ABSTRACT. Mergers and amalgamation of Banks is the major banking sector reforms in India. It is the major subject of debate among global institutes over the past few years. Mergers and amalgamation is the effective pointers of a powerful and developing economy. Merging small and/or loss making banking organizations among themselves or with the larger ones or merging of Rural Banks having same sponsored Bank or merging Districts wise Regional Rural Banks (RRBs) in to single State RRBs is a recent practice of the Banking Industry of the country. With the changing dynamic of Banking Business, Ethics become a core part of Banking. Ethics deals with what “ought” to be done. Banking ethics is a specialized set of ethical standard and rules to be followed by the financial institutions and employees of the banking sector. In this paper an attempt has been made to study on the ethical and human resource aspects of the merger and amalgamation of Banking System in India.

ABSTRACT. “Bull” or “bear”, time after time investing sentiments have evidenced to be an irrepressible force in calming them down. It doesn’t matter how robust the stock fundamentals are, powerful negative emotions can pull down a strong bullish stock market. Indian stock markets have encountered many roller coaster rides in its history. Acute crashes and sharp corrections have been very common phenomenon in its past. Indian indices have plunged more than 50% during worldwide market crash of 2000, 2008, and so on. For an average investor, it becomes very difficult to discern the right stocks and survive through that arduous phase. This paper aims at analysing various stock market crashes to identify the stocks that have performed badly, moderately or have outperformed during those tough times. In other words, identify the stocks which offers durable competitive advantage. By investing in the types of businesses which survive and thrive in the difficult times, investors can be both more profitable and more resilient.

ABSTRACT. Resolution over liquidation of a bankrupt company is desirable as it better protects the interests of shareholders and employees. But, the number of liquidations have been reported to be three times of resolutions under Insolvency and Bankruptcy Code of India. Existing literature provides that bankrupt companies should be resolved or liquidated depending on their potential to contribute to the economic growth of a nation. This study attempts to determine whether outcomes of bankruptcy proceedings in India depend on competence of companies or not. It also delves into other factors impacting the likelihood of survival of companies after bankruptcy proceedings. This study has used logistic regression and independent sample t-test for analyzing 115 responses of insolvency professionals on a questionnaire investigating reasons behind outcome of resolution vs. liquidation. Additionally, it has also used phenomenological analysis to analyse the interviews of 10 insolvency professionals. Results reveal that outcomes of bankruptcy proceedings are not being based on economic efficiency of companies. However, if a company timely files for bankruptcy, it has 1.731 times chances of resolution over liquidation. Phenomenology has unfolded the plight of insolvency professionals, incompetence of National Company Law Tribunal, and drawbacks of supremacy of committee of creditors.

ABSTRACT. Cash flows are blamed to have no association with the previous cash outflows and accused of being capitulated from chaotic calculations. However, the accrual accounting profits is susceptible to management discretion because of elasticity bestowed under the GAAP. This management discretion erupt a lot of debate and research in the past to examine how these accruals are interpreted by the capital market. The objective of the paper is to examine empirically whether the cash flows or the accounting profit are priced by the market through stock returns. Further, the accruals are bifurcated into discretionary and non- discretionary component to look at its relation with the stock returns. The empirical analysis in the paper includes 2,609 firm year observations of all the Sensex-500 firms at Bombay Stock Exchange (BSE) in India from 2001 to 2017 and computed discretionary accruals through Jones model (Jones, 1991) and Modified Jones model (Dechow et al., 1995). The study revealed that CFO as more value relevant than NI (Net Income) and DA (Discretionary accruals) and contribute significantly at explaining returns. However, CFO becomes irrelevant when the non- discretionary accruals entered in regression model.

ABSTRACT. The presents study attempts to achieve two broad objectives of understanding the role of entrepreneurial activities in economic development and further tracing the linkages amongst the stock markets of select South Asian developing countries viz. India, Pakistan, Bhutan and Nepal. Amongst the select countries, India has outranked all its neighbour countries in term of technological readiness and innovation. To study the role of entrepreneurial activities in economic development, Least Square Panel Data Regression has been performed using GDP at Current Prices as dependent variable and total number of newly registered limited liability companies, Total natural resource rents, government final consumption expenditure and gross secondary enrolment rate as independent variables. To study the market linkages, monthly closing index price of sample countries stock market has been taken. For checking stationarity, Augmented Dickey Fuller test has been applied and causality is checked with Granger Causality test. Johansen co-integration is applied to trace market linkages among them. The present study reports statistically significant (at 1%) positive impact of government final expenditure and entrepreneurial activities on economic development. Further, the results of market linkages analysis indicate that, despite of lying in the closer proximity in the context of geographical locations for being members of South Asian Nations, there exists no relationship amongst the stock markets of select nations. Although it has been observed that Indian market is somewhat affecting rest of the three countries’ market but none of them is affecting Indian market in turn, hence, leaving no scope of financial integration and portfolio diversification.

