Global Business Review

Published by SAGE Publications
Print ISSN: 0972-1509
Publications
The Value Shop Diagram for a General Practitioner [29]
The Healthcare industry is undergoing a paradigm shift from healthcare institution-centred care to a citizen-centred care that emphasises on continuity of care from prevention to rehabilitation. The recent development of Information and Communication Technology (ICT), especially the Internet and its related technologies has become the main driver of the paradigm shift. Managing relationship with customers (patients) is becoming more important in the new paradigm. The paper discusses Customer Relationship Management (CRM) in healthcare and proposes a Social CRM or CRM 2.0 model to take advantage of the multi-way relationships created by Web 2.0 and its widespread use in improving customer services for mutual benefits between healthcare providers and their customers.
 
Estimation of production function parameters
Variable definitions and summary statistics
Determinants of firm leverage
Recent empirical evidence has shown that internal capital markets within multinational corporations are used to reduce overall financing costs by optimizing the mix of internal and external debt of affiliates in different countries. We show that this cost saving use of internal capital markets is not limited to multinationals, but that domestic business groups actively optimize the internal/external debt mix across their subsidiaries as well. We use both subsidiary and group level financial statement data to model the bank and internal debt concentration of Belgian private business group affiliates and show that a pecking order of internal debt over bank debt at subsidiary level leads to a substantially lower bank debt concentration for group affiliates as compared to stand-alone companies. However, as the group's overall debt level mounts, groups increasingly locate bank borrowing in subsidiaries with low costs of external financing (i.e. large subsidiaries with important collateralable assets) to limit moral hazard and dissipative costs.
 
Regional Cooperation for Inclusive and Sustainable Development—South and South-West Asia Development Report 2012–13. Economic and Social Commission for Asia and the Pacific South and South-West Asia Office, United Nations, and Routledge, New Delhi, 2012, 175 pp., ₹ 695 (ISBN: 978-0-415-82774-4 [PB])
 
C. K. Johri, India: Perspectives on Politics, Economy and Labour, 1918–2008 Volume 2: The Age of the Constitution, 1958–2007. Delhi: AAKAR Books, 2012, 743 pp. (ISBN: 978-93-5002-186-6 [HB])
 
The long-run relationship between current account balance (CAB) and capital account balance (KAB) and the repercussions of capital account convertibility (KAC) on the growth process of a country is a much-debated issue. In particular, in the aftermath of the Southeast Asian crisis, the limitation of the liberal capital regime for a developing country like India is often highlighted in the literature. However, the probable impact of introducing KAC on CAB in India is generally discussed theoretically. Though some empirical studies in India have recently focused on this research question, the current paper contributes to the literature first, by exploring the presence of any endogenous structural breaks in the individual series of CAB and KAB and then examining the nature of long-run relationship between them. Applying the ARDL method of co-integration, the empirical findings support the presence of a long term co-integrating relationship between capital and current account balance and reveals that a significant structural break is observed during 2002–03 for both the series.
 
Reliability Indices of the Instruments
Inter Correlation Matrix of Intrinsic Task Motivation, Need for Growth, Need for Achievement, Need for Power, Need for Affiliation
Inter Correlation Matrix of Factors of Intrinsic Task Motivation
Canonical Correlations between Variables of Empowerment and Motivational Needs
Empowerment is giving frontline employee discretion to take decisions instantly, keeping in mind the organizational consequences. In service organizations attracting and retaining customer is a daunting task. Empowering employees psychologically will help them in taking proactive actions to serve customers better. The objective of the present article is to study the influence of motivational needs on psychological empowerment. The independent variable is motivational needs (need for growth, achievement, power and affiliation). Psychological empowerment, a dependent variable, in the present study, has been studied by intrinsic task motivation (which is measured by meaning, competence, self-determination and impact). It is hypothesized that the four motivational needs that is, need for achievement, power, affiliation and growth will positively influence psychological empowerment. Standard instruments are administered to measure different variables and to investigate the influence of chosen variables on psychological empowerment. Several statistical techniques like correlation, multiple regression and canonical correlation are used to measure the significance and strength of relationship between identified independent and dependent variables. The main conclusion is that all motivational needs, other than the need for affiliation, are significantly and positively related to psychological empowerment (intrinsic task motivation). The positive relationship between psychological empowerment and need for affiliation was hypothesized thinking five star hotels as the source of sample where employees are required to demonstrate high degree of need for affiliation.
 
The role of infrastructure in economic development can hardly be over emphasized. The advanced economies of the US, of Europe and of Japan, all developed their infrastructure first. In response to the business needs of faster, cheaper, and more varied modes of communication, the telecommunication sector in many countries has been undergoing rapid technological and structural changes over the past few years. Since the mid 80s, the telecommunication sector in India, too, has undergone major transformations. Private participation in the manufacture of end user equipment and services, reorganization of the monolithic Department of Telecommunication, and raising finances from public for investment in the state owned factories and organizations have been some of the policy initiatives of the government. In a scenario where the features of the Indian telecom sector such as under investment, amalgamation of regulatory and operational functions, ill-defined sector policies, and lack of financial and administrative autonomy are common to many other developing countries, the consequences of sectoral changes have implications both for decision makers at the national level as well as in other developing countries. This article attempts to review the practices for bridging the gap between current performance levels and the projected potential of Indian telecom sector at the international standard. This is evident by the empirical data tested which is collected by the different sources and then complied at one level to reach out at some conclusions.
 
