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Article
Publication date: 2 September 2019

Pooja Kumari and Chandra Sekhar Mishra

Fundamental shifting of the world toward intangible intensive economy raised an apprehension regarding value relevance of internally generated intangible assets. In the…

Abstract

Purpose

Fundamental shifting of the world toward intangible intensive economy raised an apprehension regarding value relevance of internally generated intangible assets. In the previous studies, research and development (R&D) expenditure is recognized as a significant accounting item, which can indicate potential internally generated intangible assets. This study aims to examine whether investors consider nature of intangible intensity of a firm for the evaluation of R&D expenditure to determine equity values in India.

Design/methodology/approach

The authors compared value relevance of capitalized and the expensed portion of R&D expenditure between intangible- and non-intangible-intensive firms. They adopted empirical model grounded on the generalized version of Ohlson’s (1995) model.

Findings

The findings of the study indicate that, in intangible-intensive (non-intangible) firms, the capitalized portion of expenditure is positively (negatively) significant and the expensed portion of R&D expenditure is negatively (positively) significant to explain equity values.

Practical implications

The findings of this study may have potential implication for the discussion on the accounting treatment of internally generated intangible assets based on the nature of intangible intensity of the firm. The study also suggests that while setting standards, standard-setters should consider nature of intangible intensity of the firm, which could disseminate the discrepancy between the market and book value of the equity.

Originality/value

The study provides evidence, how value relevance of R&D reporting is affected by the nature of intangible intensity of a firm.

Details

Journal of Financial Reporting and Accounting, vol. 17 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 29 June 2021

Pooja Kumari and Chandra Sekhar Mishra

This paper aims to examine the impact of the intangible intensity of the firm on the relevance of research and development (R&D) information to determine equity values in…

Abstract

Purpose

This paper aims to examine the impact of the intangible intensity of the firm on the relevance of research and development (R&D) information to determine equity values in India. Additionally, the study compares the association of input information on R&D investment (the reported R&D cost) and output information on R&D investment (patent count) with equity values. Further, the study also examines the operational nature of the firm and patent count, which is the better proxy to measure the intangible intensity of the firm.

Design/methodology/approach

The authors compared the explanatory power of R&D information between intangible and non-intangible intensive firms. To estimate the value relevance of R&D information, the authors followed the statistical model based on the theoretical framework of the residual income model.

Findings

The results indicate that there is a significant moderating impact of the intangible intensity of the firm on the relevance of R&D information to determine equity values in India over the 25 years study period (from 1991 to 2016). Further, in India, the study finds that the input information of R&D outlay is more relevant than output information on R&D outlay to determine equity values, irrespective of the proxy measure of intangible intensity. Moreover, the study finds that the operational nature of the firm is a better proxy of the intangible intensity of the firm compared to patent counts.

Research limitations/implications

In this study, pooled cross-sectional data were used for analysis. In the future, longitudinal and panel data can be used for more insightful results.

Practical implications

The findings of the study provide direction to investors and creditors to find the intrinsic value of the investments in internally developed intangible assets, which will reduce the asymmetry between the market value and accounting value of equity.

Originality/value

The paper offers insights into the impact of intangible intensity on the relevance quality of R&D information in an emerging country.

Details

Journal of Applied Accounting Research, vol. 22 no. 5
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 9 March 2021

Amit Kumar Bardhan, Barnali Nag, Chandra Sekhar Mishra and Pradeep Kumar Tarei

An amalgamation of Decision-Making Trial and Evaluation Laboratory (DEMATEL) and Analytical Network Process (ANP) has been performed to develop a decision-making framework…

Abstract

Purpose

An amalgamation of Decision-Making Trial and Evaluation Laboratory (DEMATEL) and Analytical Network Process (ANP) has been performed to develop a decision-making framework for improving the overall performance of the microfinance institutions. A primary survey was conducted to collect real-time data from the heterogeneous stakeholders of microfinance institutions across India. The validation of the proposed framework is performed by comparing the results against the conventional method of Analytical Hierarchy Process (AHP).

Design/methodology/approach

This study identifies various dimensions and indicators for measuring the performance of Indian microfinance institutions. Additionally, the ranking and prioritisation of the performance dimensions and indicators is obtained by considering the mutual interrelation between them.

Findings

The study indicates that there exists a significant dyadic relationship between financial performance and social performance for improving the overall performance of the microfinance institutions. Governance is found to unidirectionally influence both financial and social performance. Among all the considered dimensions, financial performance of a microfinance institution is the most critical dimension for improving the overall performance. The top five performance indicators of the Indian microfinance institutions are funding source, borrowing and overhead cost, size of the firm, end-use of the money and depth of outreach.

