Online ISSN : 2456-6675
Print ISSN : 0972-8058 
 

Volume 17, Issue 2 (Click here to show/hide details)

Firm Characteristics and Speed of Adjustment :A Dynamic Panel Data Approach

Dr. Karamjeet Singh, Ms. Rajni

Abstract:
Complimentary Article - Full Text PDF

The study attempts to inspect the influence of characteristics specific to firm on rate of adjustment speed towards optimal debt ratio. The study also tries to compare the rate of adjustment speed of under-levered and over-levered firms to analyze the asymmetries due todissimilar debt position. The debt position isone of themajor causes that could be thereasonfor asymmetry in the rate of adjustment speed. The study considers data set of 58firms listed on BSE 100 index over nine years period (2009- 2018)for analysis. The richfirm-level data overaperiod of nine years offers an idealground for rigorous empirical analysis. The study divides the sample into two groups under-levered and over-levered, and compared the rate of adjustment speed of these two types offirms. Arellano-Baver (AB)/Blundell-Bond (BB) dynamic panel data model (DPD) is used to measure the rate of adjustment speed toan optimal debt ratio. As per the.findings, theadjustment speed of overall sample, under-levered and over­ leveredfirms are33%,40%,and 35% respectively. Thisimplies that under leveredfirms adjust totheir optimal debt ratio before over levered firms. Thus, the study partially validates the dynamic trade-off theory (DIT) of optimal capital structure in the emerging market firms, particularly Indian firms. One of the opportunities to perform better is the optimum utilization of capital. Balancing of capital structure is one of the biggest challenges. The researchers are therefore; keen toknow why there are asymmetries in the rate of adjustment speed offirms so thatfirms can make early decisions to reduce the differences inactual debt ratio and optimal debt ratio tooutperform. The study provides guidance to corporate managers toreform capital structure policy considering the effects ofvarious.firm-specific characteristics inIndia and othersimilar emerging market economies.

Keywords: Optimal capital structure, Rate of adjustment speed towards optimum debt ratio, Dynamic partial-ad justment model, Emerging economy.

PP. 1-13

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/1-13



A Study on Volatility Spillover of Stock Return and Gross Domestic Product with Reference to (BRCS) Countries

Dr.N.S. Pandey, Ms.S.Sabamaithily, Dr.Meenu Pande

Abstract:
Complimentary Article - Full Text PDF

This research paper examines the volatility spillover between Gross Domestic Product (GDP) on Stock Return (SR) with reference to (BRCS). The study has been considered for the period from 2012 to 2016. The study concluded and found an existence of co-integration between GDPand SR.Further thestudy has identified that there isa volatility of SR in BRCS for the study during theperiod from 2012 to 2016.

Keywords: UnitRoot Test,Gross Domestic Product, Stock Return, Volatility Spillover.

PP. 14-24

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/14-24



Influence of Product's Price on Consumers' willingness to Purchase Chinese Mobile Phones: Controlling the Effect of Product Quality & Design

Mr. Om Jee Gupta, Dr. Anurag Singh

Abstract:
Complimentary Article - Full Text PDF

India isa large consumer market of Chinese nwbileplwneslike OnePlus, Xiaomi, Huawei, VivoNex, Honor and Oppo.In order to study the market of fast growing Oiinese mobile phones, this research has attempted to assess the willingness of Indian consumers to purchase. The researchers have used hierarchical regression technique to assess the strength and direction of relationship between Product Price with consumer 1 s willingness topurchase inpresence ofproduct quality and product design. Thesuroey method was used to collect theprimary data by usingjudgemental sampling technique. Total 250 respondents were approached, whereas only 150 questionnaires werefound suitablefor the study. Theresult revealed that, inpresence ofproduct quality and product design, product price was statisticall y significant in explaining the variation of dependent variable i.e. consumer willingness topurchase. Finally thestudy has drawn managerial implications and has suggested thefuture research directions.

Keywords: Product Price; Consumer willingness topurchase; Product Quality;Product Design; ChineseMobile.

PP. 25-36

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/25-36



Do Banking Sector Stocks Herd ? : An Anecdote From India

Ms. Bharti , Dr. Ashish Kumar

Abstract:
Complimentary Article - Full Text PDF

The recent busts and booms inthefinancial markets reinforce the thought that investors are normal and not always rational in making investment choices. Their behaviour plays a major role inguiding the stock picking pattern. Our study investigates herd behaviour in the banking sector stocks trading in the Indian equity market. Employing the methodology of cross sectional absolute deviation and using quantile regression estimate on daily datafor theperiod April 02,2012 to March31, 2017,wefind significant evidence ofherding inthe overall market. The study alsoconcludes that herd behaviour isasymmetric innatureand morepronounced during rising market movementsfor higher quantiles. Our study does not c.onclude any significant herding during extreme market movements. Thefindings of thepaper havea noteworthy implicationsfor theportfolio managers, policy makers and regulators.

Keywords: Herd Behaviour, Cross Sectional Absolute Deviation, Quantile Regression Estimate, Portfolio Management

PP. 37-51

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/37-51



Rational of consolidation of Regional Rural Banks in India

Mr. Shailendra Singh , Dr. Megha Aggarwal

Abstract:
Complimentary Article - Full Text PDF

The Regional Rural Banks (RRBs) came in toexistence as an institutional sourcefor making.financial assistance available tothe rural areas as the commercial banks could not seroe the desired purpose inview of thefinancial viability as well the inadequate infrastructure facilities that was hindrance for expansion of commercial banks in the remote rural areas. The RRBs were established in 1975 startingfrom October 2, 1975. The main objective ofpromoting RRBs was tofacilitate banking reach to the rural segments and to provide them adequate credit facilities and thereby improve their living conditions. There was fast expansion of RRBs and within thespan of 15years,by1990-91, thenumber of RRBs inIndia reached to 196.Another important aspect of establishing the RRBs was tooperate themat low cost inview of their local presence and regional in character inview of their operations being managed by locally employed people. However, the concept low cost operation could not sustain as there was demand by the RRB staff for "equalpay for equal work" and with the interoention of the legalframework, the salaries of RRB staff were brought at par with the nationalized banks. This made the operational cost of RRBs much higher. The balance sheet of many RRBs started showing losses and their viability posed a serious question. This received the attention of policy makers and astrong need wasfelt toconsolidate thefunction ingof RRBs byway of mergers tobring more efficiency in terms of financial performance and sustainability in the long run. Accordingly the merger of RRBs got momentum in the country resulting reducing thenumber of RRBsfrom 196 tojust 56. Thispaper assesses theimpactofmerger onoperational efficiency of the RRBs.

Keywords: Financial viability, merger, operational efficiency,viability, investments, profits.

PP. 52-62

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/52-62



A Theoretical Evaluation of the Models for Stock Market Volatility.

Mr. Sartaj Hussain , Prof.K.V. Bhanu Murthy , Dr. Amit Kumar Singh

Abstract:
Complimentary Article - Full Text PDF

Volatilityforecasting has been widely debated in empirical finance, nevertheless, studies examining issues in volatility and their resolution through various models has received a scant attention. Therefore, the present study which is purely a review work aims to elucidate volatility stylised facts along with discussion on theoretical foundation and procedure of volatility forecasting approaches. Toseroe thispurpose, aboutsixty researchpapers were reviewed toextract meaningful insights onstock market volatility and its measurement methods. As a whole, it is obseroed that unronditional models that are intuitive and simple inestimation ignoremost ofwell-known 'stylised facts' about volatility. GARCHfamily models though cater tomost of volatility stylised facts, yet at the practioners' level, EWMA approach appears to be more reliable and worthwhile. Further, studies show that it is difficult toevaluate GARCH models as empirical results of such a model are dependent on the sampling frequency. Hence, choice among such models remains to bean empirical issuesensitive to lengthandfrequency of data. Finally, GARCHfamil y models expected to take care of main stylised facts like, volatility clustering, asymmetric effect, etc.,yet models that have a capacity to handle properties like, non-normal behaviour of stock market volatility are beyond the puroiew of this study, thusrepresent afuture gapfor a literature review based research.

Keywords: Stock market, Volatility,Stylisedfacts, GARCH.

PP. 63-77

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i2/2019/63-77



Volume 17, Issue 1 (Click here to show/hide details)

Improving Dysfunctional Employee Turnover

Ms. Preeti Dwivedi, Dr. Vijit Chaturvedi, Dr. J.K. Vashist

Abstract:
Complimentary Article - Full Text PDF

This research paper focuses on finding and assessing the criteria responsible for making an efficient employee to leave the organization. This research also focuses on finding the preference of the employees for criteria and implementation of appropriate retention model. The research is based on the survey conducted among the selected employees of 10 logistics organizations. 30 highest performing employees i.e. 3 from each organization were selected on the basis of performance appraisal ratings received by them. Analytic Hierarchy Process (AHP) approach is used to identify the importance attached to each criterion and alternatives given by employees. Importance attached to three alternatives was evaluated before and after the implementation of the employee retention model. The study found that career development was the most preferred criterion followed by work-life balance, senior-subordinate relationship, motivation, compensation, organization commitment, Training & Development and working environment, influencing the decision of employee whether to perform efficiently, stay absent or quit the organization for some better opportunities. Velocity Model of Efficiency (VME) was implemented and was found effective in increasing the level of satisfaction of employees and motivating them to stay longer with the same organization.

Keywords: Absenteeism, Dysfunctional employee turnover, Employee Efficiency, Employee Retention, Employee exit, Employee retention models, Employee turnover.

PP. 1-15

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/1-15



Prediction of Bankruptcy in selected Steel Sector Companies in India using Financial Ratios

Dr. Saurabh Agarwal, Dr. Megha Agarwal

Abstract:
Complimentary Article - Full Text PDF

An attempt has been made to use ratio analysis and logistic regression for Predicting insolvency and bankruptcy. The paper extensively reviews existing literature to find out how financial distress can be predicted using ratios. Alternate methodologies and their uses have also been outlined. Finally, Logistic regression model has been developed based on select financial ratios. The model has been empirically tested on Indian Steel sector.

Keywords: Distress diagnosis, Discriminant, Corporate bankruptcy risk, financial ratio analysis.

PP. 16-27

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/16-27



Amplification of Capturing of Euro Zone Crises on PIIGS Nations Through Dummy Variables Approach

Dr. Anjala Kalsie, Ms. Jaya Pandey

Abstract:
Complimentary Article - Full Text PDF

After subprime crisis the Euro-zone crisis emerged and has taken many of European countries in its effect quickly. To get the stimulus of the euro crisis on PIIGS economies it is essential to study the patterns of various selected variables. The objective of this paper is to identify various variables that were severally and significantly touched during the crisis for each of the PIIGS nations. In order to know the trend of the various variables the total time period is divided into three periods namely pre crises, during crisis and post crisis period. The period of crisis emergence is taken as 2008-09. The data set was normalized before applying dummy variables exercise for capturing structural break. Spain is the most affected country among PIIGS nations both during the crisis and after the crisis. The least affected country in the post crisis period is either Ireland or Italy.

Keywords: Euro-zone, PIIGS, Dummy Variables, Structural Break.

PP. 28-45

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/28-45



Human Resource Outsourcing: A Competitive Strategy

Dr. Himani Sharma, Ms. Seema

Abstract:
Complimentary Article - Full Text PDF

HR outsourcing has become a vital part for any modern organization. No doubt, HR outsourcing is beneficial for an organization but there are some challenges when a company goes for outsourcing its HR functions. The objective of present paper is to study HR managers' perception about benefits and challenges when the company decides to opt HR outsourcing and to find out important benefits and challenges of outsourcing the HR functions. Data has been collected from HR managers who are working in corporate sector. The same is analyzed with the help of mean rank, standard deviation and one way Anova. Findings of the paper reveal that outsourcing the HR functions is advantageous for the organizations.

Keywords: Human Resource, Outsourcing, Human Resource Management, Organizational benefits, Organizational challenges.

PP. 46-56

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/46-56



Service Quality Dimensions, Satisfaction and Loyalty in e-retailing : An Empirical Study

Dr. Pooja Goel

Abstract:
Complimentary Article - Full Text PDF

Digital commerce is altering the way of doing business, pace of operations and providing advance platforms to interact with customers. Because of the online platform, it has become much easier for the customers to compare the products than traditional offline retail settings not only on the basis of product features but also on the basis of e-service quality. It is quite evident that companies have realized the importance and quality of online portals for running their businesses, but they are also facing problems in understanding the customers' perceptions of the service quality. Therefore, the present study scales the perceptions of the consumers regarding e-service quality dimensions and also examines its impact on loyalty. Additionally, the effect of gender as a moderator, in particular, is also studied on the relationships among the variables. For the study, data was collected from 265 respondents and the results revealed that information quality and privacy are the important dimensions of e-service quality affecting loyalty. The study further established that gender does not moderate the relationships among variables. The study has also discussed the practical implications of the proposed model.

Keywords: Satisfaction, Loyalty, Service Quality, Gender, India.

PP. 57-65

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/57-65



The Role of Financial Autonomy and Personality in Individual Investment Decisions

Dr. Som Nath Paul, Dr. Rakesh Kumar Yadav

Abstract:
Complimentary Article - Full Text PDF

This research paper is an explicit effort to understand the role of financial autonomy and personality on investment decision of the individuals of middle class society. In developing countries, middle class society has emerged as most investing community. Investment is not only financial reserve but it is the purposeful act to gain something in future. It is affected by many variables or factors. Financial autonomy is a major factor which influences our living standard, thought process and objectives. It affects our decision making procedure. This financial autonomy further influenced by our personality to behave differently in a similar situation by two different personalities. A person will take investment decision or not, depends on his/her personality. In this paper, the mediation effect of personality on financial autonomy was also checked to establish the correlation. This research paper is based on two research designs; initially on exploratory research by which the factors were found and then after with the help of descriptive research findings were conducted. The people from the middle class society were taken as test unit. Collected data was verified, tested, investigated and analyzed by different statistical techniques like Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA) and Structural Equation Modelling (SEM).

Keywords: Investment decision, Confirmative factor analysis, Structural Equation Modelling, Mediation Effect.

PP. 66-77

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/66-77



Psychological Capital in Indian Industries: A Demographic Assessment

Prof. (Dr.) Yogesh Upadhyay, Mr. Dharmendra Kumar

Abstract:
Complimentary Article - Full Text PDF

Positive organisational behaviour remained one of the most sought areas of research for organisational behaviour researchers during the last two decades. Luthans along with his colleagues highlighted the significance of psychological capital as a measure of positive organisational behaviour (POB) in industries. Although the field witnessed valuable research effort across many countries and cultures, there are few instances of investigation of psychological capital in the Indian organizations. The present study involved the assessment of psychological capital of employees serving in Indian industries. The findings and conclusion of the study are given towards the end.

Keywords: Psychological Capital (PsyCap); Hope; efficacy; resilience; optimism; validity, reliability.

PP. 78-85

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v17/i1/2019/78-85

Volume 16, Issue 2 (Click here to show/hide details)

Financial Liberalization and the Banking Crisis: A Study of ASEAN Nations

Dr. Anjala Kalsie, Jappanjyot Kaur Kalra

Abstract:
Complimentary Article - Full Text PDF

Capital Account Liberalization has always been a major policy concern among the economist and researchers in India since the occurrence of 1991 Balance of Payment Crises. In the last four decades a lot of policy discussion has been done over the issues by the policy makers and the scholars, but no common consensus has been formed, also lately IMF has changed its views on the openness of the economy in its report by. Therefore, in this paper we make an attempt to analyse the empirical relationship between the Financial Liberalization, Economic Freedom and the Banking Crises. The data set adopted for the purpose of study is for the years 1980-2005 and covers Emerging Asian Markets: ASEAN 5 [Indonesia, Korea, Malaysia, Philippines and Thailand (those impacted by 1997-98 crises)]. The impact over the various dimensions of the financial reforms has been tested using the Panel Logit model. The results of the paper support the cautious approach towards the liberalization of the capital account if the nation is having weak institutional environment.

Keywords: Financial Liberalization, Banking Crises, Economic Freedom, Institutional Environment, Logit Model.

PP. 1-13

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/1-13



Stockbrokers' Services Availed by Equity Investors': A Study of Punjab, India

Dr. Jaspreet Kaur

Abstract:
Complimentary Article - Full Text PDF

Retail equity investors seek guidance from stockbrokers to manage their investment and to meet their own and their families' goals. These investors rely on stockbrokers for investment advice and expect that advice to be given in their best interest. The study has been to analyse the various services availed by retail equity investors from the stockbrokers while dealing in securities market and to check whether there is any significant difference in the opinion equity investors across their demographics regarding the stockbrokers' services availed by them. Three hundred and seventy three (373) questionnaires have been filled up by the respondents. Forty five (45) questionnaires have been found to be incomplete and have been excluded from the analysis. Remaining three hundred and twenty eight questionnaires have been used for the analysis. In order to achieve the objective of the study descriptives, T-test and ANOVA have been used.

Keywords: Stockbrokers, investors, stockbrokers’ services, securities market.

PP. 14-31

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/14-31



Fama French Three-factor Model: A Comparative Study

Smita Datta, Anindita Chakraborty

Abstract:
Complimentary Article - Full Text PDF

The sector which has the highest weight (31.58%) in S&P CNX Nifty (the benchmark index of the Indian equity market) is the financial services sector. Therefore, it is very crucial to understand the risk-return trade-off of the stocks belonging to this sector for the purpose of making better investment decision. Hence, this study aims to examine whether the current standard model for asset pricing, the Fama-French three factor model, succeeds in capturing the excess returns of the size and value sorted portfolios of Indian financial services sector stocks. This study aims to fulfil this objective by implementing the Fama-French three factor model to stocks constituting the CNX-finance index and firms comprising the CNX-auto index and comparing the goodness of fit and the pricing error of the model for the financial services sector to those obtained for the auto sector which acts as the benchmark. The empirical findings obtained provide evidence that the Fama-French three factor model can be applied to the Indian financial services sector.

Keywords: Fama-French three factor model, risk and return, performance, auto sector, financial services sector.

PP. 32-41

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/32-41



The Nature of Organizational Culture in Indian Knowledge Organizations

Dr. Mohnish Kumar

Abstract:
Complimentary Article - Full Text PDF

The main purpose of this paper is to figure out the nature of the Organizational Culture in the six selected Knowledge Organizations and how they vary across the public and private sector organizations as well as on the sectoral lines viz., Power Sector Vs. IT sector Vs. other infrastructure sector organizations and in the perception of different genders from a random sample of 204 Knowledge Workers. The data about the Organizational Culture and background variables including demographic variables have been collected using a questionnaire-survey technique through the questionnaire given by Pareek (1997). The Principal Component Analysis was used to figure out the nature of organizational culture and the multiple regression analysis with dummy variable was used to differentiate among sectors and genders. The Principal Component Analysis throws up only one Principal Component out of eight variables, which suggests the unitary nature of the Organizational Culture. The unitary nature of Organizational Culture prevalent in the selected Knowledge Organization supports the Integration Perspective of the Organizational culture. The integration perspective helps in the Knowledge Management and can safely argued that it is nothing but “Knowledge-Centered Culture” in the selected Knowledge Organizations. There is no significant difference in the positive ethos or Organizational culture of the Public Sector and Private Sector Knowledge Organizations, and of the IT Sector and Infrastructure Sector Knowledge Organizations including Power Sector Organizations. However, the female Knowledge Workers perceive more Positive ethos than the male Knowledge Workers in their respective organizations.

Keywords: Organizational Culture, OCTAPACE, Positive Ethos, Knowledge-Centered Culture, Knowledge Organization.

PP. 42-56

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/42-56



Corporate Web Reporting: An Empirical Investigation of Indian Companies Websites Content & Design Features

Harmandeep Singh, Dr. Arwinder Singh

Abstract:
Complimentary Article - Full Text PDF

Business firms use internet to satisfy the growing needs of their stakeholders. They are disseminating various companies’ information on the internet. Therefore, Internet reporting has various benefits to the source company such as wider reach, mass communication, speed, and low cost. The focus of the present study is to examine the extent of corporate web reporting practices across various industries in India. The study is based on 183 BSE listed companies from the database of BT-1000 for the year 2015-16, and these companies are broadly categorized into sixteen sectors. The results reveal that various content and presentation features, such as online chat facility, E-commerce facility, webcasting, animation, hyperlink to the annual report from the homepage and many more are not fully disclosed across industries. It also found that Indian companies have uniformity in the disclosure of companies' mandatory information across the various industry groups. The results of ANOVA indicate that there is the significant difference in the corporate web reporting practices among the Indian companies across different industries groups.

Keywords: : Web Reporting, Website Content, Website Presentation.

PP. 57-77

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/57-77



Advocates/ Legal Experts' Perspective on Effectiveness, Opportunities and Threats of Consumer Grievances Redressal Agencies

Dr. Ishwar Mittal, Dr. Ravi Kumar Gupta

Abstract:
Complimentary Article - Full Text PDF

This paper looks into the perception of advocates/ legal experts towards consumer dispute redressal procedure effectiveness under Consumer Protection Act. It also examines the underlying opportuinities and threats affecting the functioning of Consumer forum. Consumer Protection Act has not made the compulsion of engaging advocates in consumer forum. Yet, they are the important functionaries in consumer grievances redressal mechanism. Descriptive research design was adopted for the study. The sampling unit was advocates/ legal experts who plead at Consumer Disputes Redressal Agencies. Convenience cum purposive sampling was adopted for selecting respondents. The sample size was 50 respondents. A questionnaire was prepared for primary data collection. Various statistical tools and techniques viz. average, ratio, standard deviation, percentage, one sample t-test, Chi Square Goodness of Fit Test, Multi Dimensional Scaling (MDS) and Factor analysis using Principal Component Analysis used to analyze the data. Consumer cases were randomly dealt by the existing advocates. It was concluded by advocates' opinion that consumer forums were sufficiently effective in providing justice to consumers. Advocates viewed that consumer forums are easily accessible, provides hassle- free disputes redressal. It was explored that effectiveness of dispute redressal procedure at consumer forums was largely influenced by five factors viz. 'Fair Judgments', 'Consumer Friendliness', 'Ease of Disputes Redressal', 'Relevancy' and 'Forum Reliability'. Traditional & innovative opportunities and dissonance & system insufficiency threats to consumer forums were worked out. Advocates stressed upon online registration of complaints and strong consumer movement as highly ranked innovative opportunity and traditional opportunity respectively. They described inactive consumer organizations and lack of awareness among consumers as highly ranked dissonance and system insufficiency threats respectively.

Keywords: Consumer Disputes Redressal Agencies, Advocates/ Legal Experts, Effectiveness of Consumer Forum, Opportunities, Threats.

