Showing papers by "Indian Institute of Management Kashipur published in 2018"

Farmer producer organizations as farmer collectives: A case study from India

Abstract: Small and marginal farmers in India have been vulnerable to risks in agricultural production Several organizational prototypes are emerging to integrate them into the value chain with the objectives of enhancing incomes and reduction in transaction costs One such alternative is Farmer Producer Organizations (FPOs) We explore the potential of FPOs as collective institutions through a case study of Avirat, one of the first FPOs in Gujarat Our analysis suggests that FPOs have the potential to provide benefits through effective collective action The main challenge, however, is to raise sufficient capital that can maximize these benefits We discuss the implications of our findings to policy This article is protected by copyright All rights reserved

Does strategic planning determine innovation in organizations? A study of Indian SME sector:

Abstract: While some researchers argue that strategic planning assists new product development and can be viewed as a framework for innovation, others believe that it restricts creativity and innovation. Des...

Herding by Foreign Institutional Investors: An Evidential Exploration for Persistence and Predictability

Abstract: The primary objective of the study is to explore the predictability of herding patterns of foreign institutional investors in the Indian market using high frequency data over a period from January ...

Ethics, accounting education and recruitment in Hong Kong

Abstract: During the last decade and a half, the ethical standards of accountants have been the subject of much criticism. Yet, ethics may not be considered as an important component during education or recruitment of accountants. This paper investigates the extent to which accountants regard ethics coverage in accounting curricula as important while recruiting entry-level accountants in Hong Kong. Based on a sample of 163 professional accountants in Hong Kong, this study finds significant differences between female and male accountants regarding the importance of teaching ethics in accounting education. Implications of the results for ethics education of accounting students are also highlighted.

Private equity investment, exit strategy and IPO performance: evidence from Indian IPOs

Abstract: Private equity (PE) is one of the important sources of financing. The certification hypothesis associated with PE investment influences the performance during the process of going public. The listing day performance of initial public offerings (IPO) is significantly influenced by various financial intermediaries involved in the IPO process due to certification effect associated with their reputation. In this study we try to evaluate certification and grandstanding hypothesis associated with PE investors in IPO market. Our empirical results refute certification hypothesis since the PE investment does influence the IPO performance. However, the ownership stake of PE investment has negative impact on the first day of IPO performance. This supports grandstanding hypothesis where the ownership stake and the urge of PE investors in liquidating the stake determines the IPO performance. The insignificant ownership stake held by private equity investors is a consequence of regulatory constraint. The insignificant impact on long-term IPO performance is also due to insignificant ownership stake retained after IPO. In addition, it is also observed that business group affiliated firms have lower degree of IPO underpricing. The overall performance of IPO follows 'U' shape curve indicating positive performance in the short term and long-term.

Analyzing the Risks in Supply Chain Information System Implementations

Abstract: Organizations make considerable efforts when implementing Supply Chain Information systems (SCIS) to increase their competitiveness. This chapter attempts to identify the Risk Factors (RFs) in SCIS implementation and evaluate them. Sixteen risk factors were identified based on an extensive literature survey. A comprehensive framework is presented with three major phases to select an adequate SCIS. The risk assessment for SCIS implementation is then empirically investigated. The RFs are formulated as hierarchy structures and Fuzzy AHPs as a Multi Attribute Decision Making (MADM) tool applied to judge the viable candidates. Based on a fuzzy AHP approach, a revised risk matrix with a continuous scale is proposed to assess the RFs' classes. The result classifies the risk factors in different categories (Extreme, High, Medium and Low). The revised risk matrix with continuous scale for risk assessment in SCIS implementation is a novel approach.

