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1 – 10 of 63Rakesh Kumar Mishra and Sheeba Kapil
This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.
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.
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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.
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
Keywords
Rakesh Mishra and Sheeba Kapil
This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.
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
Keywords
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. However, this…
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.
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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 assess…
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.
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Amit Rakesh Sethi, Satyabhusan Dash, Abhishek Mishra and Dianne Cyr
Online customer communities have become a strategic tool for business-to-business (B2B) firms to drive collaboration among customers around the company’s products and services…
Abstract
Purpose
Online customer communities have become a strategic tool for business-to-business (B2B) firms to drive collaboration among customers around the company’s products and services. This paper aims to argue that the three social capital dimensions, that is, structural, relational and cognitive, themselves driven by brand community trust, can affect brand loyalty for the organization.
Design/methodology/approach
The authors use a survey to collect data and structural equation modeling to test the conceptual framework by collecting data from 214 participants across three online B2B communities operated by three technology firms in India.
Findings
Brand community trust is found to have a strong association with social network ties, identification and norm of reciprocity and shared vision. These three have concomitant effects on the quality of customer-to-customer (C2C) interactions. Such communication generates functional, emotional and social benefits, which, in turn, curate brand loyalty.
Practical implications
The authors’ findings guide community managers in leveraging such conversations in shaping customer loyalty for the corporate brand.
Originality/value
This work provides an integrated framework to explain the important role of C2C interactions in B2B online brand communities.
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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.
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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 priority in…
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.
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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 sector to…
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.
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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 of these…
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.
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