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The purpose of this paper is to optimize the linear densities of polyester yarn and filament for inner layer and elastane for middle layer with cotton yarn outer layer in plain knitted plated structure for hot and dry environment clothing.

Three levels of polyester yarn linear densities (11.1, 8.4 and 5.6 Tex), filament linear densities (0.8, 1.55 and 2.3 Decitex) and elastane (0, 4 and 8 percent) with 14.75 Tex cotton yarn have been used to knit 15 single jersey plated fabrics based on Box and Benhens experimental design with same loop length. Three cotton–elastane core-spun fabrics were also produced. All the fabrics were analyzed for moisture and ergonomic comfort properties and wet fabric coefficient of friction.

The increase in elastane content and yarn linear density decreases water vapor and air permeability; the increase in filament linear density decreases wicking rate and water absorbency. The optimum solution is 5.55 Tex polyester yarn of 0.8 Decitex filament as inner layer and 14.75 Tex cotton yarn as outer layer which gives good heat and moisture transfer without stickiness.

The implication of this paper is to study thinner polyester, polypropylene and polyethylene fabrics with more micro pores as skin contact layer for quicker heat and moisture transfer.

Outward wickability of sweat from the skin is the prime requirement of all skin contact layer fabrics.

It shifts the social attitude of most comfortable fabric to polyester–cotton plated for hot and dry climate.

This paper employs a more practical method for the selection of fabric.

The purpose of this paper is to present a laboratory-based test method to evaluate colourfastness of silk fabrics when perfumes are applied on it.

Three different simple methods like simple spray method, rubbing and perspirometer were used. In simple spray method, standard quantity was sprayed from constant distance. In rubbing fastness tester, perfume sprayed fabric was subjected to rubbing. Similarly, perfume sprayed fabric was kept in perspirometer similar to perspiration fastness testing method. As a new method, perfume applied fabric was again treated with perspiration solution and colour change and staining were observed.

On comparing the different methods, it is suggested that method using fabric applied with both perfume and perspiration solution kept in perspirometer will simulate actual wearing condition and will give the actual effect of Perfume on fabric colour.

So far, no standard method is available. Hence, this test method will enable fabric manufacturers, perfume manufacturers and customers to be aware of effect of perfumes on fabric colour and aesthetics.

The concept of the balanced company refers to a company that is in good relations with its internal and external constituencies. Establishing such a balanced company largely depends on the corporate governance of the firm. The paper, therefore, aims to develop new insights into the appropriate design of corporate governance that fits with the notion of the balanced company.

The paper is conceptual and integrates various perspectives from stakeholder as well as norm theories to substantiate the appropriate governance system of a balanced company.

The proposed system of corporate governance rules that the interests of multiple stakeholders have to be considered and adequately balanced when corporate decisions are made. In this system, the interest of the enterprise provides the ultimate criterion to evaluate corporate decisions rather than the interest of one single group of constituencies. Corporate decisions have accordingly to serve the interest of the enterprise and to ensure its sustainable creation of value. This requires a principle based balancing of competing interests when the stakes of diverse constituencies collide.

The paper explicates the notion of the interest of the enterprise, explores the corresponding responsibilities of the board, and explains how competing interests of various constituencies have to be balanced.

Product market competition may have various impacts on audit fees. On the one hand, according to the agency theory, product market competition can mitigate agency problems between management and shareholders. For clients with higher product market competition, auditors will lower the level of engagement risk assessment and reduce the required level of audit evidence, and hence audit fees will be lower. On the other hand, according to the audit risk model, product market competition will increase client business risk and audit engagement risk. Moreover, for clients with competition advantage, client business risk and audit engagement risk will be lower, and hence a lower audit fee. The paper aims to discuss this issue.

