Rakesh Mishra and Sheeba Kapil
This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.
Abstract
Purpose
This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.
Design/methodology/approach
Corporate governance structures of 391 Indian companies out of CRISIL NSE Index (CNX) 500 companies listed on national stock exchange (NSE) have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on assets [ROA]).
Findings
The empirical findings indicate that market-based measure (Tobin’s Q) is more impacted by corporate governance than accounting-based measure. There is significant positive association between promoter ownership and firm performance. It is also indicated that the relationship between promoter ownership and firm performance is different at different levels of promoter ownership. Board size is found to be positively related to ROA; however, board independence is not found to be related to any of the performance measures.
Research limitations/implications
Limitations of the study are in terms of data methodology and possible omission of some variables. It is felt that endogeneity and reverse causality might be better addressed using simultaneous equation methodology.
Originality/value
The paper adds to the emerging body of literature on corporate governance performance relationship in Indian context using a reasonably wider and newer data set.
Details
Keywords
Rakesh Kumar Mishra and Sheeba Kapil
This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.
Abstract
Purpose
This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.
Design/methodology/approach
Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on asset [ROA]).
Findings
The empirical findings indicate that the market-based measure (Tobin’s Q) is more impacted by corporate governance than the accounting-based measure (ROA). There is a significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of chief executive officer and chairman of the board is found to be value-creating, and overburdened directors affect firm performance adversely.
Research limitations/implications
Limitations of the study are in terms of methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decision-making process adopted by the boards to fight competition or to increase market share is not easily available in public domain. The decision-making processes and monitoring for implementation of those decisions could impact corporate governance performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study.
Originality/value
The paper adds to the emerging body of literature on corporate governance performance relationship in the Indian context by using a reasonably wider and newer data set.
Details
Keywords
Rakesh Kumar Mishra and Sheeba Kapil
The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.
Abstract
Purpose
The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.
Design/methodology/approach
Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance.
Findings
Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study.
Research limitations/implications
Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship.
Originality/value
The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.
Details
Keywords
Rakesh Mishra and Syed Mohammad Saad
Use of fossil fuels in automotive sector is one of the primary causes of greenhouse emissions. The automotive engines need to perform at their best efficiency point to limit these…
Abstract
Purpose
Use of fossil fuels in automotive sector is one of the primary causes of greenhouse emissions. The automotive engines need to perform at their best efficiency point to limit these emissions. Most of the quality indicators in this regard are based on near steady state global operational characteristics for engines without considering local performance. In the present study, extensive numerical simulations have been carried out covering a wide range of steady state and transient operating conditions to quantify interaction of turbocharger with engines through turbo lag phenomena which may cause increased emissions during the load change conditions. Furthermore possible innovations have been explored to minimize turbo lag phenomena. The paper aims to discuss these issues.
Design/methodology/approach
In this paper quality indicators have been developed to quantify the performance of turbocharged diesel engine under the transient event of rapid change in fueling rate which has been rarely investigated. The rate of fueling is changed from 40 mm3/injection to 52 mm3/injection at 1,000 rpm engine speed which corresponds to normal operating condition. To improve quality of transient response, torque assistance method and reduction of inertia of compressor wheel have been used. Parametric study has been undertaken to analyze the quality indicators such as outlet pressure of the compressor and the compressor speed. The turbo lag is quantified to obtain the close to optimal transient response of turbocharged diesel engine.
Findings
It has been shown that, with torque assist the transient response of the internal combustion engine is significantly improved. On the other hand, marginal improvement in transient response is observed by the reduction in inertia of the compressor wheel.
Research limitations/implications
The findings indicate that turbo lag can be minimized by providing torque assistance by active and passive means.
Practical implications
The developed methods can be used in practice for efficient operation of vehicles.
Social implications
The work carried out in the paper provides a way to minimize harmful emissions.
Originality/value
The quality indicators developed provide a quantitative measure of turbo lag phenomena and address the above mentioned problems.
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Recent years have produced significant demand for geographical contributions to the study of social movements in general and of environmental social movement organizations (ESMOs…
Abstract
Recent years have produced significant demand for geographical contributions to the study of social movements in general and of environmental social movement organizations (ESMOs) in particular. Geographical approaches to the study of ESMOs emphasize “the mediation of social movement agency by place” (Miller, 2000; Routledge, 1993) and call attention to the role of place-based environmental knowledge (EK) in the broader “struggle(s) over meaning” that increasingly constitute environmental politics (Buechler, 1997; Escobar, 1992; Rangan, 2000; Watts, 1990). My chapter responds to this call by providing an examination of the reproduction of EK by antipollution organizations in India’s central Ganges River Basin (GRB). Through interviews with organization leaders and members, along with analysis of organizational websites and publications, I examine the EK of two key antipollution organizations in the GRB: The Sankat Mochan Foundation (SMF) and Kanpur Eco-Friends (KEF). Analysis focuses on methods of knowledge reproduction employed by each organization, their respective framing practices, and the localized natures of the EK they reproduce. I argue that each organization works to reproduce a specific and place-based understanding of pollution in the GRB that informs their framing of the pollution problem, the tactical activities in which their members engage, and the power relations that exist between the two organizations and their leaders. Further, I argue that engaging with EK as both a method of understanding pollution and a tactic for consolidating political power is essential to making sense of the relative success of these movement organizations and the challenges they face in trying to build a broader coalition and mass-mobilization against pollution in the Ganges.
