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Case study
Publication date: 31 March 2014

Anurag K. Agarwal

The case deals with the Supreme Court's decision of August 31, 2012, ordering Sahara to refund Rs. 24,000 crores and interest to SEBI, so as to refund to the real…

Abstract

The case deals with the Supreme Court's decision of August 31, 2012, ordering Sahara to refund Rs. 24,000 crores and interest to SEBI, so as to refund to the real investors. Despite unambiguous orders, Sahara did not comply fully and kept on prolonging the matter using number of pretexts, ultimately resulting in Roy's arrest. The case has been primarily written for easy understanding of facts, principles of corporate governance, and further developments, as mentioned in judgment, which runs into hundreds of pages. It depicts the legal journey of the fight between a company and the financial regulator in the country.

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Indian Institute of Management Ahmedabad, vol. no.
Type: Case Study
ISSN: 2633-3260
Published by: Indian Institute of Management Ahmedabad

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Panel Data and Structural Labour Market Models
Type: Book
ISBN: 978-0-44450-319-0

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Article
Publication date: 7 June 2019

M. Adnan Kabir and Ashraf Ahmed

The purpose of this paper is to investigate the factors that are significant in contributing to the per capita income growth of countries that are experiencing or have…

Abstract

Purpose

The purpose of this paper is to investigate the factors that are significant in contributing to the per capita income growth of countries that are experiencing or have experienced the lower-middle and upper-middle income traps.

Design/methodology/approach

The study comprises 85 countries over the period 1960 to 2017 spanning across three income groups: lower-middle, upper-middle and high. A panel data structure was used to run a fixed effect and random effect estimation on three models of income groups. The Hausman specification test, which was used for further statistical fitness, confirmed the appropriateness of fixed effect over the random in explaining the estimation of factor variables.

Findings

The results show that unemployment is a pervasive problem that negatively affect countries at all income levels. Foreign direct investment and population of dependents are associated with economic progression of countries that have experienced or are experiencing the lower-middle income trap. Furthermore, rising income inequality and foreign aid assistance are detrimental to countries that have experienced or are experiencing the upper-middle income trap. Moreover, income inequality, disproportionate urban population and rising dependent population are damaging for high income countries that never experienced any of the middle-income traps. Conversely, openness to trade, inflation and exchange rate volatility had limited capacity in explaining growth dynamics.

Research limitations/implications

This study could not incorporate geopolitical, demographic, geographical and other such exogenous factors, which could have episodes of influences on the economic development of countries. These were outside the study's realm of quantitative analysis.

Originality/value

This paper contributes to existing literature by providing an empirical cross-sectional comparative analysis of countries belonging to different income groups. The prevailing literature lacks such a cross-tabulated presentation of factors affecting countries that avoided the middle income trap and those that could not.

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International Journal of Development Issues, vol. 18 no. 2
Type: Research Article
ISSN: 1446-8956

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Article
Publication date: 9 January 2019

Khee Giap Tan, Nguyen Trieu Duong Luu and Sangiita Yoong Wei Cher

The paper offers the first systematic and comprehensive analysis of dynamics of economic growth slowdown for India at the sub-national level covering the period 1993–2013…

Abstract

Purpose

The paper offers the first systematic and comprehensive analysis of dynamics of economic growth slowdown for India at the sub-national level covering the period 1993–2013. In light of India’s regional diversity and variation in terms of gross regional domestic product (GRDP) per capita, the purpose of this paper is to empirically investigate the growth dynamics at the sub-national level. The paper aims to answer two questions: first, are determinants of economic slowdown likely to differ across income groups? Second, what are the probabilities that the sub-national economies in India will experience a growth slowdown in the near future?

