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Article
Publication date: 10 January 2020

Samar Iqbal Bakhshi, Priya Rai and Akash Singh

This paper is a Conference Report (ICDT-2019) organized by Rajiv Gandhi National University of Law, Patiala, Punjab, India

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Abstract

Purpose

This paper is a Conference Report (ICDT-2019) organized by Rajiv Gandhi National University of Law, Patiala, Punjab, India

Design/methodology/approach

The whole conference is articulated in the form of a Conference Report.

Findings

The conference provided an opportunity for participants to share ideas, reach some consensus, agree on differences of opinion and create a future action agenda. All the participants from all different backgrounds were able to bring new things to light and deliberate on contemporary issues related to knowledge trends and digital strategies that will lead to smart future.

Originality/value

The International Conference on Digital Transformation-2019 on the theme of “A Cognitive learning towards Artificial Intelligence” was convened by Rajiv Gandhi National University of Law, Patiala, Punjab, India during September 6-8, 2019 in Patiala, Punjab, India.

Details

Library Hi Tech News, vol. 37 no. 2
Type: Research Article
ISSN: 0741-9058

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Article
Publication date: 27 August 2024

Akash Singh Yadav and Inder Sekhar Yadav

This study investigates the combined influence of corporate governance (CG) and debt maturity (DM) on the investment inefficiency among non-financial 506 NSE-listed firms in India…

412

Abstract

Purpose

This study investigates the combined influence of corporate governance (CG) and debt maturity (DM) on the investment inefficiency among non-financial 506 NSE-listed firms in India between 2009 and 2022. Additionally, this study also investigates the moderating effect of short-term debt (STD) maturity concerning the relationship between CG and investment inefficiency.

Design/methodology/approach

Utilizing the residuals extracted from the Biddle et al. (2009) investment model, three different forms of investment inefficiency (investment inefficiency, overinvestment and underinvestment) were measured. To measure the internal governance of firms, a new corporate governance index (CGI) was developed using 65 new governance stipulations, whereas STD was measured as short-term debt divided by total debt. Interaction effects between CG and DM were also estimated. Employing CGI and STD along with firm-specific control variables, many pooled regression models were estimated. Endogeneity issues were addressed through two-stage least squares. Robustness checks were also conducted using the two-step system GMM, alternative measures of dependent and independent variables.

Findings

The findings demonstrate that higher CG and shortened DM increase investment efficiency. This evidence implies that firm-level governance and short-term debt reduce information asymmetry and increase management oversight. Additionally, the evidence suggested that shortened DM and CG complement one another to increase investment efficiency, suggesting companies that utilize STD to a greater (lesser) extent demonstrate a greater (lesser) impact of CG in reducing investment inefficiency.

Practical implications

This work first advocates the establishment and implementation of robust corporate governance mechanisms to control agency conflicts, moral hazard, adverse selection and limit opportunistic behavior of managers for improving investment efficiency. Second, since interaction effects suggest a complementarity between CG and DM, it is advocated that STDs can be used to achieve optimal investment choices to control moral hazards and adverse selection and discourage suboptimal investment levels.

Originality/value

This work provides new evidence concerning the effects of CG and DM on various forms of corporate investment efficiency (investment inefficiency, overinvestment and underinvestment, using alternate measures) in an emerging economy like India having a unique institutional framework and macroeconomic environment using a newly developed firm-specific CG index for a large sample of companies using recent data.

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Article
Publication date: 28 October 2024

Akash Singh Yadav and Inder Sekhar Yadav

This study examines the influence of product market competition on investment inefficiency of Indian firms in context of agency problems. Additionally, this study also…

256

Abstract

Purpose

This study examines the influence of product market competition on investment inefficiency of Indian firms in context of agency problems. Additionally, this study also investigates whether intense competition is a substitute for or complementary to corporate governance in reducing investment inefficiency of firms.

Design/methodology/approach

Utilizing the residuals extracted from Biddle et al. (2009) investment model, investment inefficiency, overinvestment and underinvestment are measured for 506 non-financial Indian listed firms with 6,998 firm-year observations from 2009 to 2022. Product market competition is measured using various proxies such as the Herfindahl–Hirschman index, top-four firm concentration ratio, total number of firms in industry, industry market size, weighted average of entry costs and research and development (R&D) to sales ratio. Firms' internal governance is measured using a newly corporate governance index developed with 65 new governance stipulations. Several pooled ordinary least squares (OLS) panel regressions were estimated involving investment inefficiency of firms, product market competition, governance index and firm-specific variables. Endogeneity issues were addressed through two-stage least squares. Robustness checks were also conducted using a two-step system generalized method of moments (GMM).

