Institute for Financial Management and Research

About: Institute for Financial Management and Research is a education organization based out in Chennai, India. It is known for research contribution in the topics: Volatility (finance) & Mean reversion. The organization has 16 authors who have published 16 publications receiving 64 citations. The organization is also known as: IFMR.

A study on factors driving the capital structure decisions of small and medium enterprises (SMEs) in India

Abstract: The prime focus of the study is to empirically examine the factors affecting the capital structure decisions of small and medium enterprises (SMEs) in India The sample consists of 174 non-financial firms Generalised method of moments (GMM) has been applied to find out the firm specific factors affecting financing decisions of SMEs in India The study specifically examines the effect of firm's profitability, tangibility, size, age, growth, liquidity, non-debt tax shield, cash flow ratio, and return on equity on the leverage of the firm It confirms the applicability of the pecking order theory for SMEs in India

The Short-Term Impact of COVID-19 on Global Stock Market Indices

Abstract: The COVID-19 pandemic, declared on March 11, 2020 by the World Health Organisation (WHO), has had a severe economic and financial impact on every economy around the world This paper aims to analyze the short-term impact of COVID-19 on global financial stock market indices We study the impact of six different WHO announcements regarding COVID-19 on five different sectors (Pharma, Healthcare, Information Technology, Hotel & Airline) based on the indices of three different economies (World, Developed and Emerging economy) We also study the movement of stock prices and volume of nine different global stock market indices (classified as developed & emerging) based on the number of new cases and deaths due to COVID-19 The study’s findings suggest that there is a significant effect of COVID-19 on global financial stock markets However, the effect is varied for developed and emerging economies

Robotic process automation: assessment of the technology for transformation of business processes

Abstract: We examine how robotic process automation (RPA) can be deployed as a technology solution in business processes and services as a transformation lever beyond traditional business process management and outsourcing. RPA is a new breed of software that allows for enterprise-wide automation of repetitive business processes, with the promise of potential FTE savings, better service quality and improved service delivery. Through an extensive survey of practitioners involved with RPA, this exploratory research identifies the motivation and challenges of RPA implementation as envisaged by the user communities. We also find the complementary perspectives of RPA product development communities. Consequently, we recommend ways to align the perspectives of the user communities and the developer communities to enable definitive value creation for the organisations. The findings and recommendations would help practitioners who develop RPA products or adopt these products in their IT ecosystems.

A time motion study of community mental health workers in rural India

Abstract: Community Health Workers (CHWs) are critical to providing healthcare services in countries such as India which face a severe shortage of skilled healthcare personnel especially in rural areas. The aim of this study is to understand the work flow of CHWs in a rural Community Mental Health Project (CMHP) in India and identify inefficiencies which impede their service delivery. This will aid in formulating a targeted policy approach, improving efficiency and supporting appropriate work allocation as the roles and responsibilities of the CHWs evolve. A continuous observation Time Motion study was conducted on Community Health Workers selected through purposive sampling. The CHWs were observed for the duration of an entire working day (9 am- 3 pm) for 5 days each, staggered during a period of 1 month. The 14 different activities performed by the CHWs were identified and the time duration was recorded. Activities were then classified as value added, non-value added but necessary and non-value-added to determine their time allocation. Home visits occupied the CHWs for the maximum number of hours followed by Documentation, and Traveling. Documentation, Administrative work and Review of work process are the non-value-added but necessary activities which consumed a significant proportion of their time. The CHWs spent approximately 40% of their time on value added, 58.5% of their time on non-value added but necessary and 1.5% of their time on non-value added activities. The CHWs worked for 0.7 h beyond the stipulated time daily. The CHW’s are “dedicated” mental health workers as opposed to being “generalists” and their activities involve a significant investment of their time due to the specialized nature of the services offered such as counselling, screening and home visits. The CHWs are stretched beyond their standard work hours. Non-value added but necessary activities consumed a significant proportion of their time at the expense of value-added activities. Work flow redesign and implementation of Health Management Information Systems (HMIS) can mitigate inefficiencies.

Diversity Deficit and Scale-Flip

Abstract: We present a comprehensive multi-scale test of the diversity-deficit hypothesis that posits a negative association between diversity and development. We develop a ‘scale-flip hypothesis’ that forma...