Search results

1 – 6 of 6
Article
Publication date: 28 February 2023

Nemiraja Jadiyappa and Ram Kumar Kakani

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

Abstract

Purpose

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

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

International Journal of Managerial Finance, vol. 19 no. 5
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 3 August 2021

Nemiraja Jadiyappa, L. Emily Hickman, Ram Kumar Kakani and Qambar Abidi

The Indian Companies Act 2013 mandated auditor rotations in the financial year 2018–2019. Similar regulations are being considered in many countries, based on the assumption that…

1563

Abstract

Purpose

The Indian Companies Act 2013 mandated auditor rotations in the financial year 2018–2019. Similar regulations are being considered in many countries, based on the assumption that longer tenure is detrimental to audit quality; yet, the evidence from investigations of this assumption is inconclusive. This paper aims to examine the effect of moderating factors on the relation between audit quality and audit tenure, given the regulatory trend and the lack of consensus in extant literature.

Design/methodology/approach

This paper examines the relationship between audit quality and audit tenure among Indian firms from 2001 to 2015 and tests for moderating factors including auditor compensation, business group affiliation and chief executive officer (CEO) duality.

Findings

Contrary to the objective of mandatory rotations, this study finds that longer auditor tenure generally enhanced audit quality among Indian firms prior to mandatory rotations. However, for companies paying abnormally high compensation to auditors, this paper finds that longer tenure decreases audit quality, particularly if the firm is affiliated with a business group or firms where the CEO also serves as the board chair. Thus, the potential benefits of mandated shorter tenure appear to be confined to high-fee paying companies with a business group affiliation and/or a dual-role CEO.

Originality/value

This study is one of the first to examine conditioning factors that affect the relationship between audit quality and auditor tenure. Results suggest that regulations limiting auditor tenure would be beneficial only to the shareholders of a narrow group of firms; while for the majority of firms, limiting auditor tenure may actually be counter-productive.

Details

Managerial Auditing Journal, vol. 36 no. 5
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 7 March 2016

Sony Kuriakose and Justin Paul

Consolidation through mergers and acquisitions indicates one of the major outcomes of the financial transformation process and contemporary trend in the Indian banking sector…

1560

Abstract

Purpose

Consolidation through mergers and acquisitions indicates one of the major outcomes of the financial transformation process and contemporary trend in the Indian banking sector. Literature suggests that the pre-merger financials of banks are crucial in deciding the post-merger performance of merged entities. In this context, the aim of the present study is to provide insights on the strategic and financial similarities of merging partners in the bank mergers that occurred in the post-liberalization India.

Design/methodology/approach

This paper considers all bank merger deals in the post-liberalization period, which involve purchase consideration either in the form of stock or cash. Hypotheses about the strategic similarities and dissimilarities are tested. The study considers all important aspects such as relative size of targets, diversity of earnings, efficiency, financial leverage, prudential norms and profitability.

Findings

The study finds that banks are dissimilar in most of the key areas, and these might have an adverse impact on the post-merger performance.

Originality/value

The study is original because we take into account all the bank merger deals in the period, which involve purchase consideration either in the form of stock or cash.

Details

Review of International Business and Strategy, vol. 26 no. 1
Type: Research Article
ISSN: 2059-6014

Keywords

Article
Publication date: 12 August 2022

Prerna Ahuja and Navjit Singh

This all-inclusive bibliometric study aims to highlight the importance and shift of the researchers and the society towards the sustainable menstrual products (SMPs). This study…

Abstract

Purpose

This all-inclusive bibliometric study aims to highlight the importance and shift of the researchers and the society towards the sustainable menstrual products (SMPs). This study also provides insights for this taboo topic which needs to be addressed for improving the menstrual hygiene of women.

Design/methodology/approach

This study adopts a trio of systematic literature review, bibliometric analysis and content analysis of the research articles taken from the SCOPUS database. The influential journals, authors and countries were established with the bibliometric analysis. Most prestigious research articles were identified based on the page-rank analysis. The intellectual structure was established with bibliographic coupling through which various themes were identified. For the content analysis, thematic mapping and author keyword analysis was performed to gain deeper understanding of themes.