Research limitations/implications

The study was conducted in the context of Indian microfinance institutions; hence the scope of generalisation of the results is limited. This research considers both subjective and objective aspect of the performance dimensions and indicators from the perspective of multiple stakeholders (i.e. firm, society and regulator). The integrated framework is expected to aid in improving overall performance of microfinance institutions by focusing on the most critical (high prioritised) performance indicators.

Originality/value

An integrated DEMATEL-ANP framework is used in the domain of microfinance to assess the performance dimensions. This study is unique in terms of analysing performance of microfinance institutions from the perspective of heterogeneous stakeholders.

Details

Benchmarking: An International Journal, vol. 28 no. 9
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 8 June 2021

Malaya Ranjan Mohapatra and Chandra Sekhar Mishra

This study aims to reconcile the contradictory findings of multiple directorships (MD) and its impact on firm performance. The present work incorporates the industry…

Abstract

Purpose

This study aims to reconcile the contradictory findings of multiple directorships (MD) and its impact on firm performance. The present work incorporates the industry experience of busy directors into the picture and examines its impact on firm performance.

Design/methodology/approach

Data are collected for 345 non-financial National Stock Exchange listed firms from Bloomberg, Centre for Monitoring Indian Economy ProwessIQ database and company annual reports from the financial year 2008–2009 to 2017–2018. The industry and year fixed effect panel regression models are used for both business group and non-business group (NBG) firms.

Findings

The study reconciled the contradictory findings between MD and the performance of a firm. The results claim that firms having non-executive directors on board with similar industry experience positively influence the firm performance while board having non-executive directors with diverse industry experience establish an adverse relationship. The results are similar for both group affiliated and non-group affiliated firms in India. Further analysis through interaction effect reveals that the presence of more busy outside directors on board irrespective of their industry experience, i.e. similar or diverse, reduces the performance of a NBG affiliated firm.

Research limitations/implications

The findings of the study contribute to the existing literature and tries to establish a strong argument for MD by incorporating industry experience. The present work considers non-financial listed firms, while financial firms and industry experience of outside directors in other emerging economies can be studied to draw additional insights into the existing literature.

Practical implications

Both regulatory bodies and firms should consider the industry experience of non-executive directors for enhancing firm performance.

Originality/value

Existing studies highlight the contradictory arguments for MD and firm performance. The current study incorporates the industry experience of non-executive directors, either in a similar or diverse industry, for the empirical analysis to reconcile the contradictory findings. The present work suggests that a firm should appoint non-executive directors with similar industry experience to enhance firm performance.

Details

Accounting Research Journal, vol. 34 no. 6
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 6 November 2017

Chandra Sekhar, Manoj Patwardhan and Vishal Vyas

This paper aims to measure the human resource (HR) flexibility and firm performances confirmatory model and to map the causal relation structures in the HR flexibility and…

Abstract

Purpose

This paper aims to measure the human resource (HR) flexibility and firm performances confirmatory model and to map the causal relation structures in the HR flexibility and firm performance dimensions using the DEMATEL method.

Design/methodology/approach

Data were collected from leading national and multinational information technology (IT) firms operating in the southern part of India. Confirmatory factor analysis was used to measure the confirmatory model, and the DEMATEL method was used to map the causal relation among the dimensions of HR flexibility and firm performance.

Findings

HR flexibility could exist across IT firms. Organisations are required to anticipate and respond promptly to changing conditions in such a way that both technical and stakeholders’ complexity are effectively managed.

Research limitations/implications

The study was conducted at leading national and multinational IT firms operating in the southern part of India.

Practical implications

HR flexibility allows employees with a wide variety of work styles and lifestyles to be successful contributors, to advance and to lead in the parent firm. It brings out diversity and individuality, shared responsibility, wholeness, etc., among the employees. It applies to work schedules and career paths across the organisation. IT firms are advised to adopt an external focus, an organic and employee-oriented approach and long-term orientation.

Originality/value

Confirming the measurement model and mapping the causal relationship among the dimensions of HR flexibility and firm performance would be the novel contributions to the research in the areas of HR flexibility and firm performance with regard to IT firms. This paper contributes to the literature by theoretically and empirically investigating such relationships, thereby addressing the research gaps reviewed from literature.

Details

Journal of Modelling in Management, vol. 12 no. 4
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 21 February 2020

Chandra Sekhar

The purpose of this study is to identify the barriers to including sustainability in management education institutions (MEIs) in India, and subsequently, to analyze the…

Abstract

Purpose

The purpose of this study is to identify the barriers to including sustainability in management education institutions (MEIs) in India, and subsequently, to analyze the structure of the causal relationships among the barriers.

Design/methodology/approach

In this study, the decision-making trial and evaluation laboratory methodology are applied to analyze the structure of the causal relationships among the identified sustainability barriers.