Findings

The main finding of the study indicates that heightened product market competition reduces investment inefficiency, overinvestment and underinvestment among the selected Indian firms suggesting that firms facing intense competition are less prone to invest below or above optimal levels. This is primarily because in highly competitive industries, managers face greater liquidation risks, prompting more efficient capital investment decisions. The results also indicate that robust corporate governance significantly mitigates investment inefficiencies in non-competitive industries compared to competitive ones suggesting heightened competition reduces managerial slack, resulting in diminished benefits from good governance in competitive settings. Overall results indicate a substitution effect between corporate governance and competition in reducing investment inefficiency, with robustness across various empirical specifications, industry classifications and alternative competition and inefficiency measures.

Practical implications

The evidence from this work emphasizes the pivotal roles of market competitiveness and corporate governance in shaping investment efficiency. Regulators must closely monitor monopolistic behaviors to safeguard stakeholder interests, enhance investment efficiency and foster value creation. Recognizing the positive impact of market competition, firms should prioritize initiatives to promote industrial openness and intensify competition while strengthening market mechanisms. Policymakers should consider implementing competition-centric governance policies, such as deregulation and antitrust laws, to stimulate market competition. These measures can mitigate governance-related costs and promote a competitive marketplace.

Originality/value

This study provides fresh evidence concerning the effects of product market competition on investment efficiency of Indian firms under new governance norms, an unexplored area in India as most of the existing work has primarily examined the association between competition and investment levels. To best of our knowledge, this is one of the earliest studies demonstrating the substitution effects of competitiveness and governance systems on lowering investment inefficiency suggesting a significant influence of corporate governance in non-competitive industries. Finally, this study contributes to the field of methodology by developing a new firm-specific governance index based on 65 governance indicators.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 7 August 2017

Shivam Gupta, Subhas C. Misra, Akash Singh, Vinod Kumar and Uma Kumar

The purpose of this paper is to identify the critical challenges in the implementation of cloud enterprise resource planning (ERP). The challenges identified were customization…

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Abstract

Purpose

The purpose of this paper is to identify the critical challenges in the implementation of cloud enterprise resource planning (ERP). The challenges identified were customization, organizational change, long-term costs, business complexity, loss of information technology competencies, legal issues, integration, data extraction, monitoring, migration, security, network dependency, limited functionality, awareness, performance, integrity of provider, perception, and subscription costs. Here the small and medium enterprises (SMEs) and large organizations were differentiated with respect to the challenges identified. This paper also suggested ranked lists of challenges both for SMEs and large organizations.

Design/methodology/approach

An online survey was conducted and data of 93 respondents were analyzed. Exploratory factor analysis and one-way analysis of variance (ANOVA) was used to statistically test the data. Here the SMEs and large organizations were differentiated with respect to the challenges identified.

Findings

This study shows that SMEs and large organizations differ from each other for most of the challenges except business complexity, integration, monitoring, security, limited functionality, performance, and integrity of provider. Also from the ranked list of challenges in cloud ERP, security was the top concern for both SMEs and large organizations.

Originality/value

The findings may help organizations to get a broad idea about the challenges which are critical for the implementation of cloud ERP.

Details

International Journal of Quality & Reliability Management, vol. 34 no. 7
Type: Research Article
ISSN: 0265-671X

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Book part
Publication date: 12 September 2024

Rubee Singh, Akash Gupta, Arushi Bajpai and Vinay Kandpal

This chapter critically discusses the literature on the subject of circular economy. It defines the circular economy at the outset and advocates its adoption in smart cities. It…

Abstract

This chapter critically discusses the literature on the subject of circular economy. It defines the circular economy at the outset and advocates its adoption in smart cities. It briefly explains the multiple phases of industrial revolution and the slow and gradual shift from a linear economy which is based on make-use-dispose model to a circular economy which relies on reusing and recycling the products produced in the production cycle. It then critically examines the legal challenges that can be associated with such a system. It draws on the lessons learnt from cities such as Amsterdam which has successfully implemented the system of circular economy. This chapter also delves into the Columbian waste management system to understand the market functioning in the waste management sector which is handled by private enterprises in the country. Moreover, the public–private partnership model in the Chinese city Suzhou is explored, and exciting methods of using this model were found.

