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In India, economic reforms adopted in 1991 in form of LPG (Liberalization-Privatization-Globalization) removed numerous barriers to grow and offered opportunities to improve productivity, particularly, for the manufacturing sector. But the rationale that manufacturing sector acted as main contributor to country's economic growth via GDP growth (called “engine of growth”) for a long time in India has been challenged now a day. The growing significance of the services sector across the world exhibits that at the present time, the services sector could become the new engine of economic growth in developing economies like India. The present study seeks to bring to light whether manufacturing is acting as an “engine of growth” at inter-state level in India or not and the cross section result indicates that potency of manufacturing growth and agricultural growth is gradually slowing down as a conforming part of economic growth and service sector is taking leading position in accelerating engine of growth in India.

We study the events that motivate CEOs to underinvest in R&D long-term projects (CEO myopia). Based on the existing literature in earnings management and agency theory, myopia is likely to become more problematic under five circumstances: when the CEO nears retirement (the CEO horizon problem), R&D projects have very long time horizons (the project horizon problem), the firm’s financial health is deteriorating (the cover-up problem), ownership structure is heavily weighted toward insider owners (minority owner oppression problem), and when the threat of hostile takeover increases (the entrenchment problem). We setup a dynamic simulation model in which rational CEOs maximize the total value of their bonus compensation over their tenure. Our findings related to the five circumstances are consistent with the extant literature. However, we found an unexpected stable, nonlinear (inverted U-shaped) relationship between CEO tenure and R&D investment. We discuss the theoretical implications of our model and offer suggestions for future research.

We extend theories of the firm to the entrepreneurial finance setting and argue that R&D-focused start-up firms will have a greater likelihood of financing themselves with equity rather than debt. We argue that mechanisms which reduce information asymmetry, including owner work experience and financier reputation, will increase the probability of funding with more debt. We also argue that start-ups that correctly align their financing mix to their R&D focus will perform better than firms that are misaligned. We study these ideas using a large nationally representative dataset on start-up firms in the United States.

The police in India do not meet the standards of legitimacy. This chapter examines a significant question – why in the largest democracy police are deemed illegitimate and untrustworthy?

The chapter draws from the literature about police role and functioning in India. Data from the Crime in India and other publications is utilized to assess the nature of policing and interactions with the citizens. Since the police derive their legitimacy from that of the government, the nature of politics and its impact upon the police organization is assessed from various reports and publications.

There is significant evidence to suggest that in India, citizens distrust the police and fear the officers while the police too remain mired in corruption, brutality, violating the rights of citizens. Two arguments are made to explain the reasons for the illegitimacy of police system: first, that the police model is incompatible with the plural and diverse democratic framework of the country. Second, that the political leaders have vitiated the democratic polity itself, preventing the growth of independent public institutions that could hold them accountable. All these have serious consequences for the health and vitality of the largest democracy in the world.

This chapter provides evidence about incompatibility of colonial policing with liberal democratic order and argues that political leadership is largely responsible for the illegitimacy of police and other public institutions.

This study empirically identifies three strategies for creating shareholder value for firms who venture into Emerging markets (EMs) in search of corporate growth and profitability.

To uncover these value creating strategies, we apply Cluster analysis techniques, analysis of variance as well as survey several qualitative case-studies of firms who have entered EMs worldwide.

Our findings demonstrate how firms can – and do – tap into the potential that EMs offer, despite the inherent riskiness of these markets and/or constraints on corporate resources. Statistically, no single shareholder value creating strategy is more (or less) remunerative than other strategies. Many equally profitable trajectories coexist vis-à-vis corporate growth in EMs.

Our findings are based on stock-markets’ expectations of firm performance; these expectations may not correspond to the actual future firm performance.

The principles we have isolated have a broad appeal because they identify variety of paths that facilitate shareholder value creation via participation in EMs. We expose the inner workings of these trajectories and illustrate particular firm-specific and location-specific combinations associated with profitable EM ventures.

This study seriously challenges the conventional view that value creation is a function of singular positive influences. On the contrary, this study establishes that value creation is multi-dimensional and submits that a more refined way to augment performance is to develop an ability to combine relevant firm-specific and location-specific factors so that they can, if needed, offset the impositions of each other.

