Cross Listing of Firms and Corporate Governance Disclosure Practices - A Case of India

Vol.8  No.4

Year : 2014

Issue : Mar-May

Title : Cross Listing of Firms and Corporate Governance Disclosure Practices - A Case of India

Author Name : Rajya Lakshmi, Dr. Laila Memdani, Raja Babu

Synopsis :

Due to globalization Indian companies are getting listed in overseas markets as well, or in other words getting cross listed to have access to broader range of financing. Since corporate disclosure practices are not uniform globally, Indian companies cross listed in developed economies like United States of America and United Kingdom have to follow stricter corporate governance practices prescribed there. Theoretically cross listing increases the extent of disclosures practices followed by companies. Good governance results in the increase in the corporate reputation in the international market. As overseas developed markets are more mature than the Indian market, there can be adequate supply of capital at a lower cost. This study is an attempt to compare and contrast the extent of governance disclosures practices followed by Indian companies which are exclusively listed in India and those which are listed in India and abroad in order to find out whether cross listing is improving the governance disclosures by constructing a corporate governance disclosure score. In addition the authors analyze the nexus between the corporate governance scores and firm performance for firms exclusively listed in India and cross listed.

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Tips of High-Performance Team Building for Organizational Effectiveness

Vol.8  No.4

Year : 2014

Issue : Mar-May

Title : Tips of High-Performance Team Building for Organizational Effectiveness

Author Name : Namita Karmakar, Paneerselvam

Synopsis :

This paper proposes a various general models for team building, which enable leaders to build coherent teams rapidly and fairly for the term projects of organizations in general. Moreover, the models can also be used to build teams for any type of project, if they are inexperienced on a certain subject. The proposed model takes leaders' preferences and the staff's considerations into account when a team building process is required for any type of course. Executives, managers and organization staff members universally explore ways to improve business results and profitability. A team is a small group of people with similar skills working toward a common goal. A high-performance team has members with a clearly defined and shared purpose, mutual trust and respect, clarity of roles and responsibilities, high levels of communication, dedication to team success and cooperation, ability to differ and acknowledge conflict, and a supportive leader who challenges the team. Teamwork is considered a critical factor in delivering high-quality, although research on the evidence base for the effectiveness of teamwork and communication across disciplines is scarce. The organizational growth, development, motivation, morale, and satisfaction of the employees in the system combined with the best image projection of the organization to its various constituents, account in turn, for continued organizational health, viability, and growth which accounts for the organization's effectiveness. Successful team building, that creates effective, focused work teams, requires various attentions which are discussed. Effective team building, will help organizations to identify the teams strengths and weaknesses, increase productivity and efficiency, improve the way the team members interact, improve support and trust levels in the workplace reduce stress levels in the work place, and thereby develop healthy inter-group relations.

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Establishing Skills Supremacy: Way Forward to Sustain the Competitive Advantage

Vol.8  No.4

Year : 2014

Issue : Mar-May

Title : Establishing Skills Supremacy: Way Forward to Sustain the Competitive Advantage

Author Name : Vijay Padaguri, M.M.Bagali

Synopsis :

The research paper suggests an integrated skills based approach for learning organizations based on the findings of the study. The paper details the integration of the skills approach into the overall business plan and the strategy of organizations. A feasible model has been suggested in the paper with regard to adapting skills based approach towards achieving a sustainable competitive advantage. Principal Component analysis has been used to analyze the data collected from a sample representing ten prominent business sectors. Business entities strive to achieve and sustain supremacy of considerable credibility, in order to have continued growth and profits. While some companies have banked on 'core competencies' like cost leadership, technological advancements and design excellence, the sustainability issue still prevails and calls for something more radical. Having a competitive advantage is no longer an allinclusive acceptable long-run strategy, especially for corporate giants aiming at sustainable leadership. A quick re-look at companies like Blackberry and Nokia who could not sustain the pace of growth over the years prove that long-run market leadership demands more than just having one success factor, i.e.; design supremacy or robust technology. Companies should build a sizeable skills inventory that can be re-skilled in optimal time frames and can be used to achieve defined growth objectives. We could be looking at skill dominance translating to market dominance and if companies are able to scale up this concept, they could probably aim at long-run market leadership, a coveted corporate objective.

