bluuebunny/crossref_metadata_2025 huggingface dataset:
Do Ethical Funds Underperform Conventional Funds? - Empirical Evidence from India
Authors: Vanita Tripathi  , Varun Bhandari
Published: September 2019

One of the significant developments in the investing community is the rise of socially responsible or ethical investments during last two decades. Because of the increasing size and importance of ethical mutual funds, this paper seeks to evaluate and compare the performance of ethical mutual funds with general funds and benchmark index (S&P BSE Shariah 500 Equity Index) in the Indian market. The sample comprises six ethical fund schemes and three general fund schemes of Tauras mutual fund over the period 2009-2014 using weekly NAVs. The study uses return, risk, risk-adjusted measures (Sharpe ratio, Treynor ratio, Jensens alpha and information ratio), Famas decomposition measure, paired samples t-test, and growth regression equation to accomplish the objectives. The findings suggest that some of the ethical funds generated significantly higher return than other funds and benchmark index. Despite having higher risk, ethical funds outperformed other funds and benchmark index on the basis of various risk-adjusted measures and net selectivity returns. This indicates that the compromise made with respect to diversification by investing in ethical funds was well rewarded in terms of higher returns in Indian context. Our findings lend support to the case of ethical investing in India. Mutual funds and other investment funds should launch schemes which invest in socially responsible or ethical stocks.
Empirical Analysis of Corporate Social Responsibility Influencing Not for Profit Organisation: A Case Study of Manipur, India
Authors: N. Tejmani Singh  , Chinglen Pukhrabam Singh
Published: September 2019

In the fast changing business scenario, business ethics and value based education form the foundation of a civilized society. This will find a focus in Training Programme under topics Corporate Social Responsibility in the light of The Companies Act 2013. They need to recognize the need to create organizations where ethical decisions are not undermined but are encouraged and promoted. They turned vibrant and actively functional as local governance modules. To realize the Government of Indias mission and Modis mantra of development Make in India, corporate sectors should spend Corporate Social Responsibility (CSR) money which is 2% of net profit currently on Swachh Bharat Abhiyaan. State Government should facilitate field visits by Embassy officials of those countries who issued travel advisories to their nationals against visiting states in the northeast region of India. In response to the demands of this new social system, NGOs begin to wonder what a responsible organization is like, as an exercise of assumption of its responsibilities. For the third sector, the starting point of social responsibility is the coherence between the values and the social proposal being done from their action fields: cooperation for development, social, human aid or environment.
Measuring Efficiency of Primary Milk Cooperative Societies: A Case Study of South Goa
Authors: Suraj M. Popker  , Guntur Anjan Raju
Published: September 2019

This paper endeavors to measure efficiencies of primary dairy milk cooperatives societies using the non-parametric technique of data envelopment analysis and attempt is also made to have the comparative picture as dos audit report correctly reflect the efficiency of primary dairy cooperatives societies in audit classification. The empirical results show that 13 of the 20 primary dairy cooperatives are found to be efficient and, thus, define the efficient frontier of the primary dairy cooperatives, with the TE scores range from 0.404 to 1, with an average of 0.936. As far as comparative study of efficiency and audit classification is considered it is found that audit classification dos not reflects the efficiency of primary dairy societies.
Performance of Socially Responsible Portfolios Across Sectors in Indian Stock Market
Authors: Vanita Tripathi  , Bhandari Varun
Published: September 2019

The question of whether socially responsible stocks outperform or under-perform general stocks has been of keen interest for various researchers and academicians. This paper seeks to empirically examine the performance of socially responsible portfolios across various sectors and index of socially responsible and general companies in Indian stock market. We have taken up S&P ESG and CNX NIFTY as the indices of socially responsible and general companies respectively. ESG index has been classified into six different sectors on the basis of GICS. Performance has been evaluated in terms of risk, return and various risk-adjusted measures like Sharpe ratio, Treynor ratio, Double Sharpe ratio, Modified Sharpe ratio, M2 measure, Jensens alpha, Famas decomposition measure, etc. We have also checked whether market model is sufficient to explain cross sectional variation in stock returns or we need Fama-French three factor model. The study period ranges from January 1996 – December 2013 and it is further divided into different sub-periods. We find that socially responsible stocks across IT, FMCG and financial sectors are well rewarding in Indian stock market by generating significantly higher returns and outperforming the two indices on the basis of risk-adjusted measures employed during 18 year period and different sub-periods. The results uphold even with the use of market model and Fama-French three factor model by generating highest significant excess returns. There is no empirical evidence on the performance evaluation of socially responsible portfolios across different sectors. Hence this study is first of its kind. This will help investors in selecting best sector for investment in socially responsible companies. Significant higher returns of ESG index and socially responsible stocks across different sectors make Socially Responsible Investing (SRI) a better investment vehicle for investors in India. This is the time when general companies should change their approach and agenda towards CSR and start considering ESG issues as their investment themes. The regulators, policy makers and mutual funds should come up with different socially responsible products and sectoral indices to initiate the movement of SRI across different sectors in India.
Corporate Governance Reporting in Bangladesh: A Study of Selected Listed Private Commercial Banks of Bangladesh
Authors: Dey Suman
Published: September 2019