Introduction: Blockchain is gaining attention in various industries and sectors. It is described as an emergent technology with immense possibilities similar to how the internet has revolutionised how businesses are currently carried out. Still, various sectors have either not adopted or are in a very nascent stage to adopt blockchain technology in their operations. The current research examines how blockchain can be used in the insurance sector. This industry was chosen as it is extremely relevant in today’s world and directly bears its economy.

Purpose: To determine the current and future path in which the insurance industry is moving about blockchain technology adoption and find synergy between blockchain technology and the insurance business.

Need for study: The insurance industry is highly relevant in today’s world and directly bears the country’s economy. Additionally, blockchain is an emergent technology with immense possibilities similar to how the internet has revolutionised how businesses are done. The current research looks at how blockchain can be used in the insurance business.

Methodology: A systematic literature review was conducted in this study by reviewing literature related to blockchain technology and the insurance sector. Science direct was used as a source of information. For this study, the literature review approach was chosen since it allows us to trace the growth of the subject matter and identify the patterns that have formed through time.

Findings: The study found that the insurance sector has recognised the latent benefits of blockchain technology and has begun to develop its usage in selected cases such as fraud prevention and risk assessment.

Practical implications: The current study can be referred to by academicians, marketers, industry people, and policymakers. The study encourages companies and academicians to further investigate the usage of blockchain in insurance.

Responsible management increasingly plays an important role in the sustainability of development initiatives in Africa. This chapter aims to explore indigenous pre-colonial African responsible management practices using ancient Egyptians and the Ndop Iron Industry of the eighteenth century in Cameroon. The management system of pre-colonial African societies was related to the production systems geared to the subsistence needs of the population. Management-related training was gender-based and sustainable. The modern understanding of responsible management is enlightened by investigating the past to see how the practice has evolved. The Egyptian pyramids were built to create an integrated human community. Previously man lived in small, isolated tribes or villages, but the increasing population required a different pattern of organisation and responsible management for optimisation of the Nile River’s resources to irrigate land for agriculture to feed the growing population. The Ndop Plain Iron Industry of the eighteenth century was well-equipped with smelting furnaces, fabricating assorted iron tools for use in agriculture, hunting and in households. The two case studies of historical evidence of indigenous African responsible management have been eroded with time due to disconnect with the past and the ravages of colonialism perpetuated by imperialist Europe. A paradigm shift to reconnect with the indigenous management practices in Africa is recommended as the way forward for responsible management on the continent.

This chapter examines the manner in which a disaster-affected population of artisanal fishers relocated inland to new sites following the Indian Ocean tsunami of 2004 experienced and adapted to problems of water quality, scarcity, sanitation, and drainage. While numerous studies of conflicts over water tend to focus on issues of equitable access (see Anand, 2011), this chapter seeks to link the problem to the contested priorities driving land and resource use and access. I show how inland relocation negatively impacted households, making it harder to sustain livelihoods due to distance from the coast, while imposing new costs including that of commodified and scarce water, locational deficiencies, and the structural weaknesses of new housing. Placed in a historical context, the problem of water can be seen as an aspect of the long-term problem of ecologically unequal exchange pitting local artisanal fisher communities against an aggressively state-supported commercial fishery sector. The continuity I seek to hone in on is the pattern of imposing costs on fishers while enabling the alienation and privatization of coastal resources. Taking water not only as a vital substance presenting questions of access and quality but also as a problem of drainage and effluence enables a fuller consideration of how the unequal distribution of costs on poorer populations became legitimized in the name of recovery. At the same time, the chapter also highlights the manner in which fishers refused to remain docile subjects of power and used their agency and autonomy in adapting to and sometimes refusing the terms of relocation.

The purpose of this chapter is to provide a viewpoint on the importance of liberalization for the development of service economy. This study of the authors results from the conducted research and experience obtained so far in the field of liberalization of the services market and its effects on Polish service enterprises. In addition, it contains practical insights on the liberalization, taking into consideration the benefits and barriers perceived by Polish service enterprises entering the markets of Central and Eastern Europe countries (CEEC) and for the economy. This chapter provides insight for the researchers and practitioners who are interested in the problematic of the liberalization of the services market in the context of managing a company operating in the CEEC area.