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After completion of the case study, the students will be able to understand the calculation of cost of individual sources of funds and cost of capital, examine various tools such as economic value added and cash value added analyses which help determining whether a company has added value to its shareholders or not and explore the application of Benford’s law and the Beneish M-score in detecting manipulation of numbers in financial statements.

Nimmy Jacob, a newly recruited research analyst with an equity research firm, was entrusted with tracking the “auto ancillary industry”, specifically “Minda Corporation Ltd” (MIL). MIL was a leading diversified auto components manufacturing companies in India. The company’s share price meteorically rose during February 2021–2022 (Figure 1). The company’s turnover over the past few years had grown at a compounded annual growth rate of 15% during the three preceding years. The company had in the recent past bought a 15% stake in another competitor, Pricol Ltd, for a consideration of INR 400 crores and previously had used joint ventures and acquisitions to scale up its operations. Jacob, apart from the conventional financial analysis, had to ascertain whether all the strategic decisions were adding value to the shareholders’ investments by exploring the various tools available for the same and also calculate the minimum expected rate of return for MIL. Jacob was apprehensive about the financial statements, although the numbers for the company were good. Jacob was skeptical about a high-growth company having the incentive to manipulate its earnings. Manipulations could be in the form of abnormal increase in accruals, inconsistency in expenses and high days of receivables. Therefore, Jacobs used certain analytics/statistical tools to detect any manipulation of numbers in the financial statements of the company and to ascertain apt findings about the company.

This case study is intended for discussion in corporate finance, financial reporting and analysis and financial analytics at Master of Business Administration/undergraduate level.

Teaching notes are available for educators only.

CSS1: Accounting and finance

Prodigious teamwork is the basis for augmenting the level of productivity on construction projects. Globalisation of the construction market has meant that many practitioners work outside of their geographical spectrum; however, the multicultural dissimilarities of construction workforces within the project management team (and how these may impact upon project productivity performance) have been given scant academic attention. To bridge this knowledge gap, this paper aims to analyse the effects of a multicultural workforce on construction productivity.

The epistemological positioning of the research adopted mixed philosophies (consisting of both interpretivism and postpositivism) to undertake a deductive and cross-sectional survey to collate primary quantitative data collected via a closed-ended structured questionnaire. Census sampling and convenience sampling techniques were adopted to target Ghana’s construction workforce and their opinions of the phenomenon under investigation. Out of 96 questionnaires administered, 61 were retrieved. The data obtained were analysed by using mean score ranking, relative important index, one sample t-test and multiple regression. The reliability of the scale was checked by using Cronbach’s alpha coefficient.

From the t-test analysis, 11 variables sourced from extant literature, and the null hypothesis for the study was not rejected and all factors (except high cost of training and improper gender diversity management) were affirmed as negative effects of the multicultural workforce on construction productivity. Using multiple regression analysis, six of the independent variables were shown to impact upon productivity. The goodness of fit was verified by collinearity and residual analysis. The model’s validation revealed a relatively high predictive accuracy (R² = 0. 589), implying that the results could be generalized. In culmination, these findings suggest that the predictors can be used to accurately predict the effects of multicultural workforce on construction productivity performance.

The findings indicate that multicultural workforce/teams have a substantial effect on overall construction productivity in the construction sector; consequently, stakeholders must address this issue to enhance productivity across the sector.

The current study significantly contributes to our understanding of how multicultural workers/teams affect construction productivity in the construction business perspective and how to respond to the negative menace.

The purpose of the research is to propose reforms that would help to bridge the gap between theory and practice and produce more effective urban planners. The research on urban planning curricula in the global South is a valuable contribution to the field of urban planning education. It provides a new perspective on the challenges facing urban planning education in these countries and offers a roadmap for improvement.

The research explores and evaluates the urban planning curricula in the global South, with a particular interest in Egypt. The research employs the use of questionnaires with 56 university instructors, analysed thematically, to evaluate the current content of curricula. The results are compared and correlated with a pilot study exploring research interest, government policies and practices of urban planning in Egypt.

Through comparing the results of the evaluation with the current research interest in urban planning in Egypt, the paper investigates the possibility of improving current educational curricula using comparative network analysis which would establish stronger interdisciplinary connections.

The seeming disconnects between urbanism concepts taught in educational curricula and their relevance in practice and reality is a vital issue in urban studies and planning. Interdisciplinary connections with topics like politics, economies, gender, and others can assist curricula in becoming more relevant to real-world situations. This disconnect is even more apparent in the global South where most educational content is highly derivative from Northern contexts. Though such interdisciplinary aspects are under discussed in educational curricula, they are frequently discussed in academic research.

In the UK, food poverty has increased in the last 15 years and the food aid supply chain that has emerged to tackle it is now roughly 10 years old. In this time, we have seen the food aid supply chain grow at a rate that has astounded many. Recently that growth has been aided by a grant of £20m from a large supermarket chain. It appears institutionalisation is just around the corner, if not already here. It also appears that there is far greater emphasis on dealing with the symptoms as opposed to solving the root causes of the problem. As an opinion piece, this paper reflects on some of the prevalent issues, and suggests some ways forward.

The study aims to identify organizational variables of quality 4.0 for an Indian manufacturing company in the case of digital transformation. Furthermore, the organization enhances its quality 4.0 performances to its success based on the degree of relevance of these variables, insight into these variables and sub-factors to prioritize them.

Initially, two rounds of the survey were conducted with 11 decision-makers from the company made to receive organizational variables scores and prioritize the factors and sub-factors. Analytic Hierarchy Process (AHP) based research methodology has been proposed to assign the criterion weights and prioritize the identified variables.

The results of this AHP model demonstrate that “Committed Leadership” is recognized as the top positioned variable and most significant organizational variable, followed by Collaboration and Quality culture, which are developed at the next level. These essential organizational variables with their sub-categories' priorities are identified as contributing attributes.

The findings facilitate quality 4.0 in the digitalization era, which take into contemplating the current state of the business. Furthermore, the understanding of variables provides insightful guidance to analyze, solve complex problems and assess the efficacy of quality 4.0 in digital transformation.

The novelty of this study is to pinpoint, and evaluate the responsible organizational variables and prioritize them that lead to high productivity and competitive advantage considering the AHP method.