ABSTRACT. Financial frauds, corruption and trafficking of organizational resources have become a regular phenomenon in Indian corporate houses. Since numerous big corporations have collapsed due to unethical organizational practices, the Indian government following the footsteps of developed nations has made establishing whistleblower policy and vigil mechanism a mandate. Whistle blowing involves disclosing unethical, illegal or corrupt practices to internal or external authorities. Reforming the way businesses operate in modern India, whistle blowing seeks to ensure good corporate governance. Employees who work closely with management are generally aware of the corporate wrongdoings as was evident in earlier corporate scams too. However, it is only occasionally that organizational members come out of the closet to report illegitimate practices. A host of factors affect employees’ willingness to blow the whistle. Since existing literature concentrates on whistle blowing practices in western part of the world, this paper seeks to empirically understand the perception of Indian employees on this recent reform. Results of parametric tests i.e. t-test and ANOVA applied on survey data collected from employees of Indian IT (Information Technology) companies suggest that the factors affecting whistle blowing intentions of employees differ on the basis of their demographic profile.

ABSTRACT. Corporate Governance is not a new concept however approach and application of the same specifically in Indian scenario went through a significant change with the enactment of the Companies Act, 2013. Now Corporate Governance is not just a matter of discussion, deliberation and voluntary submissions but it is a matter of mandatory implementation in the form of various aspects of corporate governance like: mandatory provision for corporate social responsibility and presence of women director on board to ensure the principle of diversity etc. In this background present paper is an attempt to trace and analyze the facets of Corporate Governance in Indian scenario while decoding the Companies Act, 2013

ABSTRACT. With the rise in debacles and scandals, the need for good corporate governance and corporate citizens has been at a rise. Corruption, mismanagement of funds, misappropriation of assets and misallocation of resources are the major cause for downfall of organisations and so is the economy. Such contraventions blur the economic system of a country. Deliberations on corporate governance mechanisms to keep a check on the above said offences have been commenced by the government, one of the mechanisms which can help detect and prevent these indiscretions is through formulation of appropriate whistleblower protection mechanism by organisations as well as having a befitting statute for the country as a whole. Other than having a sound whistleblower protection mechanism at the national level, an attempt has been made to take first-hand information from the employees of government as well private sector employees to gauge the factors that influence their decision-making power to blow or not to blow the whistle against a wrongdoing. An employee’s perspective was evaluated by providing them with hypothetical scenarios of corporate frauds. A need was felt to formulate a model depicting the dynamics of whistleblowing process in Indian corporate scenarios, taking into consideration Indian mind set which would further guide in research and practice both. Understanding and statistically comprehending the factors that impact the whistleblowing intentions of the employees of an organisation would yield practical implications. The organisational, personal, contingent and demographic factors contemplated in this study would help the existing and future Indian as well as foreign organisations setting up in India to apprehend the mind set of Indian employees and frame proper policies to urge the whistleblowing activities inside the organisations at the first place itself in order to detect and prevent corporate frauds. Also other than having a sound whistleblower protection mechanism in place, the organisation in which an employee is working in, presence of hotline , employee’s internal locus of control, employee centric organisational climate and high level of commitment play an important role in guiding his whistleblowing intentions in the absence of retaliatory effect, and the factors which influence an employee’s whistleblowing intentions in the presence of knowledge of retaliatory effect are type of organisation, perceived seriousness of fraud and perceived power or status held by the wrongdoer. The results of this study can help the policymakers frame an effective internal control mechanism by understanding the role of essential factors in stimulating and motivating the employees to blow the whistle as well as would give insights into the current status of India’s whistleblower Protection law in comparison to other nations.

ABSTRACT. Corporate sector has seen an increased demand for financial disclosures, especially about their political funding due to an increase in investor awareness and stringent corporate governance requirements. The paper examines the major corporate donors in India from 2004-2018 in terms of pattern and mode of funding. It highlights the flaws and shortcomings in their disclosure norms. The use of Corporate Social Responsibility as a surrogate political funding is examined. The analysis of secondary data highlights the sorry state of effectiveness of disclosure norms and consent taking mechanism for corporate political funding decisions. The study found that sectors dependent on government policy decisions are keener to donate to political parties. It encourages the exploration of adaption of new technology for better implementation of corporate governance and corporate political funding framework.

