bluuebunny/crossref_metadata_2025 huggingface dataset:
Application of the Economic Value Added (EVA) Protocol in a University Setting as a Capital Budgeting Tool
Authors: Rompho Nopadol
Published: June 2010

This paper attempts to propose the uses of a capital budgeting tool, the Economic Value Added (EVA)for a university. Although there are reports of widespread use of the EVA in many for‐profit organisations, there is no evidence in literature that it has been adopted as a capital budgeting tool for a university. In this paper the application of the EVA for a university is proposed. It shows how the EVA can increase the awareness of the importance of asset utilisation in universities and guide universities to better resource management. EVA is proposed for use in a university setting in two different segments: for‐profit and non‐profit. The EVA has been adjusted with a new measure, Academic Value Added Ratio (AVAR) to reflect the university’s objective. The perception of academic staff in the case study university in Thailand with regards to the concept of applying the EVA to a university is further investigated. The results indicate that most members of management staff do not oppose this concept if it is implemented in a proper way.
Do Indonesian Firms Inflate Their Reported Earnings Prior to IPOs?
Authors: Warganegara Dezie L. , Indriastari Intan
Published: June 2010

This study attempts to provide evidence on earnings management of Indonesian firms one year prior to going public. The focus of this study is abnormal portion of accruals. These accruals are estimated using methodologies proposed by Dechow et al. (1995), and Kothari et al. (2005). This study finds no evidence that, on average, Indonesian firms manipulate their reported earnings to obtain higher proceeds from their IPOs. The findings stand even after size and leverage levels are considered in evaluating the incidences of earnings managements prior to IPOs. These findings support the arguments of Watts (2003) that empirical evidences show that public firms utilize conservative accounting and the practice becomes more conservative lately. It is also in line with Ball and Shivakumar’s argument (2005 and 2006) that the demand, for higher quality financial reports from public investors, forces IPO firms to improve their reporting quality prior to IPO and that regulation of publicly‐listed companies imposes greater requirements than non‐listed companies.
International textile and clothing research register
Authors: Stylios George K.
Published: June 2010

Examines the thirteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.
International textile and clothing research register
Authors: Stylios George K.
Published: June 2010

Examines the fifthteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.
Predicting corporate bankruptcy using artificial neural networks
Authors: Nasir M.L. , John R.I. , Bennett S.C. , Russell D.M. , Patel A
Published: June 2010

An appropriate use of neural computing techniques is to apply them to corporate bankruptcy prediction, where conventional solutions can be hard to obtain. Having said that, choosing an appropriate Artificial Neural Network topology (ANN) for predicting corporate bankruptcy would remain a daunting prospect. The context of the problem is that there are no fixed rules in determining the ANN structure or its parameter values, a large number of ANN topologies may have to be constructed with different structures and parameters before determining an acceptable model. The trial‐and‐error process can be tedious, and the experience of the ANN user in constructing the topologies is invaluable in the search for a good model. Yet, a permanent solution does not exist. This paper identifies a non trivial novel approach for implementing artificial neural networks for the prediction of corporate bankruptcy by applying inter‐connected neural networks. The proposed approach is to produce a neural network architecture that captures the underlying characteristics of the problem domain. The research primarily employed financial data sets from the London Stock Exchange and Jordans financial database of major public and private British companies. Early results indicate that an ANN appears to outperform the traditional approach in forecasting corporate bankruptcy.
Strategic investment decision‐making: Managerial judgement on project risk and return
Authors: Elaine Harris Professor
Published: June 2010

Until recently little attention has been given in Accounting and Finance literature to the problem of linking the results of financial evaluation techniques such as Net Present Value (NPV) and Shareholder Value Analysis (SVA) to managers’ cognitive evaluation of strategic factors and the risk profile of projects. Various authors have called for research in this area, but very little has so far been published. This paper reports on a field‐based study carried out in the logistics industry. It builds on earlier research, which elicited constructs that managers use to assess project risk using a repertory grid technique. It provides an insight into how a project risk analysis process can be linked with project returns in strategic investment appraisal (SIA) in a divisionalised organisation. An action research approach was taken to develop a decision matrix to link the risk assessment results to expected project returns as an aid to management in strategic investment decision‐making. It is now embedded in the investment appraisal procedures across the European group of companies that participated in the research. It is suggested that the framework adopted in this experimental study is transferable to other organisational contexts.
International direct taxation of e‐commerce: Developing a new conceptual model from marketing principles.
Authors: Pilkington Catherine , Farron Sue
Published: June 2010

