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1
Pandey, Rakesh, Dennis Taylor, and Mahesh Joshi. "Family presence and financial performance in large listed companies in India." Corporate Board role duties and composition 7, no. 2 (2011): 40–53. http://dx.doi.org/10.22495/cbv7i2c1art4.
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This study investigates the impacts of family presence and board independence on corporate financial performance in 131 large listed firms from India, an emerging economy dominated by the presence of large business groups having concentrated ownership. Family presence includes the extent of family ownership and appointment of family CEO and family chairperson. Employing a multiple linear regression model, this study first detects a positive relationship between family ownership and financial performance. Second, a negative relationship is found between family CEO and firm performance, indicating that family firms with non-family CEOs perform better than firms having family CEOs. Third, the proportion of Board outsiders ‟ (i.e. independent non-family directors) is found to have no significant relation to financial performance, thus challenging agency theory‟s need for independent monitoring in family firms to enhance performance. These results are interpreted in the context of historical Indian family business practices and modern changes.
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Ganguly, Aniruddha. "HR Dynamics in Family-managed Businesses in India." NHRD Network Journal 13, no. 1 (January 2020): 48–61. http://dx.doi.org/10.1177/2631454119894742.
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Out of the 100 largest companies listed in India in terms of market cap, more than 50 per cent are family managed. Indian family-managed companies have a distinct organisational culture. Organisational culture shapes and re-shapes people management, influenced by several factors—stage of evolution of the organisation, environmental/economic challenges and owner family culture. The way the owner family conducts itself embodies family governance. Family governance influences corporate governance. Human resource management (HRM) is an essential element of corporate governance. Nature of HRM in family-managed companies is significantly influenced by the way the owner family drives it. Some of the large Indian family-owned companies are consistently high on market cap because they are able to attract and retain the best talent. They can do this consistently because the best talent gets attracted to the best HR practices in an organisation. There is increased awareness of this among Indian owner families and they are now adopting world-class people practices to attract the best talent from the market. Soon we shall have many more Indian family-owned companies indistinguishable from western family-owned companies in terms of people practices.
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Pandey, Rakesh, Dennis Taylor, and Mahesh Joshi. "Governance of large family companies in traditional and new economy industries in India: Effects on financial performance." Corporate Ownership and Control 8, no. 3 (2011): 108–23. http://dx.doi.org/10.22495/cocv8i3p9.
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This study adds a new context to the body of empirical literature on relationships between corporate family ownership, governance and financial performance. The context is large family listed companies in India operating in traditional industries under succeeding generations of family management compared to companies operation in India’s ‘new economy’ industries under first generation family entrepreneurs. Results reveal a negative relationship between family CEO and firm performance, and a positive relationship between family ownership and firm performance, which supports prior findings in other contexts. However, in this study of Indian family companies, the former relationship is found in ‘new economy’ industries only, whereas the latter relationship is found in traditional industries only. Additionally, in India, Boards that are more actively involved in management processes will record superior financial performance in companies in traditional industries, but Boards less actively involved achieve better financial performance in new economy industries. These results are interpreted in light of historical Indian family business practices and modern changes. Implications for the future of the traditional family business model, as India rapidly progresses towards ‘new economy’ industries, are drawn from the results
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Rathna, Kumudha. "Impact of Clause 49 of Listing Agreement of Securities and Exchange Board of India on Corporate Governance." Christ University Law Journal 1, no. 1 (September 1, 2012): 127–34. http://dx.doi.org/10.12728/culj.1.9.
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Corporate governance is the current exhortation in India as well as the world over. As an offshoot of economic liberalization, global investment in the form of foreign direct investment and foreign institutional investment
have gained momentum leading to vast economic growth in India. On the other hand, major corporate scams that have occurred worldwide in recent times, have revealed that the need for strict supervision and scrutiny over
corporate management and governance is a sin quo non for the protection of stakeholders and the growth of the nation which has to compete with the multinational companies in the global arena.
Further, in India, most of the listed companies, and substantially all billion-dollar companies, are family-run. A particular characteristic of the Indian corporate landscape, however, is a tendency for individuals (and their families) to establish large interlocking networks of subsidiaries and sister companies that include partially owned, publicly listed companies. Such pyramidal structures can lead to severely inequitable treatment of shareholders. The extent of this control is frequently opaque to outsiders and undisclosed by insiders. A particular need for effective corporate governance in India is, therefore, to encourage the dynamism and
growth of family. The inclusion of Clause 49 by Securities Exchange Board
of India (SEBI) in the listing agreement between companies endeavouring to have their securities listed in stock exchanges has impacted the modality of corporate management.
This research paper examines the impact of clause 49 of listing agreement of SEBI on corporate governance.
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NAVEEN KUMAR. "A Conceptual and Evolutionary Study of Corporate Social Responsibility in India." International Journal on Integrated Education 3, no. 8 (August 29, 2020): 195–99. http://dx.doi.org/10.31149/ijie.v3i8.563.
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Corporate Social Responsibility (CSR) is the concept of defining the responsibilities of the business and engaging them to perform their social duties. CSR is a not an Indian concept but a global one. World’s Richest man, Bill Gates, is also a great philanthropist who and his wife jointly run, Bill and Melinda Gates Foundation. Richest family of India, Reliance, runs Reliance Foundation whose chairperson is Mrs. Neeta M Ambani. This spirit is to be ignited in all the business houses and companies of India and for this in 2014 Government of India passed the law to include CSR as a compulsory contribution made by the eligible companies, as defined in section 135 of Companies Act 2013. The paper studies the evolution and development of CSR in India in its present form.
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Dangal, Subadra Devi, and Uday Chettri. "Economic Status of women working in Pharmaceutical companies of Sikkim, India." Nepal Journal of Multidisciplinary Research 2, no. 4 (December 31, 2019): 34–39. http://dx.doi.org/10.3126/njmr.v2i4.28705.
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The women have various responsibility in the family because they have to take care of children, family members and also have to involve in the outdoor activities to generate income. Participation on of women in economic activities is high in Sikkim. Women also play a major role in trending activities. So the study has explored the economic status of working women. The study was conducted in Sikkim among the 385 women working in Pharmaceutical companies. The structured survey questionnaire was used to collect the data. The collected data were statistically analysed and presented in the tabular form. The findings show that the majority (50.9%) working women were getting less than Rs. 10000/- per month from the service which was not adequate as their basic household needs. It is found from the that maximum percentage (84.2%) of respondents didn’t have any personal property in their name because of the society of patriarchal system and cultural practices of gender-based division of labour. The study suggests that concerned government and companies should enhance the capacity of working women and should increase their incentives considering the basic needs of workers.
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Karofsky, Paul I. "Interview with Sampath Durgadas." Family Business Review 13, no. 4 (December 2000): 339–44. http://dx.doi.org/10.1111/j.1741-6248.2000.00339.x.
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In November 1998, Paul I. Karofsky visited with several family-owned and -managed businesses in India. The powerful cultural and family influences on family-owned enterprises sparked his desire to interview Sampath Durgadas, a visiting professor and consultant to family businesses at the Institute of Management in Bangalore. Over a 12-year period, Mr. Durgadas conducted extensive experiential research on the nature of transition in three family-owned companies. Although the focus of his work is on the four South Indian states of India, he traveled widely throughout the country. His book, entitled Inheriting the Mantle: Managing Succession in Indian Family Business , is under publication by Sage Publications New Delhi.
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Chahal, Himani, and Anil K. Sharma. "Family Business in India: Performance, Challenges and Improvement Measures." Journal of New Business Ventures 1, no. 1-2 (June 2020): 9–30. http://dx.doi.org/10.1177/2632962x20960824.
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Existing literature on family businesses brings out their significance globally. The prevalence of family businesses is a phenomenon that is universal and found in most countries worldwide, although their relative impact on economies does vary. This article reviews papers in the accounting and finance literature on family businesses around the world and shows that the involvement of family members in the business may have a positive, negative or no impact on its financial performance. In the Indian context, the literature review indicates that India’s rich and ancient history seems to be interrelated with the family-run businesses as the principal means of business organization. The paper gives a glimpse of the status of family businesses in India since independence and the distinct characteristics of Indian family businesses. In the next section, we try to find out how family firms are performing in India in comparison to non-family firms by studying companies listed in the National Stock Exchange of India Ltd. (NSE) 500 Index for a period of 5 years ranging from 2014 to 2018. The results show that family businesses are not performing significantly better than non-family firms in the Indian business scenario. We try to highlight the reasons for the same by underlining the issues faced by family businesses and suggest measures to overcome these issues. The study concludes with a discussion on the lessons that new family business ventures can take from family business groups in India that have made a mark in the Indian and the world business scenario because of their ability to face and successfully overcome challenges faced by family firms.