Corporate Governance (CG) largely determines how well the interests of the stakeholders are being maintained. This study has been opted for in-depth inquiry into the corporate governance disclosure practices in the annual reports of the selected listed banking companies in Bangladesh. The study finds that all the sample companies disclose corporate governance information as per regulatory requirements laid down in Clause 1.5 of the SEC Notification, 2012. The focus of this study was to empirically examine the mandatory corporate governance disclosure and the relationship between various corporate attributes and with the level of that mandatory disclosure of the banking companies of Bangladesh. The study revealed that Bangladeshi banking companies have high level of compliance to the mandatory corporate governance disclosure and the variables of board size, ownership, board composition, and profitability have significant impact in the corporate governance disclosure. However, the inclusion of the separate section of Corporate Governance Reporting in the annual reports and suggested guidelines for mandatory list of items to be included in the report is a milestone for Bangladesh. For the purpose, the study has developed a questionnaire based on recent literature survey and have gathered the opinions of the executives of three sample banks under the framework of likerts 5 point scale. The gathered primary data have been properly analysis by a number of descriptive statistics, such as, Mean, Standard Deviation, ANOVA and Post hoc multiple comparison tests.
Corporate Social Responsibility of Public Sector Company: A Case Study of BHEL
Authors: S. K. Khatik
Published: September 2019

Corporate Social Responsibility (CSR) is not a new concept in the present scenario. CSR is a continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large. After replacement of the Company Act 1956 by Corporate Act 2013, certain changes have been made. Earlier CSR was not mandatory for the Indian companies but after enforcement of Corporate Act 2013 it has become mandatory for those companies whose turnover is more than Rs. 1000 crore or net worth is more than Rs. 500 crore or net profit is more than Rs 5 crore. Such companies implement the CSR practice in their business and expend on CSR activities which should be 2% of their net profit. CSR is a concept where an organization considers the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, and other stakeholders. CSR policies, practices, and programmes are being comprehensively integrated by an increasing number of companies throughout their business operations and processes. This research paper highlights the concept, philosophy, role of CSR in value creation. How Indian companies are treating CSR activities in contemporary environment. In this study we found that community welfare, education and enlightening rural youth is the top priority areas for most Indian Companies.
Business Environment in West Bengal: An Ethical Issue
Authors: Ray Sreekumar
Published: September 2019

Ethics in Business are keywords in any business environment which are lacking in most of the cases. In a broad sense ethics means not to cheat others and to do the business in an honest way, to abide by the rules and regulations of the soil, and above all to keep the morale high so that the business can grow to a new height in long run. Unfair means and unethical business practices to earn money quickly are often fraught with the danger of losing the business permanently or losing the goodwill and respect of society. West Bengal has got bad reputation for industrial growth and fake chit funds and it has been named as ponzy capital of India by many as 72 out of 86 fake chit funds are in the state of West Bengal (as per the Report of Ministry of Corporate Affairs, Govt. of India). On the other hand the micro finance company Bandhan which has got Banking license last year (set up in 2001 in West Bengal) and Eins Edutech the company which was originally incorporated on March 9, 1983, as Ganpat Udyog in West Bengal are worth mentioning and at ease one can feel proud of them. As on 17th April, 2015 the latter company has got market capital of Rs.700 crore with its fixed assets, as per its balance sheet, as only two cell phones and one printer. As per monthly status of Bandhan in February 2015 it has 2,022 branches, 63,66,269 borrowers, 15,956 staff, loan disbursed for the month Rs.1,572 crores, and loan outstanding Rs.8,908 crores. Under such situation, this study focuses on the ethical business environment prevailing in West Bengal and the strategies adopted by them.
A Comparative Study of Internal Control System Practices in Some Selected Government Business Enterprises in Rwanda
Authors: Byiringiro Benjamin , Bhatta H. S. Mahabaleswara
Published: September 2019