Design/methodology/approach

The paper undertakes a comprehensive analysis of growth slowdown for 106 Asian developing economies encompassing the national economies in ASEAN and the sub-national economies in Greater China, Indonesia and India. To be sure, the authors are not making any direct comparison to countries at different stages of economic development; rather, the comparison is between economies/sub-national economies that fall in the same income category. The authors construct income group-specific logistic model to identify the relevant determinants of growth slowdown and use Bayesian model averaging techniques as a robustness check. The authors also compute economy-specific predictive probabilities of growth slowdown over the period 2012–2017.

Findings

The empirical results show that a growth slowdown in various income groups tends to be associated with different sets of determinants, although broadly, across all income groups, the occurrence of growth slowdown is positively associated with higher GRDP per capita. The average predictive probability of growth slowdown for India’s sub-national economies is 0.43, indicating that, on average, India’s sub-national economies have a 43 per cent chance of experiencing growth slowdown in the 2012–2017 period. Overall, the prospects of the sub-national economies of India are less worrying than that of Greater Chinese economies but bleaker than the outlook for economies in ASEAN and Indonesia.

Originality/value

The research contributes to the understandings of growth dynamics, especially the issue of growth slowdown, in India. This paper differs from the existing literature on growth dynamics by being India centric and analysing the issue of growth slowdown at the sub-national level. Despite a steady increase in the level of GRDP per capita for the sub-national economies of India since 1993, significant disparities still exist across economies. Identifying determinants of growth slowdown and subsequently computing predictive probabilities serves as early warning signs for policy-makers and generates insights on how development policy can be shaped.

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International Journal of Social Economics, vol. 46 no. 3
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 1 August 2017

Catherine Earl, Philip Taylor, Chris Roberts, Patrick Huynh and Simon Davis

Population ageing, coupled with economic uncertainty and a shifting workforce structure, has directed the attention of public and organizational policy makers toward the…

Abstract

Population ageing, coupled with economic uncertainty and a shifting workforce structure, has directed the attention of public and organizational policy makers toward the potential contribution of older workers and skilled migrants in meeting labor supply shortages in ageing populations. This chapter presents labor supply and demand scenarios for 10 OECD countries and examines trends in the labor force participation of older workers against the backdrop of changes to the nature of work in an era of globalization, casualization, and, increasingly, automation. Brief analysis of each country’s situation and policy responses indicates that China, Japan, and Korea stand out as being at particular risk of being unable to maintain growth without undertaking drastic action, although their areas of focus need to differ. A limitation of the study is that GDP projections used in labor demand analysis were based on historical rates and represented past potential and a long-run average of historic economic output. Future research might also undertake comparative analysis of case studies addressing different potential solutions to workforce ageing. A key implication of the study is that there is a need to take a blended approach to public policy regarding older workers in a changing labor market. Where migration has historically been a source of labor supplementation, this may become a less viable avenue over the near future. Future shortfalls in labor imply that economies will increasingly need to diversify their sources of workers in order to maintain economic growth. For public policy makers the challenge will be to overcome public antipathy to migration and longer working lives.

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Age Diversity in the Workplace
Type: Book
ISBN: 978-1-78743-073-0

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Article
Publication date: 1 March 2013

Michael C. Linderman

This article provides background on the historical development of royal hospitality in India before the advent of commercial hospitality in the twentieth century. The aim…

Abstract

Purpose

This article provides background on the historical development of royal hospitality in India before the advent of commercial hospitality in the twentieth century. The aim of the paper is to insert into the historiography of commercial hospitality the ancient Indian practice of endowing pilgrim rest houses, or chattrams (choultry) for the temporary housing and feeding of travelers, religious mendicants, and other groups in Indian society. As a case study, the article focuses on the chattrams of the Maratha Kings of Tanjavur (Tanjore) in South India, especially during the reign of Raja Serfoji II (r. 1798‐1832). Serfoji, working from the palette of past practices of his forebears, expanded these practices of traditional Hindu religious hospitality to include more progressive and inclusive charity, education and hospitality during the late eighteenth and early nineteenth centuries. Serfoji's munificent activities in his chattrams pose a challenge to any characterization that royal elites adapted historically dormant or static institutions to practical usage in the twentieth century.

