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The purpose of this paper was to examine the long-run causal relations between share price and dividend in the Indian market.

Panel vector error correction model is estimated to examine the long-run causal relations between share price and dividend. Prior to this, panel unit root tests and panel cointegration tests are carried out to test the unit root properties of the data and test for the existence of long-run cointegrating relationship between the variables, respectively.

The results of empirical investigation reveal that there exists bi-directional long-run causality between share price and dividends.

For the chosen sample, data on share price are available only for limited years. This limits the time dimension of the sample. Hence, in the future, the analysis can be extended to cover longer time series.

The interplay between share prices and dividends needs to be given due consideration by firms while framing their policies. A change in dividend policy would have an effect on the market value of the firm; hence, firms need to frame dividend policy in such a way that it would enhance their market value. Similarly, investors need to take into consideration the influence of share prices and dividends on each other. While making investment decisions, they need to consider the dividend history of shares, as better dividends would lead to better share prices.

To the best of the authors' knowledge, this study is the first attempt in the Indian market to examine the long-run causal relations between share price and dividend. The results of this study would be helpful to the investors in taking wise investment decisions. It would also enable firms in formulating appropriate dividend policies.

High‐secure hospital patients often have complex presentations that are marked by co‐morbidity, violence, histories of poor concordance with oral medication, and treatment resistance. The ability to give a long‐acting medication with a low propensity for extra pyramidal side effects is of potential value to clinicians treating these patients. Risperidone Long‐acting Injection (RLAI) is the first long‐acting atypical antipsychotic medication and may be potentially useful in this population. This paper aims to investigate this issue.

This was a retrospective, naturalistic study to investigate the use and effectiveness, using hard outcome measures, of RLAI in the four UK high‐secure psychiatric hospitals. Hospital pharmacy databases at Ashworth, Broadmoor, Carstairs and Rampton hospitals were used to identify all patients who had been prescribed RLAI. Anonymised data were then obtained from the pharmacy databases and case notes which were then pooled.

A total of 159 patients were prescribed RLAI, most of whom had schizophrenia. The mean length of treatment with RLAI was 65 weeks (range two to 260 weeks) and the mean maximum dose was 43.2 mg every two weeks (range 25‐75 mg every two weeks). No serious adverse effects were reported. In total, 42 per cent (67) patients responded to RLAI in as much as that they either remained on it in the long‐term or were discharged to conditions of lower security whilst taking it. As there was no control group, it is not possible to determine if RLAI was a significant factor in such discharges to conditions of lower security. Of those patients who failed to respond to RLAI, 44 per cent were subsequently treated with clozapine.

This pragmatic multi‐centre study of a small but complex patient group demonstrated that RLAI was effective in 42 per cent of patients and was well‐tolerated.

The purpose of this paper is to develop a systematic strategic approach to handle corrective maintenance onto the failures/breakdowns of construction equipment. For the maintenance crew/team, a breakdown code management is proposed, which will provide focused and unambiguous approach to manage any kind of breakdowns in construction equipments.

The past breakdown records of a construction organization in the UAE are considered for analysis. From the failure data, through cause effect analysis (CEA) tools, the components and the breakdown codes namely breakdown main codes (BMC) and breakdown sub-codes (BSC) are formulated. With Pareto analysis, the critical codes are identified and validated through failure modes and effects analyses (FMEA) tools for the critical effect on the affected components. From this identified BSC's further closer failure identification codes namely breakdown symptom codes (BSyC) and breakdown reason codes (BRC) are identified through fault tree analysis (FTA) tools. The approach to modified breakdown maintenance management (MB2M) with breakdown maintenance protocol (BMP) is envisaged.

The study was conducted on four different types of heavy lifting/earth moving/material handling system of equipment and further focused with two earth moving equipment namely dumpers and wheel loaders. Failure analysis is performed and the failure ratio and the component contribution to the failures are identified. Based on the information, the preliminary codes namely BMC and BSC are identified through CEA tools and the BMC and BSC are identified to find the most contributing codes to the maximum number of failures through Pareto analysis. Further the critical sub-codes are further verified through FMEA tools on the severity levels of the sub components due to these codes. The FTA methods are used to identify the closer reasoning and relations of these codes and the further codes namely BSyC and BRC are identified which are the exact cause of the failures. The management of breakdowns is further proposed through MB2M which includes BMP which provides all resources for the breakdowns.

The failure data collected are only pertaining to the Middle East region and applicable to similar regions for similar plant mix in construction companies. The sample equipment is only part representative of the construction equipment. A more robust model can be suggested in the future covering all aspects and for other regions as well.