More than ever, the concept of Internal Control System has become a crucial concern for todays entities, requiring their respective board of directors and/or executive managers to hold-on the candle-light of high integrity, zero tolerance to frauds and embezzlement of public funds, compliance with different sort of internal and external environments rules and regulations, as a prerequisite to competitive edges. With this regard, the present study examines whether there is or not a significant difference between respondents perceptions on internal control practices in some selected government business enterprises in Rwanda. Primary and secondary data have been used for this study, where the first ones have been collected through observation, non-structured interview and questionnaires with 0.814 Cronbachs Alpha reliably test. Descriptive statistics in terms of frequencies and percentages were used to assess the level of respondents perceptions, and T-test was used to find out if there was any significant difference between variables. The study found that there is no significant difference existing with respect to control environment, risk assessment, control activities, information and communication, but when it came to monitoring activities, a significant difference has been evident. All in all, the overall administered t-test concluded that there is a significant difference between respondents perceptions on internal control practices with regard to Rwanda government business enterprises. Basing on findings, some areas needing improvement like staff professional trainings, system of information gathering on frauds and embezzlements trends have been recommended to companies under study.
Shift in the Status of Women Orators in India
Authors: Ruchi Tandon  , Shweta Singh
Published: September 2019

A woman with a voice is by definition a strong woman. But the search to find that voice can be remarkably difficult. – Melinda Gates. It is a general notion that there are not many good women speakers. However, on careful scrutiny, one can find that there have been impactful and wonderful women speakers since time immemorial. The world history is a testimony to this fact. Undoubtedly in Hindu mythology ample respect is given to women consorts, people take the name of a Goddess before the name of God which is why people say Radha-Krishna, Sita-Ram, Gauri-Shankar etc. Importance of women can be seen in Mahabharata where Draupadi had an important role to play. Undoubtedly the power of women is quite known to all of us, how they manage and organize everything so well. In the day to day life also, a lot of attention is given to women in every field, many beautiful adjectives are used for describing them. They are the centre of attraction all the time. But it is very surprising that when the discussion on the topic of rhetoric is done only a had full of people are able to remember the names of the women orators. In this context, it is imperative to analyse the following questions: 1. Why do people not remember the names of any woman orator? 2. Are there lesser number of women speakers? 3. Is there gender inequality in this field? 4. Do we have more strong male orators than the female orators? 5. Is it because males are better speakers than females? 6. How different are men and women when it comes to speaking in public?
Book Review: An Economist in the Real World: The Art of Policymaking in India: Kaushik Basu
Authors: Gupta Ananda Das
Published: September 2019

Book Review: An Economist in the Real World: The Art of Policymaking in India: Kaushik Basu
An Empirical Study of the Financial Mismanagement of Internally Generated Revenue in Ife South Local Government of Osun State, Nigeria
Authors: Ajayi Adeola
Published: September 2019

This study focused on financial mismanagement of Internally Generated Revenue (IGR) in Ife South Local Government. It also identified viable sources of revenue in the local government and examined problems militating against effective collection of revenue. This study was necessitated by the need to ensure increased revenue generation in Ife South local government of Osun State, Nigeria. Primary and secondary sources of data were utilized for the study. The primary data were collected through structured questionnaires. Respondents were selected from career officers in GL. 03-16 in departments and units of finance and supplies, administration, primary healthcare, agriculture, town planning and estate valuation of the local government, thus 180 respondents were sampled representing 29.31% of 614 staff strength of these departments and units of the local government. The questionnaires were administered using descriptive statistical analysis such as frequency and percentage value. The study revealed that there are many viable and non-viable sources of revenue in Ife South local government, the myriad of problems militating against effective collection of the revenue and the poor financial management of internally generated revenue which aptly explains why the local government could not be developed. The study concluded that the share of local government from the statutory allocation be increased, routine auditing and post-auditing from the supervising ministry should be encouraged at the local government level and that the local government should also intensify her effort on increase revenue generation in order to withstand the challenges posed by the current global economic crisis.
Drivers of Sustainability of Indian Microfinance Institutions
Authors: Niti Bhasin  , Preeti Gupta
Published: September 2019

