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The purpose of this paper is to develop a workforce optimisation model that maximises the profitability of a knowledge-based service organisation in the quaternary sector.

An optimisation model that allocates resources from different skillsets and seniority to projects that are delivered from several geographies has been developed in this paper. With the objective of maximising the profitability of a pipeline of projects, the model selects which projects to accept and which not to and indicates how many resources to hire for (or layoff from) each skillset-seniority-geography combination.

The paper discusses the model and its scalable nature. Through hypothetical scenarios, it is shown that the model, using a simple non-linear algorithm, converges to optimal solutions.

The model depends on inputs that are exogenously supplied by the organisation. The applicability of the outcome is dependent on them. However, on the other hand, it allows for the alignment of the outcomes with the strategic objective of the organisation.

The paper discusses the multi-dimensional nature of effective human resource allocation problem. It not only maximises profitability but also allows organisations to strategically screen projects. With proper calibration and minor modifications, the model may be used to allocate resources across the knowledge-based industry.

The paper integrates the demand and supply-side problems of workforce allocation to projects in a novel way to form a tractable model that is pragmatic and applicable.

The study aims to examine whether management education can successfully cultivate the competency of empathy that is needed in future corporate leaders to promote sustainability initiatives catering to diverse stakeholders.

The research highlights the impact of management education on cognitive and affective empathy by analysing the interpersonal reflectivity scores of entering students enrolled in a two-year, full-time MBA programme and the scores of the same students at graduation.

The findings show that management education has a positive impact on cognitive empathy, while it reduces affective empathy and general empathy. Further, findings show that the management curriculum brings cognitive and affective empathy to an equilibrium level that is needed for a competitive business environment.

The research focussed only on the change in empathy of the participants (students) during management education and not during actual corporate work.

The research infers that current management education creates future executives with higher cognitive empathy. It argues that they would care more about the sustainability of the business in terms of profit or access to capital rather than care and concern for all the stakeholders, society and the environment. A new paradigm in management education also needs to be focussed around inculcating how to empathise affectively.

The study presents an empirical analysis suggesting that management education is opening the mind but not the heart. It raises a significant concern that higher management curriculum is not developing future executives who can lead the sustainability initiatives.

The study explores extant knowledge on the nature of the relationship between internal and external corporate governance mechanisms, particularly board characteristics and audit quality, respectively, while also investigating how the relationship varies across geographies.

The extant knowledge is synthesized using a meta-analysis, which is conducted using a sample of 56 empirical studies from publications of varying grades. The studies span over 25 years (1996–2021) and cover 147 empirical samples (343,787 firm-year observations) across more than 20 countries. The dependent variable is audit fees, and the independent variable captures 12 different measures of board characteristics.

Overall, the results reveal a positive association between board characteristics and audit fees, indicating complementarity between governance mechanisms. Effect size analysis shows board characteristics, like size and independence, are positively associated with audit fees. However, heterogeneity is noted for some characteristics, and further analysis by geography (developed vs emerging countries) explains the heterogeneity.

This study helps multiple stakeholders like firms, shareholders, boards, regulators and policymakers in designing and strengthening governance frameworks.

Both governance and auditing literature benefit from identifying specific board characteristics that drive audit quality consistently across different institutional settings and samples. Heterogeneity analysis helps improve the understanding of contradictions documented in prior literature.

This meta-analysis is the first to explore the interplay between internal and external corporate governance mechanisms, with a focus on board characteristics and audit quality. The study provides valuable insights on how different governance mechanisms influence each other while highlighting, for the first time, how the interaction between governance mechanisms varies by a country's level of development.

This paper introduces the concept of policy efficiency of banks as their efficiency in implementing the government's policies. It further compares the Indian public sector banks (PSBs) and private sector banks (PVBs) on two efficiency paradigms, operational efficiency and policy efficiency.

A three-stage analysis is carried out on data collected for 19 PSBs and 16 PVBs for ten years. Non-radial DEA with slack-based measure (SBM) is used to obtain efficiency scores of the banks for the two efficiency paradigms. The efficiency scores and the changes in efficiency and Malmquist index are further analysed by Tobit regression and seemingly unrelated regression (SUR) models.

PVBs are found to be more operationally efficient than PSBs. On the contrary, PSBs are found to be more policy efficient. Among the PSBs, the older and larger banks performed better in both the paradigms. Though Indian banks have become more operational and policy efficient over the years, the rate of improvement is slowing down.

Results imply that evaluating banks, especially PSBs, only on their operational efficiency is myopic. Their efficacies must also be measured by the roles they play on social and policy front. The loss of efficiency of Indian PSBs in a competitive environment should provoke thoughts of reforms. The study suggests that the proposed merger of PSBs to form large banks might be fruitful.

The study contributes to the literature by introducing the measure of policy efficiency. It shows that the Indian PSBs are indispensable as vehicles of government policy implementation.

The COVID-19 pandemic educed extraordinary policy responses globally, including in India, to flatten the infection-growth curve. The trajectories of infections, recovery, and deaths vastly differed across Indian states. The purpose of this study is to investigate whether persistent investments by states in critical social sectors, such as health and education, explain their preparedness and hence better management of the pandemic.

This study uses secondary data on the number of infected, recovered and deceased due to COVID-19, along with data on population and income across 302 districts in 11 major states in India. Data on health and education indices are collected at the state-level. Linear regression models that also control for heteroskedasticity are applied.

This study finds that higher investments in health care and education reduce the propensity of the infection spread. Further, states with persistent investments in health care and education exhibit a higher rate of recovery. This study also finds that death rates are significantly lower in states with higher investments in education.

The findings support the conjecture that states that have consistently invested in social sectors benefited from the associated positive externalities during the crisis that helped them manage the pandemic better.

This study will help policymakers understand the underlying social forces critical to the success in the fight against pandemics. Apart from improving preparedness for future pandemics, the evidence provided in the paper may help give better direction and purpose to tax-financed public spending in states where social sector development has hitherto received low priority.