PP. 78-98

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i2/2018/78-98

Volume 16, Special Issue 2 (Click here to show/hide details)

An Empirical Study of Spirituality in the Workplace

Dr. Urvashi Ghai, Dr. Divya Mohan

Abstract:
Complimentary Article - Full Text PDF

In the field of Human resource management, the involvement of spirituality is only increasing. For recent day's HR challenges everyone from academicians to practitioners are favoring spirituality to solve problems. One can see the negative impacts of these HR related problems on every industry and the big Indian Insurance industry is also no different. The presented paper is mainly aimed to focus upon specific HR issues of Indian Insurance companies and how workplace spirituality affects them. Among all the HR issues such as work motivation, employee engagement and managerial effectiveness are the major ones where companies need improvement and the spirit of Spirituality at work can do the task for them. This research paper also acknowledges the gaps between conceptual and factual usage of the workplace spirituality concept. By successfully adding one more dimension (karma capital) of Indian spiritual values, this paper supplements literature here. Moreover, this paper is one of the pioneer studies that is based upon necessary condition analysis to explore workplace spirituality. Workplace spirituality is an essential principle of employee engagement, motivation and managerial effectiveness and their relationship is further examined by correlation matrix and regression analysis.

Keywords: Work Motivation, Employee Engagement and Karma Capital of Indian spiritual values.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/1-13



A Comparative Analysis of the Seasonal Trends in India and Other Markets of the BRICS Nations

Ananya Sharma, Dr. Rakesh Shahani

Abstract:
Complimentary Article - Full Text PDF

The present study makes an attempt to investigate the seasonal trends in India and other BRICS nations by using 'calendar effect- month of the year' methodology. The data for the purpose of the study includes log transformed monthly returns of the major stock market indices of the five BRICS nations for the ten year period April 2007 to March 2017. The techniques employed for testing the 'month of the year' effect include Hypothesis Testing using Dummy Approach (without intercept OLS Regression & also with Newey West Regression Robust test) Other techniques used in the study include GARCH (p,q) Methodology for identifying month of the year impact in mean and variance equations & TGARCH (p,q) Methodology for identifying “asymmetry in month of the year returns”. The study results based upon OLS Dummy without Intercept clearly showed that BRAZIL's IBOVESPA index had significant mean returns in the months of April. Also results using OLS Newey West showed that BRAZIL's IBOVESPA index continued to be significantly different for the month of April while Coefficient for S. Africa's Dummy was significant for the month of June. The Dummy coefficient was insignificant for rest of the indices. The GARCH(p,q) equation was fitted which showed that BRAZIL's IBOVESPA index Dummy to be significantly different in the month of May when regressors were included only in the mean equation, while it was May and Nov being significant in mean equation & only Nov as significant in variance equation when regressors were included in both mean and variance equations. Also when regressors were included in both mean and variance equations, significant dummy was also seen in S Africa in the months of June, & March & China in the months of Sept & Feb. The T GARCH term showing asymmetric volatility for good and bad news was significant for S Africa and Brazil indices only.

Keywords: BRICS, Newey - West Robust Regression, GARCH(p,q), T- GARCH(p,q) ADF Stationarity tests.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/14-26



Complimentary Digital Sources Challenging Noida (NCR youth) for Acceptability with Internet Marketing:- A Multi Dichotomy Analysis

Dr. Gurvishal Sinha

Abstract:
Complimentary Article - Full Text PDF

This paper suggests analytical understanding about Noida youth with complimentary digital sources in internet marketing. Research converges to attain a focus point for complimentary medias, which is most assessed and commonized by youth in Noida. Convergences highlight the proven advantages, to corporate through multi dichotomy analysis for assigning digital media strategy for sustainable and profit-maximizing internet marketing.

Keywords: complementary media, multi dichotomy analysis, youth, Internet marketing.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/27-31



Techno-Savvy Millennials : A Booming Consumer Segment of India

Dr. Reetika Jain

Abstract:
Complimentary Article - Full Text PDF

PURPOSE OF RESEARCH:

Consumer market segments are continuously defined and redefined with the changing needs, buying patterns, media exposures, and unparalleled invasion of technology in consumers' lives. Millennial and Generation Z are the new booming consumer segments that are attracting the businesses. Presently, they are one of the most connected consumer segment. Whereas Generation Z are the consumers born after year 2000, millennials are those born between 1980-2000. Firms are therefore, tapping millennials who happen to be more independent as of today as compared to Generation Z. Studies highlight that this segment is characterised by avid researchers, information seekers, rely on peer reviews, more active on social media and blogs. In this digitalisation era, it becomes quintessential to tap this growing unexplored segment especially with digital marketing strengthening its roots in India.

RESEARCH METHODOLOGY:

Present study explores the pertinent secondary data from some crucial consumer market reports to provide an insight into the buying behaviour of millennials in India vis-à-vis global millennials. It is also compared with the behavioural pattern of millennials globally.

RESULTS AND IMPLICATION: The study provides consumer industry an insight into the peculiar behaviour of Indian millennials. It is evident from the studies that this segment of consumers is a booming one given the large population of India. They are also the most digitized consumer segment. Thus, it is a win-win situation for the companies given the size of this segment and the digital boom in India. Study also discusses the strategies for the businesses to harness the full potential of this untapped market.

Keywords: Indian Millennials, technology, consumer market segment, digital marketing.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/32-39



Measuring Effectiveness of Social Networking Sites Using AHP

H K Dangi, Rutika Saini

Abstract:
Complimentary Article - Full Text PDF

Technological advancements and Internet facility is changing the way a marketer communicates and attracts its customers. Interactive media is being used as a part and parcel of company's marketing strategy. The popularity of social media marketing has increased significantly in the past couple of years. Despite, it has been observed that measuring the effectiveness of social media is a not an easy task. Academicians and the marketers are keen to learn how social media can benefit (or harm) the business. Marketers are interested in calculating the ROI of their social media efforts. Social media marketing provides a wide range of qualitative and quantitative benefits to the organizations and it is not easy to measure them as a whole. The problem is that due to vagueness in current measurement tools many important aspects remain unmeasured and still depends on personal assessments of the marketer. This study addresses the concern and develops a model that helps marketers in measuring the return on investment they have made in social media activities. For developing this model we identified various factors attributable to a social networking sites. Analytic hierarchy process is being used to develop the model for ranking various social networking sites with respect to their effectiveness. This model can be used by marketers to rate various social networking sites before using them in their marketing strategy.

Keywords: : Return on Investment, AHP, Social Networking Sites.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/40-46



The Key Role to Improve CSR Performance: A Case Study of New Holland: Punjab

Ms. Saloni Chaudhary, Dr. Raghavendra G. Rao

Abstract:
Complimentary Article - Full Text PDF

Corporate Social Responsibility (CSR) is a new advance strategy of the corporate sector to develop a sustainable business in the market. After the amended companies act, 2013 in India, it's mandatory for all corporate and non-corporate sectors to participate in CSR activities. For the remarkable sustainable growth of companies, adopt new advanced technology to maintain a balance between social, economic and environment. Companies integrate some policies, plan, and programmers' for sustainable growth in the future. The purpose of this paper understands the role of New Holland in CSR activities. After the amendment 2013, company law. Every corporate sector contributes in CSR by spending their some percent of profit. New Holland spends 3% of their annual profit on CSR activities. To ascertain their amount reach to NGOs, Stakeholder for CSR, and descry they are actually working for social, economic, and environmental welfare, this paper focuses on Corporate Social Responsibility done by New Holland agriculture farm industries. New Holland spends 3% of their profit for CSR. People received all facilities for providing to improve their social, environmental, and economic level. People aware of basic benefits provided government through corporate sector. They stand for their basic need.

Keywords: Corporate Social Responsibility, Stake holder, NGOs, Sustainability development.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/47-53



Examination of Association between Mobile Phone Usage and Daytime Sleepiness in Delhi Millennial

Ms. Tanvi Gupta

Abstract:
Complimentary Article - Full Text PDF

Purpose:

Mobile usage is an indispensable activity for the youth nowadays. Its excessive usage can lead to certain unwelcomed consequences. Amongst some of such problems is daytime sleepiness in youth studying in schools and colleges or at workplace due to incessant usage of mobile phones, especially at night. Epworth Sleepiness Scale (ESS) is a renowned scale firstly proposed by Dr. Johns and further modified to study the daytime sleepiness for human race. This study aims at examining the relationship between the mobile usage habits of youth studying at a B-school in Delhi and their ESS scores.

Design/methodology:

It is a descriptive research which has been conducted using an adapted questionnaire used by Nathan, N. and Zeitzer, J. to study the association between mobile phone usage and daytime sleepiness in students in a Californian high school. In the current study, convenience sampling has been used by distributing the questionnaires to students at a management college in Delhi. The sample size taken is 113. A pre-test was conducted on 20 students giving Cronbach's alpha=.798 making the questionnaire reliable. Also, face validity and content validity was tested by academicians. Descriptive analysis including frequency was used for demographical factors and ESS scores. Descriptives were further provided as the mean ± SD for age and for number of text messaged and/or the phone calls made or received on daily basis. For inferential analysis, Pearson's coefficient of correlation and multiple regressions were used to test the degree of association between ESS and the independent variables (mobile usage).

Limitations:

Resource limitation is an unavoidable factor. It being a sample study concerned with one college can be replicated as a census study covering more colleges.

Findings/implications:

Multivariate regression analysis indicated that ESS was significantly associated with the average number of call per day and the expectation of being accessible via mobile phones. The findings threw light on the association between the mobile (disruptive technology) usage behaviour and daytime sleepiness amongst the students at the stipulated management college in Delhi. It would be helpful in assessing the impact of the disruptive technology on students and hence, measures can be devised to curb those factors. Further scope of research is created to fill the gaps of current research.

Keywords: Epworth Sleepiness Scale, mobile usage, demographical factors, multiple regressions, disruptive technology.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/54-64



Labour Productivity And Structural Change In India: A State Level Analysis

Adwitiya Mishra

Abstract:
Complimentary Article - Full Text PDF

Growth of productivity of labour is a critical factor influencing economic growth. Gaps within productivity of labour across various sectors highlight the growth reducing allocative inefficiencies. However, a positive aspect of these allocative inefficiencies can be that they can be converted into potential engines of growth if labour shifts from low productivity to high productivity sectors. The growth caused by reallocation to high productivity sectors is caused by structural change. This study analyzes growth of productivity of labour in 16 major Indian states by decomposition of labour productivity into 'within sector' growth component and structural change component. The study finds that within sector productivity growth has been the major driver of productivity growth in India. Also, states experience a positive level effect of structural change on their productivity growth, however seven states namely Madhya Pradesh, Odisha, UP, West Bengal, Haryana, Rajasthan and J &K experience a negative growth effect of structural change, implying that labour allocation in these states has been from low productivity agriculture sector to other low productivity non-agriculture sectors.

Keywords: Labour Productivity, Shift Share Analysis, Structural Change.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/65-81



Analysis of Merger and Acquisition Deals of Major Indian Banks: An Event Based Study

Dr. Anjala Kalsie,Dr. Ashima Arora (Corresponding Author)

Abstract:
Complimentary Article - Full Text PDF

The paper studies the Merger and Acquisition phenomenon on both the acquiring and the target bank's stock prices of six major domestic bank M&As, in a period spanning from 2004 to 2014. It compares the short-term impact of acquirer and target share prices around the announcement period. Two different methods – Market Model and Market Adjusted Models were used to find the impact of merger announcement on stock prices. The paper studies the phenomenon, from a time 10 days prior to the merger announcement date, to 10 days post the merger announcement. The paper finds that in case of distressed asset takeover or where the merger was forced by the RBI, both the acquirer and target entities lost value around the day of announcement. Among the six target banks, abnormal returns are marked by large standard deviations, with returns, around the announcement date, ranging from a large -70% to +50%. The study did find significant abnormal returns at four-days post the merger announcement. However, no significant abnormal returns are found for any of the event windows. The paper also finds that abnormal returns gradually vanish, few days after the announcement, supporting the efficient market hypothesis of Fama et al. (1969).

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/82-120



A Comparative Study of Transactional Styles of Higher Education Teachers

Dr. Poonam Khurana

Abstract:
Complimentary Article - Full Text PDF

Purpose:

Transactional Analysis (TA) is an illustration of relationship between personality and behavior and an organized tool for personal development and personal effectiveness. When two persons interact with each other, a social exchange of ideas and behavior takes place. Analysis of these exchanges or transactions is called transactional analysis. TA teaches the phenomenon of life script and explains how our present life patterns originated in childhood. It provides a theory of effective communication. Eric Berne the founder of transactional analysis, made complex interpersonal transactions understandable when he explained that the human personality is made up of three “ego states”. Each ego state is an entire system of thoughts, feelings, and behaviors from which we transact with one another. The present study has been intended to find out whether there is any difference between the Transactional Analysis Styles of faculty teaching in higher education Institutes with in relation to various demographical factors.

Objectives of Study

(1) To design the Transactional Analysis profiles of faculty members.
(2) To study whether there is any difference between the Transactional Analysis Styles of faculty members in relation to the following:
a. Gender
b. Age
c. Qualification
d. Organization
e. Position
f. Work Experience
(3) To develop a model of Transactional Analysis Styles for the faculty members.

Design/ Methodology/Approach: In the present study, sample consisted of faculty members working for colleges like Management and Engineering, faculty members (Male & Female) working in different work positions with variety of expertise and educational qualification are selected for the study. The sample size for the study is 150 faculty. The faculty members are of minimum 25 years of age; who are at least Post Graduates and have at least 0-5 years of work experience.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/121-131



HR Analytics at Work: Making More Powered Organisations

Ms. Parul Manchanda, Shruti Gulati

Abstract:
Complimentary Article - Full Text PDF

Purpose – Today, the aim of the organizations and their leaders is not merely efficiency but it is something beyond. The experts in charge of the varied departments like marketing, finance, supply chain management, information technology and customer relationship management have been recognising the fact, howimperative the data driven insights are to generate notable business results. However, the human resource departments have always had a hard time while connecting the data to better business performance. While the HR often focuses principally on its own performance, the need of an hour is to shift this focus to the level of talent decision it supports. The motive of this paper is to study the significance of Human Resource Analytics in managing the human resource of the organizations and also to know its effect on the outcomes of their businesses. It would also emphasize on the evolution of HR Analytics from HR Metrics and various fundamental factors which when combined with recent and ever-rising interest in evidence-based management, have led to the emergence of Workforce Analytics. Furthermore, it would throw some light on the increasingly growing interest of various companies in HR Analytics and the different tools employed by them to reduce attrition rate, mitigate risks and build a value added training culture in the organizations too.

Design/ Approach/ Methodology – Existing research was examined to draw linkages between the traditional and fundamental tools used for measuring the performance of the people at work and predictive action taken by making use of workforce analytical tools for generating better business outcomes. The existing gaps in HR metrics, which led to HR Analytics, were also disclosed.

Findings – The literature that has been studied suggests that there is a positive influence of using HR Analytics at workplace. However, the concept is still not in practice by all the business organizations for the human resource has not been very adaptive to analytics.

Research Limitations/ Implications – Although the question of measuring employee performance is of great concern and can pose a major threat on the business results if not measured properly, yet the analytics has not been appreciated in the organizations to a great extent.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/132-141



A Research on Gender Demography Discernment in Paradigm in Airlines Services in UDAN

Shruti

Abstract:
Complimentary Article - Full Text PDF

Present research is to know the customers perception towards the new scheme of the government UDAN (Ude Desh Ka Aam Naagrik) scheme. The analysis is in conformity with the objectives of the study and the hypotheses formulated. The collected data are analyzed through SPSS 21 version. Findings include significant difference is found in average agreement on customer perceptions towards UDAN. It is also observed that Regional connectivity will get a boost with the applicability of UDAN, more employment opportunities are expected by different demography, boost to airline service industry. It is also found that low cost fare will be the USP for travelers. It is also recommended like providing knowledge about different measures to ease the travelers comfort like Viability Gap Funding (VGF) provided by the government will be remarkable step to improve satisfaction in airlines services to different demographics.

Keywords: UDAN, Airline, Male, Customers.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/142-148



A Study on Non Executive Directors and Company Financial Performance : Evidence From India

Ms. Vijay Lakshmi

Abstract:
Complimentary Article - Full Text PDF

The purpose of this study is to empirically examine the relationship between non-executive directors and Indian listed companies' performance. Since is known that board plays pivotal role into the organisation affairs and success, so their composition is equally important. With the outset of Securities exchange and board of India clause 49, Companies Act, 2013 numerous corporate governance practices have been mandated. And non-executive director are custodians of corporate governance matters and being responsible for questioning on various aspects of the organisation, developing strategy. This study took sample size BSE 200 companies' index listed in India for 8 years. Various statistical test has been employed in order to examine the impact between dependent and independent variable. The findings of the present study do not find any significant relationship between directors' composition and company performance.

Keywords: Corporate governance, Company performance, Government policy and regulation, Company performance. JEL Codes: G14, L25, G38, G39

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/149-158



Impact of Information and Communication Technology on Employment of Persons with Disabilities (PWDs)

Prof. (Dr.) Shalini Garg, Aarti Sehgal

Abstract:
Complimentary Article - Full Text PDF

In this paper impact of ICT on employment of persons with disabilities has been studied. The aim is to increase the participation of disabled person in society and for shaping their future for the sustainable development of an economy. Today technology has become essential for our survival at workplace or for carrying out our day to day tasks. Technology also facilitates disabled people in retaining and obtaining employment. If we further throw light on disabled people then technological devices can help them to reduce physical and mental barriers. Information and communication technologies (ICTs) provides a user interface which allow people with disabilities to better integrate socially and economically by way of experiencing information, learning & teaching aids, personal communication, interaction and access to various educational facilities. When we talk about accessibility issues for disabled people, then removing barriers and providing access to technology is of paramount importance. To meet the standards of digital inclusion technology has already taken place in the digital market. But question arises are these technological interventions successful enough to grab the attention of persons with disabilities? Are these technological interventions successful enough to create confidence among persons with disabilities (PWDs)?

Keywords: Disability, Employment, Sustainable development, ICT, PWDs etc.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl2/2018/159-164



Volume 16, Special Issue 1 (Click here to show/hide details)

Impact of Environmental Awareness on the Purchase of Green Products

Ms. Shivangi Agarwal, Dr. Varsha Khattri

Abstract:
Complimentary Article - Full Text PDF

A growing awareness of different environmental issues has resulted in a change in the way consumers look after their lives. There has been a change in consumer attitudes toward green lifestyle. People are actively trying to reduce their impact on the environment. However, this is not widespread and is still evolving. The issue of the environment is an important subject today, as almost every government and society has begun to be more aware of the problems related to it. This leads to a green marketing trend used by the company as one of the strategies to protect the environment and simultaneously gain profit. It is a phenomenon that has become an important concept and strategy to facilitate sustainable development in India. This research provides a review of environmental issues and identifies the green values of consumers, their level of awareness of environmental issues, products and environmental practices. This study further, highlights consumers' perceptions and preferences of green marketing practices and products using a structured questionnaire and the way their changing preferences have led to the evolution of green marketing.

Keywords: Environment protection, Environmental awareness, environment friendly, green marketing, green products,consumer awareness.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.1



Post Demonetization and GST: Indian Economy Losing Its Steam – Myth or Reality

Dr. Himanshu Rastogi

Abstract:
Complimentary Article - Full Text PDF

India has moved ahead from being considered as unsafe investment destination and once been labeled as a crawling economy with indecisive political will and numerous hurdles. After the introduction of Liberalization, Privatization and Globalization policy in 1991 Indian economy started bearing fruits of progress and the growth engine started steaming to bring India among the front runners in terms of sustained economic growth. Today India is one of the important constituent of BRICS nations and is redefining economic growth with potential of becoming third economic power (China, US and India) by 2030 (Price Waterhouse Coopers (PwC) Report 2015). India is today is the seventh largest economy in the world at 2.2 trillion USD in terms of nominal GDP and third in terms of PPP. The economy is expected to expand to 5 trillion USD by 2025 as per Morgan Stanley Report 2017. The other positives in India's favor are stable and committed government at the center, one of the youngest nations having 65 percentage of population below the age of 35 year. When economy was marching with strength there were certain issues which needed immediate attention relating to increasing base of black money, tackling corruption, and restructuring indirect tax system. The Narendra Modi led government in order to combat the black money announced demonetization of Rs.500 and Rs.2000 currency notes on 8th November 2016 making them to lose legal status of tender money from midnight of same day. Apart from this the Government introduced tax reforms by introducing GST with effect from 1st July 2017 replacing multiple cascading taxes levied by the central and state governments. The impact of these two tough decisions was that the economic growth fell to three years low at 5.7 percent in the April-June Quarter of 2017, even below China. There started hue and cry over the tough decision taken by the government. In this background paper tries to analyze whether the Indian Economy has really lost its steam because of these two major decisions or it is just a short term fluctuation and not a long trend arising out of cleansing the system and will march with glory in times to come and place our country on the world map economically more progressive. The paper is based on secondary source of data gathered from various newspapers, reports, journals and websites. The limitation of the paper depends upon the quality, reliability and accuracy of data obtained from various data sources; however efforts have been made to make use of only authentic source of information to the maximum possible extent.

Keywords: Economic Growth, Black Money, Demonetization, GST.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.2



Customers' Expectations and Perceptions of Service Quality of Life Insurance Corporation of India

Mamta Bhushan

Abstract:
Complimentary Article - Full Text PDF

Service Quality is crucial in any business as it helps create the bond between the business and its customers. After the implementation of government policies on globalization and liberalization, the Indian insurance sector has started showing signs of significant change. Life Insurance Sector in India has become highly competitive after opening up of the sector to private insurance companies. In the present era, customers become more critical about the service quality and they are become more aware about the options available in the market related to the services and service providers. Due to increase in customer awareness, customer expectations are rising and the providers should aware about the expectations of the customer and provide prompt, relevant and efficient customer services to survive in the competitive environment. The paper seeks to measure the customers' expectation levels of service quality against their perceptions levels of the service quality in Life Insurance Corporation of India and to determine the gap between customers' expectations and their perceptions of the service quality. The service quality of LIC has been measured on basis of five parameters such as tangibility, reliability, responsiveness, assurance and empathy through SERVQUAL instrument. Data was collected from 120 policyholders of LIC in Delhi and NCR region by using a pre structured questionnaire. Convenience sampling method was used to select the participants. Descriptive statistical analysis, gap mean score and reliability analysis were carrying out. The results suggest that there exist a significant gap in service quality expected and perceived by the customers of LIC which indicate high expectations of policyholders about service quality. So it is recommended that LIC should take corrective measure to improve its customer services on selected dimensions of service quality which help to maintain its status as market leader in the life insurance industry.

Keywords: Service Quality, Customers' Expectations, Perception, SERVQUAL.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.3



Empirical Analysis of Stock Market Volatility using Implied volatility as a variable to GARCH Models

Himani Arya, Dr. Dinesh K Sharma

Abstract:
Complimentary Article - Full Text PDF

This study is an attempt to analyze volatility in Indian stock market. The objective of this paper is to add the informational content present in implied volatility to the GARCH models to improve its forecasting ability and to the test GARCH models in explaining the unique traits of the financial market of India, to assess its significance in capturing Indian stock market volatility and to test the relative performance of few GARCH models. This paper focuses on three types of GARCH models comprising of GARCH(1,1), EGARCH(1,1) and TGARCH(1,1) for a time series data of Nifty for a time period of 10 years. However, we have utilized three types of GARCH models considering the symmetrical and asymmetrical aspects of the index in this paper.