Financial Performance Variables used in the Study
Pre-merger and Post-merger Statistics for Performance Ratios of Merging Banks
Pre-merger and Post-merger Statistics for Performance Ratios of Merging Banks on Individual Basis
Cumulative Average Abnormal Returns Results Merger Announcements Cumulative Average Abnormal Return in % (p-values)
Cumulative Average Abnormal Returns (CAAR) around Merger Announcements
Mergers and acquisitions are strategic decisions taken for maximization of a company’s growth. But the point of the matter is, how far does the empirical evidence support this notion? An examination of the existing literature suggested no conclusive evidence about the impact of M&A on corporate performance. Therefore, this article investigates the mergers in the Indian Banking industry to find out whether Indian banks have achieved performance efficiency during the post-merger period namely in the areas of profitability, liquidity, shareholders wealth and share price volatility. Basically, two methods are employed to compare pre-post merger performance, of Indian banks from 2000 to 2011. First, paired sample t-test determines the significant differences in financial performance before and after the merger activity, and second, a standard event study approach examines the announcement effect of mergers and acquisitions on share price volatility (event window of 120 days) and the efficiency of the Indian stock market. An overall assessment (accounting performance measures and stock market reaction) of mergers in Indian banking sector indicates absence of any significant impact on their financial performance. The merger in Indian banks only brings significant improvement in EPS and Market value to book value of equity. The study exposed the fact that the stock prices react significantly to merger announcements in the short period (30 days pre- and post-merger announcement) but not in long period which also indicated that Indian stock market is efficient in the long-run.
 
In this era of educational marketing, education has become a commodity to be purchased by a consumer in order to build a skill set to be used in the market place and no more is it only recognized as the assets of skills, attitudes and values required for citizenship and effective participation in today’s society. Moreover, with the globalization phenomenon, which was always reflected in the education sector especially in India from olden times, has lead to the mobility of the students to the foreign countries either for quality or affordable education. Educational marketing can be defined as a planned and systematic two-way process of communication between an educational institution and its stakeholders designed to build morale, goodwill, understanding and support for that organization. The outcomes are usually goodwill, positive attitudes, respect, understanding and basic support. A developing country like India can use educational marketing as per its requirements. Therefore, this paper deals with two aspects in higher education in India. It tries to build a case for the need of decreasing outward student mobility and for more foreign students to be attracted to Indian higher education. To meet this purpose, the present study focuses light on the scenario of the higher education system worldwide and how economic globalization of higher education is shaping new horizons in the education sector. The present study details the statistics of student mobility world-wide and in India. The present study will also compare the composition and trends of exports of higher educational services by selected universities in Delhi, the capital and one of the metrocities of India. The present study is based upon the data collected from the Ministry of Education, Ministry of HRD, WTO publications, University Annual Reports and various journals and books published by the Association of Indian Universities (AIU) and the University Grants Commission (UGC).The three universities under study are the University of Delhi (DU), Jamia MiliaI slamia (JMI) and Indira Gandhi National Open University (IGNOU). These universities are involved in globalization by admitting foreign students. DU and JMI offer regular and distance education courses in India, therefore foreign students come to these universities and take admission and study, whereas IGNOU has a different modus operandi. It has the partner institutions (PIs) all over the world in different countries. Students from those countries get enrolled through the PIs and pursue courses from IGNOU as it offers only distance courses. These universities in New Delhi have been chosen as Delhi is the capital of India and has two functional universities acclaimed worldwide and one open university of international repute, in order to understand how the various modes attract the foreign students; and these being publicly funded universities, how much impetus has been put on internationalization of higher education despite all required infrastructure being available with them for conducting the courses effectively and efficiently.
 
The current study contributes to the existing literature by examining the psychometric properties of Dutch Work Addiction Scale (DUWAS). Confirmatory factor analysis was carried out on the responses of public and private sector employees working in various sectors of service industries of Jammu region (India) using AMOS 16 Software package against the various dimensions of DUWAS. The results provide support for the first-order a priori 3-factor, 20-item DUWAS scale which collectively comprised second order factor called workaholism.
 
Framework of the Present Study Source: Compiled by the authors.  
Background of the Participants of the Present Study
Summary of Predicted and Supported Relationships between the Dependent and Independent Variables
Globalization in recent years has made the understanding of international human resource problems more important for managers in companies. Despite the growth of female managers with international assignments, there are very few studies about the repatriation challenges faced by female managers. The study on which the present article is based, attempts to explore the emotions and feelings that female repatriate managers in Australian and New Zealand (ANZ) companies encountered during their repatriation process. To the best of our knowledge this is the first study focusing on this subject. Our findings indicate the overall repatriation process for female expatriate managers in ANZ companies to be rather unsatisfying. This study attempts to posit that enhancing female employees’ commitment towards their parent firms is a critical first step and to show the way for ANZ firms to begin this important process.
 