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Developing One's Ethical Awareness: Using Scripture As A Touchstone

Vol.8  No.4

Year : 2014

Issue : Mar-May

Title : Developing One's Ethical Awareness: Using Scripture As A Touchstone

Author Name : Hershey Friedman, James A. Lynch, Toby Birnbaum

Synopsis :

We live in a world where integrity, courage, humility, and compassion on the part of leaders are no longer a luxury. The authors demonstrate how the Hebrew Bible can be used by all kinds of leaders to provide timeless and inspiring messages. These ideals include integrity, courage, industriousness, compassion, truth, justice, and concern for others. Ignoring the plight of the weak and helpless is something numerous prophets railed at. A country or organization that wishes to prosper has to be built on the above-mentioned foundations. We have seen the financial devastation that results when institutions follow a “greed is good” and/or a “maximization of shareholder value” approach to leadership.

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Current Pricing Of IPOS: Is It Genuine To The Investors?

Vol.8  No.4

Year : 2014

Issue : Mar-May

Title : Current Pricing Of IPOS: Is It Genuine To The Investors?

Author Name : Suresh Chandra Bihari, Pratiksha Barik

Synopsis :

The study deals with finding whether the current pricings of IPOs are genuine to the investors or not, i.e. whether or not the companies are worthy of receiving premium. Securities are fairly priced in the capital markets if they are efficient and genuine. Pricing of securities (IPOs) is an essential factor to gain investors' confidence and aid in the companies' development and overall growth of an economy. IPO details, both book building and fixed price, issued since 1st January 2011 till 29th April 2014 are collected. The IPOs are categorized on the basis of their issue prices vs. market prices, and their paid up capitals. Fundamental analysis, using Dividend Discount Model, is done on selected 9 companies belonging to each category, to find the intrinsic values of the IPOs. Then, the financial conditions of the companies viz. EPS, P/E ratio, Dividend per share, Net worth, Reserves and surplus, Net profit and ROE, 2 years prior to the issue till FY 2013, are analysed to check the genuineness of the IPO pricing. The IPOs issued at premium are found to be genuine. The IPOs whose issue prices are less than their intrinsic values are also justified. Any false pricing is automatically rectified in a few years and the market either punishes or rewards the company in due course of time.

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Reducing Employee Turnover in Apparel Manufacturing Industry: Case Study

Vol.8  No.3

Year: 2014

Issue: Dec-Feb

Title : Reducing Employee Turnover in Apparel Manufacturing Industry: Case Study

Author Name : M.G ELLEPOLA

Synopsis :

Finding viable solutions for employee turnover is a main concern in the apparel manufacturing industry. Since employee turnover cannot be completely eliminated it's important to find out to how it can be minimized. Importantly in the present context, when labor is considered as a resource rather than a cost, the measures taken to do so may vary depending on the size of the operation. The apparel manufacturing industry is highly labor intensive and by minimizing turnover helps improvements in productivity, reduction of recruitment cost, prevent skill drain etc. Especially in a highly competitive environment: local and global, it is essential to search for more and more ways in cutting down costs that contribution from labor turnover is high among other factors. This paper discusses reasons for labor turnover and suggestions to reduce turnover & improve retention with a proactive approach.

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Corporate Governance, Profile of the Executive Directors and the Rate of Refunding of Microcredits in the case of the Tunisian Associations of Microfinance

Vol.8  No.3

Year: 2014

Issue: Dec-Feb

Title : Corporate Governance, Profile of the Executive Directors and the Rate of Refunding of Microcredits in the case of the Tunisian Associations of Microfinance

Author Name : Mighri Zouhayer, AKACHI SAMIR , JARBOUI ANIS

Synopsis :

The objective of this paper is to analyze the role allotted to the mechanism in the determination of the financial performances of associations of microcredit in the specific case of Tunisia. In this respect, the authors have integrated the characteristics of Executive Directors and have transposed the various instruments of governance largely treated in the case of banks to the sector of microfinance. Moreover, they resort to the rate of refunding as an indicator of the financial performance of associations of microcredit.