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Karlapudi, Thriveni Kumari. "An Empirical Study on Impact of Work/Family Conflict on Occupational Future of IT Employees." International Journal of Human Capital and Information Technology Professionals 13, no. 1 (January 2022): 1–16. http://dx.doi.org/10.4018/ijhcitp.296690.
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Introduction: In recent years, with the increase in growth of Information Technology (IT) companies and diversified workforce, there is an increased research on Work\family conflict and occupational future. Objective: The objective is to study about the work\family conflict relation with occupational future with the effect of environmental support (support from organization and family) as moderator. Methodology: The data is gathered from 392 Information Technology employees working in different Information Technology companies in India. The data is analyzed with hierarchical regression and correlation Results: The outcomes of the study divulged a positive relation between work\family conflict and occupational future. And also, the results showed that every environmental item does not moderate between work family conflict and occupational future. Conclusion: Therefore work and occupational future is significant for the existence of IT industry, provide practical awareness of employee welfare and improve balanced life which might differ under certain specific conditions.
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Dayals, Ishwar. "MART." South Asian Journal of Business and Management Cases 1, no. 2 (December 2012): 71–75. http://dx.doi.org/10.1177/2277977912471111.
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After holding senior positions for 20 years in three multinational companies, where he was highly regarded. Pradeep Kashyap at the age of 40 years resigned. He wanted to help individuals and families in rural India to improve their livelihood. He decided to set up a company where people will respect one another, cooperate and take responsibility for whatever they do. They should be transparent in their dealings with other colleagues and outsiders, and have a sense of belonging. Companies in his experience suffered from hiding information, competing with others and back biting. The only model that he wanted in this company was that of a family. The case discusses the processes that created family-like environment.
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Kumari, Thriveni, and Rama Devi Vangapandu. "Impact of Work-Family Conflict on Career Development of Knowledge Workers in Indian IT Sector." International Journal of Human Capital and Information Technology Professionals 12, no. 3 (July 2021): 37–53. http://dx.doi.org/10.4018/ijhcitp.2021070103.
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Work-family conflict is one of the major problems that influence career development of knowledge workers in the information technology (IT) sector. The purpose of the paper is to examine the relation between work-family conflict and career development with the moderating effect of age. The data was collected from 278 knowledge workers (IT professionals) employed in different IT companies across India. The data is analysed with descriptive statistics, correlation, and hierarchical regression through statistical package for the social sciences (SPSS) 21.0 software, AMOS for structural equation modelling (SEM) analysis, and interaction software for analyzing interaction item age. The results of the study revealed that there is a negative relation between work-family conflict and career development. In addition, the findings also supported that age moderates the relation between work-family conflict and career development. This study is important to IT companies, which will provide useful insights in managing the employees' well-being.
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Tawiah, Vincent, and Pran Boolaky. "Consequences and determinants of IFRS convergence in India." International Journal of Accounting & Information Management 28, no. 2 (March 7, 2020): 303–22. http://dx.doi.org/10.1108/ijaim-06-2019-0062.
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Purpose The purpose of this paper is to provide evidence of how convergence to International Financial Reporting Standards (IFRS) impacts accounting values and the determinants of variation in equity adjustments among Indian companies. Design/methodology/approach Using a sample of 323 listed companies, the authors empirically test whether there is a significant difference between converged IFRS (Ind.AS) and Indian Generally Accepted Accounting Principles (GAAP) (AS) reported figures and ratios and why companies adjust differently. Findings This paper reveals that fair valuation under Ind.AS causes a significant decrease in goodwill. A substantial decrease in both current and long-term liabilities because of non-recognition of proposed dividend, discounting of long-term provision per Ind.AS was also found. The variations in equity adjustment were significantly influenced by capital structure, level of family control and auditor type. Practical implications This paper provides insights to users who are interested in historical data, that Ind.AS brings significant changes in the accounting values and ratios and the impact differs among companies based on capital structure, ownership and auditor type. Originality/value This paper contributes to the literature of IFRS convergence in India by providing rational analysis of the differences between IFRS, Indian converged GAAP and Indian local GAAP among companies and its impact on accounting values.
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Naz, Raveena. "Efficacy of corporate social responsibility in corporate governance structures of family owned business groups in India." Corporate Governance and Organizational Behavior Review 2, no. 1 (2018): 52–68. http://dx.doi.org/10.22495/cgobr_v2_i1_p5.
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The concept of ‘Corporate Social Responsibility’ (CSR) has often relied on firms thinking beyond their economic interest despite the larger debate of shareholder versus stakeholder interest. India gave legal recognition to CSR in the Companies Act, 2013. CSR in India is believed to be different for two reasons: the dominance of family business and the history of practice of social responsibility as a form of philanthropy (mainly among the family business). This paper problematises the actual structure of business houses in India and the role of CSR in a context where the law identifies each company as a separate business entity while the economics of institutions emphasizes the ‘business group’ consisting of a plethora of firms as the institutional organization of business where capital owned or controlled by the family group is spread across the firms through the interlocked holding structures. Within this framework, the largest family firms, which are part of family owned business groups, top the CSR expenditure list. The governance structure of family firms allows family owned business group to show mandatory compliance of CSR even when they actually spend much less than what is prescribed by law. This aspect of the family firms is not addressed by the CSR legislation in particular or corporate governance legislation in general in India. The paper illustrates this with an empirical study of one of the largest family owned business group in India Reliance Industries Limited (RIL), which is well acclaimed for its CSR activities. The paper demonstrates how the business group through these series of shareholding network reduces its legally mandated CSR liability. The paper thus indicates the inadequacy of CSR legislation in India because the unit of compliance is an individual firm and it assumes that each firm is independent and only connected to each other through market dealings. The law does not recognize the inter-connections of firms (through common ownership and control) in corporate governance structures of family owned business group and hence is inadequate in its design to effect the threshold level of CSR expenditure. This is the central argument of the paper.
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Gupta, Sangeeta, and Poonam Devdutt. "Exploring the Work-Family Integration During COVID-19 and Beyond." ECS Transactions 107, no. 1 (April 24, 2022): 3035–47. http://dx.doi.org/10.1149/10701.3035ecst.
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Due to the COVID-19 pandemic, influence on business and organization practices and policies, and the number of couples joining the workforce in India has increased significantly. Due to forced work-from-home strategy and rigid work policies, couples struggle to integrate their professional and personal lives effectively. Various work and family-related topics are examined in this study to see how Indian couples manage work and family. An exploratory qualitative research article interviewed ten couples from Indian software companies. The six main themes that emerge from the stories include the impact of family on life choices, the difficulties of balancing many roles, and the need for coping methods in the workplace.
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Bhatia, Prof Dhrupa, and Prof Anjali Mote. "WORK FROM HOME (WFH) POST-COVID-19 WILL BE BOON OR BANE: A DESCRIPTIVE STUDY OF INDIAN PROFESSIONALS ACROSS THE BIRTH YEAR, MARITAL STATUS, FAMILY TYPE, AND NUMBER OF CHILDREN." BSSS Journal of Education 11, no. 1 (June 30, 2022): 102–14. http://dx.doi.org/10.51767/je1108.
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Work from Home (WFH) initiatives had varied effects on professionals across the world. The studies conducted to date mainly focused on US professionals. This study aimed at answering the research question of whether WFH would be a boon or bane for Indian professionals across their a) birth year, b) marital status, c) family type and d) the number of children. The survey was conducted among 327 professionals across India. The findings highlighted that WFH will lead to personal and professional well-being and WFH should be considered in the workforce strategies of companies which will lead to companies having better employer branding. The younger professionals believe that they would be able to focus more on office work and improve interpersonal relations. Indian single professionals agree that they would be able to focus better on their hobbies and diet and will reduce their fatigue. Married professionals are more positive about getting better career opportunities. Indian professionals from the nuclear family agree that companies will be able to reduce their costs and get better talent if they implement WFH. Indian professionals with no children agree that they would be able to complete projects and deadlines. WFH will be a boon for Indian professionals across the birth year, marital status, family type, and the number of children.
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Som, Ashok. "Mahut Group: A Failed Case of Organizational Restructuring." Asian Case Research Journal 09, no. 01 (June 2005): 1–23. http://dx.doi.org/10.1142/s0218927505000617.
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Mahut Group (name disguised) was a family-owned business group that operated two cement companies, Heera and Moti (names disguised), in Gujarat, the Western part of India. Heera Cement had been making substantial losses since its inception and was currently under the consideration of Board of Industrial & Financial Reconstruction (BIFR). Moti Cement was also a loss-making company but the losses were not as substantial as that of Heera. Each of the cement companies, Heera and Moti, had a production capacity of 1.2 million tons of cement per annum. The Mahut Cement Group had about 1000 employees, out of which about 30 personnel were in the top management. As of 1999, both the cement companies competed with each other in addition to competing with other cement players operating in Gujarat. The cement industry was deregulated in India in the late 1980's which resulted in fierce competition and price wars among the cement firms. In the face of this fierce competition, the Group decided on a restructuring process, and hired an American consulting firm, in 1998, to find a "synergy" between the two companies, Heera and Moti, and help the two companies to turnaround. This case discusses the issues of the restructuring process and the various interventions undertaken by the top management of Mahut Group. The case discusses the recommendations of the consultant and the role of human resource management during the restructuring process.