Details

Smart Cities and Circular Economy
Type: Book
ISBN: 978-1-83797-958-5

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Case study
Publication date: 18 December 2018

Pushpender Kumar and Vijaya Sherry Chand

O.P. Sharma, Convener, Provident Fund (PF) Committee, Kirori Mal College, had to re-invest the amount to be received after the maturity of fixed deposits (FD) in Canara Bank…

Abstract

O.P. Sharma, Convener, Provident Fund (PF) Committee, Kirori Mal College, had to re-invest the amount to be received after the maturity of fixed deposits (FD) in Canara Bank, maturing on July 12, 2018 (INR 5.88 cr.) and on July 14, 2018 (INR 6.70 cr.). He wanted to reinvest the funds in bank FDs for more than a year but less than two years to earn the maximum interest possible, since the current market interest rate trends indicated a severe downfall of interest rates in the near future, but Ram Saran, Section Officer of the College, wanted to reinvest this money for less than one year since there would be a requirement of funds in the short term. However, given Saran's views, O. P. Sharma had to convince the committee members about the feasibility of his proposal for two-year FDs. The case will enable participants to identify the components of a financial investment decision making, investment analysis, evaluation of options and recommendation with the decision of investment plan.

Details

Indian Institute of Management Ahmedabad, vol. no.
Type: Case Study
ISSN: 2633-3260
Published by: Indian Institute of Management Ahmedabad

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Article
Publication date: 30 October 2024

Maninder Singh, Rushikesh Sonawane, Manjeet Singh, Akash Gupta, Harjit Singh, Gurram Mourya Chandra Gupta, Madhusudhan Gollapudi and Abdur Rahman

This study begins by outlining the core principles of how flat plate solar collectors (FPSC) operate and the underlying mechanisms of heat transfer. It underscores the pivotal…

19

Abstract

Purpose

This study begins by outlining the core principles of how flat plate solar collectors (FPSC) operate and the underlying mechanisms of heat transfer. It underscores the pivotal role of fin patterns in enhancing convective heat transfer.

Design/methodology/approach

The primary objective is to examine the impact of diverse fin patterns on the thermal performance of FPSCs. The study involves the development of a 3D-CFD model for FPSC using the computational fluid dynamics (CFD) software ANSYS FLUENT. The analysis is conducted for variable mass flow rates (mf) ranging from 0.01 to 0.05 kg/s with an interval of 0.02 kg/s. Each flow rate is assessed for three distinct fin patterns: straight plate fins, V-shaped fins and wavy fins. Recognizing the variation in solar radiation intensity throughout the day, the analysis is executed at six different time points ranging 10:00 a.m. to 03.00 p.m. with a time interval of 1.00 h.

Findings

It is observed that the wavy fin pattern with a mass flow rate of 0.01 kg/s exhibited the highest outlet temperature, showing a significant temperature difference of 12.4 K at noon. Conversely, the V-shaped fin pattern with a mf of 0.05 kg/s has the lowest temperature difference value, measuring only 3 K. The analysis included the calculation of thermal efficiency for each case, revealing that the V-shaped fin pattern at a mf of 0.05 kg/s and a sun radiation intensity of 885.42 W/m2 achieved the maximum instantaneous thermal efficiency (ηth) of 34.7%. The study records the outlet air temperature for all of these combinations and presents the data graphically in the paper.

Originality/value

The findings of the simulations indicate that the thermal performance that is ηth and maximum temperature of outlet air of FPSCs can be improved through the utilization of variable fin patterns.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

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Article
Publication date: 5 October 2021

Dain Thomas and Dinesh Khanduja

The purpose of this paper is to prioritize and establish relationships among the barriers that affect green, lean and Six Sigma (GLSS) implementation in the Indian construction…

484

Abstract

Purpose

The purpose of this paper is to prioritize and establish relationships among the barriers that affect green, lean and Six Sigma (GLSS) implementation in the Indian construction sector.

Design/methodology/approach

A hierarchal model consisting of several levels is generated by the interpretive structural modelling (ISM) methodology. For establishing the priority weights and the ranking of the barriers, the relationships among barriers from the model in ISM are used to provide an output from the analytic network process (ANP). The 12 vital barriers that affect implementation of GLSS adoption were shortlisted from literature and then finalized in consultation with experts belonging from both industry and academia.

Findings

Based on the ISM model “Lack of awareness for green products, Lack of top management commitment and involvement as well as Lack of funds along with an improper estimation” are at the highest level. Similar results were found while ranking the barriers through ISM–ANP integration.

