Recent Publications

YEAR WORKING PAPER SERIES

2015

Working Paper No.159, July 2015

Authors: 

Sofi Dinesh and Sangeetha Gunasekar

Title: 

Major Public Enterprises in India: 2000-2013

Abstract: 

“Temples of modern India” this was how the first prime minister of India, Pt. Jawaharlal Nehru addressed public enterprises of this country when it became independent in 1947. Since then the so called temples of Independent India have transformed themselves into competitive business entities of modern India. This paper is a tribute to their existence for the sustenance of the economy of India. When India became independent in 1947, being an agrarian economy, it was crippled with massive socio-economic problems like lack of infrastructural facilities, weak industrial base, inequalities in income and level of employment, lack of trained manpower, low level of savings, wide-spread regional imbalances in economic development, etc., to name a few. The private sector did not have the required skill, manpower, resources, or will power to undertake large scale developmental activities. The only practical solution to such a problem was development of the public sector enterprises with the aim of achieving self-reliant economic growth. Thus India adopted a mixed economy wherein both private and public enterprises played important roles for the development of the economy. The current study focuses on the major Indian public enterprises because India is one of the countries where an entire gamut of PE reforms have been implemented sequentially over the last decade including Memorandum of Understanding (MoU), partial privatization, deregulation and dereservation of public sector dominated monopoly industries.

Keywords:

Navratna, Maharatna, public enterprise, SEBI, public mission, public discourse, governance, MoU, privatization, divestment, investment, TBL, Five-Year Plan

2015

Working Paper No.158, June 2015

Author: 

Sajiv Madhavan, P. Balasubramanian and Amalendu Jyotishi

Title: 

Planning Fallacy: A case of Task Planning in IT Project Support Services

Abstract: 

Despite having been part of management literature and thought for almost six decades, Corporate Social Responsibility (CSR) remains, effectively, a concept sans definition. Its definition has been influenced, variously, by corporate and social culture, geographic location, industry norms, commercial norms and political expediency, to name a few factors. This ambiguity has led not only to inconsistencies in reporting on CSR but also added to the confusion surrounding the understanding of the concept. That corporations have an obligation towards the well being of the environment they operate in is widely accepted but what it is that they should do to ensure this well being and how those actions should be monitored and reported upon remains largely unexplained. Attempts at standardizing reports have also met with limited success due to the context specific nature of the concept. However, if it is accepted that the concept is a sound one and yet it defies attempts at defining, it is perhaps likely that it has been called a wrong name and consequently has been perceived differently than it should be. This paper suggests that a different construct dividing the issue into conceptual (CSR) and operational (Socially Responsible Sustainable Investment - SRSI) is the way forward. The case for such a dichotomy is demonstrated by discussing the consequent improvements in reporting and standardization of reporting formats.

Keywords:

Corporate Social Responsibility, Socially Responsible Sustainable Investment, Disclosure, Reporting

JEL Classifications: M14

2015

Working Paper No.157, April 2015

Authors: 

Deepika M G, Sangeetha G and Nadine Sander

Title: 

For Profit v/s Not- for- Profit MFIs in India: An analysis of difference in their performance using ANOVA and the factors influencing the performance of MFIs using Panel data Regression

Abstract: 

India’s microfinance sector has experienced high growth since its emergence in the 1980s. There are different models within the micro finance sector which offer different micro finance products and services. The microfinance institutions functioning as NBFIs for profit have been criticized for focusing too much on making profit and drifting away from their initial goal. The current regulation of MFIs is therefore limited to certain conditions specified in the Malegam Committee report and remains quite confusing at this moment until the new bill is drafted and passed in the parliament. In this context we examine if the commercial NBFC MFIs have gone on a mission drift and therefore are to be strictly regulated as proposed in the last bill which is seen through the financial, organizational and social performance of those MFIs in India in comparison to their NGO counterparts. We make a comparison of those indictors for the for-profit and not- for- profit MFIs in India using ANOVA and the factors influencing the financial performance of MFIs with Return on Asset as dependent variable using the panel data regression.

Keywords:

Microfinance, Non-Banking financial Companies, Non Governmental organization, Financial Sustainability, India

JEL Classifications:  G210; C520; M210; K220

2015

Working Paper No.156, March 2015

Author: 

Rajiv Nair and Amalendu Jyotishi

Title: 

What’s in a name? Reviewing the genesis of CSR

Abstract: 

Schedule and effort slippages are measures that practitioners in the Information Technology (IT) industry are all too familiar with. While we accept the fact that these slippages are realities of our day-to-day life, we put continual efforts to overcome or reduce the impact of these deviations. Our propensity to lose sense of time-taken and become over optimistic and thereby skew our planning is termed as planning fallacy. This research is to study the planning errors, the reason for such behavior, its ubiquity in IT industry and how remedial actions may reduce planning errors. The research methodology adopted was experimental design with random samples chosen as control and treatment group. The results of the study and experiments establish the overwhelming presence of planning fallacy in many areas of task planning. Our results on the treatment group demonstrate that this judgment bias could be reduced to a large extent by periodic monitoring and facilitation.

Keywords:

Behavioral Economics, India, IT support Service, Planning Fallacy, Project Planning

JEL Classifications:  B59, L20, M15

2014

Working Paper No.155, Aug 2014

Authors: 

Sangeetha Gunasekar and Rojalin Patri

Title: 

International Tourist Arrival in India: Impact of Mumbai 26/11 Terror Attack

Abstract: 

India experienced terror attack on its financial and entertainment capital-Mumbai on 26th November, 2008. There were twelve coordinated shooting and bombing attacks lasting four days, killing 164 and injuring several hundred (Press Information Bureau, GOI, 11 Dec 2008).The attack was largely targeted towards international tourists visiting Mumbai at the Hotels like Oberai Trident, The TajMahal Palace and Tower and Leopard Café. The objective of this paper is to study the impact of the 26/11 terror attack on the arrival of International tourists in India. In the literature, there are few studies that have analyzed the impact of terrorist attack on tourism industry (for more recent work see Raza and Jawaid, 2013; Arana and Leon, 2007). Our paper tries to add evidence to this growing literature. Further in analyzing tourist demand, several researchers (see Song et al., 2012 for a review) have studied the relationship between tourism and economic growth. While studies have found unidirectional relationship between international tourism and economic growth (eg.,Balaguer and Cantavella-Jorda,2002; Oh, 2005), there are others who find evidence supporting bidirectional relationship (eg., Kim et al., 2006; Dritsakis, 2004). In our study we assume a bidirectional relationship between foreign tourists arriving in India and its economic condition. In the present study we analyze the impact of 26/11 terror attack at Mumbai on the international tourist arrival in India. The analysis is done using vector auto regression model (VAR), where the foreign tourists arriving in India is a function of economic condition prevailing in the country, captured here by real gross domestic product of India and the terror attack dummy variable. Our results indicate that post 26/11 there is a significant decline in the number of foreign tourists arriving in India. We further analyze the disaggregated airport level data, where similar significant negative impact was found for Mumbai and Delhi airports.

Keywords:

Tourism, Terrorism, 26/11 attack, Mumbai attack, India

2014

Working Paper No.152, July 2014

Author: 

V.Murale and Juhi Singh

Title: 

Employee commitment &Patient satisfaction: An initial reflection from Indian Health care sector

Abstract: 

The objective of this study is to investigate the relationship between employee commitment and patient satisfaction with respect to health care Industry. The research will focus on the concept of employee (organizational) commitment. Emphasis will be placed on attitudinal aspects and behavioral influences, and the effect of human resources strategies and management practices on employee (organizational) commitment. Also, the concept of patient satisfaction, which has gained increasing attention from executives across the healthcare industry, will be explored in an attempt to enhance better patient experiences at hospitals. This research was conducted in two centers of a leading Medical service provider in Bengaluru city. The population for this study consists of all the employees directly interacting with the customers (excluding doctors), in the two centers .The total population was (N=50), as reflected on the personnel list obtained from the HR department of the organization. The Independent variable in this study is employee (Organizational) commitment, which was measured using Meyer, Allen, & Smith’s (1993) organizational commitment questionnaire and the dependent variable is patient satisfaction .A slight positive correlation between the employee commitment (affective component) and patient satisfaction is observed in our study, thereby highlighting the importance of employee commitment (especially the affective component) in organizations, particularly in the healthcare sector which is essentially a people-centric industry

Keywords:

Employee Commitment, Employee loyalty, Organizational commitment, Patient satisfaction.

