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1 – 10 of 10Raktim Ghosh, Bhaskar Bagchi and Susmita Chatterjee
The paper tries to analyse empirically the impact of India's economic policy uncertainty (EPU) index on different macro-economic variables of India, like import, export, interest…
Abstract
Purpose
The paper tries to analyse empirically the impact of India's economic policy uncertainty (EPU) index on different macro-economic variables of India, like import, export, interest rate, exchange rate, inflation rate and stock market during pre-COVID-19 and COVID-19 era.
Design/methodology/approach
Although there exist several works where relationship and volatility among the stock markets and macro-economic indicators during the COVID-19 pandemic have been estimated, but till now none of the studies examined the effect of EPU index on different macro-economic variables in the Indian context along with the stock market due to the outbreak of COVID-19 pandemic. This is considered a noteworthy gap and hence opens up a new dimension for examination. To get a clear picture, monthly data from January, 2012 to September, 2021 have been considered where January, 2012–February, 2020 is taken as the pre-COVID-19 period and March, 2020–September, 2021 as COVID-19 period. All the data are converted into log natural. The authors applied DCC-GARCH model to investigate the impact of EPU index on volatility of selected variables over the study period across a multivariate framework and Markov regime-switching model to examine the switching over of the variables.
Findings
The results of dynamic conditional correlation - multivariate generalized autoregressive conditional heteroskedasticity (DCC-MGARCH) model indicates the presence of volatility in the dependent variables arising out of economic policy uncertainty considering the segmentation of the study period into pre-COVID-19 and COVID-19. The results of Markov regime-switching model show the variables make a significant move from low-volatility regime to high-volatility regime due to the presence of COVID-19.
Research limitations/implications
It can be implied that impact of EPU in terms of volatility on the Indian Stock Market will lead to unfavourable investment conditions for the prospective investors. Even, the different macro-economic variables are to suffer from the volatility arising out of EPU across a long time horizon as confirmed from the DCC-MGARCH model.
Originality/value
The study is original in nature. It adds superior values from the new and significant findings from the study empirically. Application of DCC-MGARCH model and Markov regime switching model makes the study an innovative one in terms of methodology and findings.
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The purpose of this paper is to examine the dynamic relationship between crude oil price volatility and stock markets in the emerging economies like BRIC (Brazil, Russia, India…
Abstract
Purpose
The purpose of this paper is to examine the dynamic relationship between crude oil price volatility and stock markets in the emerging economies like BRIC (Brazil, Russia, India and China) countries in the context of sharp continuous fall in the crude oil price in recent times.
Design/methodology/approach
The stock price volatility is partly explained by volatility in crude oil price. The author adopt an Asymmetric Power ARCH (APARCH) model which takes into account long memory behavior, speed of market information, asymmetries and leverage effects.
Findings
For Bovespa, MICEX, BSE Sensex and crude oil there is an asymmetric response of volatilities to positive and negative shocks and negative correlation exists between returns and volatility indicating that negative information will create greater volatility. However, for Shanghai Composite positive information has greater effect on stock price volatility in comparison to negative information. The study results also suggest the presence long memory behavior and persistent volatility clustering phenomenon amongst crude oil price and stock markets of the BRIC countries.
Originality/value
The present study makes a number of contributions to the existing literature in the following ways. First, the author have considered crude oil prices up to January 31, 2016, so that the study can reflect the impact of declining trend of crude oil prices on the stock indices which is also regarded as “new oil price shock” to measure the volatility between crude oil price and stock market indices of BRIC countries. Second, the volatility is captured by APARCH model which takes into account long memory behavior, speed of market information, asymmetries and leverage effects.
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Bhaskar Bagchi and Jayanta Chakrabarti
The present study aims to investigate the impact of liquidity management on profitability of Indian Fast-Moving Consumer Goods (FMCG) firms, as well as the relationship among…
Abstract
Purpose
The present study aims to investigate the impact of liquidity management on profitability of Indian Fast-Moving Consumer Goods (FMCG) firms, as well as the relationship among them, using econometric models.
Design/methodology/approach
Liquidity indices like current ratio, liquid ratio, absolute liquid ratio and cash conversion cycle are taken as explanatory variables, whereas age of creditors, age of debtors, age of inventory, sales and inter-temporal growth in sales are taken as control variables. Profitability is measured in terms of return on investment. The sample size is restricted to 18 Indian FMCG firms, and the secondary data for analysis are retrieved from Prowess Database of Centre for Monitoring Indian Economy for 10-year period from 2001-2002 to 2010-2011. Apart from using descriptive statistics and Pearson’s correlation analysis, panel data regression analysis like fixed-effects model and random effects model are used in the study. Hausman test is also used to make a choice between these two models.
Findings
The study results reveal a strong negative relationship between the measures of liquidity management and firms’ profitability, but firms’ size has a strong positive affiliation with profitability.
Research limitations/implications
The study has been constrained by the sample size and the nature of the data, which could have well affected the results.
Originality/value
This study has identified critical management practices which are expected to help out finance managers and practitioners in recognizing vital areas for improving the financial performance of their firm’s operation.
