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Article
Publication date: 10 January 2018

Rakesh Kumar Mishra and Sheeba Kapil

This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.

2073

Abstract

Purpose

This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.

Design/methodology/approach

Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on asset [ROA]).

Findings

The empirical findings indicate that the market-based measure (Tobin’s Q) is more impacted by corporate governance than the accounting-based measure (ROA). There is a significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of chief executive officer and chairman of the board is found to be value-creating, and overburdened directors affect firm performance adversely.

Research limitations/implications

Limitations of the study are in terms of methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decision-making process adopted by the boards to fight competition or to increase market share is not easily available in public domain. The decision-making processes and monitoring for implementation of those decisions could impact corporate governance performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study.

Originality/value

The paper adds to the emerging body of literature on corporate governance performance relationship in the Indian context by using a reasonably wider and newer data set.

Details

Journal of Indian Business Research, vol. 10 no. 1
Type: Research Article
ISSN: 1755-4195

Keywords

Article
Publication date: 5 March 2018

Rakesh Kumar Mishra and Sheeba Kapil

The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.

2059

Abstract

Purpose

The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.

Design/methodology/approach

Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance.

Findings

Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study.

Research limitations/implications

Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship.

Originality/value

The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.

Details

South Asian Journal of Business Studies, vol. 7 no. 1
Type: Research Article
ISSN: 2398-628X

Keywords

Article
Publication date: 7 August 2017

Rakesh Mishra and Sheeba Kapil

This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.

3175

Abstract

Purpose

This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.

Design/methodology/approach

Corporate governance structures of 391 Indian companies out of CRISIL NSE Index (CNX) 500 companies listed on national stock exchange (NSE) have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on assets [ROA]).

Findings

The empirical findings indicate that market-based measure (Tobin’s Q) is more impacted by corporate governance than accounting-based measure. There is significant positive association between promoter ownership and firm performance. It is also indicated that the relationship between promoter ownership and firm performance is different at different levels of promoter ownership. Board size is found to be positively related to ROA; however, board independence is not found to be related to any of the performance measures.

Research limitations/implications

Limitations of the study are in terms of data methodology and possible omission of some variables. It is felt that endogeneity and reverse causality might be better addressed using simultaneous equation methodology.

Originality/value

The paper adds to the emerging body of literature on corporate governance performance relationship in Indian context using a reasonably wider and newer data set.

Details

Corporate Governance: The International Journal of Business in Society, vol. 17 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 28 November 2022

Prateek Kumar Tripathi, Chandra Kant Singh, Rakesh Singh and Arun Kumar Deshmukh

In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus…

Abstract

Purpose

In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus. However, this adaptive strategy fails to benefit them if the selection of a computational price predictive model to disseminate information on the market outlook is not efficient, and the associated risk of perishability, and storage cost factor are not assumed against the seemingly favourable market behaviour. Consequently, the decision of whether to store or sell at the time of crop harvest is a perennial dilemma to solve. With the intent of addressing this challenge for agricultural producers, the study is focused on designing an agricultural decision support system (ADSS) to suggest a favourable marketing strategy to crop producers.

Design/methodology/approach

The present study is guided by an eclectic theoretical perspective from supply chain literature that included agency theory, transaction cost theory, organizational information processing theory and opportunity cost theory in revenue risk management. The paper models a structured iterative algorithmic framework that leverages the forecasting capacity of different time series and machine learning models, considering the effect of influencing factors on agricultural price movement for better forecasting predictability against market variability or dynamics. It also attempts to formulate an integrated risk management framework for effective sales planning decisions that factors in the associated costs of storage, rental and physical loss until the surplus is held for expected returns.

Findings

Empirical demonstration of the model was simulated on the dynamic markets of tomatoes, onions and potatoes in a north Indian region. The study results endorse that farmer-centric post-harvest information intelligence assists crop producers in the strategic sales planning of their produce, and also vigorously promotes that the effectiveness of decision making is contingent upon the selection of the best predictive model for every future market event.

Practical implications

As a policy implication, the proposed ADSS addresses the pressing need for a robust marketing support system for the socio-economic welfare of farming communities grappling with distress sales, and low remunerative returns.

Originality/value

Based on the extant literature studied, there is no such study that pays personalized attention to agricultural producers, enabling them to make a profitable sales decision against the volatile post-harvest market scenario. The present research is an attempt to fill that gap with the scope of addressing crop producer's ubiquitous dilemma of whether to sell or store at the time of harvesting. Besides, an eclectic and iterative style of predictive modelling has also a limited implication in the agricultural supply chain based on the literature; however, it is found to be a more efficient practice to function in a dynamic market outlook.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 10 August 2021

Ravineet Kaur, Rakesh Kumar Sharma and Apurva Bakshi

Advertising clutter has fueled the rise of nontraditional advertising methods. The current study, conducted in India, adopted the consumer socialization framework to…

Abstract

Purpose

Advertising clutter has fueled the rise of nontraditional advertising methods. The current study, conducted in India, adopted the consumer socialization framework to assess product placement attitudes and behaviors.

