M. Awais, T. Hayat, M. Mustafa, K. Bhattacharyya and M. Asif Farooq
– The aim of this work is to analyze the combined effects of melting, thermal-diffusion and diffusion-thermo on the flow of non-Newtonian fluid.
Abstract
Purpose
The aim of this work is to analyze the combined effects of melting, thermal-diffusion and diffusion-thermo on the flow of non-Newtonian fluid.
Design/methodology/approach
An efficient approach namely homotopy analysis method is applied to compute the solution of the non-linear problem. Moreover, numerical results using MATLAB function bvp4c are also computed.
Findings
Main findings are an increase in the melting process corresponding to increase in the velocity and the boundary layer thickness. However, surface heat and mass transfer decrease by increasing the values of melting parameter M.
Originality/value
Combined effects of thermal-diffusion and diffusion-thermo are analyzed and the solutions are computed both numerically and analytically. Some deduced results can be obtained in a limiting sense.
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Sanjay K. Bhattacharyya and Zillur Rahman
Some strategy authors suggest that in an emerging market a local conglomerate enjoys certain potential advantages over a smaller focused firm. It can leverage its corporate image…
Abstract
Some strategy authors suggest that in an emerging market a local conglomerate enjoys certain potential advantages over a smaller focused firm. It can leverage its corporate image to build customer loyalty and raise funds from the capital market. It can mobilise resources from within the group companies to invest in enhancing the corporate image, in developing its own management‐training centre, and for liaison with the government and bureaucracy. It can also avoid retrenchment of surplus employees by transferring them across the group companies. The authors, however, contend that many of the advantages mentioned above cannot be realised in practice and the top management finds it difficult to effectively manage a large conglomerate. They suggest a model, which will help a conglomerate decide which businesses to retain or divest. They also highlight certain strategies adopted by Indian firms to combat foreign competition in the domestic market.
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Anuj Aggarwal, Sparsh Agarwal, Vedant Jaiswal and Poonam Sethi
Introduction: Historically, the corporate governance (CG) framework was designed primarily to safeguard the economic interests of shareholders, as a result of political and legal…
Abstract
Introduction: Historically, the corporate governance (CG) framework was designed primarily to safeguard the economic interests of shareholders, as a result of political and legal interventions, developing into an effective instrument for stakeholders and society in general.
Purpose: The core objectives of the study include: identifying journals/publications responsible for publishing CG studies in India, key CG issues covered by CG researchers, the amount of high-impact CG literature across different time periods, sectors/industries covered by CG researchers and different research instruments (quantitative or qualitative) used in CG studies in India.
Design/methodology: The chapter used a sample of 130 corporate governance studies that fulfil the selection criteria, drawn from the repository of over 100 reputed journals that are either recognised by the Australian Business Deans Council (ABDC) or indexed by SCOPUS. A systematic literature review has been carried out pertaining to CG issues in India, based on various statistical tools, data, industries, research outlets & citations, etc.
Findings: The results show an overwhelming number of studies have assessed the relationship between CG variables and firm performance, which could be measured through a variety of performance metrics such as ROA and ROI. Apart from empirical analysis, many conceptual studies use repetitive basic statistical tools like descriptive statistics or regression analysis. The chapter offers insights into current achievements and future development.
Originality/value: This bibliometric study is a useful guide for policymakers, corporate leaders, research organisations and management faculty to draw insights from work produced by eminent researchers in GC in India.
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Special libraries in science and technology constitute a vital link in the process of information transfer. A study of how special libraries in the UK are functioning at present…
Abstract
Special libraries in science and technology constitute a vital link in the process of information transfer. A study of how special libraries in the UK are functioning at present is essential to any planning for a general improvement in their services and to heighten their contribution to the country's scientific and technological progress. This paper records the partial findings of a recent survey and is concerned with the identification and analysis of the essential elements of the framework within which special libraries work: such as, the nature of their management, major activity of the parent organization, subject‐specialization of the library's holding, documentation activity, staff‐structure, budget‐provision, size of library stock, and its growth rate, weeding‐out policy, etc. It brings out the wide variation in the behaviour pattern of special libraries in science and technology, belonging to different categories, e.g. libraries in private firms vis‐à‐vis government libraries, or basic research vis‐à‐vis applied research libraries. It also draws attention to areas of deficiency where action is needed.