2014

Working Paper No.151, June 2014

Authors: 

Nandalal M S, Pooja Sharma and Amalendu Jyotishi

Title: 

An Econometric Study of the Factors Influencing Sales of FMCG Firms in India

Abstract: 

Fast Moving Consumer Goods or FMCG is a highly competitive industry in India. Firms in this industry employ different mechanisms to enhance their sales. In this context, our paper attempts to understand and assess the factors that affect the sales FMCG firms. The demand for fast moving products is dependent on many factors. The existence and the entry of many multinational companies like P&G, Unilever, L’Oreal has made the industry very competitive and each of these companies spends heavily on advertisement and promotional activities. In this paper, therefore, we are keen to understand the effect of advertisement and promotional spending along with other factors on the sales of these companies. Growing Indian middle class, favorable policies, and a largely untapped rural market are all fuelling the growth of India’s FMCG industry. So, the relevance of this study can be looked through a wide spectrum of present and the future of the FMCG business in India.

Advertising expenses being one of the key indicators, our attempt is also to understand the influence of this factor on sales of the firm. We do so by defining a functional econometric model considering data of 26 companies over two years period. The approach allows estimating time-varying efficiency levels for individual firms without invoking strong distributional assumptions for technical inefficiency. The study is based on a sample of panel data on FMCG companies where sales is considered as the dependent variable. The independent variables considered include advertising expenses, employee cost, number of retailers and a few firm characteristics related dummy variables. Our study suggests that large, medium and small firms differ in their sales strategy. Besides, large sized firms are technically more efficient in sales compared to other types whereas the small firms are the least efficient firms in terms of sales.

Keywords:

FMCG, firm specific advantage, strategy, retail, advertising, sales and distribution

JEL Classifications:  M37, C01, D21

2014

Working Paper No.150, May 2014

Author: 

Pooja Sharma and Savita Bhat

Title: 

Understanding the Influencing & Motivating Factors behind Buying Patterns of Indian Rural Consumers: An Analysis

Abstract: 

Most of the popular models of consumer buying decision process have been put forth by researchers in developed countries and are mainly derived from urban scenarios. There are studies that propose that Indian rural consumers show deviations from the popular consumer buying decision models. However, there are limited empirical studies that investigate the above contention in specific buying scenarios. This paper is an exploratory research paper that attempts to understand the influencing and motivating factors behind the buying patterns of Indian rural consumers. It uses both qualitative and quantitative techniques. With the help of data collected through semi-structured interviews, the paper tries to analyze whether the rural consumers follow the sequential steps of the theoretical buying decision process model for purchasing convenience products. Further, by applying a logistic regression model, the paper tries to understand the factors affecting pre-purchase search efforts of Indian rural consumers. One of the findings of the paper is that Indian rural consumers do not exactly follow the phases of the popular consumer buying decision process. Another is that marketers may be able to successfully employ techniques like product-push via retailers, low-pricing and television advertisements to sell convenience products to Indian rural consumers. Although based on a small sample, the findings of the research are relevant for marketers and academicians who would like to gain valuable insights into Indian rural consumer buying decision process.

Keywords:

Buying Decision, Logistic Regression Rural Consumer, Rural Market, India, Influencing Factors, Motivating Factors, Convenience Goods

JEL Classifications:  M31, C2

2014

Working Paper No.151, April 2014

Authors: 

Marc-Antoine Diego GUIDI

Title: 

A study of the Factors Influencing Implementation of Waste Management Practices in India: A Case for Social Innovation

Abstract: 

Purpose– This paper aims to investigate the relationship between the various innovation processes at play in the implementation of solid waste management solutions, with a particular focus on pro-poor innovations developed in India. This paper also attempts to explain the factors that foster innovation, and proposes a framework model for social innovation at grassroots level.

Findings – In the cases we studied, we found that the underpinning factors of innovation’s implementation on the ground were often based on social aspects. We also observed that there was a broadmix of participants from various stakeholder groups, namely local and state institutions, corporations, academia, civil society as well as the local communities.

Keywords:

Social Innovation (SI), Waste Management (WM), Technical innovation, Social Entrepreneurship (SE), India

JEL Classifications:  I3, O32, Q53

2014

Working Paper No.150, March 2014

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

Water in Green Economy: Experiences from Rio +20 Conference

Abstract: 

The green economy focus of the Rio conference highlights the socio-economic opportunities of sustainable development. Water in the green economy is again an example of how improved basic water & sanitation services brings about socio-economic benefits & sets the basis for economic development & of the employment & economic opportunities that proper water management provides to social and economic development, including those from safeguarding fresh water ecosystems. The green economy agenda for water also provides the impulse for action and a focus on the need to shift from current practice; actions that are not merely the responsibility of governments but also of the private sector, other stakeholders and the civil society. Issues of access and water resources management are the core parts of the green economy agenda. The main objective of this paper is to establish the fact that if the commitments, the affirmations and the resolutions of the Rio + 20 Summit are implemented in a proper way, it could reform the environmental management and socio-economic development. It could renovate the economy, nourish the global community and attach importance to the people and the environment.

Keywords:

Water, green economy, Rio 20, sustainable development, environment

JEL Classifications:  Q25, O44, Q20, K32, Q58

2014

Working Paper No.149, February 2014

Authors: 

K.G. Satheesh Kumar and S. Rajeev

Title: 

Managing Exploration and Exploitation using Industry-level Integration as a Guide

Abstract: 

Firms need to ambidextrously manage the exploration - exploitation dichotomy of learning and innovation. An apparently unrelated variable is the level of vertical integration prevalent in the industry in which the firm operates. In this paper, we posit that there in fact is a useful predictive relationship between the two. The paper proposes a model by which business unit leadership may adjust the balance between exploration and exploitation, by emphasizing on the former around the crests of industry-level integration and the latter around the troughs. Higher the level of industry-level integration, higher the case for exploratory learning focusing on disruptive innovation; and higher the level of disintegration, higher the case for exploitative learning aimed at sustaining innovation. With such ambidextrous behavior, the firm has higher chance of surviving into the next cycle of innovation. The proposed model helps business unit leadership anticipate vulnerability to disruptive innovation and take advance action. It helps firms avoid a well-recognized and highly prevalent problem known as “innovator’s dilemma”, whereby established companies find it difficult to decide whether to focus on sustaining innovation or disruptive innovation.

Keywords:

Exploration-Exploitation; Sustaining Innovation; Disruptive Innovation; Integration-disintegration cycles; ambidexterity; innovator’s dilemma

JEL Classifications:  O14, O30, O31, O32, Q55

2014

Working Paper No.148, January 2014

Author: 

Deepika M G, Pooja Sharma, Gogulnathan R, Prashanth G and Sagar Indran

Title: 

Building an Effective Supply Chain Model for Kirana Stores through MFI Intermediation: A Market Potential Analysis

Abstract: 

Kirana stores form a large part of the unorganized retail in India. With the growth of organised sector retail and the consequences of allowing of Foreign Direct Investment in the sector, the Kiranas may slowly face a threat of extinction, especially in the metro cities. However, given their large presence in the suburbs and rural India and the demographic scenario of high percentage of lower income population, Kiranas will continue to have their presence in the country. Though the Kiranas offer great advantages to customers in terms of their location and access, they lack operational efficiency primarily due to poor economies of scale and lack of financial and technological resources. The paper tries to explore the possibility of building an effective supply chain model for Kirana stores through the provision of microfinance and other support services which has been ventured into by a company in Bangalore. Understanding the pain areas of these stores, a market potential analysis for a supply chain network has been conducted through a primary survey of the stores in the country. The broader objective of the study is to examine the potential and feasibility of building an efficient supply chain for the Kiranas with the intermediation of an MFI which would cater to their financial and procurement needs.

