| February 2014 |
| Name | : | Editorial |
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| Name | : | Impact of Working Capital Management Practices of Automobile Firms on their Profitability: An Example of Mahindra & Mahindra Ltd. |
| Author | : | Dr. Gitika Mayank |
| Abstract | : |
Working capital indicates the money required for daily operations of a
business. Acorporate pays a lot of importance on planning its long term capital
needs. The sources and their cost are identified and then an optimum capital
structure is designed. Not only long term funds and their cost affect the
profitability of a firm but even working capital has an impact on profitability
because effective working capital management is about striking a tradeoff
between profitability and liquidity. With this background this paper attempts
to study the impact of working capital management at Mahindra and Mahindra
ltd, which is a capital intensive firm with significant investments in working
capital i.e. inventory, receivables and cash.
Keywords:
Working Capital, Profitability, Liquidity, Inventory, Receivables.
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| Name | : | Clustering Entrepreneurial Potential in Commerce Students of Banaras Hindu University: An Assessment |
| Author | : | Dr.S.C.Das,Pradip Ram |
| Abstract | : |
Objectives: The present study is concerned with to finding out (a) the
difference in entrepreneurial potential among UG and PG commerce
students; (b) entrepreneurial potential asymmetry among boys and girls
students; (c) the influences of select demographic variable on the
entrepreneurial potential; (d) finally, clustering entrepreneurial potential
in high, medium and low potential.
Research Design: The study is exploratory in nature based on structured
questionnaire with 210 respondents complying sampling adequacy in the ratio
of 2:1 among UG and PG commerce students of Banaras Hindu University
selected through proportionate stratified random sampling technique. The
structured questionnaire with ten point scales of Don Macke and Deb
Markley (June, 2003) focused on Motivation, Capacity- Skill, CapacityNetworking,
Family Supports and Demographic Factors have been used for
the study.
Findings: The study found that on the basis of community and family support
there is significant statistical difference among boys and girls. In UG & PG
students on the basis of motivation and capacity- networking/partnering,
identified significant statistical difference. Out of the three select
demographic variables only one factor i.e. income has impact on student's
capacity-skill.
Conclusions: The overall picture of the study shows that the boys and girls are
having symmetrical entrepreneurial capacity except family support. In UG&
PG students have some difference in some factors but more or less they are all
of equal entrepreneurial potential. Further, demographic variable have no
impact on the entrepreneur potential exception is income. Lastly, it has been
observed there is presence of heterogeneity in composite entrepreneurial
potential score in commerce students.
Practical Implications: Identification of the entrepreneurial potential of any
individual in the earlier level (stage) will help in shaping their future and
building up their potential in a scientific way so that they could succeed in their
business. Identifying entrepreneurial potential means more starts up and rapid
economic growth resulting unemployment solution.
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| Name | : | Nonfinancial Information Disclosure and Company Characteristics: A Study on Listed Pharmaceutical and Chemical Companies of Bangladesh |
| Author | : | Saleh Mohammed Mashehdul Islam |
| Abstract | : |
The purpose of this study is to find out the important company characteristics
that can affect disclosing non-financial information by the company. The
study demonstrates the current scenario of disclosing non-financial
information by sample companies i.e. 22 listed pharmaceutical and chemical
companies in Bangladesh. It reports the results of the association between
company specific characteristics and non-financial information disclosure of
the sample companies. It also shows the results of an investigation for the
extent of affecting company characteristics on disclosing non-financial
information by Bangladeshi companies. The finding of the research indicates
that the enhanced use of non-financial information is effectively assessed by
evaluating two company characteristics i.e. size and age as significant in
explaining the level of non-financial information disclosure. The important
characteristics are useful in making effective investment decision by the
investors.
Keywords:
Nonfinancial information disclosure; Company characteristics;
Pharmaceutical and chemical companies
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| Name | : | Attitude – Value Construct: A Review of Green Buying Behaviour |
| Abstract | : |
Green consumption habits are forming a part of lifestyle of humans. These
consumption patterns either are intentional consumption behaviours or
societal burdens. Ecologically conscious consumers are self actualized that
they would act in a manner that not only satisfy their needs but also needs of
others (society). Consumption behaviour is guided by various attitudinal and
perceptual transformations that an individual goes through before the final
consumption. Such that from the review it can be said that green purchase
behaviour is direct outcome of consumer's attitude. Environmental
knowledge, values/attitude plays a significant role in explaining ecologically
friendly behaviour. Also as revealed from the review subjective product
knowledge works as moderating variable between perceived behaviour and
purchase intent, whereas attention to social comparison information (ATSCI)
moderates relation between attitude and purchase intention. The purpose of
this review is to explore the relationship between green attitude and its
behavioural implication, the value orientation (individualistic/collectivistic)
and social conscious consumption intentions that an individual develops. This
theoretical paper aims to study the attitude-value-behaviour patterns of green
consumers. Importance and Scope for future research are discussed.