Findings

It was established that the taboo yet novel research domain of SMPs is a necessary step towards the improvement of hygiene of women as well as the economy. The products are here to stay making them a Classic; hence, more research normalizing their usage is necessary. From this analysis, research gaps providing directions to the researchers were identified.

Originality/value

To the best knowledge of the authors, this is the first study that provides a comprehensive review of the SMPs. The research methodology applied in this review involves the triad of systematic literature review, bibliometric and content analyses study that establishes an intellectual structure and provides an all-inclusive overview of this taboo research area.

Details

International Journal of Human Rights in Healthcare, vol. 16 no. 5
Type: Research Article
ISSN: 2056-4902

Keywords

Open Access
Article
Publication date: 2 May 2023

Juan Carlos Quiroz-Flores, Renato Jose Aguado-Rodriguez, Edisson Andree Zegarra-Aguinaga, Martin Fidel Collao-Diaz and Alberto Enrique Flores-Perez

This paper aims to find the best tools to influence the improvement of sustainability in food supply chains (FSCs) by conducting a systematic review of articles. The reader will…

1737

Abstract

Purpose

This paper aims to find the best tools to influence the improvement of sustainability in food supply chains (FSCs) by conducting a systematic review of articles. The reader will learn how the different industry 4.0 tools (I4.0T) benefit the FSC and the limitations of each tool.

Design/methodology/approach

A review of 436 articles published during the period 2019 to 2022 referenced in the Scopus and Web of Science databases was performed. The review was limited to articles published in English and directly related to Industry 4.0, circular economy and sustainability in the food supply chain.

Findings

The results show different contributions of I4.0, with some being more influential than others in improving sustainability in FSCs; for example, Internet of Things and Blockchain have been shown to contribute more toward transparency, traceability, process optimization and waste reduction.

Originality/value

The paper's contribution consisted of ranking according to their importance and the I4.0T that affect sustainability in FSCs by classifying the aspects of each tool and the sustainability factors through a categorization by the Analysis Hierarchy Process.

Details

International Journal of Industrial Engineering and Operations Management, vol. 6 no. 1
Type: Research Article
ISSN: 2690-6090

Keywords

Article
Publication date: 14 December 2021

Deepak S. Uplaonkar, Virupakshappa and Nagabhushan Patil

The purpose of this study is to develop a hybrid algorithm for segmenting tumor from ultrasound images of the liver.

Abstract

Purpose

The purpose of this study is to develop a hybrid algorithm for segmenting tumor from ultrasound images of the liver.

Design/methodology/approach

After collecting the ultrasound images, contrast-limited adaptive histogram equalization approach (CLAHE) is applied as preprocessing, in order to enhance the visual quality of the images that helps in better segmentation. Then, adaptively regularized kernel-based fuzzy C means (ARKFCM) is used to segment tumor from the enhanced image along with local ternary pattern combined with selective level set approaches.

Findings

The proposed segmentation algorithm precisely segments the tumor portions from the enhanced images with lower computation cost. The proposed segmentation algorithm is compared with the existing algorithms and ground truth values in terms of Jaccard coefficient, dice coefficient, precision, Matthews correlation coefficient, f-score and accuracy. The experimental analysis shows that the proposed algorithm achieved 99.18% of accuracy and 92.17% of f-score value, which is better than the existing algorithms.

Practical implications

From the experimental analysis, the proposed ARKFCM with enhanced level set algorithm obtained better performance in ultrasound liver tumor segmentation related to graph-based algorithm. However, the proposed algorithm showed 3.11% improvement in dice coefficient compared to graph-based algorithm.

Originality/value

The image preprocessing is carried out using CLAHE algorithm. The preprocessed image is segmented by employing selective level set model and Local Ternary Pattern in ARKFCM algorithm. In this research, the proposed algorithm has advantages such as independence of clustering parameters, robustness in preserving the image details and optimal in finding the threshold value that effectively reduces the computational cost.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 15 no. 3
Type: Research Article
ISSN: 1756-378X

Keywords

1 – 6 of 6