Showing papers by "Indian Institute of Management Bangalore published in 2013"

Property rights and the gender distribution of wealth in Ecuador, Ghana and India

Abstract: Women’s ability to accumulate wealth is often attributed to whether they have property rights; i.e., a legal personality to own and manage property. In this paper we argue that basic property rights are insufficient; whether women are able to accumulate wealth also depends upon the marital and inheritance regimes in particular contexts. Drawing upon surveys which collected individual level ownership data in Ecuador, Ghana and the state of Karnataka in India, we estimate married women’s share of couple wealth and relate it to how assets are owned within marriage as well as to different inheritance regimes and practices. In Ecuador, married women own 44 %, in Ghana, 19 %, and in Karnataka, 9 % of couple wealth. Ecuador is characterized by the partial community property regime in marriage while inheritance laws provide for all children, irrespective of sex, to be treated equally, norms that are largely followed in practice. In contrast, Ghana and India are characterized by the separation of property regime which does not recognize wives’ contribution to the formation of marital property, and by inheritance practices that are strongly male biased. Reforming marital and inheritance regimes must remain a top priority if gender economic equality is to be attained.

Posterior Consistency of Bayesian Quantile Regression Based on the Misspecified Asymmetric Laplace Density

Abstract: We explore an asymptotic justification for the widely used and empirically verified approach of assuming an asymmetric Laplace distribution (ALD) for the response in Bayesian Quantile Regression. Based on empirical findings, Yu and Moyeed (2001) argued that the use of ALD is satisfactory even if it is not the true underlying distribution. We provide a justification to this claim by establishing posterior consistency and deriving the rate of convergence under the ALD misspecification. Related literature on misspecified models focuses mostly on i.i.d. models which in the regression context amounts to considering i.i.d. random covariates with i.i.d. errors. We study the behavior of the posterior for the misspecified ALD model with independent but non identically distributed response in the presence of non-random covariates. Exploiting the specific form of ALD helps us derive conditions that are more intuitive and easily seen to be satisfied by a wide range of potential true underlying probability distributions for the response. Through simulations, we demonstrate our result and also find that the robustness of the posterior that holds for ALD fails for a Gaussian formulation, thus providing further support for the use of ALD models in quantile regression.

A Spatial Poisson Hurdle Model for Exploring Geographic Variation in Emergency Department Visits

Abstract: We develop a spatial Poisson hurdle model to explore geographic variation in emergency department (ED) visits while accounting for zero inflation. The model consists of two components: a Bernoulli component that models the probability of any ED use (i.e., at least one ED visit per year), and a truncated Poisson component that models the number of ED visits given use. Together, these components address both the abundance of zeros and the right-skewed nature of the nonzero counts. The model has a hierarchical structure that incorporates patient- and area-level covariates, as well as spatially correlated random effects for each areal unit. Because regions with high rates of ED use are likely to have high expected counts among users, we model the spatial random effects via a bivariate conditionally autoregressive (CAR) prior, which introduces dependence between the components and provides spatial smoothing and sharing of information across neighboring regions. Using a simulation study, we show that modeling the between-component correlation reduces bias in parameter estimates. We adopt a Bayesian estimation approach, and the model can be fit using standard Bayesian software. We apply the model to a study of patient and neighborhood factors influencing emergency department use in Durham County, North Carolina.

Influence of ERP systems on business process agility

Abstract: Past research on the effect of ERP systems on agility is contradictory, and research on the post implementation effects of ERP systems on agility is limited. Employing a cross sectional field study, this exploratory study analyses how key defining features of enterprise systems environment—integration, process optimisation, and best practices—affect agility. Standardisation of processes has mixed effect on agility and depends on the extent of standardisation implemented and whether it included prior simplification. Rather than the ERP-system enabled environment, the inadequacies in implementation and poor process optimisation prior to ERP implementation are restricting process agility.

