Articles
Table Of Contents
PRICING AND DISCOUNT PRACTICES OF SCIENTIFIC INSTRUMENTS INDUSTRY IN AMBALA CANTT

Karnika Gupta and Ishu Garg

Volume 40, Issue 2 (July 2019 to December 2019)

Abstract

Download Article

The present study is a humble attempt to examine the pricing and discount related practices of manufactures from the scientific instruments industry in Ambala Cantt in the state of Haryana. It divides the manufacturing units into micro, small and medium (MSME) enterprises, and compares the level of their practices. For accomplishing the purpose, a sample of 150 units is selected. Collected data are analyzed by using descriptive statistics (mean, standard deviation), and inferential statistics of ANOVA and Post Hoc Test. Results indicate that ‘skimming’ and ‘cost-plus’ pricing methods are highly employed in the industry; whereas, ‘penetration pricing’ is least preferred. Likewise, ‘quantity discount’ and ‘cash discount’ are in high preference, and ‘seasonal discount’ practice is rarely used. These are the medium units who apply all the pricing and discount practices firmly. Small units are also on their track. But, micro units lack behind in the level of usage of different practices. Hence, it is implied by the findings that micro units simply follow their counterparts. Correspondingly, this paper calls for further research to understand the complications involved in the decisions, and finding the solutions of enterprises’ problems.

Proactive Approach to Corporate Social Responsibilities (CSR) Spending post-Legislation mandating CSR

Jyotika Bahl and Vijay Kumar Kaul

Volume 40, Issue 1 (January 2019 to June 2019)

Abstract

Download Article

The recent legislation making CSR discharge mandatory for qualifying firms has been a game changer as it requires all qualifying firms to form a CSR committee for planning and executing the CSR function. Different modes of implementation have been provided for discharging CSR namely- through other implementing agencies or directly. Firms generally choose between different implementing strategies depending on the cost benefit analysis, nature of activity, requirement of expertise, resources, etc. Since the CSR committee weighs the cost and benefits associated with each strategy, the effect of different strategies should be positive on CSR. This paper attempts to understand the effect of different strategies adopted by the firms on CSR. The result of the logistic model reveals a positive impact of the two strategies- directly and other implementing agencies on the probability of the firm to spend more than 2% on CSR or proactively perform CSR.

TESTING FINANCIAL INTEGRATION BETWEEN STOCK MARKET OF INDIA AND JAPAN: AN EMPIRICAL STUDY

Lovleen Gupta and Rohit Kumar Shrivastav

Volume 38, Issue 2 (October 2017 to March 2018)

Abstract

Download Article

Growth of a country is dependent upon several factors like economic condition, financial environment, institutional infrastructure and also most importantly the growth of Industries in the country and growth of the industries is basically depended upon climate of capital market of the country because this market actually provides an element which is most important for the success and failure of every industry i.e., funds. The present paper tries to analyse the scope of financial integration between Indian stock market (NSE) and Japanese stock market (Tokyo Exchange) by taking daily closing index of NSE and TSE. This paper further made an attempt to explore existence of dynamic interlinkages and causal relationship between the Indian Stock Market (NSE) and Japanese stock market (Tokyo Exchange). Tokyo Securities Market being 4th largest exchange in the global stock market and the largest in Asia too. In line with this, India is also having sophisticated stock exchange which is National Stock Exchange. It is the finest and most advanced and automated exchange of the world too which is ranked 12th in the world. We applied ADF test for stationarity of data series and found stationary at first difference. Descriptive statistics showed NSE market provide little bit higher returns than TSE market. Correlation between NSE and TSE indices is coming out to be +0.804784. Testing results of Granger Causality explained that TSE Ganger causes return at NSE and NSE also Granger causes return at TSE. We examined Co-integration and found a cointegration relationship between NSE and TSE. Therefore, during the study we found an evidence of financial integration between the market of India and Japan