Design/methodology/approach

This article is based on archival research into the role of institution building in strategies of indigenous kingship in early colonial India. The primary methodology used is content and descriptive analyses of archival documents in the Tamil language related to chattrams constructed by the Maratha court of Tanjavur between 1739 and 1855 CE.

Findings

The archival data show that the Maratha court of Tanjavur, particularly under Raja Serfoji II (r. 1798‐1832), incorporated through the chattram institution a greater variety of social groups in its charitable mandate by expanding the traditional forms of pious and ceremonial hospitality of the court to include not only religious mendicants and pilgrims, but also students, staff and European guests as well. The article reveals the manner in which such practices could sustain aspects of the traditional relationship between ruler and subject while creating newly responsive forms of social outreach to wider constituencies by an indigenous court that had been reduced to titular status under the rise of the British East India Company after 1798.

Originality/value

As yet, there has been no systematic survey of the evolution of commercial hospitality in India, nor particularly one that includes the practice of charitable rest houses in pre‐modern India. This article focuses attention on the diversified social functions of these institutions in the early colonial period in south India, and introduces these institutions as a potential precedent of later forms of commercial hospitality.

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International Journal of Contemporary Hospitality Management, vol. 25 no. 2
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 9 January 2009

Ahmed Salman

This paper aims to examine Bangladesh's overall economy with special focus on strengths, weaknesses, opportunities, threats (SWOT) analysis, choosing right foreign direct…

Abstract

Purpose

This paper aims to examine Bangladesh's overall economy with special focus on strengths, weaknesses, opportunities, threats (SWOT) analysis, choosing right foreign direct investment (FDI) strategy, remittance inflow, lessons from South East Asian nations, risk factors and aftermath.

Design/methodology/approach

Phenomenological research has raised awareness and increased insight into Bangladesh's overall strength, weakness, opportunity and threat in terms of her current position in world economy. The approach is based on observation of the business environment, online research, a close watch on Bangladesh's economy, analysis of newspapers, books, brainstorming with co‐researchers for five years and 30 years of living and working experience in developing countries.

Findings

The research has found that Bangladesh is going to encounter series of economic hurdles in near future. A SWOT analysis of Bangladesh has uncovered her overall strength, weakness, opportunity and threat in terms of her current position in world economy. Despite some strengths and opportunities, Bangladesh has lots of weaknesses and threats that could seriously undermine nation's development process at any time. A holistic and concerted effort is much sought after to address those problems while capitalising on strengths and opportunities. Side by side, Bangladesh should try her level best to attract quality FDI. However, remittance inflow plays very crucial role in Bangladesh's economy. But deplorably, since it is almost impossible to follow the successful model of South East Asian nations, Bangladesh does not have any sure success formula of any country in hand to follow. In fact, many less successful countries will have to struggle for long uncertain period. And sadly, Bangladesh falls into that category indeed. In fact, Bangladesh's economy has been on an inherently unstable path that can only end in tears. But remittance inflow will act as lifeblood for Bangladesh's economy and it will slow down the total apocalyptic process indeed. However, considering the totality, Bangladesh must have to face several critical challenges at once even before embarking on the track of vision 2020! Truly, nightmare is just on!

Originality/value

This paper offers a holistic view that would guide a reader to identify key challenges of a typical least developed country.

Details

International Journal of Social Economics, vol. 36 no. 1/2
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 3 December 2018

Ogechi Adeola and Yetunde Anibaba

The predominance of certain adverse factors has historically de-motivated firms seeking to enter into the bottom-of-the-pyramid (BoP) markets due to the perception that…