Microfinance is the most preferred way of satisfying the essentials of poor which are generally not taken care of by formal financial institutions. It is the way to facilitate them to uphold self-employment through various financial services like provision of funds, insurance, credit etc. Microfinance institutions cater to the need of major section of society by providing access to funds and other financial services, which basically lack access to these services. To accomplish this moral objective microfinance institutions (MFIs) need to be profitable and sustainable. Thus most important question arises is: what factors drive the sustainability of MFIs. The aim of microfinance is to alleviate poverty with the help of increasing access to finance. For well-being of the poor, good sustainable performance of MFIs must be achieved. Therefore, the present study attempts to explore different factors which might affect sustainability of Indian MFIs. Panel regression analysis is used to identify the determinants of sustainability of Indian MFIs. Due to non-availability of data for most of the MFIs, five years (2009-2013) data for 46 MFIs shall constitute our sample size. Results of the study exhibit that variables such as average loan balance, borrowers per staff member, return on asset, and yield on gross loan portfolio are major determinants of sustainability (financial and operational sustainability) of Indian MFIs.
Corporate Restructuring through Demerger: A Case Study on Hindustan Unilever Limited
Authors: Radhagobinda Basak
Published: September 2019

Corporate restructuring decisions (demerger, etc.) are taken to enhance sustainability. Sustainability is enhanced if some more value for the stakeholders can be generated. Traditional measures like return on investment (ROI) can highlight short run sustainability well. But, to indicate long run sustainability, we need modern measures like economic value added (EVA). The present study highlights whether corporate restructuring through demerger adds value for the stakeholders. For this purpose, the demerger of Unilever India Exports Limited from Hindustan Unilever Limited has been taken as a case study. Hindustan Unilever Limited (HUL) demerged its fast moving consumer goods (FMCG) exports business into a wholly owned subsidiary Unilever India Exports Limited (UIEL) with effect from 1st April 2011. In this study, financial performance of HUL has been measured in pre and post demerger period respectively. Then performance of UIEL has also been measured after its incorporation. Performance has been measured under traditional and modern approach both. Finally a comparative analysis has been done between the performances in pre and post demerger period. On the basis of the comparative analysis it has been concluded that the demerger of UIEL is a value generating demerger.
Reaching the Poor with Microfinance: A Case of Rural South India
Authors: Vidya Rajaram Iyer  , Jivraj Patki
Published: September 2019

Microfinance has been recognized as one of the important instruments to meet the financial requirements of the low income customers or commonality lending groups including consumers and self-employed personnel, who lack access to banking and other related financial services (Mehta, 2008). Scheduled banks are not able to penetrate the rural prospective customers and usually are not keen in giving small loans to low-income families without security. Microfinance is one of the financial institutions that work towards achieving the national goal of ‘financial inclusion. The purpose of this paper is to explore the scope of micro finance firm in rural South India and understand various financial requirements of poor and middle class people residing in villages and their profit and contribution level of the businesses.
Ethical Perceptions of Business Management Students and the Role of Gender and Educational Background
Authors: M. Selvalakshmi  , P. Mutharasi
Published: September 2019

An Institution is the Lengthened Shadow of One Person. Ralph Waldo Emerson, Self-Reliance, 1841 The leader of an organisation determines the ethical platform of the firm. Many of the managerial decisions taken by the business leaders tend to involve their ethical considerations and preferences. With the growing complexity and dynamism in business, business leaders are urged to choose the path of convenience when faced with an ethical dilemma. The less critical judgement leading to greater tolerance of unethical practices can be attributed to an individual’s ethical perceptions. These perceptions are nurtured over a period of time and are shaped by several independent factors. The present study is aimed at understanding the ethical perceptions of business management students during the two years of preparation for the industry. This study examines the key factors guiding the ethical perceptions of management graduates and also explores the role of factors such as gender, undergraduate background and school board in influencing them.
Business Student Perception Towards Ethics: An Exploratory Study
Authors: Pallavi  , Arun Kaushal
Published: September 2019

In regard to ethics and values, nowadays corporate scenario also demands business ethics which will guide the emerging professionals to exercise this ethical domain in their professional lives. The children of present generation do not know about their culture, traditions, values, ethics etc. This is one of the reasons why the content related to ethics and values is included in the curriculum of their professional studies. The objective of the present paper is to study the perception of business students regarding ethics and values. The role of ethics and values in a students life is very important as it strongly affects their future, career, growth, professional behaviour and helps them learn how to tackle ethical dilemmas in personal and professional life. The data for the study had been collected from the undergraduate (commerce, management, engineering, arts, and science) and postgraduate (commerce, management, engineering, arts, and science) students of the private university situated in the state of Uttar Pradesh. The collected data was analysed with the help of statistical technique such as factor analysis, T-test and regression analysis. The results revealed that awareness about ethics and values is an important factor accessed by all the respondents of the study.
Comparison of Perception of Ethics Among the Accounting Professionals, Accounting Educators and Accounting Students
Authors: Amit Pusti
Published: September 2019

