Raymond F. Gorman and Gautam Vora
This study examines the distortive effects of the states’ regulatory climate on the underwriting costs of new equity issues of public utilities. Each state has its own public…
Abstract
This study examines the distortive effects of the states’ regulatory climate on the underwriting costs of new equity issues of public utilities. Each state has its own public utility commission (or public service commission) to regulate the natural monopolies of public utilities. The wealth‐maximizing behavior of utilities is constrained by the rate‐making process monitored by the commissions. The policies of a state’s commission collectively establish the ’regulatory climate’ in that state. Using a sample of new equity securities issued, during the period from January 1973 through September 1980, by utilities listed on the New York Stock Exchange and the American Stock Exchange, we investigate the effect of the regulatory climate on underwriting costs. Our findings are that,in general, the direct costs of flotation, namely, underwriting commissions and out‐of‐pocket expenses,are positively related to regulatory climate where as the indirect cost of flotation, namely, underpricing of the new issue, is negatively related to regulatory climate. These results are counter intuitive since they imply that as the regulatory climate becomes more unfavorable the direct costs of flotation increase and the indirect cost of flotation decreases. This is clearly a distortive effect of the regulation and we offer some explanations for it.
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Suresh C. Srivastava and Musa Essayyad
Financial institutions that are marketing tax‐sheltered plans claim that the implied rates of return of tax‐sheltered strategies are superior to those rates of return realized…
Abstract
Financial institutions that are marketing tax‐sheltered plans claim that the implied rates of return of tax‐sheltered strategies are superior to those rates of return realized from taxable plans. The purpose of our paper is to investigate that claim. To accomplish our purpose, we have developed a model to determine, under different assumptions of various tax rates, the incremental benefits and the implied rates of returns of tax‐deferred investments over the taxable investments. When the model is applied, the results show that tax‐deferred investments are not always superior. Consequently, investors may not have a choice but to select portfolios at the lower end of the efficient frontier.
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Davina Vora and Tatiana Kostova
This paper aims to examine the individual-level headquarters–subsidiary relationship issue of psychological attachment in multinational enterprises (MNEs). Antecedents to…
Abstract
Purpose
This paper aims to examine the individual-level headquarters–subsidiary relationship issue of psychological attachment in multinational enterprises (MNEs). Antecedents to subsidiary manager identification and commitment to the MNE and subsidiary are explored.
Design/methodology/approach
Those in subsidiary manager roles regardless of country of origin were surveyed. Hypotheses were tested using partial least squared structural equation modeling.
Findings
For both MNE and subsidiary models, perceived prestige related to commitment. All components of positive interaction related to subsidiary commitment (but not identification), while just one related to MNE identification and commitment. For the MNE model only, collectivism positively related to identification and commitment, cultural distance positively related to commitment, geographic distance negatively related to commitment, and language similarity marginally negatively related to commitment. Organization-based self-esteem (OBSE) partially mediated relationships of perceived prestige and positive interaction with commitment in MNE and subsidiary models.
Research limitations/implications
This microfoundational approach to psychological attachment in an MNE setting suggests similarities and differences for antecedents in MNEs and subsidiaries, as well as the importance of OBSE. This study is limited by its exclusion of other antecedent variables and types of attachment, and a cross-sectional study design.
Practical implications
MNEs can increase psychological attachment by communicating the importance of the MNE and/or subsidiary, developing processes to improve interactions with other organizational units, and demonstrating that employees are valued.
Originality/value
Exploration of the individual-level of analysis of headquarters–subsidiary relationships is rare, and different findings for the MNE and subsidiary are highlighted, something that is not fully explained by current research on psychological attachment.
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Swati Chaudhary, Aditi Gupta, Apoorva A., Ranjan Chaudhuri, Vijay Pereira, Sheshadri Chatterjee and Sumana Chaudhuri
This paper aims to examine the evolution of organizational identification (OI) research over the past five decades and its journey through various lenses, such as the…
Abstract
Purpose
This paper aims to examine the evolution of organizational identification (OI) research over the past five decades and its journey through various lenses, such as the collaborative network of authors, organizations and countries. The conceptual and intellectual structure of the construct is analysed via keywords and co-citation pattern mapping.