The OECD is currently grappling with the problem posed by the rapid growth of e‐commerce, which undermines existing international taxation principles of source residency and permanent establishment. Although the OECD is examining the problem, its solutions to date fall short of suggesting significant changes to the basis of international taxation. It is argued in this paper that the existing conceptual basis of international taxation is inadequate to cope with the challenges presented by e‐commerce, and that new conceptual approaches are needed urgently. In this paper, we set out the nature of the challenge which e‐commerce presents to taxing authorities in respect of direct taxation, and we examine the nature of the OECD responses to the problem. We suggest that the basis of a new conceptual approach may be found in the examination of marketing principles, and proceed to construct a model of web site based economic activity. Our model, and the principles upon which it is based, suggest that international taxation of e‐commerce should be based upon the concept of ‘substantial economic presence’, and that this concept should replace the notions of residence and establishment.
The 10th CSEAR summer school 17th ‐ 19th September 2001 at the Kelvin Conference Centre, Glasgow University
Authors: Holland Leigh
Published: June 2010

The Centre for Social and Environmental Accounting Research has been running Summer Schools since 1992, when the first was arranged as part of the British Accounting Association’s Summer School programme to encourage new researchers to embark on a research career. Whilst the programme has developed over the ten schools so far held, the ethos has remained the same ‐ encouragement and stimulation in a co‐operative, academic environment. The summer schools have given new and experienced researchers the opportunity to present their ideas ‐ whether as completed papers or as some form of work in progress ‐ to a sympathetic audience in tune with the general themes presented. Mostly, the research forms part of the more general critical approach to accounting research, and participants are more comfortable both with presenting and critiquing ideas using a critical framework. This involves exposing ’conventional’ accounting wisdom and using different frameworks with which to examine what transformations may take place if other perspectives are applied. Having said that, there is a place to air research carried out from a managerialist outlook too, so that a reformist position may also be taken.
Conference report ‐ Designing a corporate governance course ‐ What do you think?
Authors: Holland John
Published: June 2010

During the Corporate Governance Workshop in Bangor on the 19th December 2000, and the March 27th SIG meeting at the 2001 BAA conference, the SIG made some progress in our attempt to design a high level corporate governance course. We wished to do this to establish a clearer focus for and higher quality communication within the SIG group, to acquire a common view of what the core of the field constituted, with the aim of improving the design of existing and emerging courses, and to identify new areas of research which linked SIG members. We recognised that ‘Corporate Governance’ comprises a very wide field and that we had to limit our course design in some way. As a result, we agreed to narrow the course design parameters and aims as follows. The course should consist of a 20 hour teaching module, have a corporate focus, reflect the interests of the SIG members, be aimed at the final year of a UK undergraduate programme in accounting and finance and emphasise this subject area and the teaching and research skills of staff in this field. We also expected that the course would make full use of available theoretical approaches, namely, contracting theory, institutional theory and critical theory, as well as relevant economics, law or sociology literature, without becoming hostage to one view. We therefore expected the course to have a solid inter disciplinary focus, but with the accounting and finance field at its heart.
The management of translation exchange rate risk in multinational companies: A note
Authors: Dhanani Alpa
Published: June 2010

According to academics, the translation form of exchange rate risk does not affect the market value of a firm and as a result should not be managed by corporate managers. Research to date, however, suggests that many multinational companies (MNCs) actively monitor and manage their translation exchange risk. Thus, either corporate management fail to understand the irrelevant nature of this risk or there are other factors that need to be considered. This paper extends the current literature by examining these issues; in particular, it examines whether MNCs continue to manage their translation exchange rate risk and if so what their reasons are for the specific practices. Results suggest that the gearing ratio, itself a measure of risk, is largely responsible for the management of the translation process. Further, some companies seek to manage their ‘profit and loss translation exchange risk,’ a ‘risk’ resulting from the impact of the translation process on the profit and loss account. Preferred management strategies include the currency denomination of debt and use of financial instruments such as forward contracts. Capital market imperfections reflected in binding loan covenants, agency theory problems and the assumption of inefficient market behaviour explain the observed corporate management behaviour.
Managers’ views on ABC in an insurance company: A grounded theory case study
Authors: Norris Gweneth , Innes John
Published: June 2010

