test results also conform the long-run association among the variables, and vector error correction mechanism results claim that there is no short-run relationship among the variables. The results indicate that the twin deficits hypothesis does exist in India.
The existing research on charitableness focuses on the consequences of the charitable behavior, rather than its determinants. In this paper, we focus on Jackson’s Learning Profiles, and suggest that when assessed through learning profiles, emotional management accounts for the values of benevolence and universalism, which are values commonly associated with charitableness. A cohort of university students participated in a study that examined related hypotheses suggesting that learning profiles in personality can predict the charitable values of benevolence and universalism both directly and indirectly via emotional management. In the present study, general support of the hypotheses was established based on Jackson’s learning styles profiler. Hence, emotionally intelligent achievers directly predicted the charitable values of benevolence and universalism, and managing one’s own and understanding others’ emotions mediated the association between Learning Profiles and charitable values.
In the present article an attempt has been made to estimate the responsiveness of prices and household expenditure on consumption of energy for cooking and lighting at household level in rural and urban areas in India. Household level energy elasticities are estimated for the rural and urban areas with the help of dummy variable regression approach by using National Sample Survey Organization (NSSO) 66th quinquennial rounds of unit level data for the year 2009–2010. The results reveal the fact that energy intensity for rural areas is higher than urban areas while average expenditure recorded on energy for cooking and lighting in urban areas is higher than in rural areas at all India level. Majority of the households are using dirty fuel for cooking in rural areas while in urban areas clean fuel, that is, LPG is used for cooking. The expenditure on energy for cooking and lighting at household level is inelastic. The marginal budget share in rural and urban areas is the same. Results reveal the fact that 100 percent increase in the prices of energy for cooking and lighting will increase the expenditure of households in rural region more than in urban region.
Management Institutes are changing over the last decade because of competition, changes in technology, teaching pedagogy, and placement expectations from students and value for money for their parents. The next decade will bring even greater change impacting on all facets of the management institutes including major changes in infrastructure facilities, role of director, faculty members, and students of the management institutes.
Changes may take place because of placement of students, faculty member’s attitude toward students and institute etc. It is up to the management of the institute to see how effectively and smoothly these changes could be done to face competition. In this research paper an attempt has been made to know the need and types of changes required, effect of changes on faculty members and management institutes, and understanding and solving the difficulties in implementing changes in the management institutes.
For this research paper 60 faculty members were covered from management institutes in Pune. It is a descriptive research and convenience sampling was used. Primary data were collected from questionnaires. Secondary data were collected from journals, magazines, and web sites. Data analysis and hypothesis testing were done. The study revealed that faculty members like the changes made by the institute, changes are due to less admissions and adopting new technology/methodology. Difficulties/problems for implementing the changes are: Barriers in communication, interpersonal relationship, no role clarity, not understanding the necessity for change, and not accepting responsibility for change.
Tourism is one of the basic desires of every human being for experience, education, and entertainment. It is also one of the important areas in the tertiary sector of India. Health care is a subsector under tourism. Health care tourism sector has gained enormous response throughout the world and in India, especially during this post-globalization phase. It is so primarily because of its association with the inflow of foreign exchange through foreign tourist arrival, and foreign direct investment and its impact on the economy—sociocultural, economic, politico-legal, etc. The contribution of domestic tourist also cannot be ignored.
The article is aimed to create awareness among various stakeholders of health care tourism in West Bengal and at the same time create more enthusiasm toward the subsector. The article also puts forward some specific recommendations to make the West Bengal health care sector more viable, vibrant, and sustainable.