Effect of Quality Management Systems and Total Quality Management on Productivity Before and After: Empirical Evidence from the Indian Auto Component Industry

Abstract: We study the linkages between firm-level quality initiatives such as quality management systems (QMS) and total quality management (TQM) and output productivity in the Indian auto component industry. We use externally validated quality certification and quality awards as proxies for QMS and TQM, respectively, as it is difficult to directly measure the QMS and TQM efforts of firms. We use an unbalanced panel of 220 firms and a balanced panel of 73 firms from the Indian auto component industry over the period 1993–2006 to study these links. Both parametric as well as non-parametric approaches are used, as appropriate, to measure the rate of change in productivity and the impact of quality initiatives on productivity change during this period. We determine the proportion of productivity resulting from technical change and relative efficiency change, thus providing insights into the structure of productivity improvements. We find that TQM efforts resulted in a high rate of productivity change (11%) in the award-winning firms after the award. On the other hand, pre-certification productivity change due to QMS was 5% and post-certification change was 3.6%. In the periods prior to certification, productivity change was driven mainly by technical change; whereas the source of productivity change after certification is mixed. However, prior to awards, productivity change was driven mainly by relative efficiency change, whereas post-award productivity change was due to technical change. The results suggest that management focus on attaining certification did generate conceptual learning (linked to technical change) during the period leading to certification, but these effects were not significant after certification. The results also suggest that the TQM programs generated significant productivity gains in the long run, although setting the associated systems in place did not result in significant productivity change prior to winning awards. Thus, the study provides direct but nuanced evidence linking quality certification as well as the adoption of TQM programs to the associated conceptual and operational learning processes and their impact on the change in productivity.

An application of the extended Technology Acceptance Model in understanding technology-enabled financial service adoption in South Africa

Abstract: The last 10 years have seen a significant increase in the provision of consumer services through technology. Computers, mobile phones, the Internet and self-service kiosks are examples of technology platforms that have enabled services to be offered to consumers in new ways. In South Africa, technology-enabled financial services have the potential to expand financial inclusion, especially at the bottom of the pyramid. There is a need to understand how consumers adopt technology-enabled services. Using grounded theory, an enhancement to the Technology Acceptance Model is proposed and developed to explain adoption of technology-enabled financial services. Confirmatory factor analysis is used to validate the model against data obtained from a survey. The proposed model fits the data well. Implications of the model are discussed.

Joint inventory and pricing decisions for perishable products with two‐period lifetime

Abstract: We consider a periodic review model over a finite horizon for a perishable product with fixed lifetime equal to two review periods. The excess demand in a period is backlogged. The optimal replenishment and demand management (using price) decisions for such a product depend on the relative order of consumption of fresh and old units. We obtain insights on the structure of these decisions when the order of consumption is first-in, first-out and last-in, first-out. For the FIFO system, we also obtain bounds on both the optimal replenishment quantity as well as expected demand. We compare the FIFO system to two widely analyzed inventory systems that correspond to nonperishable and one-period lifetime products to understand if demand management would modify our understanding of the relationship among the three systems. In a counterintuitive result, we find that it is more likely that bigger orders are placed in the FIFO system than for a nonperishable product when demand is managed. © 2013 Wiley Periodicals, Inc. Naval Research Logistics, 2013

Market-wide Herding and the Impact of Institutional Investors in the Indian Capital Market

Abstract: The article tries to identify the presence of ‘market-wide herding’ in the Indian capital market and whether institutional investors impact such herding. In particular, the article looks at the imp...

Career persistence of women software professionals in India

Abstract: Purpose – This paper seeks to explore career centrality, belief in gender disadvantage, and career success definition as the determinants of career persistence among women software professionals in emerging economies like India. The control variables used are marital and parental status.Design/methodology/approach – A survey questionnaire was administered to 190 software women professionals and statistical analyses were used to test the hypotheses.Findings – Belief in gender disadvantage and objective success definition are differentiators for career persistence while career centrality is not. Marital status and parental status are relevant control variables.Research limitations/implications – Further exploration is needed of the dimensions of career centrality constructs and control for demographic variables.Practical implications – Organizations should consider investments in child care support and other flexible work options so that women continue to remain in their careers.Originality/value – This is ...

Contracting with Nonfinancial Stakeholders and Corporate Capital Structure: The Case of Product Warranties

Abstract: We investigate the relation between a firm’s product warranty level and its leverage. We find that leverage relates negatively to the warranty level and that this relation is robust to controls for endogeneity and self-selection into offering warranties. The negative warranty-leverage relation obtains only in the subsample of firms in the manufacturing industries. We also show that firms with warranties have the lowest debt levels, firms without warranties but operating in industries where other firms offer warranties on average carry higher debt, and firms in industries where no firm offers a warranty have the highest debt levels.