Keywords:

Retail, Microfinance, Unorganized retail, Supply chain, Kirana

2013

Working Paper No.147, December 2013

Authors: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

BRICS Delhi Summit: A Step towards Global Economic Governance

Abstract: 

BRICS (Brazil, Russia, India, China and South Africa) has developed into a vibrant co-operation mechanism. The New Delhi declaration of fourth BRICS summit reflects the evolution of a common vision and maturing relationship among member states in the current international system. The co-operation among BRICS nations is a reflection on the development of international situation as well as the desire and choice of emerging economies. The establishment of BRICS Development Bank is a crucial announcement for serving the development needs and aspirations of the emerging and developing world. So such an institution is expected to reshape and realign the global financial governance. The BRICS countries have committed to work together to address the deficiencies in global governance. BRICS has indeed displayed the spirit of unity, continued to enhance coordination, co-operation on global economy, finance, development and other major issues of common interest. The main thrust of this paper is to focus how BRICS has provided impetus for improved global economic governance and made a contribution to common development in the whole world. It establishes the fact that how it plays a great role to make the world economy more balanced, international order more equitable, global governance more efficient.

Keywords:

Brazil, Russia, India, China, South Africa, International economics, trade, commerce, investment, development bank, political economy and governance

JEL Classifications:  FO, F1, F40, F33, P48, G39

2013

Working Paper No.146, November 2013

Author: 

Ravi Urs, Rajiv Prasad and Vatsal Singh

Title: 

Talent Management in Organizations: A Review

Abstract: 

People are an integral part of a winning organization and talent management is important to organizations as it defines the characteristics of a company’s competitive landscape and leads to sustained advantage. Concepts like “War of Talent” by McKinsey and Company have stressed the importance of talent for survival and sustainability of organizations. Dramatic differences in bottom-line results have been observed in organizations with highly engaged employees compared to organizations whose employees had low engagement. External factors like demographic change, globalization and rise of knowledge workers are making organizations consider talent management seriously. Talent need has gone beyond organizations as even countries have realized the importance of talent in nation building. Talent management is defined as anticipating the human capital needs and taking steps to meet it. Successful talent management requires a sustained, three-pronged effort to recruit, engage and retain the best talent available. It is essential that every decision maker in the organization take responsibility for talent management. Organizations should develop an attitude that they need people more than people needing them. Failure of talent management can lead to extensive cost for both the individual and the organization. The reasons for failure of talent management are multifold ranging from misalignment between talent management strategies and business strategies to lack of succession planning. In this paper we look at why talent management is important? What are its challenges? Why does it fail sometimes? What needs to be done for better talent management? How recruitment, engagement and retention influence talent management? We also look at the roles of culture, commitment, supervisors, compensation, etc. and reasons for people leaving organizations.

Keywords:

Talent management, recruitment, engagement, retention

JEL Classifications:  M54

2013

Working Paper No.145, October 2013

Authors: 

G. Sandhya and Sushanta Kumar Mahapatra

Title: 

Assessing the Impact of Regulatory Regime on Consumers and Producers of Organic Products

Abstract: 

Understanding the regulations on various sustainable fronts has an implication over the manufacturers and suppliers of organic food product. In India the issue on regulations has to be given greater focus as there are high chances for default of the law by the lobbyists who are involved in corruption of the system. Hence the external regulatory factors have a major implication over the production, marketing and the and consumption behavior towards organic food. This paper deals with various regulations and regulatory bodies over the countries in the world that are into the commercial trade of organic food. The paper discusses the various regulatory factors that consumers take into consideration while choosing to purchase organic products or produce. The paper will give in a holistic idea as to what are regulations that the marketers will have to abide by when they produce and market organic food. And how stringent regulations can motivate and enhance consumption behavior by consumers.

Keywords:

Green Marketing, Green Harvesting, Organic products, Organic Certifications, Regulation

2013

Working Paper No.144, September 2013

Author: 

Hemamala K. and Sanjay Banerji

Title: 

Modeling Logistics Systems Using System Dynamics

Abstract: 

Logistics is a potential source of competitive advantage for a firm and can substantially affect the firm performance. A comprehensive insight of the structure and functioning of the logistics systems of the firm is essential to make strategic decisions that affect its performance. Small and medium enterprises (SME) are different in their composition, functioning and power structure from large enterprises and therefore face a different set of logistics challenges. This paper reviews the literature in logistics systems modeling and through the research gap identified it attempts to build a case for developing a conceptual model of the logistics system of the SMEs. The paper proposes the use of System Dynamics (SD) to develop a dynamic model of the logistics systems of manufacturing SMEs. This model could be used to understand the various design and improvement issues that impact on the logistics capabilities and performance of SMEs. The paper also proposes a research framework for the study.

2013

Working Paper No.143, August 2013

Authors: 

Gyanendra Singh Sisodia and Deepak Gupta

Title: 

Conceptual Framework for the Adoption of Solar Products in India

Abstract: 

Environmental pollution is increasing day by day, causing threat to the environment, and life on the earth. It is the highest time we should replace the usage of conventional energy by clean and green energy. Doing so would also cost us less, and we will also have a sustainable solution for it. Various solar technologies are available in the market, if these can be used by households than the environment will be saved from getting polluted further. However, it is not as easy as it looks theoretically. There is a big gap between manufacturing of solar technology and the adoption of it. In this paper a conceptual frame work is proposed, in which several stake holders represent their positions, and relationships. These stake holders are consumers, governments, banks, manufactures, suppliers, and marketers etc. that are linked together and are expected to play a major role in the successful adoption of solar technology. Article presents the role of stake holders as and when required. It also mentions the role of media, social perception, post adoption challenges and the managerial challenges

Keywords:

Model, Solar products, irradiance, adoption, finance

JEL Classifications:  D47, D64, E21, E44, F64, G20, H20, M3, Q55

2013

Working Paper No.142, July 2013

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

BRICS 2013: A Non-Western Vision

Abstract: 

The summit of the BRICS (Brazil, Russia, India, China and South Africa) nations, 2013 is a welcome step for bringing together five fast emerging countries from four continents when world economy running in a bad shape. The creation of Development Bank is really a better alternative to International Monetary Fund (IMF) and World Bank which bears a significant impact on the existing balance of authority and influence in international field. The BRICS contingent reserve arrangement is a pool of money to protect the member states against any future economic crisis, to provide mutual trust and further build up financial stability among BRICS countries. The Business Council is supposed to play a very active role in carving out an implementation plan to accelerate economic co-operation and partnerships between enterprises of BRICS nations in years to come. The combined economics of BRICS is a central factor in global economy. The BRICS is a good platform for working out global approaches to international problems. The BRICS rating agency is an act of principle along the lines of the new political and economic trends.

Keywords:

International economics, trade commerce, investment, development bank, political economy, rating

JEL Codes:  FO, F1, F40, F33, P48, G24

2013

Working Paper No.141, June 2013

Authors: 

Rema Viswanathan

Title: 

Consumption Practices of Urban Indian Middle- Class Women – A Qualitative Research Work

Abstract: 

Globalization and liberalization has helped India to become a fast growing economy during the last 10 years that has resulted in the emergence of the burgeoning middleclass consumers who through their consumption practices are driving the growth of the Indian economy. In this project an effort has been made to understand the ways the urban middle-class Indian women go about making their purchases, the factors that decide their choices and what influences their purchase decision and their opinions on the current consumption trends were also sought. The major theoretical frameworks that were adopted as a setting for embedding the discourses obtained during the participant - observation process conducted among the respondents are Appadurai’s Global modernity flows, description of the new middle class as described by Leela Fernandes, Mark Liechty & Margit Van Wessel, & Daniel Miller’s thoughts on material consumption. The ethnographic site chosen was Kundalhalli, near Whitefield in Bangalore. The sample consisted of 13 married, urban middle-class Indian women and the responses were obtained to a broad set of questions (discussion guide) through in-depth interviews - a qualitative research method. A conflicting discourse among the different age groups and the young children in the family could be perceived by the researcher with respect to the preservation of the old middle-class values that defined this senior group’s upbringing before the liberalization era i.e. hard work, meritocracy, saving & education, which are today to a great extent been diluted and dominated by consumption values. Based on what they did in their free time, what they enjoyed shopping for and where they shopped, conceptual categorization into three forms of consumption practices was attempted.