The concept of ethics in accounting education has gained paramount importance in todays world. The accounting professionals had experienced controversially the deepest crisis regarding their professions with the discovery that accountants had acceded in notable fictitious financial reporting by corporate giants such as Enron, WorldCom, Tyco, Satyam and the like. The accounting profession in India has started focussing more on accounting ethics at undergraduate and postgraduate levels due to various corporate scandals, especially Satyam scam in India and other scams in the world. Through the close survey of various corporate scams, it is apparently clear that business professionals are likely to be involved in the corporate scandals, their ethical behaviour can be used to measure ethical conduct. Commerce or business students are to become future leaders in business field and their behaviour largely affects the performance of businesses as well as the economic development of the society. Because of the scandals, professionals trustworthiness and objectiveness have raised questioned. The various corporate scams have led to increase the demand for accounting ethics within the professionals and students who are in commerce or business education. The purpose of the study is to explore the perception of ethics of accounting students, teachers, and professionals. For the purpose, we sent a questionnaire to accounting professionals, teachers, and students through email and hard copy to collect their views and we have used the z score test to make a comparison of the perceptions of ethics among the accounting groups. The result shows significant differences among accounting students, teachers, and professionals regarding perception of accounting ethics.
PMFBY - A Financial Inclusion Initiate for Farmers Development
Authors: Parmod Kumar Singhal  , Vivek Mittal
Published: September 2019

Agriculture is the base of any country. It is a risky activity because it is done in open field and it takes time to be ready. Risk is an important aspect of the farming business. People involved in the agriculture live in uncertainties. The uncertainties inherent in weather, yields, prices, government policies, global markets, and other factors that impact farming can cause wide swings in farm income. There is an important role of the farmer in the economy of a country. We are large exporter of rice especially of Basmati rice and large producer of wheat. So, we need to protect the farmers from various risks associated with the agriculture. This paper is based on both primary and secondary data. The primary data is collected from the farmers with an aim to know about their views on the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the secondary data is collected from various other sources.
Industry Initiatives to Addressing Water Concerns in India Today: The Inward and the Outward Looking Possibilities
Authors: Chandan Palaksha  , Nachiketas N.  , Purba Halady Rao
Published: September 2019

In India, water is fast becoming a scarce resource. As our country proceeds to achieve developments towards being a knowledge-based economy, competing demands for this limited resource coming from households, industry, and agriculture have wide-ranging implications for the country future. In line with these challenges, Indian industry is realising the importance of conserving and managing water, not only because of the growing scarcity and poor water quality impacting industrial operations, but also because of the fact that they are becoming conscious of their responsibility to (a) conserve water resources and (b) ensure clean water, for their own operations and to help communities around. In order to assess the extent of awareness of the industry to possible initiatives to address water challenges, an empirical research has been undertaken using survey research on a population of practicing managers across the country. This empirical research considers the severe impacts of the water crisis situation and examines if industry participation would help communities as well as their own operation in conserving and preserving this scarce resource. As part of this research, the awareness of private sector to the possible initiatives which are available to help water management has been considered in (a) internal sense (companies looking at the water efficiency in their own operations), and in (b) external sense (looking beyond the walls of the factory to help communities manage and cope with the water crisis situation).
Conflict Resolution Strategies and Workers Commitment in Selected Oil Companies in Rivers State
Authors: Ikechukwu Dialoke  , Edeh Friday Ogbu
Published: September 2019

The present study examines the relationship between conflict resolution strategies and workers commitment in selected oil companies in Rivers State. Cross-sectional research design was adopted. Target population for this study consists of oil companies registered with Rivers State Ministry of Commerce & Industry. Ten (10) oil companies make up the accessible population using simple random sampling technique. Copies of questionnaire were used for data collection. 210 workers were surveyed from 10 oil companies. A sample size of 136 was ascertained using Krejcie and Morgan (1978). Face and construct validity was employed. Reliability of instrument was determined using cronbach alpha test. Spearman rank order correlation coefficient was used as statistical tool with the aid of SPSS 22.0. The study found that conflict resolution strategies have a strong positive relationship with workers commitment. The study concludes that conflict resolution strategies measured in terms of integrating (problem solving) strategy, obliging (smoothing) strategy and compromising strategy enhances workers commitment in the selected oil companies in Rivers state. One of the recommendations is that managers in the oil companies should adopt integrating (problem solving) as a conflict resolution strategy in their workplace.
Ethical Responsibilities of Brick and Mortar Retailers
Authors: Bodh Raj Sharma
Published: September 2019