This is an in‐depth case study using a grounded theory approach to explore managers’ views of ABC as part of the control system in an insurance company. Relevant issues are allowed to emerge from the data rather than imposing a theoretical framework upon them. Hypotheses are derived rather than confirmed. Issues emerging from this case study include: the relevance of ABC to managers, increased cost awareness coupled with the problem of taking qualitative factors into account, and the existence of different perceptions of managers within the same department. One hypothesis is how an understanding of ABC can affect job satisfaction by influencing the impact of ABC on managers’ actions. In this case study process and non‐process managers had different levels of understanding and use of ABC information. A second hypothesis is that how managers view ABC information depends on whether they adopt a personal or an organisational perspective.
An analysis of the reasons why UK companies use interest rate and currency swaps
Authors: Helliar Christine
Published: June 2010

The swaps market has been the world’s fastest growing financial market in the last few decades and the literature has sought reasons to explain this rapid growth. This study addresses this issue from a UK perspective and seeks to find out which UK organizations participate in the swaps market, why they choose to use it and the problems that they have encountered. The study consisted of a survey of the treasurers of 594 organizations in the UK. The most important reason why UK companies used swaps was to match their asset and liability cash flows and to stabilize their bottom line earnings. The results of this research will be of interest to both academics and to financial managers worldwide.
Barriers and catalysts to sound financial management systems in small sized enterprises
Authors: McChlery Stuart , Godfrey Alan D , Meechan Lesley
Published: June 2010

This study focused upon the role, function and scope of the financial management systems operating in the small business sector of the economy. The research sought to understand why in certain firms robust financial systems exist whereas in others they are seen to be weak. To this end the role of the accounting profession as it effects financial management systems was investigated. The study produced some interesting results. Bookkeeping systems adopted for financial accounting scored positively which may well be linked to the high preponderance of integrated computer systems adopted by firms. Management accounting systems did not score as well as financial accounting overall. Whilst smaller businesses were most likely to be dissatisfied with their management accounting systems, long established firms were as likely to be dissatisfied with their financial and management accounting systems than more recently established entities.
The management accounting implications of trust: An analysis of three applications and specification of a possible research agenda
Authors: Su Leen Tan Sulina , Woodward David G
Published: June 2010

The paper initially engages in a discussion of the different concepts of trust promulgated over the years via a review of the literature. Trust is then discussed in the context of three management accounting situations, viz. the typical transfer pricing situation; the (equally) typical budget setting process; and, finally, the rather more specific situation of the accounting information system (here utilising the concept of action at a distance) employed within a particular construction company. So whilst two of the management accounting applications examined are from a theoretical perspective, the third is empirically based (if only because of the dearth of theoretical literature available in the relevant domain)
Accounting for intellectual capital: Evidence from listed English football clubs
Authors: Shareef Fareeha , Davey Howard
Published: June 2010

In recent years there has been increasing focus on the importance of intellectual capital disclosure. The major resources of the football industry are human ‐ the players (as well as coaches and management) and supporters, yet the traditional accounting framework is largely ineffective in capturing these ‘hidden’ values. This paper reviews research on the quality and extent to which 19 listed professional English football clubs are reporting intellectual capital in their annual reports for the 2002 period. A disclosure index was developed and applied, giving scores for categories of disclosure and for the football clubs. The research findings suggest that components of intellectual capital were poorly reported by listed professional football clubs. External capital reporting was the highest scoring category, followed by human capital. However internal capital reporting scored the lowest. The research findings indicated a positive significant correlation between the size of clubs, club performance and their overall intellectual capital disclosure, in line with previous research in different industries. In conclusion, the importance of intellectual capital is recognized in the football industry as evidenced by the quality and quantity of IC disclosure by some clubs. However, the variability in reporting of different components of intellectual capital suggests that there is considerable room for improvement if the key resources of the football industry are to be truly reflected in the accounting system.
Interface between management accounting and strategic human resource management: Four grounded theory case studies
Authors: Vedd Rishma , Kouhy Reza
Published: June 2010

The objective of this research project was to ascertain the role of management accountants in relation to strategic human resource management (SHRM) and the information provided for SHRM. To achieve this objective four case studies (two UK and two Canadian organisations) were conducted using a grounded theory approach. The two most important HR strategies in these cases were training and leadership development, which were linked to the overall goals of each organisation. Management accountants played a key role in providing information for the SHRM planning process in all four cases. The role of management accountants during the strategic planning process was very much as integral team members with a facilitating role. In all four cases management accountants provided HR managers with information for decision making.
An analysis of lobbying behaviour ‐ The case of UK deferred taxation
Authors: Fox Alison , Grinyer John R , Russell Alex
Published: June 2010

