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Managers may underprice initial public offerings (IPOs), leading to higher initial returns (IRs). The purpose of this paper is multi-fold: to compensate investors for risk, to reduce litigation risk, as well as to maintain control over the firm. The authors examine country-level contingencies (degree of investor protection, legal origin and degree of transparency) in OECD countries to explain IPO IRs.

Cross-sectional data comprising of 4,164 IPOs from 28 OECD countries are used for the period of 2005-2010. Ordinary least square using multiple linear regressions is used to test the hypotheses.

Investors’ protection is associated with higher IRs. This relationship is stronger in the non-common law countries. Degree of transparency negatively moderates the relationship in common law countries. Overall, the results show evidence of risk compensation, litigation risk reduction, and managerial control motives in underpricing.

IPO IRs in OECD countries is examined, within the boundaries of institutional characteristics, i.e., investors’ protection, legal origin and transparency level.

The empirical support for agency theory explanations for the great variance in CEO pay has been equivocal. Drawing from the performance appraisal literature, we hypothesize that boards of directors incorporate human judgment into the evaluation and reward of CEO performance in order to balance managerial risk with agency costs. We test Baysinger and Hoskisson’s (1990) proposition that insider‐dominated corporate boards rely on subjective performance evaluation to reward the CEO, and we argue that R&D intensity influences this relationship. Using a sample of Fortune firms, findings support our contention that human judgment is important in evaluating and rewarding CEO performance.

The purpose of this paper is to show the applicability of data envelopment analysis (DEA) in arriving at an unbiased account of relative performance in a set of companies, using the pharmaceutical industry as an example.

A DEA‐based income efficiency measure of business performance for the pharmaceutical industry is computed. The pharmaceutical industry, which includes many multinational corporations with complex governance problems, and the strategies that allowed firm efficiency rankings to change over time, over ten recent years, are analyzed.

The analyses indicate that the inclines and declines in DEA efficiency rankings are related to the strategic choices made by the upper management.

The paper attempted to trace firm behavior post hoc to validate the DEA rankings. All relevant firm behavior may not have been captured; the paper only attempted to capture behavior reported in the respectable business press, which may introduce a bias.

The approach may be ideal to evaluate strategic managers (CEOs, general managers, and presidents) by board of directors, since it relates multiple performance indices to a meta‐measure of performance. Another group of beneficiaries include sector financial analysts. The approach adds a new dimension to sector analysis, to compare specific industries and identify the relative rankings of firms on multiple performance indices.

The paper demonstrates the usefulness of DEA in performance governance measurement by applying it to the pharmaceuticals industry.

Since corporate ventures operate under the organizational conditions of a parent company, this article aims to highlight key conditions influencing the success of a new venture.

Two cases of corporate venturing are analyzed regarding their performance since they are characterized by different conditions within one international consumer‐goods company. Hence, the literature on corporate entrepreneurship is reviewed and combined with a case study to explore the role and drivers of organizational conditions in the inception and development of new corporate ventures.

The case study reveals two key organizational differences pertaining to corporate new ventures — procedural clarity and procedural discipline. These differences mitigate the variety of risks that corporate entrepreneurs face and smooth or hinder their way to evolve their venture from ideas to business.

As the study includes two venturing cases within the same company in the fast moving consumer goods industry (FMCG), the findings are so far limited to the characteristics of this company type and its sector.

This article supports mid‐level managers to run corporate ventures more successfully by introducing a clear action plan with well defined phases. Individual managers' impact should be limited and linked to a more objective network‐structure.

In contrast to previous literature, this paper highlights the influence of organizational conditions under which corporate ventures are initiated and operated. Additionally, there are further factors identified, the ventures' internal visibility, and the knowledge support by the parent company, which will influence the venture's success or failure.

Intervention of artificial intelligence (AI) has brought up the issue of future job prospects in terms of the employability of the professionals and their readiness to harness the benefits of the AI. The purpose of this study is to recognize the implications of AI on employability by analyzing the issues in the health-care sector that if not addressed, can dampen the possibilities offered by AI intervention and its pervasiveness (Cornell University, INSEAD, and WIPO, 2019).

To get an insight on these concerns, an approach of total interpretive structural modelling, cross impact matrix multiplication applied to classification and path analysis have been used to understand the role of the critical factors influencing employability in the health-care sector.