Keywords:

Consumption, Consumption practices, Middle-class, Indian woman, in-Depth Interviews, Purchase Decision, Discourse, Globalization, Ethnography

JEL Classifications:  C89, D19, E21, F6, M31, M3

2013

Working Paper No.140, March 2013

Author: 

Dheeraj K J, Rajkumar Mylvaganan, Pooja Sharma and Amalendu Jyotishi

Title: 

Factors Influencing Sales Efficiency Of Automotive Sector In India: A Panel Data Analysis

Abstract: 

This paper mentioned the main features of the Automotive Sector and identifies some important factors influencing the sales of the automotive sector in India. The Automobile industry in India shows a stable growth of sales due to the higher disposable income, decline in tax and interest rates. The research paper refers to the study of various factors which influences the sales in the automotive sectors including passenger vehicle, Total commercial vehicles, two wheelers, three wheelers and auto components. With the data review and analysis we would be able to identify the top performer and the low performing company for the period 2008 - 2010.The research methodology used for the paper is panel data analysis. For the analysis purpose the paper reviewed through various published literature about the automobile industry in India and factors direct and indirect affecting the industry.

Keywords:

Capacity Utilization, Automobile, Industry, Firm Performance, India

JEL Classifications:  L25, L62

2013

Working Paper No.139, February 2013

Authors: 

V. Murale and G. Prageetha Raju

Title: 

Role of Social Networks in a Knowledge Intensive firm: A case study From India

Abstract: 

The present paper aims at studying the knowledge flows through these social networks and knowledge maps are developed to illustrate the actual knowledge flow for better performance in a pharmaceutical company in India which has a global presence. It first, provides a literature review on the recent research and application of knowledge mapping and SNA, followed by a discussion of the concepts of SNA and KNA.

Keywords:

Social Network Analysis, Knowledge Networks, Knowledge Network Analysis, Knowledge Maps

2013

Working Paper No.138, January 2013

Author: 

Priya Gupta

Title: 

Understanding the Role of Traditional Panchayats In Village Society and In Disaster Mitigation: Observations from Coastal Odisha, India

Abstract: 

Village society in India has survived with the help of various intitutions that work within it to maintain the social order. One among these is the traditional panchayat, which was very commonly found in the villages of India. When it comes to the question of survival of communities, especially, during disasters the role of these institutions become even more crucial. Their role is very prominently seen in fishing communities. This paper discusses what roles the traditional panchayats (of which caste panchayat is a type) play in the occupational life of community in general and in the context of disasters in particular.

Keywords:

Disaster Management, Traditional Panchayat

2012

Working Paper No.136, November 2012

Authors: 

Amritpal Singh Dhillon and Hardik Vachhrajani

Title: 

Impact of Operational Efficiency on Overall Profitability- A Case Study of GIPCL

Abstract: 

This study applies Karle Pearson’s coefficient correlation tool to measure the impact of operational efficiency on overall profitability of Gujarat Industries Power Company Limited (GIPCL), based on published data during 2005-06 to 2010-11. Accounting Ratio i.e. Activity Ratio is a more important source of operational efficiency & overall profitability. Activity ratios include those ratios, which highlight upon to activity and operational efficiency of the business firm. Operational efficiency refers to the profitable, efficient and judicious use of resources (financial) available to an organization in perfect consonance with clearly laid-down financial policies relating to the operation. Using Karle Pearson’s coefficient correlation tool, correlation has been calculated & examined that insignificant positive correlation between operational efficiency and overall profitability exists, during research period. ‘t’-test was applied to accept & reject null hypothesis.

Keywords:

Accounting Ratio Analysis, Operational Efficiency, Overall Profitability, Activity Ratio

2012

Working Paper No.135, November 2012

Author: 

Deepika M G, Gautam Nambiar and Rajkumar M

Title: 

Forecasting Price and Analysing Factors influencing the Price of Gold using ARIMA Model and Multiple Regression Analysis

Abstract: 

With the investment demand for gold being on the rise, and a complex set of factors influencing the investment demand for gold, forecasting the price of gold is seen essential but difficult. The paper makes an attempt to forecast the price of gold in the short run through time series modelling using the monthly prices of gold, and identifying the factors influencing the price of gold in the long run through multiple regression analysis. One of the most widely adopted methods for time series modelling Autoregressive integrated moving averages (ARIMA) was used and tested to forecast prices using the monthly prices of gold for the period from 1980 to 2012. However, the model was not identified to be a fit for forecasting the price of gold. The paper then tries to identify the factors influencing the price of gold using the multiple regression analysis.

Keywords:

Price forecast, Time series modelling, ARIMA model, Multiple Regression Analysis, Distributed lag Model

JEL Classifications:  C22: C53

2012

Working Paper No.134, October 2012

Authors: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

Rising China

Abstract: 

China is the second largest economy in the world. It has become the world’s largest exporter and manufacturer. As a system of self determination, it is a part of an integrated perspective, involving the values of nationalism, social justice and people’s welfare. A significant aspect of China is its long cultural and national history. The Chinese people have shared a common culture longer than any other group on earth. Urban development and urban renewal are linked to the growth of china’s large and fast growing economy. It plays an important role in nuclear energy technological development. China is the world’s third largest Ethanol producer. The population of China enjoys a fairly low mortality rate and long life expectancy. China has stepped up its development aid and business activities with Asia, Africa and Latin America. It always needs a peaceful and stable international environment. The Chinese are now at the cutting edge of science and technology in many areas. Chinese annual spending on research and development in universities and other institutions exceeds that of Japan. To the world, China development is an opportunity rather than a threat.

Keywords:

China, bilateral relations, international economics, trade commerce, political economy, development aid

JEL Classifications:  B15, F5, F20, P16, F13, F35, F50

2012

Working Paper No.133, October 2012

Author: 

Deepika M G, Upasana Mishra, Vaishnavi B, Suganya N and Rakesh Y

Title: 

Cartel in Cement Industry in India: Is there enough evidence?

Abstract: 

The Competition Commission of India (CCI) in June 2012 had severely censured cartelization in the cement industry by imposing a penalty of at least Rs 6,300 crore on the top 11 makers of cement in India. Among these, the worst hit were ACC Ltd, Ambuja cements Ltd, Ultra Tech Cement Ltd and Jai Prakash Associates Ltd which have been fined in excess of INR 1000 crore each. Even in the past the country’s anti-monopoly watchdog CCI (earlier MRTPC) has been issuing notices to the top cement manufacturing companies after its investigative arm, Director General of Investigations and Registrations (DGIR) had pointed towards cartelisation and slammed cement manufacturers Association for the exorbitant increase in prices. In spite of repeated warnings by the Commission the price of cement in India had crossed all limits even when there has been no increase in the cost of production and increase in the number of players. Following this, a lot was debated about the ongoing collusive behaviour in the cement industry, the efforts by the commission to detect the cartels and a suitable policy towards action.

Keywords:

Cartel, Oligopoly market, Cement industry, monopoly power

JEL Classifications:  D43; K42; L41; L12

2012

Working Paper No.132, September 2012

Authors: 

Nikhil Haridas, Shijith Ajith Kumar, Vinod Kumar Nerella, Deepika M G and Amalendu Jyotishi

Title: 

Measuring Technical Efficiency in Tea Plantations in India: A Panel Data Analysis

Abstract: 

In last one decade tea plantation sector in India has undergone turmoil. Price volatility, increasing cost of production, reduction in export and quality of tea production are some of the critical issues that tea sector as a whole and tea plantation in specific has been facing during this period. In the presence of competitors like Sri Lanka, China, Indonesia, Kenya and others in the global market, one of the important factor Indian plantation sector needs is efficiency in its cost of production without compromising on quality. In this context, our paper attempts to compare the yield of tea across different tea growing regions of the country, identify the factors contributing for the productivity of tea cultivation and measure the technical efficiency through the production frontier approach. The efficiently and not so efficiently performing regions are then identified to explore the reasons behind their productivities. We have used OLS methods to arrive at the results. Our findings suggest significant difference between regions in terms of efficiency in tea production. We attempt to explore the reasons behind such differences.