This paper examines the lobbying behaviour of UK managers who commented on Accounting Standard Board proposals to re‐introduce full provision deferred taxation accounting. Although there were no direct cash‐flow implications associated with these proposals, they had the potential to affect a company’s reported net income and revenue reserves. Using published comments and financial statements data, the paper tests: (a) the conventional positive accounting theory gearing hypothesis, using debt/equity ratios and (b) a new dividend hypothesis that is presented in the paper. The findings did not provide support for the gearing hypothesis and are therefore consistent with recent work of various other authors. However, the new dividend hypothesis was supported and the paper therefore suggests that the potential impact that an accounting treatment has on the revenue reserves of a company, and thus its dividend paying capacity, is a plausible reason for observed lobbying behaviour in the UK.
Perceived success of costing systems: Activity‐based and traditional systems compared
Authors: Pierce Bernard , Brown Richard
Published: June 2010

The study was designed to examine specific issues relating to the usage and perceived success of activity‐based and traditional costing systems. Data were collected from management accountants operating at senior management level in large companies in manufacturing, financial services and other non‐manufacturing sectors.
Heading towards sustainability reporting: A pilot study into the progress of embracing the global reporting initiative in the United Kingdom
Authors: Turner Geoffrey , Vourvachis Petros , Woodward Thérèse
Published: June 2010

In the past decade much has been written on the need to develop social, ethical and environmentally responsible performance reporting frameworks that engage with all organisational stakeholders. The theoretical development of these frameworks has spanned nearly a century culminating in the release in 2000 of voluntary guidelines developed by the Coalition for Environmentally Responsible Economies and the United Nations Environment Programme through the offices of the Global Reporting Initiative (GRI). The release of the sustainability reporting guidelines perhaps could not have been more inopportune insofar as it coincided with a concerted effort on the part of the accounting regulators toward global harmonisation of financial reporting standards. This paper reports the findings of a survey of Company Secretaries and company provided information examining the extent to which these guidelines have been adopted by the leading public companies in the United Kingdom. The findings suggest limited acceptance and in the resource‐constrained environment of the twenty‐first century business implementation of mandatory requirements are given priority. Further research needs to be conducted to determine whether the GRI has a role to play in future stakeholder engagement.
Financial statement analysis and accounting policy choice: What history can teach us
Authors: Brown Rhoda , Whittington Mark
Published: June 2010

The choice of accounting policies by a company has implications for the market’s understanding of corporate performance. Whilst the critical areas of choice may change over time with new developments and changes in standards, the underlying issue remains relevant. This paper examines the effect of accounting techniques upon the relationship between accounting variables and UK share prices.
Determinants of accounting choices in Egypt
Authors: Dey Colin. R. , Grinyer John R. , Sinclair C.Donald , El‐Habashy Hanaa
Published: June 2010

In recent years, Egypt has been developing rapidly from a socialist to a fully developed market‐based economy. One may expect that this economic transition towards a more capitalist orientation will influence the country’s cultural and socio‐economic environment, and consequently the behaviour of its corporate managers. The increasing separation of ownership and control of capital could be expected to increase agency problems associated with managerial decisions. In these circumstances, it should be interesting to identify whether ‘positive accounting’ hypotheses would apply in such an environment. Therefore, this paper examines the relevance to financial reporting in Egypt of some established positive accounting theory hypotheses in addition to a new hypothesis related to taxation. The evidence of the study is consistent with the validity of the conventional ‘bonus’ and ‘debt’ hypotheses and the new ‘taxation’ hypothesis. These conclusions are also consistent with recent empirical studies of cultural and socio‐economic change in Egypt.
Manipulation of earnings reports in Spain ‐ Some evidence
Authors: Amat Oriol , Perramon Jordi , Gowthorpe Catherine
Published: June 2010

Accounting regulation is a highly topical issue for listed companies in Europe. From 1 January 2005 all companies listed in the EU member states have been required to produce financial reports compliant with international accounting standards. Financial reports will be comparable with each other only if full compliance with the international standards can be ensured. Historically, however, an enduring weakness of the international standard‐setting regime has been its inability to enforce compliance with its standards. There is a danger that implementation and compliance will be variable across the adopting countries, and that deeply ingrained national reporting practices will persist. Where such practices include a high incidence of earnings management techniques and behaviours, any improvement in the quality of reported financial information may be slow to materialise.
Facing up to new realities: The case for using relevant cost and target cost approaches in agriculture
Authors: Jack Lisa , Jones James V.H.
Published: June 2010