The proposed methodology and model approach is highly adaptable to similar industries operating in the Middle East countries.

Many authors have studied the preventive maintenance models and procedures and proposals have been proposed. On the breakdown maintenance management of construction equipment, very few studies have been proposed mostly on the cost analysis. This model attempts to provide a code management solution to manage the unpredictable failures in construction equipment through failure data analysis on a construction organization.

Finance and accounting (FA) offshore outsourcing is a growing trend involving a relocation of business processes to Asia but only few studies focus on understanding the issues that underlie the relocation of FA services. This paper aims to provide understanding of transaction costs economics (TCE) issues in FA offshore outsourcing using a case study of the Malaysia outsourcing industry which is growing and experiencing significant change.

This study uses a qualitative case study approach. Interviews cover several foreign firms, which are based in Malaysia and involved in FA offshore outsourcing services worldwide. Interviews also include related regulatory bodies in Malaysia.

Using TCE and management control theoretical framework, findings indicate issues and challenges faced by the firms and the need for contract management skills to mitigate the issues.

This study is limited to a broad discussion of FA offshore outsourcing, TCE and contract management but it could be a basis for future studies on specific issues of managing attrition in FA offshore outsourcing. This study contributes to prior works in TCE and FA offshore outsourcing by establishing controls to minimise costs at contact, contract and control stage. Specifically, this study emphasises contract management such as negotiating contract and using long‐term contractual arrangement.

This study not only identifies TCE issues in offshore FA outsourcing, but also provides suggestions for minimising transaction costs. For example, firms should consider the type of transaction costs involved and plan for appropriate contract management to mitigate the costs.

There is no study yet that discusses in‐depth the issues of TCE in FA offshore outsourcing especially in Malaysia and the need for contract management in mitigating such issues.

The purpose of this paper is to empirically test the relationship between the empowering structure and the employees’ innovative behavior and the role of psychological empowerment in mediating this link.

Structural equation modeling was used to analyze data from 401 female primary school teachers in India. Prior to the main study, the scales were tested on a sample of 288 teachers. While psychological empowerment and structural empowerment were based on the self-reporting by the teachers, the innovative behavior of the teacher was assessed by two to three colleagues for each teacher.

The results confirmed that structural empowerment leads to innovative behavior and psychological empowerment and partially mediates the relationship between structural empowerment and innovative behavior.

Promising ideas die down because of lack of proper resource support and a free flow of information exchange despite employees’ willingness to carry out innovative tasks. Psychological empowerment affects creative intention in the workplace and can play a critical role for employees at their workplace.

In the context of development at the teacher and school levels, it is imperative to address both the psyche of the individual and the existing structure in schools.

This study makes two critical contributions. One, it emphasizes the importance of structural empowerment in ensuring innovative behavior of employees. Two, it also brings forward the importance of psychological empowerment in the relationship between structural empowerment and innovative behavior.

The purpose of this paper is to provide understanding on the process of accounting outsourcing turnback from the client's perspective. The aim is to understand the issues faced by clients during turnback process, and provide recommendations to resolve them.

This study adopts a qualitative interpretive case study approach. Data were collected based on documentation, archival records, direct observation, and interviews to allow for triangulation.

This study provides empirical evidence of accounting outsourcing turnback process. Some of the issues faced by clients include lack of management support, limited financial and human resources, and uncooperative vendors.

Theoretically, this study extends Elliot's model by providing empirical evidence on process, identifying issues, and discussing recommendations on accounting outsourcing turnback. The limitation is the use of a single case study of a small company in Malaysia.

Practically, this study enhances understanding on accounting outsourcing turnback process and issues. The recommendations provided can serve as guidelines for clients who are considering outsourcing turnback as a strategic move.

There has been limited research in the area of accounting outsourcing focusing on turnback process. This study contributes to the field of accounting outsourcing by describing an accounting turnback process and issues faced by clients. The study recommends communication, financial support, top management support, back‐up exit plan, and vendor management throughout the turnback period. Finally, gradual reduction of accounting outsourced works rather than immediate termination is favored to reduce the risk in accounting outsourcing turnback.

The purpose of this paper is to examine the likely determinants of the demand for official international reserves (hereafter reserves) for India and China in the long run in a basic buffer stock model. The paper also examines the role of domestic money market disequilibrium in the short-run demand for official reserves for both the countries in a dynamic synthesis model.