Keywords: GARCH, TGARCH, EGARCH, Implied Volatility, Nifty.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.4



The Impact of Human Resource Practices on Employee Retention in The Indian Telecom Sector: A Special Reference To Delhi/NCR

Munish, Dr. Rachna Agarwal

Abstract:
Complimentary Article - Full Text PDF

This study examines the human resource (HR) practices that promote employee retention. Effective HR practices can reduce employee turnover and increase retention within an organization. Key employees are the instrument for overall growth and development of an organization. This study focuses on telecom sector of India, a special reference to Delhi/NCR. The most important HR practices have been identified with the help of literature. These practices are training and development, compensation and culture. A questionnaire was developed in this study with the help of literature to measure the identified HR practices and employee retention. The sample size of this study was 250. Regression analysis was performed to analyse the data. The results of multiple regressions revealed a significant impact of HR practices on employee retention. Compensation and culture has a positive relationship with employee retention whereas training and development has a negative one. This study guides the management to devise the effective strategies to improve the employee retention.

Keywords: : Human Resource Practices, Employee Retention, Training and Development, Organizational culture, Compensation.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.5



Equity Price Influencing Factors of Financial Sector Firms in Nigeria

Abdullahi Ismaila Olotu, Misa Adamu Gassol

Abstract:
Complimentary Article - Full Text PDF

Arguments have abounded in what really influence the prices of equities. From the point of the efficient market hypothesis claim that only market fundamental factors are priced into stock to other lines of arguments that even microeconomic variables and psychological factors affects stock prices have continued to generate interest. For a developing country like Nigeria, the effectiveness of some of the factors identified in literature are even less certain. This study specifically targeted listed firms in the financial sector of the Nigerian stock exchange to examine the influencing power of key accounting and macroeconomic variables on stock prices. Out of the fifty eight (58) listed financial sector firms a sample of forty five (45) where purposefully selected based on the availability of monthly data for the period of year 2010 to 2015. The data were analysed using random effect based regression model based on the suggestion of Hausman test. The result of the analysis shows that all the variables, vis-à-vis earnings per share, price earnings ratio, market capitalization, oil price and exchange rate are significant determinants of stock price except for liquidity. Specifically, factors such as oil price and exchange rate all have negative influence on equity price. This implies that on a specific note, macroeconomic polies of the federal government is not in favor of the stock market. It is recommended that government must pursue a stable policy that will help stabilize the exchange rate. This will keep the performance of the market stable and in courage more stability of prices in the market.

Keywords: Stock price, Accounting fundamentals, macroeconomic variables.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.6



Exchange Traded Funds Vs Index Funds: Comparative Performance Analysis

Ms. Ashima Gaba, Dr. Ravinder Kumar

Abstract:
Complimentary Article - Full Text PDF

Exchange Traded Funds (ETFs) and Index Funds both are innovative products. ETFs are baskets of securities that are traded on the stock exchange. It is a hybrid financial product that bears the twin features of a stock and a mutual fund whereas Index Funds are mutual funds which replicate the performance of broad market index but can be purchased or redeemed only at the end of the day at the value of their net assets (NAV). The proposed study aims to cover the performance evaluation of Indian ETFs and Index Funds which track the same benchmark. Four different index funds along with four different exchange traded funds are considered in the study respectively tracking same benchmark .The study is based on secondary data and covers a period of five years i.e. from 2012-16 for the purpose of evaluating relative performance of selected ETFs and Index Funds. The parameters used for evaluating the performance are: Return, Risk, Sharpe Ratio, Beta, Jensen’s Alpha and R square. This study will enable to recognize the difference in performance of two significant similar passive investment strategies.

Keywords: ETFs, Index funds, Performance, NAV, Return, Risk.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.7



Sme Financing: IPO ISSUE AND POST-IPO ANALYSIS

Ashish Sharma, Prashant Gupta

Abstract:
Complimentary Article - Full Text PDF

Small Medium Enterprises (SMEs) are an engine of growth for any nation in the world. As per estimates of World Bank, 45% of total employment is created by formal SMEs and approximately up to 33% of national income (GDP) in emerging economies. This calculation may further inflate if contribution of informal SMEs is included. As per estimates ~600 million jobs will be required in the coming 15 years to provide employment to the growing manpower worldwide, primarily in Asia and Sub-Saharan Africa. In emerging markets, SMEs provide most of the formal jobs. Therefore, access to finance is a key constraint to SME growth; without it, many SMEs suffer and stagnate.
Recently, an initiative has been taken for the capital financing of SMEs via IPOs, wherein the response has been very good and encouraging. Also, the performance of secondary market of SME IPOs has been very good. But the low level of liquidity and turnover makes the whole process risky for investors. This is why SEBI (market regulator in India) has issued directives that while investing in SME IPOs, small investors should be kept away. SEBI further reiterates that merchant bankers should act as investors in such companies for at least three years. On the flipside, if these three years goes on in only settling the whole business, the interest of these shareholders may vanish and they may withdraw their investment. This will lead to liquidity crunch again. This paper focuses on measuring the effectiveness of SME financing through IPO and analysing how successful companies have been after raising finance through this route. Also, examining how the involvement of stock exchanges, where these companies are listed, may provide sustained support to the managements of these companies.

Keywords: BSE SME IPO, SME Exchange, SME Employment, SME growth

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.8



A Study on Post Hoc Analysis on Education Level in Mobile Banking

Dr. Madhu Arora,Dr. Anshu Lochab

Abstract:
Complimentary Article - Full Text PDF

The present study is laid out to know the impact of independent variable education on the dependent variables of customer satisfaction in mobile banking and factors responsible for such risks in the selected banks and to suggest measures for improving risk solutions. ANOVA are used to test the hypotheses and validate the results. The analysis is in conformity with the objectives of the study and the hypotheses formulated. The collected data are analyzed through SPSS 22 version. Findings include there is a significant difference in average agreement on customer satisfaction in mobile banking in mobile banking among the different edification. It is also observed that graduate respondents have greater agreement on infrastructure risk than post graduate. Graduates can be used to teach mobile banking to the society. Further mobile banking is suggested to be a part of graduate level course curriculum.

Keywords: : Mobile, banking, education, level, risk.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.9



“Self image awareness is the panacea for growth and success” A case study conducted on the middle level female managers of a government insurance organisation, Delhi.

Dr.Fakhra Naeem

Abstract:
Complimentary Article - Full Text PDF

Self image awareness implies better self understanding and effective analysis of self emotions and others emotions. The objective of the self awareness process is to create better self awareness, self knowledge, flexibility, adaptability and transformation. And it’s the most important element in understanding of emotional intelligence. It has been found that leaders who strive for perfection and excellence observed that self image awareness, empower them to utilize their competencies and potentiality to its fullest, which in turn leads to organizational growth and development. Self image awareness enhances learning and development and also open up the avenues for creativity and innovation.
The purpose of this paper is to analyse the degree of self awareness among female managers of a government insurance organisation, Delhi. Here in this study, a well structured questionnaire, consisted of 15 close ended questions followed by scores has been undertaken for the study.

Keywords: Self image, self awareness, emotional intelligence, leadership, self –development.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.10



IMF AND ASIA: CHANGING TRENDS IN ENGAGEMENT (1997-2017)

S.Harikumar,Dr. Rakesh Kumar Srivastava,Dr. Vivek Mishra

Abstract:
Complimentary Article - Full Text PDF

IMF engagement with Asia dates back to its formative years, however the focus had shifted more during the time of devastating 1997-98 Asian financial crisis. During the period the export oriented fast growing economies of viz: Indonesia, Thailand, South Korea etc caught in the quicksand of financial contagion had sought IMF assistance for rescue. IMF financial assistance had salvaged these beleaguered economies however the stringent conditionality had also invited wide criticism, Indonesia is case in point. After a decade (2007-2012), the financial crisis has hit the advanced economies which has again brought IMF to limelight and financial community had realised the relevance of the multilateral lender. During this time IMF has offered significant financial assistance to Eurozone economies, the assistance to Greece was highest of that sort. The conditionalities of the subject programme however has given rise to huge public discontent underscoring the fact that in spite of reviews in IMF conditionality there has been no substantial change in Fund’s approach to politically and economically sensitive issues. Another important development in the last two decades is the emergence of Asian countries such as China and India as significant players in global trade. Asian economies relatively unhurt by the global financial crisis undertook significant role in stabilising global economy by associating with G-20 platform, IMF and other multilateral institutions. The establishment of New Development Bank (BRICS Bank) and Asian Infrastructure Investment Bank (AIIB) are other important developments from the region. Sensing the changing trends IMF also as part of its latest governance reforms has provided greater role for emerging economies by increasing their quotas. In fact the major change in the last twenty years is increasing economic relevance of emerging economies of Asia and their reaffirming role in IMF governance structure.

Keywords: IMF, Asian Crisis, IMF’s Policy and Assistance.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.11



A Review of Factors Affecting Workplace Training Transfer and Its Effectiveness

Kushi Sharma,Dr. Neeti Rana

Abstract:
Complimentary Article - Full Text PDF

Purpose- The purpose of this research paper is to present a novel approach to transfer of training in organisations. A review of studies assessing transfer of training for various training programs are presented.

Design- The paper’s approach is theoretical and the methodology used is literature review of research papers focusing on transfer of training.

Findings- Transfer of training occurs in a specific work context. Once trainees return to their work places, they are confronted with their work environment This paper seeks to identify the various factors that affect transfer of training. It primarily gives an idea about the elements of the climate of transfer of training. Various researches have identified supervisor and peer support as major dimensions for training transfer Motivation to transfer also plays an important role in training transfer Managerial implications The research seek to assist training and development professionals undertake more robust and efficient training evaluations. The paper discusses about training outcomes in the form of knowledge which is transferred. The findings could help HR professionals developing training programs more effectively.

Scope of future work- Organisations substantially invest in organisational training but there is a lack of evaluation activity. Empirical research can be done on how transfer activities are related to effective evaluation and post training self efficacy. Limitations- The research does not study how transfer of training is related to various organisational issues like turnover and absenteeism, employee commitment and productivity etc.

Keywords: training transfer, effectiveness, capability, work environment, transfer motivation.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.12



Implication of Gst In Indian Economy: A Top To Bottom Approach

Neha Maurya,Dr. Rakesh Kumar Srivastava

Abstract:
Complimentary Article - Full Text PDF

In India there are two types of taxes levied, direct and indirect taxes. Direct taxes are income tax, corporate tax, wealth tax and Indirect taxes are those taxes which are indirectly paid to the Government are excise duty, service tax, custom duty, sales tax and VAT. Taxes, levied in India by the central government are CENVAT, Customs duty, Service tax and by different State government are mainly State sale tax, CST, Entry tax and other local levies. The government has replaced many indirect taxes by introducing one tax via Goods and Service Tax (GST) from July 1, 2017 across the India.
GST is a comprehensive tax levied on the manufacturing, sales and consumption on goods and services. In India the constitutional amendment to facilitate a GST has been claimed as one of the most radical economic reform since 1991. Political scientists have hailed the new cooperative financial federalism in the philosophy of “one nation, one market, and one tax”. The GST is needed to avoid the cascading effect, to maintain the uniformity in tax structure and to specify the role of the central and the state government. There are around 160 countries implementing the GST successfully like Australia, New Zealand and Canada and many more. With implementation of four legislation of GST - CGST, SGST, IGST and UT-GST and within the four slabs GST rate, 5%, 12%, 18% and 28% for the various type of the goods and services as low rate for essential items the tax rate high rate for the luxury items. This research paper is an exploratory study about the implementation of GST across the India, the structure of the GST, GST Network, allotment of GST number, tax collection via GST, and impact of the GST on various sectors/industry and on Indian economy over all. There have lots of changes been made after the GST introduction particularly in the tax slab and are many products now comes under 18% tax slab. This paper has tries to assimilate and evaluate various macro & micro aspect related to GST implication in Indian economy.

Keywords: GST,GSTN,GSTIN,CGST,SGST and IGST

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.13



Corporate Social Responsibility Practices, Involvement and Participation of Major Tractor Farm Industries in India – A Review

Ms. Saloni Chaudhary,Dr. Rudra Rameshwar,Ms. Raiswa Saha,Dr. Raghavendra G. Rao

Abstract:
Complimentary Article - Full Text PDF

Corporate social responsibility (CSR) gained its popularity and attention in India since last decade. Business houses take more attention towards CSR activities due to more pressure from society’s front. In India, many firms have taken initiatives in CSR practices to explore the problems of society. India is a land of agriculture; 80% people in India depend solely upon agricultural sector. To fulfil the requirements of agricultural farming, such people have a tendency towards green revolution. Hence, tractor farm industries have shown a rapid growth in taking cohesive participation in CSR supported by Indian law in serving the society at large.
In present research paper, three major farm companies have been dyed using case study approach - popularly known as Mahindra and Mahindra, New Holland and John Deere who are actively involved and participating in CSR activities. It has been found out that these companies believe in working on long-term business strategy with sustainable development approach by making well-structured plan on CSR.

Keywords: Stakeholder, Social responsibility, Economic Development, Environment, NGOs

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.14



Wastages of the grocery in retailing in Uttarakhand

Rishi Raj,Dr. G C Dangwal

Abstract:
Complimentary Article - Full Text PDF

Wastages is the compulsory activity of the production and business activity and most of the time it is accepted by the organization as its necessary outcome. But efficiency within the organization, resource based view, value chain aspect, profit making stages draw the attention towards the wastages. Various industry wastages are recyclable or reusable for further use or for profit generation, but food and grocery business are such a business activity in which no concept of reuse persist. Since food is natural product and is basic and primary need of human, perishing in nature, no recycling is possible here and may develop many social and economic problems if not taken seriously, so needs special attention by the policy makers.
Growing volume of waste, generated in both production and consumption of goods and services, unbalanced growth in population worldwide, increase in life expectancy age of population, reducing mortality rate due to medical advances has resulted in a larger pool of waste generator. Rise in per capita income of new developing areas like China, India, South East Asian nations, has to increase demand for goods and services led to rise in wastages of food and their products
In this study, (a part of Ph. D.) through direct findings of percentage of wastages of grocery retailers and comparison between the two major cities of Garhwal region Haridwar and Dehradun has been done. It is a primary effort to find out the wastages level of grocery retailing business in this hilly region.

Keywords: efficiency, resource based view, value chain.

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/iSpl1/2018/article0.15

Volume 16, Issue 1 (Click here to show/hide details)

CSR Implications: Comparative Analysis of Indian Companies with MNCS

Manisha Rani

Abstract:
Complimentary Article - Full Text PDF

Purpose – The purpose of this paper is to explore various different areas of CSR covered by the companies in India and to have a comparative analysis of such implications of Indian companies and MNCs.

Design/methodology/approach – The sample for the present study consisted of 30 companies including 15 Indian companies and 15 MNCs of different countries working in India in various industries. The data thus generated was analyzed with the help of non-parametric test and factor analysis.

Findings – The study finds that there is a not any difference in CSR practices of Indian companies and MNCs and that is in terms of focused areas of CSR. Companies are adopting CSR practices of environmental marketing, sustainable development, rural empowerment, local community support, and social empowerment.

Keywords: CSR principles, CSR activities, Social responsibilities, Environmental marketing.

PP. 1-13

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/1-13



Role of Competency Development Practices in Achieving Organizational Commitment

Dr. Shevata Singhal

Abstract:
Complimentary Article - Full Text PDF

The positive effects of Organizational Commitment (OC) have been well documented in management literature. Various Human Resource Management Practices affect the commitment of employees in an organization. An organization that invests in its human capital and grants employees sufficient resources and opportunities to improve their skills (competence development) has a greater likelihood of developing a higher level of commitment among its employees (Paré, G. & Tremblay, M. 2004). Such practices make the employees feel significant, responsible and free to optimally channel their creativity and competencies. This study takes initiative to find out the role of competency development practices in achieving organizational commitment. The target population of this study was engineers of private sector in NCR. The sample size of this study is 392. Regression analysis and ANOVA is used to test the hypothesis. Results of this study proved that competency development practices play a significant role in achieving organizational commitment.

Keywords: Organizational Commitment, Competency Development Practices, HR, Employees.

PP. 14-23

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/14-23



Investigation of Factors Influencing Mobile Broadband Adoption in Gurgaon Province of Southern Haryana

Arun Yadav, Dr. Ajai Pal Sharma

Abstract:
Complimentary Article - Full Text PDF

Broadband lies at the heart of fourth industrial revolution. Recent advances in broadband framework have created greater opportunities to flourish digitisation. Digitisation is all about mobilising the basic necessities using broadband services that do not require any high-end gadgets. Broadband continues to be a space of rapid innovation, particularly in patterns of access and use. It has pervaded every aspect of human life whether it is agriculture, healthcare, education, banking, e-commerce, governance or entertainment. In past two decades, the development of wireless communication has proceeded rapidly from Morse code to the latest wireless technologies. Mobile phones have become interactive devices capable of managing several aspects of people's lives and could arguably, nowadays, be described as indispensable. Wireless and broadband technologies have presented themselves as a powerful tool to break the barriers of time and space. Moreover, mobile broadband is assumed to be highly instrumental in bridging the rural-urban disparity. This study aims to investigate the factors that affect the consumer behavioural intention to adopt mobile broadband with specific reference to Gurgaon province of Southern Haryana. Various attitudinal, normative and control constructs were identified and investigated that possibly influence the mobile broadband adoption. The result suggests that Utilitarian Outcomes (UO), Hedonic Outcomes (HO), Requisite Knowledge (RK) and Facilitating Conditions (FC) are significant predictors of Gurgaon consumer's behavioural intention to adopt mobile broadband.

Keywords: Mobile Broadband, Behavioural Intention, Adoption, Digital Divide, Digitisation.

PP. 24-38

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/24-38



Factors causing work related stress in the Hospitality Sector: A study of employees in three star hotels in Dehradun Region

Ekta Rao, Dr. Alok Goel

Abstract:
Complimentary Article - Full Text PDF

Hotels are an important component of the hospitality sector as every tourist wants a comfortable and secure stay. Customers rate a tourist destination according to the performance of the hotels. The workforce of a hotel plays an important role in satisfying a customer. But the workforce is highly stressed because of a number of factors pertaining to the hotel industry. This paper aims to identify the factors causing work related stress among hotel employees. Descriptive research method was used to identify the factors causing stress and technique of factor analysis is applied. Findings of the study identified work load, control over work, role clarity, interpersonal relations, managerial support and organizational policies as six major factors causing stress among employees in the hotel industry. The findings of the paper are a guideline for the hotels to bring about modifications in these factors and hence improve mental well-being of their workforce.

Keywords: Hospitality, hotels, work related stress, service delivery.

PP. 39-50

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/39-50



Word of Mouth to Word of Mouse: A Study

Rutika Saini, Dr. H K Dangi

Abstract:
Complimentary Article - Full Text PDF

Electronic marketing has been used by various marketers to reach the target audience. With the passage of time online social networks and company websites are increasingly being adopted as a source of disseminating information. Viral marketing is a promotional strategy that uses social networks to influence consumers and make them purchase a particular product. Traditionally, the marketer used to advertise their product to each potential customer. The rise of internet has made it easier to reach customer. Now they are inducing their customers to pass on the message. This study compares traditional strategies with viral marketing strategy. The paper examines previous researches and synthesise them. Literature indicates that effectiveness of viral marketing campaign is still questionable. Despite the increasing trend of viral marketing there is an uncertainty about the effectiveness of campaign. The present study identify various factors that leads to the success of a viral marketing campaign.

Keywords: : Viral Marketing, Buzz Marketing, Electronic word of mouth.

PP. 51-60

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/51-60



Acceptability of service sector based Indian Public Sector Undertakings in international market

Ankur Panwar, Dr. Amarjeet Kaur Malhotra

Abstract:
Complimentary Article - Full Text PDF

Public Sector Undertakings (PSUs) in India are the entities which have the status of being Government-owned companies. Internationalization of activities is unavoidable these days. Finding acceptability of Indian service sector based PSUs abroad, is a major planning task. There is dearth of earlier studies in this field. This paper analyzes and finds out the acceptability of service sector based Indian PSUs in various International markets and preferred entry modes and strategies adopted by them. This paper encompasses the boundary of entire International market. Responses to our questionnaire are collected from 120 experts dealing with service sector based Indian PSUs. This research study is exploratory in nature. The judgmental or purposive sampling method is used in the study. Data collected from various sources is interpreted and analyzed with the help of need based statistical techniques. Preferential mapping has also been used in the study to know the preferences of the respondents.

Keywords: PSU, Service sector, International business, Acceptability abroad, International markets, Entry methods, Promotional strategies, Operational strategies, Preferential mapping, Descriptive analysis.

PP. 61-81

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/61-81



Linkages between stock & commodity indices: An empirical Investigation

Dr. Rakesh Shahani, Madhav Tiwari, Anuj Miglani

Abstract:
Complimentary Article - Full Text PDF

The present study makes an attempt to investigate the linkages between movement of the NSE Nifty (stock index) and MCX Comdex Futures (Commodity Index). The study period is five years (April 2012 to March 2017, daily closing prices). The econometric tools used in the study include JB Normality test, Unit root ADF, Granger Causality, Engle Granger & Johansen Co-integration Tests & Vector Autoregressive Model (VAR). The result of the study showed that both indices under study were I (1) stationary. The Co-integration test results showed that the two indices were not co-integrated. The VAR results showed that each index was a function of its own lag; MCX COMDEX till lag '2' while NSE Nifty till Lag '3'. Granger Causality which was run at first difference showed that positive Causality flowing from NSE Nifty to MCX COMDEX, but not vice versa.

Keywords: MCX Comdex Futures, Engle Granger Co-integration, Vector Autoregressive Model, Unit root ADF.

PP. 82-93

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/82-93



A Study on the Semi Strong Form of Efficiency in Indian Stock Market

Dr. Pardeep Gupta, Supriya Sardana

Abstract:
Complimentary Article - Full Text PDF

Purpose- The main purpose of this research study is to investigate semi strong form of efficient market hypothesis of the firms constituting Nifty 50.

Design/ Methodology- The Research Design is Descriptive. The variables in the study are daily closing prices of sample firms, NIFTY 50 index and the time period. Prior to the testing of semi strong form of efficiency, weak form of efficiency has been tested by using Serial Correlation (parametric) test (Reilly and Brown, 2012). Then, Event study methodology (Elton and Gruber, 2002) using daily returns and Ordinary Least Square (OLS) market model (Brown and Warner, 1985) have been used in the study to test the semi strong form of efficiency. The event taken in the study is demonetisation announcement made in 2016. Z test has been used to test the significance of the abnormal returns around the demonetisation announcement date (Das et.al. 2014). t- test has been used to test the significant difference in the average abnormal returns before and after the demonetisation announcement date (Ramachandran, 2012; Lahiri, 2012).

Findings- The market is found to be efficient in its both weak and semi strong form i.e. no investor can earn the abnormal return based on the historical and current publicly available information.

Research limitations and Future Scope - The study has been undertaken using the firms constituting NIFTY 50. The study with reference to firms listed in other indices may provide different sets of results. For future research, share prices reaction to other microeconomic and macroeconomic events taking different sectors can be considered.

