Search results

1 – 10 of 93
Content available

Abstract

Details

International Journal of Law and Management, vol. 57 no. 3
Type: Research Article
ISSN: 1754-243X

Content available
Article
Publication date: 7 September 2015

S.K. Shanthi, Sanjoy Sircar and K. Srinivasa Reddy

298

Abstract

Details

International Journal of Commerce and Management, vol. 25 no. 3
Type: Research Article
ISSN: 1056-9219

Content available
Article
Publication date: 16 November 2015

Sanjoy Sircar, Rajat Agrawal, SK Shanthi and K. Srinivasa Reddy

386

Abstract

Details

Journal of Strategy and Management, vol. 8 no. 4
Type: Research Article
ISSN: 1755-425X

Article
Publication date: 16 November 2015

Naveen Kumar Srivastava

The financial crisis of 2008-2009 was truly global in nature that affected all sectors and countries of the world. Being considered that a board of directors is the main…

1034

Abstract

Purpose

The financial crisis of 2008-2009 was truly global in nature that affected all sectors and countries of the world. Being considered that a board of directors is the main governance mechanism through which a company is governed and managed. The purpose of this paper is to examine the effect of the governance structure of a company on its financial performance during the period of financial crisis.

Design/methodology/approach

The study investigates the effect of board structure parameters – board leadership, directors and board size on the financial performance for 164 non-financial listed firms in India during the period of financial crisis of 2008-2009.

Findings

The study finds a significant positive effect with Chief Executive Officer duality, executive chairperson and proportion of inside directors on the firm’s financial performance. Independent directors have no significant influence, while non-executive (grey) director’s being affiliated with the firm has a negative influence on firm’s financial performance. A larger board has a negative relationship with the firm’s financial performance.

Research limitations/implications

The study is limited to large non-financial firms of the Bombay Stock Exchange-200 index. The study may be extended to include other firms to generalize the findings.

Practical implications

Results imply that during the period of financial distress, a company having more inside (or management) directors with an executive chairperson are in a better position to manage company resources with positive impact on financial performance. Companies with larger boards may find it difficult to take quick decisions, which ultimately affect their performance.

Originality/value

The study is original in its idea of assessing company strategy to adopt a suitable governance structure that can sustain its performance during the period of financial crisis.

Details

Journal of Strategy and Management, vol. 8 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 16 November 2015

Vanita Tripathi and Ashu Lamba

The purpose of this paper is to determine the motives of cross-border mergers and acquisitions (M & A) by Indian companies for the period 1998 through 2009. The…

2781

Abstract

Purpose

The purpose of this paper is to determine the motives of cross-border mergers and acquisitions (M & A) by Indian companies for the period 1998 through 2009. The study has also attempted to ascertain the post-merger paybacks realized by the sample acquirer companies. It also identifies the motives which help in improving the post-merger performance. The preference of the motives and post-merger paybacks realized across the development status of the host economy, age and industry of the company has also been found.

Design/methodology/approach

This paper uses a survey approach to collect the responses over the motives and post-merger paybacks. Statistical tools, namely, Likert scale, factor analysis, independent samples t-test and binary logistic regression have been used.

Findings

The study found that there are five motives of cross-border M & A – value creation, improvement in efficiency, market leadership, marketing and strategic motives and synergistic gains. The results also indicated that the acquirer firms expect cost and financial efficiency, stakeholders’ benefits and employee welfare post acquisition. The motive of value creation significantly improves the post-merger financial performance.

Research limitations/implications

The study has only considered the cross-border M & A but not domestic M & A.

Practical implications

The research is an attempt to understand the dynamics which are responsible for motivating Indian companies to go abroad for acquisitions. Thus, it would help the prospective Indian acquirer companies to focus on the motives which help in improving the post-merger financial performance.

Originality/value

This research paper is original as it explores the motivation of Indian companies for entering into cross-border M & A. It adds to the extant literature of cross-border M & A by emerging economies multinational enterprises.

Details

Journal of Strategy and Management, vol. 8 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 7 September 2015

Khanindra Ch. Das and Nilanjan Banik

The purpose of this paper is to examine the motivations behind Indian firms’ outward investment, i.e. whether these firms are investing abroad in search of market…

4982

Abstract

Purpose

The purpose of this paper is to examine the motivations behind Indian firms’ outward investment, i.e. whether these firms are investing abroad in search of market, resource, technology, strategic-assets, efficiency, etc. Outward FDI by Indian firms has increased considerably in recent years. Such investments have gone to more than hundred host countries and into various sectors. The higher volume of outward FDI following policy reforms requires examination of factors that have motivated Indian firms to invest in different host countries.

Design/methodology/approach

The empirical analysis is done for the period from 2008-2009 to 2011-2012 using firm-destination panel data with appropriate adjustment for clustering.

Findings

The analysis provides evidence of the existence of multiple motives behind such investments. Indian firms are found to have invested abroad in search of resource, technology (strategic-assets) and efficiency, whereas the evidence on market-seeking motive is found to be at best weak in the empirical analysis. The results are robust to the use of alternative sample of outward investing firms.

Practical implications

This analysis of firm-level motivation of outward FDI by Indian multinationals has pertinent policy implications as well. The presence of multiple motives implies that Indian firms could bring multiple benefits to the Indian economy through outward FDI.

Originality/value

The link between outward FDI and host country factors is examined at the firm level as against at the aggregative level using a comprehensive and unique official database on actual outward FDI made by Indian firms, originating from both manufacturing and non-manufacturing sectors, in the form of equity and loan.