The study used quarterly data for the time period 1993:Q1–2015:Q4. The long-run model is being estimated by following the Frenkel–Jovanovic (1981) buffer stock model and includes the determinants such as transaction motive variable (GDP or Imports), opportunity cost variable (domestic interest rate), precautionary motive variable (volatility of reserves) and exchange rate. The study also examined the role of domestic money market disequilibrium in addition to the above variables in the short-run reserve demand model. The money market disequilibrium term is expected to be negative and significant in the short run. The study employed autoregressive distributed lag bound testing approach to co-integration and unrestricted error-correction model (UECM) approach developed by Pesaran et al. (2001) for estimating the long-run and short-run models, respectively.

The co-integration test suggests the existence of long-run relationship between international reserves and its determinants. In the long run, all the variables are statistically significant with expected sign, except domestic interest rate variable for China. It is also found that, the money market disequilibrium term in the short run is negative and significant which validates that an excessive money demand (supply) induces an inflow (outflow) of international reserves for both India and China with a lag of four quarters. The recursive residual tests (CUSUM and CUSUMSQ) confirm the stability of both long-run and short-run reserve demand models.

The findings and policy implications of this study may be useful for the policy makers of the similar emerging economies for designing money and currency policies.

This paper is a comparative study which systematically analyzed the reserve demand behavior of the two emerging economies India and China. The study integrates the domestic money market with the international reserve demand behavior for these two economies.

Generally, in computational thermofluid dynamics, the thermophysical properties of fluids (e.g. viscosity and thermal conductivity) are considered as constant. However, in many applications, the variability of these properties plays a significant role in modifying transport characteristics while the temperature difference in the boundary layer is notable. These include drag reduction in heavy oil transport systems, petroleum purification and coating manufacturing. The purpose of this study is to develop, a comprehensive mathematical model, motivated by the last of these applications, to explore the impact of variable viscosity and variable thermal conductivity characteristics in magnetohydrodynamic non-Newtonian nanofluid enrobing boundary layer flow over a horizontal circular cylinder in the presence of cross-diffusion (Soret and Dufour effects) and appreciable thermal radiative heat transfer under a static radial magnetic field.

The Williamson pseudoplastic model is deployed for rheology of the nanofluid. Buongiorno’s two-component model is used for nanoscale effects. The dimensionless nonlinear partial differential equations have been solved by using an implicit finite difference Keller box scheme. Extensive validation with earlier studies in the absence of nanoscale and variable property effects is included.

The influence of notable parameters such as Weissenberg number, variable viscosity, variable thermal conductivity, Soret and Dufour numbers on heat, mass and momentum characteristics are scrutinized and visualized via graphs and tables.

Buongiorno (two-phase) nanofluid model is used to express the momentum, energy and concentration equations with the following assumptions. The laminar, steady, incompressible, free convective flow of Williamson nanofluid is considered. The body force is implemented in the momentum equation. The induced magnetic field strength is smaller than the external magnetic field and hence it is neglected. The Soret and Dufour effects are taken into consideration.

The variable viscosity and thermal conductivity are considered to investigate the fluid characteristic of Williamson nanofluid because of viscosity and thermal conductivity have a prime role in many industries such as petroleum refinement, food and beverages, petrochemical, coating manufacturing, power and environment.

This fluid model displays exact rheological characteristics of bio-fluids and industrial fluids, for instance, blood, polymer melts/solutions, nail polish, paint, ketchup and whipped cream.

The outcomes disclose that the Williamson nanofluid velocity declines by enhancing the Lorentz hydromagnetic force in the radial direction. Thermal and nanoparticle concentration boundary layer thickness is enhanced with greater streamwise coordinate values. An increase in Dufour number or a decrease in Soret number slightly enhances the nanofluid temperature and thickens the thermal boundary layer. Flow deceleration is induced with greater viscosity parameter. Nanofluid temperature is elevated with greater Weissenberg number and thermophoresis nanoscale parameter.

The purpose of this paper is to generalize the traditional risk evaluation methods and to specify a multi-level risk evaluation framework, in order to prepare customized risk evaluation and to enable effectively integrating the elements of risk evaluation.

A real case study of an electric motor manufacturing company is presented to illustrate the advantages of this new framework compared to the traditional and fuzzy failure mode and effect analysis (FMEA) approaches.

The essence of the proposed total risk evaluation framework (TREF) is its flexible approach that enables the effective integration of firms’ individual requirements by developing tailor-made organizational risk evaluation.

Increasing product/service complexity has led to increasingly complex yet unique organizational operations; as a result, their risk evaluation is a very challenging task. Distinct structures, characteristics and processes within and between organizations require a flexible yet robust approach of evaluating risks efficiently. Most recent risk evaluation approaches are considered to be inadequate due to the lack of flexibility and an inappropriate structure for addressing the unique organizational demands and contextual factors. To address this challenge effectively, taking a crucial step toward customization of risk evaluation.