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The preset study is an attempt to measure the influence of different financial ratios selected from different categories like liquidity, activity, and leverage on the profitability of the selected companies. For the purpose of the study, three main producers of steel in India—Steel Authority of India, Rashtriya Ispat Nigam Limited and Tata Steel Limited—are selected for a period of 20 years. Initially,...
The purpose of the present paper is to understand general equilibrium implications of international trade and globalization on social welfare and environmental emission caused on account of energy consumption by production sectors and domestic households. We applied computable general equilibrium (CGE) modelling as our relevant methodology following Shoven and Whalley (J Econ Lit XXII:1007–1051, 1984)...
Business process redesign is a critical aspect of change management which lies at the heart of organizational transformation. Managing change is never easy and Indian Income Tax Department (ITD) sought to remove redundancy for taxpayers as well as ITD by setting up Centralized Processing Center (CPC) Bangalore. Use of technology as a strategic tool to revolutionize the filing and processing of tax...
We examine the influence of the comparable P/E (selected on different parameters, i.e., industry, revenue characteristics, book value, and return on net worth) on IPO pricing. The sample comprises of 120 IPOs issued in India during the period 2002–2007. We find that the comparable P/E chosen on the basis of industry alone shows poor estimation power. However, significant improvement in the estimation...
This paper explores the spillover effects, both direct and indirect, of foreign direct investment (FDI) inflow on human capital development in India and also whether the latter causes the former or not. The results showed that there is only weak unidirectional causality from FDI to human capital development defined as percentage change in annual student enrolment. However, human capital development...
The purpose of the research was to understand the inherent questions related to supply risk and its management. The task was to investigate how organizations discover and assess the existing supply risk to establish the extent of losses, the likelihood of potential losses, and the significance of potential losses. Case studies of six purchasing organizations were conducted to investigate how those...
The paper investigates the causal nexus among financial development, social development, and economic growth for 15 Asian countries for the period 1961–2011. Using the Granger causality test, both at the individual country and at the panel settings, the results suggest that (1) financial development and social development generally lead to economic growth; (2) the Granger causality from financial...
Customer loyalty has become a major concern for retail stores across the globe. A loyal customer is a source of competitive advantage through repeat purchase and positive word of mouth. India is on the verge of a retail revolution with the government planning to allow the entry of foreign retail giants to set up shops in India. The specific objective of this research was to develop an empirical model...
Foreign direct investment (FDI) inflows to the developing countries have increased with a greater pace in the 1990s accounting for about 46.1 % of global FDI inflows in the year 2010. Similar trends have also been visualized in India where FDI has expanded rapidly following the economic reforms initiated in the early 1990s. These were directed towards increased liberalization, privatization and deregulation...
This paper investigates the impact of regime shifts on the persistence and long memory characteristics of volatility from the vantage point of modeling volatility in the PIGS economies (Portugal, Italy, Greece, and Spain). We apply the AIT ICSS algorithm to identify the points of sudden changes in volatility and incorporate these sudden changes in the GARCH class of models (GARCH and FIGARCH models)...
This paper examines the presence of herd behavior in Indian stock market in extreme market conditions using data from the National Stock Exchange. The study used the measures suggested by Christie and Huang (Financial Anal J 51:31–37, 1995) and Chang et al. (J Bank Finance 24:1651–1679, 2000) based on cross-sectional standard deviation and cross-sectional absolute deviation, respectively. Empirical...
Tax levied in India by the Government of India comprises two categories—direct tax and indirect tax. As a proportion of gross tax revenue, direct taxes have been accounting for over half of the total since 2007–2008. Corporation Tax is the highest contributor to direct taxes in the country. The focus of this article is to trace the origin of corporation tax in the country and to examine its growth...
In this paper the authors employ the Aristotelian virtue ethics framework of character development and habitual cultivation of courage to analyse the character of Santiago, the protagonist of Ernest Hemingway’s novel The Old Man and the Sea. This analysis is an attempt to reposition Santiago as a character who exhibits unflinching adherence to his vocational code of ethics in the execution of his...
This study analyses the price discovery aspect of futures markets. Data on spot prices and near month futures prices of two non-precious metals, one highly traded, i.e. copper and other lowly traded, i.e. aluminium, on Multi Commodity Exchange of India Limited from January 2006 to December 2011 is analysed. Vector Error Correction Model (VECM) based on cointegration technique is applied. The study...
Research on multisensory nature of consumption has highlighted importance of smell, taste, and touch during product evaluation and subsequent purchase decisions. However, there are very few studies in marketing which have examined role of touch in shopping. This paper builds the argument for conducting research on role of touch during shopping in Indian context and provides some methodological contribution...
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