Contribution of the Paper - The research on EMH is important as it has significant real world implications for investors and portfolio managers. To protect the interest of the investors in the capital market, the efficiency of the market plays a vital role (Kummeta, 2015). The investors now pay more attention to all the events and patterns that influences the share price movements in the stock market. The events influencing the security prices may be either controlled by the companies or may be forced by the external factors. Therefore, knowing the efficiency of Indian Stock Market is required.

Keywords: Event study, Demonetisation, Nifty 50, T test, Z test, Serial Correlation test, OLS Market model, Weak form, Semi strong form, Efficient Market Hypothesis.

PP. 94-107

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v16/i1/2018/94-107

Volume 15, Issue 2 (Click here to show/hide details)

Impact of Implementation of Corporate Governance Guidelines (Clause 49) on Financial Performance of Indian Listed firms

Dr. Prashant Gupta, Dr. Dinesh Kumar Sharma

Abstract:
Complimentary Article - Full Text PDF

Generally the good corporate governance reduces the agency problem and improves the firm/enterprise's performance. It not only cubs the corporate frauds, scandals etc, but also improves the corporate image in the minds of all stakeholders and public at large. During liberalization in early nineties, evolution of corporate governance also started in India from Cadbury Committee Report to Kumar Manglam Birla report on Corporate Governance. Then, came the formal code of conduct or guidelines issued by the regulator of capital markets, Securities Exchange Board of India (SEBI) by inserting a new 'Clause 49' in the listing guidelines to make these mandatory for all the listed companies in India from January, 2006. The question is to determine how governance and firm performance interact with each other and study their relationship to find some meaningful results. This study examined the impact of the implementation of the Clause 49 (corporate governance) on the firm's performance in India. Since it is made compulsory for the listed companies, hence this study is done on the companies listed in the NSE. Both market and accounting based performance measures are used for the purpose. Unique data from 50 listed firms drawn from the index “Nifty 50” to represent the Indian listed firms for 16 years, covering eight years period each for prior and after 2006 to find out the impact by comparing the results. The result of the study suggests that there is no positive impact of implementation of Clause 49 on the performance of the Indian listed companies.

Keywords: Corporate Governance, Clause 49 and Firm Performance.

PP. 1-16

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/1-16



Role of Stakehoders in Implementing Green Supply Chain Practices in Indian Automobile Industry

Renu Paisal, Dr. Manisha Sharma

Abstract:
Complimentary Article - Full Text PDF

Concerned with environmental sustainability, most organizations have started to go green in their functions and are adopting green supply technology in order to provide more benefit to their business operations as well as their suppliers and customers. Environmental concerns have become very important issues mainly in manufacturing industry for obvious reasons and more so in the automobile industry as it is considered to be one of the biggest sources of pollution. It is observed by many researchers that stakeholders play key roles in a number of ways in the supply chain. Therefore, this study specifically aims at understanding the role of stakeholders in the implementation of Green Suuply Chain Practices (GSCP) in Indian Automobile Industry. The present paper is qualitative in nature which will explore various research papers extensively to bring out the nature of relationship which can be tested further empirically.

Keywords: Green Supply Chain Practices, Stakeholders, Indian Automobile Industry.

PP. 17-32

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/17-32



Mismatched Perception and Expectation of Retail Stakeholders: An Assessment of Indian Retail Store Jobs

Dr. Anju Verma, Dr. Ubba Savita

Abstract:
Complimentary Article - Full Text PDF

The organized Indian retail sector is rising exponentially with large number of job openings coming up in the retail sector, it becomes indispensable to identify the gaps in skills and job profile for the organized retail stores coming up in various parts of India. The present study is an attempt to have an insight of the skills and job profile in retail stores across India. The sample included the stakeholders of retail sector; the students (prospective employees) and the present retail employees in order to identify their mismatched understanding for the kind of skills required and the actual profile of a retail job. The findings highlight that technical, liasioning, creativity, interactive, leadership skills and prior degree / course make up the skills required for retail store job. The retail store job profile includes flexible working arrangements, responsiveness, sales analysis, contributing towards society and company; and other issues.

Keywords: Job profile, Job skills, Retail, Store.

PP. 33-43

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/33-43



Role of Imparting Value Driven Soft Skills in Young Managers: An Empirical Study in The Indian Context

Prof. Shalini Garg, Shipra Sharma

Abstract:
Complimentary Article - Full Text PDF

Summary: The institutes are in constant pressure from the organizations to train students in a way that they are best fit for organizations. These educational institutes often rigor themselves by upgrading curricula as well as pedagogy so as to impart best managerial and technical skills to the students. Looking at today’s scenario although students have technical skills but they generally lacks in soft skills which are essential for achieving peak performance in organizations and becoming good managers. Therefore, this paper tries to investigate influence factors (Teachers and Institutes) in imparting value driven soft skills to these budding managers. It also tries to demonstrate 4C’s (Collaboration, Creativity, Communication and Critical Thinking) imparting Values to enhance the performance of young managers in organizations.

Keywords: Schwartz Value Theory, Value based Pedagogy, value drive soft skills.

PP. 44-51

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/44-51



CSR Activities and Responsibilities by FMCG Companies of India: A Customer Perspective

Shivani Raheja

Abstract:
Complimentary Article - Full Text PDF

Corporate Social Responsibility is a strategic weapon that is often used by the corporates as per the whims and fantasies of board and managers to project the image of being a ‘Good Corporate citizen’. It can be used as a marketing tool, wherein the Corporates use CSR as the basis of Segmenting, Targeting and Positioning (STP) in order to decide their social initiatives. They Segment the CSR domain broadly in three Segments Planet, People, Profit and specifically in ten areas as per the basis of various areas/ themes listed in schedule VII of the Company’s Act 2013. Managers then carefully identify and target the areas, to show the concern towards Planet, People and Profit by way of meeting Triple Bottom Line (TBL). But, are the customers supportive of these CSR initiatives taken up the Corporates, while making purchases? Numerous researches have proved that focussed CSR initiatives improve the financial health of the companies but a very less number of significant studies have been done in Indian Context to check the end consumers’ understanding and perception about CSR. The biggest challenge for the managers lies in the core of identifying a mechanism to explain “where to spend” and “how to communicate”?
This paper is a partial submission of the research work done under Ph.D. requirement in the specified topic. This research paper is a contributory part of the major study done under the Ph. D submission requirements of the author. In this paper, the author has tried to explain the CSR from the consumer’s perception, what FMCG companies in India do in the name of such CSR practises, an attempt has been made to check whether the consumers are supportive of such CSR practises and finally to identify the gaps between what companies does and what the consumers expect.

Keywords: Corporate Social Responsibility, Strategic Weapon, Corporate Citizen, Corporate Conscience, Social Performance, Sustainability Strategy, CSR Practices, Segmenting, Targeting and Positioning, Company’s Act 2013, Triple Bottom Line, Profitability, Consumer’s Perception, FMCG, India.

PP. 52-63

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/52-63



Factors influencing Women Employees in Hospitality industry: A Study with reference to Lucknow

Dr. Tripti Barthwal, Dr. Akanksha Srivastava

Abstract:
Complimentary Article - Full Text PDF

The hospitality industry is one of the fastest growing industries in the world. The core of the hospitality industry lies in promptness in service, patience, courtesy, and adaptability towards customers – all qualities which females are generally naturally endowed with. Women are different from men in more than one aspect. Hence, the factors which influence working men may not apply in the same degree to working women. Focusing specifically on women, this study surveyed 50 women executives in the hospitality industry to find out the factors influencing women in this industry. The study first conducted a review of literature to bring out the important factors & then used factor analysis to discover the key factors influencing the work of women in hospitality. Further, differences in the attitudes of working women on the basis of their age & marital status were also analyzed through cross tabulations.

Keywords: Women, hospitality industry, gender equality, work life balance, career opportunities.

PP. 64-76

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/64-76



Evaluation of Post-Merger Performance on a Value Based Framework: A Case of Hindalco Industries Ltd. and Novelis Inc.

Dr. Anjala Kalsie, Dr. Ashima Arora

Abstract:
Complimentary Article - Full Text PDF

Multiple approaches have been used to evaluate the post-merger performance. The objective of the paper is to demonstrate value based approach for evaluating post-merger performance. Enterprise Value Added (EVA) as outlined by Stewart in 1980 has been chosen as the value based measure. EVA methodology was employed as a tool to evaluate the post-merger performance of the combined entity Hindalco in the paper. The merger deal between Hindalco Industries Ltd. and Novelis Inc. carried out in the year 2007 has been chosen to demonstrate Enterprise Value Added (EVA) as outlined by Stewart. The value obtained from the analysis found that the combined entity couldn’t produce expected performance. The five years post-merger analysis of combined entity’s performance revealed four years of negative economic value (EVA). This underlined that the actual EVA couldn’t keep up with the expected EVA improvements in the combined entity, thereby validating the fears of the target company being over-valued during acquisition process by acquiring company, Hindalco.

Keywords: post-merger performance, Enterprise Value Added, stock market reaction JEL CODE: G34, C52, G11

PP. 77-89

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/77-89



Financial Risk and Job Stress in Banks: An Empirical Analysis

Dr. Nidhi Dhawan

Abstract:
Complimentary Article - Full Text PDF

Stress in today’s life is affecting everybody at workplace. The employees of the banks are not left behind. People believe stress is natural and some stress is required but actually stress is not at all good. Stress is causing health problems and breakdowns whether it is less or more. The research paper examines the different stressors related to financial risk encountered by private sector bank employees. The bank employees have to deal with the cash handling and transfer of cash, or cash management; though computers have come but still stress of overwork and managing funds may be there. A survey instrument questionnaire cum-scales comprising financial risk stressors was used for identifying financial risk conditions that leads to increase stress level among employees. A Stratified sampling method was used for the selection of banks in the private sector for the present study. The sample included 130 middle level respondent employees from private sector banks in Delhi. The survey instrument was shown to be both reliable and valid. Statistical analytical tools such as Mann Whitney U test, Kolmogorov-Smirnov Z - Goodness of fit test and other Descriptive statistics scores have been used. An overall analysis of total 130 respondents clearly depicts in above table that the stress experienced by respondents is due to the Checking of genuineness of notes (2.19) followed by its custody which is a risk taking responsibility (2.17).

Keywords: Financial risk stressors, stress, banks.

PP. 90-96

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/90-96



Competency based Human Resource Management System- A case study of a leading Public Sector undertaking

Dr. Namita Gupta, Dr. Deepa Kumari, Dr. Bharat Gupta

Abstract:
Complimentary Article - Full Text PDF

The expectations of the dynamic world is continuously exerting pressure on the organizational systems to go beyond the job description based employee performance which turns stagnant under a period of time. This leads to the development of competency based management system that matches well with the pace of change in the external & internal requirements.
The proposed study aims at identifying & implementing the competency framework for an organization in manufacturing Industry. It throws light on the methodology to be adopted while designing & implementing a competency based management approach. It brings forth various managerial & functional competencies that support in the process of horizontal integration of HR practices thus leading to the creation of an effective system based approach. This results in the creation of individual & organizational road maps that provides them the requisite reference towards their goal attainment in a professional manner. It supports in creation of link between the various HR practices like training & Development, Performance Appraisal, Career Planning & Succession planning, Rewards & incentive Management etc as a result becomes a formulae to a more systematic & productive organizational management.

Keywords: Competency Management, Manufacturing, cluster, behavioral event interview.

PP. 97-106

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i2/2017/97-106



Understanding the Black Economy and Black Money in India

Dr. Tripti Toor Bajpai

Abstract:
Complimentary Article - Full Text PDF

Volume 15, Issue 1 (Click here to show/hide details)

An empirical Investigation of existence of Trading Strategy (Momentum or Contrarian) in context of Indian Equities

Dr. Rakesh Shahani, Prashant Singh (Student BMS)

Abstract:
Complimentary Article - Full Text PDF

The present study focuses on identifying which of the two strategies namely contrarian or momentum exists in Indian Markets. The selected data for this purpose includes twenty five stocks from the BSE Sensex and period of study is ten year period (2005-2015). Whereas the contrarian strategy would suggest that an investors should buy past losers & sell past winners the momentum strategy recommends the reverse; the purchase of the past winners and the sale of the past losers. To test these strategies in the Indian Market we have used annual portfolio average returns Formation-Holding Methodology 1-1, 1-2, 1-3, 1-4, 1-5, 1-6,1-7,1-8 &1-9. We have constructed five equal sized quintile portfolios after ranking the stocks in descending order of their returns. The methodology is somewhat similar to one applied in Jegadeesh and Titman (1993) J X K but with a rider in the sense that in our strategy we have fixed the Formation to 2005-06 & allowed the Holding Period to vary annually till 2015. The tests that have been applied in the study are ‘Difference of the Means test’, Cumulative Average returns & Mean Cumulative Average returns test. The results of our study shows that Momentum strategy works in Indian Markets as MCAR (Winner) >MCAR (Loser), thus reflecting continuation of returns.

Keywords: Contrarian, Momentum, Sensex, Formation-Holding Methodology, MCAR

PP. 2-8

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/2-8



Influence of Human Resource Management Practices on Organizational Commitment of Employees in Private Sector Banks in Chennai City

Dr. R. Ganapathi

Abstract:
Complimentary Article - Full Text PDF

Human resource management practices have remarkable relevance to banking sector in general and private sector banks in particular. The competency improvement, fair compensation, recognition and information sharing are the Human Resource Management (HRM) practices in private sector banks and there is a significant difference between socio-economic profile of employees and human resource management practices in private sector banks. The fair compensation, recognition, competency improvement and information sharing are significantly and positively influencing organizational commitment of employees in private sector banks. The private sector banks must provide better pay and benefits to their employees and they should recognize and appreciate their employees for their good work and achievements. The private sector banks should provide opportunities for development of skills and knowledge through training and development programmes and they should communicate properly and effectively to employees about various banking activities.

Keywords: Human Resource Management (HRM) Practices, Organizational Commitment, Private Sector Banks.

PP. 9-14

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/9-14



Impact of Perceived value of Malls on Shoppers' Satisfaction: A Case of Mall Shoppers of NCR of India

Dr. Suyash Mishra, Mr. Rishi Kant

Abstract:
Complimentary Article - Full Text PDF

Mall is a modern shopping centre which attracts and engages the shoppers because of their comprehensive nature of shopping, leisure and entertainment. It is always crucial to analyse the meaning of 'shopper satisfaction' because this is the reason of visiting a particular mall. The purpose of the current study is to identify the various dimensions of perceived value of malls which influence the mall shoppers for shopping and to investigate the impact of the extracted dimensions of perceived value of malls on shoppers' satisfaction. Exploratory factor analysis and stepwise regression analysis techniques are used to analyse the data. Findings of the study revealed fours factors (hedonic value, utilitarian value, self-gratification value and social-interaction value) to understand the perceived value of malls, whereas study further investigated that a remarkable percentage of change in shoppers' satisfaction is explained by hedonic, utilitarian and self-gratification shopping values. This research work also suggests various effective strategies to the developers/managers of shopping malls for the better shoppers' satisfaction.

Keywords: Mall, shopping, perceived value, shoppers' satisfaction.

PP. 15-24

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/15-24



Market Basket Analysis and Product Affinity in Retail

Dr. N. Malati, Ruchika, Bhawna Warikoo

Abstract:
Complimentary Article - Full Text PDF

Summary: In the current scenario of dynamic consumer behavior, it has become important for the retailers to understand the purchasing patterns of their customers and develop marketing strategies that develops customer loyalty. The introduction of electronic point-in sale increased the use and application of transactional data in market basket analysis. The major aim of Market Basket Analysis is to identify relationships in the form of association rules between groups of products, items or categories enabling the retailers manage their merchandise well and attract the customers for frequent purchases.
Purpose: The purpose of the study is to determine the pattern and associations among the lifestyle products such as apparels, watches, wallets, bags etc to better understand the buying behavior or pattern of the customers.
Research Design: Research design used for this study is correlational or Prospective Research Design. It attempts to explore relationships among the commodities to make customer purchase predictions with the data of the year 2013-2014. The 109102 transaction data was purchased from the ecommerce website and processed for analysis and pattern recognition of purchase of lifestyle products such as apparels, watches, wallets, bags etc. Apriori algorithm and C5.0 algorithm is used to analyze the data. The customer profiling on the basis of top five performing baskets in the four metropolitan cities Delhi, Mumbai, Chennai & Kolkata are taken as sample for studying the customer demographics.
Findings: Market basket analysis helped the ecommerce website to specifically target their customer segments with propensity of making frequent purchases.
Practical Implications: Retailers may use MBA to make advertising and promotions more predictable by understanding how buyers respond to different offers and communications vehicles. Longitudinal use of MBA allows ecommerce websites to characterize the buying behavior of customers over time.

Keywords: Market basket analysis, customer, product affinity, purchase patterns.

PP. 25-38

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/25-38



Investor's Behavior Regarding Investment- An Empirical Case Study

Dr. Rekha Dhingra, Dr. Vidhi Bhargava, Dr. Sheetal Chadda, Mr. Rahul Dhingra

Abstract:
Complimentary Article - Full Text PDF

Behaviour issues in finance are widely significant across financial markets, corporate or government context all across the globe. The objective of behavioural finance is to develop an understanding of the impact of human behavior in the financial context. The most crucial challenge faced by the investors is perhaps in the area of taking investment decisions. Every investor differs from the others in various aspects due to various reasons like demographic factors, socio-economic background, marital status, educational level, risk bearing capacity, financial health, age, gender etc. So this study will focus on how and why investors make their financial decisions and what are the factors, especially behavioural factors which influence investment decision. This study will suggest the most eminent behavioural factors that affect the investors' behavior. The understanding of these factors will assist individuals to resolve these behavioural errors and help them take intelligent investment decisions.

Keywords: Investment, Behavioural Finance.

PP. 39-44

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/39-44



Young Consumers' Online Shopping Decision Influencers: A Study on University students of Odisha

Pramod Kumar Nayak, Dr. Sathya Swaroop Debashish

Abstract:
Complimentary Article - Full Text PDF

The online consumer's decision largely influenced by the convenience, information on website, product availability, time and cost efficiency as suggested by Chayapa, Wang (2011). In a general practice, the consumers purchase multitudes of products to fulfill their diurnal needs and luxurious aspirations. Shopping decisions are influenced by many factors irrespective of channel of shopping used by the consumer. In recent years there have been great interests in research about online shopping as the growth of e-commerce has changed the landscape of shopping from off line to online. In the process of buying, an important medium, i.e. 'channel of shopping' also plays a major role. Here, channel of shopping implies the online shopping; this paper aims to find out the intervening factors that influence the online shopping decisions of young consumers in Indian context. The factors emerge in the current study which influence the decision of on-line shopping are Convenience, Security and Privacy on Website, Time and Cost Efficiency, Online Product Information availability, Website Interface and are in align with the factors suggested in the study of Chayapa, Wang (2011). In this context, the current study may enable the marketers to devise better strategies and designs of new age online marketing platform.

Keywords: Online Shopping, Convenience, Consumer Buying Decision, Website Interface and Content.

PP. 45-50

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v15/i1/2017/45-50

Volume 14, Issue 2 (Click here to show/hide details)

Estimating the Sensitivity of Stock Market: An Application of Asymmetric GARCH Models

Dr. Ravinder Kaur, Dr. Manmeet Kaur

Abstract:
Complimentary Article - Full Text PDF

Trading in stocks is filled with uncertainty and risk associated with extent of changes of an asset's value, magnitude of which is expressed as volatility. A substantial change in either direction in the price of an asset over a short period of time can be occurred due to higher volatility. The sensitive nature of market makes it decisive to study the volatility of market consistently for resolving the exact situation of the market. Analysis for stock market volatility has immense importance for all participants like policy makers, investors and companies who deals in stock markets. The application of appropriate models can measure the behavior and nature of volatility in accurate and acceptable way. The objective of this paper is to examine the nature of volatility in the India stock market and for this purpose the barometer of Indian stock market i.e. Sensex has been considered. The study is based on daily data of Sensex and widely accepted asymmetric GARCH models have been applied to study the nature of volatility. The findings of the paper indicate that there is time varying aspect in the Sensex volatility. However more effect is observed from previous days' information about return volatility. It is also extracted that negative shocks create more volatility in daily Sensex return in comparison with positive shocks. These are useful for various participants for whom risk and stock prices volatility factors plays important role in their decision making process.

Keywords: Volatility, Sensex, GARCH, Stock Price.

PP. 01-11

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/01-11



A Study of Productivity of Employees in Public Sector Commercial Banks of India and Nepal

Brajesh Kumar

Abstract:
Complimentary Article - Full Text PDF

India and Nepal both is a developing country. The main challenges before any developing country are to foster its sustainable growth. Therefore, banking industry is one of the fundamental instruments for economic growth. In banking services, human resources are most powerful and valuable input which play an important role to achieve high productivity. The management should change their mind set and consider manpower as the most important resource and should be taken care of properly. Productivity is defined as the goods and services produced per unit of labour or capital or both. So, skill and ability of employee can be judge through productivity by using some of the selected financial ratios. The present study has been focused to estimate employee productivity in public sector commercial bank of India and Nepal. To analyse employee productivity of these banks two main parameters like 'Business per Employee' and 'Profit per Employee' are selected. To find out the hidden fact some statistical tools like average, compound annual growth rate, Anova, co-relation and coefficient of determination have been used on tabulated data. This study is very significant for public sector commercial banks of both the countries and potential investors to take managerial and financial decisions.

Keywords: Productivity, Employee, public sector commercial bank, Business per Employee, Profit per Employee, Anova.

PP. 12-18

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/12-18



Working Environment- As a Predictor of Employee Engagement with reference to Academicians

Vidhi Tyagi

Abstract:
Complimentary Article - Full Text PDF

We notice, especially, youth generation are leaving their workplace at a faster pace reason being they want more out of their careers. For this employers work a lot to make their employees stick to their organizations because employee's stability has a huge financial affect on productivity and profitability. And to achieve this, management adopts methods of connecting the personal development of its employees with the organizational growth. This connection is possible when employees are truly 'engaged'. Organizations need to fulfill the aspirations of its employees and these aspirations are much beyond their salary expectations. Insight into their psychology towards their work and work environment can provide much information which can be used to engage the employees. Employee engagement is described as an employee's involvement with, commitment to and satisfaction with work. Employee engagement has gained popularity & attention from various practitioners and researchers. Present study is concerned with identifying the impact of working environment on employee engagement among academicians. The study is empirical in nature and done in Gwalior region. The sample size for the study is 130 and multiple regression method was used to arrive results. The findings of the study show the significant relation between working environment and employee engagement.

Keywords: Academicians, Employee Engagement, Working Environment.

PP. 19-27

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/19-27



CSR Spending and its Relationship with Share Prices
(With Special Reference to Top Indian Auto Ancillary Companies in Light of Companies Act 2013)

Dr. Ritu Sapra, Chanpreet kaur

Abstract:
Complimentary Article - Full Text PDF

For the purpose of making the firms accountable and responsible towards its stakeholders, Companies Act 2013 has introduced mandatory contribution of 2% of average net profit towards Corporate Social Responsibility. In the present study, the relationship between Mandatory CSR spending and Share Prices has been studied for top Auto Ancillary companies listed on NSE. The study can help us to know that whether this compulsory move by the Government is a burden on the companies or not. Share Prices have been taken as they reflect the wealth of the share holders and also an impression of investor's confidence. The companies have been divided into various categories on the basis of net profits and the relationship has been studied for each category and on overall basis. The results depict chance relationship between compulsory CSR Spending and share prices for all companies except those falling in lowest category of net profits.