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Böhmer, Nicole, and Heike Schinnenburg. "Career decisions of Indian female talent: implications for gender-sensitive talent management." Employee Relations: The International Journal 43, no. 1 (July 31, 2020): 319–35. http://dx.doi.org/10.1108/er-12-2018-0344.
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PurposeTalent scarcity in emerging economies such as India poses challenges for companies, and limited labour market participation among well-educated women has been observed. The reasons that professionals decide not to pursue a further corporate career remain unclear. By investigating career decision-making, this article aims to highlight (1) the contextual factors that impact those decisions, (2) individuals' agency to handle them and (3) the implications for talent management (TM).Design/methodology/approachFollowing a qualitative research design, computer-aided analysis was conducted on interviews with 24 internationally experienced Indian business professionals. A novel application of neo-institutionalism in the Indian context was combined with the family-relatedness of work decisions (FRWD) model.FindingsCareer decisions indicate that rebellion against Indian societal and family expectations is essential to following a career path, especially for women. TM as part of the current institutional framework serves as a legitimising façade veiling traditional practices that hinder females' careers.Research limitations/implicationsInterviewees adopted a retrospective perspective when describing their career decisions; therefore, different views might have existed at the moment of decision-making.Practical implicationsDesign and implementation of gender-sensitive TM adjusted to fit the specific Indian context can contribute to retaining female talent in companies and the labour market.Originality/valueThe importance of gender-sensitive TM can be concluded from an empirical study of the context-based career decision-making of experienced business professionals from India. The synthesis of neo-institutionalism, the FRWD model and the research results provides assistance in mapping talent experiences and implications for overcoming the challenges of talent scarcity in India.
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Krishnakumar, Sheeja. "Working Rural Women - Acknowledgement on Various Roles." SDMIMD Journal of Management 12, no. 2 (October 1, 2021): 77. http://dx.doi.org/10.18311/sdmimd/2021/28621.
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There are transformations happening in the social and economic front in the rural areas of India. Among the many changes, perception on women’s employment in information technology-enabled service companies among the rural society is emphasised in this study. This paper focuses on the views among the rural public towards changing woman’s roles and responsibilities in the family beyond the roles as a mother or wife due to an increase in women’s employment in information technology-enabled services companies. The article tries to examine whether there is a change in the perception between males and females in the rural area towards women’s employment. Besides, the study tries to see whether the working woman’s contribution to family wellbeing is influenced by childcare, more earning by husband, household duties and good relationship with children. Eight hundred and eleven samples were collected from four different districts of two states in India. The statistical tools used for the study are T test, Anova, multiple regression and discriminant analysis. The demographic variables considered for this study includes age, gender and education. The regression analysis revealed that wellbeing of the family is related to woman’s involvement in taking care of children, involving in household activities and maintaining good relations with children. The discriminant analysis reveals that there is no difference between the genders regarding her employment. The mind set of women taking care of children and household activities still remain priority but their perception that husband’s earning should be more than wife and spending extra time outside for official purpose is not given significance. There is a positive change in the attitude of the rural society towards woman’s employment. Her involvement in childcare and household activities is for the wellbeing of the family and for the future generation. This positive outlook encourages more women to the workforce in rural areas.
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Krishnakumar, Sheeja. "Working Rural Women - Acknowledgement on Various Roles." SDMIMD Journal of Management 12, no. 2 (October 1, 2021): 77. http://dx.doi.org/10.18311/sdmimd/2021/28621.
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There are transformations happening in the social and economic front in the rural areas of India. Among the many changes, perception on women’s employment in information technology-enabled service companies among the rural society is emphasised in this study. This paper focuses on the views among the rural public towards changing woman’s roles and responsibilities in the family beyond the roles as a mother or wife due to an increase in women’s employment in information technology-enabled services companies. The article tries to examine whether there is a change in the perception between males and females in the rural area towards women’s employment. Besides, the study tries to see whether the working woman’s contribution to family wellbeing is influenced by childcare, more earning by husband, household duties and good relationship with children. Eight hundred and eleven samples were collected from four different districts of two states in India. The statistical tools used for the study are T test, Anova, multiple regression and discriminant analysis. The demographic variables considered for this study includes age, gender and education. The regression analysis revealed that wellbeing of the family is related to woman’s involvement in taking care of children, involving in household activities and maintaining good relations with children. The discriminant analysis reveals that there is no difference between the genders regarding her employment. The mind set of women taking care of children and household activities still remain priority but their perception that husband’s earning should be more than wife and spending extra time outside for official purpose is not given significance. There is a positive change in the attitude of the rural society towards woman’s employment. Her involvement in childcare and household activities is for the wellbeing of the family and for the future generation. This positive outlook encourages more women to the workforce in rural areas.
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Saravanan, Palanisamy, Maram Srikanth, and Suhas M. Avabruth. "Compensation of top brass, corporate governance and performance of the Indian family firms – an empirical study." Social Responsibility Journal 13, no. 3 (August 7, 2017): 529–51. http://dx.doi.org/10.1108/srj-03-2016-0048.
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Purpose The objective of this study is to understand the linkages among executive compensation, corporate governance and performance of the Indian family and non-family firms. Further, the study also analyzes the level of shareholding pattern of the Indian family firms on their performance and the executive compensation. Design/methodology/approach The authors have collected panel data of the companies listed on the National Stock Exchange of India Limited. The data set consists of 284 companies (both family and non-family) for the period 2005–2014. The authors have made use of a dynamic panel data model with generalized method of moments (GMM) estimation to formulate the hypotheses and used fixed-effects regression model to check the robustness of our findings. Findings The authors find support for the agency theory, stewardship theory and resource dependence theory in the paper. Specifically, variables related to executive compensation, corporate governance (board size, proportion of independent directors on board, chief executive officers duality and other directorships held by the executive directors outside the company), firm performance (Tobin’s Q), leverage and shareholding pattern of the family are significant in this study. Practical implications The study has practical implications for all stakeholders of the family and non-family firms, especially in the emerging market economies. It can be used as a reference guide by various other stakeholders of the family firms, viz., customers, educators, tax authorities, government and society. Originality/value The authors confirm that their research is original and provides valuable insights on the Indian family firms. The authors study cross-holding of directorships, inter alia, in the Indian family business groups. As most of the previous studies in the Indian context ignored this important aspect, this study is unique in nature.
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Dr. Suresh Naik V., Kiranmayi V. ,. "Performance Evaluation of Health Insurance: Ways for Winning Confidence." Psychology and Education Journal 58, no. 1 (January 15, 2021): 3955–64. http://dx.doi.org/10.17762/pae.v58i1.1438.
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Health is a fundamental force that decides the overall quality of human life. The health of the population is a vital and essential issue for any country. The new National Health Policy of India (2017) emphasizes the growing burden of non- communicable diseases and corresponding growing expenditure. Indian Government announced the world's most massive health scheme, the Ayushman Bharat Yojana, in 2018, which is a significant step towards attaining universal health coverage in India. This scheme provides a cover of Rs.5 lakh per family per year for various medical procedures. Although India's Government is taking many such initiatives to improve public health, a lot more needs to be done to attain universal coverage. Out of pocket expenditure paid by individuals towards health care in India ranges at a high percentage over the years. Although health insurance premium has shown an increase over the years, there is no drop in this expenditure. This study shows the phenomenal growth achieved by health insurance, specifically after privatization, premium growth, and improvement in claims ratios. It is suggested that the insurance companies should modify the coverage of health insurance policies so that the uncovered expenses are reimbursed during hospitalization. Insurance companies also should shift their focus towards wellness instead of covering sickness to keep their businesses sustainable in the long run.
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Saggar, Ridhima, and Balwinder Singh. "Corporate governance and risk reporting: Indian evidence." Managerial Auditing Journal 32, no. 4/5 (April 4, 2017): 378–405. http://dx.doi.org/10.1108/maj-03-2016-1341.
