Search results

The purpose of this paper is to examine how changes in creditors' rights affect the dividend policy behavior of corporate firms.

The authors use the implementation of the bankruptcy and insolvency code (IBC) in India in 2016 as a quasi-natural experiment setup. Differential application of this law allows them to use the Difference in Differences approach to extract the marginal impact of change in creditors' rights on the dividend policy.

The authors show that firms responded to strengthening creditors' rights by decreasing their dividend payout. Further, the authors observe that this negative response is conditioned on firm leverage and the nature of the creditor, i.e. public or private. The firms with a greater leverage ratio and a greater proportion of private debt in the total debt in the pre-event period have shown greater response to the change in the law. Lastly, the authors show that stock markets positively respond to the observed decrease in dividends only when a corresponding decrease in the leverage accompanies such a decrease.

The authors contribute to the finance and law literature from several aspects. First, the authors extend this stream by bringing to light the dividend policy response of firms when they are subjected to a change in creditors' rights. Second, the authors also show how firm-level factors like financial policy and the nature of the creditor condition their response to IBC. Lastly, the authors also examine the market reaction to the dividend policy response of firms to the change in bankruptcy law.

Dealers positioned at the downstream of the supply chains are those who can directly influence demand scenario for the manufacturer. However, manufacturer has to ensure that the influence is favorable by competitively fulfilling the anticipations of the dealers. In this regard, the purpose of this paper is focused on developing sustainable strategic relationships between manufacturer and dealer.

In this paper, the basic requirements of the dealers expected to be fulfilled by a manufacturer are analyzed by applying fuzzy Analytic Hierarchy Process and fuzzy Quality Function Deployment. The said approach is implemented in a case situation of a paint manufacturing company in India, and the results are analyzed to provide directions for the company to strategically align manufacturer–dealer relationships.

It was found that the case company has to focus mainly on promotions and advertisements, painters meet, and recognition offered to the dealers. Although pricing was also considered as one of the prominent aspects yet through competitive assessment the case company was found to be better off compared to its competitors.

As the results obtained in the current study are specific to a manufacturing environment, they cannot be generalized for all the companies. However, similar approach can be adopted for analyzing the customer requirements in order to achieve dealers’ attractiveness and satisfaction.

The application of proposed approach assists a manufacturer to pursue right strategy to practice for achieving dealer attractiveness and satisfaction. This will definitely help the supply chain managers to have the right requirements of the dealers’ are fulfilled on priority.

The quality of production is an essential factor for the performance measure of a system; a casting process is the same section. It is a type of metal-forming practice in which the required shape of metal is acquired by pouring molten metal into the mold cavity and allowing it to solidify. Casting is done to provide strength and rigidity to the parts of a system for bearing mechanical impacts. The purpose of this paper is to investigate the various aspects which affect the casting process in the foundry industry, in order to optimize the quality of casting, with the assumption that sufficient repair facility is always available.

The considered casting system can have many defects such as the mold shift defect, blowhole defect, defect of shrinkage and porosity, defect of inclusion, defect of cold shut and much more. The studied system can be in three states during the process, namely, good state, failed state and degraded state. The system can repair after minor failures as well as a major failure. The average failure rates of various defects of the system considered as constant and repairs follow the general time distribution. The system is analyzed with the help of the supplementary variable technique and the Laplace transformation for evaluating its various performance measures in order to improve its performance/production.

This work provides a strong understanding of the casting industry, that which failure affects the production of casting and how much. For better understanding, the results have been demonstrated with the help of graphs.

In the present paper, a mathematical model based on the casting process in manufacturing industry has been developed.

Ensuring safe operation of a urea fertilizer plant (UFP) is a vital aspect for its functioning and production. Clearly the safe operation of such systems can only be archived with proper and effective maintenance scheduling and through controlling its failures as well as repairs of the components. Also for this, the concern plant management must have the information regarding the failures that affects the system's performance most/least. The objective of this study is to analyze mathematically the factors that are responsible for the failure/degradation of the decomposition unit of UFP.

The considered system has been modeled by the aid of Markov's birth–death process with two types of failures for its components: variable (which are very similar in practical situations) and constant. The mathematical model is solved by the help of Laplace transform and supplementary variable technique.

In the present paper, the availability, reliability and mean time to failure (MTTF) are computed for the decomposition unit of the UFP. The critical components that affect the reliability and MTTF of the decomposition unit are identified through sensitivity analysis.

In this paper, a mathematical model based on the working of the decomposition unit of a UFP has been developed by considering two types of failure, namely, variable failures rates and constant failure rates (which has not been done in the literature for the decomposition unit). Conclusions in this paper are good references for the improvement of the same.