Keywords:

Tea Production, Technical efficiency, Panel data analysis, India

JEL Classifications:  C01, D24, Q10

2012

Working Paper No.131, September 2012

Author: 

Prasannavadanan Thampi and Amalendu Jyotishi

Title: 

Emerging Perspectives of Small and Medium Enterprises in India: A Time Series Analysis

Abstract: 

The current study looks at the performance of the Small and Medium Enterprises (SME) sector during the period 1973-2006, through a quantitative analysis of the production factors extracted from RBI and ministry of MSMED archives databases. Basic quantitative methods are used to do a time series analysis of the data for the thirty three years from 1973 to 2006. The study reveals certain interesting results relating to the behavior of the annual growth rates of the various production factors and their dependency on certain environment factors. Based on the analysis, the entire period under analysis gets re-classified into two major phases based on the behaviour of the production factors. The study brings out the turbulence of the period just prior to the economic liberalization and immediately thereafter. It reveals the serious challenges brought in by the entry of global players into the Indian SME market place and the resultant behaviour of the SMEs. The study also brings up new questions for further research on the environmental and industry factors that influence the small scale sector or in a larger context the Micro, Small and Medium enterprises in the country. The study gives direction for further research which can lead to possible findings that can have serious bearing on future growth and development for the Micro Small and Medium Enterprises sector in India.

Keywords:

Micro, Small and Medium Enterprises (MSME), Manufacturing and Service enterprises, Small Scale Industries (SSI)

JEL Classifications:  D01, D-24, M21

2012

Working Paper No.130, August 2012

Authors: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

Crisis of Governance

Abstract: 

Governance refers to forms of political system and the manner in which power is exercised in utilizing country’s economic and social resources for development. It also deals with the capacity of government to design, formulate and discharge government functions. Governance can be used in several contexts such as environmental governance, corporate governance, international governance, national governance and local governance. The institutions that constitute the core of India’s democratic governance structure are at crisis. The moral foundation of Indian states is eroded by electoral fraud, money politics, criminalization of political system and increasing corruption in public life. The political process no longer commands the confidence of people. The distortion of Medias has belittled the Indian democracy and manifested a crisis of governance. Common man is still withdrawn from the democratic process. The present review paper examines the root causes of crisis and comes up with suggested area of radical reforms to minimize the intensity of the crisis in India.

Keywords:

Governance, Accountability, Reform, Politics, Corruption, Civil society, India

JEL Classifications:  G34, H4, H75, P11, P16, P48, B12, D73

2012

Working Paper No.128, July 2012

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

India China: The Anatomy of an Economic Relationship

Abstract: 

India-China economic relation constitutes an important element of the strategic and cooperative partnership between the two countries. Several institutional mechanisms have been established for enhancing and strengthening economic cooperation between the two countries. The resultant growth in China and India’s global diplomatic and economic influence has also enlarged the importance of their bilateral relationship. In the era of globalization, economic ties constitute the basis of overall relations between countries. China and India are two of the largest economies and both have established their comprehensive industry systems. But at the same time, the economic strengths of two countries are very much complementary to each other. India is strong in knowledge-based industries, especially in IT and pharmaceuticals. So many Indian companies in these sectors have established their offices, laboratories and factories in China and their business is doing quite well. China is strong in manufacturing and infrastructure and many Chinese companies are doing business in these fields in India. Various government institutions and agencies from the two countries have also been interacting with each other for furthering cooperation in the areas such as taxation, human resource development and employment, health, urban development and tourism. There is a close exchange and interaction between the economic think tanks and scholars as well. Relations between India and China will have a bearing on world economic affairs as the two countries are set to be the largest economies of the world.

Keywords:

India, China, bilateral relations, international economics, trade, commerce, political economy

JEL Classifications:  B15, F5, F20, P16, F13, F50

2012

Working Paper No.126, June 2012

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

India and Burma: Exploring New Vista of Relationship

Abstract: 

India and Burma have been enjoying the mutual contact in the field of trade, commerce, religion, law, political philosophy and culture. The British Raj was making its control over two lands for years together. Burma got its independence and India was also freed from the shackles of British rule on 15th Aug, 1947. Nehru and U Nu developed a friendship that created the foundation of good Indo- Burmese relation. Since independence, both countries have not met any type contention. When India supported pro-democracy movement and criticized the ruling military Junta in Burma, the relation between two nations come down. However, in 1990s, the relation between two countries restored again. They are co-operating in all fields including countering insurgency on the border, checking narcotics smuggling across the border, sharing intelligence on a real-time basis, promoting trade and investment. There are four important factors such as cultural, political, economic and security that involves relations with Burma has been analyzed.

Keywords:

India, Burma, bilateral relations, international economics, trade com merce, political economy

JEL Classifications:  B15, F5, F20, P16, F13, F50

2012

Working Paper No.125, June 2012

Authors: 

Neerpal Rathi

Title: 

Please Smile While You Serve: Do Employees Pay a Hidden Cost for “Serving with a Smile?”

Abstract: 

In the service industry, employees are expected to regulate their emotions and express organizationally desired emotions. Consequently, service employees frequently engage in emotional labor. This paper aimed to investigate the relationship of emotional labor strategies, namely surface acting deep acting with employee well-being. For the present study, data were collected from a total of 204 employees working in various hotels. Existing scales were used to measure the variables. The results of the study indicate a negative relationship between surface acting and employee well-being, whereas deep acting was found to be positively correlated with the well-being of hotel employees. Implications of the study are discussed. The paper concludes with an emphasis that service organizations, especially hotels should encourage their employees to use deep acting more frequently during service encounters.

Keywords:

Emotions, emotional labor, emotional exhaustion, employee well-being, service industry

2012

Working Paper No.124, May 2012

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

India-China Bilateral Relations: Confronts and Prospects

Abstract: 

India and China are rising giants of Asia. Both are world’s most populous countries and fastest growing major economics. The far-reaching growth in China and India’s global diplomatic and economic influence has also enhanced the significance of their bilateral relationship. China and India are two of world’s oldest civilizations and have co-existed in peace for millennia. Both countries have effectively tried to reignite cultural, diplomatic and economic ties. China has emerged as the largest trading partner of India and two countries have tried to expand their strategic and military relations. The economic relation between two countries is considered to be one of the most significant bilateral relations in the current global economic scenario and this trend is expected to go on in the years to come.

Keywords:

India, China, bilateral relations, international economics, political economy

JEL Classifications:  B15, F5, F20, P16

2012

Working Paper No.123, May 2012

Authors: 

Neerpal Rathi and Barath M

Title: 

Work-Family Conflict and Job and Family Satisfaction: Moderating Effect of Social Support among Police Personnel

Abstract: 

Work and family roles demand a great deal of time and energy from individuals in fulfilling multiple responsibilities in each role. Balancing multiple roles can increase the interpersonal and intrapersonal conflict among individuals, which further can lead to work-family conflict. The present study investigates the relationship between work-family conflict (work-to-family and family-to-work conflict) with job satisfaction and family satisfaction among police personnel. Moreover, this study explores the moderating effect of social support on the relationship of work-family conflict dimensions with job and family satisfaction. Existing scales were used to measure the variables. The results of the study indicate work-to-family conflict and family-to-work conflict to be negatively related with job and family satisfaction. Social support from work colleagues was observed to moderate the relationship of work-to-family and family-to-work conflict with family satisfaction. Implications and limitations of the study are discussed. The paper concludes with views that organizational leaders should focus on understanding: (a) the demands of work roles on family roles and vice versa and (b) the influence of these, sometimes incompatible demands on individual and organizational outcomes.