Retailers have ethical responsibilities in their dealings with different stakeholders. All the stakeholders have expectations from retailers and the retailers in obligation to fulfil their expectations in an ethical manner. Retailers have ethical responsibility towards customers, employees, suppliers, financers, competitors, government, and the community as a whole. In fact, some researchers have conceptualised responsibilities of retailers but the in-depth empirical investigation has not yet done. The study empirically examines the ethical responsibilities of brick and mortar retailers towards various stakeholders. The data were obtained from 200 retailers through a self-designed schedule. The exploratory factor analysis extracted ten factors out of various variables representing ethical responsibilities of retailers towards different stakeholders. The results indicate that brick and mortar retailers are moderately ethical towards various stakeholders. The present study will be highly beneficial for the researchers, retailers, customers, regulatory bodies and policy makers for new insights and better regulation.
Disclosure of Corporate Voluntary Board Governance Practices in India
Authors: Shivan Sarpal
Published: September 2019

The present paper deals with the current as well as hotly debated issue of increasing attention on the extent of governance practices followed by the corporates. In particular, it investigates the disclosure of sound board practices followed by the top listed companies in India by relying upon a Voluntary Board Governance Disclosure Index (VBGDI) developed in the study. The index has been constructed by following the requirements stated under Revised Clause 49 of the Listing Agreement (2004) and Corporate Governance Voluntary Guidelines (2009). In addition, the study has covered two time points in its dataset in order to examine an improvement in the disclosure of board governance practices by the corporates from the time point 1 (2005-06) to the time point 2 (2009-10). The testing has been performed by means of paired samples t-test and Wilcoxen signed rank test (for robustness testing) which has reported significant improvement for some selected board practices in particular and for overall disclosure score as a whole. Overall, the analysis suggests that the corporate voluntary disclosure of the board governance practices has been improved (but only for some items), however, there are certain influential practices which should be covered by the companies in the ambit of their governance frameworks so that the level of governance standards in India can be upraised. On the whole, it suggests the companies to incorporate more board governance practices in the spectrum of their governance disclosures.
Ethical Behavior through the Lens of Spirituality at Work: A Review Agenda
Authors: Gaurav Tiwari  , Prachi Pathak
Published: September 2019

Workplace spirituality has now become an integral part of behavioral practices. Over the last decade, researchers have been taking interest in understanding workplace spirituality in organizations. The frequent discussion about spirituality at the workplace has also fortified the perception of ethical behavior among individuals. Ethical behavior among employees has been widely advanced by the spiritual values, which affect the work environments and organizational culture at large. This study reflects upon the relationship and interconnectedness between spirituality and ethical behavior in organizations. It also aims at suggesting ways as to how spirituality can be a driving factor for ethical behavior among individuals in organizations. Extensive literature review on the study has been conducted to gain insights on workplace spirituality and ethics. The study inferred that integrating various factors like leadership, culture, organizational citizenship behavior in the work environment might augment spirituality and ethical behavior at workplace.
De-Globalization and Impact of Brexit on Global Economy and SAARC Nations
Authors: Kanwal Anil
Published: September 2019

The paper attempts to discuss the new and upcoming concept of de-globalization in the context of the latest issue making waves on the international circuit, that is, Brexit-the exit of Britain from the European Union (EU) through a referendum held on 23rd June 2016. The paper first builds upon the historical context of the term ‘globalisation’, its genesis and history and throws light on the economic, political and cultural connotations of the term. It then moves on to discuss and define the upcoming and pertinent issues, which have surfaced to the forefront of the developed economies like ‘Corporate capitalism’, ‘Neoliberalism’, ‘Alter or Anti-globalisation’, and now finally ‘de-globalisation’. By connecting these dots together, the paper attempts to bring about the impact of Brexit on Britain, the EU, and world economy at large by specifically bringing out arguments in favour and against the Brexit proposal. The paper further delves down to discuss, underline, and elaborate on the lessons, which the South Asian Association for Regional Cooperation nations, especially India, can learn from this policy of de-globalization being adopted by the British economy.
Living and Working Conditions of Tribal Labour: A Study of Koraput District, Odisha
Authors: Rajendra Mahanandia  , Bharat Chillakuri
Published: September 2019

India is a developing country and considered to be world’s fastest-growing economy. Though India has witnessed tremendous progress since Independence, the country is still working on providing the basic infrastructure in the rural areas. Geographically, it is the seventh largest country in the world. Based on the gross domestic product, it is also 7th largest. The country is poised to become the third largest by 2030. Concurrently, 70% of the population living in rural areas is below the poverty line of which tribals living in the villages form the greatest pie. This paper is an attempt to study the living and working conditions of tribal labour with a focus on Koraput district, Odisha. A research study is undertaken to study the working and living conditions of tribal labour like drinking water and shelter. Further, an attempt is made to capture their source of income and expenditure pattern. Based on the first-hand information, the study provides findings and suggestions for the better improvement of lives of tribal labour.
Factors Affecting Corporate Sustainable Development: The Case of Indian Cement Sector
Authors: Mihir Dash
Published: September 2019