Debasis Pahi and Inder Sekhar Yadav
The purpose of this paper is to investigate the nexus between corporate governance and dividend policy of listed Indian firms.
Abstract
Purpose
The purpose of this paper is to investigate the nexus between corporate governance and dividend policy of listed Indian firms.
Design/methodology/approach
Using new corporate governance stipulations, five new indices were constructed, namely, overall board governance index, board structure index, audit committee index, compensation committee index and nomination committee index. Using the newly developed indices, disclosure index and different firm-specific control variables, different panel Logit and Tobit regression models were estimated for 482 non-financial and non-utility listed firms during 2006–2017. Also, before the econometric analysis, mean difference test was conducted to examine the differences in dividend behaviour and corporate governance practices during pre- and post-Companies Act, 2013 and between payers and non-payers.
Findings
The overall evidence suggests that the firms having stronger corporate governance tend to pay higher dividends suggesting that the firm’s propensity to pay dividends increases with the improvement in corporate governance standards. Among the corporate governance indices board structure, audit committee and disclosure norms show a significant and positive relationship, whereas compensation committee and nomination committee show a positive but insignificant relationship with dividend policy. Control variables mostly had the expected impact on the dividends of the firms.
Practical implications
This study suggests that the establishment of the strong and effective corporate governance system is desirable to mitigate the agency conflicts between managers and shareholders and limit managers’ opportunistic behaviour in dividend payout policy.
Originality/value
This study is one of the latest studies to use several newly constructed indices on corporate governance mechanism based on new stipulations which bring new evidence on their specific impact on the dividend policy for an emerging market economy like India.
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Cranfield II's findings on the unexpectedly low retrieval performance of thesauri (rank order 19 among 33 index languages) led Cleverdon to conclude that ‘there are situations…
Abstract
Cranfield II's findings on the unexpectedly low retrieval performance of thesauri (rank order 19 among 33 index languages) led Cleverdon to conclude that ‘there are situations where the intellecutal effort involved in the construction and maintenance of controlled vocabularies is unjustified.’ Lancaster has cited the figure of more than half a million dollars, appropriated for the construction of TEST, the Thesaurus of Engineering and Scientific Terms. Recently Keen has provided some additional information, casting further doubts on the utility, in serious retrieval work, of any explicit display of relations between terms.
This paper aims to investigate the impact of board characteristics on CEO turnover performance relationship (TPR) in Indian listed firms.
Abstract
Purpose
This paper aims to investigate the impact of board characteristics on CEO turnover performance relationship (TPR) in Indian listed firms.
Design/methodology/approach
A subset of the Standard and Poor’s Bombay Stock Exchange 500 (S&P BSE 500) Index companies was analyzed over the period 2015–2019 using the logistic (fixed-effects) regression model.
Findings
It was found that a weak relationship exists between CEO turnover and firm performance. With respect to board characteristics, board size was found to have a significant role in strengthening the TPR. However, other characteristics, such as board independence, multiple directors, board meetings and board gender diversity, played no role in influencing the TPR.
Research limitations/implications
First, the study period is limited to five years, during which several sample firms did not face any CEO turnover event leading to small sample size. Second, this study considers only the board’s gender diversity, whereas other types of diversity are omitted. Third, this study does not differentiate between insider and professional CEOs.
Practical implications
The findings suggest that regulators should focus on the effective enforcement of laws to strengthen the TPR and improve the monitoring role of boards, particularly in emerging economies like India, which face type II agency problems in addition to traditional principal–agent conflict. The results also offer implications for corporations, investors and academic researchers, highlighting areas that need considerable attention pertaining to corporate governance.
Originality/value
This study discerns the impact of several board-related characteristics on the TPR, particularly after the introduction of the new Companies Act 2013 in the emerging economy of India, where it has not been explored extensively.