Local innovation: The key to globalisation

Abstract: The round table discussion draws the panellists to weigh in on how multinational enterprises from developed countries are innovating in and for emerging markets, the challenges faced, and lessons learnt. The key takeaways are that MNEs are increasingly innovating for the Indian market, alongside their contribution to global products. They are doing so by developing close relationships with field facing organisations, co-creating with customers, empowering engineers, and taking a clean slate approach to product development. This approach has given them dividends not only in the local market but also in the global market.

Lycopene in the management of oral submucous fibrosis

Abstract: Background: Oral Submucous Fibrosis is a potentially malignant disorder well known for its chronic and resistant nature. The conservative drug treatment that is currently available for this disorder is clearly inadequate. The aim of the study was to evaluate the efficacy of oral lycopene therapy when used in combination with conventional intralesional steroid therapy in the management of oral submucous fibrosis. Methods: Forty five patients with oral submucous fibrosis (grade III and IV) were included under the study and were randomly divided into 3 groups consisting of 15 cases each: Group A (oral lycopene 16 mg/day with biweekly intralesional steroids and hyaluronidase), Group B (oral antioxidant capsules with biweekly intralesional steroids and hyaluronidase) and Group C (biweekly intralesional steroids and hyaluronidase alone). Mouth opening and burning sensation were recorded from baseline to 6 weeks. Cases were followed up to 3 and 6 months. Results: There was significant increase in mouth opening among all the 3 groups. The results were statistically significant between Group A and C and Group B and C. Conclusion: Lycopene in combination with intralesional steroids and Hyaluronidase, is highly efficacious in improving the mouth opening and reducing other symptoms in patients with Oral Submucous Fibrosis. No side effects were reported with its usage.

Distribution challenges and workable solutions

Abstract: An effective distribution channel can be a source of strategic advantage for companies. However, little research exists about the distribution channel structure in India, which is largely traditional and quite unique. The first part of this round table article provides an overview of distribution channels, particularly their constituents and structure, with a special focus on distribution channels in India. The second part of the article reports on a panel discussion with eminent academic and industry experts on the challenges that companies in India face in designing, constructing, and managing distribution channels on the ground.

Ownership Trends in Corporate India 2001 - 2011 Evidence and Implications

Abstract: The corporation as a preferred business format for large (and/or) risky ventures has come to stay as a global phenomenon. Societies around the world (represented by their governments) have facilitated and encouraged their growth as instruments of their own wellbeing and competitive advantage among the comity of nations. As vehicles of private enterprise and personal enrichment, corporations can be at cross purposes with societal expectations of how they are to be run, especially in terms of their positive contributions and negative costs of operation. Ownership and control of corporations under the watchful stewardship and surveillance of their boards have a significant influence in shaping corporate behavior and the equitable management of relationships between and among themselves, the society and communities they serve, and the governments of the countries they operate in. This paper tracks the movements in corporate ownership in India among its top companies in the first decade of the new millennium and moving forward in to the second. It offers a fascinating kaleidoscope of the changing political and regulatory environment driving ownership patterns in sympathy. The paper is organized as follows: section I provides a brief overview of the development of the corporate format of business organizations globally and especially in India; section II describes the sample and its categorization for analysis, methodology and other background information; and section III sets out the findings, interpretation and conclusions. An Annexure of a comprehensive set of statistical exhibits completes the presentation.

An Analysis of Related-Party Transactions in India

Abstract: Related-party transactions (RPTs) refer to transactions between a company and its related entities such as subsidiaries, associates, joint ventures, substantial shareholders, executives, directors and their relatives, or entities owned or controlled by its executives, directors, and their families. RPTs are widespread and are part of every business group activity. RPTs have come under close scrutiny in recent years as they have been misused by companies as revealed in various corporate scandals. The study analyses Indian companies for three years between 2009 and 2011 and finds that RPTs were widespread and present in almost all companies during this period. Further, companies with high RPTs related to sales and income were found to report lower performance compared to companies with low RPTs. While ownership structure failed to offer any explanation for the magnitude of RPTs, RPTs were found to be lower in companies where big audit firms were statutory auditors.