The use of management accounting in the agricultural industry has received very little attention by accounting researchers. Agriculture is currently in an era of significant change and adjustment, where change in accounting practice needs to occur in response to external pressures. The traditional use of the gross margin system of accounting has tended to underline a notion that has had a powerful influence on farm business planning that most costs are fixed and that the best way of reducing them to achieve profit maximisation is to spread them by increasing the scale of operation. This logic has been supported by an economic environment heavily influenced by agricultural policy measures that focused on artificial support for market prices and/or direct payments linked to production activities. We argue that the decoupling of support from production has combined with a number of other changes related to payments and cost structures (including those linked to the recent dramatic rise in the price of oil) to provide a very different economic context for farm business planning. The response we advocate to this changed situation is to make greater use of two alternative methods of cost analysis; namely relevant costing and target costing. These have been developed and applied outside agriculture. They have not so far been used in a formal sense within agriculture but have links to existing methodologies used in farm business planning, such as partial budgeting, and in intuitive approaches already adopted by farmers as revealed in recent fieldwork.
A survey of environmental accounting and reporting in Bahrain
Authors: Gibbon Jane , Lal Joshi Prem
Published: June 2010

This survey examines the environmental awareness, current disclosure practices and problems associated with environmental accounting and reporting of twenty large and medium sized companies from the industrial sector in Bahrain. A review of literature from Western and Asia‐Pacific regions indicate a low level of environmental disclosure practices but there has been a considerable increase in the number of organisations performing environmental accounting and reporting. The present survey reveals that companies in Bahrain are environmentally sensitive, yet none of the companies are actually performing environmental accounting for external purposes. Half of them stated that they prepare environmental reporting for management requirements. A majority of them were strongly in favour of introducing accounting regulations in this area. Over 85% of them stated that both financial and non‐financial information should be reported. However, quantification and provision of information is both costly and subjective. The study concludes that in an unregulated environment, accountants and management of companies in Bahrain are likely to be less than objective in their environmental related disclosure practices in future.
Changes in the pattern of recruitment, regulation of training and examination of ICAEW students: For whom the pendulum swings
Authors: Lee Bill , Brooks Michelle
Published: June 2010

The patterns of ICAEW Education and Training (E&T) reforms are traced through the nineteen‐seventies, nineteen‐eighties and nineteen‐nineties. The three decades are explained respectively as periods of: uniform rises in entry and examination standards; greater regulation of training relationships and the introduction of a technician qualification with an initial second class status; and deregulation and attempts at specialization. Syllabus reforms are attributed to the changing needs of larger firms and are presented as favouring large firms’ students, often to the detriment of smaller firms’ students, while other E&T reforms are seen as favouring either firms or their students. The cumulative effects of past E&T reforms, that either small firms or their students are net losers, may be overcome by redistributing training costs from small firms to large firms when syllabus changes are made.
An investigation into the stock market reaction to press notices issued by the Financial Reporting Review Panel
Authors: Hines Tony , McBride Karen , Page Michael
Published: June 2010

The Financial Reporting Review Panel (‘the Panel’) was set up in 1991 as part of the new regime under the Financial Reporting Council, with the objective of improving the quality of financial reporting in the UK. Arguably, the Panel was the most radical innovation since it was concerned with the previously not addressed issue of the enforcement of financial reporting regulations. However, it has no direct powers of enforcement and is funded at a level at which it can only react to complaints about company accounts rather than seek out problems. While the Panel has been granted powers to take companies to court with a view to compelling them to revise their accounts, these powers have not been exercised. Nevertheless, there is some evidence that its existence encourages companies to be more scrupulous about compliance with accounting standards and relevant company law before publishing their annual reports. Explanations for compliance include the possibility that adverse findings by the Panel result in economic damage or loss of reputation to the company or its management. This paper investigates a key aspect of possible economic damage: that press notices issued by the Panel about individual cases have an adverse effect on the share price of the company concerned. A share price event study was carried out on 33 companies that, since the inception of the Panel, had been the subject of press notices. We have found no evidence of an adverse share price reactions following the publication of press notices. Improvements in compliance may be attributable to other reasons, one possibility being the belief by management that an adverse finding will affect the share price.
Aesthetic evolution and its infusion in consumer durable
Authors: Ganesh Das G. , Baisya Rajat K. , Chandra B.
Published: June 2010