Design/methodology/approach

A questionnaire-based survey was conducted to gauge consumers' responses to product placements. Structural equation modeling (SEM) was applied to analyze the relationship between different variables.

Findings

The results revealed that young Indian adults are positive about product placements as they believe that incorporating brands into the content adds realism. The authors found that socialization agents significantly impact viewers' attitudes toward product placements which in turn influence their purchase intentions. The authors also found that product acceptability impacts consumers' purchase intentions.

Practical implications

This paper provides important insights into consumers' perceptions of product placements. Based on the findings, marketers can formulate effective product placement strategies.

Originality/value

Most of the studies existing in this area have been conducted in the developed markets except a few which have been conducted in the emerging markets. Hence, the present study is an attempt to fill this research gap. This study is among the first to establish a relationship between product acceptability and consumers' purchase intentions.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 25 November 2020

Anil Kumar Goswami, Rakesh Kumar Agrawal and Meghna Goswami

The purpose of this study is to explore, understand and investigate the relationship between national culture and knowledge management (KM) process.

Abstract

Purpose

The purpose of this study is to explore, understand and investigate the relationship between national culture and knowledge management (KM) process.

Design/methodology/approach

This study is based on systematically and objectively capturing the contents of extant research papers published by researchers in this area by using the literature review methodology.

Findings

The study demonstrates significant relationship between national culture and KM process. Further, it also provides directions for future research.

Practical implications

The study will help top management to understand and appreciate the impact of national culture on KM process in organization, where people from different nations are working together. The management may apply appropriate organizational interventions to manage people of different national cultures in effective manner and effective utilization of knowledge of the organization through KM process. This paper will be considered as a quick reference and resource for anyone interested in this area.

Originality/value

This study is a comprehensive literature review of influence of national culture on KM process. Further, it also sets the research agenda for future researchers.

Details

Benchmarking: An International Journal, vol. 28 no. 4
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 17 March 2021

Rakesh Raut, Vaibhav Narwane, Sachin Kumar Mangla, Vinay Surendra Yadav, Balkrishna Eknath Narkhede and Sunil Luthra

This study initially aims to identify the barriers to the big data analytics (BDA) initiative and further evaluates the barriers for knowing their interrelations and…

Abstract

Purpose

This study initially aims to identify the barriers to the big data analytics (BDA) initiative and further evaluates the barriers for knowing their interrelations and priority in improving the performance of manufacturing firms.

Design/methodology/approach

A total of 15 barriers to BDA adoption were identified through literature review and expert opinions. Data were collected from three types of industries: automotive, machine tools and electronics manufacturers in India. The grey-decision-making trial and evaluation laboratory (DEMATEL) method was employed to explore the cause–effect relationship amongst barriers. Further, the barrier's influences were outranked and cross-validated through analytic network process (ANP).

Findings

The results showed that “lack of data storage facility”, “lack of IT infrastructure”, “lack of organisational strategy” and “uncertain about benefits and long terms usage” were most common barriers to adopt BDA practices in all three industries.

Practical implications

The findings of the study can assist service providers, industrial managers and government organisations in understanding the barriers and subsequently evaluating interrelationships and ranks of barriers in the successful adoption of BDA in a manufacturing organisation context.

Originality/value

The paper is one of the initial efforts in evaluating the barriers to BDA in improving the performance of manufacturing firms in India.

Details

Industrial Management & Data Systems, vol. 121 no. 9
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 25 February 2020

Rakesh D. Raut, Bhaskar Gardas, Sunil Luthra, Balkrishna Narkhede and Sachin Kumar Mangla

The objective of this article is to carry out the driving power and dependency analysis of green human resource management (GHRM) indicators of the automotive service…

1482

Abstract

Purpose

The objective of this article is to carry out the driving power and dependency analysis of green human resource management (GHRM) indicators of the automotive service sector to identify the most significant ones.

Design/methodology/approach

The GHRM indicators were identified through exhaustive literature search and validated through the semi-structured interview with 15 domain experts. The ‘Total Interpretive Structural Modelling (TISM)’ approach was applied for exploring the contextual relationship between the indicators and simultaneously developing their structural hierarchy. The MICMAC analysis was used for categorising the indicators based on their ability to influence the other ones.

Findings

In the present study, indicators namely ‘Green organisational culture and adoption of green strategy (C5)’ and ‘Green training and development (C1)’ were found to be the significant ones, whereas ‘Green employee relations and union-management (C10)’ was found to be highly dependent on the rest of the indicators.