Originality/value

This study identified and prioritized the barriers that affect GLSS implementation using ISM–ANP approach, such a study has not been attempted previously for the construction sector. The ISM model and ANP ranks are based on the inputs gathered from experts and academicians so as to ensure practical validity. This approach is assists decision-makers to focus on the key barriers priority basis and enables them to implement GLSS smoothly.

Details

International Journal of Lean Six Sigma, vol. 13 no. 2
Type: Research Article
ISSN: 2040-4166

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Article
Publication date: 31 January 2022

Akash Gupta and Manjeet Singh

The purpose of this study is to check the reliability of a multi-pin joint to be a fail-safe joint by considering different geometric and material parameters. The pin joints are…

63

Abstract

Purpose

The purpose of this study is to check the reliability of a multi-pin joint to be a fail-safe joint by considering different geometric and material parameters. The pin joints are made of uni-directional fiberglass that has been impregnated with epoxy composites incorporating 3% nano-clay.

Design/methodology/approach

This study incorporates the analysis of multi-pin joints experimentally, numerically and statistically using the Weibull approach. During analyses, geometrical parameters edge to diameter (E:D), longitudinal pitch to diameter (F:D), side edge to diameter (S:D) and transverse pitch to diameter (P:D) were analyzed using the Taguchi method with a higher-the-better L16 orthogonal array.

Findings

This study aims to develop multi-pin laminated joints to attain higher reliability, which have been designated as fail-safe joints for the intended application and which have higher joint strength. The study reveals that to achieve 99% reliability or 1% probability of failure using the Weibull approach, 24.4% load decrement from the experimental result recorded for three-pin joint configuration at E:D = 4, F:D = 5, S:D = 4 and P:D = 5. Similarly, for the four-pin configuration at E:D = 4, F:D = 4, S:D = 4 and P:D = 5, 23.07% of load decrement observed from the experimental result implies that the expected load with a 99% reliability offers a safe load.

Originality/value

A reliability analysis on multi-pin joints was not conducted in structural application. Composite materials are used because of high reliability and high strength-to-weight ratio. So, in the present work, reliability of the multi-pin joint is analyzed using Weibull distribution.

Details

World Journal of Engineering, vol. 20 no. 4
Type: Research Article
ISSN: 1708-5284

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Article
Publication date: 20 December 2023

Akash Gupta and Manjeet Singh

This study aims to evaluate the failure behavior of glass fiber-reinforced epoxy (GFRE) laminate subjected to cyclic loading conditions. It involves experimental investigation and…

54

Abstract

Purpose

This study aims to evaluate the failure behavior of glass fiber-reinforced epoxy (GFRE) laminate subjected to cyclic loading conditions. It involves experimental investigation and statistical analysis using Weibull distribution to characterize the failure behavior of the GFRE composite laminate.

Design/methodology/approach

Fatigue tests were conducted using a tension–tension loading scheme at a frequency of 2 Hz and a loading ratio (R) of 0.1. The tests were performed at five different stress levels, corresponding to 50%–90% of the ultimate tensile strength (UTS). Failure behavior was assessed through cyclic stress-strain hysteresis plots, dynamic modulus behavior and scanning electron microscopy (SEM) analysis of fracture surfaces.

Findings

The study identified common modes of failure, including fiber pullouts, fiber breakage and matrix cracking. At low stress levels, fiber breakage, matrix cracking and fiber pullouts occurred due to high shear stresses at the fiber–matrix interface. Conversely, at high stress levels, fiber breakage and matrix cracking predominated. Higher stress levels led to larger stress-strain hysteresis loops, indicating increased energy dissipation during cyclic loading. High stress levels were associated with a more significant decrease in stiffness over time, implying a shorter fatigue life, while lower stress levels resulted in a gradual decline in stiffness, leading to extended fatigue life.

Originality/value

This study makes a valuable contribution to understanding fatigue behavior under tension–tension loading conditions, coupled with an in-depth analysis of the failure mechanism in GFRE composite laminate at different stress levels. The fatigue behavior is scrutinized through stress-strain hysteresis plots and dynamic modulus versus normalized cycles plots. Furthermore, the characterization of the failure mechanism is enhanced by using SEM imaging of fractured specimens. The Weibull distribution approach is used to obtain a reliable estimate of fatigue life.

Details

World Journal of Engineering, vol. 22 no. 1
Type: Research Article
ISSN: 1708-5284

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