Keywords:
Environmental Consciousness, Green Perception, Green Consumer
Behaviour, Individualism, Collectivism.
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| Author | : | Rajendra Kumar,P.J.Philip,Chetna Sharma |
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| Name | : | Comparative Study of Corporate Governance Disclosure practices adopted by Listed Companies in Manufacturing and Software sectors in India |
| Author | : | Prof. Rajyalakshmi,Dr. Laila Memdani |
| Abstract | : |
The article discusses the importance of Corporate Governance disclosure in
enhancing firm value. It has been observed that even though the disclosures
are made mandatory, there is a large variation in the quality of corporate
governance disclosure practices adopted by companies listed in different
countries. Empirical research done earlier has also proved that good corporate
governance practices followed enhances the firm value. There is large
variation in disclosure practices across industries and across companies listed
in different countries. The article does a comparative analysis of disclosures
across companies listed in India in Manufacturing and Software sectors. It has
been found that software sector being more advanced an modern, they are
scoring better in their disclosure scores as well.
Keywords:
Investor Protection, Corporate Governance Disclosures, Governance Scoring
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| Name | : | Understanding adoption of electronic G2C service: An extension to Technology Adoption Model |
| Author | : | Shubham Goswami |
| Abstract | : |
Successive governments have recognized e-Governance as an excellent
opportunity for improve quality of government services to people with
opportunities of providing equitable access to all sections of society. The
increasing investment on e-Government services also raises concern towards
citizen adoption and usage of online government services. Along with
technology acceptance theories, citizen trust is proposed to be an important
catalyst of e-Government adoption. The present study examines the
relationship of perceived risk and its facets within the technology acceptance
model (TAM) within the tax e-filing context. This paper proposes a conceptual
model to further understand the role of perceived risk in influencing consumer
behaviour throughout the adoption process. The model will serve as a useful
guideline for strategies development in promoting e-government services,
particularly the tax e-filing service. The study also proposes ways in which
governments can increase citizen trust and thus encourage the adoption of this
new and potentially significant mode of government service.
Keywords:
Perceived Risk, Trust, Technology Acceptance Model, Tax E-filing
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| Name | : | Impact of Mergers & Acquisitions on Surviving Firm's Financial Performance: A Study of Jet Airways Ltd |
| Author | : | Prasad V. Daddikar,Dr. Arifur Rehman H. Shaikh |
| Abstract | : |
Mergers and Acquisitions are important corporate strategy actions that aid the
firm in external growth and provide it competitive advantage. In today's
globalized economy, mergers and acquisitions (M&A) are being increasingly
used world over, for improving competitiveness of companies through
gaining greater market share, broadening the portfolio to reduce business risk,
for entering new markets and geographies, and capitalizing on economies of
scale etc. This paper has focused on the performance of JETAirways after the
consolidation of Airline sector in year 2007-08. The main objective of this
paper is to analyze whether the JET Airways has achieved financial
performance efficiency during the post merger & acquisition period
specifically in the areas of profitability, leverage, liquidity, and capital market
standards. Paired sample t-test has been employed to determine the
significance differences in financial performance standards two year before
and two year after the merger activity. In general, Airline Companies merger in
India does not bring significance difference on the financial performance after
the merger. The finding of this study shows that there is no improvement in
surviving Company's return on equity, net profit margin, interest coverage,
earning per share and dividend per share post-merger & acquisition.
Keywords:
Mergers and Acquisitions, Profitability, Leverage, Liquidity, Capital Markets
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| Name | : | Econometric analysis of Foreign Institutional Investors NSE and BSE |
| Author | : | Yogendra Singh Rajavat,Dr. Amitabh Joshi |
| Abstract | : |
This paper is attempt to study the relationship between Dependent variables
(BSE and FII) and Independent Variable (NSE). In this paper the author
attempt to explain the behavior of BSE and FII with reference to NSE.
Bombay stock exchange is one of the oldest stock exchanges. The National
Stock Exchange (NSE) is stock exchange located at Mumbai, India. It is the
largest in India by daily turnover and number of trades, for both equities and
derivative trading. The study was done by taking two year Day wise data of
BSE, NSE and FII was collected for a period of two years i.e. from 01 October
2011 to 01 October 2013. Regression analysis was performed with the help of
E views and it was observed that the data are not serially correlated and it was
Homoscedastic. The results showed that NSE is regressed with BSE and FII.