In this research work, the general form of reliability measures, which include availability, mean time to failure (MTTF), and sensitivity analysis, are investigated with their graphical representation, which would help designers and engineers improve the reliability of the system. Along with reliability assessment, a mathematical model is developed and solved to achieve the minimum cost of the system as well as maximum reliability.

In the proposed work, a general model of a solar seed sowing machine is considered for reliability evaluation using the Markov model process. The proposed system is a series-parallel arrangement of components where three components, namely the solar panel, batteries and direct current (DC) motor, are connected in series while all the operators are connected in parallel. The implemented Markov model approach assesses several parameters of reliability, which opens the scope for improvement in reliability and other measures like mean time to failure (MTTF) and sensitivity of the proposed system. So that the machine can deliver the desired output on the field. Also, the particle swarm optimization (PSO) algorithm is applied to optimize the cost of the system with the desired level of reliability.

Implementation of PSO provides the optimal cost for the proposed system with a predetermined level of reliability, which shows the relationship between reliability and cost of the system. Also, the Markov process approach provides the availability function, reliability function, reliability at different time values, MTTF and sensitivity of the proposed system.

This work evaluates the crucial characteristics of reliability for the proposed solar seed sowing machine using the Markov model which is a stochastic model. The assessment of reliability measures such as MTTF, availability and sensitivity plays a vital role in measuring and improving the performance of the machine in the actual environment. Examining the data obtained in this research is of great importance for the manufactures and system designers. Also, the powerful optimization technique PSO is implemented to solve a non-linear mixed-integer programming problem that provides the optimal cost for the system with desired reliability.

Risk management in the healthcare sector is a highly relevant sub-domain and a crucial research area from the humanitarian perspective. The purpose of this paper is to focus on the managerial/supply chain risk factors experienced by the government hospitals in an Indian state. The present paper analyzes the inter-relationships among the significant risk factors and ranks those risk factors based on their criticality.

The current research focuses on 125 public hospitals in an Indian state. Questionnaire-based survey and personal interviews were conducted in the healthcare sector among the inpatients and hospital staff to identify the significant risk factors. An integrated DEMATEL–ISM–PROMETHEE method is adopted to analyze the impact potential and dependence behavior of the risk factors.

The analysis asserts the absence of critical risk factors that have a direct impact on patient safety in the present healthcare system under investigation. However, the results illustrate the remarkable impact potential attributed to the risk factor, namely, staff shortage in inducing other risk factors such as employee attitudinal issues, employee health issues and absenteeism altogether resulting in community mistrust/misbeliefs. Maintenance mismanagement, monsoon time epidemics, physical infrastructure limitations are also found to be significant risk factors that compromise patient satisfaction levels.

Multiple options are illustrated to mitigate significant risk factors and operational constraints experienced by public hospitals in the state. The study warrants urgent attention from government officials to fill staff vacancies and to improve the infrastructural facilities to match with the increasing demand from the society. Furthermore, this research recommends the hospital authorities to start conducting induction and training programs for the hospital employees to instill the fundamental code of conduct while working in hectic, challenging and even in conditions with limited resources.

Only limited papers are visible that address the identification and mitigation of risk factors associated with hospitals. The present paper proposes a novel DEMATEL–ISM–PROMETHEE integrated approach to map the inter-relationships among the significant risk factors and to rank those risk factors based on their criticality. Furthermore, the present study discloses the unique setting of the public healthcare system in a developing nation.

The word “sustainability” is discussed in several ways since MDGs and SDGs have gained business attention. Sustainability is not just about something’s durability; it also looks at how to advance development projects without endangering the development of others nearby, both now and in the future (Fink, 2000). It is a drive that weaves together the different facets, including the social, economic, and environmental. World Economic Forum’s has emphasised the need for responsive and responsible leadership. It is in this context, the paper focuses on studying the transformational shift in the role and responsibility of leaders in demonstrating responsible leadership and discusses the ‘Locust and Honeybee Leadership styles’.

Literature portrays that responsible leaders are recognized by their qualities, competency and skills. One such model is “Locust and Honeybee Leadership,” where the two leadership styles are contrasted. The paper attempts to discuss the varied contexts of these leadership styles and attempts to draw a matrix on the commonalities of both set in an Indian context. A leader should always have openness of thought and integrity.

Value systems are important for a leader. The major challenge is developing globally responsible leaders and managers who can perform effectively under these conditions of enormous challenge, as they are chronically pushed beyond their capabilities into unexpected roles and unfamiliar domains. Situations compel leaders to make decisions, yet the styles determine the way the decisions are taken. The paper is unique as it discusses the commonalities and contrasting perspectives of the “Locust and Honeybee Leadership.”

The paper is limited to a small number of respondents and is set in Indian context.

To the best of the authors’ knowledge, the paper is an original piece of work and expresses thoughts of the authors on establishing a sustainable leadership model.