COUNTRY RISK ANALYSIS IN G7 & BRICS NATIONS: A MULTI-DIMENSIONAL APPROACH

Anshuli Singh

Volume 40, Issue 2 (July 2019 to December 2019)

Abstract

Download Article

In times of uncertainty, the risks related with participating in international operations have increased considerably. Additionally, such risks have moved towards becoming progressively hard to analyse and foresee for decision makers in the universal financial network. Country risk fundamentally showcases the risk state of an economy. In global business, the risks emerging from the national variations in monetary structures, arrangements, natural ecologies and social societies may change the outlook for success of a given venture or business. Analysing the country risk of foreign nations becomes crucial to investors for strategically planning their investments. Taking this complexity of country risk analysis, the current paper proposes an index for country risk, consisting of 12 nations under the Group of seven (G7) and BRICS nations. The CRI is compiled on the basis of seven risk dimensions namely: political, economic, social, technical, environmental, legal & financial and within these seven dimensions, 10 indicators are analysed to calculate the CRI for these 12 nations for even years from 2012 to 2018. All data used in this study is secondary and all sources have been acknowledged. Analysis is done in Microsoft Excel 2016. Ultimately, rankings are allotted to these economies, for both groups together and separately, to present a comprehensive analysis of country risk in these nations.

Corporate Governance and Sustainability Tourism Marketing: An Analysis and Review of Recent Literature

Jatin Vaid, Davinder Kumar Vaid and Subodh Kesharwani

Volume 40, Issue 1 (January 2019 to June 2019)

Abstract

Download Article

The present research paper comprehensively reviews the academic work on Corporate Governance and Sustainability Tourism Marketing and presents a précis of 60 research papers published in 29 reputed international journals, over a period of ten years, from 2007 to 2016. Tracing the concepts of corporate governance and sustainability, a detailed discussion of the importance and challenges in implementing sustainability marketing strategies in fast-paced tourism industry is illustrated with classification and pictographic models. A rigorous research in internationally reputed databases has been carried out to select research papers for reviewing them. Text books, international reports and research papers published in international journals only have been included for review. The literature for review spanned a period of ten years, from 2007 to 2016. The studies have been carried out in 23 countries and published in 29 International journals and include both empirical and conceptual papers. Findings suggest that there has been a general increase in the momentum of research in the area till 2015, with a sharp rise in 2008; Most researches have been authored by two or three authors; Majority of the studies have been carried out in the US and UK; A large number of research papers are Empirical and quantitative in nature; ‘International Journal of Contemporary Hospitality Management’; and ‘International Journal of Hospitality Management’ have published the highest number of researches. The paper concludes with highlighting developing trends; Directions for future research; and shortcomings of the present study.

Determinants of External Debt in India

Swami Prasad Saxena and Ishan Shanker

Volume 41, Issue 1 (January 2020 to June 2020)

Abstract

Download Article

This paper uncovers theoretical foundations of the factors influencing external debt and presents empirical model of the macroeconomic determinates of external debt in India for a period from 1990-91 to 2016-17. The OLS model reveal that gross fiscal deficit, net domestic savings, net domestic capital formation, exports, imports, real effective exchange rate, foreign exchange reserves, net terms of trade, consumer price index, debt service ratio, net foreign direct investment, gross domestic product and real interest rates (LIBOR) are the prominent macroeconomic variables and they explain 62 percent of the total systematic variations in India’s gross external debt.

AN EMPIRICAL ASSESSMENT OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON EMPLOYMENT IN INDIAN PHARMACEUTICAL INDUSTRY

Neha Sharma and Amarjit Singh Sidhu

Volume 38, Issue 2 (October 2017 to March 2018)

Abstract

Download Article

Indian economy has witnessed a positive shift in the perception of the role played by Foreign Direct Investment (FDI) from an era of concern and suspicion to the most important source of external finance for developing countries. Associated with bringing positive externalities and greatly augmenting domestic capital, FDI is sought by many countries. In the present scenario, employment creation is regarded as one of the important potential contributions made by FDI to the host economy. Thus, the study makes an attempt to analyze the impact of Foreign Direct Investment on employment in Indian Pharmaceutical Industry using recent firm level panel data for the time frame of fifteen years (2001-2015). Our analysis broadly concludes that increased FDI flows have led to higher levels of employment. It is also observed that export intensity and size positively affect the employment while capital intensity has a negative impact. A significant policy direction that emerges from the study is that in order to improve the employment, exports in the labor intensive industries should be encouraged.

