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The purpose of this paper is to show that there did exist a typical “managing agency system” in pre‐independent corporate India, which itself was a significant and powerful system of corporate governance.

This is a qualitative exploration and analysis of the nineteenth century model of corporate governance and its impact on industrialisation in pre‐independent India.

Initially, the system of managing agency was instrumental in improving the performances of companies through economies of scale and scope and other best practices. Gradually, over the century it became corrupt and opposed to the interests of majority of the stakeholders. However, the superstructure of the system, even though not backed by any legal framework, has been found to be solid and not inferior to the present day corporate governance system and practices.

Because of the absence of corporate data warehousing, and lack of presence of corporate and business literature in the nineteenth century, the research could not be made empirical. Much of comparisons could not be made between the now and then corporate practices, management style and financial performances.

The findings and analysis of this paper provide a direction to the policy makers, governments and researchers in formulating an alternative model of corporate governance for sustainable development of the society.

The paper is one of the few attempts made so far on the subject and rediscovers “managing agency system” in the light of the corporate governance practices of modern times. It has paved the path for further meaningful and value adding deliberations and researches.

In the past three centuries in India, outsiders have dominated economic fortunes. Yet, for a brief interlude for two decades (i.e. in the 1830s and 1840s), the Bengalis from Eastern India played a dominant role in the modern business sector of the economy as partners of the British. The singular reason behind this phenomenon was the role of Dwarkanath Tagore (DT) in building multiple multiracial business partnerships in a myriad of businesses. This study aims to demonstrate how all of these activities were synthesized in an integrated marketing approach and how DT was the catalyst in forging these partnerships with the British East India Company and other enterprises.

A historical research method is used in critically examining the business practices of DT. Resources include a few biographies about him as well as several print sources, including several publications owned by him.

DT’s approach to an integrated marketing approach in the nineteenth century, involved the traditional production, distributional and promotional components, and he understood the significance of using all tools at his disposal to reach his market using these synergies, each reinforcing his main self-identify was that of an entrepreneur. He used forward integration techniques in running other operations, e.g. distribution, publishing, advertising and promotion of his products. His multiracial social networks for business and social activities are also identified.

This study synthesizes different sections of DT’s businesses and illustrates how he used integrated marketing to build an enterprising, profit-making business, which was good for both the economy of Bengal and that of the British East India Company and his other partners. The study also establishes him as a pioneering Indian entrepreneur and identifies major social networks with other business partners (both Indian and British).

The purpose of this study is to introduce working capital efficiency multiplier (WCEM) as a direct profitability measure of working capital management. The existing accounting measures in the literature establish an indirect approach to study the relationship between working capital efficiency and profitability of the firms.

Using the help of a set of companies from CMIE Prowess database, the study introduces WCEM as a direct profitability measure of working capital efficiency.

In this study, a new direct measure of working capital efficiency is introduced which is multiplicative in nature. WCEM is a product of three components, namely, WACC, ratio of the sum of trade receivables and inventories to trade payables and ratio of net working capital (NWC) to net sales.

The importance of direct measure like WCEM could be enormous in performance evaluation of a firm. It can be used as an indicator for choosing a suitable investment opportunity by an investor. This is due to the fact that the firm that is highly efficient in managing working capital is less exposed to liquidity risk. At the same time, the firm is less dependent on external financing. Therefore, such firms eventually create more value for their shareholders. Another indication that WCEM provides is to gauge the bargaining power of the firm and its competitive position in the market. Lower WCEM indicates higher bargaining power of a firm across the value chain, and its superior position relative to its competitors.

Most of the studies on WCM are of the empirical type and there is a complete dearth on theoretical framework. Researchers hereafter can consider WCEM as one of the financial performance variables in place of the existing measures such as return on asset (ROA), return on invested capital (ROIC), return on equity (ROE), gross operating income (GOI) and net operating income (NOI) and thereby can contribute new empirical insights through their research outcomes.

A company as an entity could cease to exist owing to its merger and dormancy in activity. The latter can be attributed to two causes – unsustainability of present state of production or shell companies. Therefore, three questions are posed – one, why do companies merge, two – why do companies shut down and third – of those that disappear can they be identified as shell.

The motives for each of these cases of disappearance of a company are enlisted and a firm-level analysis is undertaken where each firm is compared with a counterfactual.

It is found that companies that survived despite the inefficiencies and smaller market shares were the ones that had some foreign affiliation and were unrelated to existing business entities. On the other hand, the dormancy or shutdown can be attributed to lack of access to imported technology and low shares of market with dismal profitability. With the growing intensity of globalisation, the Indian corporate sector is now more prone to global economic conditions. Lastly, the disappearance or shutdown of companies that may have been used for tax avoidance is supported by the data.

The present study is the first to amalgamate and discuss various the causes for shutdown of companies. Further, the methodology adopted is unique in terms of the use of counterfactuals.