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Soumyabrato Bagchi and Bhaskar Chakrabarti
The aim of this paper is to develop a theory of organizational forgetting in the context of local governments from the paradigmatic lens of existing research orchestrated in…
Abstract
Purpose
The aim of this paper is to develop a theory of organizational forgetting in the context of local governments from the paradigmatic lens of existing research orchestrated in management literature. The paper empirically explores how and why local governments forget and discusses the role of local politics in promoting memory loss in organizations.
Design/methodology/approach
The authors do an ethnographic study in a Village Panchayat, the lowest tier of the local government in rural India, in West Bengal, a state in eastern India. Data are collected through participant observation and informal interviews.
Findings
The paper argues that the existing framework on modes of organizational forgetting developed in the management literature is not sufficient in understanding the types of knowledge loss that occur in local governments. It shows that as a consequence of “memory decay” and “failure to capture,” local governments involuntary lose past knowledge and critical sources of expertise. The study also acknowledges the role of politics in deliberately endorsing organizational forgetting in local governments to eliminate failure and ethical lapses of elected representatives.
Originality/value
By exploring the phenomenon of organizational forgetting in local governments in the context of grassroots politics, this paper contributes to the ongoing discussion of organizational forgetting in a hitherto understudied area of how, and under what circumstances, public organizations such as local governments undergo forgetting, unlearning or loss of knowledge.
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Rakesh Raut, Pragati Priyadarshinee, Bhaskar B. Gardas, Balkrishna Eknath Narkhede and Rupendra Nehete
The purpose of this paper is to analyse proposed cloud computing integration (CCI) and external integration (EI) effects on the relationship between the integration of supply…
Abstract
Purpose
The purpose of this paper is to analyse proposed cloud computing integration (CCI) and external integration (EI) effects on the relationship between the integration of supply chain and business performance of the organisation in the Indian context.
Design/methodology/approach
A two-stage, structural equation modelling (SEM) and artificial neural network (ANN) methodology are employed for the analysis, and for verifying the robustness of the developed model sensitivity analysis is performed.
Findings
The results of SEM revealed that out of 14 hypotheses, 12 hypotheses were supported. Furthermore output of SEM was used as input for the ANN model and the results highlighted that production flexibility is an essential factor for operational business performance (OBP) followed by customer integration, supplier integration, product quality, internal integration and on-time delivery (OD).
Research limitations/implications
This study focussed on the emerging economies context and cannot be applied to all the countries, and there could be other derived variables from the real factors. This investigation is intended to guide various policy and decision makers of the case domain.
Originality/value
This study has introduced new factors such as CCI, EI and organisational business performance.
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Fahreen Alamgir and George Cairns
– This paper aims to discuss the discourse of globalisation and its implications in the case of state-owned jute mills (SOJMs) in the post-colonial state of Bangladesh.
Abstract
Purpose
This paper aims to discuss the discourse of globalisation and its implications in the case of state-owned jute mills (SOJMs) in the post-colonial state of Bangladesh.
Design/methodology/approach
The authors draw upon a critical debate on the concept of globalisation and critical political economy to revisit the country’s historical, political, social and cultural construction to discuss conditions of its conformity within the global order. Additionally, the perspective of subaltern studies underpins discussion of the context of the post-colonial state.
Findings
A schematic analysis of the context surfaces issues that underpin the process of “truth production” and that have contributed to global integration of the Bangladesh economy. We consider how this discourse benefits some people, while over time, the majority are dislocated, excluded and deprived. Hence, this discourse denotes a territorial power of globalism that leads us to conceptualise Bangladesh as a neo-colonial state.
Originality/value
Through a case study of SOJMs, this paper contributes to discussion on the essence and implications of the globalisation discourse and on how its methods and techniques reinforce hegemony in the name of development and sustainability in the forms of liberalisation, democratisation and good governance in a state like Bangladesh.
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The purpose of the paper is to examine the problem of anti-social financial practices which seems to be a taken-for-granted reality in many parts of the world and particularly in…
Abstract
Purpose
The purpose of the paper is to examine the problem of anti-social financial practices which seems to be a taken-for-granted reality in many parts of the world and particularly in developing countries. The paper locates the role of actors within the theory of transformational model of social activity proposed by Bhaskar (1989) and advocates radical reform to minimise attendant problems created by these antisocial financial practices.
Design/methodology/approach
The paper proposed Bhaskar’s (1989) theory of transformational model of social activity which suggests that the society provides the necessary conditions for intentional human activity and that intentional human action is a necessary condition for it. This is because it is difficult to separate people’s perception from the wider social context in which the phenomena arise and the way and manner in which the practices are constructed. To help understand why antisocial financial practices have become so deeply embedded in the Nigerian sociopolitical and economic systems, the views of significant others (professionals, tax officials, non-governmental organisations, media and regulators) were solicited about the structures that influence the activities of the social actor involved in these antisocial financial practices in Nigeria.