The Structure of the Panel Data 
Explanatory Variables and Proxies 
This study focuses on the dynamic aspect of capital structure which is a relatively new area in the finance literature. By employing panel data, 790 of non-financial listed firms in Malaysia are examined for the period 2000–2009. Conducted using the dynamic Partial Adjustment Model and estimated based on the Generalized Method of Moment, this study investigates the existence of target capital structure, speed of adjustment and factors affecting speed of adjustment. There are evidences of target capital structure and firms do adjust to be at their target from time to time with a considerably rapid speed of adjustment, in line with dynamic trade-off theory. Firms in Malaysia are found to be under-adjusted, being below the required adjustment to be at the target within a year. Study on factors affecting speed of adjustment is a new contribution to the literature as no work has been done regarding this issue in Malaysia. This study also analyzes firm-specific factors affecting speed of adjustment. There is strong evidence on the negative relationship between the speed of adjustment and distance from target leverage suggesting fast adjustment if not being far from target. Firm size and profitability significantly influence speed of adjustment for firms in Malaysia.
 
The Descriptive Statistics Collected for all the Factors
Summary of Rotation Matrix and Variance Percentage after Varimax Rotation
Identifying the optimal price for a new product is a critical step in the innovation process and correcting the price of an existing product is a necessary component of a successful enterprise. With the wide range of pricing research techniques practiced in the SME Sector, it is not always clear which technique best addresses the business issue at hand. This article analyzes the most common methods used for consumer goods pricing research and offers guidelines on the best methods presently implemented in the SME sector in India. This article helps describe how pricing methods can best be used to address particular pricing issues based on the level of competition needed to be considered and the depth of pricing knowledge needed. It leads to the conclusive remarks that how pricing methods are diversified for different business organizations in their own way compatible to the peculiar objective of an organization.
 
Environmentalism has become an important social and corporate issue during the twenty-first century. Consumers are becoming more environmentally conscious and are demanding green products from manufacturers. This has resulted in the emergence of new concepts like green marketing and green consumerism. Over the years various studies have investigated the concept of green consumer behaviour and have listed out factors that work as either barriers or enablers when it comes to consumer adoption of environmentally sustainable products or lifestyles. The present study aims to identify and evaluate the enablers that facilitate consumer adoption of green products. Using Interpretive Structural Modelling a series of initial relationships was established that predict how the joint effect of these enablers affect green consumer behaviour and green product adoption.
 
Mentoring plays an important role in employee growth and advancement. It has been found to be of special significance for the advancement of managerial women in international research. The purpose of this paper was to investigate Pakistani female managers’ perceptions regarding the significance of mentoring to their career success. The paper focused on the perceptions of managerial women regarding the significance of mentorship in their career success. If women did not think that that mentoring was of significance to success, then they would not seek a mentor. If they did not seek out a mentor, they might inadvertently be curtailing their own managerial advancement. The most significant result of this study was that women in the study did not perceive mentoring as important to their advancement. On the other hand, there was an association between women who felt that slow advancement was due to lack of mentor and their managerial advancement.
 
Horwitz et al. (2006: 807) have argued that ‘the debate regarding convergence/divergence perspectives in the cross-cultural diffusion of human resource management (HRM) practices is a somewhat simplistic one.’ The authors are of the view that because convergent similarity of HRM practice exists at a nominal level, the notions of hybridization and crossvergence are better in explaining HRM practices and their diffusion across countries. While the authors focused on exploring explanations of the differences in HRM practices, the article provocatively challenges researchers and experts to explore the question of whether Multinational Companies (MNCs) should adapt Human Resource Management Innovation (HRMI) and if so, why? And how? The main aim of this article is to investigate the following questions: (a) Given that MNCs transfer HRMI to developing countries, which policy should guide the transfer (polycentric or ethnocentric?); and (b) Given that host-country nationals (HCNs) are not passive recipients of HRMI, what are the implications of the policy (polycentric or ethnocentric) for MNCs? The result of our investigation and the review of literature suggest that the MNCs’ performance management (PM) policies are partially ethnocentric, but the practice, as perceived by some HCNs (employees), is polycentric. For example, some HCNs perceive some degree of nepotism and patronage in the system. Also, many felt that their line managers were biased against them. Similarly, a significant number of HCNs felt that their views are not taken into account during PM review and they do not receive feedback from their managers. The implications of the findings are then discussed.
 
