Nisha Prakash, Aditya Maheshwari and Aparna Hawaldar
Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any…
Abstract
Purpose
Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis.
Design/methodology/approach
The study utilizes three leverage ratios in an extended market index, BSE500, for the period 2015–2021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (2015–2019) and pandemic (2020–2021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity.
Findings
The findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty.
Research limitations/implications
The study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid.
Practical implications
To maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival.
Originality/value
Developing countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival.
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Nisha Bamel, Satish Kumar, Umesh Bamel, Weng Marc Lim and Riya Sureka
Innovation goes beyond creation, concentrating on enhancement, which is essential for advancement. Since 1998, the European Journal of Innovation Management (EJIM) has been a…
Abstract
Purpose
Innovation goes beyond creation, concentrating on enhancement, which is essential for advancement. Since 1998, the European Journal of Innovation Management (EJIM) has been a leading forum dedicated to thought leadership and research on the advances in innovation management. Given that EJIM has run over two decades, the time is now opportune to reflect on the journal's contributions to innovation management. Thus, this paper aims to retrospectively review the productivity, impact and knowledge of innovation management research in EJIM.
Design/methodology/approach
This paper adopts a bibliometric methodology to engage in a retrospective review of EJIM. The bibliographic data of 757 papers published in EJIM from 1998 to 2021 were retrieved from Scopus and analyzed using performance analysis and science mapping techniques.
Findings
The productivity (publication) and impact (citation) of innovation management research curated by EJIM have grown prolifically over time. Though EJIM operates with a European title, the journal receives and publishes contributions worldwide (e.g. Asia, Europe, North America, South America and Oceania). Noteworthily, the knowledge of innovation management research in EJIM can be divided into four categories: basic themes (general), which comprise innovation, open innovation, new product development and product and process innovation; motor themes (well-developed), which consist of organizational culture and innovation and leadership and creativity; niche themes (very specialized), which include dynamic capabilities and business model innovation; and emerging or declining themes (weakly developed or marginalized), which is made up of research and development (R&D) and green innovation.
Originality/value
This paper offers a seminal retrospection of EJIM and the journal's productivity, impact and contribution to innovation management.
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Kala Nisha Gopinathan, Punniyamoorthy Murugesan and Joshua Jebaraj Jeyaraj
This study aims to provide the best estimate of a stock's next day's closing price for a given day with the help of the hidden Markov model–Gaussian mixture model (HMM-GMM). The…
Abstract
Purpose
This study aims to provide the best estimate of a stock's next day's closing price for a given day with the help of the hidden Markov model–Gaussian mixture model (HMM-GMM). The results were compared with Hassan and Nath’s (2005) study using HMM and artificial neural network (ANN).
Design/methodology/approach
The study adopted an initialization approach wherein the hidden states of the HMM are modelled as GMM using two different approaches. Training of the HMM-GMM model is carried out using two methods. The prediction was performed by taking the closest closing price (having a log-likelihood within the tolerance range) to that of the present one as the closing price for the next day. Mean absolute percentage error (MAPE) has been used to compare the proposed GMM-HMM model against the models of the research study (Hassan and Nath, 2005).
Findings
Comparing this study with Hassan and Nath (2005) reveals that the proposed model outperformed in 66 out of the 72 different test cases. The results affirm that the model can be used for more accurate time series prediction. Further, compared with the results of the ANN model from Hassan's study, the proposed HMM model outperformed 24 of the 36 test cases.
Originality/value
The study introduced a novel initialization and two training/prediction approaches for the HMM-GMM model. It is to be noted that the study has introduced a GMM-HMM-based closing price estimator for stock price prediction. The proposed method of forecasting the stock prices using GMM-HMM is explainable and has a solid statistical foundation.
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As per the vision of promoting agricultural collectives, the government of India promoted the farmer producer organization (FPO). However, with the fast growth of FPOs, there is…
Abstract
Purpose
As per the vision of promoting agricultural collectives, the government of India promoted the farmer producer organization (FPO). However, with the fast growth of FPOs, there is an issue with performance measurement. This study is aimed at the development of performance metrics for the FPOs.
Design/methodology/approach
In the first stage, we selected the measures from a secondary literature review and identified 11 parameters. Further, the Delphi round was conducted in the second stage with 26 experts working with FPOs and they were asked to rank these parameters. Based on the weightage of each parameter, the most important parameters were decided. The mean ranks and deviations of the performance parameters were analyzed. The hypothesis test and Kendall’s coefficient of concordance have been further used to validate the performance parameters. In the third stage, based on the inputs from the experts, a questionnaire was designed, and the data was collected from chief executive officers (CEOs) of the FPOs to identify the most important performance parameters.
Findings
The experts identified governance, financial support and professional management as important measures for FPOs. In the second round of the study, finance and governance were identified as the most important factors. It is important to note that finance and governance were the two most important factors in making an FPO successful. Finally, a 100-point metric was developed in seven major heads.