ABSTRACT. In the era of intense competition, financial gains supersedes ethics and customs, whistle blowing has turned out to be a matter of utmost importance to ensure good corporate governance. In this research paper thirty seven nations have been included for examining the whistle blower policy implementation in the respective countries, as it has been perceived as foundation of corporate governance across the world. In addition those whistle blowers who lost their lives after doing right thing have been discussed. For the purpose of empirical investigation about the perception of respondents structured questionnaire has been designed. 178 responses have been included in the study. Factor analysis (Principal Component analysis) and multiple regression have been applied. Four factors extracted using Varimax rotation method with Kaiser Normalization to measure effectiveness of whistle blower policy. Regression results reveals that support from outside stakeholders, rewards to whistle blowers and support from top management is very important for effectiveness of whistle blower policy in comparison to convergence with other related laws of the country.

ABSTRACT. The standard financial theories like Markowitz portfolio theory, efficient market hypothesis, capital asset pricing model, etc. are based on the assumption of rationality. These theories of standard finance dominated the financial world for a long period of time. However, the existence of herd behavior among the investors challenges the validity of these theories. In the present study, an attempt has been made to exemplify the empirical evidence on herd behavior among the investors in the Indian Stock Market. Further, the study attempts to analyze the market-wide herding in the Indian Stock Market using 405 weekly stock returns for a period of 9 year from 1st April 2010 to 31st March 2019 of top 500 during the normal period, extreme market conditions, and at both increasing and decreasing market conditions. The findings of the study reveal that there is no presence of herd behavior in the Indian stock market.

ABSTRACT. The objective of the article is to test whether Capital Asset Pricing Model which is known to be one of the widely used model for calculating the risk return relationship holds in the Indian scenario under different market conditions. The study uses data of 227 to 271 companies listed on BSE 500 for the period Jan 2000 to Dec 2018 to test if there exist a linear relationship between beta and expected return of the portfolio, whether there is a positive (negative) relation between risk and return in the up (down) market. Portfolios are formed on the basis of beta of individual securities, industry classification and market capitalisation. Results revealed that CAPM cannot be called a generalized model to estimate expected return commensurate with a particular level of risk as the results vary for different time periods of up and down market.

ABSTRACT. Many studies in the past have focused their attention on analyzing the interest rate sensitivity of banking sector. The present study makes a comparative analysis of interest rate risk. For this, study examines the relationship between interest rate movements and stock returns of banking and construction sector in India by using the methodology of GARCH (1, 1) model. The study spans the period from 1st April 1996- 30th August 2014. Sample used in the study consists of all banking and construction sector companies listed in the S&P CNX 500 index which has continuous availability of share prices over the study period. Both Banking and Construction Sector companies stock returns exhibits significant positive relationship with market returns, whereas this relationship was negative with interest rate changes. The magnitude of impact of interest rate risk is found to be higher for construction sector companies as compared to banking companies. Hence, stock returns of construction sector in India are found to have significant exposure with interest rate changes. Results of the present study have important implications for the banking & real estate community, policy regulators and investment community at large.

ABSTRACT. The extant literature on long-run performance of IPOs is mainly centred to stock price performance of IPOs. The present study, therefore, attempts to examine the relationship between long run operating performance of IPOs and their initial listing gain or loss. The long run operating fundamentals are measured using post-listing accounting ratios viz. Return on Net Worth (RONW), Earning Per Share (EPS), Debt-Equity Ratio (DE) and Current Ratio (CR). Results of present study propose that likelihood of a firm having positive RONW and EPS in long run is more if its IPO had experienced listing gain. However, the study lacks significant statistical evidence to establish any relationship of initial returns on IPOs with long run current ratio and debt equity ratio of such firms.

ABSTRACT. In this study, we attempt to investigate the dynamic linkages between US and Indian equity market particularly after the Global Financial Crisis. The daily closing value of total return indices from both the equity markets is examined for a period of more than 15 years ending March 2019. These indices are not found to be cointegrated. An analysis of returns from these equity markets using ADCC-GARCH model reveals the linkage between the volatilities of the two markets. However, the degree of these association between the volatilities are time-varying and has been found to have reduced for past three years paving the way for equity investors of both the markets for seeking the advantage of international diversification.