The present study is conducted to investigate the emotional labour and organizational role stress of pilots, airhostesses and air traffic controllers. An emotional labour scale (Grandey, 2003) and an organizational role stress scale (Pareek, 1993) are administered on a sample of 90 aircraft employees. A one-way ANOVA test revealed that the three groups of aircraft employees differ significantly among each other in their emotional labour (F = 31.92; P < 0.001) and organizational role stress (F = 44.26; P < 0.001). More specifically, air traffic controllers are observed to have significantly higher organizational role stress compared to pilots and airhostesses; whereas airhostesses are observed to have significantly high emotional labour compared to pilots and air traffic controllers. Further stepwise multiple regression analysis revealed the factors significantly contributed to emotional labour and organizational role stress of aircraft employees. Findings of the study are helpful for the aircraft management authorities to come out with different strategies to improvise the emotional labour and organizational role stress.
 
Vendor-managed inventory (VMI) is a collaborative strategy between a buyer and supplier to optimize the availability of products at minimal cost. Overall, inventory management cost plays a significant role in reducing supply chain cost. Specifically in the fast-moving consumer goods (FMCG) sector, inventory–turnover ratio needs to be very high to compete in the global market. Throughout the supply chain, VMI is used to cut inventory-related costs and keep inventory levels low. VMI helps organizations to reduce the inventory-associated costs by shifting the responsibility of managing and replenishing inventory to vendors. In this article, various critical factors of VMI are identified from the literature review and experts’ opinions. The interpretive structural modelling (ISM) approach has been employed to develop the structural relationship among different factors of VMI to improve the performance of the supply chain. The article also defines the levels of different factors for VMI on the basis of their driving or dependence power and their mutual relationships. These factors have been further categorized according to their driving and dependence power. The insight from this model will help supply chain managers in implementing VMI to improve the overall performance of the supply chain.
 
This article investigates the cointegration level, and changes in the existence and direction of causality among volatilities. Vector autoregressive (VAR) model enables us to conduct Granger-causality and impulse response analysis, and determine the pattern of causality. The empirical findings uncover that ex-ante volatility best impounds the market-wide information to explain the ex-post volatility. Vector autoregression results make clear that unidirectional causality exists among ex-ante and ex-post volatilities. Impulse response analysis explains that realized volatility declines significantly initially in the first two periods and remains constant for all other periods. Findings, emphasizes that implied volatility is more informative on volatility forecasting, useful for successful volatility traders and pricing of options.
 
Relationship between Culture and Commitment Source: Based on the computed data, collected by the authors. Notes: 1. Parameters above the arrows represent standardized coefficients (betas), with t values in parenthesis, and parameters above the eclipse show R 2 , and F values are in the parentheses. 2. * * p < 0.01.  
Simple Regression Results of the Organization Culture and Commitment 
Regression: Commitment and Demographic Variables 
The objective of this study is to find out the contribution of various cultural variables on the organizational commitment. Data were collected from the public sector units located in the eastern part of India. Analysis of data revealed strong relationship between culture of the organization and commitment of employees. The antecedents of culture were then examined in relation to the three commitment variables: affective, continuance and normative commitment. Antecedents of culture were significantly and positively correlated with dimensions of commitment. Subsequent multiple regression analysis confirmed that commitment is predicted by organizational culture. The equation consisting of all antecedents of organizational culture were found to be predictive, except milieu. The results confirmed that it is possible to identify the components of culture influencing the type of commitment among the employees in the organization.
 
Purpose Innovation has been traditionally considered as a generator of competitiveness. Despite the increasing importance of innovation in the literature, there is no agreement about its antecedents. This clearly makes difficult and risky for the managers to choose suitable strategies to promote and develop successful innovations. The present research attempts to contribute to this important area by providing some critical insights on the origins of the innovative behaviour of the firms; namely: market orientation and entrepreneurial proclivity. Design/methodology/approach To reach our goal we used in-depth case research methodology in furniture firms from Italy, Spain and Finland. Findings The article contributes to the understanding of why some firms are more innovative than others. The study shows some evidence that market orientation and the entrepreneurship can be considered as antecedents of innovation. Research limitations/implications We provide evidence that the furniture industry shows a tendency to innovate based on its market orientation along with its entrepreneurial proclivity probably due to the fact that it is a traditional, non-globalized low-tech sector. Future studies might also address other variables related to different competitive settings. Practical implications This work presents direct implications for companies aiming at improving their innovation capabilities. First, it is recommended that entrepreneurial firms should promote a market orientation philosophy, and second, they also need the top management commitment in terms of people and financial resources to achieve its goals. Originality/value This article offers an insight to explain why some companies are more successful at starting and developing innovation than others. The finding that a successful innovation profile is related to entrepreneurship and the market orientation of the company represents an interesting contribution to the management of firms.
 
The objective of this study was to explore the impact of store personality antecedents on store personality dimensions. A mall-intercept survey was undertaken using a systematic sampling of department store shoppers of age 18 years and above in Kolkata, a metropolitan city of India. Questionnaire was used to collect data from busy shopping malls or centres located in different places of Kolkata with systematic sampling. The impact of store personality antecedents on store personality dimensions was explored using stepwise regression analysis. Results revealed that different sets of store personality antecedent affect various department store personality dimensions differently. The impacts of all sets are positive and significant. Arguably, this article was the first to explore the link between store personality antecedents and store personality dimensions in Indian and department store personality contexts.
 