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Meeting the Challenges of Banking Services in a Technological Arena

Vol.8  No.3

Year: 2014

Issue: Dec-Feb

Title : Meeting the Challenges of Banking Services in a Technological Arena

Author Name : Darling Selvi

Synopsis :

Technology has opened up new markets, new products, new services and efficient delivery channels for the banking industry. Online electronics banking, mobile banking and internet banking are just a few examples. Technological innovation not only enables a broader reach for consumer banking and financial services, but also enhances its capacity for continued and inclusive growth. The penetration of bank offices in India has grown wider covering even to the rural villages. North Eastern regions are yet to be covered as the coverage is very low. As at end-March 2012, 99 per cent of the identified villages have been provided with banking outlets. Extension of banking services through Automatic Teller Machines has been carried by all types of banks except Cooperative Banks. A survey which has been conducted among 200 sample respondents from Kanyakumari District of Tamilnadu who have bank accounts revealed that they have good experience in banking transactions. The selection of banks depends on the better services, economy in transactions, Convenience, Attraction towards various schemes and to get Overseas Transactions. Though the sample respondents got aware of various technological advancement taking place in the banking transactions, only 62 percent have the habit of using them. The service quality of banking services was measured in five dimensions and it is noted that the average gap is positive and more for the dimension Reliability (0.5), Empathy (0.42) and Responsiveness (0.09) while the other two dimensions Assurance (-0.20) and Tangible (-0.40)are negative. The researcher has applied Trend analysis, Correlation analysis, SERQUAL technique, Factor analysis and percentage analysis and the results are highlighted.

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Gender Difference In Purchase Behaviour Towards Branded Apparels: An Empirical Investigation

Vol.8  No.3

Year: 2014

Issue: Dec-Feb

Title : Gender Difference In Purchase Behaviour Towards Branded Apparels: An Empirical Investigation

Author Name : syed irfan shafi, C. Madhavaiah

Synopsis :

The Indian growing retail market is the second biggest market after China. Ready-to-wear apparel is a part of the textile industry and it accounts for about half of India's fabric trade. India's customer market for ready-to-wear apparel has become varied by flow of more fashionable brands. India is becoming the favoured target for outsourcing ready-towear apparels for the international market. Many international brands are also sourced from the Indian ready-to-wear apparel market. This present study aims to examine the gender differences in consumers' apparel buying decision. Data were gathered from regular buyers of branded apparel using a structured questionnaire from a Metro city Bangalore with a sample size of 150 consumers. Convenience sampling was used for data collection. The data collected from respondents were analysed using SPSS 20.0. The results indicated that there is no significant difference between brand awareness, shopping frequency and shopping expenditure among male and female perceptive.

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A Study On Analyzing The Impact Of Organization Commitment On Job Satisfaction And Role Stress (With Reference To Employees Working In Cement Industry In Madhya Pradesh Region)

Vol.8  No.3

Year: 2014

Issue: Dec-Feb

Title : A Study On Analyzing The Impact Of Organization Commitment On Job Satisfaction And Role Stress (With Reference To Employees Working In Cement Industry In Madhya Pradesh Region)

Author Name : Vijit Chaturvedi

Synopsis :

The present paper focuses on identifying how different components of organizational commitment (Continuance, Normative and Affective) affect the level of job satisfaction and the job stress experienced by different middle level managers in Cement industry in M.P region. Organizational commitment being an important variable affecting largely the possible stay of talented employees and also the job performance of an individual and hence affects organization performance largely. An attempt has been made to analyze that with high level of job satisfaction employees experience low job stress and driving high organization commitment in employees. The conclusions drawn for this study are on the basis of empirical study conducted on 150 employees working in 10 different cement units in Madhya Pradesh Region. The data collected were analyzed using tools like Correlation, Multiple regression and ANOVA. From the study it was concluded that there is a significant impact of organization commitment on job satisfaction and role stress of employees working in Cement industry. It was seen that organization commitment is negatively related with dimensions of job stress and has significant correlation with job satisfaction. This study in some way contributed towards understanding the psychological perspective of employees and also understanding ways by which job can be redesigned.

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