This study primarily explores the driving-dependence power of the critical factors of the employability and displays hierarchical relationships. It also discusses measures which, if adopted, can enhance employability in the health-care sector with the intervention of AI.

Employability also has an impact on the productivity of the health-care service delivery which may provide a holistic opportunity to the management in health-care organizations to forecast the allocation and training of human resources and technological resources.

The paper attempts to analyze AI intervention and other driving factors (operational changes, customized training intervention, openness to learning, attitude toward technology, job-related skills and AI knowledge) to analyze their impact on employability with the changing needs. It establishes the hierarchical relationship among the critical factors influencing employability in the health-care sector because of the intervention of AI.

The application of knowledge management (KM) is critical to public sector firm as it is to private sector firm. However, despite its significance, the academic enquiry of KM in public sector is at its nascent stage. This forms the motivation of the present work; this paper aims to analyze and understand the intricate relationship between KM processes and public sector firm performance in terms of operational, quality and innovation performance.

A comprehensive KM processes–performance framework consisting of seven constructs (four constructs of KM processes and three constructs of KM performance) and their underlying factors was developed through an extensive literature review. The employee perceptions of these seven constructs were captured on a five-point Likert scale using a country-wide survey in the UAE public sector. The 270 valid responses captured were then used to first validate the KM framework and then test the hypothesized relationships between KM processes and KM performance.

The findings show that all four KM processes (knowledge creation, knowledge capture and storage, knowledge sharing and knowledge application and use) had a positive and significant impact on operational, quality and innovation performance of public sector in the UAE.

The findings confirm the validity and reliability of all the seven constructs and their underlying factors and the assessment framework. Overall, this study fills a gap in the literature about applying/implementing a KM framework for the public sector and therefore significantly contributes toward the theoretical advancement of the field. However, the study does acknowledge the use of perceptual measures of individual employees as a limitation instead of more objective measures to capture the impact KM processes on KM performance.

The strong and significant impact of KM processes on firm performance is expected to provide the impetus for practitioners and policymakers to implement and leverage from KM processes and improve firm performance in the public sector.

A comprehensive development, validation and assessment of a KM framework for the public sector has not been attempted previously anywhere, let alone UAE, and hence constitutes the novelty of this work.

Digital India, the flagship programme of Government of India (GoI) originated from National e-Governance Project (NeGP) in the year 2014. The programme has important aspect of information security and implementation of IT policy which supports e-Governance in a focused approach of Mission Mode. In this context, there is a need to assess situation of the programme which covers a study of initiatives and actions taken by various actor involved and processes which are responsible for overall e-Governance. Therefore, the purpose of this case study is to develop a Situation-Actor-Process (SAP), Learning-Action-Performance (LAP) based inquiry model to synthesize situation of information security governance, IT policy and overall e-Governance.

In this case study both systematic inquiry and matrices based SAP-LAP models are developed. Actors are classified who are found responsible and engaged in IT policy framing, infrastructure development and also in e-Governance implementation. Based on a synthesis of SAP components, various LAP elements were then synthesized then which further led to learning from the case study. Suitable actions and performance have also been highlighted, followed by a statement of the impact of the efficacy i.e. transformation of information security, policy and e-Governance on the Digital India programme.

On developing the SAP-LAP framework, it was found that actors like the Ministry of Electronics and Information Technology of the Govt. of India secures a higher rank in implementing various initiatives and central sector schemes to accelerate the agenda of e-Governance. Actions of other preferred actors include more investments in IT infrastructure, policy development and a mechanism to address cyber security threats for effective implementation of e-Governance. It was found that actors should be pro-active on enhancing technical skills, capacity building and imparting education related to ICT applications and e-Governance. Decision making should be based on the sustainable management practices of e-Governance projects implementation to manage change, policy making and the governmental process of the Indian administration and also to achieve Sustainable Development Goals by the Indian economy.

The SAP-LAP synthesis is used to develop the case study. However, few other qualitative and quantitative multi criteria decision making approaches could also be explored for the development of IT security based e-Governance framework in the Indian context.

The synthesis of SAP leads to LAP components which can bridge the gaps between information security, IT policy governance and e-Governance process. Based on the learning from the Situation, it is said that the case study can provide decision making support and has impact on the e-Governance process i.e. may enhance awareness about e-services available to the general public. Such work is required to assess the transparency and accountability on the Government.