The theoretical concepts and frameworks from the following literature are brought in to discuss the case situation. Freeman’s stakeholder framework, Yukl’s Influence Tactics, Johnson and Scholes’ Power-Interest Matrix Please see: Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Pitman Publishing Inc. Yukl, G. (2002). Leadership in Organizations. Prentice-Hall. Johnson, G. and Scholes, K. (1999). Exploring Corporate Strategy: Text and Cases. Prentice-Hall.

Information required for the case was primarily collected from Lal Bahadur Shastri National Academy of Administration, Mussorie, India, where the newly recruited civil service officers (probationary trainees) of India are trained. The main protagonist, a senior officer in the Indian Administrative Services was interviewed by one of the authors. Secondary data from contemporary newspaper reports and government orders were also made use of.

Palakkad District Magistrate Gayathri Nair was tasked with acquiring 130 hectares of land for a government-sponsored public-private partnership project to set up a railway coach factory in Palakkad. After taking the landowners into confidence and fast-tracking the administrative process through the line departments, she successfully acquired 93 hectares of land for Phase I of the project. However, the intervention from local politicians and activists halted the next phase. Gayathri was pressured by her bosses to solve the standstill in four weeks. Unable to make the owners realize the benefits of the project, she witnessed a showdown between the agitating masses and the district administration. The entire episode is worsened by the partisan media coverage. The only options open to Gayathri, as the head of the district administration, are either to go ahead with forceful land acquisition and thereby, risk the wrath of the public or abandon the project and bury the months-long back-breaking teamwork. How could Gayathri handle the situation better? What steps could she take at various stages to ensure a balanced outcome for all the stakeholders in the project?

This case is applicable for the courses/sessions in training programmes for executives, and undergraduate courses related to project management, strategic management, leadership and public policy. It is also useful for courses and training programmes on stakeholder mapping and conflict management.

The purpose of this paper is to develop a mathematical model for the network design of a reverse supply chain in a multi-product, multi-period environment. The emission cost due to transportation activities is incorporated into the model to reduce the total cost of emission and study the significance of inclusion of emission cost on the network design decisions.

Mixed integer linear programming formulation is used to model the network. The developed model is solved and analysed using the commercial solver LINGO.

The mathematical model provides a unified design of the network for the entire planning horizon comprising of different periods. A reduction in the total cost of emission is achieved. The analysis of the problem environment shows that the network design decisions significantly vary with the consideration of emission cost.

A single mode of transportation is considered in this study. Also, a single type of vehicle is considered for the transportation purpose.

The developed model can aid the decision makers in making better decisions while reducing the total emission cost. The quantification of the emission cost due to transportation activities is presented in an Indian context and can be used for future studies.

An all-encompassing approach for the design of reverse logistics networks with explicit consideration of product structure and emission cost.

The purpose of this paper is to investigate the distinction and relationships between the significant strategic capabilities for managing risks in supply chains. This intersectional review exposes a substantial conceptual contradiction between the perspectives reported by various researchers. Further, the current paper classifies the literature into four categories according to the broad objectives investigated by the research papers.

Initially, a bibliometric analysis aligned with the concepts of a systematic literature review is conducted followed by a descriptive review focusing on models and methods. The software called BibExcel is utilized to extract and analyze the bibliographic information in a textual form from the research articles associated with strategic capabilities of the logistics sector. The results are exported to the software known as Gephi to visualize keyword co-occurrence analysis as networks. A well-structured descriptive review is also conducted to identify avenues for future research.

Despite conventional supply chain capabilities like efficiency and effectiveness, eight significant strategic capabilities of supply chains for managing risks are identified from the literature. These capabilities with positive connotations include flexibility, reliability, resilience, robustness, agility, adaptability, alignment and responsiveness. Considering the vast literature on flexibility/reliability along with its numerous dimensions and scope, the authors found that resilience, robustness, agility, adaptability, alignment and effectiveness are achievable through flexibility/reliability. Accordingly, it is appropriate to state reliability and flexibility as supply chain capabilities to achieve the other six supply chain competencies. Furthermore, the entire literature in this domain can be classified into four genres according to the addressed objectives, namely, concept development/validation, capability assessment, network design and performance evaluation.

The information revealed from the keyword co-occurrence analysis along with the research implications provided in the penultimate section will assist budding researchers in framing novel and promising research objectives. Supply chain administrators and policymakers can utilize the literature classification and the notable references provided in this review for locating potential methods for assessing supply chain strategic capabilities, designing the supply chain and evaluating the performance of the supply chain.

An integrated bibliometric and descriptive literature review procedure is utilized in this paper. Furthermore, this critical review is the first work on comprehensively mapping the research relationships among various strategic capabilities required for mitigating supply chain risks.