This paper explores some aspects of aesthetics, its qualities and attributes in case of a consumer durable and the association of some attributes and quality with one another. Attempt is also made to understand the extent to which these play a role in designing a consumer durable. The attribute beauty, quality, feel and experience emerged important, whereas in the case of qualities of aesthetics beauty, order and symmetry, definitions, form proportion, finishing and unity of various parts emerged important. Amongst attributes, feel and experience has the highest association with other attributes of aesthetics. The correlation between qualities of aesthetics established that there is association between all the qualities of aesthetics, which confirms interrelationship with each other.
Comparing total quality management success factors in UK manufacturing and service industries: some key findings from a survey
Authors: Antony Jiju , Fergusson Craig , Warwood Steve , Hing Yee Tsang Joanna
Published: June 2010

Total Quality Management is an integrative managemetn philosophy aimed at continuously improving the performance of products, processes and services to achieve and surpass customer expectations. Very little has been published on the fundamental difference between manufacturing and service industries with regard to TQM implementation. The purpose of this study is to understand the concept of TQM in both industry sectors and to identify the significant differences (if any) in TQM practices in UK service and manufacturing organizations. The research is based on a pilot survey conducted in both industrial sectors. It was found that five out the eleven management factors are significantly different between manufacturing and service industries. They are top management commitment and recognition, supplier partnership or supplier management, quality systems and policies, communication in company and cultural change. It was also found that “customer focus’ is the most important factor and “supplier partnership/supplier management” is the least important factor for TQM practice in both manufacturing and service industries in the UK.
Structural change in techno‐production of Japan’s automotive industry
Authors: Kwintiana Ane Bernadetta , Watanabe Chihiro
Published: June 2010

While Japan’s automotive industry increased its production during the bubble economy period in the late 1980s, it changed to dramatic decrease due to the bursting of the bubble economy in 1991 resulted in substantial decrease in its international competitiveness. Such dramatic change has urged Japan’s automotive industry to increasing expectation to agile product development (APD) technology implementation. At the same time, dramatic increase in global technology spillover in a globalizing economy has also urged Japan’s automotive industry to effectively utilize technology from the global marketplace. These complicated circumstances highlighted the significance of the effective utilization of potential resources in innovation and require Japan’s automotive industry to restructure its business strategy. These streams prompt us the following hypotheses with respect to the key direction of Japan’s automotive industry restructuring: (i) Increasing expectation to APD technology implementation urges further increase in technology stock; (ii) Challenge to APD technology implementation leads to increasing dependency on spillover technology in the world market; (iii) A disruption of the optimal balance between indigenous technology and effective utilization of assimilated spillover technology leads to decreasing the productivity of technology stock. On the basis of the empirical analysis of techno‐production structure of Japan’s automotive industry over the period 1982‐2000, this paper attempts to demonstrate these hypotheses. Consequently, the optimal trajectory of Japan’s automotive industry in maximizing the effective utilization of potential resources of innovation in an unbounded global economy is suggested.
Financial management practices in public sector enterprises: a study of capital budgeting decisions
Authors: Jain P.K. , Yadav Surendra S.
Published: June 2010

Capital budgeting decisions affect the profitability of a business organization. Since these decisions are related to fixed assets, they have direct bearing on earnings since it is fixed assets which earn profits for the enterprise. Besides, these decisions relate to the commitment of large amount of funds for long period of time. Therefore, a wrong decision can have long lasting effect not only on the profits but on very survival of the organization. On the other hand, sound capital budgeting decisions will have a very salutary effect on its wealth creation. This paper presents a study done on a sample of 137 public sector enterprises. Primary as well as secondary data have been used for the purpose. The study covers a period of 13 years from 1991 to 2003.
Indian garment business response: perceptions on the emerging issues the post‐MFA scenario
Authors: Muchsin  , Jain Sudhir K.
Published: June 2010