ABSTRACT. The concept of social responsibility of business is not new to the Indian Business though the term found its usage more evidently in the last few decades. So much so, India passed legislation in 2013, making CSR expenditure mandatory for profit making business houses. A few years down the line, it is time to study the how the corporate houses are shaping their CSR activities. The Indian Companies Act has specified a list of activities in Schedule VII which are the broad areas in which companies can have CSR projects. Based on mandatory parameters and review of extent literature, the paper seeks to develop an index of CSR disclosure and tries to find out the extent of compliance by BSE-30 companies. It further identifies the role of some key parameters of CSR committee in terms of diversity, size, independence and activity and their relationship with CSR disclosure by the firms. Size of the CSR committee and independent chairman are positively associated with CSR disclosure index, whereas presence of females in CSR committee has a negative relation with the index. Frequency of CSR committee meetings and ethnic diversity measured by presence of foreign nationals on committee have no significant relation with CSR index.

ABSTRACT. The paper aims at analysing the perspectives of Corporate Social Responsibility (CSR) in India as per guideline of the Companies Act 2013 and to highlight the compliance of the Social Corporate Responsibilities activities towards the removal of the regional disparities in the context of India. The Schedule 7 of this Act lists out a set of activities eligible under CSR like as, eradicating poverty, promoting education, gender equality, ensuring environmental sustainability, rural development projects, slum area development etc. are emerged as burning issues required for sustainable development of our country. The regional disparities also emerged as a major barrier towards the inclusive development of our nation. It is noted from the different studies that minimum percentage of CSR fund is spending in country’s north eastern region, the important component of ‘look east policy’. Out of total CSR fund 15.59% spends for the state of Maharashtra but in the case of eight states of NER it is only7.37%. In the light of the above the present paper, based on secondary data is an effort to analyse CSR activities in India and to focus upon the trend of CSR fund out flow towards the direction of promoting sustainable development of the nation. Appropriate statistical tools are to be used for analysis of data. The paper is to be divided into three sections. Section- I is introductory in nature, highlighting methodology, objectives of the study and review of literature, Section – II deals with discussion and analysis, Section – III remains for conclusion and suggestions.

ABSTRACT. Corporate social responsibility (CSR) and corporate governance (CG) often used interchangeability to attain sustainability for organisation. This paper attempts to gauge interrelationship between variables of corporate governance and CSR relying on the scale created on the basis of Global Reporting Initiative (GRI) standards and provide evidence there from. It discovers the relationship between CSR disclosures and promoter’s shareholding, institutional investor, foreign ownership, board size and board independence on a sample of one hundred and sixty-six constituent companies of BSE 200 index with six years of period. Concentration of ownership in Indian companies is widely known fact and also amongst the significant contributor to corporate governance per se. Board size, its independence and ownership pattern of Indian listed companies have been regressed with the CSR disclosure practices estimated from an index devised in this paper. The evidence collated by applying multiple regression by hausman test fixed effect model reflects that institutional shareholding and foreign shareholding have a positive and significant impact on CSR disclosures. Further, the results reveal that for better CSR orientation the institutional and foreign ownership is strong contributor towards sustainability.

ABSTRACT. Sustainable development through SDG’s is a guide map for several countries to end poverty, protect the plant and ensure prosperity for all. In India, The companies’ act 2013 made corporate social responsibility a mandate for eligible organizations operating in India. There is a lot common between SDG’s and CSR initiatives as they both focus on the betterment of the society. The current study is an analysis of spending of CSR budget in India along with the possibility of spending CSR funds towards the menstrual hygiene, menstrual waste disposal and manufacturing environmental friendly mechanism of menstrual hygiene i.e. sanitary napkins. This conceptual study is based on secondary data review with case based approach. The study would benefit different CSR researchers and practitioners to plan their initiatives towards menstrual hygiene, its waste disposal and e-friendly solutions ensuring better healthcare, sanitation and cleanliness in the society.