Research limitations/implications

The proposed model has been developed in the Indian context and is limited to the automotive sector. However, the same model may apply to other domains of different economies by carrying out slight modifications to the same. Also, the inputs taken from the experts of the case sector could be biased. For the HR professionals, the present study helps to identify the key indicators which need to be considered for enlightening the environmental performance of the service organisation.

Originality/value

This research adds a significant assessment to the current knowledge base by assessing the contextual relationship between the indicators of GHRM as none of the past studies focused on the same by using the TISM method in the Indian service sectors context.

Details

International Journal of Manpower, vol. 41 no. 7
Type: Research Article
ISSN: 0143-7720

Keywords

Article
Publication date: 31 August 2021

Rakesh Kumar Verma and Rohit Bansal

This paper aims to identify various macroeconomic variables that affect the stock market performance of developed and emerging economies. It also investigates the effect…

1679

Abstract

Purpose

This paper aims to identify various macroeconomic variables that affect the stock market performance of developed and emerging economies. It also investigates the effect of these factors on the stock markets of both economies. The impact of these variables on broad market indices and sectoral indices is investigated and compared too.

Design/methodology/approach

The publications for the study were retrieved from databases such as Emerald Insight, EBSCO, ScienceDirect and JSTOR using the keywords “Macroeconomic variables” and “Stock market” or “Stock market performance.” The result demonstrated a growing corpus of scholarly work in the domain of stock market. The study was carried out separately for each macroeconomic indicator. Given a large number of articles under consideration, the authors began by reading the titles and abstracts of all publications to identify those that were relevant. The papers are evaluated in Excel and the articles for review range from 1972 to 2021.

Findings

The authors found that gross domestic product (GDP), FDI (Foreign Direct Investment) and FII (Foreign Institutional Investment) have a positive effect on both emerging and developed economies’ stock market while gold price has a negative effect. Interest rates had a negative impact on both economies except for a few developing countries. The relationship with oil prices was positive for oil exporting countries while negative for oil importing countries. Inflation, money supply and GDP are the macroeconomic variables that have the same effect on sectoral indices as they do on broad market indices. The impact was sector-specific for the remaining variables.

Research limitations/implications

This paper gives an overview of relation and effect covering variety of macroeconomic variables and stock market indices. Still, there is a scope for further research to analyze the effect on thematic, strategy and sectoral indices. A longer time horizon with new variables, such as bank deposit growth rate, nonperforming assets of banks, consumer confidence index and investor sentiment, can be studied using high-frequency data. This research may help stakeholders adopt and manage their policies during a crisis or economic slump.

Practical implications

This study will assist investors, researchers and educators in the fields of economics and finance in understanding how macroeconomic factors affect the stock market. Furthermore, this study can guide in portfolio diversification strategy across multiple sectors by examining the impact of macroeconomic factors specific to sectoral indices. This paper provides insight into society and researchers since it integrates a number of macroeconomic variables and their interaction with the stock market. It may also help pension funds and mutual fund firms to hedge their funds and allocate equity portfolios.

Originality/value

With respect to India, this study looked at new macroeconomic variables and sectors. It contrasted the impact of these variables in developed and developing economies. The effect of broad and sectoral stock indexes was also investigated and compared. The authors examined how these variables responded during crisis and economic downturns by using articles from a longer time frame. This research also looked into how changing the frequency of data for the variables altered stock performance. This paper emphasized the need for more research into thematic, strategy and broad market indices, such as small-cap and mid-cap indices.

Details

International Journal of Emerging Markets, vol. 16 no. 7
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 16 December 2021

Inayat Ullah and Rakesh Narain

The importance of supply network flexibility (SNF) in the development of mass customization capability (MCC) has been implied in the literature but seldom subjected to…

Abstract

Purpose

The importance of supply network flexibility (SNF) in the development of mass customization capability (MCC) has been implied in the literature but seldom subjected to empirical investigation. To fill the gap and contribute to MC literature, this paper aims to examine the role of SNF in facilitating the development of MCC of organizations. Furthermore, it has been investigated whether the use of information and communication technologies (ICTs) strengthens the above relationship.

Design/methodology/approach

Drawing on the supply chain literature and dynamic capability theory, the study proposes a research framework depicting the interconnectedness among the variables of interest. The proposed framework has been tested using structural equation modelling based on partial least squares by using the data collected from a questionnaire-based survey of a sample of Indian manufacturing organizations.

Findings

The findings indicate that the dimensions of SNF, namely, sourcing flexibility and supplier flexibility, positively affect the MCC of the organizations and the strength of these relationships is further amplified by the implementation of ICTs.

Practical implications

The study shows the managerial opportunities for the development of a flexible and competent supply network to facilitate the development or enhancement of MCC.

Originality/value

This study contributes to scant literature by providing empirical evidence for the relationship between SNF and MCC. Further, this study enriches the understanding of the crucial role of ICT by exploring its moderating effect on the relationship between the variables of interest.

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