Keywords:

Work-family conflict, work-to-family conflict, family-to-work conflict, job satisfaction, family satisfaction, social support e

JEL Classifications:  M10, M12, M19

2012

Working Paper No.122, April 2012

Author: 

Keshab Chandra Ratha and Sushanta Kumar Mahapatra

Title: 

India’s Missing Daughters: An Ominous Sign for Democracy

Abstract: 

Population enumeration by gender composition is one of the basic demographic characteristics and provides meaningful demographic analysis. Indian census has the tradition of bringing about information by gender composition on various aspects of population. Changes in gender composition largely reflect the underlying social, economic and cultural patterns of society in different ways. The issue of survival of girl child is a critical one, and one needs systematic effort in mobilizing the community. Using primarily different published secondary information, the article analyses the reasons why the proportion of baby girls is steadily declining. Reversal of the declining trend is a must to ensure stable economic and societal growth. The present study has given suggestions for the improvement of socio-economic and cultural fundamentals, which has always detrimental to the interest of female population. Progammes that aim to reduce the excessive son preference and increase the value of daughters to their parents should be given priority.

Keywords:

Sex ratio, missing women, sex determination, female foeticide, son preference

JEL Classifications:  O15, I18, J16, J11, J12

2012

Working Paper No.121, April 2012

Authors: 

Neerpal Rathi, Deepti Bhatnagar and Sushanta Kumar M

Title: 

Effect of Emotional Labor on Emotional Exhaustion and Work Attitudes: Moderating Effects of Emotional Intelligence and Supervisor Support among Hospitality Employees in India

Abstract: 

The hospitality industry involves a high degree of face-to-face or voice-to-voice interaction between frontline employees and the customers. As a result, frontline employees need to frequently engage in emotional labor. The present research explores the relationship of emotional labor strategies i.e., surface and deep acting with emotional exhaustion, organizational commitment, and turnover intention among employees in hospitality industry in India. Moreover, this study investigates the moderating effect of emotional intelligence and supervisor support on the relationship of surface and deep acting with emotional exhaustion, organizational commitment, and turnover intention. Data were collected from 204 frontline hotel employees representing different departments. Existing scales were used to measure the variables. The results of the study demonstrate that surface acting is positively related with emotional exhaustion and turnover intention, while it was found to have a negative correlation with organizational commitment. The study showed a positive association between deep acting and turnover intention. Moreover, emotional intelligence was observed to moderate the relationship between deep acting and organizational commitment. However, contrary to our hypotheses, supervisory support was not found to moderate the relationship of surface and deep acting with any of the dependent variables. Managerial implications of the study are discussed.

2012

Working Paper No.120, March 2012

Author: 

Avinash Shivdas P

Title: 

Resource Based View of Performance Measurement of Pharmaceutical Companies in India: Sales versus Efficiency

Abstract: 

The success of any firm was measured taking into account the sales performance of a firm. But it should also be noted that sales revenue is the indication of the past performance alone. The question that needs to be pondered is – What about the future performance? Can investors and senior management make decisions purely based on the past and extrapolate the same for the future? Will that suffice the major parameter on the basis of which resource allocation is done for the future?This paper presents an alternate view of looking at the performance of the firms from the input side rather than from the output side- The Resource Based View and also from the view of looking at efficiency of the firm . In order to look at the efficiency we are using the Technical Efficiency as another parameter for checking the health of the firm for both the present and the future of the company. This paper also presents a framework that would help investors as well as top management look at both the inputs as well as the outputs of the firms and their competitors and map them onto a matrix, whereby the position the firm vis–a–vis their competitors can be mapped. Based on this mapping the decisions for the future could be made. The paper has utilized 44 companies listed in the National Stock Exchange, India to test the Technical Efficiency model and also map these companies on the matrix on the basis of 2 parameters – sales and technical efficiency.

Keywords:

Technical Efficiency, Resource Based View, Pharmaceutical companies, Firm performance

JEL Classifications:  D24, L1

2012

Working Paper No.118, February 2012

Authors: 

Avinash Shivdas P

Title: 

Innovation in Services: A Lancastrian approach to the field of E-Learning

Abstract: 

Innovation in services is one of the prime drivers for the economy of large number of countries. The present paper focuses on the synthesis school of thought in the area of innovation in services. An evolution in this school of thought is presented and a new model is developed in line with the evolution. This paper aims at critically reviewing the literature on innovation in services from the point of view of characteristics approach proposed by Lancaster(1966) and extending the existing frameworks by incorporating aspects of Web 2.0 technology and explaining its application in the field of e-learning. I also look at the concepts of Pedagogy 2.0 and prosumerism as a part of this paper. To validate the model a case study approach is adopted wherein an e-learning tool provided by a reputed organization is used to explain the model.

Keywords:

Innovation in services, recombinative innovation, Lancaster approach, E-learning, synthesis approach, web 2.0 technology, peer-peer learning

JEL Classifications:  L86, O14 and O31

2012

Working Paper No.117, February 2012

Author: 

Sushanta Kumar Mahapatra

Title: 

Dynamics of Irrigation Management and Interlinked Agrarian Relations: Empirical Findings from a Canal Irrigation Command in Odisha, India

Abstract: 

The literature on the dynamics of irrigation management in terms of the analysis of interlinked agrarian relations is very less. This paper attempts to get a detailed grassroots view of the farmer’s knowledge on various issues pertaining to the agrarian structure, land and water relationship. The data from 200 sample cultivators of different farm sizes and 20 landless labour households has been collected from 8 sample villages situated in head-reach and tail-end distributaries of branch canal of selected Hirakud irrigation commands in Odisha. An analysis of the nature of the interlinking of various agrarian markets in the studied distributaries showed that, interlinked credit transactions are mostly prevalent among the landless labour and small farm households. To some extent they are higher in head-reach distributaries as compared to the tail-end distributaries. It also showed that the incidence of tenancy in the head-reach areas is higher than the tail-end.

Keywords:

Agrarian Structure, Farm households, Rural Market, Water availability, Irrigation Management, Head and Tail reach, Odisha, India

JEL Classifications:  P48, Q12, Q15, Q24, Q25

2012

Working Paper No.116, January 2012

Authors: 

Satyasiba Bedamatta , Amalendu Jyotishi and Sushanta Kumar Mahapatra

Title: 

Wetland Valuation: A Review of Theoretical and Empirical Issues

Abstract: 

Valuation of wetland has always remained a challenge for the empirical, environmental and ecological economists. Major difficulty confronted in the valuation process is the involvement of non-market variables in these ecosystems. These ecosystems provide a large number of services and goods to the society at large, and therefore valuation of the gains from the system are most needed. In that case the methods of valuation have to be indirect, based on choices and preferences revealed by the stakeholders. The problem is compounded as the pricing concepts have not even taken roots among the group of stakeholders. In this paper we tried to review various valuation methods with a focus on valuing and evaluating wetland ecosystem. We have critically reviewed Hedonic pricing, Travel cost method, Production function approach and Contingent valuation with respect to wetland ecosystem.

Keywords:

Wetland value, Contingent valuation, Hedonic pricing, Travel cost, Production function approach

2011

Working Paper No.115, December 2011

Author: 

Amalendu Jyotishi

Title: 

Ecological and Institutional Analysis of Inland Fisheries Resource Management: Productivity in the Case of Tawa Reservoir, Indias

Abstract: 

Fishing in inland water bodies such as flood plain lakes, river, estuaries and reservoirs, has an important role for rural people. Fish is an important source of protein diet of many households and generate significant income as well as provide employment opportunities. 70 percent of the 0.71 million active fisher folks in India are employed in the inland fisheries and India has a total of 19,370 reservoir units covering an area of 31, 53,366 hectares, hence creates a lot of opportunities for economic development of the rural people. Reservoir fisheries are classic case of Common Pool Resources (CPRS) and hence require comprehensive institutional arrangement that can ensure productivity of the fish resources without compromising with the ecological needs. Therefore, through the case of Tawa reservoir, we are trying to understand the fisheries resource and the production scenario. Tawa reservoir has undergone operation through different management regime, and hence, provides an opportunity to comprehend the performance of these regimes and their implications on fisheries resources. In this paper, our attempt is therefore, to understand the dynamics of the fisheries resource of Tawa reservoir. With the limited available data, we analyse the catch and stocking relationship, predator-prey relationship and also to identify the determinants that influence the productivity of the Tawa reservoir. Based on the time-series data available a model was developed to determine the production possibility of the fish resource in Tawa. Our finding suggests that among different regimes existed in Tawa fisheries management, the cooperative form under Tawa Matsya Sangha (TMS)’s performance is better.

