This book deals with the history of private investment in India and its determinants during the period 1900-1939. It develops a simple theoretical framework in its first part and tries to isolate the influence on private investment in India of factor supplies, as against demand conditions. In the second part, all the major manufacturing industries of the period are studied in detail. Most of the analytical apparatus used is developed from orthodox economic theory, but a heavy emphasis is placed on Keynesian ideas. Finally, the author presents a case study in the economic relations between an imperial power (Britain) and a dependent colony (India). He also examines the social relations between the ruling race and the Indians, and provides one of the few detailed accounts of the mechanics of imperialism.

Private Investment in India 1900-1939.


Purpose
There is a growing consensus that entrepreneurial activity is essentially a collective family endeavour, with some configuration of family involvement in business (FIB) working better than others. This paper aims to examine the effects of FIB on strategy and financial performance (FP), drawing from the institutional theory for the Indian family businesses.


Design/methodology/approach
The sample comprises of 105 pharmaceutical companies listed on the Bombay Stock Exchange for FY2013–2017. A two-way random effects panel model was invoked to examine the relationship between FIB and strategy, as well as the intermediating effect that strategy has on the FIB-FP link.


Findings
On average, the family has a high ownership concentration, with the founders predominantly holding the chief executive officer (CEO) and chair positions. The econometric results highlight that the founder’s descendants adopt a conservative strategy. A significant positive moderating effect of strategy on FIB-FP link was observed for the descendants as the largest owners, CEO and board chair. The presence of a professional CEO and independent chair, however, leads to an intervening adverse impact on FP. The ownership-management-governance configurations highlight that some combinations of family and non-FIB leads to better performance than others.


Originality/value
The study provides a plausible explanation for the conflicting evidence on the direct FIB-FP relationship through the strategy intermediation. The institutional perspective emphasizing the identity and role family members play in terms of strategy provides an unconventional epistemological underpinning to the present research.


Strategic entrepreneurship and performance: an institutional perspective on Indian family businesses

How to cite this paper: Naz, R. (2018). Efficacy of corporate social responsibility in corporate governance structures of family owned business groups in India. Corporate Governance and Organizational Behavior Review, 2(1),

Efficacy of corporate social responsibility in corporate governance structures of family owned business groups in India

Mixed legal systems, which are also referred to as the third legal family, have traditionally been reduced to those featuring interactions between rules, doctrines, methods and practices of the Civil Law and the Common Law. Over the past century, the legal scholarship has explored in great depth the potency of mixtures between the Common Law and the Civil Law—not only for purposes of intra-jurisdictional legal analysis and practice, but also for purposes of supra-jurisdictional private law harmonization initiatives. Legal traditions and sources of law outside the purported Common Law-Civil Law dichotomy, however, have mostly been reduced to receive honorable mentions under a pluralist conception of mixed jurisdictions. This has especially been true for mixtures involving religious law. Newer developments, however, suggest that the status quo in the comparative law narrative, including the narrow conception of mixed jurisdictions, may be eroding. Mixed jurisdictions are by their nature uniquely positioned to make unencumbered contributions in the discussion about pluriversality in the law, but they can only do so if one looks beyond the encrusted * Dr. Markus G. Puder, The Honorable Herbert W. Christenberry Professor of Law and Faculty Director LL.M. Programs, Loyola University New Orleans College of Law. First Legal State Examination, Ludwig Maximilian University, Munich, Germany; Second Legal State Examination, Munich Upper Court of Appeals; LL.M., Georgetown University Law Center; Ph.D. in Law, Ludwig Maximilian University. Member of the New York State Bar and the U.S. Supreme Court Bar. I wish to express my gratitude to Ms. Raheleh Fard Salimi for her translation assistance and cultural insights. Published by Penn Carey Law: Legal Scholarship Repository, 2023 136 U. PA. ASIAN L. REV. Vol. 18:2 criteria that have traditionally been deployed for membership in the third legal family. This Article will therefore make a foray into the mixed law of a jurisdiction far away that has been shrouded in great mystery—the Islamic Republic of Iran. The Iranian “waqf” ( و ق ف )—”owqāf” ( ا و ق ا ف ) in the plural form—will serve as a case study for a richly textured fabric of mixed law that more than rivals what has traditionally been required for membership in the third legal family. Grounded in Islamic jurisprudence, clothed in legislated law, and housed in a codification, the Iranian waqf may be described as a property endowment that detains the endowed property and removes it from circulation, while devoting its utility to a designated purpose. The analysis of the legal framework of the Iranian waqf further reveals its unique ability to engage into comparative dialogues—not only with the waqf in other Islamic schools of jurisprudence, but also with a host of referents in the worlds of the Common Law and the Civil Law.

Mixed jurisdiction law beyond the purported common law-civil law dichotomy: the property endowment in iran

Joint-family system has been a key institution within vernacular form of capitalism in India since pre-colonial times, allowing them continued leverage in commerce. However, the institution of joint family in post-colonial India has gradually changed over time towards nuclearization. This chapter shows how a dwindling institution of extended joint family, which was the very foundation of a prosperous indigenous capitalist class of Marwaris in India, since pre-colonial times, is being retained in spirit (if not in form) despite nuclearization. Exploring the co-constitutive nature of joint-family system and Marwari commerce, we decode decoloniality by explicating practices and praxis spread across multiple phases of familial separation marked by mechanims of tensions, preparations, and slowness towards retaining the spirit of jointness. Furthermore, we highlight the constitutive role of the institution of family in the circulation of capital in bazaars that play out in the trajectory of decolonial re-existence of Marwaris. Familial jointness makes the processes of collateralization, securitization and underwriting reduntant which are beholden of western version of capitalism. We open the black-box of what constitutes ‘managing’ in the context of a business community thinking on the border, with modern/colonial practices of managing a business on one side and long-held culturally rooted practices on the other. 

Straddling Business, Jointness and Nuclearisation: A Decolonial Reading of Managing Through Indigenous Institution(s)

Social science has had a very limited engagement with the socio-legal entity of the Hindu Undivided Family (HUF). In corporate and personal law—the two spaces it inhabits—it has been largely regarded as separate and distinct entity from “modern” tax and corporate governance entities like individuals and body incorporates. It is often referred to as an archaic remnant associated with feudal structures of land and property holdings. Its implications on capital accumulation in the “modern” structures of corporate governance and tax structures have not been studied at all. This paper is an attempt to arrive at a comprehensive delineation of the role of the HUF in the corporate governance and taxation regime in independent India.

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Mohit Gupta

Papers

The Hindu Undivided Family in Independent India’s Corporate Governance and Tax Regime