The aim of the article is to study the influence of life priorities on work preferences in the context of Generation Y, the largest cohort of generation in India. It also attempts to uncover their preferences on both the parameters. The gender variations on the constructs have also been analyzed. Schwartz’s Value Inventory (1994) and Twenge, Campbell, Hoffman, and Lance’s motivational model (2010) are the instruments utilized for life priorities and work preferences. Respondents rank the life priorities and work preferences elicited through a survey questionnaire administered online from a convenience sample of Gen Y. Multiple regression analysis (stepwise) is used to find out the degree of influence of life priorities on work preferences. Independent t-test was conducted to measure the gender variations in life priorities and work preferences. Life priorities showed a link with one or more work preferences. More specifically, self-transcendence has been found to positively influence Gen Y preference for freedom at work. Openness to change explained significant amount of variance in extrinsic work motivation. Conservation and openness to change came out to be the most important life priority among Gen Y and were mostly motivated by altruistic and extrinsic rewards. Gen Y is increasing its presence at workplaces across the world and limited research has been done to study their motivations, needs, and expectations at work in Indian context. This study could help managers gain insightful information related to Gen Y life priorities and work preferences which could be harnessed to make effective strategies for their recruitment and retention.
Electricity is one of the basic needs apart from food, clothing, and housing. Coverage, continuity, and sustainability are three dimensions of supply that need to be focused by distribution companies. It was observed that distribution companies like Scottish Power in UK, Vattenfall in Europe, and Tata Power in India have undertaken serious steps in improving customer satisfaction. This article compares efforts put by power utility companies in developed and underdeveloped countries, and highlights future needs and challenges faced with solutions for power sector in India.
In this article we propose to study whether firm level good corporate governance (CG) leads to better firm performance, leading to higher value creation. Limited evidence exists concerning the impact of CG practices on firm level performance or valuations in the Indian context. This study attempts to fill this gap. Our motivation is to explore the linkage between good CG practices and firm performance in Indian listed companies. We use a panel of 58 top Indian listed companies in terms of market capitalisation (BSE 100 and NSE 100), over the five year period from 2007–08 to 2011–12 for our analysis. Our measurement analysis starts with a broad sample of 37 structural indicators of CG relating to directors, boards committees, audit considerations, ownership and capital structure characteristics and our defined set of control variables. We have used two measures of firm performance, Market to Book Value Ratio (MTBVR) and Return on Asset (RoA). We use principal component analysis to identify the underlying dimensions of CG and determine which indicators are associated with each factor. We conclude that firm performance, measured by RoA, results in R-square of 43.7 per cent, and is significantly influenced by the 7 factors. Firm performance, measured by MTBV Ratio, results in R-square of 34.5 per cent, and is significantly influenced by the 8 factors.
The purpose of this research is to explore the relationship between the marketing elements, brand equity (BE) dimensions and BE construct in the UAE fast-moving consumer goods (FMCG) category with a view to strengthening the understanding of the relationship as postulated by Aaker (1991) and validate the scales developed to test the constructs in previous studies.
Aaker (1991) proposed that the BE construct is built on brand awareness, brand loyalty, perceived quality, brand associations, and other proprietary brand assets, which in turn are built by managing the elements of marketing. A priori, it is postulated that there are 10 constructs of which five are marketing elements (price, distribution intensity, advertising, price promotions, and non-price promotions) and four BE dimensions (brand awareness, brand loyalty, perceived quality, and brand associations) and a final construct—overall brand equity. Thirty-three items were carefully selected from previous studies covering all the constructs. Data were collected from 536 respondents using major brands to stimulate answers on a 5-point Likert scale questionnaire. Exploratory factor analysis was done to identify factors and rename them to be descriptive of the factor. Scale reliability was conducted on the overall items and the individual factors and also for the individual summated scales as per the factors.
The 33 items were factored into seven factors with the four marketing elements’ factors (price, distribution, advertising, and promotions price and non-price factored into one) as per the a priori assumptions. Items measuring BE and its dimensions were factored into three factors instead of the theoretical five constructs. The BE factor encompasses the BE dimensions with brand awareness with brand association (BABA) and brand image coming up as separate factors. Seven of the eight factors also showed strong scale reliability.
This study suggests that the four marketing elements can be modeled and measured based on the items selected. BE dimensions do not factor into the assumed dimensions but the three dimensions that are factored can be renamed to be more representative and incorporated into the model. Furthermore, these items can be used to construct measurement scales for the identified constructs within the UAE and the larger Gulf Cooperation Council (GCC) region.