Abstract

The predominance of certain adverse factors has historically de-motivated firms seeking to enter into the bottom-of-the-pyramid (BoP) markets due to the perception that BoP markets are impoverished and therefore unable to afford their products. However, Prahalad’s seminal study on BoP markets as potential sources of wealth may have influenced the mindset of marketers around the world to view the demographic at the BoP as prodigious product markets waiting to be mined. This chapter, therefore, explores how some multinational corporations (MNCs) may have successfully implemented BoP marketing in Nigeria against the backdrop of diffusion of innovation (DoI) theory. The DoI theory tries to explain how and why new ideas, product, structures, or phenomena (innovations), spread across users and social systems. It posits among other things that there are at least five conditions that define the rate of adoption of an innovation, including relative advantage, compatibility, complexity, trialability, and observability. The authors find in the context of case companies, MTN Communications, Promasidor (Cowbell), and Dufil Prima Foods (Indomie) Nigeria that these elements contribute to building a viable explanation for the wide adoption of their products in the Nigerian BoP markets. Regarding the economic viability of BoP markets, the authors find that MNCs may have to embrace a commitment to long-term profitability, focus on economies of scale as a basis for competitiveness, and realize that in BoP markets, defining a marketing model is a continuous process.

Details

Bottom of the Pyramid Marketing: Making, Shaping and Developing BoP Markets
Type: Book
ISBN: 978-1-78714-556-6

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Article
Publication date: 23 June 2014

Andrey Korotayev and Julia Zinkina

A substantial number of researchers have investigated the global economic dynamics of this time to disprove unconditional convergence and refute its very idea, stating the…

Abstract

Purpose

A substantial number of researchers have investigated the global economic dynamics of this time to disprove unconditional convergence and refute its very idea, stating the phenomenon of conditional convergence instead. However, most respective papers limit their investigation period with the early or mid-2000s. In the authors’ opinion, some of the global trends which revealed themselves particularly clearly in the second half of the 2000s call for a revision of the convergence issue. The paper aims to discuss these issues.

Design/methodology/approach

Several methodologies for measuring the global convergence/divergence trends exist in the economic literature. This paper seeks to contribute to the existing literature on unconditional β-convergence of the per capita incomes at the global level.

Findings

In the recent years, the gap between high-income and middle-income countries is decreasing especially rapidly. The gap between high-income and low-income countries, meanwhile, is decreasing at a much slower pace. At the same time, the gap between middle-income and low-income countries is actually widening. Indeed, in the early 1980s GDP per capita in the low-income countries was on average three times lower than in the middle-income countries, and this gap was totally overshadowed by the more than ten-time abyss between the middle-income and the high-income countries. Now, however, the GDP per capita in low-income countries lags behind the middle-income ones by more than five times, which is largely the same as the gap (rapidly contracting in the recent years) between the high-income and the middle-income countries. This clearly suggests that the configuration of the world system has experienced a very significant transformation in the recent 30 years.

Research limitations/implications

The research concentrates upon the dynamics of the gap in per capita income between the high-income, the middle-income, and the low-income countries.

Originality/value

This paper's originality/value lies in drawing attention to the specific changes in the structure of global convergence/divergence patterns and their implications for the low-income countries.

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Book part
Publication date: 11 November 2019

Ayushi Raichoudhury

Socio-economic development is multi-faceted. The major facets consist of: income, level of education, level of health, quality of infrastructure, sex ratio, level of…

Abstract

Socio-economic development is multi-faceted. The major facets consist of: income, level of education, level of health, quality of infrastructure, sex ratio, level of employment, industrial and agricultural development, and so on. In India, the progress of socio-economic development among the states is not even. This study makes a modest attempt to measure the socio-economic development among the states of India and highlight the disparity among them. In the same line of thought, a composite index based on several facets of socio-economic development has been developed in a holistic manner and the states are arranged accordingly based on the indices. Instead of studying the disparity of a particular facet across states, a composite index is a better measure. This study has utilized the varied dimensions of socio-economic development and a taxonomic approach to construct a composite index without making any assumptions on the raw data. The findings of the study also support the general perception of large disparity in socio-economic development status of the states in India.

Details

Methodological Issues in Management Research: Advances, Challenges, and the Way Ahead
Type: Book
ISBN: 978-1-78973-973-2

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