Keywords: Corporate social responsibility, CSR spending, Share Prices, Auto Ancillary Companies, Average Net Profits, Companies Act 2013.

PP. 28-36

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/28-36



Sustainability through Going Green: An Empirical Study of Service Firms

Sonika Nagpal, Garima Gupta

Abstract:
Complimentary Article - Full Text PDF

Increased deterioration of the ecosystem has raised concern for environmental protection around the world. Increasing thrust on environmental issues and consumers' awareness in this regard has created a pressure on the corporate sector to adopt green marketing practices. Realizing the importance and strategic implications of pursuing green marketing practices in terms of favourable economic, social and environmental outcomes, firms have started taking initiatives in this regard with a greater rigour. In comparison to the manufacturing sector, service organizations consider the demonstration of green commitment a difficult endeavour and hence adopt green strategies in their operations and processes. It is in this context that the present paper examines green marketing activities followed by service firms and the subsequent impact of implementing these practices on firms' overall sustainability. Using Confirmatory Factor Analysis (CFA), the study generates three dimensions of green marketing practices for services namely, 'Green Service Policy', 'Green Service Support', and 'Green Service Delivery'. The results of Structural Equation Modeling (SEM) provide a good fit for the relationship between green marketing practices and sustainability of service firms. The paper ends with suggestions and implications for marketers, firms and policy makers and outlines future scope of research in this area.

Keywords: Green Service Policy, Green Service Support, Green Service Delivery, Financial Sustainability.

PP. 37-48

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/37-48



Job Inadequacies and its Impact upon Overall Job Performance An Empirical Analysis

Dr. Nidhi Dhawan

Abstract:
Complimentary Article - Full Text PDF

The aim of present study is to understand the impact of job inadequacies on overall job performance and to explore the relationships between the variables. The data for the study was collected from 240 middle level employees working in the public sector banks of Delhi. Two banks selected for the study are SBI and PNB. The structured questionnaire has been used in the study and was found to be both reliable and valid. The data has been analysed by using the Structural equation modelling (SEM) and confirmatory factor analysis (CFA). The study reveals that there is a negative impact upon overall job performance as there predictors personal inadequacy (-0.11), resource inadequacy (-0.47) and financial inadequacy (-0.071) as stressors are negatively associated with it. Higher the impact of these stressors, lower the overall job performance. Correlation (0.45) is found among the personal and resource inadequacy as stressors; resource inadequacy and financial inadequacy (0.37) and personal and financial inadequacy (0.47) and overall job performance has a positive impact (0.66) upon overall job satisfaction. The hypothesis tested showed a significant and negative relationship between stressors and overall job performance and a positive relationship between overall job performance and overall job satisfaction.

Keywords: Stressors, personal inadequacy, resource inadequacy, overall job satisfaction.

PP. 49-58

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/49-58



Understanding E-Shoppers Behavior in Delhi: Based on Risk Dimensions

Dr. Sunayna Khurana, Mrs. Dipti Jain

Abstract:
Complimentary Article - Full Text PDF

The risk consumers' face is considered as a prime concern affecting consumer behavior and decision making process while shopping online. The aim of this study is to examine the effect of various dimensions of perceived risk on e-shoppers behavior and also to find the relationship between various demographic variables of e-shoppers and perceived risk. The sample of the study consists of 109 e- shoppers from South Delhi. Data analysis is done using SPSS software. The results of the study revealed that the financial risk and product risk significantly affect e-shoppers behavior and Delivery risk and time risk are the most important dimensions which affects almost all the demographic variables of e-shoppers except gender. The findings of the study have important practical implications for e-retailers, by understanding the relationship between consumer behavior towards online shopping and perceived risks e-retailers may be able to formulate strategies to make online shopping experience more secure.

Keywords: Consumer Behavior, Dimensions, Demographics, Online shopping, Perceived Risk.

PP. 59-71

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/59-71



Analysis of Working Capital Management of Indian FMCG Companies

Dr. Anjala Kalsie, Ashima Arora

Abstract:
Complimentary Article - Full Text PDF

The most significant function for any company and its corporate finance department is its Working Capital Management (WCM). A delicate balancing of net working capital is the requirement of WCM along with the maintenance of appropriate levels of profitability and liquidity. Correspondingly, the paper examines the WCM of well-known firms in FMCG industry of India. The study undertakes the comparative analysis and evaluation of working capital management through the employment of numerous parameters of Current Ratio, Payable Turnover, Receivable Turnover, Inventory Turnover, Cash Conversion Cycle, and Return on capital. The paper also investigates the impact of negative working capital on the relevant firm's profitability. The analysis was done on the data sourced from the annual reports and accompanying schedules of the company from FY 2010-2014. The companies examined were Nestlé India, Godrej Consumer Products Limited (GCPL), Dabur India, Hindustan Unilever Limited (HUL), and ITC Limited. The analysis found consistent performance of Nestle and HUL even with negative cash conversion cycle (CCC) and negative working capital. Interestingly, better returns on capital employed were found to be generated by companies with negative net working capital, maximizing their shareholder value that translated into higher EPS and market capitalization for them. Similarly, the profitability was also found to be better for companies which had negative CCC relative to those supporting positive CCC. Current ratio for all the companies emerged to be consistently lower than the standard norms. However, the study discourages the lower level of liquidity as maintained by the companies. Instead, in the long-run an appropriate balance between working capital needs and liquidity was suggested by the study.

Keywords: FMCG, Working Capital Management, Cash Conversion Cycle, Current Ratio.

PP. 72-86

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/72-86



Study on the Impact of various factors of eWOM and Visibility on Social Media for promoting Newly Released Movies

Aravind. T. S, Dr. Vinith Kumar Nair

Abstract:
Complimentary Article - Full Text PDF

In highly technological world individuals devote the implausible part of one's time on various cyber events such as either connecting with one another or searching for various pieces of information. There are different types of The social media, such as social networking sites (e.g. Facebook), micro blogging sites (e.g. Twitter), photo sharing sites (e.g. Instagram), and video sharing sites (e.g. YouTube) played not only an extensive influence in every individuals life but also has become an inevitable part of the day to day activity .The prevalent consumption of social media has made an influence on the way marketers design their marketing activities, particularly in the pre and post release promotion of new movies. In this paper the authors explained the influence of Electronic Word of Mouth (E-WOM) on favorability and visibility of Promotional content of a newly released Movie. The purpose of the Research was to give a better understanding of how E-WOM and Visibility can create impact on the promotion elements such as shared contents, source credibility, perceived usefulness of newly released Movie. The data, obtained from the sample population of ninety college students, from various professional institutions in Kerala, was analyzed through Simple Regression tool and was found that E-WOM can generate visibility as well as favorability to the promotional content of a newly released Movie.

Keywords: Electronic Word of Mouth (E-WOM), Favorability, Visibility, Social Sharing Network.

PP. 87-96

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/87-96



Analysing the Choice Behavior for Food Products : A Case Study of District Ambala (Haryana)

Dr. Kiran Mor,Ms. Savneet Sethia,Mr. Nardev Singh

Abstract:
Complimentary Article - Full Text PDF

The present study aims to investigate the important factors responsible for the consumer behavior of food items of Ambala District in Haryana state which is based on the consumption value theory. As per the data collection methodology used in it, it is a field study and the questionnaire validity and reliability has been measured by Cronbach's alpha and KMO test. It is descriptive study and the sample size chosen was 515 respondents. A multi variable regression i.e hypothesis testing was employed on the collected data in SPSS 19.0. The results prove that function, epistemic, and emotional values of consumers effects the selection of food products; on the other hand, the social and conditional values does not have any effect on the choice behaviour. Finally, based on the results, solutions have been provided.

Keywords: Food product, epistemic value, social value, functional value, conditional value, emotional value.

PP. 97-104

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i2/2016/97-104

Volume 14, Issue 1 (Click here to show/hide details)

Managing the Complaint Factors or Workplace Stress: A study on Effects of Stress among employees in ITES-BPO Organizations of NCR

Dr. Rupali Arora

Abstract:
Complimentary Article - Full Text PDF

In the 21st century business environment, stress has become a way of life-an accepted occupational hazard. As a result of external or internal pressures employees develop various symptoms of stress that can harm their job performance. If the stress is positive, the result may be more energetic, enthusiasm and motivation. Organizations should be aware of and accept that the problem of job stress exists; try to identify the problem; attempt to solve the problem and also find ways of coping with job stress. This article focuses on deriving the trouble/complaint factors and analyzing the extent of stress gender and marital status wise among the employees of the ITeS-BPO Companies.

Keywords: Job Stress, Burnout, Employee􀀵s vulnerability, Information and Communication Technology, call-floor executives, Stress-Tolerance potential.

PP. 01-09

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/01-09



Impact of Inflation and Exchange Rate on Stock Market Behaviour: Evidence from India

Dr. Anindita Chakraborty

Abstract:
Complimentary Article - Full Text PDF

The study investigates the effect of inflation rate and exchange rate on the performance of the Indian stock market using yearly data over the period from January 1991 to December 2014. By applying Augmented Dickey Fuller (ADF) unit root test, Granger Causality test, Johansen Cointegration test, and Vector Error Correction Model (VECM), the study found that inflation rate, exchange rate and market return were I (1). It mans that they are stationary at first difference. The study also revealed that there was causality run from exchange rate to stock market return but there was no long run relationship between inflation, exchange rate and stock market return. This shows that investors must critically evaluate the investment scenario before investing because inflation and exchange rate risk are part of systematic risk which cannot be controlled by them. Therefore, for better results investors must follow some active strategy.

Keywords: Inflation rate, Exchange rate, Unit Root test, Granger Causality test, Cointegration test and Vector Error Correction Model.

PP. 10-19

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/10-19



A Study on the Impact of Secondary Market Bench Mark on Mutual Fund Industry

Dr. A Kotishwar

Abstract:
Complimentary Article - Full Text PDF

Indian mutual fund industry is celebrated golden jubilee year in 2014. Indian stock market performance is measured on par with the global market in spite of less contribution by the Indian investors. The growth of Indian market is mainly contributed by the Indian mutual funds. In this study, it has been examined how benchmarks of equity and debt market impacting the number of schemes and asset under management in India by considering 15 years period that is 2000-2014. Granger causality test has been applied on Johansson co-integration data between benchmarks and the number of schemes and the result unveils that equity schemes were considered by the benchmark, but debt market schemes are not caused by the composite bond index. Regression weight estimation has been applied to measure the influence of benchmark on asset under management and the analysis proved that both the segment under were influenced. By the benchmark fluctuations this study is useful to the investors of mutual funds in India to take inform decision from the investment angle in both segments.

Keywords: Secondary Market, Mutual Fund Industry, Equity, Debt, Bench Mark.

PP. 20-25

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/20-25



Wholesale Price Index as a measure of Inflation with special reference to basic commodities

Dr. Preeti Sharma

Abstract:
Complimentary Article - Full Text PDF

In current scenario inflation has become a very unpopular happening in an economy. Opinion survey conducted in India, the U.S.A. and other countries of the world reveal that inflation is the most important concern of the people as it adversely affects the standard of living of the people. Inflation may be termed as persistently rising prices in an economy. A high rate of inflation is responsible for making the life of the poor very miserable therefore it is described as anti-poor. So the current study focuses on the rate of inflation in India. The paper compares the rate of inflation of basic commodities (Wheat, MILK, LPG, Petrol, and Electricity in domestic consumption) to WPI index. The paper emphasizes that the inflation shown by WPI index talks about 636 commodities which may not present the real picture of inflation in case of basic commodities. Since the high rate of inflation (on basic commodities) may be traded off by the low rate of inflation on other commodities. If the rate of inflation is anticipated correctly, the people take steps to make suitable adjustments to avoid the adverse effects of inflation.

Keywords: Wholesale Price Index, Inflation, Consumer Price Index, Economic growth.

PP. 26-31

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/26-31



Trade and Income Distribution: A Study of Latin American & Asian Developing Economies

Rashmi Ahuja

Abstract:
Complimentary Article - Full Text PDF

The changes in income inequality have been observed in developing economies which are rapidly opening up to international trade and foreign capital inflows in the past few decades. This paper examines the impact of increased trade openness on within-country income inequality in Latin American and Asian developing economies over the period 2000-2012.The analysis finds the experience of Latin American developing economies different from that of Asian developing economies. Not only increased trade openness but also stronger economic growth and education contribute to declining income inequality in Latin American developing economies over the period 2000-2012. However, in Asian developing economies, the income inequality increases with increased trade openness up to certain point and after that it starts declining. The findings also suggest that the impact of trade on inequality in Asian developing economies depends on the level of education in these economies. The analysis also finds that the impact of trade and foreign capital inflows on income inequality is different in developing economies within the two sub-regions in Latin America.

Keywords: Trade and Income, Foreign Capital Inflows, Trade openness, Developing Countries.

PP. 32-38

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/32-38



Purchase Behavior of Consumers- A Study of Demographic Differences in the Purchase of Apparel

Ms. Geetu Tuteja, Mr. Suraj Nathani, Ms. Ruchika Gupta

Abstract:
Complimentary Article - Full Text PDF

Apparel reflects the way people treat themselves and reflects the society and culture they belong. To shape the living standard of people Apparel plays an important role. It is one of the products that frequently get affected by the change in trends. In today’s world, it not only serves the purpose of keeping the body warm but also serves as a fashionable item. This paper examines the consumer apparel buying behavior for which the survey was conducted in Delhi among 215 respondents which resulted in 10 factors (cost, need, brand, fun, color, esteem, accessories, trend, shopping place, interpersonal communication) that has an impact on some of the demography factors. Factors like fun, need and shopping place has a significant impact on age whereas no factor other than fun has an impact on gender. The study concluded that in all the four demography, youths are the ones who are more concerned about their looks and appearances. They are mostly affected by the product and brand promotion and buy according to the prevailing brand. Thus, this will help the marketer to better understand consumer apparel buying behavior and make better marketing strategies accordingly.

Keywords: Apparel, Consumer Behavior, Demography, Fashion, Purchase Behavior.

PP. 39-56

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/39-56



Analysis of Deposits and Advances: Public Sector Commercial Banks in India

Ashish Gupta, Dr.V. S. Sundram

Abstract:
Complimentary Article - Full Text PDF

Bank is the one of the major stream in Indian financial system. The primary function of banks are lending and borrowing the money to needy group of people. Public sector banks have captured most of the part of share in Indian economy in comparisons to Pvt.SBs but PSBs have not performed/executed their primary function (Advances and Deposits) in appropriate tactic, due to this advances and deposits consistently shown the fluctuating and decline trends and performed rather poorly over the last few decades. In this context the present paper attempts to study the deposits and advances generated by PSBs banks during a period of 10 year from 2005-2006 to 2014-2015. There are eight variables have been selected for the study. This study is primary based on secondary data and Kruskal –Wallis Test has been used to know the significant difference in the growth rates of deposit and advances of selected PSBs in India. The result shows that the growth rate of selected variables have less growth in all over the years on selected variable have been taken for the study.

Keywords: Public Sector Banks, Term Deposit, Saving Bank Deposits, Priority Sector.

PP. 57-66

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/57-66



Entrepreneurial Orientation of Students: A Comparative Analysis of Management and Engineering

Chirag Malik, Ekta Rao

Abstract:
Complimentary Article - Full Text PDF

Purpose: To study the entrepreneurial orientation of MBA and Engineering students of Dehradun region through measuring their entrepreneurial intention.
Design/Methodology/Approach: For meeting the objective of the research, descriptive research method was used. A survey was administered to the students of 4 different MBA and Engineering colleges of Dehradun, yielding a total sample of 100 students.
Findings: The t-test indicates that there is difference between entrepreneurial intentions of MBA and engineering students wherein the MBA students are more oriented towards starting their own enterprise than engineering students.
Research limitations and further scope: This research is being done in order to find out the difference in entrepreneurial intentions of MBA and engineering students, however, this study remains silent on the factors influencing the differences. A further research can be undertaken so as to find out the factors explaining the differences and antecedents of formation of entrepreneurial orientation among higher education students.
Practical Implications: The outcome of this research may help the policy makers and educators who formulate, deliver and evaluate education policy.
Originality: This paper is a pioneer work on the study of entrepreneurial intention of higher education students of Dehradun region.

Keywords: Entrepreneurial intention, MBA, Engineering, students.

PP. 67-76

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v14/i1/2016/67-76

Volume 13, Issue 2 (Click here to show/hide details)

Quality of Work Life: A Comparative Study of Public Sector Banks and Private Sector Banks

Dr. Ajay Suneja, Swati

Abstract:
Complimentary Article - Full Text PDF

The Quality of Work Life (QWL) has become important for the commercial organisations due to advancements in technology, increase in the level of competition globally and emergence of services sector in almost all parts of the world. The QWL has become the dominant concern for the service organisations as employees play a vital role in service creation and delivery. The QWL refers to favourableness and unfavourableness of a job environment for people. The basic purpose is to develop jobs that are excellent for people as well as for production. The QWL provides a number of ways to bring down stress levels, reduce absenteeism, increase the job satisfaction and enhance the productivity of employees. The present study has been conducted to find out the perception of employees working in public sector banks and private sector banks regarding various dimensions of quality of work life. The study covers the employees working in public sector banks and private sector banks in Haryana. Stratified Random Sampling has been used for the study. The findings of the study suggest that private sector banks should ensure ‘job security’ to their employees. On the other hand, public sector banks need to reduce the work burden of their employees by making appointments of more employees therein.

Keywords: Quality of Work Life, Public Sector Banks, Private Sector Banks, Employees.

PP. 01-06

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/01-06



Indo – ASEAN Free Trade Agreement - Analysing Impact using Balassa Index

Sangeeta Mehrolia

Abstract:
Complimentary Article - Full Text PDF

The historic signing of Indo-ASEAN Free Trade Agreement begins the new epoch in the evolution of the relationship between India and the Association of South East Asian Nations. Although the partnership between India and ASEAN only began to warm up about a decade ago, it has been moving at quite a rapid pace since then. The relationship got more strengthened in 2003 when the first proposal for free trade was put up by the ASEAN nations before India. The proposal was thought about and worked over by both the nations for a good time of 6 years and finally the India-ASEAN Free Trade Agreement (FTA) was signed on 13 August, 2009 at Bangkok. Main objective of this paper is to analyze the impact of Indo- ASEAN Free trade Agreement in goods on Indian Exports. To achieve this objective, Pre and post agreement data analysis will be done using Balassa Index. Balassa Index is revealed comparative advantage index. Revealed comparative advantage Index will be calculated Sector wise and chapter wise. Data from 2003 to 2013 for the study will be taken from COMTRADE and World Bank. Other objective of the paper is to study the potential market for India and to achieve this objective, Balassa Index will be calculated for each county with 2013 data and potential market will be identified. Potential product segment is also identified by calculating Balassa Index Sector wise.

Keywords: Revealed Comparative Advantage. Balassa Index, Competitive Advantage. ASEAN Countries .

PP. 07-17

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/07-17



Impact of Blended Learning on Personal Effectiveness Factor of Managerial Effectiveness

Prof. (Dr.) Tusshar Mahajan, Prof. (Dr.) Sourabhi Chaturvedi

Abstract:
Complimentary Article - Full Text PDF

There is a significant effect of Information Technology (IT) on business processes. Various IT tools help managers to perform managerial activities in better way. Due to this fact business organizations are implementing innovative techniques and ways of working. It requires continuous learning and training. For this purpose various organizations are using Blended Learning approach which combines traditional and online learning. The study examined impact of blended learning on personal effectiveness factor of managerial effectiveness through standardized managerial effectiveness scale, with reference to managers of Banking and Information Technology (IT) Sectors. Personal effectiveness refers to the individual effectiveness in which a person knows what he wants to do and accordingly works hard to achieve the target. The study interpreted that managers working in Banking Sector having experience less than or equal to five years are more effective than IT managers having same experience, in terms of Impact of Blended Learning on Personal Effectiveness Factor of Managerial Effectiveness.

Keywords: Information Technology, Blended learning, Managerial Effectiveness, Personal Effectiveness Factor.

PP. 18-27

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/18-27



Impact of Service Quality Dimensions on Customer Satisfaction with Reference to E – Banking Services

Dr. Manish Madan, Ms. Esha Jain

Abstract:
Complimentary Article - Full Text PDF

Aim of Study: The aim of the study is basically to explore the service quality dimensions that affect satisfaction of customers in E - banking and also this study aims to investigate the relationship between the service quality dimensions with that of customer satisfaction, brand perception and perceived value of the customers using E – banking services in Delhi and NCR.
Scope of the Study: This study investigates the service quality dimensions which affect the satisfaction of customers, brand perception and perceived value of customers using E – banking services in Delhi and NCR.
Objectives: The broad objectives of study are to explore the various E – banking services offered by private banks in Delhi and NCR, to establish a relationship between the service quality dimensions with that of the satisfaction of customers, brand perception and perceived value of customers.
Research Methodology: The study is exploratory in nature. A systemized and organized study was done to reach the desired objectives of the study. The responses obtained from the respondents i.e. customers using e – banking services in Delhi and NCR and data was analyzed using various statistical techniques. This study is restricted to e - banking service users. The importance of this study is that it focuses on identifying the various factors affecting the overall satisfaction of customers using e - banking services in Delhi and NCR. Here in this study various independent variables are customer satisfaction, Brand Perception and perceived value whereas service quality dimensions are dependent variables.

Keywords: Brand Perception, Customer Satisfaction, E – banking, and Perceived Value.

PP. 28-39

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/28-39



A Competency Model for Supply Chain Management Professional in the new Era

Namita Gupta, Mridul Dharwal, Dr Daleep Parimoo

Abstract:
Complimentary Article - Full Text PDF

Objective – This research studies the impact of Professionalism and Competence for Supply Chain Management in the Capital Goods industry for low cost country like India. The authors have extensively researched the literature and interviewed the professionals from companies with local set-ups as well as leading players worldwide such as GE, BHEL, Alstom, Dresser-Rand, DOOSAN.
Methodology – This is an exploratory study using qualitative research methods. This study aimed at developing a preliminary competence profile for supply chain management professionals, by identifying competency elements based on literature findings. Then the study further aimed at validating & improving the literature review based SCM professionals profile through the use of probing question methods & getting it confirmed from various focus groups in the target organizations. This finally resulted in a validated industry specific competence profile & Competency Map document that can be used to map SCM professionals in various roles.
Findings – The supply chain management concept has grown and matured over the last decade due to globalization and has infused varied competencies across this industry as it will continue to evolve in the similar business model diverging across the globe. The emerging critical competencies change as per the roles, for initial level roles focus is on the technical skills such as engineering calculations, manufacturing site operations, contract management, inventory management, competence of meeting global norms and compliances but under a process of time it gives place to the behavioral skills like customer focus, analytical abilities, conflict resolution, excellent communication skills, business acumen, finance and commercial negotiating skills etc for the higher level roles.
Future Scope - The research can be extended to larger number of companies in Capital goods industry or further comparative analysis can be conducted for the supply chain management professionals in different industries or at different location of the world.
Limitation - The research is limited to the five organisations in India only hence the identified set of critical competencies of Supply chain professionals cannot be considered to be universally justified. It may vary due to organization specificity, country etc.