With increasing doubt about the validity of the one-factor Capital Asset Pricing Model in pricing financial assets, development of newer models or extensions has become the order of the day. This paper applies one of these developments—the multi-factor Arbitrage Pricing Theory (APT) to explore the relationship between portfolio returns and selected macroeconomic variables. While the chosen model has been extensively tested in developed markets, few such attempts have been made in emerging capital markets. Thus, the purpose of this study is to test the validity of the APT model in India, which has, over the years, gained immense importance in the investors’ minds, the world over. Moreover, the surge in volatility and growth in the Indian capital markets over the past five years makes it an interesting market to study given the rising significance of the risk-return trade-off in such a market. The paper examines ten portfolios, covering 50 stocks, over a five-year period from 1 January 2003 to 1 February 2008 to verify the efficiency and efficacy of the model and finds that APT is a suitable descriptor of asset prices in the Indian context. To overcome the problem of multicollinearity among the macroeconomic explanatory variables, a factor analysis was carried out that resulted in two factors namely the inflation factor and the market index. The excess portfolio returns were regressed on these factors. The regression results display accurate relationships that are significant for each of the 10 portfolios and moderate to high explanatory power. Thus, it concludes that APT is a good fit in India over the chosen sample period.
 
Pritam Singh, Asha Bhandarkar and Sumita Rai, Millennials and the Workplace-Challenges for Architecting the Organizations of Tomorrow. New Delhi: SAGE Publications, 2012, 233 + xxix pages, ₹ 425 (Paperback) (ISBN: 9788-132-108986)
 
The paper implements ARDL bounds testing approach to cointegration to explore whether or not stocks are good hedge against inflation in the case of a transition economy such as Pakistan, using annual data for the period 1971 – 2008. Ng-Peron (2001) unit root test is applied to determine the stationarity of the series. The results suggest that stocks act as good hedge against inflation in Pakistan both in the long and the short run. The findings should help formulate appropriate policy to encourage investment in financial markets and thereby promote economic growth.
 
Much attention has been focused on the decline of traditional employment structures in the advanced industrial countries. Lesser attention has focused on this issue in Asia. In this comparative essay, the authors examine the changes in employment security in China, India, Japan, and South Korea. They focus on the historical development of the employment security social contract in these countries, noting the institutional features that gave rise to it in each country. They then examine the resilience of employment security norms under recent economic pressures. They find there has been substantial erosion in employment security during the 1990s in all four countries due to both increased competition and economic liberalization, although there is some variation in both the rate of erosion as well as the prospects for revival of the social contract. They assess the possibilities of a revival in this particular social contract, and the impact of the erosion on unorganized workers.
 
This study aims to assess barriers to service trade in the education, health, telecom, transport and travel and tourism sectors of selected South Asian economies such as India, Sri Lanka, Pakistan, Nepal and Bangladesh, including both trade and domestic restrictions. The analysis is focused on computation of aggregate and modal service trade restrictiveness indexes (STRIs) by sector, drawing on information gathered based on detailed questionnaires. The conclusions highlight that while significant regulatory reforms have taken place in certain (for example Telecom) service sectors over the last decade, a broad range of restrictions still remain. The most significant change in these service sectors has been the lifting or softening of the constraints imposed on foreign equity participation. Interestingly, the economies in terms of regulatory reforms are more open to non-South Asian economies and not so much open to each other. However, reforms have had varying degrees of impact on market structure depending on the country and the sector. Based on findings of the study it is possible to argue that industrialisation is not the only route to economic development. Overall, technological changes (with the help of splintering and disembodiment of services) have made many services tradable as happened in the case of manufactured goods. Therefore, adequate reforms may not only remove the barriers to services trade but also generate higher services trade in the region, through which the region may achieve higher income and employment.
 
This article investigates the trade-off of developing a brand facing a firm. Establishing the brand on the one hand reduces liquidity (subjective) risk perceived by investors through effective marketing, but on the other hand increases market (objective) risk through incurring a substantial advertising expenditure to accumulate intangible assets. I estimate the model parameters using a new liquidity-augmented Capital Asset Pricing Model developed by Liu (2006). I find that as advertising expenditure increases, the brand lowers liquidity risk associated with perceived risk by consumers and investors, but increases market risk associated with asset-market structure. Although the impact through which the role of brands operated differed somewhat across industry characteristics, I find that the general impact of brand contribution is empirically plausible across the firm products.
 