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Purpose This study aims to measure the extent of voluntary risk disclosure and examine the relationship between corporate governance firm level quality in the form of board characteristics and ownership concentration’s impact on risk disclosure in the annual reports of Indian listed companies. Design/methodology/approach The method adopted in this study is automated content analysis, which is applied to a sample of 100 listed Indian non-financial companies to find out the extent of risk disclosure. Further, multiple linear regressions have been applied to find out the relationship between corporate governance firm level quality in the form of board characteristics, ownership concentration and risk disclosure. Findings The findings reveal that the total number of positive risk keywords surpasses negative risk keywords disclosure. The corporate governance mainsprings, namely, board size and gender diversity have a positively significant effect on risk disclosure, whereas ownership concentration in the hands of the largest shareholder insignificantly affects risk disclosure, but identity of the largest shareholder having ownership concentration negatively affects disclosure of risk information in the case of Indian promoter body corporate, foreign promoter body corporate and non-institutions in comparison to family ownership. Research limitations/implications This study relied on a set of 39 risk keywords for measuring the extent of risk disclosure. Further, it uses a sample of 100 companies to examine the effect of corporate governance on risk disclosure at one point of time. However, a longitudinal study can help in understanding risk disclosure adopted by Indian listed companies in a better manner. Practical implications The findings have implications for regulatory bodies such as the Securities and Exchange Board of India, which needs to strengthen corporate governance norms with respect to board characteristics and keep a check on ownership concentration for improving risk disclosure by companies. Originality/value To best of the authors’ knowledge, this study is a preliminary attempt linking two research lines in India, that is, corporate risk disclosure and corporate governance quality in the form of board characteristics and ownership concentration. The study identifies corporate governance firm level qualities which lead to divulgation of risk information by the companies pointing towards strengthening of regulatory regime in the country for improved corporate governance regulations adopted by listed companies.
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Majumdar, A. "CONVERGENCE IN CORPORATE GOVERNANCE: THE CASE OF CHINA AND INDIA." BRICS Law Journal 7, no. 1 (March 8, 2020): 59–90. http://dx.doi.org/10.21684/2412-2343-2020-7-1-59-90.
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China and India face similar challenges in maintaining their aggressive rates of economic growth. While both countries attained economic independence in the late 1940s, each followed a different path in terms of growth. China preferred to open up its economy to foreign direct investment much earlier and only in recent times has it turned towards domestic capital. India, on the other hand, began by attempting to develop local talent and shifted its focus to foreign participation in 1991. This paper examines the politicoeconomic background and the resultant corporate governance paths undertaken by each of these countries. These paths, while diverse, lead to a convergence. In particular, given the nature of concentrated shareholdings in Chinese and Indian companies, by the State in China and by family promoters in India, the second agency problem and the requisite protection of minority shareholders assume considerable importance in both jurisdictions. However, given the nature of corporate governance norms having been transplanted from advanced economies to emerging economies, this convergence may not be suitable or even desirable. This paper posits that emerging economies such as China and India ought to develop and implement corporate governance norms that are separate from those of advanced economies to combat the unique issues arising out of shareholding patterns at home.
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Naveena, L., and S. Venkatesh. "An Comparative Study of Pre and Post Health Insurance Schemes in Karnataka." Shanlax International Journal of Management 8, S1-Feb (February 26, 2021): 204–9. http://dx.doi.org/10.34293/management.v8is1-feb.3777.
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The health insurance schemes are very necessary to everyone in Indian country are with regards improve their life styles and which is including for very essential for every one for improving their health and some of strategies to improve the own insurance companies potential even insurance companies are majorly help to the employees their health and family members. Insurance Corporation is a sector of Health Insurance that has emerged as a major growth driver and as the most prominent segment in the expansion of insurance space. The study highlighted that health insurance and health insurance schemes are one of the largest Social Security Schemes of the world where no upper limit on medical expenditure has been fixed for beneficiaries. The study was made on the overview of health insurance Corporation of India and tries to bring out the banking details of provisions available to customer and persons and their dependents both in and banking facilities under the Employees of Karnataka state.
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Miras-Rodríguez, María, Domingo Martínez-Martínez, and Bernabé Escobar-Pérez. "Which Corporate Governance Mechanisms Drive CSR Disclosure Practices in Emerging Countries?" Sustainability 11, no. 1 (December 22, 2018): 61. http://dx.doi.org/10.3390/su11010061.
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Although several studies have analyzed the role that specific corporate governance mechanisms have on Corporate Social Responsibility (CSR) reporting practices, their findings have not been conclusive and the evidence from developing countries is scarce. The theoretical support for this relationship in the previous literature is found in Stakeholder, Agency, Legitimacy, and Good Management theories. Undoubtedly, as the institutional environment has an important impact on CSR reporting practices, it would be relevant for this field of research to analyze this relationship in companies from emerging countries. It is suggested for the sake of convenience to consider different levels of corporate governance mechanisms together due to the high interdependence among them. Consequently, the aim of this paper is to analyze whether different levels of corporate governance mechanisms (at the institutional, group, and firm level) are determinant factors of the CSR reporting practices in BRICS countries (Brazil, Russia, India, China, and South Africa). The final sample was composed of 281 companies. On the basis of our results, we conclude that institutional corporate governance mechanisms influence the company’s CSR reporting strategy and that both CSR disclosure practices analyzed are affected by group-level corporate governance mechanisms in companies from family-based societies. Our findings support the appropriateness of separately analyzing this issue in emerging countries.
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Thillai, Rajan A. "Soliton Technologies – financing growth in uncertain times." Emerald Emerging Markets Case Studies 2, no. 6 (August 13, 2012): 1–18. http://dx.doi.org/10.1108/20450621211275174.
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Subject area Venture capital and private equity. Study level/applicability This case is suitable for II MBA/Executive MBA (venture capital and private equity/entrepreneurship/business models/managing family business) courses. Case overview Soliton is a technology and software services company with operations in India and the USA providing machine vision products and virtual instrumentation services. Soliton was started by Ganesh Devaraj in 1998 after his return from the United States after higher studies. Ganesh hails from a business family in Coimbatore that had interests in the textile spinning sector. The family had been in the textile business since the early 1940s and had revenues of Rs 400 million and employed about 700 people. Ganesh, not wanting to continue in the traditional family business, ventured into the technology sector using his academic and professional experience. His family was supportive of his venture and funded his company for the first two years of operation and for scaling up operations. Ganesh is now evaluating various sources of raising additional capital at a time when there was general slowdown in the automobile sector as a result of the global financial crisis. Expected learning outcomes The goal of this case study is to illustrate the complexities that exist in financing growth of companies in uncertain times. This following are the expected learning outcomes: discuss and understand the nuances between different sources of early stage funding: personal wealth, family, and angels; compare and contrast the differences between family funding and venture funding; and highlight the benefits and limitations of family funding. Supplementary materials Teaching notes are available.
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Prof. Jyoti Samseriya, Dr Gayathri Band, Dr Neeta V. Sahh, CA (Dr) Manish N. Shah,. "Giving Opens The Way For Receiving!! ... A Microscopic View Into Selection Of Tea Brand In India." Psychology and Education Journal 57, no. 9 (January 5, 2021): 6066–76. http://dx.doi.org/10.17762/pae.v57i9.2667.
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Tea has played a role in almost all cultures and customs. The Indian Tea Industry is about 176 years old. Satisfying customers’ wishes is a challenge for many companies in the today’s rapidly changing and keenly competitive environment in today’s Tea industry. In this experiment with, seven product attributes of tea where each attribute has three performance levels have been designed for conjoint analysis. The first influencing factor is the preference of the type of tea where packaged tea has the highest utility as it captures the maximum of Tea market in India as compared to loose or tea bags which are mostly not preferred by the consumers. As consumers are very loyal towards the Tea brand which they purchase and hence we can see the most important criterion or influencing factor while selection of tea is the Brand name followed by the family opinion as traditionally the family believes to have a good taste of tea which should act a stimulant and psychological preference and family preference does matter when purchasing a tea. The pricing is the fourth important factor influencing the choice of tea. The most preferred attributes for tea are Variety of tea should be leaf with medium pricing where selection criterion of tea is good taste and brand name influences the consumer the highest and Tea should preferably be present at all General Store Outlets and preferred convenient packaging for consumers is Carton Boxes.
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Desai, Anjali, Rajita Singh, and Sudhanshu Bhatt. "Towards Career Sustainability: Issues of Women in India." International Journal of Science, Engineering and Management 9, no. 8 (August 11, 2022): 1–9. http://dx.doi.org/10.36647/ijsem/09.08.a001.
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This paper seeks to discuss what makes a sustainable career for a woman in India, how social structures can limit sustainable careers and how the process of socialisation and internalization of social role expectations impact career sustainability. It seeks to highlight ways in which women could have sustainable careers, also called professional growth. This study is based on secondary sources of data collated from a host of research papers and literature published on the subject.India’s statistics on gender equity reflect stark biases. The country’s female labour force participation (LFPR) rate is less than half the world average; Indian women earn only about 65% of what their male counterparts earn (compared to 77% world average). Only a minute fraction of listed companies has women leaders. What creates this skew? What factors influence how careers are shaped and sustained? Using data and findings from diverse sources, including seven India-specific papers, we explore the concept of career sustainability as it relates to Indian women. We examine the effect of social structures such as the primary family unit and the organisation as a gendered construct. We argue that these and other social structures, coupled with women’s internalization of their social role expectations are factors that directly impact the sustainability of women’s careers. Finally, we identify initiatives that can build positive social identities and can mitigate the gendered nature of organizations and society at large.