The increased awareness of contemporary consumers towards environmental issues has led to a proliferation of regulations that companies must comply with. In such a dynamic business environment, companies must look beyond the profit-maximisation paradigm, and move towards a sustainable development model for their survival in the long run. The concept of corporate sustainable development (CSD) encompasses the dimensions of environmental integrity, social equity, and economic prosperity. The present study analyses the extent of CSD and its driving factors in the Indian cement industry. The study finds that CSD has been increasing in importance in the Indian cement sector, in terms of increased emphasis on environmental integrity and on economic prosperity. However, there is no significant change in emphasis on social equity, particularly in large companies, though profitability does not play much of a role. The study also finds that media exposure related to environmental issues and liquidity was the significant determinant of CSD in the Indian cement sector. Each CSD dimension was found to have distinct determinants: environmental integrity was determined by incurrence of fines/penalties/court cases; economic prosperity by media attention and liquidity; and social equity by diversity of exposure, media attention, and capital intensity.
Competition and Commercialisation of Microfinance Institutions: Implications for the Sector
Authors: Deb Joyeeta
Published: September 2019

Until 1990s microfinance was mainly seen as an impact – driven development programme based on the support of government and private donors. However, the failure of many subsidy dependent development institutions advocated for microfinance institutions to be self-sufficient and sustainable. This prompted MFIs to be commercially oriented and profit motivated. Also, with the growing proliferation of new providers of microcredit and influx of commercial investment in the sector, there is an increasing intensity of competition in the sector. Increased competition coupled with commercialisation helped in integrating the low-income population into a more formal financial system. But critics view that, this process has led the MFIs to search for better off clientele, thereby in many cases, departing from their social mission. Increasing competition followed by saturation in the sector has led to the mission drift of MFIs and has become a major cause of concern globally. However, some view this process to be a “win-win’ scenario whereby there exists scope for widening outreach and attaining sustainability. The present paper is devoted to examine the process of commercialisation and gauge the potential impact of competition and commercialisation of microfinance institutions on MFI performance from a theoretical standpoint.
Financial Performance and Corporate Social Responsibility (CSR): Empirical Evidence from Banks in India
Authors: Roopali Batra  , Aman Bahri
Published: September 2019

In the era of changing business dynamics and evolving socio economic systems the concept of Corporate Social Responsibility (CSR) has become widespread. In the recent decades this ideology is gaining momentum in both academic and business life, i.e., the company exists for and has responsibilities towards a wider group of stakeholders and it must have some objectives other than profitability. The Friedman’s formulation that “The Business of Business is Business” has outlived its utility, and corporate social responsibility and being a good corporate citizen are the buzzwords today. It is believed that organizations which do not consider any social responsibility towards society will ultimately tend to lose in the long run. It is questioned whether any relationship exists between financial performance and social performance. The present study aims to examine the impact of financial performance on CSR investments of selected banks in India. The research based on 20 banks (listed in BSE) investigates the impact of financial indicators viz a viz Profit After Taxes (PAT) and Earning Per Share (EPS) on CSR investments in some selected banks in India. Correlation and multiple regressions have been used to analyze the relationship among these financial profitability indicators and CSR investments. Results indicated a high significant positive correlation between PAT and CSR investments indicating that with an increase in profits, banks are increasingly spending on their CSR initiatives and vice versa. On the contrary though a significant positive correlation exits between PAT and EPS, the association between EPS and CSR investments though positive was found to be insignificant.
Relationship of Corporate Governance with Firms Performance and Dividend Payout: A Literature Review
Authors: Sushila Soriya  , Narender Kumar
Published: September 2019

The present study aims to find the research gap between corporate governance, firm performance, and dividend payout through available literature and develop future scope of the study. The study reviewed 100 research papers covering time from 1995 to 2016. The papers were classified and analyzed based on various approaches. The review of literature indicates that research work on area of corporate governance has increased after 2007-08 crises. The study reveals that the relationship of different variables of corporate governance with dividend payout and firm performance are mixed in nature. It also indicates that different countries have different socio-economic, cultural, political, and legal dimensions that in turn affect the governance regulations of any country. Present study classifies, summarizes, and analyzes the past literature and provides a comprehensive review on corporate governance mechanism, which may be helpful for future research in same area.
The Impact of Service Ethics on Organizational Competitiveness in India - A Primary Approach to the Startup and Emerging Service Enterprises
Authors: Rohit Kanda  , Harish Handa
Published: September 2019