Research limitations/implications
This study will be advantageous for all the stakeholders involved in the promotion of FPOs, including FPOs themselves, funding agencies providing funds to FPOs, skill-building organizations, etc.
Originality/value
This paper is one of its kind to develop a 100 points metrics for performance evaluation of FPOs.
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Jung-Chieh Lee, Li Chen and Hengrui Zhang
To improve the frequency of adoption of mobile health services (MHSs) by users (consumers), it is critical to understand users' MHS adoption behaviors. However, the literature…
Abstract
Purpose
To improve the frequency of adoption of mobile health services (MHSs) by users (consumers), it is critical to understand users' MHS adoption behaviors. However, the literature primarily focuses on MHS adoption-related factors and lacks consideration of the joint impacts of reasons for (RF) and reasons against (RA) on users' attitudes and adoption behaviors regarding MHSs. To fill this gap, this study integrates behavioral reasoning theory (BRT) and protective motivation theory (PMT) to develop a research model by uncovering the reasoning process of personal values, RF and RA, adoption attitudes and behavior toward MHSs. In particular, health consciousness (HC) is selected as the value. Comparative advantage, compatibility and perceived threat severity are considered the RF subconstructs; value barriers, risk barriers and tradition and norm barriers are deemed the RA subconstructs.
Design/methodology/approach
A total of 281 responses were collected to examine the model with the partial least squares structural equation modeling (PLS-SEM) method.
Findings
The results show that HC positively affects attitude through RA and RF. Additionally, RF partially mediates the relationship between HC and adoption behavior. This study contributes to a deeper understanding of user adoption behavior in MHS and provides practical guidance for the health services industry.
Originality/value
This study contributes to the existing MHS literature by understanding the joint influences of personal values, RF and RA on user attitude, which eventually determines users' adoption decisions regarding MHSs.
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Lack of access to finance is one of the major contributing to low profitability in agriculture. Various policy interventions were performed for promoting access to finance…
Abstract
Purpose
Lack of access to finance is one of the major contributing to low profitability in agriculture. Various policy interventions were performed for promoting access to finance. However, access to finance always remained one of the biggest challenges to Indian policymakers. The purpose of this paper is to explore the policy interventions in the areas of agriculture finance.
Design/methodology/approach
This paper makes an attempt to explore the relation of earlier policy initiatives with the current microfinance industry as well. The data for the paper are collected from Reserve Bank of India Archive Museum at Pune. This Museum is having huge collection of archives of policy documents of the Indian financial sector and is one of its kinds in India.
Findings
The study concludes that many of the interventions of today were earlier experimented or proposed in the past but, due to some or the other reason those, interventions were not successful. The study concludes that if those interventions had been implemented that time, it would have taken India in one of the tops in the list of financial inclusion.
Originality/value
This paper is a unique in its feature as it has tried to link the evolution of agriculture finance and the microfinance industry of India as microfinance is an integral part of agricultural finance in India.
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Olajumoke A. Awe, Nisha Kulangara and Demetria F. Henderson
In the extant literature, the effect of outsourcing activities on the firm performance has been an area of interest for several decades; yet, the body of knowledge lacks a…
Abstract
Purpose
In the extant literature, the effect of outsourcing activities on the firm performance has been an area of interest for several decades; yet, the body of knowledge lacks a holistic view of this phenomenon. The potential outcomes of outsourcing and its impact on firm performance have not been aggregated in the literature. The purpose of this paper is to conduct a meta-analysis of 51 empirical results using 24 articles to examine the relationship between these variables and firm performance. The authors discuss the extant literature and examine which type of outsourcing has the greatest influence on firm performance. The authors also present the limitations and future opportunities. Theoretical and managerial implications are discussed to highlight which outsourcing functions would be fiscally beneficial for firms.
Design/methodology/approach
This paper takes a granular approach by looking at different outsourced functions in the both the manufacturing and service industry. Using meta- analysis, this paper combined the quantitative study data from several selected studies in an effort to increase power, improve the effect size and resolve the uncertainty about the effects of outsourcing activities on firm performance measures.
Findings
The authors found that outsourcing enhances the firm performance. When outsourcing functions were studied individually, only IT outsourcing had significant effects on firm performance in comparison to other forms of outsourcing. This might be attributed to the fact that IT outsourcing is less costly to implement in the organization compared with other forms of outsourcing.
Originality/value
This paper is the first paper that uses a meta-analytic approach to investigate the relationship between outsourcing and performance measures based on past empirical studies that have used both primary and secondary data.