Findings
Using results from 24 interviews, the paper argues that social structures, such as globalisation, history, politics and social networks, have influenced and [re]shaped the attitudes and behaviours of actors towards committing antisocial financial practices.
Practical implications
The paper, therefore, advocates a radical reform that could minimise the attendant problems created by these antisocial financial practices of actors and the enabling structures.
Social implications
Where antisocial financial practices are embedded in the society, they become part of the daily routines and in that process are normalised.
Originality/value
The paper is a general review of the literature and evidence on contemporary issues.
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Younès El Manzani, Mostapha El Idrissi and Zakaria Lissaneddine
This study empirically analyzes the direct impacts of soft quality management practices (SQMP) and market orientation ambidexterity (MOA) on product innovation ambidexterity…
Abstract
Purpose
This study empirically analyzes the direct impacts of soft quality management practices (SQMP) and market orientation ambidexterity (MOA) on product innovation ambidexterity (PIA). It also examines the mediating role of MOA in the relationship between SQMP and PIA.
Design/methodology/approach
Following a quantitative research methodology, a well-structured questionnaire is used to collect data from 130 Moroccan certified ISO 9001 firms. The conceptual framework of the study was tested using partial least squares structural equation modeling.
Findings
The results show that SQMP have no significant association with PIA while they positively and significantly impact MOA. The study also revealed that MOA has a positive and significant impact on PIA and fully mediates the relationship between SQMP and PIA.
Research limitations/implications
Due to the conceptualization of MOA and PIA as combined ambidexterity, the results of the study might be different in the case of balanced ambidexterity.
Practical implications
To achieve PIA, managers need to be aware that implementing SQMP, while important, is not enough. They must invest sufficient resources to properly implement these practices to support MOA. Consequently, MOA will lead their organization to PIA by establishing the significant impact of SQMP on PIA.
Originality/value
Regardless of the abundant literature on the relationship between quality management (QM) practices and innovation, this study is among the first to examine the impact of SQMP on PIA. Using MOA as a mediator can give a meaningful answer to the indecisive empirical results of the impact of QM on innovation. Furthermore, this research contributes to the scarce literature on relevant studies conducted in developing countries.
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Kristijan Mirkovski, Kamel Rouibah, Paul Lowry, Joanna Paliszkiewicz and Marzena Ganc
Despite the major information technology investments made by public institutions, the reuse of e-government services remains an issue as citizens hesitate to use e-government…
Abstract
Purpose
Despite the major information technology investments made by public institutions, the reuse of e-government services remains an issue as citizens hesitate to use e-government websites regularly. The purpose of this study is to investigate the cross-country determinants of e-government reuse intention by proposing a theoretical model that integrates constructs from (1) the Delone and McLean IS success model (i.e. system quality, service quality, information quality, perceived value and user satisfaction); (2) the trust and risk models (i.e. citizen trust, overall risk, time risk, privacy risk and psychological risks); and (3) Hofstede's cultural model (i.e. uncertainty avoidance, masculinity, individualism and cross-cultural trust and risk).
Design/methodology/approach
Based on data from interviews with 81 Kuwaiti citizens and surveys of 1,829 Kuwaiti and Polish citizens, this study conducted comprehensive, cross-cultural and comparative analyses of e-government reuse intention in a cross-country setting.
Findings
The results show that trust is positively associated with citizens' intention to reuse e-government services, whereas risk is negatively associated with citizens' perceived value. This study also found that masculinity–femininity and uncertainty avoidance are positively associated with the intention to reuse e-government services and that individualism–collectivism has no significant relationship with reuse intention. This study's findings have important implications for researchers and practitioners seeking to understand and improve e-government success in cross-country settings.
Originality/value
This study developed a parsimonious model of quality, trust, risk, culture and technology reuse that captures country-specific cultural contexts and enables us to conduct a comprehensive, cross-cultural and comparative analysis of e-government reuse intention in the cross-country setting of Kuwait and Poland.
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Ganesh Tanpure, Vinod Yadav, Rakesh Jain and Gunjan Soni
The Product Lifecycle Management (PLM) system has found varieties of deployments in various domains of product-based industries. Current study aims to provide a framework for the…
Abstract
Purpose
The Product Lifecycle Management (PLM) system has found varieties of deployments in various domains of product-based industries. Current study aims to provide a framework for the adoption of PLM systems in manufacturing organizations to meet the actual requirements of industries.
Design/methodology/approach
First, a systematic review of extant literature was performed, and further, the case study approach is opted to study the process of New Product Development (NPD) in a manufacturing organization. Triangulation methodology was adopted wherein the interview results, actual observations, and authorized documentations were used to validate the result and provide conclusions.
Findings
A conceptual framework and implementation architecture for PLM is derived. The complete ecosystem for digital footprint is mapped for New Product Development (NPD) activities.
Practical implications
The study could be helpful for Techno-Functional Managers. For individuals with only functional/technical knowledge, additional training might be required to adopt the framework in actual practices.
Originality/value
The paper contributes to the existing literature by providing a framework and demonstrating the feasibility of implementation through the case study.
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