Ethics concern an individual’s moral judgments about right and wrong. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route, which would lead to the biggest short-term profit. It seems the larger a corporation gets, the slimier their actions become. When big profits are a company’s largest and only concern, their employees and the world in general tends to suffer. Here are companies, which have engaged in terribly unethical business practices and are, fortunately, being called out for it. Many a times, business houses get involved in unethical business practices to increase their profits or improve their capability in market. Such practices were carried out throughout the world. This calls for studying the matter. Approaching towards our Focus Group, i.e., Indian Service Sector, which is the youngest and the fastest-growing sector of Economy as well as has the largest share in the structure and growth of the economy, is the foremost tool of growth and development of nation, we can have. However, this sector in recent past many a times, especially in India, has been accused of its service failures and incompetence, arising out of irresponsible behaviour / treatise of management or professionals at various levels. Now, in this research that focuses on Emerging and Start-up Indian Service Sector Corporates, the status of ethics in their practices and the need and possibility of its revival has been studied.
Financial Development and Economic Growth: Governance of Financial Institutions
Authors: Dhiren Jotwani
Published: September 2019

India has witnessed significant growth in the economy over the past seven decades. Economic growth has been consistent and higher than many other developed countries even though there were few ups and downs. At the same time, the financial system has seen drastic changes, from composition, to markets and instruments, and to governance systems. In this study, first the process of financial development is studied. The issue of governance in financial systems is discussed. Next, the impact of financial development is studied, using type of financial institution to indicate governance, on the economy’s overall development. It is hypothesised that the quality of governance of financial systems will affect financial development and ultimately growth. It leads to the finding that the financial system contributes to economic growth in India. Governance of financial systems is crucial, but does not impede the process.
Addressing Workplace Values in the Organization: Learning from Different Perspectives
Authors: Avnish Sharma  , Utkal Khandelwal  , Rakesh Agrawal
Published: September 2019

For managing effective performance at workplace, it is desirable to introduce and implement the essential element of workplace values. Lack in application of these values at workplace may pose a challenge for maintaining positive organizational outcomes. The purpose of this paper is to understand that how the application of human values at workplace can benefits the organization. The main focus is to underline the concept of workplace values from the perspective of leaders and employees. The authors researched literature studies in workplace values through online management journals and articles on human and workplace values. This study is split into two sections: first, exploring the concept of workplace values from different viewpoints and second, understanding the application of values in real workplace settings. This study provides useful insights to HR strategists for understanding workplace values from different perspectives and its significance in creating numerous organizational benefits. The briefing saves HR executives reading time by selecting essentially relevant information and presenting it in an easy-to-understand format.
Corporate Social Responsibility Practices in Indian Petroleum Companies: A Case Study of Selected PSUs
Authors: Das Abhijit Ranjan , Mukherjee Subhadeep
Published: September 2019

Corporate Social Responsibility (CSR) is not a very new concept, it is an old concept. Earlier, in India it was optional to the company that they may contribute voluntarily towards CSR but after the Companies Act 2013, it was formally introduced in the business environment and was made mandatory for those companies whose net worth and profit cross a threshold limit. They should contribute 2% of the average net profit of just preceding three years profit. This paper primarily focuses on CSR practices of some selected public sector petroleum companies in India. The study has been conducted based on the Annual Reports of seven selected public sector companies. Five years of data on CSR spending from 2009–10 to 2014–15 were examined. Moreover, the pattern of expenses was also examined. Since petroleum companies are giants of the India economy and contribute significantly towards the Gross Domestic Product (GDP) of our country. Thus it is necessary to look into how these companies are contributing towards CSR. An attempt has been made to examine the early impact of Section 135 of the Companies Act.
Ethical Ideology of Managers in Banking Sector in India
Authors: Kour Manjit
Published: September 2019

The present paper presents the analysis of ethical ideology of managers working in banking sector in Punjab, India. For the purpose of understanding ethical ideology of managers Ethics Position Questionnaire (Forsyth, 1980) is administered to 274 managers working in ten banks in Punjab state of India. Managers are then classified into different ethical ideologies as per Forsyth’s ethical taxonomy (Forsyth, 1980). The results found that most of the bank managers are situationists and very few are absolutists. It is also found that none of the managers fall in the exceptionist or subjectivist group. It shows that there is probability of most of the Indian Bank managers using less of universal moral rules and more appraise the current situation and use it as the basis for making a judgment.