Learning based on the SAP-LAP framework could provide decision making support to the administrators, policy makers and IT sector stakeholders. Thus, the case study would further help in addressing the research gaps, accelerating e-Governance initiatives and in capturing cyber threats.

The SAP-LAP model is found as an intuitive approach to analyze the present status of information security governance, IT policy and e-Governance in India in a single unitary model.

The Indian diamond cutting and polishing (CPD) industry enjoys a global leadership position, but at the same time is vulnerable to economic shifts in the global market. Historically, such shocks have resulted in shake down of the industry, including closures, bankruptcies, job losses and labour unrest. Most recently, the vulnerability was experienced during the economic recession of 2008, which impacted both entrepreneurs and diamond workers alike. The shock elicited different adaptation strategies from individual firms. The paper aims to understand the adaptation strategies of large and formally organized diamond enterprises in Surat, India, with particular reference to “labour hoarding” as a strategy for workforce management.

Using case studies of four large CPD firms, the paper investigates patterns in managerial decision making pertaining to workforce management and adaptation strategies taken during recession. The authors also traced the subject companies' performance post‐recession. The tool used for data collection was semi‐structured, in‐depth interviews with entrepreneurs and human resource managers. For additional inputs and triangulation of findings, content analysis of news reports, along with interactions with several knowledgeable persons from both industry and government, were conducted.

The authors' study of the sample firms neither supports the popular notion of “workforce retention by large diamond enterprises, in spite of recession” nor the generalized statements about “massive lay‐offs by all”, as reported in popular media. The authors found that, due to recessionary pressure, there was a deep managerial dilemma in the companies about how to strike the right trade‐off between workforce retention (labour hoarding) and downsizing. The paper argues that, post‐recession, the companies whose decisions were pro‐labour retention (hoarding) oriented were able to come back in business stronger and perform better.

The diamond industry of India is ethno‐bound in its functioning, where community and regional/linguistic affiliations of both workers and entrepreneurs traditionally played a vital role. Therefore, the employee management practices adopted do not strictly fall within the general realm of western management practices or popular HRM frameworks. The study shows that context‐dependent employee management strategies, suiting the need for maintaining the traditional ethno‐bound values even during recessionary pressure, created long‐term positive effects for the firm.

In part-I of this review series, research from Afghanistan, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka was reviewed. The purpose of this paper which is part-II of the series, is to review management research from India and Pakistan over a 25-year period from 1990 to 2014.

A systematic review approach was adopted for this research. As a quality standard for inclusion, articles were restricted to journals rated A*, A, or B by the Australian Business Deans Council in 2013 and either Q1 or Q2 in the Scopus/Imago classification system. The divisions and interest groups of the Academy of Management were used as framework to organize the search results.

A total of 1,039 articles related to India (n = 930) and Pakistan (n = 112) emerged from the search process, with three articles being related to both countries. The research was published in 163 different journals that met the quality criteria. The period under review coincides with the advent of economic liberalization in India and this emerged as a major theme in the India-related research. Other context-specific insights for these two countries are also derived from an ecological and institutional theory perspective.

This research represents the first comprehensive and systematic review of management research in India and Pakistan. As in part-I, the unique review approach allows for strict adherence to a predetermined quality standard while including a wide variety of journals and research traditions.

The purpose of this paper is to analyze and compare the characteristics of hybrid conventional complementary metal oxide semiconductor/magnetic tunnel junction (CMOS/MTJ) logic gates based on spin transfer torque (STT) and differential spin Hall effect (DSHE) magnetic random access memory (MRAM).

Spintronics technology can be used as an alternative to CMOS technology as it is having comparatively low power dissipation, non-volatility, high density and high endurance. MTJ is the basic spin based device that stores data in form of electron spin instead of charge. Two mechanisms, namely, STT and SHE, are used to switch the magnetization of MTJ.

It is observed that the power consumption in DSHE based logic gates is 95.6% less than the STT based gates. DSHE-based write circuit consumes only 5.28 fJ energy per bit.

This paper describes how the DSHE-MRAM is more effective for implementing logic circuits in comparison to STT-MRAM.