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Article
Publication date: 15 October 2020

Sunaina Kanojia, Deepti Singh and Ashutosh Goswami

Herd behavior has been studied herein and tested based on primary respondents from Indian markets.

Abstract

Purpose

Herd behavior has been studied herein and tested based on primary respondents from Indian markets.

Design/methodology/approach

The paper expounds the empirical evidence by applying the cross-sectional absolute deviation method and reporting on herd behavior among decision-makers who are engaged in trading in the Indian stock market. Further, the study attempts to analyze the market-wide herding in the Indian stock market using 2230 daily, 470 weekly and 108 monthly observations of Nifty 50 stock returns for a period of nine years from April 1, 2009 to March 31, 2018 during the normal market conditions, extreme market conditions and in both increasing and decreasing market conditions.

Findings

In a span of a decade witnessing different market cycles, the authors’ results exhibit that there is no evidence of herding in any market condition in Indian stock market primarily due to the dominance of institutional investors and secondly because of low market participation by individual investors.

Originality/value

The results reveal that there is no impact of herd behavior on the stock returns in the Indian equity market during the normal market conditions. It highlights that the participation of individuals who are more prone to herding is more evident for short-run investments, contrary to long-term holdings.

Details

Review of Behavioral Finance, vol. 14 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 20 April 2023

Nayanjyoti Goswami, Ashutosh Bishnu Murti and Rohit Dwivedi

This paper aims to examine the factors that lead to the failure of startups in India and proposes a ‘Four Dimensional (4D) Strategic Framework’ to drive success.

Abstract

Purpose

This paper aims to examine the factors that lead to the failure of startups in India and proposes a ‘Four Dimensional (4D) Strategic Framework’ to drive success.

Design/methodology/approach

This study is exploratory and uses a narrative analysis methodology to analyse the accounts of key startup stakeholders – founders, investors, former employees and consumers; to identify their failure factors. A conveniently selected sample of 165 startups was studied to understand better the reasons for their failure within a thematic framework developed from David Feinleib’s (2012) handbook “Why Startups Fail”.

Findings

Results indicate that a dearth of capital or running out of money and inadequate sales and marketing strategy, which leads businesses to fall behind rivals and lose money on each transaction, are the most common factors for startup failure in India.

Originality/value

“Startups” are substantial for emerging economies like India because they fuel technological innovation and economic progress and provide for the modern workforce’s needs and aspirations. However, they seem to be typically unprofitable, with a modest probability of survival. Subsisting studies mainly focus primarily on success factors and very few on why startups fail, with significant disagreement on an appropriate methodology. To the best of the authors’ knowledge, this is the first study that analyses failure factors of Indian startups using narrative analysis of its key stakeholders. It aims to aid the conception of profitable entrepreneurship by reducing the failure frequency in the startup and small business ecology.

Details

Indian Growth and Development Review, vol. 16 no. 2
Type: Research Article
ISSN: 1753-8254

Keywords

Open Access
Article
Publication date: 24 August 2020

Giuseppe Festa, Matteo Rossi, Ashutosh Kolte and Luca Marinelli

This research investigates the top five pharmaceutical companies in India to determine whether their financial structures are sound and if they face the risk of bankruptcy…

6141

Abstract

Purpose

This research investigates the top five pharmaceutical companies in India to determine whether their financial structures are sound and if they face the risk of bankruptcy, highlighting the potential contribution of intellectual capital (IC) to financial stability.

Design/methodology/approach

The analysis outlines operating ratios, profitability ratios, possibility of bankruptcy (through Z-scores) and attractiveness of the financial structure (through the F-score), with consequent focus on (IC).

Findings

The financial structure of the selected companies seems stable. Changes in the Indian pharmaceutical scenario, above all, regarding the patent system, will force the companies to consider the impact of IC carefully.

Practical implications

Indian pharmaceutical companies need sustainability and development, with increasing focus on patent issues. To enhance innovation capabilities and overcome international competition, they should redesign their business orientation towards IC, mainly when impacting patents.

Originality/value

Using established approaches for predicting potential bankruptcy, this study focuses on the financial performance of top Indian pharmaceutical companies. IC can support financial stability, and this study provides further perspectives for managing their financial structure, both statically and dynamically.

Details

Journal of Intellectual Capital, vol. 22 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 26 April 2022

Sayee Manohar Krishnamurthy and Krishna Venkitachalam

The purpose of this research is to portray the historical evolution of retailing from 1980 to 2020. The study considers India as the domain as it is one of the fastest growing…

Abstract

Purpose

The purpose of this research is to portray the historical evolution of retailing from 1980 to 2020. The study considers India as the domain as it is one of the fastest growing markets, and the retail growth is anticipated to reach more than one trillion dollars within this decade.

Design/methodology/approach

This paper captures the historical growth trajectory of retailing from the pre-online era to the online era and highlights how the retail environment has become modernized and sophisticated in the process in India.