How Do Social Networks Influence the Employment Prospects of People with Disabilities

Abstract: We explore the role of social networks used by people with disabilities for finding employment. In addition, we outline obstacles to network building for those with a disability. We contend that this group is often constrained and they underutilize their networks during job searches. Both factors are likely to result in negative employment outcomes and contribute to the employment gap between those with and without a disability. We outline how key network characteristics such as homophily, tie strength, and centrality influence job search outcomes for those with a disability differently than for those without a disability. Furthermore, we propose that although individuals with disabilities develop and rely upon networks that are comprised of close bonds with similar individuals that are either unemployed or underemployed in lower status positions, optimal networks for employment purposes should consist of diverse acquaintances that occupy central positions and higher status jobs within organizations. Finally, we outline propositions to guide future research on this neglected topic and also suggest practical implications.

Gender Equality, Inclusivity, and Corporate Governance in India

Abstract: Equity, equality and inclusivity have been themes of abiding interest to philosophers, politicians, social reformers and activists alike. In the modern Indian context of political and social reformation spearheaded by Gandhi during the first half of the twentieth century, the imperatives of mainstreaming women in public and private spheres of activity was a theme that engaged many scholars and statesmen and attracted his serious concern. Not to give women their due share of responsibility and authority was to him as much a case calling for greater inclusivity as was the exclusion of vast proportions of the population from equal opportunities based on other legacy prejudices of caste, creed, and so on. Despite remarkable progress in many other spheres, countries in general are still way behind in rectifying the gender inequalities that still persist. This paper discusses, within the broader framework of equality and inclusivity, the theme of women in corporate governance with particular reference to India. Corporate boards, a key instrument in governing corporations, are still too thinly populated with women directors; there is comparatively little representation of women in positions of influence and importance within the bureaucracy associated with corporate legislation and market regulation; active involvement of women in the policy making legislative bodies like the parliament and its committees as well as in the ministerial ranks in post-independence India has been is minimal. This situation calls for speedy correction in developing countries like India which can arguably benefit most from such inclusion.

Skew-elliptical spatial random effect modeling for areal data with application to mapping health utilization rates.

Abstract: Mixed models incorporating spatially correlated random effects are often used for the analysis of areal data. In this setting, spatial smoothing is introduced at the second stage of a hierarchical framework, and this smoothing is often based on a latent Gaussian Markov random field. The Markov random field provides a computationally convenient framework for modeling spatial dependence; however, the Gaussian assumption underlying commonly used models can be overly restrictive in some applications. This can be a problem in the presence of outliers or discontinuities in the underlying spatial surface, and in such settings, models based on non-Gaussian spatial random effects are useful. Motivated by a study examining geographic variation in the treatment of acute coronary syndrome, we develop a robust model for smoothing small-area health service utilization rates. The model incorporates non-Gaussian spatial random effects, and we develop a formulation for skew-elliptical areal spatial models. We generalize the Gaussian conditional autoregressive model to the non-Gaussian case, allowing for asymmetric skew-elliptical marginal distributions having flexible tail behavior. The resulting new models are flexible, computationally manageable, and can be implemented in the standard Bayesian software WinBUGS. We demonstrate performance of the proposed methods and comparisons with other commonly used Gaussian and non-Gaussian spatial prior formulations through simulation and analysis in our motivating application, mapping rates of revascularization for patients diagnosed with acute coronary syndrome in Quebec, Canada.

Spirituality in business: Sparks from the Anvil In conversation with Suresh Hundre, Chairman and MD, Polyhydron Pvt. Ltd.

Abstract: The economic crises in the recent past have led to a renewed interest in exploring the role of spirituality in business management. However there are several challenges in understanding what “spirituality” means in an operational sense of business management. This article first traces the research in the area of spirituality as applied to business and in the second part, reports on the beliefs of Suresh B. Hundre, Chairman and MD of Polyhydron Pvt. Ltd, Belgaum, India, as practised in Polyhydron, a company known for its ethical management, and where the concept of “Business Ashrama” integrates spirituality into business.

Supply Chain Management Components, Competitiveness and Organisational Performance: Causal Study of Manufacturing Firms:

Abstract: Supply Chain Management (SCM) is a complex subject, which is an important determinant of success or failure of any manufacturing enterprise. It is absolutely essential for executives of manufacturi...