High customer involvement: an essential element for effective co-creation

Abstract: Understanding customer needs for meeting the customer expectations and to provide customer satisfaction is pivotal for the long term sustainability of the firm. Customer involvement, through 'co-creation' for developing the products and services will ensure this sustainability. This paper explains the meaning of co-creation, state the difference between co-creation and customisation- the most closely associated term with co-creation and elongates the difference between customerisation and crowdsourcing activities. This paper projects firms understanding of the co-creation concept and give suggestive ways and direction of concept implementation in an organisation. Research is conducted by using secondary sources and used in context of clarifying the concept of co-creation viz a viz other overlapping concepts. Two disguised caselets are also used to build clarity of the concept. On the basis of current literature, caselets and theoretical understanding we propose that an activity with high customer involvement, preferably at each stage of development of product and services can be called as a criteria to qualify for an activity to be termed as co-creation.

Modeling and Forecasting Unbiased Extreme Value Volatility Estimator in Presence of Leverage Effect

Abstract: This study proposes the frameworks (A-HAR-AddRS and HAR-AddRS-AGARCH) to account for leverage effect in modeling and forecasting the AddRS estimator (Kumar and Maheswaran, Econ Model 38:33–44, 2014b) based on heterogeneous autoregressive (HAR) model. We evaluate the forecasting performance of the A-HAR-AddRS and HAR-AddRS-AGARCH models using the error statistic approach, the superior predictive ability (SPA) approach and the model confidence set (MCS) approach and compare the results with the corresponding results from the return based asymmetric and regime switching volatility models. To illustrate it, we use the same indices as used by Kumar and Maheswaran (Int Rev Financ Anal 34:166–176, 2014a, Econ Model 38:33–44, 2014b), that is, S&P 500, CAC 40, IBOVESPA and S&P CNX Nifty. Our findings indicate that the A-HAR-AddRS and HAR-AddRS-AGARCH models provide more accurate forecasts of realized volatility than the returns based asymmetric and regime switching volatility models.

Modeling volatility of Indian exchange rates under the impact of regime shifts: A study with economic significance analysis

Abstract: In this paper, we assess the impact of regime shifts on the long memory properties of the Indian exchange rates. We make use of Sanso, Arago and Carrion (2004) Iterated Cumulative Sum of Squares (hereafter referred as AIT-ICSS) algorithm to detect the points of structural breaks in volatility series. Our findings indicate that incorporating the impact of sudden changes in volatility in the model indeed reduces the magnitude of long memory parameter. In the case of INR/JPY, we observe a shift in characteristics from long memory to mean reversion when the impact of regime shifts is included in the volatility model. Our findings also highlight that incorporating the impact of regime shifts in the model also improves the volatility forecast accuracy. Moreover, we implement a trading strategy based on risk-averse investor and find that the volatility forecasts based on the model which incorporate the impact of structural breaks provide substantial gains in return in comparison to volatility models with no structural breaks. These findings have important policy implications for financial market participants, investors and policy makers.

The Fall and Rise of Cotton Yarn ‘Manja’

Abstract: In the twenty-first century, managing organizational change has become one of the critical issues for the success of any organization Dynamic changes in the business environment post liberalization, privatization and globalization in India have escalated organizational competition holistically Moreover, changing government policies, recent technological advancements and increased management pressure to reduce costs have reshaped the entire organizational dynamics Researchers suggest that creativity and innovation have an important role to play in the transition process of organizations to survive, it is in fact the ‘survival of fittest’ (Chatterjee, 2014) While technological innovation plays the key role in business growth, the success of management depends upon the effective utilization and allocation of resources which are necessary to bring out technological change (Dasgupta, Gupta, & Sahay, 2011) Hence, in order to survive in this competitive market, strategic implementation and management of org

Embrace, before it is too late! Prediction of future studies on value co-creation

Abstract: Over the last decade, value co-creation emerged as a strategy for attaining sustained competitive advantage. Literature of marketing highlight that owing to a growing academic and practitioner's interest in the concept of value co-creation, there is a need to do a comprehensive assessment and synthesis of future direction for research. This article assesses this need and forecast the trends of the academic literature of value co-creation. Mixed method approach was used to construe the findings. In the first phase, selected literature of value co-creation was reviewed to find the prospective studies on value co-creation suggested by the scholars past one decade. In the next phase, seven themes for future studies on value co-creation are proposed as an outcome of the research.