Keywords: Competency, Supply Chain Management, Capital Goods, Manufacturing industry.

PP. 40-50

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/40-50



Service versus Relationship: An Investigation into Quality Dimensions for Loyalty and WOM in Online Retail

Garima Gupta

Abstract:
Complimentary Article - Full Text PDF

In today’s competitive environment, firms are increasingly adopting online retail as a major channel to connect with their target base of customers. Due to lack of human interaction in the virtual space, store service quality and relationship quality assume a significant role in winning shoppers’ positive response and patronage. It is in this context that the present study identifies and examines the dimensional impact of these quality constructs in influencing shoppers’ loyalty and word-of-mouth behaviour. Using survey method, primary responses were collected from 189 online shoppers and statistical techniques such as factor analysis and regression analysis were applied to test the hypothesized relationships of the model proposed in the present work. In addition to the direct impact, the results support the presence of positive interaction between e-store service quality and e-relationship quality dimensions in affecting shoppers’ loyalty and word-of-mouth. The insights provided in the present work can be used by stores to garner a more favourable response and loyalty of online shoppers in future.

Keywords: Online Retail Store, E-Store Service Quality, E-Relationship Quality.

PP. 51-60

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/51-60



Merger and Acquisitions in Indian Banking Sector in Post Liberalization Period : A Study of Selected Banks

Nidhi Tanwar, Dr. Subhash Chand

Abstract:
Complimentary Article - Full Text PDF

The banking industry is one of the rapidly growing industries in India. It has transformed itself from a sluggish business entity to a dynamic industry. The growth rate in this sector is remarkable and it has become the most preferred banking destinations for international investors. A relatively new dimension in the Indian banking industry has accelerated through mergers and acquisitions. The present paper evaluates the performance of selected merged banks before and after the merger covering the period from 2006 -2010 with the help of Camel Parameters. It has been found that banks performed differently regarding different parameters of Camel Model. Further, it is revealed that banks have been positively affected by the event of merger.

Keywords: Merger and Acquisitions, Camel Parameters, Banking Industry.

PP. 61-74

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/61-74



Investment Decision and Financial Feasibility in Solar Energy Sector in India

Dr. Anjala Kalsie, Jappanjyot Kaur Kalra

Abstract:
Complimentary Article - Full Text PDF

Solar energy is becoming an important source of energy all over the World and especially in India. Very few solar plants have been installed in India so far, and therefore no historical experience are available. The objective of this paper is to investigate the Investment Decision and financial feasibility of solar power plants in India. The analysis is carried out on the basis of Financial Parameters based on CERC Generic Tariff Model. The paper concludes that power purchase costs constitute the largest cost element. In the paper the sensitivity analyses on various key parameters like capacity utilization factor, Capital cost, interest rate and return on equity and depreciation was also performed both in Solar Thermal and Solar PV power plants.

Keywords: Solar Energy, Solar Thermal Power Projects Parameters, Solar PV Power Projects Parameters, Financial feasibility.

PP. 75-93

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i2/2015/75-93

Volume 13, Issue 1 (Click here to show/hide details)

Trends in Indo - Brics Trade

Dr. Rajender Kumar, Ms. Vandana Sehgal Arora

Abstract:
Complimentary Article - Full Text PDF

In recent years, trade and investment between BRICS economies are growing. The growing trade suggests a promising future for trade cooperation. This paper studies the share of other BRICS countries in total Exports and Imports of India with a focus on trends in India’s trade with other BRICS countries for the period 1991 to 2013. The analysis in this paper is based on secondary data. The results of the study affirm increased share of other BRICS countries in India’s total trade. The BRICS’s share in India’s trade has increased significantly over the last two decades, with the primary contribution coming from China. South Africa is also emerging as a significant trade partner of India in BRICS group. As an import partner, Brazil and Russia are less important to India. The first decade of study period is characterized by relatively low growth of India’s trade from other BRICS countries; it is only during the second decade that India’s trade with other BRICS countries gained a momentum.

Keywords: India, Foreign Trade, BRICS, Trends JEL Classification: F10, F14, F15.

PP. 01-07

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/01-07



Exploratory Tendencies Towards Shampoo – A Study of Demographic Differences

Dr. Kiran Mor, Ms. Geetu Sapra

Abstract:
Complimentary Article - Full Text PDF

The importance of measuring exploratory tendencies of consumers is growing since mid – 1950s. It is the need of the hour that theories and models of consumer behavior and consumer research developed in the context of western culture be validated and examined in the non western, emerging economies as well. This paper discusses the role of demographic differences in consumer exploratory tendencies with respect to shampoo in India – one of the important ECMs with a lot of challenges present. Data were collected from 923 respondents of Delhi and the findings suggested that except educational level, all the other factors such as age, gender, marital status, income and occupation have some effect on the consumer buying behavior tendencies thus making it very important for the marketers to have a knowledge of the same to position their products accordingly. Younger individuals exhibit a higher level of innovative behavior than their elders and the same is the case with brand switching and information seeking.

Keywords: Exploratory Tendencies, Optimum Stimulation Level, Shampoo, Exploratory Factor Analysis.

PP. 08-20

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/8-20



Consumer Behavior in Purchasing New Cars: An Empirical Study in Delhi/ NCR

Ms. Priyanka Garg

Abstract:
Complimentary Article - Full Text PDF

The automotive industry in India is one of the larger markets in the world and had previously been one of the fastest growing globally, but is now seeing flat or negative growth rates. India’s passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011. The research is conducted for better understanding of the relationship between the customer satisfaction, brand image and information from mass media towards the Purchase evaluation at various stages of purchase decision. It is found that there are many personal and social factors that affect the purchasing decision. And purchase is influenced by the various kind of information available at the time of search and evaluation of alternatives.

Keywords: Passenger cars, SUVs, Buying Behaviour

PP. 21-33

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/21-33



Work- Life Loyalties: A New Outlook for Dual Career Couples

Ms. Roma Jaitly, Ms. Tanvi Rana, Ms. Ruchika Sharma

Abstract:
Complimentary Article - Full Text PDF

In today’s competitive world, where males and females are considered to be equally responsible and proficient enough to take up the challenges at their respective workplaces, it is inevitable for them to surpass their traditional family roles. The increasing level of education and awareness has enhanced the career aspirations among females in India. It has resulted into the pursuance of simultaneous careers by both the partners. Dual career couples are those couples where both the partners pursue their respective careers and at the same time manage their personal life. This study tries to explore the issues and dilemma encountered by dual career couples while managing their professional and personal life. In the light of literature review, various parameters such as career transitions, role conflict, work life balance, role overload, spousal rivalry etc. have also been considered under this study. The different statistical tools and tests such as ANOVA, t-test etc. have been employed and on the basis of the findings, recommendations/ suggestions have been proposed.

Keywords: Dual Career Couple, Career Transitions, job stressors, family stressors, role ambiguity and conflict, Role Overload, Role Conflict, Work Life Balance, Spousal Roles.

PP. 34-41

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/34-41



An Empirical Study on Assessing Quality of Health - Care Services Offered by Private Hospitals Using Servqual Model

Dr. Manish Madan, Mr. Nitin Goel

Abstract:
Complimentary Article - Full Text PDF

Purpose: There has been a slow but sure shift in the way health care delivery is being perceived, by both providers and patients. Patients are demanding better quality of health care delivery both for the in-patient services, outpatient services or even preventive care. Health care is a rapidly growing sector which has gained much attention from researchers and practitioners worldwide. Due to tremendously increasing cost, many hospitals attempt to adopt quality initiatives such as lean and/or Six Sigma to improve their service operations. Implementing such process improvement efficiently and effectively would ultimately help in delivering the highest value to customers. Many studies add that in addition to its positive implications on patient retention and loyalty, patient satisfaction influences the rate of patient compliance with physician advice and the healing process of patients.
Design/Methodology/Approach: Descriptive research has been applied, describes data and characteristics about the population or phenomenon being studied. The researchers have used primary data through self-constructed structured Questionnaire and as far as the secondary data is concerned that was obtained from web sites, journals etc. Structured questionnaire was constructed to interview the patients admitted in different private hospitals on 23 different parameters on Likert’s five point scale, which was later reduced to five factors by using the statistical technique of factor analysis.
Findings: It is found that various statements like Physical Facilities are visually appealing, Appearance of doctors and staff of hospital are neat and professional, Obtain feedback and keep the patients informed and Staff and doctors of hospital understand the specific needs of the patients were found to be significant.
Research Limitations/Implications: The study focuses on general problems faced by patients in the private hospitals. There might be certain more variables as one patient is satisfied on particular aspect but another may not on that particular aspect.

Keywords: Patients Satisfaction, Satisfaction of Patients in Private Hospitals, Condition of Private Hospitals.

PP. 42-54

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/42-54



Analysis of Acquisition Premiums for Outbound M&A’s by Indian Companies

Dr. Anjala Kalsie

Abstract:
Complimentary Article - Full Text PDF

This project explores the some of the costliest outbound M&A’s by Indian Companies. The aim of the study is value the acquisition premiums and comment if they were overpriced or not. If overpriced then reasons were found out for the high acquisition premiums. Four deals namely Tata – Corus deal, Hindalco – Novelis deal, Tata Motors – JLR deal and Dr. Reddy Laboratories – Betapharm deal were analyzed and were valued again to determine a suitable acquisition premium. The methodology that was followed was DCF which involved estimating the Free Cashflows and discounting them to get to the Enterprise Value of the firm.

Keywords: M&A’s, DCF, Acquisition Pemium, Free Cash-flows, Enterprise Value.

PP. 55-63

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/55-63



Attrition: Exploring Dimensions of Employee Attrition in the IT Industry

Dr. Kranti Walia, Surabhi Soodan

Abstract:
Complimentary Article - Full Text PDF

Attrition is acting as biggest challenge in IT industry. This study explores the major factors responsible for determining the attrition in IT industry with special reference to NCR region. It also examines the effects of demographics of the respondent on attrition. A self administered questionnaire was used in this study to collect data on the sampling population. Descriptive analysis, factor analysis, one-way ANOVA, Post-Hoc test, Welch test and independent sample t-test were used to test the hypothesized propositions. The results showed that there are seven major factors that are responsible for employee attrition in IT industry viz. policy, satisfaction, performance, development, growth, relation and employment. Present study revealed that attrition variables are affected by demographics of the respondents.

Keywords: Attrition, IT industry, satisfaction.

PP. 64-71

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/64-71



A Study on Employee Passion, Work Environment, Social Support and HR Practices: A Case Study of Employee State Insurance Corporation Ltd.

Rajesh S Pyngavil

Abstract:
Complimentary Article - Full Text PDF

Passion, in its general sense, is defined as a strong inclination towards an activity that people like and find important. Passionate employees are focused, engaged and committed to doing their best in everything they do. With the changing need of the time it has become necessary for the organisations to revise the HR practices to retain the talent in the organisation. The study focuses on identifying the level of passion in the employees of public sector. This study intends to test and validate different variables like workplace environment, HR practices and social support and find out whether they have significant relationship with employee passion at work or not. The study has been conducted in Employee’s State Insurance Corporation, New Delhi. Different set of questionnaire were prepared to derive the opinion of the respondents about the various aspects related to their job such as work place environment, social support and HR practices in the organisation. In the study it has been observed that workplace environment and social support has a very great impact on employee passion. However HR practices do not dominate the passion level of employees as the ESIC follow the traditional HR practices. The study sheds light on the inter-relationship between workplace environment and social support, workplace environment and employee passion, Workplace environment and HR Practices. Workplace environment on one side impacts the motivation as well as the performance level of the employees while social support instils self-efficacy in the employees.

Keywords: Employee Passion, Work Environment, Social Support, HR Practices, Self Efficacy.

PP. 72-79

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v13/i1/2015/72-79

Volume 12, Issue 2 (Click here to show/hide details)

Impact of Key Macroeconomic Variables on Indian Stock Index

Dr. Anjala Kalsie

Abstract:
Complimentary Article - Full Text PDF

The objective of this paper is to understand the impact of key macroeconomic variables on Indian stock indices namely Nifty. The analysis has been carried out based on the monthly time series data for the period January 2009 (post US subprime crisis) to December 2013. The research model is based on the Multiple Linear Regression technique using Principal Component analysis, correlation matrix, ADF test. FII investments in equity, purchasing manger index, and oil price positively impact Nifty in a significant way. There is a relatively smaller positive impact of IIP on the Nifty. On the other hand exchange rate, gold price, inflation rate and Call money rate have a negative impact on the Nifty.

Keywords: Macro Economic Variables, NIFTY, Multiple Regression, Principal Component Analysis, ADF Unit Root Test.

PP. 01-11

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/01-11



Retirement Life Insurance Solutions and its Implications: An Empirical study

Rashmi Saxena, Neeraj Saxena, Priyanka Garg

Abstract:
Complimentary Article - Full Text PDF

Life insurance as a product is always one of the toughest to sell. Though one can argue about its benefits in the long term, in this modern materialistic world, customers are getting very cautious about their investments and the returns out of it. In this study, an attempt was made to make the customers aware of various aspects of a life insurance product and their respective opinions regarding the policy. Various demographic characteristics of the policyholders e.g. age, gender, income, education, occupation etc. and their impact on the customers' perceptions regarding the product were explored. The various aspects involved in a life insurance product as per their importance to the policy holders can be outlined as: A tax saving plan; a saving scheme with good return; financial security for the family; Risk coverage; Save for green patch (Pension), to cover the risk of living too long ; and, to make black money into white. The study focused on two life insurers: LIC and HDFC Life Insurance operating in Delhi. A sample size of 215 life insurance customers was planned. The data was collected through primary sources through a structured questionnaire. Data was analyzed using SPSS17.0 and MS Excel- 2007. ANOVA and t-Test were used to examine the differences among various groups of respondents. Though the study was handicapped by limited sample size (both geographical as well as periodical), it can be amplified as per the national scenario with some specific modifications. This study will help the insurance companies and the regulator developing a better life insurance product.

Keywords: Investment, LIC, Life Insurance, Delhi.

PP. 12-21

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/12-21



Methods and Techniques to help Quality Function Deployment (QFD)

Dr. Munish Kumar Tiwari

Abstract:
Complimentary Article - Full Text PDF

Quality function deployment (QFD) is a management tool that provides a visual connective process to help teams focus on the needs of the customers throughout the total development cycle of a product or process. It provides the means for translating customer needs into appropriate technical requirements for each stage of a product/process-development life-cycle. It helps to develop more customer-oriented, higher-quality products. While the structure provided by QFD can be significantly beneficial, it is not a simple tool to use. This article outlines how techniques such as fuzzy logic, artificial neural networks, and the Taguchi method can be combined with QFD to resolve some of its drawbacks, and proposes a synergy between QFD and the three methods and techniques reviewed.

Keywords: Fuzzy logic, House of quality, neural networks, Quality function deployment, Taguchi methods.

PP. 22-41

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/22-41



Linking Environmental Attitude with Green Purchasing Behavior

Ms. Nitika Sharma, Dr. C S Sharma

Abstract:
Complimentary Article - Full Text PDF

The present study examines the convergence between environmental attitude and green purchasing behavior. The study examines the impact of environmental attitude on General Pro Environmental behavior on one hand and green purchasing intensions on the other. In present we studied the seven variables of environmental attitudes related to respondents' concern for pollution, recycle packaging, switching of products, donation of one day pay and adulterations in products. In this paper a questionnaire is administered with a sample of 171 respondents in Delhi & NCR, to study the effects of environmental attitude on the green consumers. To examine the questionnaire regression analysis was run and checked a = 0.05 significance level.

Keywords: General Pro Environmental, Environmental attitude, Green Purchasing, Green Consumers.

PP. 42-47

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/42-47



Pricing Strategy & its Impact on Performance of HPCL

Richa Goel, Ms. Neetu Chadha

Abstract:
Complimentary Article - Full Text PDF

Two major petroleum products, petrol and diesel are widely used all over the world. If their pricing is let free on the mechanism of market forces then they will reach to an unaffordable height. This paper deals with pricing scenario in Indian oil Industry starting from administered price mechanism (APM) then by dismantling of this method and then moving towards market determined price mechanism and then later reverting back to import parity pricing for controlled products. To ensure that socio-economic benefits accrue to general public, public sector enterprises provide petrol, diesel, kerosene and domestic LPG products at subsidized rates which become a major reason for loss incurred by PSUs like Hindustan Petroleum Corporation Limited (HPCL). Therefore this paper analyzes the relation between cost, price, profit and explore the shortest route for delivery of petroleum products for cost reduction.

Keywords: Pricing policy, Petroleum products, Short route, Profit, Cost, Performance, HPCL.

PP. 48-54

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/48-54



Destination Marketing in Indian Tourism Industry

Rahul Verma

Abstract:
Complimentary Article - Full Text PDF

Most tourism activities take place at destinations. Not surprisingly then, destinations have emerged as 'the fundamental unit of analysis in tourism'. Travellers are now spoilt for choice of destinations, which must compete for attention in markets cluttered with the messages of substitute products as well as rival places. Destination marketers are concerned with the selling of places, a field of study that has only recently attracted significant research attention. For a number of years in the past, the emphasis has been on marketing India as a cultural destination with rich and diverse religious history and many pilgrimage attractions. In the present scenario, there is a need to diversify the tourism product and lay more emphasis on projecting India as a modern country for a comfortable holiday with a choice of beaches, historical attractions.
PP. 55-62

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/55-62



CSR and Management Studies: An Exploratory Research on Creating Student's Attitude Positive for CSR.

Sanjoy Roy, Dr. Ashutosh Gaur, Bharat Kaushik

Abstract:
Complimentary Article - Full Text PDF

We as a human being trying to make our life comfortable and in this process we actually made our life complicated. Industrialist and Corporate Houses are running there units, business and shops etc. without have a thought on the impact on the society and environment. Management Institutes are most affected by technological changes, but seems to be less sensitive to social accountability (Raghunandan T: Strategy A Pedagogy for Efficient, Accountable and socially Responsive Higher Education) and Students of Management and Accounting who studied ethics are proved to be more ethical in their intention than those who have not studied. Therefore, we should educate the concept of CSR to our upcoming managers i.e. our students of Management Studies. The purpose of this paper is to study the efficiency of the various institutes in creating an attitude of the student towards Corporate Social responsibility.

Keywords: CSR (Corporate social responsibility), Higher Education, Effectiveness

PP. 63-70

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/63-70



A Study on Rural Outstrech for FMCG Companies – in Reference to HUL & ITC

Dr Divya Gupta Chowdhry, Dr.Rakhi Gupta,Dr.Shiv Nath Prasad Gupta

Abstract:
Complimentary Article - Full Text PDF

The rural Indian population is large and its growth rate is also high. Over 70% India’s one billion plus population lives in around 627,000 villages in rural areas. .Being large no of people living in villages there is impulsive market opportunity, potential for FMCG (Fast Moving Consumer Goods) sector to grow ,even a slight change or increase in rural income can bring about mind-blowing increase in buying power of rural people. Over viewing the current position of FMCG as compared to past years the sector of FMCG in India has been annually growing at a consistent rate of 11%. Currently, 66% of total FMCG consumption comes from urban India and 34% from rural India reflecting saturation in urban markets and move of FMCG companies towards tapping the rural markets. Increasing demand of FMCG product and increasing purchasing power of rural Indians, speaks volumes about the growth prospects of the FMCG sector in India. The FMCG producers now realize that there is a lot of opportunity for them to enter into the rural market. This paper covers a detailed review of rural markets environment, the attractions for the FMCG marketers to go rural, challenges, rural myths, future growth prospects, suitable marketing strategy with the suitable example of HUL and ITC and their experience in going rural.

Keywords: Rural India, Rural Marketing, FMCG sector, rural myths, marketing strategy.

PP. 71-78

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/71-78



Vedanta Resources PLC. A Case Study on Lack of Focus on Social Issues & its aftermath at Lanjigarh, Orissa

Alka Sanjeev

Abstract:
Complimentary Article - Full Text PDF

With the rapid pace of globalization, firms are increasingly buying and selling goods and services or investing funds across the globe. These multinational corporations are accountable for their actions that affect people, communities and environment where they operate. Any business that pursues its ends at the expense of the society in which it operates will find its success to be illusory and short-lived. This is a situation case wherein the firm Vedanta Resources Plc has had to contend with the tribal community's backlash owing to their lackadaisical approach towards fulfilling their social obligations. Vedanta's neglect of ethical and social concerns proved detrimental to their operations in the long run with the Apex Court's intervention which held the communities interest to be of prime importance.
PP. 79-85

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/79-85



Developing the Competency Framework for Manufacturing Sector: A Case Study

Namita Gupta, Dr Neeti Rana

Abstract:
Complimentary Article - Full Text PDF

The expectations of the dynamic world is continuously exerting pressure on the organizational systems to go beyond the job description based employee performance which turns stagnant under a period of time. This leads to the development of competency based management system that matches well with the pace of change in the external & internal requirements. The proposed study aims at identifying the competency framework for the various divisions of operation unit. It throws light on the various managerial & functional competencies that play a major role in creation of superior performance. This results in the creation of individual road maps that provides the requisite reference to the individual & their department while assessing the individual with reference to various HR practices like training & Development, Performance Appraisal, Career Planning & Succession planning, Rewards & incentive Management.

Keywords: Competency Management, Manufacturing, Functional competencies.

PP. 86-102

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i2/2014/86-102

Volume 12, Issue 1 (Click here to show/hide details)

Stock Market Linkages: BRIC and US Its implications for International Portfolio Diversification

Dr. Anjala Kalsie

Abstract:
Complimentary Article - Full Text PDF

With the rapid growth in emerging economies especially BRIC nations, many investors would certainly consider investing in these markets rather than in the advanced or developed markets. However, the question of whether these markets are integrated so that investing will provide the benefit of diversification is a major concern for investors. This leads one to investigate whether markets are interdependent? The aim of this study is to investigate the linkages between BRIC nations and a developed economy like United States using econometric techniques.

Keywords: Stock Market Linkages, Stationary, Co-integration, Volatility Measure (GARCH Model).

PP. 01-13

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/01-13



Analysis and prediction of psychological and learning trends of students by using the data mining techniques

Namita Gupta, Mr. Bharat Gupta

Abstract:
Complimentary Article - Full Text PDF

In this paper, we apply the data mining techniques on the students to find their psychological and learning perspectives. This approach will provide the faculty with a road map to tailor various programs for the intellectual, technical and psychological development of the students. Using student’s data provides the university with the opportunity to make more informed strategic decisions. The challenge is of identifying useful information in vast student resources databases that will comprise not only of past and current academic performances but also the complex psychological attributes and learning behaviors. The information obtained by data mining on the behavior and potential of its students can be used towards enhancing the efficiency of students and thus enriching the teaching methodologies leading to increment in overall productivity. University that admits thousands of students and track their academic related information might find valuable information patterns contained within these databases to provide insights in such areas as performance enhancement, intellectual progress, psychological development and placements.