In this paper, the authors collect financial accounting data and audit fee data from CSMAR database. Our sample selection starts with all available observations on the Chinese listed companies during 2006–2011. Since there is a big difference in accounting practices between financial companies and other industries, the authors delete observations on financial companies. The authors further remove observations with missing data, yielding 6,709 observations for the final analysis. To define the industry, the authors use the first two digits of standard industry classification code set by China Securities Regulatory Commission. In order to reduce the effect of extreme observations, the authors also truncate the data at 1 and 99 percent. The authors use the Herfindahl–Hirschman index (HHI) and the natural logarithm of the number of listed companies within the industry to measure product market competition intensity. HHI is calculated as the sum of the squared percentage of revenues of the client firm among the total revenues of all public companies, i.e. HHI = ∑ i = 1 N ( s i / S )2. N is the number of listed companies in the industry, S_i is the revenues for an individual firm and S is the total revenues of all public companies within the same industry. A higher HHI score indicates fewer companies dominate the industry and hence lower intensity of competition in the product market. The second measure of industry competition intensity is LNN, the natural logarithm of the total number of public companies in the same industry of a client firm. A larger value of LNN indicates a larger number of competitors in the industry, and a higher level of competition intensity. Following the literature (Kale and Loon, 2011), the authors use Lerner index (or price-cost margin (PCM)) to measure the listed company’s competitive advantage. It is actually a measure of a firm’s power to influence product prices in the industry. The authors adopt the Peress (2010) method to estimate Lerner index as net operating income, divided by sales, i.e. PCM=(Sales–COGS–Selling expenses–Administrative expenses)/Sales. A higher value of PCM indicates more product pricing power and a higher competitive advantage of a company. The authors also use Lerner index ranking (R_PCM) to measure the competitive advantage of a company in the industry. The authors sort PCM values in ascending order in each industry and divide into ten groups. Then, the authors assign a value from one to ten to each listed company within each group in each industry. A higher R_PCM value represents higher market power and higher competitive advantage of a company. Based on Simunic (1980) framework, the authors develop the following model to test the relationship between product market competition, competition advantage and audit fees: LNAF_it=β₀+β₁ PMC_it+β₂ SIZE_it+β₃ INV_it+β₄ REC_it+β₅ GROWTH_it+β₆ PRELOSS_it+β₇ LEV_it+β₈ QUICK_it+β₉ OPIN_it+β₁₀ IBIG4_it+β₁₁ DBIG10_it+β₁₂ SWITCH_it+β₁₃ LOCATE_it+β₁₄ STATE_it+∑β YearDummies+ε_it.

Using a sample of 6,709 firm-year observations from the Chinese stock market for the period of 2007–2011, the authors find that the product market competition intensity has a negative impact on audit fees, which means that agency cost effect is dominant in audit pricing at industry level. In addition, a company’s competitive advantage in the industry has a significant and negative impact on audit fees, which means that business risk effect also plays a critical role in audit pricing of individual engagement. The findings indicate that, in determining audit fees, auditors in the emerging market of China consider both the competition intensity of their clients’ product market at the industry level and the competitive advantage of the specific clients within the industry.

The findings indicate that, in determining audit fees, auditors in the emerging market of China consider both the competition intensity of their clients’ product market at the industry level and the competitive advantage of the specific clients within the industry.

This study examines the director labor market to better understand which director attributes are important for board service.

Director level data, which includes proxies for both human and social capital, is analyzed to determine which characteristics increase the likelihood of gaining additional board appointments.

We find that general skills and director connections are valued in the marketplace. Among specific director characteristics, financial expertise, holding an MBA degree, and S&P 500 experience are positively associated with gaining new board appointments. Moreover, regardless of the director’s level of expertise, highly connected individuals are more likely to obtain new appointments. Finally, from a range of characteristics, only director connections mitigate the negative consequences of serving on the boards of firms that restate their financials.

While most research has analyzed the effectiveness of boards of directors as a whole, this study examines the value of individual director characteristics within the context of the labor market.

This study aims to investigate the influence of social capital on firms’ business strategies, focusing on Miles and Snow (1978) dichotomy between “prospector” and “defender” strategies.

The authors perform multivariate regression analyses using a sample of US firms spanning the period from 1995 to 2021. The authors use a two-stage least squares model to alleviate endogeneity concerns and perform several cross-sectional tests and path analyses.

The authors find a significant and positive association between social capital and defender-type business strategies. Results from cross-sectional analyses reveal that this relationship is more pronounced in highly competitive product markets and among firms led by highly qualified CEOs. In addition, the authors find that CEO compensation mediates the effect of social capital on business strategy. Overall, the results suggest that low social capital regions foster prospector strategies due to managers’ self-maximizing incentives. Finally, the authors find that business strategy acts as a mediating factor, connecting social capital to firms’ financial reporting outcomes.

In light of recent public concerns over declining social capital in major economies and the growing globalization and multiculturism in societies, the findings are of interest to policymakers and the wider society by highlighting the far-reaching implications of social capital on businesses and the capital market.

To the best of the authors’ knowledge, this study documents the first empirical evidence on the association between a society’s social capital and firms’ business strategies. The study contributes to the research on the determinants of a firm’s business strategy and extends the literature on the relationship between social capital and firm behavior.

Investors aim for returns when investing in stocks, making return volatility a crucial concern. This study compares symmetric and asymmetric GARCH models to forecast volatility in emerging nations like the G4 countries. Accurate volatility forecasting is vital for investors to make well-informed investment decisions, forming the core purpose of this study.