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BERTAUX, NANCY, and ELAINE CRABLE. "LEARNING ABOUT WOMEN. ECONOMIC DEVELOPMENT, ENTREPRENEURSHIP AND THE ENVIRONMENT IN INDIA: A CASE STUDY." Journal of Developmental Entrepreneurship 12, no. 04 (December 2007): 467–78. http://dx.doi.org/10.1142/s1084946707000757.
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On a recent semester-long stay in India, students from Xavier University (Cincinnati, Ohio) learned about a variety of social and economic development issues, with an emphasis on the role and status of women. This study describes and assesses the impact and effectiveness of their learning with a particular focus on their exposure to Meerut Seva Samaj (MSS), one economic development initiative concentrating on rural women. The Indian economy has recently witnessed an increase in entrepreneurship among women. Entrepreneurship often allows women to engage in home-based work so that they still can attend to their domestic duties, while also helping to financially support the family. Banks, companies, and NGOs (non-governmental organizations) are finding that offering micro-credit, or small loans, and other types of entrepreneurial assistance can help women start businesses. Meerut Seva Samaj provides a concrete example of how Indian women, especially in rural areas, can become successful entrepreneurs with the help of technology, training and other resources. MSS also assists local communities in the use of biogas, an environmentally friendly energy source that improves the environment and fertility of land in rural areas. The study places this service learning case study from India in the context of the literature on women, economic development, entrepreneurship and environmental issues.
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Gupta, Ruchi. "An empirical study of commerce students (undergraduate and postgraduate) for insurance industry in India." Asian Journal of Economics and Banking 5, no. 2 (April 6, 2021): 204–23. http://dx.doi.org/10.1108/ajeb-01-2021-0005.
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Purpose The purpose of this study is to find out the awareness, attitude and career preference of commerce students (undergraduate (UG) and post-graduate (PG)) for the insurance industry in India. Design/methodology/approach The data were collected from 800 commerce students (400 male students and 400 female students) through a structured questionnaire. The questionnaire had 18 items related to awareness, attitude and career preference for insurance. The reliability of the tool was assessed by Cronbach’s alpha. To establish the relationship between variables, cross-tabulation techniques that involved Chi-square tests were used. The conclusion was drawn based on probability values (p-value) taking the critical as 0.05 (Bivariate). The data was analyzed using SPSS. Findings The results revealed that commerce students-UG and PG were aware of the basics of insurance, irrespective of their gender and family income. The students have a positive attitude toward insurance, but lack awareness regarding career options in the insurance industry. Research limitations/implications This study included only UG and PG commerce students of Allahabad University and its constituent colleges, hence its findings cannot be generalized for the entire country. Practical implications This study can be beneficial to insurance companies in framing their policies as India has a huge young population. There is a need to make the students in higher education aware of the benefits of insurance to cover any unforeseen economic loss and also to make them aware of the career options in the insurance industry. Originality/value The present study bridges the gap between existing studies regarding awareness, attitude and career preference of students with gender and family income. To date, no study has been done to find the awareness and attitude of students toward the insurance industry, neither in terms of their becoming prospective customers nor in terms of career preference.
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Al Dahdah, Marine, and Rajiv K. Mishra. "Smart Cards for All: Digitalisation of Universal Health Coverage in India." Science, Technology and Society 25, no. 3 (April 26, 2020): 426–43. http://dx.doi.org/10.1177/0971721820912920.
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In less than ten years, India has launched colossal biometric databases. One among them is related to the first ‘free’ health coverage scheme offered by the government of India: the Rashtriya Swasthya Bima Yojna (RSBY). Based on a public–private partnership between government and private companies, RSBY national scheme was launched in 2008, as a first step towards universal health coverage in a country where households endorse 70% of health expenses. The first phase of RSBY offers to cover ₹30,000 ($600) of inpatient expenses per year for five members of a below poverty line household and is now piloted in several Indian States to include outpatient expenses and above poverty line families too. RSBY relies exclusively on a centralised digital artefact to function, made visible by the ‘RSBY Smart Card’, a chip enabled plastic card containing personal data of individual and their family counting and conditioning the granting of health services to them; thus, no smart card means no health coverage. Till date 120 million Indians have been registered in the RSBY database. This article analyses how health accessibility is crafted under the RSBY scheme by questioning two central dimensions of this data-driven digital health scheme: the smart card technology and the public–private partnership, whereas RSBY scheme promises health coverage for all, its digital infrastructures may complicate access to health services, and reveal new patterns of exclusion of individuals. Thus, we will detail how smartcards technologies and private providers condition access to health care in India.
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A, Panjavarnam, and Balachandran V. "Growth and the challenges of start- up entrepreneurs in India – an analysis." Journal of Management and Science 9, no. 1 (June 30, 2019): 16–30. http://dx.doi.org/10.26524/jms.2019.3.
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A startup is a young company that is just beginning to develop. Startups are usually small and initially financed and operated by a handful of founders or one individual. These companies offer a product or service. It is not currently being offered in a different place in the market. In the early stages, startup companies‟ expenses tend to exceed their revenues as they work on developing, testing and marketing their idea. As such, they often require financing. Startups maybe funded by traditional small business loans from banks or credit unions, by government sponsored Small Business Administration loans from local banks, or by grants from nonprofit organizations and state governments. Incubators can provide startups with both capital and advice, while friends and family may also provide loans or gifts. A startup that can prove its potential may be able to attract venture capital financing in exchange for giving up some control and a percentage of company ownership. Over 58 percent of the rural households depend on agriculture as their principal means of livelihood. The Indian food and grocery market is theworld‟s sixth largest, with retail contributing 70 percent of the sales. The Indian food processing industry accounts for 32 percent of the country‟s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.The online food delivery industry grew at 150 percent year on year with an estimated gross merchandise value of 300 million in 2016. The study focuses on empowerment of startups through innovation and design and to accelerate distribution of the startup movement.
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Iheme, Williams. "Remedying the defects in India's credit and insolvency frameworks with adapted solutions from the Anglo-American legal scholarships." Pravni zapisi 11, no. 2 (2020): 580–619. http://dx.doi.org/10.5937/pravzap0-28377.
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The law governing credit transactions in India is compartmentalized and concomitantly poses difficulties to contractual parties and access to credit: the overall effect of this is already being felt owing to the country's low rank on the 'getting credit' indicator of the World Bank's Ease of Doing Business Report 2020. The Insolvency and Bankruptcy Code 2016 (Code), being almost a mirror-image of the English Insolvency Act 1986, has some inherent defects that are incompatible with the local conditions vis-à-vis access to credit and business rescue. Some of these defects arguably emanate from the Code's unfair categorization of creditors into the 'operational' and 'financial' types, and the ensuing confusion as was witnessed in the Supreme Court's Home Buyers' case in 2019. Strangely, financial creditors enjoy some Code-given preferential treatments over operational creditors including the right to constitute committees of creditors in voting and confirming business rescue plans. The insolvency resolution process of the Code is incompatible with the fact that over 90% of the companies doing business in India are SMEs and family-owned. The crushing financial weight of insolvency resolution processes is foreseen to gradually cannibalize these SMEs and cause a sharp rise in the unemployment rate. The article diagnoses a number of defects in the credit and insolvency systems of India, and proposes transplantable solutions from the English system, the U.S. Chapter 11, and Article 9 of the Uniform Commercial Code.
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Gopalaswamy, Arun Kumar, and Saji K. Mathew. "Financing technology startups: an entrepreneur's dilemma." Emerald Emerging Markets Case Studies 2, no. 8 (October 17, 2012): 1–17. http://dx.doi.org/10.1108/20450621211311560.
