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The study aims to investigate the impact of International Financial Reporting Standards (IFRS)-converged standards (Indian Accounting Standards (INAS)) on the accounting quality of Indian firms. The phased manner approach of implementing INAS provides us a unique setting to investigate the issue in India.

The study used difference-in-difference (DiD) methodology, where the accounting quality is compared between test firms and benchmark firms during the pre-and post-INAS adoption period. Accounting quality is operationalized through four different constructs, namely, earnings smoothing, discretionary accruals, earnings timeliness and value relevance of earnings.

The findings deduced from the empirical results demonstrate that accounting quality has been significantly reduced after the adoption of INAS. In particular, results show that the degree of earnings smoothing, and the magnitude of discretionary accruals have been increased among test firms in the post-adoption year. Besides, findings provide evidence that timely recognition of losses and value relevance of earnings has been reduced for test firms relative to benchmark firms after the adoption of INAS.

The results suggest that the mere adoption of high-quality standards does not ensure higher accounting quality in countries with a weaker enforcement mechanism. Hence, stringent enforcement mechanisms are needed to ensure full compliance with accounting standards. This study serves as a case study for other emerging countries that are in the process of IFRS convergence and make them aware of the unintended consequences of IFRS adoption.

Indian authorities implemented INAS in a phased manner that provides a unique setting to use DiD methodology. DiD helps to control the impact of concurrent economic shocks, while examining the impact of the particular regulatory shock. Besides, this is the first attempt to investigate the impact of INAS on the accounting quality of Indian firms.

Traditionally, statistical time series methods like moving average (MA), auto‐regression (AR), or combinations of them are used for forecasting sales. Since these models predict future sales only on the basis of previous sales, they fail in an environment where the sales are more influenced by exogenous variables such as size, price, color, climatic data, effect of media, price changes or campaigns. Although, a linear regression model can take these variables into account its approximation function is restricted to be linear. Soft computing methods such as fuzzy logic, artificial neural networks (ANNs), and genetic algorithms offer an alternative taking into account both endogenous and exogenous variables and allowing arbitrary non‐linear approximation functions derived (learned) directly from the data. In this paper, two approaches have been investigated for forecasting women's apparel sales, statistical time series modeling, and modeling using ANNs. Four years' sales data (1997‐2000) were used as backcast data in the model and a forecast was made for 2 months of the year 2000. The performance of the models was tested by comparing one of the goodness‐of‐fit statistics, R², and also by comparing actual sales with the forecasted sales of different types of garments. On an average, an R² of 0.75 and 0.90 was found for single seasonal exponential smoothing and Winters' three parameter model, respectively. The model based on ANN gave a higher R² averaging 0.92. Although, R² for ANN model was higher than that of statistical models, correlations between actual and forecasted were lower than those found with Winters' three parameter model.

Internet security is a pervasive concern for all companies. However, developing the business case to support investments in IT security has been particularly challenging because of difficulties in precisely quantifying the economic impact of a breach. Previous studies have attempted to quantify the magnitude of losses resulting from a breach in IT security, but reliance on self‐reported company data has resulted in widely varying estimates of limited credibility. Employing an event study methodology, this study offers an alternative approach and more rigorous evaluation of breaches in IT security. This attempt has revealed several new perspectives concerning the market reaction to IT security breaches. A final component of the study is the extension of the analysis to incorporate eSecurity vendors and a fuller exploration of market reactions before and after the denial of service attacks of February 2000. The key takeaway for corporate IT decision makers is that IT security breaches are extremely costly, and that the stock market has already factored in some level of optimal IT security investment by companies.

This paper looks at the research to date on the future of broadly granted stock options (options granted to at least half the full-time employees of a company). In the U.S., granting options broadly became popular in the late 1990s, but has lost some of its appeal in the wake of stock market declines, accounting changes, and increased shareholder concerns about dilution. The data indicate a significant minority of companies will change their plans, but a substantial majority will keep them. The data also indicate changes in accounting rules will not affect stock prices and that broadly granted options are better for corporate performance than narrowly granted options.

The purpose of the paper is to empirically test the overconfidence hypothesis at Bombay Stock Exchange (BSE).

The study applies bivariate vector autoregression to perform the impulse-response analysis and EGARCH models to understand whether there is self-attribution bias and overconfidence behavior among the investors.

The study shows the empirical evidence in support of overconfidence hypothesis. The results show that the overconfident investors overreact to private information and underreact to the public information. Based on EGARCH specifications, it is observed that self-attribution bias, conditioned by right forecasts, increases investors’ overconfidence and the trading volume. Finally, the analysis of the relation between return volatility and trading volume shows that the excessive trading of overconfident investors makes a contribution to the observed excessive volatility.

The study focused on self-attribution and overconfidence biases using monthly data. Further studies can be encouraged to test the proposed hypotheses on daily data and also other behavioral biases.

Insights from the study suggest that the investors should perform a post-analysis of each investment so that they become aware of past behavioral mistakes and stop continuing the same. This might help investors to minimize the negative impact of self-attribution and overconfidence on their expected utility.

To the best of the authors’ knowledge, this is the first study to examine the investors’ overconfidence behavior at market-level data in BSE, India.