ABSTRACT. India is on the path of development and is witnessing growth when compared to its peers. However, the benefit of the increasing economic growth is being enjoyed only by a small portion of the country’s population. As per the latest Human Development Index rankings (2017), India ranks 130th out of 189 countries, and it is moving up on the rankings at a very slow pace, thus, emphasizing on the developmental challenges India faces. The CSR agenda was included in the Companies Act 2013 keeping on the table the developmental challenges India faces. The concept of CSR has taken a new meaning ever since its introduction as a mandatory requirement in the Companies Act 2013. However, since Section 135 is a soft mandate, the extent and the pace with which the companies are complying by the mandatory requirement needs to be checked. Thus, the focus of the paper is to: firstly, examine the extent of companies’ compliance with the mandate; secondly, investigate the difference in the compliance by different groups of companies; thirdly explore the impact of corporate governance practices and corporate financial characteristics on CSR; and fourthly to analyze the impact of the CSR spending on the company’s financial performance as that would determine their future course of action with respect to their CSR spending. Data analysis has been done using Descriptive Analysis, One Sample t-Test, Independent Sample t-Test, and Multiple Regression. The results indicate that the actual CSR spending is significantly less than the mandatory requirement. Polluting companies and companies with foreign ownership have been found to spend more than their counterparts. A significant impact of select financial characteristics and select corporate governance practices on the actual CSR spending of the companies has been concluded. Actual CSR spending is found to significantly impact the financial performance of the companies.

ABSTRACT. Abstract Rapid industrialization and globalization have a major environmental impact, unfortunately degrading in most cases. Every single purchase decision has an impact on the environment, business, consumers and the workers who manufacture the products. Therefore, what is required is a responsible behaviour from all stakeholders in preserving the environment and adopting innovative alternatives for environment conservation and sustainable marketing. Economic reforms carried on since1991 have produced remarkable results, making India one of the most exciting prospects among the emerging markets. Profit-making at the cost of environmental degradation cannot be the prime objective of companies. Further, there is a shift in the consumer buying behavior of Indians. An Indian consumer who at one point of time was saving for the rainy day is not hesitant in taking loans and does not shy away from spending on the life’s luxury. Whereas the West which is already facing a consumerist society and the governments and social organizations are educating business and the consumers about ethical consumption, will the Indian markets think about sustainability and business ethics? The article attempts to study the challenges of sustainable consumption in the Indian context. The idea is not to thwart the juggernaut of Indian consumerism but to change the direction towards sustainable consumption. Perspectives of various stake holders are analysed and recommendations made.

ABSTRACT. Purpose – The purpose of the present study is to identify the core cultural aspects perceived by managers of public, private, and foreign banks in India.

Design/methodology/approach – The study investigates the various cultural aspects in the Indian banking industry through an unstructured questionnaire. The study took place in 5 public, 5 private, 5 foreign banks in Delhi and NCR. Out of 124, 96 usable responses were assessed from middle and top level managers. Qualitative content analysis and deconstruction method were used to identify the perceived managerial aspects. Findings – Interestingly, managers of Indian banking industry stated that cultural aspects of their banks possess good work and working environment, prefer people, management, experience, and promotions in comparison to other factors like policy, bonus, market, commitment, project, etc. It is also noted that cultural aspects of banks prefer learning, training as well as team-working.

Practical implications – Assessment of the perception of managers towards their culture will foster the banks to develop integral subculture, to achieve the long-term organizational goals.

Originality/value – The study analyze the cultural aspects in Indian banking industry qualitatively, based on managerial characteristics. This unstructured and qualitative analysis, helps to find out more contemporary and prevailing factors of banks.

ABSTRACT. A business cannot accomplish its goals without a committed and dedicated workforce. Employees are willing to go the extra mile for their organization if they are satisfied and happy. Though most of the organizations aspire for employee satisfaction but are not able to attain this goal and that’s why it is pertinent for the human resource professionals to understand the factors that impact the employee commitment in IT organizations. This study is based on the assumptions that the turnover intentions among the software professionals are in agreement with the theoretical models of job satisfaction, organizational commitment, and turnover. The basic objective of this study is to identify the factors of job satisfaction causing different types of commitment among the sampled respondents and identify whether there is any causal relationship between the extracted factors of job satisfaction and the types of organizational commitment

ABSTRACT. Spiritual intelligence is a dimension of spiritual health, which facilitates human adaptation to his/her environment. Since beliefs, culture and spiritual commitments can be associated with positive outcomes such as physical and psychological health, satisfaction with life, favorable interpersonal performance and better quality of life, the present study was conducted to measure the impact of spiritual intelligence on quality of life among employees of Kantar IMRB and McCann Erickson. A total of 106 employees; 56 males and 50 female employees were part of the sample and non probability convenience sampling technique was used in the study. 59% of the subjects were falling in the age bracket of 21-30 years. All the subjects were assessed on a standardized questionnaire to analyze the spiritual intelligence and quality of life of the sample. Descriptive analysis of the data was done to obtain Mean and Standard Deviation. Simple Linear Regression was used to find out the impact of spiritual intelligence on quality of life and Independent sample t-test was used to find out the significant difference between the difference between selected employees of Kantar IMRB & McCann Erickson with respect to Spiritual Intelligence and Quality of Life. The findings of the study revealed Spiritual intelligence impacts Quality of Life and there is a significant difference in level of Spiritual Intelligence and Quality of Life based on employees of Kantar IMRB and McCann Erickson.