PERCEIVED CONSUMER EFFECTIVENESS IN INDIAN MARKET: AN ANALYSIS

Karnika Gupta and Narendra Singh

Volume 39, Issue 2 (July 2018 to December 2018)

Abstract

Download Article

This paper examined perceived consumer effectiveness, and objectively worked upon investigating levels and segments of consumers as per construct. For the same, data from 300 respondents was collected and analyzed. Principal Component Analysis suggested that construct PCE was firmly measured by the statements. Descriptive statistics investigated a moderate level of perceived consumer effectiveness among Indian consumers. Further, Cluster Analysis suggested two segments designated as effective and ineffective in this paper. Effective segment has high PCE in comparison with ineffective segment, as analyzed by inferential statistics of z-test for difference between two means. Owing to findings, the requirement of a law for “protection by consumers” is implied, and further research directions are suggested.

Dynamics of External Commercial Borrowings in India

Swami Prasad Saxena

Volume 41, Issue 2 (July 2020 to December 2020)

Abstract

Download Article

This paper is an attempt to empirically examine the trends and Intricacies of ECB in India. It also tries to analyze the possible effects of new ECB policy announced on 16 January 2019. The study observes that ECB flows in last about three decades have been highly volatile, and the share of ECBs in the total external borrowing in India is rising fast. Though, government is progressively relaxing the ECB norms to boost the economy, there is need of careful management of ECBs by corporates as well as the government. While applying for ECB the corporates need to be cautious about the exchange rate risk and impact on balance sheet debt to use ECBs effectively; the government too should not be unmindful of the dangers of increasing reliance on such borrowings with external risks.

BRANDING: AN IMPORTANT ASPECT OF CONSUMER BUYING BEHAVIOUR TOWARDS BRANDED APPAREL

Aishvarya Bansal and Santosh Sabharwal

Volume 38, Issue 2 (October 2017 to March 2018)

Abstract

Download Article

Purpose of this study is to deliberate upon the young consumer behaviour towards branded apparel in Delhi and NCR & to understand concept of branded apparel, to observe brand awareness for different apparel brands, to analyse factors responsible for brand recognition, discover significant factors which persuade a consumer to choose any brand among from available brands; to study factors creating brand association & to analyse how brand loyalty is beneficial to marketers. The study is descriptive in nature based on primary data for analyses of results. A structured questionnaire was formulated using likert scale, multiple grid, multiple choice questions administered to 400 young consumers (Age 15-34 Years) including both males and females varying from professional, businessman, student or job seekers using conveniencе sampling from differеnt placеs of Dеlhi and NCR. The results were analysed based on demographic profile (work status, age, gender, education and income) which was the subject under study for this paper. This vital information can help the companies in better understanding customer needs & deliver them the products. Today buying has become a delightful experience rather than mere satisfaction. Following the еntry of sevеral new brands, the brandеd segmеnt has grown at 25% annually. This represеnts a shift from unbrandеd to the brandеd segmеnt which is mainly due to factors like, rising income levels of Indians, changing demographics, improvements in standard of living and increasing brand consciousness especially for young consumers in Delhi and NCR. Thus, marketer’s should devise attractive consumer strategies to bring more loyalty towards their brands in young consumers to avoid brand shifting. Brand loyal consumers respond positively to a brand changes in terms of price, quality, competition, variety. This study is also useful for the researchers in understanding the entire branding process and how each stage in branding is important to ultimately ensure brand loyalty.