Garments industry is important for developing countries as well as developed countries as it contributes significantly to the employment generation and economic growth. This industry has long been regulated by consecutive international agreements such as Multi Fiber Arrangement (MFA), which is scheduled to be phased out by 2005. Thje dismantling of MFA (quota) regime seems to bring more threats to developing countries. Emerging issues related to environmental and social compliance (e.g. minimum legal wage, employee’s work life, health), technology requirements etc. have been brought into surface by the importing countries fiz. developed countries. Although it is too early to predict, the adverse effect has been felt by India since the beginning of MFA phase out. The aim of this study is to assess the understanding and responses of the garment exporters in India towards the emerging issues. Factor analysis was used in this analysis. Construct validity and sample adequacy were performed using KMO value. Six factors have emerged from the analysis. On the basis of these six factors, the perceptions of the importers in India were also analyzed and subsequently compared the same with the exporters’ perception. Under Radar Diagram the results of the difference have been analyzed.
Indian corporate environmental and financial performance: empirical relationship between them
Authors: Sahay A. , Singh N.P.
Published: June 2010

Conventional wisdom suggests that there is a conflict between the goals of environmental protection and economic competitiveness. But proactive industry leaders argue that this is not true as long as state policy creates a level playing field. In fact, certain progressive firms have adopted state of the art technologies for pollution abatement without bothering for the return on investments. On the other hand, industrial segments that are lagging behind in environmental performance do not feel any public pressure to improve. It is believe that the corporate world understands financial language much better than the legal or the environmental language. Therefore, it was thought prudent to make a study to understand the relationship between Environmental and Financial Performance of companies. The present article, after considering the green rating done by the Center of Science and Environment has examined the relationship between the Environmental and Financial performance of these companies. The empirical analysis with limited data available, however, failed to establish direct relationship between the two. However, it gave insight to various environmental parameters and the direction for future research in the field.
Entrepreneurship, innovation and marketing: conceptualization of critical linkages
Authors: Swami Sanjeev , Porwal Rajesh K.
Published: June 2010

The objective of this article is to develop a conceptual analysis of entrepreneurship, innovation, and strategic marketing, and examine their critical linkages with each other for the success of an organisation. Understanding of each of these areas and their linkages is important as they collectively provide value to the customer. We first discuss the concept of innovation, its sources and its types such as radical and incremental innovations. The entrepreneurial, technological and strategic concepts behind the central aspect of the innovation concept are then discussed to provide the relevant theoretical background. The ensuing discussion of entrepreneurship and its challenges in the context of dot‐com phenomenon helps us examine the critical linkage between innovation and entrepreneurship. We then discuss the marketing concept, its evolution and practices. Finally, a strategic marketing process framework has been proposed as a normative roadmap to be followed by entrepreneurs and managers for successful marketing practice.
E‐CRM vendors: a contemporary study
Authors: Kumra Rajeev
Published: June 2010

The potential impact of E‐CRM on cost savings, revenue growth, and increased customer’s convenience has generated considerable interest and speculation across the industries. The immense growth of E‐CRM market has opened new vistas of business for E‐CRM vendors. However, with plethora of vendors and products available in the market it makes the choise of the companies difficult. The present study after reviewing the literature of E‐CRM attempts to do a comparative analysis of various E‐CRM vendors.
Financing ventures in India: needs, ground reality and challenges
Authors: Momaya Kirankumar , Bardeja Kapil
Published: June 2010

Emerging competitive era post‐liberalization offers lot of opportunities and challenges for firms, organizations and their stakeholders in India. Ventures can be a vehicle for achieving innovation and competitiveness and are growing rapidly. Access to quality financing is a key success factor of such ventures and remains an area of weakness in India. Findings and learning of an attempt to look into problems and issues of financing ventures are presented in this paper. Primary data collected from fieldwork across key cities in India is complemented by analysis of secondary data collected from India and abroad. Balancing the Western and Eastern views, implications are drawn for key stakeholders. There is urgent need for scale‐up on funding for seed stage, systems for effective cooperation among key stakeholders, and overall environment and infrastructure, if innovative products/services from India are to make a mark on global level and ventures are to meet aspirations about competitiveness.
Are equity investments well‐timed? a study of timing parameters of equity mutual funds in India
Authors: Sondhi H.J. , Jain P.K.
Published: June 2010

Financial performance of equity mutual funds depends upon the aggregate performance of individual stocks held in the mutual fund portfolio. Rate of return and risk‐adjusted returns are widely used parameters of fund performance. These measures of financial performance, inter‐alia, depend upon the market timing skills of the fund managers. Different studies world over have shown different outcome regarding abilities of the fund managers to produce performance superior to the benchmark portfolio due to their market timing skills. This research paper examines market‐timing skills of the fund managers of diversified equity funds operating in India. An analysis is based on sample of 36 equity mutual funds drawn from 21 asset maangement companies. Secondary data has been used in the study. The period of study is 9 years, 1993‐2002. T‐tests have been performed to assess significance of the timing parameters.
Modeling and simulating the dynamics in project monitoring and earned value analysis
Authors: Jigeesh Nasina , Bhat M.S.
Published: June 2010