Petrol was sold as a ‘commodity’ through ‘mass marketing’ in India for over four decades and generations of Indian consumers got so used to this that when ‘segmented marketing’ arrived and brands were launched in 2002, a paradigm shift was expected in marketing practices and also in consumer behaviour. The changes occurred, as expected. Before 2002, Indian consumers purchased petrol which came in only one variant, from government regulated companies with similar sounding names and logos, at one price from one type of outlet. Even the promotion campaigns reached consumers through identical media (hoardings) and conveyed identical messages (‘save petrol’). This was the result of tight regulations posed by the government on the marketing of petrol. Also, offering subsidies to petroleum marketing companies and setting different prices of petrol and diesel were also a part of government’s overall strategy. Over a period of time, the sharp rise in demand made the government realize that it could not manage the exploration, refining and marketing of petrol on its own. After a lot of deliberation, in 2002, government allowed private sector players to market petrol, with a promise of providing a level playing field to them. As a result, the Indian market saw the entry of multinational (Royal Dutch Shell Plc.) and private Indian players (Reliance Industries, Essar Oil Limited, etc.) setting up shop to market petrol. Brands were launched, celebrities were hired to promote the brands, outlets were refurbished and pricing was revisited and different variants of petrol were offered at different prices. The whole scenario changed very quickly and companies went out all guns blazing and all the players launched a marketing blitzkrieg. Objective of the study: Now, after a decade of high-decibel marketing action and after millions having been spent in brand building and educating consumers about the new avatars of petrol and ways of petroleum marketing, it was felt that it would be interesting and useful to take stock of the outcome of these marketing activities. To be precise, this research is aimed at measuring the changes, if any, in consumers’ preferences and attitudes towards branded petrol. Methodology: To achieve the above, an empirical study was undertaken and data was collected from 900 MBA students who drive their own vehicles and hence are consumers of petrol. Hence, it was a fairly large homogenous set of respondents to whom the questionnaire was administered. Findings: The results of the study present interesting findings for academicians as well as marketers. It was found that although consumers see value in branded petrol they consider different brands of petrol as ‘very similar’. It may be concluded that the marketing strategies have made the consumers sit up and take notice of petrol brands and also the strategies have been successful in the sense that consumers see value in branded petrol. Another interesting insight as a result of analysis was that consumers perceive that they are price sensitive as far as petrol is concerned, but actually they are not. Implications: The above suggests that companies would have to think of creative ways to position their brands as ‘different’ because until that is achieved, the companies will not be able to reap the real benefits of marketing and marketers of petrol need not lose their sleep on the price sensitivity of the consumers (at least up to an extent); rather, they should focus on adding value and creating meaningful differentiation.
 
The study conducted among the information technology users in business organizations in Delhi and NCR, addressed the issues of service quality and its impact on long-term customer satisfaction from an interaction approach and relationship marketing perspective in the medium size B2B sector. The objectives include identification of important customer requirements and service attributes that signify internal processes and customer interaction. It reveals that, service improvements and technical preparedness emerge as new dimensions apart from the applicability of dual aspects of Gronroos’ perceived service quality model—technical and functional dimensions.
 
Socio-cultural change is an invariable concomitant of the politico-economic globalization being embraced by most countries. Yet the interrelated roles of global media corporations and nation-states in the process of globalization have been relatively untouched in global business research. This article examines the role of the global media industry as a cultural change-agent, even a source of cultural imperialism. Drawing on a critical analysis of literature from other social science disciplines, this article argues that media corporations are not solely responsible for the socio-cultural upheaval that accompanies politico-economic globalization. There is also insufficient evidence for the homogenization or Westernization of cultures via the media. Still, given the sensitivity of nation-states to national culture, this article concludes that the impact of the conver gent media, information and communications industry needs to analyzed in the wider context of the global ization of their politico-economic and socio-cultural environments. Yes Yes
 
Research in the past has documented the use of strategic human resources (HR) integration and proactive communication as best practices in mergers and acquisitions (M&A) to deliver the expected synergy out of a combination (merger or acquisition). The failure of majority of M&A deals has been attributed to improper handling of HR issues and lack of a thorough understanding of the merger/acquisition context by the acquiring management. This study was initiated to understand how proactive communication and strategic integration of HR issues improves the chances of deal success. Based on data collected through field interviews with managers of two bank mergers in India, it was concluded that strategic employee communication, appropriate changes in the performance management system and a compensation structure with cutting edge strategic HR practices paved the way for successful integration and merger success in one of the cases studied.
 
Results of Correlation Analysis 
Results of Regression Analysis 
Summary of Results from Scale Purification: Mean Satisfaction, Standard Deviation, Factor Loading and Variance Explained 
The study analyzes the overall business orientation of Indian consumer banks by examining five important business philosophies, namely, production orientation, selling orientation, customer orientation, market orientation and relationship marketing orientation. It throws light on the extent to which each business orientation is followed by Indian banks. All the 39 branches of Jammu and Kashmir Bank Pvt. Ltd (JKB), 13 of State Bank of India (SBI) and 17 of Punjab National Bank (PNB) functioning in Jammu city respectively were contacted. The study found that Indian banks are purely customer oriented and had not yet fully implemented a market orientation philosophy. Moreover, they are not following relationship marketing philosophy, which is the need of the hour and it is imperative for banks to focus on developing long-term relationships with their customers. Further, the two business philosophies, namely, production orientation and selling orientation show insignificant impact on the overall business orientation of Indian banks. Therefore, bank management should concentrate equally on technology and an effective promotional mix. Moreover, they should rethink customer-oriented strategies according to the changing competitive environment and simultaneously think of a market orientation philosophy. Further, management should focus equally on four components of relationship marketing, namely, trust, commitment, loyalty and customer retention.
 