Design/methodology/approach
OI research is rising in popularity, with 118 papers published in 2019, 168 papers in 2020 and 15 publications till February 2021 in the Scopus database. The Scopus database is used to retrieve 55 years of OI studies published between 1965 and 2021. The free bibliometric tools Biblioshiny and VOSviewer are used to analyse 1,034 journal papers.
Findings
The result showed that R. Van Dick is the most influential author and the USA is the most involved country in OI research. As per the findings, the Journal of Organizational Behaviour published most of OI research and “corporate social responsibility” and “organizational commitment” seem to be the most used keywords alongside OI.
Research limitations/implications
This study will be highly beneficial to OI researchers making their understanding about the construct better. It will also encourage social psychologists to understand the construct utility in workplace social welfare programmes. The research could also help governments and funding bodies to evaluate grant requests. Furthermore, researchers from countries with the lowest proportion of OI studies would be encouraged to spend more time and effort in this area. It will offer insight into international marketing and how individuals and stakeholders perceive and connect with an organization globally.
Originality/value
To the best of the authors’ knowledge, this study is one of the important research studies carried out in the domain of OI in the international context. This is also one of the few studies which is spread out across different disciplinary areas including international marketing and management. The success of this paper can open avenues and influence future researchers to study in the OI and related cross-disciplinary areas of international management.
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The purpose of this paper is to examine the regional variations in maternal and child health all over India. The Maternal and Child Health Index (MCHI) is constructed to find the…
Abstract
Purpose
The purpose of this paper is to examine the regional variations in maternal and child health all over India. The Maternal and Child Health Index (MCHI) is constructed to find the extent of variations in maternal and child health status for the States and Union Territories (UTs) of India.
Design/methodology/approach
The Wroclow taxonomic technique was used to construct the MCHI for the States and UTs of India. In all, 29 variables were selected for the construction of MCHI. All the variables were taken from National Family Health Survey-4 (NFHS, 2017) of India.
Findings
The findings suggest that there are wide variations in MCHI all over India. In India, Kerala topped in terms of MCHI followed by Jammu & Kashmir. Nagaland is on the bottom of the list followed by Bihar and Uttar Pradesh. High values of MCHI (> 0.4) are posing a serious concern for all States/UTs in India.
Social implications
The existence of inequality in MCHI for India is truly posing a serious inquiry regarding the healthcare system in India. The outcome of the study demands that time has come to adopt a human rights approach to the right to health in India. The findings of the study could be used by the health policy makers in India.
Originality/value
This study shows the existence of wide variations in the quality of maternal and child health all over India. The quantification of the quality of maternal and child health is needed to improve the health of the population in India. Little research has been done on the issue of quality of maternal and child health in India. This study is an important contribution to the current knowledge of quality of maternal and child health in India.
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Dirk Holtbrügge and Marc Oberhauser
This paper aims to examine how future top managers in India develop their corporate social responsibility (CSR) orientation. Based on socialization theory, this paper investigates…
Abstract
Purpose
This paper aims to examine how future top managers in India develop their corporate social responsibility (CSR) orientation. Based on socialization theory, this paper investigates how individual determinants influence CSR orientation by focusing on the two main drivers of CSR in India – the philanthropic and strategic imperatives.
Design/methodology/approach
A survey of 204 students currently enrolled in a post-graduation program at an Indian Institute of Management was conducted via an online questionnaire. By applying a logistic regression analysis, determinants of CSR orientation are revealed.
Findings
The results of the study indicate the influence of different factors of primary and secondary socialization on an individual’s CSR orientation. The study finds that women and younger individuals have a tendency toward a strategic CSR orientation. Alternatively, religiousness and emotional stability predict a philanthropic CSR orientation. Furthermore, business school education leads to a strategic CSR orientation.
Research limitations/implications
The study focuses on a number of determinants that were evaluated to be important. Future research should broaden the scope and include additional, and more sensitive, factors.
Practical implications
The study provides insights that organizations can incorporate in their recruiting processes to strengthen their CSRO development.
Originality/value
The study addresses the gap that exists in current literature on CSRO in India by not just describing but diving deeper and investigating the demographic and psychographic determinants of individuals’ CSRO. A step further is taken to identify individuals’ inclinations toward either a strategic or a philanthropic approach to CSR.