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Subject area Entrepreneurship, finance, technology and innovation, general management. Study level/applicability This case is suitable for students in finance, entrepreneurship and general management. The case seeks to understand the challenges of funding in technology startups and how they vary from product to service areas. Case overview Availability of capital, short term and long term, is a major constraint faced by entrepreneurs. In India, in the technology sector, services companies have been able to innovate and grow whereas product-based companies that survived the challenges of funding have been scarce. Aluru Karthik Prasanth is presented in the case as a young entrepreneur with passion and drive to pursue the commercialization of an idea he developed during his undergraduate studies in engineering. Leaving behind the beaten paths ofMTech and employment, he decides to pursue MS entrepreneurship at IIT Madras. As he starts with his program, he analyses the challenges faced by previous technology start ups, Karthik has a dilemma – deciding whether to follow a product idea or change his plans to a technology service. Expected learning outcomes A detailed analysis of the case would help students address the following questions in entrepreneurial decision making: should an entrepreneur in technology in India pursue a product idea or service idea?. What are the pros and cons of each choice in financing? How can an entrepreneur pursue a product idea and minimize his/her risks? How does an entrepreneur's personal attributes influence his/her course? (e.g. family background, need for control) What are the challenges and opportunities in each kind of funding: debt, venture, angel, etc. in the Indian context? Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Gupta, Yuvika, and Samik Shome. "Social Media Advertisements and Buying Behaviour." International Journal of Online Marketing 10, no. 3 (July 2020): 48–61. http://dx.doi.org/10.4018/ijom.2020070104.
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Advertising patterns are making significant shifts towards social media from their traditional format. Social media has become a norm for the majority of companies due to progressive change in the mindset of consumers. In the current scenario, working women play an important role in the purchase decision of the family. Moreover, some studies revealed that in some cases working women solely make product purchases. According to the Pew Research, women (73%) lead over men (65%) in the use of social media. The purpose of this study is to identify the factors that are influencing the working women purchase behaviour. The paper witnessed that demographic variables such as age and income of working women do play a significant role in online purchase. The key contribution of this paper is to provide the corporate houses an assessment of the extent to which the working women in India are influenced by social media in their online buying behaviour.
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Lamba, Jonika, and Esha Jain. "e-RUPI: A Purpose Specific Digital Voucher." IARS' International Research Journal 11, no. 2 (August 29, 2021): 55–60. http://dx.doi.org/10.51611/iars.irj.v11i2.2021.174.
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e-RUPI is an advanced online resolution that has been launched by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, National Health Authority, and partner banks. It is just like a prepaid voucher that can be used by users to redeem an amount without a card, online payment application, or without accessing internet banking services. The present learning has explored the existing literature and aimed to discuss the merits and demerits of this emerging prepaid voucher, in the period of the COVID-19 pandemic. It has been found that the e-RUPI initiative of the Modi government will be fruitful for the beneficiaries as they will receive a direct benefit. It will be reliable and secure for both companies and customers. It suffers from ICT-related risks such as cyber fraud, hacking, lack of efficiency, and attitude of people towards adoption of this new resolution.
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Ciochetto, Lynne. "Advertising in Contemporary India's Rapidly Changing Media Environment." Media International Australia 133, no. 1 (November 2009): 120–29. http://dx.doi.org/10.1177/1329878x0913300116.
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The introduction of neo-liberal policies, the opening of the economy and the deregulation of the media stimulated a massive expansion in advertising in India in the early 1990s. Print advertising had been the dominant sector, but the proliferation of television channels stimulated the expansion of television advertising. By the end of the decade, the advertising industry was dominated by foreign companies, products and advertising agencies, but the strategies used had become increasingly ‘Indianised’ and customised to local audiences. The fracturing of the market through the proliferation of media choices meant advertising strategies were differentiated by product category, company ownership (foreign or local), media and target audience. Social and cultural changes have also had an impact on strategies: these include the expansion of the middle classes, challenges to the traditional extended family, changing roles of women in work and private life, and the advent of the internet and cell phones as new media with specific audiences.
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Anantharaman, R. N., Rajeswari K S, Ajitha A, and Jayanty K. "Occupational Stress and Demographic Characteristics among Information Technology Professionals." International Journal of Business and Management 13, no. 12 (November 14, 2018): 140. http://dx.doi.org/10.5539/ijbm.v13n12p140.
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Occupational stress among information system professionals is gaining more recognition because it may lead to high turnover and less productivity. The present research focuses on software development professionals to examine their occupational stress and demographic characteristics in India. A questionnaire was developed to identify the occupational stress among software development professionals (SDP) using dimensions such as age, average daily working hours, gender, training and nature of work. Data from 156 respondents working in information technology companies in Chennai and Bangalore was collected. It was found that those who were more than 30 years of age have stress due to work family interface. Employees working less than 10 hours daily experience more stress due to fear of obsolescence, individual team interaction, work culture, lack of family support and technical risk propensity. In terms of gender, men and women professionals do not differ in their occupational stress. However, employees who had computer training especially in software programming in addition to their engineering degree face more stress due to fear of obsolescence and technical risk propensity. Software development professionals whose nature of work is purely technical experience more stress because of fear of obsolescence than others. The results are discussed and based on these the relevant implications are suggested.
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Velychko, Lilia Olegovna, and Evgenia Alexandrovna Ermolenko. "YUZHNOYE`S POSITION IN WORLD PLANS FOR MOON EXPLORATION." Journal of Rocket-Space Technology 27, no. 4 (December 30, 2019): 131–45. http://dx.doi.org/10.15421/451919.
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The article discusses the lunar programs of leading countries of the world: EU, India, People’s Republic of China, South Korea, Israel, Russian Federation, Japan, USA, as well as possible direction of cooperation between Ukrainian cooperation and mentioned countries. The US lunar program is the most attractive. NASA invites private companies which can become Yuzhnoye State Design Office partners. Perspective payload delivery means into lunar orbit are proposed: Space Launch System, Falcon Heavy, Straship. Marketing strategy was developed to achieve economic efficiency of the space launch system operation project, designed for payloads injection into the lunar orbit (with Mayak launch vehicle family, developed by Yuzhnoye State Design Office, as an example) due to covering all possible segments of commercial, as well as government launch market. At the same time, comparison of price and performance characteristics of space transportation services into low Earth orbit is shown as of 2019. The prospective demand for Mayak launch vehicle family within the framework of the US state program for the development of the Moon was determined. According to the results of the marketing research, it can be concluded that with the price of about 3 000 US dollars for launching 1 kg of payload into low Earth orbit (from 70 to 330 million US dollars for launch), Mayak launch vehicle family have the advantageous position on the launch market into low Earth orbit and lunar orbit in comparison with the competitive positions of other ILVs in this market segment.
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Limbasiya, Nailesh Rameshbhai. "Independent Directors, Key to Good Governance." Think India 16, no. 3 (October 15, 2013): 20–23. http://dx.doi.org/10.26643/think-india.v16i3.7817.
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The collapse of high profile large corporations such as Satyam, Enron etc. while performing the governance practices has raised many issues regarding good governance mechanism. The independent directors are one of the important mechanisms for the good governance practices in an organisation. In India two-third of the companies are family owned and therefore presence of independent directors on the board is very important to protect the rights of minority investors and other stakeholders. Independent directors with independent thoughts and action may lead to a constructive value addition for the firm. The present paper discusses the importance of independent directors on the board. The paper also shows a glimpse of the current picture of corporate structure and corporate governance in India. Though the role of independent director is most important to detect and prevent the unethical practices still it fails to perform their roles in many cases. This paper identifies and explains the drivers on reasons, why independent directors still fail to perform their fiduciary roles in many cases. Finally the article concludes based on the functioning of the independent directors and challenges for having an implementable code of conduct for them. The diverse opinion of the corporate experts, government bodies, and industry apex bodies is the need of the hour to make one that is easy to implement.
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Divekar, Rajiv Gopalkrishna, Pradnya Vishwas Chitrao, and Pravin Kumar Bhoyar. "Millennium Company Ltd: overcoming tough times." Emerald Emerging Markets Case Studies 4, no. 5 (October 8, 2014): 1–5. http://dx.doi.org/10.1108/eemcs-03-2013-0024.
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Subject area Strategic marketing, Downturn, Optimal utilisation of minimal resources, Consolidating profitability, Focus shift from features to benefits and cost savings. Study level/applicability Management students who have knowledge of basic concepts of management discipline to derive the maximum benefit and understand the applicability; budding entrepreneurs; middle- and senior-level executives in an executive development program; people running family-owned businesses. Case overview In 2008-2009, the Indian manufacturing sector was facing stiff competition from China on account of the latter's ability to provide cheap labour and handle large volumes. The 2008-2009 economic down turn saw consumers cut down on their requirements with manufacturing companies getting fewer orders. Manufacturing companies therefore adopted the principle of optimal utilisation of minimal resources. Millennium Company Ltd (MCL) also succeeded in overcoming the 2008-2009 downturns through a shift in focus during the recession of 2009 from achieving pure revenue to consolidating its profitability. MCL is probably the only company in the world to have extensive expertise in both steam and control instrumentation. The dual expertise allows them to engineer industry-specific systems that focus on energy efficiency and utilities management for sectors as diverse as textiles, food processing, paper, power and chemicals etc. The company shifted its attention from features to benefits, cost savings, and profitability. MCL trained its people as to what to talk to whom. Today, MCL is a leader in India in process efficiency and energy conservation through technology tie-ups and focused investments in manufacturing and research. Expected learning outcomes The purpose of this case is to enable student managers to evaluate effectiveness of corporate strategies; make the student managers understand the resources–businesses–systems framework and the need for focused connection between these three through appropriate coordination and control mechanisms for a corporate strategy to deliver value; encourage students to apply their knowledge of Turnkey Projects, BCG/Porters/SWOT/Mackensys Model; encourage the students to research and find out how other companies in this field fared and what were the strategies adopted by them to overcome the recession and compete with MCL in a highly competitive market like that of India; and encourage student managers to go on field visits with the institute's help to similar organisations within the same city and if possible get live projects. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Prasad, Krishna, K. Sankaran, and Nandan Prabhu. "Relationship between gray directors and executive compensation in Indian firms." European Journal of Management and Business Economics 28, no. 3 (October 7, 2019): 239–65. http://dx.doi.org/10.1108/ejmbe-11-2017-0038.