Board meeting was in full swing as an important announcement had been made by Manish Jain, MD FinMen Advisors Pvt. Ltd. ‘We need to get 5,000 clients by 2023’. Management board members look at each other in wonder as they have only 500 clients in 2018. ‘That's a herculean task’, says a board member, ‘Besides, the clients’ fees are reducing in our business'. Manish interrupts to suggest that it is precisely the reason they want to enhance their client base. But the board members were still not convinced. Their questions revolved around whether they are equipped enough in terms of resources and infrastructure to reach to the number suggested by Manish. There were issues in the processes and systems of the company, there were issues in employees taking onus of leading certain verticals in the company, there were no branding exercise in terms of increasing awareness about the company. On the whole, in order to reach 5,000 clients, a total revamp of processes, systems and training employees needed to be given huge emphasis. But does the company have money for revamping all these issues? ‘I don't care’, says Manish, ‘Any client in any industry looking for credit ratings should be our client’. As Manish moves out of the board room, he says to himself that he was well aware of the facts questioned by the board members. But as a person ready to take up challenge and enjoy the perils of it, Manish was not ready to reconsider any of the points raised by the members. He thought whatever has to be done, has to be done to achieve targets set by him. However, sitting in his office and thinking about the future, Manish was still on the same dilemmic question as any employee in his company: how does he achieve the figure of 5,000 clients by 2023?

The case “Corporate Governance Failure at Ricoh India: Rebuilding Lost Trust” discusses the series of events post disclosure of falsification of the accounts and violation of accounting principles, leading to a loss of INR 11.23bn for the company, eroding over 75 per cent of its market cap (Financial Express, 2016). The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. The case highlights the responsibility of the board of directors, audit committee and external auditors and discusses the changes required in the corporate governance structure necessary to ensure that such incidents do not take place. The case also delves into the classic dilemma of degree of control that needs to be exercised by the parent over its subsidiaries and freedom of independence given to the subsidiary board, which is a constant challenge all multinationals face. Such a dilemma often leads to the challenge of creating appropriate corporate governance structures for numerous subsidiaries.

The case is intended for MBA courses on corporate governance, business ethics and also for the strategic management courses in the context of multinational corporations. The case can be used to develop an understanding of the essential of corporate governance with special focus on the role of the board of directors, audit committee and external auditors. The case highlights the consequences and cost of poor corporate governance. The case can also be used for highlighting governance challenges in the parent subsidiary relationship for multinational corporations. The case can be used for executive training purposes on corporate governance and leadership with special focus on business ethics.

This case presents the challenges faced by the newly appointed Chairman Noboru Akahane of Ricoh India. In July 2016, Ricoh India, the Indian arm of Japanese firm Ricoh, admitted that the company’s accounts had been falsified and accounting principles violated, leading to a loss of INR 11.23 bn for the financial year 2016. The minority shareholders were agitating against the board of directors of Ricoh India and were also holding the parent company responsible for not safeguarding their interest. Over a period of 18 months, Ricoh India had been in the eye of a storm that involved delayed reporting of financials, auditor red flags regarding accounting irregularities, a forensic audit, suspension of top officials and a police complaint lodged by Ricoh India against its own officials. Akahane needed to ensure continuity of Ricoh India’s business and also act quickly and decisively to manage the crisis and ensure that these incidents did not recur in the future.

The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. More specifically, the case addresses the following objectives: provide an overview of corporate governance structure; highlight the role of board of directors, audit committee and external auditors; appreciate the rationale behind mandatory auditor rotation; appreciate the consequences of poor corporate structure; explore the interrelationship between sustainability reporting and transparency in financial disclosures of a corporation; understand management and governance of subsidiaries by multinational companies; and understand the response to a crisis situation.

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CSS 11: Strategy.

This study aims to cover the overall gamut of rapid prototyping processes and biomaterials used for the fabrication of occlusal splints in a comprehensive manner and elucidate the characteristics of the materials, which are essential in determining their clinical efficacy when exposed to oral surroundings.

A collective analysis of published articles covering the use of rapid prototyping technologies in the fabrication of occlusal splints, including manufacturing workflow description and essential properties (mechanical- and thermal-based) evaluation of biocompatible splinting materials, was performed.

Without advances in rapid prototyping processes and materials engineering, occlusal splints would tend to underperform clinically due to biomechanical limitations.

Three-dimensional printing can improve the process capabilities for commercial customization of biomechanically efficient occlusal splints.

Rapid technological advancement in dentistry with the extensive utilization of rapid prototyping processes, intra-oral scanners and novel biomaterial seems to be the potential breakthrough in the fabrication of customized occlusal splints which have endorsed occlusal splint therapy (OST) as a cornerstone of orthodontic treatment.

This study aims to demonstrate digital banking’s influence on customers’ evaluation of service experience and develop a framework identifying the most significant variables of digital banking that influence the financial performance of banks.

This structured review of literature, guided with the preferred reporting items for systematic reviews and meta-analyses framework, takes a digital banking perspective to identify 88 articles published between 2001 and 2021, examining distinct aspects of digital banking and their impact on financial performance.

Customer experience (CE) is determined by functional clues (functional quality, trust and convenience), mechanic clues (website attributes, website design, perceived usability) and humanic clues (customer complaint handling). The study is furthered to combine CE with the service profit chain model. This study also fills the gap to understand the use of “gamification” in technology-driven banking services to enhance CE. Finally, an integrative framework is proposed to link technology-related factors (digital banking clues and gamification), customer-related factors (CE, customer satisfaction and customer loyalty) and performance-related factors (financial performance).

The study conceptualises a “total” CE framework that banks can use to enhance their online presence. Banking service providers could also analyse their financial results based on digital banking’s impact on customers. Besides, banks can use this framework to strategically place “game-like features” in their digital platforms.

This study attempts to significantly contribute to the digital marketing literature related to CE with banks. It is one of the first studies to determine gamification explicitly in banking literature.