This study examines the difference between public sector and new private sector banks with reference to service convenience dimensions; decision convenience, access convenience, transaction convenience, benefit convenience and post-benefit convenience. A cross-sectional research on 445 retail banking customers through structured questionnaire is conducted. The population of the study is valued retail urban customers of the public and the new private sector banks in Rajasthan, who frequently visit bank premises for transactions, have accounts in at least two banks and have availed of at least one IT based service. The results reveal that service convenience dimensions differ between public and new private sector banks. New private sector bank customers’ mean score is found more than public sector bank customers. This study has theoretical and practical contribution. From theoretical point of view, service convenience scale is used and validated in retail banking sector in Indian context. For bank professionals, this study explains the difference of service convenience between public and new private sector banks and opens door to improve service convenience.
 
Shil Niyogi, How Some Small Businesses Get Their Ducks in a Row and Grow—While Others Remain Undistinguished. New Delhi: SAGE South Asia Edition, SAGE Publications India Pvt Ltd, 2012, 197 pp., ₹ 350 (ISBN: 978-81-321-0753-8[PB])
 
Jayati Sarkar and Subrata Sarkar, Corporate Governance in India. New Delhi: SAGE South Asia Edition, SAGE Publications India Pvt Ltd, 2012, 562 pp. ₹ 795 [Hardback] [ISBN: 978-81-321-0723-1]
 
All India Management Association, Leaders on Leadership: Insights from Corporate India. New Delhi, India: Response Business Books (SAGE Publications India Pvt Ltd), 2012, 156 pp., ₹ 295 (ISBN 978-81-321-1049-1[PB])
 
Sunil Unny Guptan, Executive Coaching: A Practitioner’s Guide to Creating Excellence. New Delhi: SAGE South Asia Edition, SAGE Publications India Pvt Ltd, 2012, 182 pp. ₹ 195, Rs 295 (Paperback) (ISBN: 978-81-321-0717-0)
 
Jim Collins and Morten T. Hansen, Great by Choice: Uncertainty, Chaos, and Luck—Why Some Thrive Despite Them All. London, UK: Random House Business Books, 2011, 320 pp. ₹ 799 [Hardback] (ISBN: 978 1 847 94088 9)
 
Classical economic theory distinguished between two factors of production: capital and labour. Alfred Marshall added a third factor: management. Gary Becker, in distinguishing between unskilled and specialized labour, emphasized the importance of investment in special human capital. Dieter Sadowski showed that investment in general human capital increases the ability to move but reduces the willingness of the employee to move. In the 'New Economy' the willingness of the employees to move has increased significantly. On the other hand, the firms have become interested in flexibility: Project management requires combining different skills in individual projects and assigning different individuals to ever-changing projects. These individuals may be found inside or outside the firm. In this sense we talk about the virtual firm. In the article, a generalized assignment problem is developed to capture the process of managing special skills of individuals for changing projects in a virtual company.
 
Type of FDI by country
During the process of industrialization and afterwards (1960-80), Greek outward investment to Western and developing countries had been marginal, and government policy had only emphasized inward investment. But since the beginning of the nineties the opportunities arising from new investment in Eastern European Countries (EECs) have completely changed the scene. The aim of this article is to shed some light on the foreign direcf investment (FD1) flows from a peripheral European Union (EU) economy such as Greece, to two Less Favoured Regions of Eastern Europe, namely Bulgaria and Romania. In particular, on the basis of the empirical results gathered from a survey carried out in 1995-96, the objective is to analyze key criteria underlying investment choices by Greek firms, in order to help identify their role in the restructuring process and the impact that outward flows might have on the Greek economy.
 
The concept of student engagement is gaining widespread acceptance in the West as it is found to be positively related to academic outcomes as well as personal development of the students. Although it is generally agreed that student engagement is a multidimensional construct, there is no agreement over its dimensions. The study on which this article is based, seeks to identify the dimensions of student engagement through exploratory factor analysis, analyzing a pool of items drawn from various sources, including some of the authors’ own. Using the five dimensions identified through this process, the study attempts to assess the level of student engagement among the first-year students of a two-year full-time MBA programme of an Indian business school. Finally, it uses step-wise regression analysis to identify the predictors of student engagement.
 
In this study, we attempt to identify the channels through which economic reforms enhanced the productivity growth in total manufacturing sector in India. Because one possible channel is better utilization of plant capacity, we estimate capacity utilization rate in Indian manufacturing. Empirical estimates show that the annual average capacity utilization rate in Indian manufacturing was lower over the post-reform years. However, after the reforms capacity utilization rate grew faster at the all India level as well as for most of the major industrial states. Subsequent regression analysis confirms that there was evidence of a favorable impact of economic reforms on productivity growth in total manufacturing, beyond the positive impact of improved capacity utilization.
 