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S.F. Lee, P. Roberts, W.S. Lau and S.K. Bhattacharyya
The Art of War, by the ancient Chinese military theorist Sun Tzu, is the most famous work on military operation in ancient China and the books have been repeatedly translated…
Abstract
The Art of War, by the ancient Chinese military theorist Sun Tzu, is the most famous work on military operation in ancient China and the books have been repeatedly translated, investigated and discussed. Today, Sun Tzu’s The Art of War remains a compulsory text in major military schools around the world and its influences on twentieth century military thinking is undisputed. Also in recent times, the use of military strategies in the business and management contexts is increasing. This paper proposes a set of criteria based on Sun Tzu’s philosophy for evaluation of business management strategies against the world class business excellence models. The total quality management models of the European Quality Award and the Malcolm Baldrige National Quality Award are used to compare with Sun Tzu’s business management strategy model developed under the quality function deployment (QFD) methodology. The results of the QFD methodology can be used as performance indicators showing organisations’ improvement priorities for self‐assessment.
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Mohammad Abdul Jalil, Rabindra Chandra Sinha, A.K.M. Mahabubuzzaman, Md. Milon Hossain and Mohammad Arafat Idris
A study is performed on the properties of jute-pineapple leaf fiber (PALF) blended yarn and 100% jute yarn. The jute-PALF blend ratios of two counts of yarn (5 and 7 lbs/spy) are…
Abstract
A study is performed on the properties of jute-pineapple leaf fiber (PALF) blended yarn and 100% jute yarn. The jute-PALF blend ratios of two counts of yarn (5 and 7 lbs/spy) are 70:30 and 80:20 respectively. The physical properties of the blended yarns such as load at break, strain at break, tenacity at break, tensile modulus and quality ratio are tested and measured. It is observed from the test results that the physical properties of the blended yarns are better than those of the 100% jute yarn. The experimental results also show that the physical and structural properties of the blended yarn changes with the increase of PALF in the blend ratio. So the blending of PALF has a positive impact on yarn properties. Another study is done, in which it is found that surface appearance properties like color strength (K/S value) and whiteness, yellowness and brightness indices of the blended yarns are almost the same as those of the jute yarn due to the blending of jute-PALF. Therefore, the blending ratio does not cause any notable changes in the natural color of the jute yarn.
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The purpose of this study is to examine the impact of corporate governance (CG) on chief executive officer compensation (CEO COMP) and pay–performance relationship (PPR) in Indian…
Abstract
Purpose
The purpose of this study is to examine the impact of corporate governance (CG) on chief executive officer compensation (CEO COMP) and pay–performance relationship (PPR) in Indian listed firms.
Design/methodology/approach
A sample of 196 companies listed on the S&P BSE 500 (Standard and Poor's Bombay Stock Exchange 500) Index has been analyzed using the panel (random effects) regression technique over the period 2010–2019. In addition, the system GMM technique was used to deal with the endogeneity issue.
Findings
The study found that block ownership and ownership concentration negatively impact COMP measures and PPR. Board size also had a negative direct and moderating impact on CEO COMP; however, the linkages were generally insignificant, especially for total pay. Similarly, outsider blockholders were found to be playing an insignificant role. Further, board independence positively influences COMP levels and PPR, though the results were mixed with respect to significance. Finally, CEO duality positively and significantly influences CEO COMP and PPR. A comparison before and after the new Indian Companies Act 2013 also revealed similar results, particularly in the after period. It suggests that the new legislative initiative was not effective enough in improving the CG and, hence, the alignment of pay with performance.
Originality/value
This study investigates the direct and moderating impact of CG on CEO COMP in the context of emerging economy India. Further, it makes a comparison before and after the introduction of the new governance reform, that is, the Indian Companies Act, 2013. Moreover, providing support to the entrenchment effect, the study reveals that large shareholders expropriate minority shareholders’ wealth by not aligning CEO pay with performance, making agency problems graver in emerging economies like India.