Deciphering Rashomon: An approach to verbal autopsies of maternal deaths

Abstract: The paper discusses an approach to verbal autopsies that engages with the Rashomon phenomenon affecting ex post facto constructions of death and responds to the call for maternal safety. This method differs from other verbal autopsies in its approach to data collection and its framework of analysis. In our approach, data collection entails working with and triangulating multiple narratives, and minimising power inequalities in the investigation process. The framework of analysis focuses on the missed opportunities for death prevention as an alternative to (or deepening of) the Three Delays Model. This framework assesses the behavioural responses of health providers, as well as community and family members at each opportunity for death prevention and categorises them into four groups: non-actions, inadequate actions, inappropriate actions and unavoidably delayed actions. We demonstrate the application of this approach to show how verbal autopsies can delve beneath multiple narratives and rigorousl...

Product Market Linkages, Manager Quality, and Mutual Fund Performance

Abstract: Mutual funds typically invest a disproportionately large portion of their portfolio in one industry (main industry). We present a simple theoretical model to demonstrate that better mutual fund managers make larger investments in the important supplier/customer industries related to the main industry. Consistent with our theory, empirical tests on a large sample of mutual funds show that investment in related industries is positively associated with fund performance and plays a more significant role in explaining fund performance than investment in the main industry. Furthermore, the positive relation between main investment and fund performance obtains only when related investment is high. Copyright 2013, Oxford University Press.

Corporate Sustainability Initiatives Reporting:A Study of India's Most Valuable Companies

Abstract: This study analyses the sustainability initiatives of India’s top 100 companies across multiple variables related to sustainability. The study reveals significant variance in reporting across sectors as well as on the variables reported. The highest reported variables were related to corporate governance, followed by those related to CSR initiatives and measures to improve operational efficiency. Most initiatives in the area of CSR focused on four areas — education, healthcare, community livelihood, and infrastructure development. Operations-related measures included resource conservation (energy, water, paper) and waste management (emissions, solid waste, water). Less than 20% of the companies that were surveyed currently disclose information on sustainability issues related to the supply chain. The sectoral differences in reporting were also striking. The cement, metals and mining, electric utilities, and information technology sectors outperformed the other sectors on most indicators. The realty, telecom and TV, pharmaceuticals, and banking and finance sectors had not disclosed as much as the others did. The study also highlights areas for improvement. Voluntary sustainability reporting was still limited. Disclosures on CSR finances and donations were also nearly non-existent.

A conceptual model for retail productivity

Abstract: Purpose – The purpose of this paper is to develop a framework for measuring retail productivity. It intends to identify all the constituents of retail productivity exhaustively, along with their measures and integrate them with a comprehensive model.Design/methodology/approach – The paper summarizes the significant empirical works from the literature along with their study methods and identifies the gaps. The proposed methodology is a combination of various exploratory methods consisting of secondary data analysis, group interviews, depth interviews, observation and questionnaire survey.Findings – A regression‐based conceptual model including each of the output and input variables of retail productivity. It also provides conception logic and measurement method for each of the variables. It identifies the control parameters too and proposes to handle them in the model. The empirical validation provides the significance of various input parameters.Research limitations/implications – The empirical validation...

Health system capacity: maternal health policy implementation in the state of Gujarat India.

Abstract: Introduction: The Government of Gujarat has for the past couple of decades continuously initiated several interventions to improve access to care for pregnant and delivering women within the state. Data from the last District Family Heath survey in Gujarat in 2007-2008 show that 56.4% of women had institutional deliveries and 71.5% had at least one antenatal check-up, indicating that challenges remain in increasing use of and access to maternal health care services. Objective: To explore the perceptions of high-level stakeholders on the process of implementing maternal health interventions in Gujarat. Method: Using the policy triangle framework developed by Walt and Gilson, the process of implementation was approached using in-depth interviews and qualitative content analysis. Result: Based on the analysis, three themes were developed: lack of continuity; the complexity of coordination; and lack of confidence and underutilization of the monitoring system. The findings suggest that decisions made and actions advocated and taken are more dependent on individual actors than on sustainable structures. The findings also indicate that the context in which interventions are implemented is challenged in terms of weak coordination and monitoring systems that are not used to evaluate and develop interventions on maternal health. Conclusions: The implementation of interventions on maternal health is dependent on the capacity of the health system to implement evidence-based policies. The capacity of the health system in Gujarat to facilitate implementation of maternal health interventions needs to be improved, both in terms of the role of actors and in terms of structures and processes. Keywords: maternal health; policy; implementation; India; Gujarat; health system capacity (Published: 22 March 2013) Citation: Glob Health Action 2013, 6 : 19629 - http://dx.doi.org/10.3402/gha.v6i0.19629