Efficient management of working capital is an important indicator of sound health of an organization. It means management of various components of working capital in such a way that an adequate amount of working capital is maintained for smooth running of a firm and for fulfillment of twin objectives of liquidity and profitability. The present study aims to examine the efficiency of working capital management practices of 14 companies in capital goods sector (as per BSE 200 companies) from the year 2000–2001 to 2009–2010. The analysis is based on Performance Index, Utilization Index and Efficiency Index of Working Capital Management. The study shows that number of firm’s efficiently managing working capital varies from 35 per cent to 78 per cent over the span of time period under study. The study also proposes to evaluate the ability of individual firms in reaching the target level of efficiency, i.e., average performance of industry. The revelations made by the study if followed are bound to generate increased profits and profitability of leading corporate of India. The study also attempts to study the degree of the relationship between the Efficiency Index and Profitability measured by Income to Current Assets and Income to Average Total Assets.
 
The article examines the relation between working capital management and profitability for a sample of 66 Nigerian non-financial firms for the period 1997–2007. Trade credit policy and inventory policy are measured by number of days accounts receivable, accounts payable and inventories; and the cash conversion cycle (CCC) is used as a comprehensive measure of working capital management. The results suggest that firm’s profitability is reduced by lengthening the number of days accounts receivable, number of days of inventory and number of days accounts payable. The result shows that shortening the CCC improves the profitability of the firms.
 
We analyzed a dataset of fraudulent credit card transactions to uncover patterns in fraudulent transactions and to demonstrate the importance of focusing on suspicious transactions. We argue that revealed patterns in fraudulent transactions may help financial institutions update their practices and develop innovative mechanisms and systems to improve their performance at preventing and detecting credit card frauds.
 
The very significant differences and diversities among countries and territories in the Caribbean region, in terms of political and economic ideological orientation, population size, level of economic development, prior or present colonial background, language, political status and the nature of educational system, are seen, by this study, as the factors that determine the profile of executive master of business administration (EMBA) degree programmes, and related programmes, in the Caribbean region. The main goal of this article is a qualitative comparative analysis of EMBA degree programmes and related programmes in various universities in the Caribbean region. The comparative analysis focuses on the differences that exist in terms of the structures, functioning, outputs and profiles of the EMBA degree programmes, as much as feasible. Furthermore, the article compares the profile and status of EMBA degree programmes in their respective business schools and also in their respective universities. The formal and informal linkages between the executive MBA degree programmes and business communities are also analyzed and compared, where feasible.
 
In this study we attempted to analyze the static and dynamic causality between producers’ prices measured by WPI and consumers’ prices measured by CPI in the context of India. We did our analysis in the framework of time series and for analysis, we applied ARDL bounds testing approach to cointegration and robustness of ARDL approach is examined through Johansen and Juselius (1990) maximum likelihood approach over the period of 1950-2009. We found the evidence of bidirectional causality between WPI and CPI in both cases i.e., in the short-run and long-run. Furthermore, outside sample forecast analysis reveals that in India, WPI leads CPI. This implies that WPI is determined by market forces and also a leading indicator of consumers’ prices and inflation. This gives an indication to the Indian policy analysts to control for factors affecting WPI in order to have control on CPI since CPI is used for indexation purposes for many wage and salary earners including government employees and hence it will be helpful in cutting down the excess government expenditure.
 
Firms striving to achieve and sustain competitive advantage implement supply chain management (SCM) practices. It is reasoned that these practices significantly improve product quality and customer service level and increase market share and return on assets, and as a result, firms’ overall performance has been improved. The role of leadership, particularly transformational leadership, on implementing SCM practices is unexplained in the literature. In this direction, this study reviews literature in the fields of leadership and SCM to collect and systematically organize the findings in relation to the characteristics of transformational leaders and efforts they make to implement SCM practices in pursuit of achieving competitive advantage. This study indicates clearly that transformational leaders significantly contribute for implementing SCM practices. Further, implications for practices and future research are offered.
 
HIV infection is characterized by various psychosocial features, namely, a gradual, long-drawn, incapaci tating, stigmatising and terminal nature. Undoubtedly, it presents numerous implications for various aspects of life. In terms of the workplace, complex ramifications are identifiable. HIV/AIDS increases costs, reduces productivity and investment, and influences labour participation. It also results in different kinds of dis crimination against positive people, such as denial of appointments and promotions, dismissals, isolation and abuse. Organizations have demonstrated a range of responses, depending essentially on their financial and human resource capacities. Overall, the attempt should be towards humanistic and empowering responses.
 
Top-cited authors
A. K. Sharma
  • Indian Institute of Technology Roorkee
Satish Kumar
  • Malaviya National Institute of Technology Jaipur
Muhammad Shahbaz
  • Beijing Institute of Technology
Deepak Chawla
  • International Management Institute
Rajen K Gupta
  • Management Development Institute Gurgaon