Details
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Rahul Mishra, B. Koteswara Rao Naik and Rakesh D. Raut
Although the research promotes deploying renewable energy technologies (RETs) due to their inherently eco-friendly characteristics, consumer acceptance is relatively low, making…
Abstract
Purpose
Although the research promotes deploying renewable energy technologies (RETs) due to their inherently eco-friendly characteristics, consumer acceptance is relatively low, making RETs acceptance a subject of interest for most recent research. This systematic study aims to integrate and synthesize earlier research on the acceptance of RETs, assessing state-of-the-art and painting a complete picture of the consumer's adoption intention.
Design/methodology/approach
A systematic literature review and bibliometric analysis on the topic of RETs acceptance have been conducted to understand the spectrum of theoretical and methodological methods used in the past, as well as how the users perceive and react to the adoption of it.
Findings
The study of selected 70 research articles showed the role of technology, consumer acceptance and decision-making process as factors influencing the acceptance of RET. The findings suggest that it is crucial to comprehend these factors since users' opinions significantly affect the acceptance and use of renewable technologies.
Practical implications
This paper reviews the research on adopting RETs and identifies factors influencing it. The study further endorses that technology like digitalization can promote the acceptability of renewable energy sources and, inadvertently, assist managers and policymakers in managing business models and making better decisions for sustainable investments.
Originality/value
Research on accepting RETs by integrating the social and technological components is still in its infancy. This study is a novel attempt to identify broad patterns of RETs that can improve communication between decision-makers, technologists and users and aid in the switch to a sustainable energy transition.
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Vinay Surendra Yadav and Rakesh Raut
Substantial pressure from civil society and investors has forced governments around the world to take climate neutrality initiatives. Several countries have pledged their…
Abstract
Purpose
Substantial pressure from civil society and investors has forced governments around the world to take climate neutrality initiatives. Several countries have pledged their nationally determined contributions towards net-zero. However, there exist various obstacles to achieving the same and the agriculture sector is one of them. Thus, this study identifies and models the critical barriers to achieving climate neutrality in the agriculture food supply chain (AFSC).
Design/methodology/approach
Sixteen barriers are identified through a literature survey and are validated by the questionnaire survey. Furthermore, the interactions amongst the barriers are estimated through the application of the “weighted influence non-linear gauge system (WINGS)” method which considers the both intensity of influence and the strength of the barrier. To mitigate these barriers, a framework based on green, resilient and inclusive development (GRID) is proposed.
Findings
The obtained results reveal that lack of collaboration amongst AFSC stakeholders, lack of information and education awareness, and lack of technical expertise obtained a higher rank (amongst the top five) in three indicators of the WINGS method and thus are the most significant barriers.
Originality/value
This paper is the first attempt in modelling the climate neutrality barriers for the Indian AFSC. Additionally, the mitigating strategies are prepared using the GRID framework.
Details
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Amit Rakesh Sethi, Satyabhusan Dash, Abhishek Mishra and Dianne Cyr
Online customer communities have become a strategic tool for business-to-business (B2B) firms to drive collaboration among customers around the company’s products and services…
Abstract
Purpose
Online customer communities have become a strategic tool for business-to-business (B2B) firms to drive collaboration among customers around the company’s products and services. This paper aims to argue that the three social capital dimensions, that is, structural, relational and cognitive, themselves driven by brand community trust, can affect brand loyalty for the organization.
Design/methodology/approach
The authors use a survey to collect data and structural equation modeling to test the conceptual framework by collecting data from 214 participants across three online B2B communities operated by three technology firms in India.
Findings
Brand community trust is found to have a strong association with social network ties, identification and norm of reciprocity and shared vision. These three have concomitant effects on the quality of customer-to-customer (C2C) interactions. Such communication generates functional, emotional and social benefits, which, in turn, curate brand loyalty.
Practical implications
The authors’ findings guide community managers in leveraging such conversations in shaping customer loyalty for the corporate brand.
Originality/value
This work provides an integrated framework to explain the important role of C2C interactions in B2B online brand communities.
Details
Keywords
Ravineet Kaur, Rakesh Kumar Sharma and Apurva Bakshi
Advertising clutter has fueled the rise of nontraditional advertising methods. The current study, conducted in India, adopted the consumer socialization framework to assess…
Abstract
Purpose
Advertising clutter has fueled the rise of nontraditional advertising methods. The current study, conducted in India, adopted the consumer socialization framework to assess product placement attitudes and behaviors.
Design/methodology/approach
A questionnaire-based survey was conducted to gauge consumers' responses to product placements. Structural equation modeling (SEM) was applied to analyze the relationship between different variables.
Findings
The results revealed that young Indian adults are positive about product placements as they believe that incorporating brands into the content adds realism. The authors found that socialization agents significantly impact viewers' attitudes toward product placements which in turn influence their purchase intentions. The authors also found that product acceptability impacts consumers' purchase intentions.
Practical implications
This paper provides important insights into consumers' perceptions of product placements. Based on the findings, marketers can formulate effective product placement strategies.
Originality/value
Most of the studies existing in this area have been conducted in the developed markets except a few which have been conducted in the emerging markets. Hence, the present study is an attempt to fill this research gap. This study is among the first to establish a relationship between product acceptability and consumers' purchase intentions.