Keywords: Data mining, Psychological aspects, Learning trends, Education industry, Personality.

PP. 14-24

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/14-24



The Impact of Cost Effectiveness and Stress on Daily Passengers' Behaviour: A Case Study of 'Aligarh to Delhi' Daily Passengers

Matloob Ullah Khan, Mohd. Saleem, Dr. N. Ravichandran

Abstract:
Complimentary Article - Full Text PDF

The main Objectives of this case study are to analyse the impact of cost effectiveness and stress on daily passengers' behaviours. In this case study, we have provided empirical evidence on the basis of cost calculation tabulations which shows that daily travel from Aligarh to Delhi is more cost efficient than to stay in Delhi. This case study also analyses the impact of cost and stress on human behaviour which was also felt by the first author of this paper during his three year regular journey from Aligarh to Delhi as a daily passenger. We also tried to develop inverse relation between 'Quality of Life and Money Saving Concept' on the basis of cost analysis table, which gives core indication that the cost effectiveness plays a significant role in various aspects for human beings' life. The half of this case study is related to financial management-concept of cost effectiveness which is followed universally by every individual and organization and remaining part deals with the impact of cost on human behaviour.

Keywords: Behaviour, Cost and stress.

PP. 25-33

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/25-33



Marketing Practices Measurement Scale: A Study of Current Practices of General Insurance Companies

Neeru Gupta, Prof Usha Arora, Dr. Deepa Mangala

Abstract:
Complimentary Article - Full Text PDF

The purpose of the study is to examine the reliability and validity of the marketing practices measurement scale. The scale is developed by author on the basis of review of literature and consultation with marketing experts and senior academicians. The study involves 32 respondents, who were the top level regional/divisional managers of the general insurance companies. The respondents were required to respond on a five point likert scale composed of an escalating scale from strongly disagree to strongly agree. The collected data was analyzed using the SPSS 16.0 and AMOS 18.0 software packages. Firstly, cronbach’s alpha values and standardized regression weights are calculated to test the reliability and validity of data. After that mean rating values are determined to find the most important marketing practices in general insurance companies. The finding shows the acceptable constructs reliability and validity values.

Keywords: Standardized regression weights, validity, reliability, marketing practices measurement scale, mean rating values.

PP. 34-49

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/34-49



Assessing Organisational Commitment of Employees in Insurance Industry

Dr. Neelam Jain, Ms. Sugandh Rawal

Abstract:
Complimentary Article - Full Text PDF

The differential relationship between the day to day increasing employee turnover and exceeding profits in few industries highlights issues of organisational commitment. The organisations are continuously taking measures to bind their employees. The major reason is that the companies starting paying more to attract the employees from their competitive industry. Besides the pay package, career growth opportunities are considered, other major reason for the same. Around 79 percent of employers in Asia Pacific had problems in attracting critical-skill employees, while around 73 percent had difficulty in attracting high-potential employees, compared to global figures of 72 percent and 60 percent, respectively #. The changing commitment is a serious problem among Indian Insurance players. This purpose of this paper is to understand the difference in commitment level with respect to affective, calculative and normative commitment. The data is collected through self-administered questionnaire developed on the basis of three component model of organisational commitment (Allen, Meyer 1990). The employee were asked to answer 17 statements (affective commitment- 5 statements, Calculative commitment- 6 statements and normative commitment- 6 statements) on the 5 point scale from Strongly agree to Strongly disagree. The commitment level is found to be quite satisfactory as our result goes with previous studies.

Keywords: Commitment, Turnover, Organisation.

PP. 50-54

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/50-54



Impact of HRA on Productivity of Indian Industries: An Empirical Analysis

Mr. Dharmendra Kumar, Ms. Shalini Goyal, Ms. Surbhi Malhotra

Abstract:
Complimentary Article - Full Text PDF

The idea of human resource valuation and reporting existed for more than half a century. The concept continues to be debated by economic, accounting, and psychology theoreticians universally. The main thrust of accounting human resources is to identify, quantify and report investments made on human resources of an organization that are not presently accounted for under conventional accounting practice. This study critically assesses the concept of HRA in order to unveil its strengths and weaknesses during the era of recession. The study adopted uses secondary data collected through documented texts, journal articles, and other publications. Employees are the most important assets of an enterprise and its success or failure depends on their qualifications and performance. The current accounting system is not able to provide the actual value of employee capabilities and knowledge. This indirectly affects future investments of a company, as each year the cost on human resource development and recruitment increases. Human resource accounting is a direct part of the social accounting and aims to provide information on the evaluation of one of the most important components of the organization, namely human capital.

Keywords: HRA, Human Resource, Productivity.

PP. 56-61

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/56-61



Predicting Emotional Intelligence and Work Performance: A Financial Sector Study

Sonia Kamboj

Abstract:
Complimentary Article - Full Text PDF

Emotional intelligence and performance are closely related in today’s customer centric work place. A person with good interpersonal skills and a better understanding of perceptions and emotions of others is to be considered a better performer as compared to one is without these key elements of emotional intelligence. A number of studies emphasized that by imparting education and training to employees, their EI skills can be improved and also employees at managerial and supervisory level are more Emotionally Intelligent than their counterparts. The present study aims to determine the predictive power of emotional intelligence towards work performance in comparison of other demographic factors( Relevant job experience, Education, Organisational Hierarchy, Organisational Affiliation) and also to predict Emotional Intelligence with various Demographic factors by taking a sample of 150 employees from Financial Sector (Banks, Insurance Companies and Finance Companies). Results of Multiple Regression showed that Emotional Intelligence is a significant predictor of work performance as compared to other demographic factors whereas Relevant Job experience accounts for variance in the Level of Emotional intelligence of employees in a non-significant manner.

Keywords: Emotional Intelligence (EI), Work Performance, Financial Sector.

PP. 62-75

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/62-75



A Study to Find the Condition of E-tailing Over Retailing in Small Cities of India

Abhishek Kaushik, Dr. Shailendra Singh

Abstract:
Complimentary Article - Full Text PDF

This paper gives an insight of emergence of new tailing in marketing i.e. e-tailing and also compare e-tailing with re-tailing and highlights those factors which are responsible for popularity of e-tailing in small cities of India with special reference of western Uttar Pradesh (UP)'s city Mathura. It presents the habits of online shopping of Indian public to give the critical review on truth of various papers being published from time to time.

Keywords: E-tailing, Retailing.

PP. 76-83

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/76-83



Reorienting: Career to “Protean Career” in a Boundaryless World

Anshu Lochab

Abstract:
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Change has always been with us, but it seems that the pace of change is accelerating. The need for organisations to be lean and flexible in the current competitive environment has made it difficult for them to provide traditional job security to its employees. This has led to a change in the psychological contract. Employability is being considered a substitute for job security. Although references to the changing nature of management have pointed to rather substantial if not revolutionary transformations in both the content and process of managerial work, it is difficult to find shifts of comparable dimensions in the theoretical frameworks which are utilized to investigate and analyze managerial career patterns. This article describes an urgent need for interdisciplinary careers research in the emerging global knowledge economy.

Keywords: Organisations, competitive environment, psychological contract, employability, knowledge economy.

PP. 84-87

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/84-87



Consumer Skepticism (Does Consumer Believe on Advertisements?)

Amit Kumar, Rahul Verma

Abstract:
Complimentary Article - Full Text PDF

The most important function of advertisements is to persuade the target group in the market to make it more known and increase the sales. Advertisement researchers examine the skepticism structure as a factor that can prevent the audience from persuasion. In advertisement field, skepticism is defined in two different ways; as an inclination or as an attitude. In this study, skepticism is accepted as an inclination and this inclination is argued within the frame of tactics from structural factors of advertisement. The factors used in advertisement are separated into two as informative and emotional tactics. At the same time, there are advertisements that consist of both the informative and emotional tactics. The main problem this research is to search the impact of the tactics used in the ads on skepticism.

Keywords: Skepticism, Advertisement, Informative & emotional tactics.

PP. 88-96

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/88-96



Market Forces and the Changing Behaviour of Media Houses in Contemporary Scenario: An Analytical Study

Dr. Ajai Pal Sharma

Abstract:
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Freedom of Expression is one of the most precious of the rights given to the human being that has allowed man to exchange knowledge from one generation to another and has helped him learn from both success and failure for the progress and growth of mankind. Everyone in this universe has full freedom and power to express his happiness or show discontent with the status quo and demand for a change. The right to freedom of speech has been recognized as a human right under Article 19 of the UDHR (Universal Declaration of Human Rights) and recognized in international human rights law in the International Covenant on Civil and Political Rights (ICCPR). Media is considered as the fourth pillar of democracy but questions are being raised on media today that it is not showing what needs to be shown in the real form. There must be different types of pressures from different sections of the society which compels the media houses to speak their languages to survive in the competitive market. Journalism may claim that it is the voice of the nation but people don't believe as there are enough evidences that it is the mouthpiece of business houses. There are various newspapers or magazines which are owned by the corporate houses and speak their languages. So it can be said that in the contemporary environment media houses are under various pressures which compel them to write or speak which brings them more business. This paper is an attempt to find out various factors and reasons which has impacted the media houses in the contemporary times and changed their priorities.

Keywords: Discontent, UDHR, ICCPR, Contemporary, Pillar.

PP. 97-103

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v12/i1/2014/97-103

Volume 11, Issue 2 (Click here to show/hide details)

Investment Pattern of Salaried Employees with Reference to Coimbatore City

Dr. R.Ganapathi

Abstract:
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Investing today for the sake of a happy comfortable and worriless future is the order of the day. Investment had its indirect repercussions also. It augments the growth of economy and adds to the prosperity of the country. The purpose of the study is to create awareness among the salaried employees about the importance of the savings, investment and to help those who have idea of investment about the various types of investments. Coimbatore is the third largest city in Tamil Nadu State with a variety of salaried class people in various types of offices, so selection of it will be an ideal choice for the present study. Hence the researchers have chosen the respondents from the urban Coimbatore. In the present study the word ‘employees’ includes the government employees, the private sector employees and the retired people also. The study focuses on the various sources and the extent of income of the different groups of the salaried employees and on the attitude of the employees on the various investments they have at their disposal. The Chi-square test and analysis are used to evaluate the objectives of the study. The researchers have found out how for the association between the various factors like age, gender, educational qualification, marital status, type of family, size of the family, nature of employment, years of service and the like and the investment pattern is significant. Based on the various findings of the study the researchers have given useful and constructive suggestions.

Keywords: Savings, Investment, Investment Decisions, Factors influencing Investment Decisions, Salaried People.

PP. 01-16

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/01-16



Influence of Organizational Climate on Job Satisfication:A case study

Saloni Pahuja, Prof. Ramesh Chander, Sakshi Madaan,Priya Singh

Abstract:
Complimentary Article - Full Text PDF

In this competitive era it is difficult to retain star performer, so it is very imp for any organization to give a healthy organization climate. So that the employees can require competencies and can execute their roles effectively lending to greater job satisfaction. The paper aims to study the relationship between measures of organization climate and job satisfaction. More satisfied employees perform better and can act as a source of competitive advantage .The study uses primary data collected with the help of well structured questionnaire. Based on a case study of state bank of India from the employee’s perspective, an attempt has been made to analyse and determine relationship and impact of HRD climate on job satisfaction. The findings indicate that HRD Climate has a definite impact on job satisfaction that leads to the increased performance. And thus healthy climate and higher job satisfaction leads to more committed and competent employees.

Keywords: Organization Climate, Job Satisfaction, Competitive Advantage, Organizational Performance, CompetitiveEra,StarPerformer.

PP. 17-22

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/17-22



Emotional Intelligence: A Gender Wise Study of Indian IT Professionals with Special Reference to NCR, Pune and Bangaluru

Dr. Abhiruchi Singh Verma

Abstract:
Complimentary Article - Full Text PDF

The objective of present study was to investigate the relationship between gender and the Emotional Intelligence of Indian IT Professionals. The study was conducted across India in major IT cities such as NCR (NOIDA, DELHI and GURGAON), PUNE and BANGALURU. The study utilized a structured questionnaire based on emotional intelligence competencies as given by Daniel Goleman (1995, 1998) to assess emotional intelligence of respondents. A sample of 414 IT professionals was used for statistical analysis. Data analysis included frequencies, percentages, mean scores and independent sample t –tests. The statistical data were computed by SPSS 16.0. The findings in this research study support the existence of a relationship between gender and emotional intelligence. Difference in EI was discovered between genders in overall population as well as in certain geographical areas.

Keywords: Emotional Intelligence, Gender, IT industry, IT Professionals.

PP. 23-31

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/23-31



Investor’s Behaviour Towards Mutual Funds: A Study of Telangana Region in Andhra Pradesh

A Kotishwar, Prof. Mohd. Akbar Ali Khan

Abstract:
Complimentary Article - Full Text PDF

The Mutual Fund Industry is a fast growing sector of the Indian Financial Markets. They have become major vehicle for mobilization of savings, especially from the small and household savers for investment in the capital market. Mutual Funds entered the Indian Capital Market in 1964 with a view to provide the retail investors the benefit of diversification of risk, assured returns, and professional management. Every type of investment, including Mutual Funds, involves risk. Risk refers to the possibility that investors will lose money (both principal and any earnings) or fail to make money on an investment. A Fund’s investment objective and its holdings are influential factors in determining how risky a fund is. Reading the prospectus will help the investors to understand the risks associated with that particular Fund This research paper focused attention on number of factors that highlights investors’ perception about mutual funds. It was found that mutual funds were not that much known to investors, still investor rely upon bank and post office deposits, most of the investor used to invest in mutual fund for not more than 3 years and they used to quit from the fund which were not giving desired results. Equity option and SIP mode of investment were on top priority in investors’ list. It was also found that maximum number of investors did not analyse risk in their investment and they were depend\upon their broker and agent for this work.

Keywords: Investor Behavior, Risk-return Analysis, Investment Preference, Investment Psychology.

PP. 32-41

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/32-41



FDI in Pension in India: Opportunities and Challenges

Dr. Sakshi Vasudeva

Abstract:
Complimentary Article - Full Text PDF

Social Security for old age is one of the important challenges being faced by Indian Economy. The present study was conducted to examine the satisfaction level of organised sector of employees with the current provision for old age security in India and to know their opinion towards introduction of FDI in Pension in India. Response was collected from 100 respondents. Significant difference of opinion was found for the satisfaction level on account of gender. Females were found be highly satisfied. Respondents agreed that introduction of FDI in pension would provide coverage for unorganized sector also; pension in private hands would not help to cover people who pay small premiums; FDI in pension requires simultaneous existence of state financed schemes. Respondents were against the notion that the Pension Market should be fully opened up for foreign players. FDI in pension in India seems one of the most pressing requirements considering the growing life expectancy and inability of the government to provide universal state financed pension schemes in India. However, it is important to frame rational guidelines for such introduction.

Keywords: Social Security, Life Expectancy, FDI (Foreign Direct Investment), Pension, Organised Sector of Employees, Universal State Financed Pension Schemes.

PP. 42-49

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/42-49



A Study of the Impact of Capital Adequacy Requirements on off Balance Sheet Activities of Indian Banks

CA (Dr.) Manmeet Singh, CMA (Dr.) Niranjan Shastri, Ms. Shruti Patni

Abstract:
Complimentary Article - Full Text PDF

The purpose of this research paper is to study the impact of capital adequacy requirements and important determinants on off balance sheet activities of banks in India using the financial data from 1999-2000 to 2008-2009.The data analysis for this paper has been done with the help of multiple regressions using SPSS software. The model framework of this paper considers Off Balance Sheet Activities (OBS) as dependent variable and Capital to Risk Weighted Assets Ratio (CRAR), Non Performing Assets to Net Advances Ratio (NPA), Non-Interest Income (NII), Size as measured by natural log of assets (SIZE), Loan Ratio (LR), Gross Domestic Product (GDP), Index of Industrial Production (IIP), Net Interest Margin (NIM), Liquid Assets to Total Assets (LATA), Growth Rate of Total Equity Capital (EQUITY), and Inflation (INFL) as independent variables. Findings of this paper revealed that in case of SBI & its Associate Banks: EQUITY has significant positive whereas IIP has significant negative impact on OBS; Nationalized Banks: LR has significant positive whereas LATA has significant negative impact on OBS; Indian Private Banks: GDP has significant positive whereas IIP has significant negative impact on OBS; Foreign Private Banks: GDP has significant positive whereas SIZE, LR and IIP have significant negative impact on OBS; Public Sector Banks (taking SBI & its Associate Banks and Nationalized Banks together): LR has significant positive whereas LATA has significant negative impact on OBS; Private Sector Banks (taking Indian and Foreign Banks together): GDP and LATA have significant positive whereas CRAR, NII, SIZE, LR and IIP have significant negative impact on OBS.

Keywords: Capital to Risk Weighted Assets Ratio (CRAR), OFF- Balance sheet Activities, NPA, NIM.

PP. 50-66

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/50-66



Perceptual Assessment of Employees with Reference to Job Attributes – A Comparative Study of Public and Private Sector Banks, Bangalore

Dr. Kavitha Desai

Abstract:
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No organization can function efficiently as long as the fundamental fact i.e., human beings remain unrecognized. Banking industry is the back bone and plays a vital role in the growth of Indian economy. This sector, especially after globalization and liberalization has witnessed a sea change. It may be remembered that, the core competencies that generate competitive advantage are human resources’ knowledge, experience and contribution to organizational development. The organizations must endeavor to nurture human assets, knowledge pool to have a competitive advantage. Therefore, study of human behaviour is essential in every industrial activity. This can be achieved by scientific job attitude studies. The study of job satisfaction is one of the most fundamental areas of research as it represents the core of organizational harmony.

Keywords: Job Attributes, Economic Factors, Non Economic Factors, Task Factors, Social Factors, Public Sector Banks and Private Sector Banks.

PP. 67-74

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i2/2013/67-74

Volume 11, Issue 1 (Click here to show/hide details)

An Empirical Study of Social Marketing Programme on HIV/AIDS

Dr. Tika Ram, Dr. Dalbir Singh

Abstract:
Complimentary Article - Full Text PDF

Social marketing approach can be used to influence the target audience to change their behaviour to wards improving health and quality of life. Descriptive research design has been used in the study with the purpose of describing awareness level and attitude of students regarding social marketing issues on HIV/AIDS programme. A sample of 245 students has been collected from Gurgoan District of Haryana. By employing principal component analysis 10 factors have been extracted explaining 66.918 per cent of variance out of 30 variables of the study. The study shows that women lack awareness regarding modes and prevention of HIV/AIDS which can be due to status of women in the society in reference to their education, exposure to media and role in the matters of sex. With increase in age and education, awareness and knowledge about different aspects of HIV/AIDS also increases as observed in the study.

Keywords: HIV/AIDS, Attitude, Social Marketing.

PP. 01-09

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/01-09



The Critical Success Factors for Microfinance Institutions in India

Ms. Shagufta Sheikh

Abstract:
Complimentary Article - Full Text PDF

Present study attempts to provide a deep understanding of factors contributing to financial success of micro-finance institutions (MFIs) in India and how MFIs in developing country might learn from the successful MFIs. It analyzes the financial performance of various microfinance institutions operating in India. Data has been collected and analyzed for 86 MFIs and a regression model is proposed. Results suggest that outreach, scale of operations and target market are the significant factors for success of MFIs. The practical implication of the study is for national/international development agent which wants to set up a sustainable MFI to assist the poor and alleviating poverty.

Keywords: Microfinance, Financial Performance, Success Factors.

PP. 10-22

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/10-22



Purchase Behaviour of Women Grocery Consumers in Bangalore City

Mrs. B. Menaka, Dr. R. Ganapathi

Abstract:
Complimentary Article - Full Text PDF

Consumers decide the development of all businesses. In olden days much importance was not given to the attitudes and desires of consumers. The business people stated that their business was based on the knowledge and availability of funds. But now the situation has changed. Business in all sectors is consumer oriented. Even before commencing business itself the business people try to know the desire, attitudes and behaviour of the consumers. This will enable them to supply the materials at their convenience to the satisfaction of the consumers. Groceries are the important domestic products without which it is very difficult to survive. These are considered as fast moving consumer goods. Many traders are involved in grocery business. Though they tried a lot to increase the potential customers but due to heavy competition many traders who are involved in this business are in a position to close the business.Onmany occasions they face continuous loss in their business. Bangalore city in India experienced abnormal industrial development in the last two decades. Well known for Software industry, Bangalore is familiar for its development and income to the government by way of foreign exchange. Further most of the employees in software and other industries prefer sophisticated life and use groceries of high cost. So a number of grocery departmental stores and shopping complexes are operated in Bangalore city.

Keywords: Purchase Behaviour,WomenGrocery, Consumers, Retailing.

PP. 23-39

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/23-39



HR Configuration, Organisation Capital & Bottom-line

Dr. Jyotirmayee Choudhury

Abstract:
Complimentary Article - Full Text PDF

Since organizational knowledge is at the crux of sustainable competitive advantage, the burgeoning field of intellectual capital in general and organisational capital specifically is an exciting area for both researchers and practitioners. The thrust of the research work is to examine operationalHRpractices and procedures of Indian Software organisations. Four sets of questionnaires were designed on documentation HR practices, information technology HR practices, organisational capital and organisational performance in five point likert scale and were administered on the basis of field survey. The study found that both documentation HR configuration and information technology HR configuration are positively related to a firm’s level of organisation capital which in turn adds appreciably to the organisations bottom-line.

Keywords: Documentation HR Configurations, Information Technology HR Configuration, Knowledge Sharing, Organisation Capital, Bottom-line.

PP. 40-49

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/40-49



Convenience Solution to the Time-poor Customer: The Emerging Trend in Marketing

Mr. Pramod Kumar Nayak

Abstract:
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One of the most scarce thing in the present age is Time and everyone is trying to maximize their utilization of time and find time to relax by channelizing the quality time towards their work. This paper aims at identifying and deliberating the major issues concerning the needs in front of time-poor consumers. The issues like convenience in shopping, food consumption and maintaining a comfort Life style are addressed. In today’s world most of the consumers feel that it is difficult to manage their daily and day to day obligations and find time to relax. The attitude to time that many now adopt is one that focuses on leisure time maximization. The big opportunity for the marketers is to find out the solutions that facilitate additional time to do the things that are deemed most important is highly valued. The significance of different convenience-aligned trend across different segments of needs of the time-poor consumers has been understood and accordingly possible solutions suggested in this paper.

Keywords: Time-Poor Consumer, Obligations, Dilemma, Convenience, Opportunity

PP. 50-55

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/50-55



Impact of Investor’s Profile on Investment Decisions - A Critical Study

Dr. Anil Kumar Goyal, Mr. Dharmendra Kumar, Ms. Shalini Goyal

Abstract:
Complimentary Article - Full Text PDF

The study is conducted inwestern parts of Uttar Pradesh considering various categories of population characteristics & income characteristics to know the trends of investments and the influence of various profile characteristics of investors on their investment decisions. The study is ofvital importance because of the fact that nothingmuch has been done to explore the impact of profile characteristics of investors on their purchase behaviour towards various instruments of investment. The analysis of collected information was done with the help of SPSS 16 software and significant findings were obtained. The analysis of the study clearly reflects relationship of investor’s income profile, workexposure and qualificationwith their preference ofvarious investment options.

