• PPP at Cross Roads : Alternative Models, an Imperative

    The waning enthusiasm for PPP projects in India is a serious setback in the growth plans of the country. PPP models were expected to attract the elusive private capital to the infrastructure sector of the country. The high management efficiency the private sector is deemed to possess, would help to make the PPP model infrastructure development a success story in the country. However, the scenario unfolding is proving to be different. Many of the PPP initiatives, of late, gained the ill-repute of having poor quality in service delivery and dragged the government into litigations. The time demands alternative models which taps the investment potential of the Indian middle class for infrastructure.

    Read more >
  • Effect of Buyback Announcements and Tax Implication: Study on Indian Context

    The study focuses on growth of buyback in India and attempts to find out buyback announcements effect on share price and trading volume. The study also attempts to find out the tax implication of buyback. The study concludes that buyback activities and their growth depend upon their motives and market situation. Buyback tends to increase when the market is downcast and fall when the market is optimistic. It gives some values to shareholders after buyback as increased the EPS / ROE or ROA and improved P/E ratio. The study also concludes that Buyback announcements have impact on share price but do not influence the trading volume if price moves upward after announcement. The study suggests that the investors should understand the tax implication of buyback so that they can get more tax benefits and can take proper decision about whether accept the buyback offer or not.

    Read more >
  • Liquidity-adjusted Capital Asset Pricing Model In Indian Stock Market

    Liquidity and asset pricing have a strong relationship as per the available literature from developed stock markets. Capital Asset Pricing Model propounded by Sharpe considers only market risk as the predictor of expected return and significantly excludes all other risks including liquidity risk. This paper aims at constructing liquidity – adjusted CAPM for Indian stock market by considering five-minute quotation data. Employing Fama – MacBeth cross-sectional regression, it is proved that the liquidity risk and expected liquidity are priced in the Indian stock market. It provides that the liquidity shocks can have significant inferences on portfolio diversification strategies to be adopted by the investors.

    Read more >
  • Benchmarking and Probing its Applicability : Major Seaports of India

    The study has traced significant improvements in overall efficiencies both at organisation and industry where benchmarking standards are set for implementation. The study also found that techniques used in setting benchmarking standards are ever evolving and are being derived from a wide gamut of sciences. The study also found that benchmarking of seaports is still evolving. Taking a cue from this study, the authors, as a further extension to this study, propose to benchmark performance standards for container terminals of the major ports of India. This review of literature has been taken-up by authors to evaluate the status of studies on benchmarking and to identify the scope for benchmarking container terminals at the major ports of India

    Read more >
  • Factors Influencing Purchase Behaviour of Branded Sports Shoes

    This study offers and validates a comprehensive approach to explain factors influencing the attitude of respondents towards various characteristics of branded sports shoes. In order to attain these objectives a sample of 322 respondents belonging to three cities of Punjab: Jalandhar, Amritsar and Ludhiana, was drawn. Non-probability convenient sampling was adopted for selecting the respondents. It was however; found that brand loyals preferred buying shoes of their fancied companies whereas innovators preferred shoes with the latest state-of-the-art trends and technologies. Consumers desired sports shoes to be colourful and stylish and happened to relate traits of shoes to their personality.

    Read more >
  • Perception and Behavioural Intention of Retail Investors : Initial Public Offers in Indian Scenario

    This paper identifies a model to understand the relationship among various construct in understanding perception of retail investor towards initial public offers. Proposed model was based on Theory of Planned Behaviour (TPB). TPB in other investment alternatives were widely discussed whereas this research is specific towards the primary market. Data was collected through structured questionnaire from selected sample size and finally 253 responses were used to test the structure. In this model Perceived behavioural control was reframed as Economy, Industry and Company attributes (EIC) with a justification of control that is possible through the attributes mentioned above. Influence of information on EIC and Investor attitude is tested and the relationship was positive. Hypothesis were developed to understand the relationships which concluded with positive relationship between investor attitude to Behavioural Intention, Subjective norms to Behavioural Intention, EIC attribute to Investor Attitude, and EIC attributes to Behavioural intention. Relationship between Subjective norm and Investor attitude was rejected. It was found Investor Attitude is the most influencing factor in forming Behaviour Intentions of an Individual

    Read more >
  • “Eating out” as Life Style: Yielding to the Impulsive Temptation

    Rapid urbanization, changing lifestyle, increasing dual income households and innovative merchandizing techniques have brought major changes on consumer's food consumption habit even in an emerging economy like India. A special occasion is no more the only driver of eating out, rather it has evolved as an occasion in itself. Restaurant services in India have been quite successful in tapping the consumer market in recent past with the offerings of the taste of multinational cuisines. The restaurant industry is expected to grow at a rapid pace in near future which requires a fair understanding of consumer changing consumption pattern. The objective of this work is (a) to examine consumer impulse buying behaviour in terms of eating out activity, and (b) to understand the relative importance of various contributing factors towards such buying behaviour. To meet the research objectives, the study follows both descriptive and experimental research approach. Results reveal that consumers indulge in impulse buying while deciding to eat out. Various demographic, psychographic and external stimuli independently or in combination are found to be asserting strong influence on impulsive eating out decisions. India is distinctive among emerging countries for its fast-growing service sector. The present study will help in understanding consumer in the growing food serving market specifically in delineating the factors responsible for consumers' spontaneous decision of dinning out. This should help in formulating effective marketing strategy for quality as well as sustainable growth of the prepared food industry, which possesses immense potential for economic growth at large.

    Read more >
  • Firm Performances in Indian Life Insurance Industry: Non-Parametric Analysis

    The present study makes a comparison between 15 life insurance firms in India over a period from 2006-07 to 2015-16. For the purpose of analysis, a single input and a single output performance variable in the form of 'Investments' and 'Gross Premiums Written' of the observed life insurance firms were considered in the present study, under the assumptions of an input-output relationship respectively. The study have used the application of the Kruskal-Wallis and Mann-Whitney non-parametric tests across a non-normal dataset of the sampled firms covering all the years of the period from 2006-07 to 2015-16. The results of the study have pointed out the differences in performance between the observed public-sector and the private-sector life insurance firms in India with respect to the two major performance variables. The present study has further pointed out the dominance of the state-owned Life Insurance Corporation of India (LICI) even after the privatization of the country's life insurance sector.

    Read more >
  • Television Advertisements and Consumerism: Implications for Financial Health of Viewers

    The current study explores how people satisfy the desires instilled due to television advertising viewing and its implications for their financial health. Empirical analysis of the views of 520 respondents reveals that television advertisements entice viewers to buy products they do not need and cannot afford, thereby encouraging them to borrow money. Television advertisements also play a vital role in purchase decisions and a large proportion of the population buys products based entirely on them. Where reliance on television advertisements for purchase decisions is heavy, people spend greater proportions of their income on the repayment of borrowed money.

    Read more >