FII and BSE do have a joint significant impact on NSE.
Keywords:
FII, Stock exchanges, Regression, BSE, NSE
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| Name | : | A Scale for Measuring Organizational Citizenship Behavior in Manufacturing Sector |
| Author | : | Dr. Vivek Sharma,Dr. Sangeeta Jain |
| Abstract | : |
Last decades of 20th century have seen increasing research in the area of
beneficial non task behavior of employees. Concepts like organizational
citizenship behavior, contextual performance, pro social behavior, extra role
behavior, etc. have been developed by researchers from time to time.
Despite a good work done by researchers a scale on OCB for manufacturing
sector specifically framed for medium scale industries is lacking. The study
aims to fill this gap.
The research design involved three broad stages: item generation, scale
development and assessment of reliability and validity. Middle and top level
managers (260) of several manufacturing organizations participated in data
collection. Four factors governing OCB have been identified. The paper
provides implications for researchers and practitioners.
Keywords:
Organizational Citizenship Behavior, Altruism, Compliance, Sportsmanship,
Loyalty
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| Name | : | An Investigation on Shoppers' Buying Behaviour Towards Apparel Products in Bangalore City |
| Author | : | Syed Irfan Shafi,Dr. C. Madhavaiah |
| Abstract | : |
This study explores the relationship between elementswhich affect consumer
buying behaviour for apparel products in Bangalore city. In order to do so
questionnaires were distributed to respondents who presently living in
Bangalore city and are regular buyer of apparel products. The total sample size
consists of 90 respondents. Data were collected by author himself,
convenience sampling method was used for data collection,after assembled
data it is analysed in SPSS 16.0. Descriptive statistics was used to analysis the
demographics and Chi-square testwere used to analyse theresearch objective.
The result of this study offersinsights and evidence about the relationship
between the variables which impact consumer buying behaviour for apparel
products. Finally it is concluded in the present study that there is significant
relationship between reference group and purchase intention also promotion,
Store attributes, product attributes, Income of the respondent and occupation
have positive significant relation between consumer buying behaviour.
Keywords:
Apparel, Buying Behaviour, consumer, Purchase Intention.
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| Name | : | Relative Efficiency Analysis of Selected Life Insurers in India using Data Envelopment Analysis |
| Author | : | Jayanta Kumar Nandi |
| Abstract | : |
To measure the relative performance efficiency of the selected life insurance
companies in India individually, year wise, sector wise and as a whole, a linear
programming non parametric technique of Data Envelopment Analysis
(DEA) has been used in this study. DEA is typically used to measure the
technical efficiency (TE) between 0 to 1 ranges. This study utilizes two inputs
and two outputs, namely, commission paid and operating expenses as well as
premium and net benefit respectively. This study is focused upon top 13 life
insurance companies of India including 1 public sector and remaining 12
private sector covering a period of 10 years from 2002-03 to 2011-12. Since
this study attempts to maximise output, so output oriented DEA is used. The
results of the study shows that overall life insurers carrying life insurance
business at an average technical efficiency of 82.6%, pure technical efficiency
of 87.5% and scale efficiency of 94.7%. On the other hand individually and
sector wise performance analysis, LIC (Life Insurance Corporation of India)
performs better as compared to others.
Keywords:
Efficiency, DEA, Technical Efficiency, Pure Technical Efficiency, Scale
Efficiency. JELClassification: G22, G23.
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| Name | : | Customer post-purchase perceived service satisfaction for Hero two wheelers in Cuddalore district, Tamil Nadu |
| Author | : | T. Frank Sunil Justus,B. Vaishnavi,M. Gnanasundari |
| Abstract | : |
Consumers tend to perceive the quality of a service on the basis of a variety of
informational cues that they associate with the product that act either
individually or in composite. The purpose of this paper was to find out how the
existing customers of Hero motors perceive their service experience they
receive through their dealership. It is observed that age, gender and income
levels have a serious impact on the service perception of respondents. The
research revealed that the customers' service expectations are met and
surpassed and the existing customers' in general have a very positive attitude
towards their company dealers and technicians. This study helps the company
to discover and learn more about their customers' opinions and perceptions.
Future research can be carried across comparing the bands of competitors as
also on a pan India basis that will help the company to still fine tune the service
demand.
Keywords:
Customer Service satisfaction, Hero two wheelers, Cuddalore
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| Name | : | CORPORATE SNAPSHOT-WORLD February 2014 |
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| Name | : | ECONOMIC UPDATE GLOBAL & INDIAN February 2014 |
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| Name | : | Indian Economy at A Glance |
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