Keywords: Investment Decisions, Investor Characteristics, Investment Options.

PP. 56-64

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v11/i1/2013/56-64

Volume 10, Issue 2 (Click here to show/hide details)

Impact of H.R.D. Climate on Productivity As An Operational Measure of Organisational Performance

Mr. Ajay Solkhe, Dr. (Mrs.) Nirmala Chaudhary

Abstract:
Complimentary Article - Full Text PDF

In the last 20 years, research has shown that the strategic use of HR is likely to be one of the most important determinants of organisational performance. A large number of researchers equipped with the very latest ‘scientific’ methods, empirical data and statistical techniques, had tried to search the link of HR-OP known by different metaphors’ such as “Black Box”, “Russian Doll” and “Rubik Cube”. In the current times HRM/HRD/Organisational studies and related journals bulge with empirical studies, each one investigating slightly different bundles of HRM Practices, different mediating variables, different measures of performance and each one coming up with different results. Despite this outpouring of empirical researches, the HRD-OP paradigm is still unexposed by researchers, moreover such researches have largely conducted in the context of developed economies where HR practices have some amount of stagnancy, very few researches have attempted to explore this HR-OP link from the perspective of HRD Climate and that too in the context of emerging as well as developing economies like India. Therefore the researcher has attempted to unearth this Holy Grail by examining the dynamics of HRD Climate in the Indian Tractor Industry and subsequently inspect whether it has any relationship with the selected operational measures of OP i.e. Productivity or not. To serve the purpose 240 managers from four tractor manufacturing organisations (one from public sector, other three from private sector) served as sample.

Keywords: Human Resource Development, Human Resource Development Climate, Organisational Performance, Productivity, General Climate, HRD Mechanisms, OCTAPAC Culture.

PP. 01-13

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/01-13



Branding Green: A Necessity rather than a USP

Mr. Akhilesh Saurikhia, Dr. M. K. Nabi, Mr. Ashish Saurikhia

Abstract:
Complimentary Article - Full Text PDF

Branding is all about associations and indulgence. And, if it also matches with the ideas that are predominant in media and general surroundings and hence the 'in-thing' in society, will it gain or loose from the association? Being green or seen as green, is one the predominant theme these days. Thus, if branding is all about association and gratification, brand association with green will not only add to feeling of meeting social responsibility but in various other forms of decision for next purchase or before purchase-word of mouth or after purchase-word of mouth for going with the in-thing in the society. The 'in-thing' also caters to the being progressive, which relates well with the concept of aspirational nature of branding. But are consumers ready to pay more for green brands? No. it is the last thing in the list and is limited to feel good only. But people are aware about green issues. Thus green branding is currently limited to one of thing rather than a USP. Non-Green is clearly a disadvantage.

Keywords: Branding, Green, Sustainability, Communication, Media.

PP. 14-18

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/14-18



A Study on Performance Management and its Impact on Employee Motivation

Mr. Rajesh S Pyngavil, Dr. Sunita Jindal

Abstract:
Complimentary Article - Full Text PDF

Performance management is the current buzzword and is the need in the current times of cut throat competition and the organizational battle for leadership. Performance management is a much broader and a complicated function of HR, as it encompasses activities such as joint goal setting, continuous progress review and frequent communication, feedback and coaching for improved performance, implementation of employee development programmes and rewarding achievements. The process of performance management starts with the joining of a new incumbent in a system and ends when an employee quits the organization. In present scenario, it is impossible for the organisation to manage challenges without the help of potential human resource. Hence, the employees in the organisation are become are the biggest assets to be taken care of, employees ability and inability, strength and weaknesses etc have to be evaluated and appraised periodically. This paper deals with determining the extent of impact of performance management system on employee motivation in a large public sector undertaking. The results of the study revealed that there exists a significant positive correlation between career development opportunities and performance management system with employee motivation.

Keywords: Performance Appraisal, Employee Motivation, Career Development, Performance Management System.

PP. 19-24

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/19-24



Does Quality of Life of USA affect the Quality of Life of Emerging Economies?

Ms. Neha Lakhotia, Dr. Yamini Karmarkar, Mr. Varun Sarda

Abstract:
Complimentary Article - Full Text PDF

The present times have called for the economies across the World to indulge into mutually beneficial economic relationships with each other. The reduction of trade barriers have helped in easing the trade and liberalization practices in India and BRIICS have capitalized on these opportunities offered to it. Also, the common interests faced by the BRICS binds it together though there might be different responses to challenges faced by them. The economic performance of a Nation is reflected in the performance of economic variables of a Country. Thus, all relevant economic variables should be considered for the proper measurement of economic performance of a Nation. The same is even helpful for evaluating the economic policies and considering its suitability and making necessary modifications if need be. The performance of an economy is gauged through the economic indicators of an economy but for the measurement of the socio economic performance there is no such indicator. This paper therefore addresses this issue and is an attempt to construct the Quality of Life Index. The study would be using the misery index and the economic performance index to measure the economic performance of the countries. The study will focus upon studying the impact of the US economy on emerging economies in the South Asian cluster of the World Bank.

Keywords: Economic Performance, Socio Economic Indicators, Quality Of Life, Emerging Economies.

PP. 25-33

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/25-33



Role of ICTs in Empowering Rural India: A Critical Analysis

Dr. Ajai Pal Sharma, Ms. Sarita Das

Abstract:
Complimentary Article - Full Text PDF

Real Bharat breathes in rural areas and even after more than sixty years of independence, it has many challenges like; poverty, illiteracy, health problems, unemployment and many other problems because of information gap between rural and urban. This gap creates a politically and ethnically unacceptable inequality of services and opportunities for rural population and prevents them from participating in socio-economic and political life of the nation. This rural isolation and deprivation can negatively impact growth and certainly growth cannot be sustainable unless it is inclusive. ICT can play an important role in bridging this information gap and can be a powerful means to accelerate economic and social development in rural areas so that rural citizens can have access to all types of information for better participation and can upgrade their living standards. This paper is an attempt to discuss how ICTs are helpful for rural population in strengthening rural governance, encouraging social transformation, ensuring better living standards, enhancing rural people's participation in nation building, promoting rural trade and e-commerce, promoting local entrepreneurship, uplifting marginalized groups and many more.

Keywords: ICT, Infrastructure, Inequality, transformation, entrepreneurship, deprivation.

PP. 34-40

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/34-40



Stress Management: Special Reference to Public Sector Banks

Dr. Anju Singla, Ms. Shivani Gupta

Abstract:
Complimentary Article - Full Text PDF

Stress is a dynamic condition in which an individual is confronted with an opportunity, constraint, or demand related to what he or she desires, and for which the outcome is perceived to be both uncertain and important. Stress has become buzzword and legitimate concern of times. During the past decade, the banking sector has undergone rapid policy changes due to globalization, liberalization and privatization which led to increase in competition and introduction of new technologies. Stress among bank employees has increased manifold due to turbulent environmental changes Stress can manifest itself in both a positive and a negative way. It can be caused by number of factors called stressors. Factors that create stress can be grouped into two major categories— Organizational and Personal factors. Both directly affect employees and ultimate their job. Hence it becomes imperative to have effective measures to reduce the stress level. This study analyzed the organizational and individual factors which can be a root cause of stress for an employee. An attempt has also been made to study the association between various demographic factors of employees and their stress level. Chi-square test was applied to study the association between stress level and demographic factors. Garrett’s ranking technique was also used to rank the factors which caused stress among the employees and the initiatives for managing stress.

Keywords: Stress, Public Sector, Bank Employee, Stressors, Initiatives

PP. 41-48

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/41-48



Manpower Crunch: A Study of Hospitality Industry in India

Dr. Tripti Barthwal (Professor), Ms. Akanksha Srivastava (Research Scholar)

Abstract:
Complimentary Article - Full Text PDF

The Indian Hospitality Industry is booming with major Hotel brands knocking the doors of India. As the tourism industry is booming, the hotel industry is facing major shortage of manpower, in the hotel industry. Even though the dreaded word “Recession” is resurfacing now and then the Indian Hospitality is not bothered. In the highly globalized world, where growing middle class dictates the many dynamics of ever growing economy, the hospitality industry has been witnessing immense growth. Supported by increased inflow of tourists, various grown drivers like development of key infrastructure and many government initiatives in Indian tourism sector, the Indian hospitality industry is expected to take off in a big way. The paper deals with the growth in hospitality industry, reason of manpower shortage in hospitality industry, challenges and opportunities in hospitality industry, few expert’s comments on the issue and then recommendations to hospitality industry and hospitality institutions.

Keywords: Manpower Crunch, Hospitality Industry, Foreign Tourist, Demand & Supply of manpower.

PP. 49-54

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/49-54



Prospects of E-Governance: A Special Reference of E - Panchayat

Ms. Vandana Gupta, Mr. Ajay Sharma

Abstract:
Complimentary Article - Full Text PDF

E-Governance is not just about government web site and e-mail. It is not just about service delivery over the Internet. It is not just about digital access to government information or electronic payments. It will change how citizens relate to governments as much as it changes how citizens relate to each other. It will bring forth, new concepts of citizenship, both in terms of needs and responsibilities. This paper deals with the prospects of e-Governance-e-panchayat in India. For successful implementation of e-Governance, government officials have to realize that e-Governance is no longer a matter of choice, but an absolute need of the day. Cooperation from government officials and staff will be crucial in realizing the goals of modernizing this nation through e-Governance. The paper begins by clarifying the concepts related to e-Governance and by responding to some popular misconceptions that are often causes of misdirected conclusions. The paper intends to underline the features of e-governance at local self government level in rural India and examines the viability of the e-panchayats in making the local-self governance citizen-centric for efficient, responsive, cost effective, result-oriented mechanism for faster pace of rural development. The e-panchayats also become the effective instrument of vibrant grassroots democracy by empowering people with knowledge. The focuses have also on the theoretical aspects of e-governance, followed by practical aspects, and the role of ICT in the areas of good governance and facilitating people’s enhanced access to the governance, and finally on the prospects of e-governance at local level in India.

Keywords: E-Governance, Knowledge Management, Local Bodies Empowerment, Result Oriented Governance, ICT.

PP. 55-60

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/55-60



Knowledge Management is Key to Organizational Success

Prof. Col. (Retd.) Mahander Singh, Dr. G. B. Sitaram

Abstract:
Complimentary Article - Full Text PDF

Knowledge management is playing a significant role for overall development of organization. Knowledge management is a systematic attempt to generate, collate, disseminate, and apply critical and relevant knowledge in the organization. Both intellectual capital and the management of knowledge are strongly emerging themes in today's organizational world. Contemporary era is era of knowledge. Knowledge management can be defined as “The Systematic management of the vital knowledge & it involves the process of creation, organization, transmission and exploitation of knowledge.” It is well known that knowledge is the pivotal factor for the excellence of any person or organization. Many authors and practitioners note that the emerging patterns are that intellectual capital will replace natural resources, commodities, finance, technology and production processes as the key factor influencing competitive advantage. However, knowledge management is still in its infancy. This paper aims to identify the critical success factors and best practices of knowledge management through analyzing the experiences of several organizations. The paper starts by defining what is meant by 'knowledge' and 'knowledge management', and follows on by over viewing the methodology used for identifying best practices for organizational success.

Keywords: Intellectual, Capital, Knowledge, Technology, Transmission, Production, Knowledge Workers, Information Resources Management, Motivation.

PP. 61-66

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i2/2012/61-66

Volume 10, Issue 1 (Click here to show/hide details)

Employee Satisfaction - A Comparative Study of Public Sector Banks

Ms. N.Malati, Ms. Ritika Maheshwari

Abstract:
Complimentary Article - Full Text PDF

Employee satisfaction is critical to the long term health and success of the organization. A high rate of employee contentedness is directly related to a lower turnover rate. Now, more than ever, organizations need to engage employees. The rapid market change, disruptive technologies, and all the other opportunities available to key talent have forced organizations to reexamine the connections between business performance, leadership, and employee satisfaction. Thus, keeping employees’ satisfied with their careers should be a major priority for every employer. Employee satisfaction is a measure of how happy workers are with their job and working environment. This paper deals with determining the extent of employee satisfaction in Public Sector Banks with respect to the HR practices. Further, an attempt has been made to compare the extent of employee satisfaction on the prevailing HR practices of four Public Sector banks (PSBs).

Keywords: Employee Satisfaction, Public Sector Banks (PSBs), HR Practices.

PP. 01-08

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/01-08



Effectiveness of Relationship Management: Special Reference to Investors and Share Brokers in India

Mr. K. C. John Sasi Kumar,Dr. P. Vikkraman

Abstract:
Complimentary Article - Full Text PDF

Successful implementation of CRM is the key for success of Share broking institutions. The study has been carried out to find out the relationship between share brokers and investors. The data and information have been collected from 150 share brokers and 450 investors from Coimbatore Tamilnadu, India. The share brokers are disagreed with the customer never trust us and the customer does not mind to sacrifice his gain to remain with the share broker while, they are neutral with the customer never trust us and the customer never care us. The study further revels there are gap in service relationship between investors and share brokers. It is recommended that the share brokers have to improve their strategies to improve relationship.

Keywords: Relationship Management, Share Brokers, Gap Analysis.

PP. 09-18

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/09-18



Viewer’s Preference Towards Television Media For Effectual Advertisements – With Special Reference to Tamil Nadu Regional Tv Channels

Dr. K. Pongiannan

Abstract:
Complimentary Article - Full Text PDF

Television is the media where the audiences are huge which had led to the outgrowth of cable television and it has contributed a lot towards popularizing television. Beyond providing entertainment, television vastly increases both the availability of information about the different products and exposure to the uses and advantages of such products through the advertisements telecasted in the middle of the programmes. Channels are booming just like sky as the limit. If there a couple of channels, without cable or satellite television viewers would be forced to watch whatever came on the Television. But, with growing numbers of Channels, the viewers can choose from the available varieties of channels. When they prefer to watch a particular channel, the programmes and advertisements telecasted will reach the viewers more easily than the less preferred channels. Thus this study focuses on the viewer’s preference towards television channels particularly regional channels in Tamil Nadu, for effective advertisements.

Keywords: Television, Media, Channel, Advertisements, Effectiveness, Viewers.

PP. 19-23

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/19-23



A Conceptual Framework of Service Quality in Management Education Institution

Dr. B. S. Rajpurohit, Mr. Gopal Singh Latwal

Abstract:
Complimentary Article - Full Text PDF

Higher education plays pivotal role in society formation, national growth and overall economic development. India is world’s third largest higher education provider. Despite only few Indian institutions have earned global distinction. It is now exposed to serious threat of cut throat competition in terms of quality and fulfilling the demands. Quality itself a slippery concept, and service quality increases the complexities as service itself is abstract. The fate of any institutions depends how customers evaluate service quality. This paper attempts to understand service quality in the context of higher education. A through literature reviews and research papers have been studies to have greater understanding of the service quality. It highlights service quality dimension using the SERVQUAL model and how the institute should address these issues to gain competitive advantage. Moreover, this paper creates the theoretical foundation for the further empirical research in the area of service quality in higher education.

Keywords: Higher Education, Service, SERVQUAL, Quality, Quality Dimension.

PP. 24-32

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/24-32



Comparative Study of Leadership styles between Public and Private Sector Banks: A Study on Indian Banks

Ms. Suniti Chandiok

Abstract:
Complimentary Article - Full Text PDF

Effective leadership makes an organization successful. Without leadership, organizations move too slowly, stagnate, and lose their way. Much of the literature about organizations stresses decision-making and implies that if decision-making is timely, complete and correct, then things will go well. Leadership is crucial in implementing decisions successfully. Leadership helps the employees to move together in the same direction and harness their efforts jointly. This research paper is based on the Comparative Leadership Styles in Public and Private sector, also looking at whether these leaders are people oriented or task oriented. Task-oriented leaders are more oriented towards achieving the goals and are more hands off with regard to people where as person oriented leaders show concern for subordinates and are more warm and supportive. They are hands off with regard to tasks. In this study we select four banks of each public and private sector to know about what kind of leadership style they possess based on which it could be determined how close they are with people and how much importance they give to the achieve their task.

Keywords: : Leadership, Effectiveness, Success, Leadership Style.

PP. 33-39

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/33-39



Singaporean Outbound Tourism to India: A Macro-economic Analysis

Mr. Samit Chowdhury

Abstract:
Complimentary Article - Full Text PDF

The bilateral relation between India and Singapore has expanded in recent years and more particularly in the realm of tourism due to certain internal and external environmental forces. These forces are income, trade, investment, consumer price and geographical distance etc. A number of studies attempt to test the hypothesis that there is a linkage between trade and macro economic indicators of tourist origin country with that of tourist inflow. Most of the studies show that the variables are positively correlated and statistically significant. This paper specifies regression model for tourist inflow to India from Singapore for the period 1991-2008. The regression model approach indicates that gross domestic product (GDP) of Singapore is the only determinant in instigating tourist inflow to India in comparison to other bi-lateral trade and economic variables.

Keywords: Trade, Macro-economic Indicators, Trend, Regression.

PP. 40-47

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/40-47



E-Banking as an innovative tool for measuring Customer Satisfaction in Indian Banks

Ms. Navneet Kaur, Dr. Harneet Kaur

Abstract:
Complimentary Article - Full Text PDF

Traditionally, banks had a close relationship with their customers. They often knew them as individuals, and satisfied their needs through personal customized services. Recently, the development of electronic banking or e-banking has influenced the increasing competition within the banking industry. E-banking customers are nowadays just “a click away” from the competition. In addition, a few years ago, traditional banks started to face new competition with the development of e-banking services. With the popularity of PCs, easy access to Internet and World Wide Web, banks increasingly use Internet as a channel for receiving instructions and delivering their products and services to satisfy their customers. This form of banking is generally referred to as Internet Banking, although the range of products and services offered by different banks vary widely both in their content and sophistication .In such banks, there are less personal relationships, with no face-to-face contact. There is a trend among banks towards a focus on the new electronic relationship. It is necessary for banks offering online services to confront a different kind of loyalty (e-loyalty), the loyalty being derived from the relationship an electronic customer has with electronic commerce, as a great deal of customers will do their banking mainly if not completely on the internet. To reach these electronic customers and to satisfy them will impose a major challenge. The purpose of this paper is to examine how banks offering e-banking services achieve customer satisfaction and the ranking of most commonly used e-banking services customers is also done. Exploratory research is design is used and I have applied non probability sampling technique for collection of data in west Delhi. It may be concluded that the customer satisfaction and evaluation of the electronic services is influenced by the attribution of success and failure in inter personal service situations.

Keywords: Customer Satisfaction, E-banking, Transactional Baking, E-loyalty, Tele-Banking.

PP. 48-56

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/48-56



Neuromarketing: The Modern Science of Consumer Brainwashing

Dr. Rajeshwari Malik, Ms. Jyoti Paul, Ms. Parul Deshwal

Abstract:
Complimentary Article - Full Text PDF

The mind is a marvel, a phenomenon as well as a mystery. The capacity to use brain responses and relate them to behavior has accelerated at a breathtaking pace over the past few years and yielded an incredible amount of information. This new field of studying brain’s “buying centers” is called Neuromarketing. The base of neuromarketing is meme - a unit of cultural information similar to gene. Meme is a unit of information stored in the brain. Neuromarketing is increasingly being used across numerous industries worldwide to help companies improve their product development, package design and marketing efforts. Full-brain neurological testing provides a deep dive into consumers’ subconscious minds, where product trial and purchase decisions are made, and where brand loyalty is formed. Some consumer advocate organizations, such as the Center for Digital Democracy, have criticized neuromarketing’s potentially invasive technology. India is newest market for these neuromarketing techniques and is gaining popularity very fast. This paper is an effort to study the concept of neuromarketing and also its ethical use and effectiveness in the world of marketing.

Keywords: Neuromarketing, Consumer Behavior, Market Research, Consumer’s Preference, Marketing, Advertising.

PP. 57-62

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/57-62



Firm Neutrality and the Social Responsibility of Business: Critique of Friedman's Position

Prof. Michel Séguin

Abstract:
Complimentary Article - Full Text PDF

In this article, we propose a critique of the thought of Friedman on the social responsibility of the enterprise. The criticism is based on the application of the concept of neutrality to the enterprise, a concept normally used in philosophy politics. The author wants to thus show that the position of Friedman violates the principle of neutrality.

Keywords: Friedman, Social Responsibility, Political Neutrality, Liberalism.

PP. 63-70

DOI: https://dx.doi.org/10.33601/effulgence.rdias/v10/i1/2012/63-70



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List of Articles :
July-Dec, 2018 (Vol. 16- 2)


Jan - June, 2018 (Vol. 16- 01- Special Issue)


Jan - June, 2018 (Vol. 16- 01)


July-Dec, 2017 (Vol. 15- 2)


Jan - June, 2017 (Vol. 15- 01)


July - Dec, 2016 (Vol. 14- 02)


July - Dec, 2016 (Vol. 14- 02)


Jan - June, 2016 (Vol. 14- 01)


July - Dec, 2015 (Vol. 13- 02)


Jan - June, 2015 (Vol. 13- 01)


July - Dec, 2014 (Vol. 12- 02)


Jan - June, 2014 (Vol. 12- 01)


July - Dec, 2013 (Vol. 11- 02)


Jan - June, 2013 (Vol. 11- 01)


July - Dec, 2012 (Vol. 10- 02)


Jan - June, 2012 (Vol. 10- 01)


July - Dec, 2011 (Vol. 09- 02)


Jan - June, 2011 (Vol. 09- 01)


July - Dec, 2010 (Vol. 08- 02)


Jan - June, 2010 (Vol. 08- 01)


July - Dec, 2009 (Vol. 07- 02)


Jan - June, 2009 (Vol. 07- 01)


July - Dec, 2008 (Vol. 06- 02)


Jan - June, 2008 (Vol. 06- 01)


July - Dec, 2007 (Vol. 05- 02)


Jan - June, 2007 (Vol. 05- 01)


July - Dec, 2006 (Vol. 04- 02)


Jan - June, 2006 (Vol. 04- 01)


July - Dec, 2005 (Vol. 03- 02)


Jan - June, 2005 (Vol. 03- 01)


July - Dec, 2004 (Vol. 02- 02)


Jan - June, 2004 (Vol. 02- 01)


List of Abstract :
Jan - June, 2018 (Vol. 16-01)


July - Dec, 2017 (Vol. 15-02)


Jan - June, 2017 (Vol. 15-01)


July - Dec, 2016 (Vol. 14-02)


Jan - June, 2016 (Vol. 14-01)


July - Dec, 2015 (Vol. 13-02)


Jan - June, 2015 (Vol. 13-01)


July - Dec, 2014 (Vol. 12-02)


Jan - June, 2014 (Vol. 12-01)


July - Dec, 2013 (Vol. 11-02)


Jan - June, 2013 (Vol. 11-01)


July - Dec, 2012 (Vol. 10-02)


Jan - June, 2012 (Vol. 10-01)


July - Dec, 2011 (Vol. 09-02)


Jan - June, 2011 (Vol. 09-01)


 
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