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The purpose of this paper is twofold, first to examine the investment-cash flow sensitivity in fixed and working capital investments and second to determine the role played by working capital in smoothing fixed investment. The study is based on secondary financial data of 254 Indian manufacturing firms obtained from CAPITALINE database, pertaining to a period of 10 years. This study employs two-step...
Critical success factors (CSFs) are the enablers to address the successful implementation of sustainable supply chain management (SSCM) practices in organizations. This study identifies and consolidates various relevant factors to develop the SSCM constructs conducive to supply chains in the Indian steel sector. A comprehensive framework of sustainability measurement has been developed through successive...
Understanding the behavior of corporate credit spread is of paramount importance to understand and manage risk in fixed income securities. This study examines the determinants of corporate credit spread in Indian bond market. By adopting a panel data approach, the study estimates a fixed-effects regression equation to analyze the determinants of corporate credit spread in Indian bond market. The variables...
The paper presents a modified visual clustering method for patients visiting diagnostic units (DUs) using self-organizing map approach. The clustering of patients in homogenous groups helps healthcare managers in efficient scheduling of patients in each homogenous group such that their waiting time can be minimized. The grouping of patients would also help in enhancing coordination among diagnostic...
The case study is based on Patanjali Ayurved Limited, the biggest disruptive force in the fast-moving consumer goods (FMCG) space of India. The organization has achieved an astounding growth of 100% during FY2016-17 with a gross revenue of Rs 100 billion, whereas its competitors, both the multinational and homegrown firms, have struggled to maintain a double digit growth. It has become a FMCG giant...
These are exciting times for telecommunications in India. On the one hand, we have the entry of one of the largest business houses in India into the cellular mobile services market on a large scale, leading to increased competition as well as mergers and acquisitions. On the other, we see exciting new technologies being unveiled and we stand at a point in time where technologies such as internet of...
This paper delineates the changes in India’s trade policy regime in the larger context of India’s changing development strategy. What started as protection during “planning for industrialization” in an economy with binding foreign exchange constraint in the 1950s evolved to a relatively open economy with lesser barriers to trade. The process of change in the trade sector has been sequential over a...
The basic objective of this study is to analyse the role of farm size and diversification in determining farmer’s total income from both farm and non-farm sources. Using data from NSS 70th Round Situation Assessment Survey, we estimate a log-linear regression model that relates farmer’s income to farm size, on-farm and off-farm diversification, and various other control factors representing farm,...
This paper discusses the role of services in India’s economy. Through analyzing global data on the relationship between services, manufacturing, and GDP, we show that the relationship of services to economic growth is complex and usually involves a consideration of the manufacturing sector. In India’s case, somewhat unusually, services and manufacturing grew independently of each other for many years...
Fiscal and monetary policies are two pillars of macroeconomic policy, for both accelerating growth and ensuring stability. Their relative roles and the nature of interface have been of great interest to both academics and policy makers. This paper presents a practitioner’s perspective of how the interface evolved in India. The pre-reform status of the interface, from 1950 to 1991, is briefly recalled...
The paper analyses important issues in Indian public finance in the context of India’s economic development. Given the predominance of working population and with children in the age group 0–14 constituting over 40% of the population, government finance has a critical role not only in protecting life and property but also in creating physical infrastructure to expand economic activities to generate...
In this paper, we present evidence in favour of the overconfidence bias and its persistence in pre-, during and post-global recession sub-samples in China and India. The Chinese and Indian investors follow past market returns for the longer duration and trade excessively, which is posited as overconfidence bias. The global recession is facilitated as a structural break to examine the endurance of...
Understanding the quality of a firm’s earnings is essential to developing confidence in its financial reports and making appropriate investment decisions. Generally, a high focus on a firm’s bottom line leads investors to overlook important information contained in financial accruals. Rising accruals along with a rise in earnings may indicate a poor quality of firm’s earnings. The current study is...
This article empirically tests whether the ethical beliefs of young consumers in India are impacted by attitude toward money, religiosity, and spiritual well-being. Data from a sample survey of 426 young consumers in India (240 male and 186 female) were used to test the hypotheses using moderated regression analysis. Results indicate that ethical beliefs of young consumers were not affected by either...
Rising portfolio flows from foreign institutional investors (FIIs) into the Indian equity and debt market in the recent years have invoked extensive debate among media and academics. The present study lends support to this growing debate through a three-dimensional wavelet analysis that identifies the time, frequency and persistence of the co-movements between FII trading activity and India’s NIFTY...
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