Keywords:

Reservoir Fisheries, Common Pool Resources, Production Possibility, Institutions, Tawa, India

JEL Classifications:  C32, O13, P51, Q22

2011

Working Paper No.114, December 2011

Authors: 

Jyothi S. and Amalendu Jyotishi

Title: 

Economic and Ecological Sustainability in the Context of a Business Organisation– A Critical Reviews

Abstract: 

The role of business in developing more sustainable societies is crucial, but first we have to review the concept of sustainability itself and its roots. The objective of this work is to critically review the current concept of sustainability by providing it with a sound universalistic view. The Dimensions of sustainability are, The Natural Environment (Environmental and Ecological dimension), Society and its systems of rules for decision making (Institutional dimension), The population and its capabilities (social dimension) The economy (Economic dimension). We propose to look at the two of the four dimensions, namely the Economic and Ecological or Environmental sustainability rationale. The objective of this paper is to determine what sustainable business means. Businesses typically begin their commitment to sustainability with a clear understanding of their economic goals-a sense of purpose that comes from having built an enterprise that creates wealth and provides jobs and a belief that they would like to do better. Triple Bottom Line (TBL) approach is looked at which essentially means that a business which actively manages and reports on all dimensions (social, environmental and economic) of company performance. The review is intended to draw a connect between the economic and the ecological dimensions of sustainability. A critical review of literature is carried out to draw certain valuable insights into the study. The paper is structured in the way that the key words are operationally defined, the concept of Economic and Environmental/ Ecological Sustainability is drawn, linkages are being arrived at with respect to Economic and Environment sustainability, the key drivers of such sustainability is looked at. A strategic approach to Sustainability is worked on, and conclusions derived.

Keywords:

Sustainability, Economic, Environment/Ecological

JEL Classifications:  L20, L30, M14, Q50

2011

Working Paper No.113, November 2011

Author: 

Deepika M G and Sigi M D

Title: 

Poverty Alleviation: An Alternative State-led Microfinance and Microenterprise Model of Kudumbashree in India

Abstract: 

Kudumbashree, the state poverty eradication mission initiated by the government of Kerala in India is an alternative to the commercial model of microfinance institutions in the country. The study examines this model of microfinance institution and the role of the state in implementation of microfinance activities and examines its impact on poverty alleviation in the state of Kerala in India. The microenterprise model of Kudumbashree provides a classic example of a tripartite linkage model. The functioning of enterprises is made effective due to the strong linkages created in the Kudumbashree network of state, community and financial organizations facilitated through the state. The success of Kudumbashree’s thrift and credit operations proved that the poor could save money and were trustworthy in banking operations. The microenterprises of the program have created sufficient evidence of enhancing the financial viability of the microfinance institutions created through the SHG model under the Kudumbashree network. The model can therefore be seen as a strong alternative to the commercial MFIs who are now criticised to be functioning strongly under a profit motive deviating from the intended objective of serving the poor and making them self sustainable.

Keywords:

Microfinance, microenterprise, tripartite linkage, state, local self governance, poverty, financial viability

2011

Working Paper No.112, November 2011

Authors: 

David Bamber, Suniti Phadke and Amalendu Jyotishi

Title: 

Product-Knowledge, Ethnocentrism and Purchase Intention: COO Study in India

Abstract: 

Purpose – The purpose of this research is to model country of origin (COO) effects, intention to purchase foreign products, ethnocentrism and foreign product knowledge among average Indian consumers. Knowledge derived from the analysis can be used in the marketing mix by firms to address the Indian market. Design/methodology/approach – The literature concerning COO effect is presented. Four scales are used for intention to purchase foreign products (PI), ethnocentrism (E), foreign product knowledge (FPK) and COO. A principal component analysis for the scale of 21 items is conducted using data from a representative Indian sample. Further, correlation and simple linear regression analyses are conducted to test various hypotheses and models. Findings – Four components were confirmed that correspond with the sub-scales: PI, E, FPK and COO. Significant correlations between i) PI and E, ii) FPK and PI, iii) FPK and COO and iv) PI and COO were found. Interpretation of correlation along with the results of two regression analyses indicated two consumer segments in the Indian sample. Research limitations/implications –The research is limited average consumer group. Further research will be required to address specific brands, product as well as the attitudes of the specific groups like elite consumers. Practical implications – The paper indicates a series of strategies that retailers could adopt to address the emerging market of India. Originality/value – The study models the inter-relationship between four sub-scales within a 21 item Likert type instrument with reference to an representative consumer group, placed into two segments, in the under-researched market of India.

Keywords:

Country of Origin, Ethnocentrism, Purchase Intension, Foreign Product Knowledge, Indian Consumer

2011

Working Paper No.111, October 2011

Author: 

Sushanta Kumar Mahapatra and Sudip Mitra

Title: 

Managing Land and Water under Changing Climatic Conditions in India: A Critical Perspective

Abstract: 

In the case of developing economies, climate change and its economic consequences presume vital importance in the process of realizing sustainable development in the longer timeframe. Land and Water are the two major ingredients of the successful realization of this process. It is needless to say that land and water cannot be disconnected while addressing the issue of sustainable development. Here, this paper would concentrate on the issue of water where many issues would be equally relevant to the issues of land. It has been concluded in the Natural Resources Defense Council report that, the global warming may increase the risk of floods, so an efficient and conservative water use will be of paramount importance for future water supply. The main motivation of this paper is to discuss the water management challenges that can handle the threats or stresses like Global Environmental Change (GEC), climate changes, natural disasters like flood, drought or even an extreme climatic event like cyclone. The current paper focuses on the broad area of water management issues such as the major river system of India, condition of ground water resources, the current water utilization, water losses, water under stress, water pollution and increased population & its impact on the problem of scarcity of water. It also focuses on the current water policy, land and water rights and act, Interstate Water Dispute Act etc. An attempt has been made to illustrate the environmental interface between land, water and climate. The paper assumed an interdisciplinary approach combining knowledge from environmental sciences with social sciences.

Keywords:

Agriculture, climate change, global warming, land, water management, sustainable development, India

JEL Classifications:  Q15, Q24, Q25, Q54, Q55, Q56

2011

Working Paper No.110, October 2011

Authors: 

Amalendu Jyotishi and Sashi Sivramkrishna

Title: 

The Forest and the Trees: Delineating the Protected Area Debate in India

Abstract: 

Protected areas like Reserve Forest, Sanctuaries and National Parks have been created for ecological services that accrue from these forests. However, presence of multiple stakeholders with conflicting interest makes functioning of such Protected Areas a complex system thereby giving rise to different viewpoints based on stakeholder interest. In this review paper, we attempt to understand the Protected Area debate from different stakeholder standpoints and on the basis of a review of literature that more specifically pertains to the Indian context. Moreover, any articulation of present-day constructs remains incomplete without tracing the roots of the debate to the role of colonial government in deforestation, with an important counter indication in extensive destruction of forests by traditional iron smelters. The paper concludes with a few cases to show that what apparently appears as conflicting viewpoints have possibilities for reconciliation.

Keywords:

Protected Area, Conservation, Forest Right, Forest Policy, India

2011

Working Paper No.109, September 2011

Author: 

Demetrios Vakratsas and Gurumurthy Kalyanaram

Title: 

Price effects on physician prescription behavior and The role of HMO orientation

Abstract: 

Drug prices have contributed significantly to the growth of prescription drug spending, thus becoming a major concern for patients and cost-conscious care providers. Then, a critical question to answer is: Does physician prescribing behavior depend on drug prices and are physicians who treat more managed care patients more price sensitive? Surprisingly, this issue has received very little attention in the literature. In this study, we examine the price sensitivity of physicians for eleven drugs in three top-selling drug classes for a period during which prescription drug costs were growing at an annual rate of 15% (1997-2000). Our analysis distinguishes between probability and frequency of prescription effects. We find that physicians are price sensitive with respect to frequency but not probability of prescription. In other words, they would not exclude a drug from prescription due to its higher price, but would prescribe it at a lower frequency. Thus, physicians are selectively price sensitive, which we interpret as an effort to balance quality and cost considerations. In line with our expectations, HMO-oriented physicians exhibit higher price sensitivity.