Findings

The study traces the journey of retail from 1980 to the multi-billion-dollar sector it had become by 2020 in India. Furthermore, the article provides an overview of how the different retail forms and players in the Indian retail sector have been shaping the industry over the last four decades. During this period, there has been a transformational change in the format of Indian retailing. The Indian consumers' shopping mindset moved from physical in the 1980s to online, and now “Phygital” (Physical and Digital) in 2020s has become an omni-channel platform in Indian retail.

Originality/value

This paper aims to present a viewpoint of the evolutions of retailing from the unorganized to the organized form and from the physical to the online form over the last 40 years in the Indian retail sector landscape.

Details

Journal of Strategy and Management, vol. 16 no. 1
Type: Research Article
ISSN: 1755-425X

Keywords

Abstract

Details

Review of Marketing Research
Type: Book
ISBN: 978-0-85724-727-8

Article
Publication date: 7 November 2023

Sayana Basu

In light of the COVID-19 pandemic's economic effects, this paper focuses on how home-based women artisans running their family businesses plan their operations to function in the…

Abstract

Purpose

In light of the COVID-19 pandemic's economic effects, this paper focuses on how home-based women artisans running their family businesses plan their operations to function in the “new normal” environment. The paper emphasises the adaptability and reorientation of business strategies displayed by women entrepreneurs in response to the changing work environment. The paper argues that the women's sense of agency after years of running the family business enables them to bargain and offer passive resistance to the family's power, with the latter aiming to curtail their entrepreneurial gains as the men return to their homes after losing their jobs with the onset of the pandemic.

Design/methodology/approach

The research draws from a qualitative study that was conducted employing field surveys and in-depth interviews with the women entrepreneurs in four important handloom clusters in Nadia, West Bengal (India) in 2022. The empirical evidence is gathered from five months of extensive ethnographic study with 66 home-based women entrepreneurs belonging to 26 handloom family enterprises. Semi-structured, in-depth interviews and the following narrative analysis have been used to comprehend the complex and dynamic conception of female entrepreneurship and women's agency to pivot business strategies during the economic turmoil of the COVID-19 pandemic.

Findings

As a result of the abrupt suspension of the textile industry and the partial or total closure of the traditional and contemporary markets due to the COVID-19 pandemic, women from family handloom enterprises are taking steps to strengthen their entrepreneurial resistance. Although women entrepreneurs had spent years running the family business in the absence of their husbands, the pandemic exacerbated the deep-seated gender disparities within the family when social norms threatened to undo the hard-won progress made by them. However, their sense of agency enables them to plan well and resist the patriarchal onslaught with a variety of potentials, utilising tools of active and/or passive resistance within an environment of concrete limits and oppressions.

Originality/value

The paper contributes to the literature on women's entrepreneurial capacity by focusing on how the COVID-19 crisis and changing market demands enable gendered reactions in family enterprises. While men, back home after losing their jobs, choose to strengthen their individual identities and power positions by trying to retain control over the family business, women contribute to collective actions for enhancing the resilience of the community by pivoting their business strategies and implementing new ideas to suit new market conditions. Women thus play a central role in fostering social cohesion, helping build and maintain relationships, promoting empathy, and creating a sense of belonging, which strengthen community bonds and cooperation. The paper shows how women's entrepreneurial resilience and responsibility provide an important basis for organizing sustainable collective action for the survival of the artisanal community during crisis situations.

Details

International Journal of Gender and Entrepreneurship, vol. 15 no. 4
Type: Research Article
ISSN: 1756-6266

Keywords

Article
Publication date: 12 July 2023

Ritesh Kumar and Ajnesh Prasad

This study revisits the discourse on the neoliberalization of business schools and explores how accreditation-linked institutional pressures catalyze cultural change that…

Abstract

Purpose

This study revisits the discourse on the neoliberalization of business schools and explores how accreditation-linked institutional pressures catalyze cultural change that adversely impact academic labor and academic subjectivities in the Global South.

Design/methodology/approach

This study is based on in-depth semi-structured interviews with academics from elite business schools in India.

Findings

This study shows how academics encounter institutional pressures in Indian business schools. Three major themes emerged from the data: (1) the conception of the ideal academic that existed before accreditation, (2) how the conception of the ideal academic was fundamentally transformed during and after accreditation, and (3) the challenges academics experienced in achieving the performance targets introduced by accreditation-linked institutional pressures.

Originality/value

This study offers two contributions to the extant literature on business schools located in the Global South: (1) it illustrates how organizational changes within business schools in India are structured by accreditation-linked institutional pressures coming from the Global North, and (2) it adds to the growing body of work on neoliberal governmentality by highlighting the implications of accreditation-liked institutional pressures on academic subjectivities.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 42 no. 7
Type: Research Article
ISSN: 2040-7149

Keywords

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