Details

International Journal of Commerce and Management, vol. 25 no. 3
Type: Research Article
ISSN: 1056-9219

Keywords

Article
Publication date: 7 September 2015

Rudra P. Pradhan, Mak B. Arvin and Neville R. Norman

The purpose of this paper is motivated by research-based assertions that: the causes of economic growth in countries like India are not well understood; they are not…

Abstract

Purpose

The purpose of this paper is motivated by research-based assertions that: the causes of economic growth in countries like India are not well understood; they are not elucidated by using simple bivariate relationships between economic growth and other variables, taken one at a time; and dynamic linkages between growth, trade openness and financial sector depth are required for any comprehensive treatment of this inquiry.

Design/methodology/approach

This paper investigates the pivotal role of financial depth (defined as the relative importance in the economy of the banking sector or the stock market) and whether it bears any evidential relationship to trade openness and economic growth during the era of Indian post-globalization since 1990. Two key objectives are to uncover whether there is a long-run relationship between the variables and whether they can be said to cause one another. Autoregressive distributive lag (ARDL) bounds testing procedures and vector autoregressive error correction model (VECM) approaches were used to derive the results.

Findings

This paper affirms that the variables are indeed formally cointegrated. It was also found that trade openness, economic growth and financial sector depth Granger-cause each other.

Practical implications

This paper demonstrates that greater trade openness can predictably accelerate India’s economic growth. If policymakers wish to maintain sustainable economic growth in India, they can do so by encouraging both freer trade and financial market development in the long run.

Originality/value

No investigation of this type and sophistication has hitherto been performed for India. The methods developed for this study can also be applied to any of the vast range of countries for which dynamic growth-openness-financial depth interactions have not already been investigated.

Details

International Journal of Commerce and Management, vol. 25 no. 3
Type: Research Article
ISSN: 1056-9219

Keywords

Article
Publication date: 11 May 2015

Kenneth I Ajibo

This paper aims to argue that the Nigerian banking industry needs to adopt a risk-based regulation as a future regulatory model in the industry. The frequent distress and…

Abstract

Purpose

This paper aims to argue that the Nigerian banking industry needs to adopt a risk-based regulation as a future regulatory model in the industry. The frequent distress and failures in the industry have shown that reliance on recapitalisation and on credit rating information by the supervisors and investors to determine the health of the financial institutions is less than satisfactory. This is more so when agency ratings suffer accountability deficits.

Design/methodology/approach

This paper posits that while the regulation of the credit ratings is necessary for institutional accountability, it is never a substitute for oversight functions and due diligence exercise for both the supervisors and investors in the industry. This exploratory research paper is structured to cover the origin of banking regulation in Nigeria, the recapitalised efforts by the regulators, the problem with the agency ratings and why the future of Nigerian banking regulation should be risk-based.

Findings

This research paper posits that while reliance on recapitalisation strategy and agency rating publications is relevant in banks, the future of Nigerian banking regulation should be risk-based.

Originality/value

The Nigerian banking industry should develop effective risk-management structures in line with the international regulatory framework.

Details

International Journal of Law and Management, vol. 57 no. 3
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 16 November 2015

Rozeia Mustafa

The paper provides a holistic overview of already available academic literature of mobile banking, business model innovation and ecosystem and activity system perspective…

1812

Abstract

Purpose

The paper provides a holistic overview of already available academic literature of mobile banking, business model innovation and ecosystem and activity system perspective of business model concepts. The purpose of this conceptual paper is to initiate a debate for future research in the agenda highlighted in this paper.

Design/methodology/approach

In this paper, mobile banking business ecosystem of Easypaisa is used as an illustrative case to understand mobile banking business model innovation in the context of business ecosystem and activity system perspective.

Findings

Based on Porter’s view of mobile financial service (MFS) industry, it is suggested that patterns of business model innovation can be explained through business ecosystem and activity system. The notion of business model innovation can also be explained through integrated value chain of mobile network operator and its partners in the supply chain of MFS.

Research limitations/implications

This paper provides preliminary overview of the exiting academic literature on business model innovations, business ecosystem and activity system in the in the context of value network. Since this is only a literature review paper, therefore, no primary data have been collected for this case study through interviewing from the relevant people.

Originality/value

So far, no research has been conducted in Pakistan to address business model innovation in mobile banking sector in the context of business ecosystem and activity system perspective.

Details

Journal of Strategy and Management, vol. 8 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 16 November 2015

Christina Öberg and Tommy Tsung-Ying Shih

An ambiguous environment indicates how rules and interests may not be outspoken or clear. In an emerging industry sector, such ambiguity may follow from different sets of…

Abstract

Purpose

An ambiguous environment indicates how rules and interests may not be outspoken or clear. In an emerging industry sector, such ambiguity may follow from different sets of rules to adapt to, changes to these rules, and how various parties surrounding a firm act based on these rules and individual interests, interaction goals, and priorities. The purpose of this paper is to describe and discuss how a company balances its relationships with others to achieve strategic intentions in an ambiguous environment. Specifically, the paper focusses on innovation in the biopharmaceutical sector in Taiwan.

Design/methodology/approach

The empirical part of the paper is based on a single case study portraying multiple parties surrounding an innovative Taiwanese biopharmaceutical firm.

Findings

The paper points to how partner selection and interaction are highly affected by the ambiguous environment. Ambiguity leads to transactional exchanges on the domestic level, while the focal firm engages in collaborative, relational interaction with international parties to accomplish innovations.

Originality/value

The paper contributes to literature on company strategies in emerging sectors with its specific focus on innovation strategies, and how a company balances ways of interacting based on an ambiguous environment. To Asian management research, contributions include an in-depth description of company-level strategizing in Taiwan.

Details

Journal of Strategy and Management, vol. 8 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

1 – 10 of 93