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Carolyn Caffrey, Hannah Lee, Tessa Withorn, Maggie Clarke, Amalia Castañeda, Kendra Macomber, Kimberly M. Jackson, Jillian Eslami, Aric Haas, Thomas Philo, Elizabeth Galoozis, Wendolyn Vermeer, Anthony Andora and Katie Paris Kohn
This paper presents recently published resources on library instruction and information literacy. It provides an introductory overview and a selected annotated bibliography of…
Abstract
Purpose
This paper presents recently published resources on library instruction and information literacy. It provides an introductory overview and a selected annotated bibliography of publications covering various library types, study populations and research contexts. The selected bibliography is useful to efficiently keep up with trends in library instruction for busy practitioners, library science students and those wishing to learn about information literacy in other contexts.
Design/methodology/approach
This article annotates 424 English-language periodical articles, monographs, dissertations, theses and reports on library instruction and information literacy published in 2021. The sources were selected from the EBSCO platform for Library, Information Science, and Technology Abstracts (LISTA), Education Resources Information Center (ERIC), Scopus, ProQuest Dissertations and Theses, and WorldCat, published in 2021 that included the terms “information literacy,” “library instruction,” or “information fluency” in the title, abstract or keywords. The sources were organized in Zotero. Annotations summarize the source, focusing on the findings or implications. Each source was categorized into one of seven pre-determined categories: K-12 Education, Children and Adolescents; Academic and Professional Programs; Everyday Life, Community, and the Workplace; Libraries and Health Information Literacy; Multiple Library Types; and Other Information Literacy Research and Theory.
Findings
The paper provides a brief description of 424 sources and highlights sources that contain unique or significant scholarly contributions.
Originality/value
The information may be used by librarians, researchers and anyone interested as a quick and comprehensive reference to literature on library instruction and information literacy within 2021.
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Nisha Pandey, Som Sekhar Bhattacharyya and Manoj G. Kharat
The purpose of this study was to ascertain organizational factors that impacted the performance of social enterprises.
Abstract
Purpose
The purpose of this study was to ascertain organizational factors that impacted the performance of social enterprises.
Design/methodology/approach
For this research study, a structured close-ended survey questionnaire was prepared based upon literature inputs. The data was collected from 370 executives in social enterprises in India. The data was analysed through structural equation modelling. The data was analysed towards hypothesis development as well as model development explicating the success of social enterprises.
Findings
This research study’s findings developed a model towards explicating firm level performance in social enterprises. The antecedent factors were organizational commitment (OC), organizational orientation (OO), employee empowerment (EE) and top management support (TMS). The factor business innovation capability (BIC) was the mediating variable, whereas the firm performance (FP) of social enterprises was the dependent variable. Business innovation creativity had full mediation effect.
Research limitations/implications
In this research study, the variable influencing the performance of social enterprises were ascertained. TMS and EE were independent organizational variables in any social enterprise along with the two organizational factors of OC as well as OO that did matter for enhancement of BIC of social enterprises. BIC had full mediating effect based upon the mentioned factors of OC, organization orientation, EE and TMS, which subsequently manifested in superior social enterprises FP.
Practical implications
Social enterprises had to balance the twin objectives of social good (doing good for society) as well as earning economic benefits for the enterprise. Given this challenge, social enterprises had to develop an organizational context in which employees were empowered towards undertaking social issues proactively. Furthermore, top management team must provide support for such causes. When this aspect coupled with the presence of OC and OO then in the social enterprise, BIC got developed. With the presence of BICs, it became easier for social enterprises to undertake innovation that were also socially oriented and led to superior FP.
Social implications
It has often been observed in developing countries like India that social innovation and entrepreneurial ventures associated with these have become a necessity. However, such ventures often do not to scale up. Hence, its case for business continuance and sustenance have been challenging. This study provided insights regarding the existential aspect of social enterprises in terms of its performance.
Originality/value
This study was one of the first research studies that integrated the factors of OC, OO, EE and TMS in building organizational capability towards innovation in social enterprises. This in turn contributed towards the improvement of FP of social enterprises.
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In this work, an efficient architecture for memory built in self-test (MBIST) that incorporates a modified March Y algorithm using concurrent technique and a modified linear…
Abstract
Purpose
In this work, an efficient architecture for memory built in self-test (MBIST) that incorporates a modified March Y algorithm using concurrent technique and a modified linear feedback shift register (LFSR)–based address generator is proposed.
Design/methodology/approach
Built in self-test (BIST) is emerging as the essential ingredient of the system on chip. In the ongoing high speed, high tech sophistication technology of the very large-scale integrated circuits, testing of these memories is a very tedious and challenging job, since the area overhead, the testing time and the cost of the test play an important role.
Findings
With the efficient service of the adapted architecture, switching activity is considerably cut down. As the switching activity is in direct proportion to the power consumed scaling down, the switching process of the address generator inevitably leads to the reduction in power consumption of the MBIST.
Originality/value
To improve the yield and fault tolerance of on-chip memories without degradation on its performance self-repair mechanisms can be implemented on chip.