Keywords:

Pharmaceutical marketing; pricing; public policy; prescription behavior

2011

Working Paper No.108, September 2011

Authors: 

Sushanta Kumar Mahapatra

Title: 

Participatory Irrigation Management and Water Policy Reform: An Empirical Analysis of the Farmers Management of Irrigation Systems in India

Abstract: 

Irrigation Management Transfer (IMT) to the user farmers is being increasingly advocated and practiced the world over, to provide correctives to the distortions arising from the failure of the market as well as the state. The most common type of reform in the Indian irrigation sector in recent years has been the attempts to increase farmers’ direct involvement in irrigation under the label of Participatory Irrigation Management (PIM).Many multilateral agencies like World Bank, Asian Development Bank, European Economic Community, USAID, Ford Foundation and other agencies have supported action research Programmes in different parts of the India which make available the foundation for operationalisation of the notion of PIM. According to the Mid-Term Appraisal of the Ninth Five Year Plan, the progress achieved so far in PIM, in improving water-use-efficiency, is rather low. The irrigated area transferred to WUA in India is only about seven per cent as against 45 per cent in Indonesia, 66 per cent in Philippines, and 22 per cent in Thailand. Lately, the voluntary sector and Non- Governmental Organization (NGOs) have made their presence felt in the area of Common Property Resources (CPRs) focusing on participatory forms of development.The paper discusses the various issues and experiences of the performance of Participatory Irrigation Management studies, conducted in the Indian State of Odisha. The precise objectives are; (1) to critically review the Orissa Farmers Management of Irrigation Systems Act, (2) to study the functioning of the Water User Associations (Pani Panchayat), and (3) to recommend policy interventions to make the formal institutions more successful. The Government of India adopted the National Water Policy in 1987 emphasizing participation of farmers in different aspects of the management of the irrigation system. Following the policy initiative the State government of Odisha adopted PIM in 1994, and shifted its role from being a mere provider of water to that of initiating a paradigm of sustainable water resources management. The Orissa Farmers Management Irrigation Act 2002 was constituted for establishment of farmers organizations in all the irrigation systems. The paper concludes that the Pani Panchayat as regulatory institutions in charge of water distribution on equitable basis, their performance has been reasonably weak and unsuccessful. The paper suggests policy makers to ensure inclusion of more pro-poor strategies, define the water rights of farmers and raise awareness, and monitor participation in water user authorities.

Keywords:

Participatory irrigation management, farmer managed irrigation system, common property resource, Natural resource Management, water management, Water policy, India

JEL Classifications:  P48, Q15, Q25, Q28, R14

2011

Working Paper No.107, September 2011

Author: 

Amalendu Jyotishi and Satyasiba Bedamatta

Title: 

Indian Agricultural Sector towards Food Security: Some Policy Issues

Abstract: 

There has been remarkable achievement by Indian State in agricultural growth transforming the economy from a net importer of agricultural products to a net exporter over the decades. Similar remarkable achievements can also be seen in terms of food grain stock and addressing famine like situations. Post Bengal famine, India has not seen a disaster of that magnitude in following decades that can be attributed to phenomenal sensibility and achievement by Indian State. However, these achievements have come with a cost to the society. In recent time, the issues relating to food inflation has led to the debate on the factors behind this. There are several viewpoints that ascribe the characteristic and causes of this and hence, the implications on food security issues. Firstly, supply side bottlenecks in terms of stagnated production of food grains are considered as one of the important factors. Secondly, with the increase in income among the rural population (as advocated through the success of MGNREGA programmes) the demand side factors also arguably play important role in increasing the food prices. A third line of argument comes from the systemic bottleneck that leads to inefficiency in bridging the gap between supply and demand. One of the simplest ways to look at inefficiency is wastage. Other factors of inefficiency may also include inefficient market due to many layers of imperfection between the producers and consumers that play a role in escalating the prices and hence accessibility. Besides, degradation of soil and land, unavailability of water, stagnancy in technological growth, diversification are some other crucial viewpoints describing inefficiency in the system. There are some elements of truth in all these viewpoints. We, therefore, in our paper, intend to understand the agricultural scenario in last few decades to verify the intensity of truth in some of the above mentioned viewpoints. Besides, we would attempt to understand if there are possible policy gaps that can address these issues. Considering all these aspects, in the present paper we are briefly analyzing the overall scenario of agricultural sector, especially from the food security point of view. We will do so by looking at demand side and supply side factors along with the ecological factors, technology, credit and market imperfection. These issues would be synthesized considering the broader agricultural and food policies and gaps therein.

Keywords:

Agricultural Policy, Supply side, Food Policy, Food Security, India

JEL Classifications:  Q18, O20

2011

Working Paper No.106, August 2011

Authors: 

Neerpal Rathi

Title: 

Psychological Well-Being and Organizational Commitment: Exploration of the Relationships

Abstract: 

This paper aims at investigating the relationship between psychological well-being and organizational commitment among public sector employees. For the present study, data was collected from 232 employees working in various organizations. Existing scales were used to measure the variables. The results of the study demonstrated positive relationshipbetween psychological well-being and organizational commitment and its components namely affective, continuance, and normative commitment. Moreover, psychological well-being was found to predict affective, continuance, and normative commitment, while controlling for the effects of age, tenure, and education. This research also has few limitations. First limitation is that the data used in this study was collected from a specific region of the country. Second limitation is concerned with the use of self-report measures for data collection. Despite certain limitations, this study provides a valuable insight into understanding the relationship between employees’ psychological well-being and organizational commitment. One unique characteristic of the present study is that it employs the notion of psychological well-being which focuses on positive rather than negative aspects of health and well-being, and defines well-being as the positive psychological functioning of individuals.

Keywords:

Psychological well-being, Affective commitment, Continuance commitment, Normative commitment, Spillover

JEL Classifications:  M10, M12, M19

2011

Working Paper No.105, August 2011

Author: 

Satyanarayanan Jambunathan, Amalendu Jyotishi and E. Meera

Title: 

Technical Efficiency Analysis For Decision Making Process: A Case Study of Air-Conditioner Manufacturing Company

Abstract: 

Companies that are engaged in manufacturing activities often face decision dilemma during the short-run surge in demand. In such a situation it is difficult to infuse technological changes or capital investment to enhance production. However, with the changes in variable factors like labour and raw materials and, minimum reorganization of production process if higher production level can be achieved, the firms may like to consider that option. Measurement of efficiency in such cases provides a better understanding of the level of efficiency the firm is operating compared to its own potential. In this context, we attempt to understand technical efficiency illustrating the case of Blue Star Ltd., Company. This case is analysed measuring technical efficiency of net sales with respect to raw materials and staff cost as determining variables with a hypothetical scenario of one time short-run surge in demand. The results are further elaborated from the perspective of decision making process.

Keywords:

Production Function, Technical Efficiency, Decision Making Process, Blue Star, India

JEL Classifications:  C22, C51 and D24

2011

Working Paper No.102, June 2011

Authors: 

KG Satheesh Kumar and Sanjay Banerji

Title: 

Mediating between Competitive Strategy and Value: The Increasing Role of  Projects

Abstract: 

Linking projects to business strategy has been actively researched over the past decade and half, enriching the theoretical foundations of project management and broadening its conceptual framework. We explore the progress so far.

Keywords:

Project management; value creation; operational improvements; strategic alignment; project success; 80:20 rule

JEL Classifications:  M10, M11, L10, L20

2011

Working Paper No. 101, June 2011

Author: 

Sunil Puliyakot

Title: 

Too-Big-To-Fail and Bank Risk Taking Incentives: How Shareholder Bailouts Can Enhance Risk Taking Incentives

Abstract: 

Banks and financial institutions which are deemed to be too big to fail are often bailed out and allowed to continue operations while they recover their losses, due to certain regulatory motivations.

Keywords:

Too-Big-To-Fail; Bailout, Bank Risk Taking; Franchise Value

JEL Classifications:  G21; G28; G32
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