Project monitoring is one of the important activities in the management of a project and its main objective is to supply the necessary information for proper control of the project based on the project plan. Monitoring of a project covers different issues related to costs, resources, problems, progress etc. All these issues are dependent on many other sub‐issues and any changes in any of them influences the whole project monitoring system. EArned value analysis is one of the tools used for monitoring the progress and costs of the project is composed of several factors. In the present work, the activity of project monitoring has been treated as a general system and earned value analysis as a specific system for modeling and simulating the dynamics involved therein. System dynamics methodology has been applied for this purpose. A case study has been conducted on a real‐world software project in an IT organization. The results show that the system of earned value analysis is highly influenced by the variations in the estimated cost of unit effort, delay in an activity and estimated effort of work package.
Evaluation of private sector participation models in highway infrastructure in India – a system dynamics approach
Authors: Iyer K.C. , Balamurugan R.
Published: June 2010

A good and efficient road network forms the primary infrastructure that propels the development process in a country. There has been a rapid increase in the demand for highway infrastructure in India as freight traffic increased 180 times and passenger traffic increased 132 times between 1951 and 2000, whereas the total length of the road has just gone up by 8 times for the same period. Further to this, with the conventional way of depending on Government fiscal budgets for development of highway infrastructure having become impractical, Private Sector Participation (PSP) is the only effective solution to meet the rising infrastructure demands. Private sector participation in highway infrastructure projects in India has been observed presently under two major formats: BOT – Toll based and BOT – Annuity based models. BOT – Toll based model has been seen to be a failure in terms of expected returns to the concessionaire whereas the relatively newer Annuity model has been found to be attractive to the private sector. However, there exists an ambiguity whith respect to their suitability in a given case and in decision‐making. Using System Dynamics approach a framework is developed that would enable the decision maker to decide particular type of prievate sector participation (PSP) m odel for a given highway project. It is observed that the concessionaire’s desired rate of return and the traffic growth projections are the key parameters in selection of PSP model.
Managing risk factors in ERP implementation and design: an empirical investigation of the Indian industry
Authors: Raj Singla Ashim , Goyal D.P.
Published: June 2010

Enterprise Resource Planning (ERP) systems, which has became a buzzword in the late 1990, are the most integrated information systems that cut across various organizations as well as various functional areas. Small and medium enterprises, competitor’s behavior, business partner requirement are the identified and established dimensions that affect ERP systems. Further it has been observed that ERP systems prove to be a failure either in the design or its implementation. A number of reasons contribute in the success or failure of an ERP systems. Enterprise resource planning systems inherently present unique risks due to tightly linked interdependencies of business processes, related databases, and process reengineering, etc. Knowledge of such risks is important in design of system and program management as they contribute to success of overall system. In this paper an attempt has been made to study the design and implementation risks factors for ERP systems in Indian organizations. For this two public sector companies namely PUNCOM and PTL located in northern India have been selected. Based on the model used to study ERP risks and thus the findings, various recommendations have been put forward to suggest a strategy so as to mitigate and manage such risks.
A study of the need of internet security for consumers at various levels
Authors: Tripathi Abhishek , Dubey Sanjay
Published: June 2010

To put in common man’s language, Internet is a global network of computers; all of them speak same language. The real power of Internet is that it is available to anyone with a computer and a telephone. As Internet is proliferating like a web through out the globe, so will the complexity of the cyber laws, many countries have already laid down cyber laws including India. Security is the single biggest obstacle for the growth of e‐commerce. The Internet security is one of the most unfolded topic for the business environment. Every industry is demanding the Internet security based policies. The growing danger from crimes committed against computers, or against information on computers, is beginning to claim attention in national capitals. In most countries around the world, however, existing laws are likely to be unenforceable against such crimes. This lack of legal protection means that businesses and governments must rely solely on technical measures to protect themselves from those who would steal, deny access to, or destroy valuable information. Self‐protection, while essential, is not sufficient to make cyberspace a safe place to conduct business. National governments should examine the current statutes to determine whether laws are sufficient to combat all kinds of crimes.