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Susheel Pandey, Rajeev Srivastava, Christ Prakash Paul, Arun Kumar Rai and Rakesh Narain
The aim of this paper is to study the effect of laser shock peening (LSP) on mechanical behaviour of the laser-directed energy deposition (LDED)-based printed 15-5 PH stainless…
Abstract
Purpose
The aim of this paper is to study the effect of laser shock peening (LSP) on mechanical behaviour of the laser-directed energy deposition (LDED)-based printed 15-5 PH stainless steel with U and V notches. The study specifically concentrates on the evaluation of effect of scan strategy, machining and LSP processing on microstructural, texture evolution and fatigue behaviour of LDED-printed 15-5 PH steel.
Design/methodology/approach
For LSP treatment, 15-5 PH steel was printed using LDED process with bidirectional scanning strategy (XX [θ = 0°) and XY [θ = 90°]) at optimised laser power of 600 W with a scanning speed of 300 mm/min and a powder feed rate of 3 g/min. Furthermore, LSP treatment was conducted on the V- and U-notched fatigue specimens extracted from LDED-built samples at laser energy of 3.5 J with a pulse width of 10 ns using laser spot diameter of 3 mm. Post to the LSP treatment, the surface roughness, fatigue life assessment and microstructural evolution analysis is performed. For this, different advanced characterisation techniques are used, such as scanning electron microscopy attached with electron backscatter diffraction for microstructure and texture, X-ray diffraction for residual stress (RS) and structure information, Vicker’s hardness tester for microhardness and universal testing machine for low-cycle fatigue.
Findings
It is observed that both scanning strategies during the LDED printing of 15-5 PH steel and laser peening have played significant role in fatigue life. Specimens with the XY printing strategy shows higher fatigue life as compared to XX with both U- and V-notched conditions. Furthermore, machining and LSP treatment led to a significant improvement of fatigue life for both scanning strategies with U and V notches. The extent of increase in fatigue life for both XX and XY scanning strategy with V notch is found to be higher than U notch after LSP treatment, though without LSP samples with U notch have a higher fatigue life. As fabricated sample is found to have the lowest fatigue life as compared to machines and laser peened with both scan strategies.
Originality/value
This study presents an innovative method to improve the fatigue life of 15-5 PH stainless steel by changing the microstructure, texture and RS with the adoption of a suitable scanning strategy, machining and LSP treatment as post-processing. The combination of preferred microstructure and compressive RS in LDED-printed 15-5 PH stainless steel achieved with a synergy between microstructure and RS, which is responsible to improve the fatigue life. This can be adopted for the futuristic application of LDED-printed 15-5 PH stainless steel for different applications in aerospace and other industries.
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The British East India Company (EIC) made connections between the Malay Archipelago and Bengal and established a penal settlement at Bencoolen, followed by the Straits Settlements…
Abstract
Purpose
The British East India Company (EIC) made connections between the Malay Archipelago and Bengal and established a penal settlement at Bencoolen, followed by the Straits Settlements for the Indian convicts. The convicts from different parts of South Asia today were generally described as “Indian”, such generalisation often hides the identity of specific convicts from South Asia. Among the Indian convicts, the Bengalis were transported to Bencoolen and the Straits Settlements. However, the generic term has made it difficult to reconstruct the history of Bengali convicts’ experiences and pathos. Therefore, this paper attempts to “rediscover” the afterlife of transportation of Bengali felons in the Malay Peninsula.
Design/methodology/approach
By examining a range of archival records and current scholarships, this article shows the inclusivity, diversity and accessibility of convict labourers with mainstream society. This study will open up a new avenue of convict histories and subaltern studies on Asia.
Findings
The Bengali convicts in the Straits Settlements, one of the oldest migrant sections, have largely been ignored in historical literature. Though the Bengalis, among other South Asian convicts, constituted a significant portion, they were categorised under the generic term “Indian” (Rai, 2014). Their manual labour was invaluable for the colonial economy and the development of the Straits Settlements.
Research limitations/implications
Researcher faced difficulties to get the descendant of Bengali convicts.
Originality/value
This article is a research paper based on mostly archival records; therefore, it is an original contribution to the existing knowledge on the convict history.