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Purpose The purpose of this paper is to examine the empirical relationship between gray directors (non-executive non-independent directors) and executive compensation among companies listed in India’s National Stock Exchange (NSE). The paper also examines the possible interplay of relationships between controlling shareholder duality (controlling shareholder being the CEO), ownership category and executive compensation. Design/methodology/approach A sample of 438 firms listed in the NSE of India was studied using data spanning five financial years, 2012–2013 to 2016–2017. Findings Empirical evidence suggests that there is a positive association between the proportion of gray directors on the board and executive compensation. The sensitivity of executive compensation to gray directors is found to be higher among family controlled firms. This research has also found that CEOs who belong to controlling shareholder groups received higher pay than professional CEOs. The authors conjecture that these results suggest cronyism and may contribute to lower levels of corporate governance practices in the country. Research limitations/implications The hybrid board structure, which India has adopted with the desire to bring the best of Anglo Saxon and Japanese board philosophies, has paradoxically led to self-serving boards. Exploration of alternative thinking to bring about changes in the regulatory framework is, therefore, necessary. Originality/value Serious problems are identified with the philosophy behind board composition mandated by Listing Requirements for Indian firms with empirical evidence showing how the existing rules generate cronyism and unfairness to minority shareholders.
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Vohra, Jyoti, and Pavleen Soni. "How do Indian mothers use feeding practices with children?" Journal of Children's Services 11, no. 4 (December 19, 2016): 283–99. http://dx.doi.org/10.1108/jcs-02-2016-0004.
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Purpose The undesirable effects of TV advertisements and general parenting responsibility propel mothers to monitor and control the eating habits of children through meal time actions and feeding practices. The purpose of this paper is to identify feeding practices used by Indian mothers through the Comprehensive Feeding Practices Questionnaire (CFPQ) developed by Musher-Eizenman and Holub (2007) and to investigate differences in the use of feeding practices across demographic variables. Design/methodology/approach Using a cross-sectional design, a structured and pre-tested questionnaire was used to collect data from 473 mothers of children aged four to 11 years from Punjab (India). Data were analysed using exploratory factor analysis, confirmatory factor analysis (CFA) and ANOVA. Findings The present study confirms the validity and reliability of the nine-factor model through CFA with 28 items in the Indian context than original CFPQ. Further, significant differences exist in the responses of mothers for feeding practices followed with children across age and gender of child, mother’s education status and monthly family income. Practical implications Parents may understand the nature of feeding practices to mediate unhealthy food consumption habits of children. The government should formulate codes or regulations to sufficiently monitor food marketing activities directed at children. The food marketing companies should also act responsibly to protect well-being of children. Originality/value This piece of research is important as no such study (to the best of researchers’ knowledge) has already been conducted in India even though dietary patterns of children are transforming tremendously.
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Ransome, David R. "The Parliamentary Papers of Nicholas Ferrar, 1624." Camden Fifth Series 7 (July 1996): 3–104. http://dx.doi.org/10.1017/s0960116300000361.
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Nicholas Ferrar's fame in the twentieth century rests largely upon religious foundations – as a saint of the Church of England and as one of the moving spirits at Little Gidding – but in fact his historical importance is more than merely religious, and indeed religion did not dominate his life before 1625. Born in London in February 1593, the youngest but one of a family of six, Nicholas was named for his father, a highly successful Merchant Adventurer who was also a Master of the Skinners Company. Small, fair-haired, precocious and frail, Nicholas was always his mother's favourite, and it was she who largely influenced his development. At the age of seventeen he was a Fellow of Clare College, Cambridge, but soon after his twentieth birthday he left Cambridge for the sake of his health, spending the years 1613–17 on the continent, chiefly at Padua, where he studied medicine. On his return to England he did not resume his fellowship at Clare, but remained in London with his parents, attending to his now elderly father's business affairs which included membership of the East India and Virginia Companies – and acting as his executor upon his death in 1620.
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Gupta, Rakesh, and Ajay Pandit. "Ferns N Petals: Transforming an Unorganized Business into an Organized One." Asian Case Research Journal 16, no. 01 (June 2012): 155–81. http://dx.doi.org/10.1142/s0218927512500071.
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The economic reforms in India have not only changed consumption patterns but also the mindsets of people. This changing economic and social landscape has unleashed a plethora of opportunities and brought into existence companies in various sectors which were unheard of earlier. This case is about Ferns N Petals (FNP), which has emerged as the largest floral retail chain in India. When Vikas, founder of Ferns N Petals landed in Delhi in 1994 with US$110 (INRs 5,000) in his pocket, no one would have imagined that he would go on to establish the country's only branded floral retail chain. Whenever Vikas traveled to Delhi to meet his sweetheart Meeta, he found that the capital had no good florist. For someone who came from a family that dealt in flowers, this was the turning point which led to the launch of Ferns N Petal. The case moves on to discuss in detail the challenges faced by Vikas in setting up a nationwide floral retail chain and how he maximized the opportunity by adding new segments related to flowers and the move to get into the online flower selling mode when the internet was making inroads in India. The case winds up by highlighting his decision to enter into the food segment which is fraught with risks. The FNP case has been developed to highlight the existence of many entrepreneurial opportunities emerging in the changing socio-economic scenario in India. This case clearly illustrates that many unorganized sectors offer scope for professionalization and how an entrepreneur can tap these opportunities. FNP is a good example of how these opportunities can be tapped, thanks to the ambition, courage and risk-taking capabilities of Vikas Gutgutia. The case traces the journey of a start-up and the difficulties it faced at various stages and how these challenges are remarkably similar in any start-up. It highlights the need for modifying the existing business models and developing new ones to tap the emerging opportunities in an unorganized sector. The case goes on to highlight how the success of one venture many times can result in the belief that one can transform every opportunity in the unorganized sector which may lead to overstretching oneself.
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Mehra, Payal, and Catherine Nickerson. "Organizational communication and job satisfaction: what role do generational differences play?" International Journal of Organizational Analysis 27, no. 3 (July 8, 2019): 524–47. http://dx.doi.org/10.1108/ijoa-12-2017-1297.
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Purpose The purpose of this paper is to examine the influence of the generational category that managers in India belong to on their job satisfaction and on their satisfaction with organizational communication; the authors defined organizational communication as the communication that occurs in interactions between employees. The authors wanted to see whether there would be differences between the generations in the attitudes to and expectations of organizational communication, and whether this, in turn, would influence their job satisfaction. Design/methodology/approach A total of 400 managers working in public and private listed companies in India were surveyed using a questionnaire over the period of a year, from August 2016 to July 2017. This resulted in 334 responses. The questionnaire measured the respondents’ choice and comfort with communication media, their satisfaction with the communication at their workplace and the type of interactions that took place. It also measured the respondents’ job satisfaction. The study was inter-disciplinary in nature, in that it drew on several theories of communication, e.g. accommodation theory and media richness theory, alongside the findings from empirical studies that have looked specifically at intergenerational differences. Findings The authors found that organizational communication was positively related to job satisfaction, and also that generational category moderated the relationship between these two factors. In addition, the results show that Gen Y managers in particular were the least satisfied generation at work, and that they frequently used avoidance while communicating with older adults. The conclusion is that job satisfaction may be enhanced, by focusing on the development of a positive communication environment; in addition, employees who belong to different generations may define what constitutes a positive communication environment in very different ways. Originality/value Despite receiving some attention in other contexts, such as in the family, the impact of intergenerational differences in the workplace has not been widely investigated. A few studies do exist on the influence of generational differences on work outcomes and on attitudes and behaviors, but much still remains to be done. In addition, while there have been many studies on job satisfaction, as well as on levels of attrition in workplace settings, very few have looked specifically at non-Western contexts such as India. The present study attempts to contribute to this debate, by providing a comparison of the workplace communication preferences and experiences within multi-generational organizations in India.