From January 1993 to May 2021, the study spans four periods, focusing on the global economic crisis of 2008, the Russian crisis of 2015 and the COVID-19 pandemic. Standard generalized autoregressive conditional heteroscedasticity (GARCH), exponential GARCH (E-GARCH) and Glosten-Jagannathan-Runkle GARCH models were employed to analyse the data. Robustness was assessed using the Akaike information criterion, Schwarz information criterion and maximum log-likelihood criteria.

The study's findings show that the E-GARCH model is the best model for forecasting volatility in emerging nations. This is because the E-GARCH model is able to capture the asymmetric effects of positive and negative shocks on volatility.

This unique study compares symmetric and asymmetric GARCH models for forecasting volatility in emerging nations, a novel approach not explored in prior research. The insights gained can aid investors in constructing more effective risk-adjusted international portfolios, offering a better understanding of stock market volatility to inform strategic investment decisions.

This paper aims to analyze the cost, revenue and profit efficiency performance of Indian scheduled commercial banks. The study also determines differences if any related to efficiency among banks on the basis of ownership pattern.

Cost, revenue and profit efficiency of banks is calculated by using the non-parametric approach, namely, data envelopment analysis. Further, the differences in the efficiency scores are examined by applying analysis of variance.

Indian scheduled commercial banks have not been able to maintain their input-output synchronization in terms of cost, revenue and profits in the year 2012-2013. Foreign sector banks have higher cost and profit efficiency as compared to their counterparts in private and public sector, whereas public sector banks are found to have been more revenue efficient.

With specific reference to India, less empirical work has been carried out with respect to cost, revenue and profit efficiency. None of the studies have evaluated the sector-wise performance of banks in terms of all three efficiency parameters.

The fact that stocks going ex‐dividend decline in price by less than the dividend amount is theoretically attributed to the differential taxation of dividend and capital gains or the differential taxation of investor groups. NYSE, Amex and Toronto Stock Exchange listed stocks, and stocks interlisted on these three exchanges, are examined to infer the tax jurisdiction of the marginal investor. The stock price changes relative to the dividends are consistent with a tax clientele effect. Further, the stock price changes are plausible given the tax rates. Ex‐dividend day behavior is different for non‐interlisted stocks on all three exchanges, suggesting each exchange has a different tax clientele. Canadian firms interlisted on US exchanges exhibit ex‐dividend day behavior consistent with the appropriate US exchange’s non‐interlisted stocks, suggesting that the marginal investors in these stocks are American.

Micro-finance self-help groups empower caregivers to indulge in productive activities based on the local availability of resources to reduce their financial burden. The purpose of this paper is to assess the need for and feasibility of initiating micro-finance groups for the caregivers of persons with mental disability in a rural socio-economically backward community of Karnataka, India.

The design of the study was a cross-sectional survey, with mixed methodology design out of the eight localities where the Mental Health Public Health Centres (PHC) were running successfully in Konandur area, Thirthahalli Taluk, Karnataka, one PHC was selected using simple Random Sampling Design and a 5 kms radius from Konandur town was selected as the area of the survey (190 households). During door-to-door survey, if the family indicated that a particular member is mentally unwell, the GHQ-5 and Symptoms and Others checklist were administered on him/her and the women caregiver was interviewed using qualitative needs assessment schedule and Perceived Social Support Scale.

Ten persons/households with mental illness (5.26 per cent) were identified in the community. Themes of financial needs, capacity of the caregiver, community resources, need for the microfinance self-help groups, informational needs, social support, burn out, and stigma elicited in the interview were depicted in the form of a conceptual framework to understand the inter-connectedness between the various themes.

This study is the first initiative in the field of micro-finance self-help groups for the persons with mental illness and families. The design of the study was a cross-sectional survey, which is found globally to be the most suited in conducting prevalence studies, as it provides accurate results for future studies as well as it is the first step to obtain accurate baseline values to later plan a prospective follow up study. The study used mixed methodology design. Though the sample size was small, the information collected from the participants in qualitative and quantitative method was triangulated and conceptual frameworks were developed. As this study is one of the first of its kind in the country, the results of this study from the stated sample can be considered as an important pilot for future longitudinal and cross-sectional studies to be planned in the community.

There is hardly any scientific literature which talks about the need for Micro-finance self-help groups for Persons with Disability, especially with person with mental disability. In order to initiate any Micro-finance SHG activities, it is essential to first undertake the need for and feasibility of initiating such micro-finance group activities in any given area. This study will be an important milestone in initiating any self-help group activity for caregivers of persons with mental disability, as it would help us understand the financial needs of the community, based on which a draft proposal to initiate micro-finance self-help group activities can be drawn up.