Examines one of the most important reforms relating to public enterprise (PE) policy in India, namely divestment of their share‐holdings. Discusses the philosophy, process, organizational mechanism, expectations and outcomes of divestment in PEs. Finally, points out the major weaknesses retarding the success of the newly introduced divestment policy and outlines some reformatory measures to overcome them. As a backdrop, presents the historical background, current scenario, and problems and performance of PEs in India, but has been restricted to the central PEs, i.e. enterprises owned and managed by the central government only.

Many children who are looked after by the state have experienced adverse and traumatic life circumstances prior to being removed from their biological parents. Previous research has highlighted that many of them experience barriers to accessing psychological therapies. The purpose of this paper is to investigate the feasibility of assessing post-traumatic stress disorder (PTSD)-like symptoms using a screening tool, and through this to determine the prevalence of PTSD-like symptoms in looked after children presenting with emotional and/or behavioural problems.

The Child Revised Impact of Events Scale (CRIES-8) was identified as a suitable screening tool for PTSD-like symptoms. This measure was piloted for three months, and the prevalence of PTSD-like symptoms amongst respondents (n=27) was recorded.

Prevalence of PTSD-like symptoms was found to be high 75 per cent amongst respondents. The psychometric properties of the CRIES-8 were similar to those found in a previous study assessing PTSD following a single-incident trauma. Health care professionals reported finding the CRIES-8 to be a clinically useful measure.

Prevalence of PTSD-like symptoms may be high amongst looked after children, and the CRIES-8 appears to have good psychometric properties when used with this population. It is likely that this highly treatable condition is under-detected: thus, recommendations are made for clinical practice and further research.

This study aims to examine the effectiveness of governance in state-owned enterprises (SOEs) and explores if board independence enhances the firm value of SOEs in India and China. The study further explores the moderation impact of promoter ownership in enhancing firm value.

The study is confined to government-owned enterprises in India and China and is based on a sample of 53 central government-owned firms listed in National Stock Exchange of India and 110 state-owned firms listed in Shanghai Stock Exchange of China for the period 2010–2017. A fixed-effect panel regression analysis has been used to examine the effect of board independence on firm value.

The study found that board independence adds value to the SOEs in India and China and the presence of independent directors (IDs) in the board of SOEs act as better monitors of performance to protect the interest of minority shareholders. Probably, they minimize agency conflict and provide resources to the firm and management. The greater the government shareholdings, the board independence further enhances value of SOEs in India and China.

Compliance with guidelines on IDs in SOEs serves as an effective corporate governance mechanism and the presence of IDs can signal better firm performance. The government promoters align with the IDs in better monitoring of SOE performance.

The study is unique and contributes to the literature by examining the impact of board independence on firm value in the context of SOEs in India and China and also provides insight on the effect of promoter ownership on the effectiveness on board independence.

This paper aims to design a multi-layer convolutional neural network (CNN) to solve biomimetic robot path planning problem.

At first, the convolution kernel with different scales can be obtained by using the sparse auto encoder training algorithm; the parameter of the hidden layer is a series of convolutional kernel, and the authors use these kernels to extract first-layer features. Then, the authors get the second-layer features through the max-pooling operators, which improve the invariance of the features. Finally, the authors use fully connected layers of neural networks to accomplish the path planning task.

The NAO biomimetic robot respond quickly and correctly to the dynamic environment. The simulation experiments show that the deep neural network outperforms in dynamic and static environment than the conventional method.

A new method of deep learning based biomimetic robot path planning is proposed. The authors designed a multi-layer CNN which includes max-pooling layer and convolutional kernel. Then, the first and second layers features can be extracted by these kernels. Finally, the authors use the sparse auto encoder training algorithm to train the CNN so as to accomplish the path planning task of NAO robot.

THE catalogue, as a library appliance of importance, has had more attention devoted to it than, perhaps, any other method or factor of librarianship. Its construction, materials, rules for compilation and other aspects have all been considered at great length, and in every conceivable manner, so that little remains for exposition save some points in the policy of the catalogue, and its effects on progress and methods. In the early days of the municipal library movement, when methods were somewhat crude, and hedged round with restrictions of many kinds, the catalogue, even in the primitive form it then assumed, was the only key to the book‐wealth of a library, and as such its value was duly recognized. As time went on, and the vogue of the printed catalogue was consolidated, its importance as an appliance became more and more established, and when the first Newcastle catalogue appeared and received such an unusual amount of journalistic notice, the idea of the printed catalogue as the indispensable library tool was enormously enhanced from that time till quite recently. One undoubted result of this devotion to the catalogue has been to stereotype methods to a great extent, leading in the end to stagnation, and there are places even now where every department of the library is made to revolve round the catalogue. Whether it is altogether wise to subordinate everything in library work to the cult of the catalogue has been questioned by several librarians during the past few years, and it is because there is so much to be said against this policy that the following reflections are submitted.