Findings

Through an extensive literature review and expert interviews, this paper identified 4 primary barriers and 46 sub-barriers. Encompassing sustainability in Indian MEIs results in changes in behavior involving increased respect for the environment, hence, leading to improved sustainable efficiency.

Research limitations/implications

The present study is limited to MEIs in India.

Practical implications

The inclusion of sustainability in MEIs equips future managers with the economic, ecological and technical knowledge required to demonstrate sustainable behavior in the workplace. It assists also equips managers with the ability to affect social change at an organizational level. MEIs has been acknowledged as playing a crucial role in societal transformations, including the need for transformation toward sustainability.

Originality/value

The present study adds to the current knowledge base regarding the structure of the causal relationships among the identified sustainability barriers. To the author’s knowledge, this is the first paper to identify such barriers to including sustainability in an Indian MEI context.

Details

International Journal of Sustainability in Higher Education, vol. 21 no. 2
Type: Research Article
ISSN: 1467-6370

Keywords

Content available
Book part
Publication date: 3 June 2021

Abstract

Details

Productivity Growth in the Manufacturing Sector
Type: Book
ISBN: 978-1-80071-094-8

Article
Publication date: 3 August 2021

Chandra Sekhar, Swati Krishna, Ghadeer G. Kayal and Nripendra P. Rana

This study's main objective is to investigate the influence of brand credibility on the intention to purchase organic food. In addition, this research studies the…

Abstract

Purpose

This study's main objective is to investigate the influence of brand credibility on the intention to purchase organic food. In addition, this research studies the moderating role of customer ethnocentricity as well as the mediating role of customer value.

Design/methodology/approach

To explore correlations between brand credibility and purchase intentions, cross-sectional data were collected from 433 Indian consumers. The data were analysed by structural equation modelling.

Findings

The findings indicate that brand credibility is positively related to purchasing intention. The association between brand credibility and purchasing intentions is partially mediated by customer value. Customer ethnocentrism was also shown to have a negative moderation effect. Healthiness, high quality and sensory properties (i.e. natural taste) were found to be some of the most significant organic food characteristics, according to Indian consumers.

Research limitations/implications

The research is confined to India's geographical area, specifically the National Capital Regions.

Practical implications

To increase the purchase frequency of local or global branded organic food, businesses can include rational features in their marketing method such as the health benefits compared to the conventional product, a better emphasis on environmental safety and the social advantages of organic food.

Originality/value

This study develops an integrative model, including brand credibility (PBG & PBL), to predict organic food purchase intentions. This is an important contribution as, according to the results of the literature review, no previous studies have analysed these relationships.

Details

British Food Journal, vol. 124 no. 3
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 18 November 2019

Som Sekhar Bhattacharyya and Aakash Malik

The purpose of this study is to provide a comprehensive understanding regarding corporate turnaround. An integrated discussion regarding different corporate failure…

Abstract

Purpose

The purpose of this study is to provide a comprehensive understanding regarding corporate turnaround. An integrated discussion regarding different corporate failure factors, conditions, symptoms followed by turnaround strategies and its results have been provided.

Design/methodology/approach

Authors have done a comprehensive systematic and integrated literature review study of research articles on corporate turnaround. The paper reviewed discussed different dimensions of turnaround management. The authors applied thematic reductionist categorisation with logical arguments to develop an integrated turnaround canvas (ICT).

Findings

An ICT has been developed. ICT is a holistic framework to comprehend turnaround strategy. Impact of precondition and turnaround levers on cash flow dynamics and the operational and strategic levers for successful turnaround performance of the firm has also been presented. Authors have also tabulated the entire spectrum of corporate turnaround.

Research limitations/implications

This conceptual work would help researchers interested in turnaround research to anchor their study at different points in ICT canvas. This could be at the decline precondition stage, corporate failure state, turnaround levers (strategic and operational) application phase and in terms of turnaround performance.

Practical implications

The ICT canvas would help managers to identify the set of corporate failure preconditions which might lead their firm to decline phase. The ICT canvas would also help managers based upon the identification of decline preconditions to select an appropriate turnaround interventions required to arrest the corporate failure. Finally, the ICT canvas would help in identifying the operational and strategic levers for successful turnaround implementation and thus achieving the desired corporate performance.

Originality/value

This is one of the first studies to provide an integrated perspective on corporate turnaround as the developed ICT canvas consisted of identification of decline preconditions, corporate failure, turnaround levers (strategic and operational ) and turnaround performance.

Details

International Journal of Organizational Analysis, vol. 28 no. 2
Type: Research Article
ISSN: 1934-8835

Keywords

Content available
Book part
Publication date: 19 December 2016

Radha R. Sharma and Sir Cary Cooper

Abstract

Details

Executive Burnout
Type: Book
ISBN: 978-1-78635-285-9

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