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Jain, Parul. "Issues in Reforms of Union Taxes in India." Intertax 44, Issue 8/9 (August 1, 2016): 712–24. http://dx.doi.org/10.54648/taxi2016059.
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The correction of fiscal imbalances in India should focus on the root cause of disequilibrium – the government not being able to balance its consumption outlays with revenue receipts. Restructuring of public expenditure seems to be very difficult under the present circumstances. Hence, significant improvement will hinge increasingly on improvement in revenue collection through direct and indirect taxes. There is need for comprehensive reforms in direct and indirect taxes through decisive action in many crucial areas rather than marginal improvement on all fronts. Broadening of the tax base is necessary to ensure growth of revenue. In direct taxes, there is a need to analyse the extent to which taxpayers actually belong to the higher slabs than they reveal in their tax returns and non-filers should be brought into the tax net. In the case of central excise and service tax, there is need to build a strong mechanism to ensure filing of returns by all registered taxpayers. To improve tax collections, it would be desirable to ask firms and companies to pay tax in equal instalments and adopt ‘family’ as a unit of assessment. The exemption/threshold limit should not be raised from the present level and Indian tax system should have smooth progression The Indian tax system incorporates a number of tax preferences/incentives to promote different activities which result in huge tax expenditure in case of both direct and indirect taxes. Tax expenditures, despite their drawbacks, need to be retained in the Indian tax system. However, they should be well targeted and be linked to performances. There is also a need to check the problem of increasing tax avoidance and evasion through stricter imposition of penalties and following of vigorous prosecution policy. Efficient tax administration calls for building up of a professional cadre of administrators who may implement the tax system more equitably and efficiently. It is desirable that voluntary compliance be encouraged and non-compliance be penalized. There is need to minimize arrears of assessment and collection, pendency of appeals, issue quick refunds, and so on. The main challenge at the present juncture is to integrate the large number of Central and State taxes to address the problem of multiplicity of taxes. The introduction of the Goods and Service Tax would be a significant step in the field of indirect tax reform in India and pave the way for a national common market.
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Acharya, Anitha. "The factors behind working in virtual community." Journal of Global Operations and Strategic Sourcing 12, no. 2 (June 17, 2019): 246–67. http://dx.doi.org/10.1108/jgoss-03-2018-0011.
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Purpose In this paper, the prior research on virtual teams was reviewed to assess the state of the literature. The purpose of this paper is to determine why individuals prefer working in virtual teams (also termed liquid workers and part-time workers). Previous researchers have focussed on the benefits that organizations receive if they hire liquid workers, but to date, no research has been conducted to determine the perspective of these liquid workers. The various definitions of virtual teams are discussed and an integrative definition is proposed that suggests all teams may be defined in terms of their extent of virtualness. Design/methodology approach A systematic review of the literature on virtual teams was conducted. The data were collected from 12 informants. A thematic analysis was used to analyse the data. Findings Six main themes were identified, namely, pliability, opportunities, increased earnings, vigour, family and transportation. Research limitations/implications This study was conducted in a three-metropolitan city in India and warrants being extended to rural and international settings to gain additional insights and confirmation of the research findings. Practical implications It is suggested that organizations who recruit liquid workers will be in a position for substantial cost savings; this is because organizations usually make payment of liquid workers’ wages on an hourly basis. This will help the organizations to schedule the number of working hours depending on their needs. Originality/value The current study is novel as there is a paucity of research in identifying the factors behind working in the virtual community in India. This study presents the first research of its kind to the best knowledge of the author, and the findings will be valuable for companies who are looking for cost savings.
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Singh, Nidhi, Shalini Srivastava, and Neena Sinha. "Consumer preference and satisfaction of M-wallets: a study on North Indian consumers." International Journal of Bank Marketing 35, no. 6 (September 4, 2017): 944–65. http://dx.doi.org/10.1108/ijbm-06-2016-0086.
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Purpose The purpose of this paper is to test the conceptual model of consumers’ intention and satisfaction towards mobile wallets. This study uses the integrated UTAUT model which includes variables such as ease of use, trust, security, self-efficacy, etc., and an additional variable (hedonism) to test consumers’ behaviour in the context of mobile banking technologies. Regression analysis, ANOVA and descriptive analysis are used to test the relationship among several dimensions such as perceptions, preferences, satisfaction and usage rate of mobile wallets in North India. A sample of 204 North Indian consumers was taken to understand the consumers’ adoption behaviour towards mobile wallet. The study explains the significance of the proposed model and its effectiveness to understand the behaviour of North Indian consumers. The result shows a significant association between consumers’ perception, preference, usage and satisfaction. Security, trust and hedonism are few of the most influencing variables in the study. Demographic variables such as gender and age also influence consumer satisfaction and usage rate of mobile wallets in North India. The proposed model and results of the study bring valuable insights into researchers and practitioners in the context of usage of mobile wallets. Design/methodology/approach Various standardized scales were used in the present study. Statistical techniques like descriptive statistics, analysis of variance, t-test, χ2 and regression analysis were used to assess the data. The data were collected with three separate questionnaires on variables perception, preference, usage and satisfaction. Findings Findings of this study show a strong relation between customer’s perception, preference and satisfaction of mobile wallet users. The result also shows the impact of customer’s perception, satisfaction and preference on the usage rate of mobile wallets in India. The authors have collected responses from the various regions in south and North India. Research limitations/implications The first contribution of this study is that it shows a strong correlation between consumers’ perception, preferences and satisfaction. Various studies are available to understand the impact of perception on satisfaction (Samudra and Phadtare, 2012; Venkatesh and Davis, 2000, Thakur, 2013), but very few studies have integrated it with preference and mobile wallet usage. Moreover, no study is available on these variables specifically for North Indian consumers. This study is unique in the sense that it discuss the association of consumer’s perception with type of transactions they prefer to do in M-wallets. This paper also identify one more crucial factors, “hedonism” which is not discussed extensively in the literature. Practical implications The study has several implications to the mobile technology industry and the banking system to identify new strategies for mobile wallet usage. Factors like security, convenience and trust influence consumers’ intention. This indicates that industries and banks must verify users’ privacy norms and evaluate social trends to enhance user’s satisfaction and usage rate. Hedonism is determined as one of the significant variable to measure consumer’s satisfaction and usage tendency. Mobile technology providers should work on the appearances and design of the apps, and promote its convenience and benefits to increase its usage in North India. Based on the findings of this study, companies can also evaluate preferred wallet services for consumers, and factors affecting those services. This will help them to add more attractive services based on consumers’ feedback, and remove unwanted services. Social implications The study also stressed the impact of society and family/friends on mobile wallet’s usage. Customers learn new things from family and society and get influence with their choice and preferences. This will help institutions to understand various factors leads to mobile wallet usage and enhance the satisfaction level of customers. Originality/value Although various studies have been conducted on the perception of customers on various mobile payment systems, but this paper is the first of its kind to study customer’s perception about wallets and type of transactions; they prefer to do through mobile wallets. This paper also study the impact of mobile wallet usage and various factors affecting the usage rate. This paper also identified one crucial factor, “hedonism”, which is not discussed thoroughly in the literature, and its significance in North India.
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Singhania, Monica, and Shachi Prakash. "Volatility and cross correlations of stock markets in SAARC nations." South Asian Journal of Global Business Research 3, no. 2 (July 29, 2014): 154–69. http://dx.doi.org/10.1108/sajgbr-04-2012-0056.
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Purpose – The purpose of this paper is to examine cross-correlation in stock returns of SAARC countries, conditional and unconditional volatility of stock markets and to test efficient market hypothesis (EMH). Design/methodology/approach – Stock indices of India, Bangladesh, Sri Lanka and Pakistan are considered to serve as proxy for stock markets in SAARC countries. Data consist of daily closing price of stock indices from 2000 to 2011. Since preliminary testing indicated presence of serial autocorrelation and volatility clustering, family of GARCH models is selected. Findings – Results indicate presence of serial autocorrelation in stock market returns, implying dependence of current stock prices on stock prices of previous times and leads to rejection of EMH. Significant relationship between stock market returns and unconditional volatility indicates investors’ expectation of extra risk premium for exposing their portfolios to unexpected variations in stock markets. Cross-correlation revealed level of integration of South Asian economies with global market to be high. Research limitations/implications – Business cycles and other macroeconomic developments affect most companies and lead to unexplained relationships. The paper finds stock markets to exist at different levels of development as economic liberalization started at different points of time in SAARC countries. Practical implications – Correlation between stock indices of SAARC economies are found to be low which is in line with intra-regional trade being one of lowest as compared to other regional groups. Results point towards greater need for economic cooperation and integration between SAARC countries. Greater financial integration leads to development of markets and institutions, effective price discovery, higher savings and greater economic progress. Originality/value – The paper focuses on EMH and risk return relation for SAARC nations.