This study, being the first of its kind in the UAE, contributes to the general body of knowledge on branding and marketing. The respondents covered are both Arabs and Asians, who constitute the majority of the population in the region. The sample size is large and covers gender, age groups, ethnic background, income group, and education level hence being highly representative of the actual consumers. The constructs identified and the items tested can be used for further studies and also used to construct measurement scales which can be used in practical business situations.
High turnover of nurses is detrimental to patients’ well-being and costly to the organizations. Study was conducted in private hospitals considering their high rate of nurse attrition. Research has indicated that Job satisfaction and commitments to the organization, occupation, and group influenced the turnover of the employees in several countries. Some studies have also shown interrelationships between job satisfaction and commitments. India is culturally different from those countries and cultural variation plays a significant role in job satisfaction and these commitments.
The study showed that job satisfaction, affective commitment, and occupational commitment of nurses negatively relate to their turnover intentions, although no significant relationship between group commitments and turnover intentions was established. Job satisfaction and group commitment significantly relate to affective commitments and group commitment relate to job satisfaction of the nurses. Affective commitments mediate in the relationship between job satisfaction and turnover intention of nurses. Relationship between occupational commitment with that of job satisfaction, affective and group commitments was not found significant. This research may help health-care managers to devise suitable plan for retention of nurses.
Twenty-first-century organizations are expanding its business across globe to cater varied needs of society and in this process different people join such organizations from various walks of life giving rise to a diverse workforce. It is presumed that organizations having varied people with creative and problem-solving skills will create competitive advantage for organizations. However, it is pertinent to mention here that these people belong to different locations and different cultures and may have differences in values, language, behaviors, preferences, and norms which may lead to friction/complications with other people. In spite of such differences, they are expected to work as a cohesive team to achieve desired performance of the organization. However, at the same time it is observed across industries that there are certain unknown impediments which lead toward disengagement at workplace, resulting into high employee turnover, and consequent poor performance of organization. Several scholarly studies in this context have been carried out to understand and minimize the complexity based on different inferences. Many positive psychologists apprehend that understanding and appreciating the emotions of other person will give the organizations a rational upshot in terms of managing diversity at workplace. Taking their cognizance we hypothesize that if organizations are able to hire the employees with good emotional intelligence (EI) skills, it would be helpful for smooth functioning of team or else the employed personnel should be trained properly in EI to accept challenges during work force diversity. Therefore, this conceptual review is going to critically examine the behavioral patterns of workforce, organizational interventions, and leadership challenges to address them in the context of diversity at workplace.
Assessment of performance in a regular and systematic manner is an essential activity on the part of the management, because it not only serves to evaluate and monitor the growth and development of the organization; but also provides necessary career direction for an individual employee. By establishing clear performance expectations which includes results, actions, and behaviors, the process helps the employees in understanding what exactly is expected out of their jobs. Clearly defined goals blended with regular assessments of individual performance is pertinent for defining the corporate competencies and exploring the major skill gaps that serves as a useful input for designing the HRD plans for the employees. However, in many organizations there happens to be a gap between the intention and actual practice of performance appraisal systems. Especially in Indian organizations, earlier research has surfaced the fact that, the existing performance management systems (PMSs) though provides for use of appraisal data for administrative purposes, but in actual practice there is missing link between the appraisal outcomes and subsequent design and execution of developmental program. Keeping in view of the importance of such an emerging area, an attempt has been made by the researchers to assess the perceptions of employees regarding the PMS and its role in achieving organizational effectiveness. A survey has been conducted though a questionnaire along with focused group discussion to examine the efficacy of performance management as a tool of HR interventions with 200 purposive sample professionals employed in Indian manufacturing industries. The analysis confirms the association between PMS and organizational effectiveness. However, there are difference of perception between line managers about PMS and where agreement exists; it is not associated with superior outcomes because of lack of clarity in the existing system. By analyzing the discussions, it was concluded that, there is distinct differentiation of involvement of different levels of management in the performance appraisal mechanism. Moreover, the reciprocal trigonometric relationship between the PMS, competency management system, and training and development is also emphasized.