ABSTRACT. India has woke up to the new treatment to the white collar crime with the new government in power. Citizens of India have become intolerant towards white collar crime. Increasing awareness about financial scams in nationalised banks leads to siphoning off the tax-payers’ money has resulted in demand of book the criminals from wherever they are, has made the general public demand aggressive for justice from the government and the judiciary. Monetary loss from white collar crime runs into thousands of crores of rupees than the street crime or smaller theft crimes, but the historical evidences suggest that the criminals of white collar crime were not bought to the crime books for convictions in most of the cases. Few of such criminals died in Jails pending judicial proceedings in India. Relatively higher prosecution of criminals of small financial crimes than the white collar criminals accused of thousands of crores of rupees proves that the judicial system had been biased in favour of white collar criminals. However, changing priorities of the present government has brought a sigh of relief to the tax-payer citizens of India to believe that the system is changing and their hard earned money in form of tax will be utilised for the purpose for which it has been given. However, through this study it was attempted to find out educated public’s perception towards concept of white collar crime, why it is done, how it can be curbed and what should be the penalties for such crimes. This research can open the avenues for policy discussion and decisions on white collar crime as an issue of ethical practices in the area of corporate governance.

ABSTRACT. Purpose: The paper aims at highlighting the importance of employee as one of the major stakeholder in an organisation and the impact that employee engagement can have on various stakeholders of an organisation.

Research Design/methodology: This a review study which majorly focuses on secondary data provided by various journals, websites and research organisations.

Findings: Based on the literature reviewed, the study finds out that employee engagement leads to positive impact on employees, customers and on the organisation as a whole.

Key Words: Employee Engagement, Stakeholders, Organisational Citizenship Behaviour (OCB)

Paper type: Research paper

ABSTRACT. Abstract: MOOCs have potential to provide “disruptive” educational platform, which will force re-thinking and re-structuring of existing educational models (Conole, 2013). Over the time period it has taken an important place in learning pedagogy. This article was intended to study the motivation to attend such courses and major hurdle in reaping the benefits from such courses. Focussing on four MOOCs service providers, that is, Coursera, edX, Udacity, and FutureLearn, it was found that reskilling, enrich campus experience, learning flexibility, career advancement, getting a job, and upgradation of knowledge are important motivation factors among participants in such courses. Dropout rates in MOOCs and understanding the reasons behind to suggest areas in which these can be improved, is an important goal for MOOC development (Onah et al. 2014). Based on existing studies, some of the reason of dropouts were identified in the study.

ABSTRACT. New models of corporate governance are constantly emerging in view of ever developing technologies in the digital world. The modern technologies have revolutionized the way corporate governance is carried out today in the areas of process improvements, decision making structures, management information systems, distributed ledger technologies, increased transparency, improved customer awareness, customer relations, improved communication processes and even increased protection to investors, national as well as international. IT-based corporate governance is no longer restricted to the simple information technology facilities like email, web portals, ERP systems, VPN networks, etc. These systems no doubt still continue to be the part of essential services in any corporate governance environment, but much more is evolving today. Artificial Intelligence (AI), Machine Learning (ML), Big Data (BD) analysis techniques, Internet of Things (IoT), Blockchain technologies, etc. are changing the entire landscape of corporate governance. This paper gives a brief introduction to these technologies and studies how corporate governance models are changing with the adoption of these modern technologies in any corporate environment.

ABSTRACT. The global population is forecast to increase by over a billion people in the next 13 years to reach 8.6 billion in 2030. India’s population is expected to reach 1.35 billion by 2020. Emerging economies are expected to contribute a majority of the increase in global population. By 2020, a full generation, Generation C (for connected), will eventually grow up in a digital world of texting, social networks, mobile devices and apps and the Internet. Population explosion and increasing digital awareness calls for significant changes in the way cities are governed and public services delivered to people. Citizens now anticipate more personalised, connected experiences with the government making digitization very vital for governments. This paper attempts to highlight the importance of digitization in modern times w.r.t public sector in India. Where one section discusses the need, benefits and pre-requisites of e-governance, the other part studies how India has performed in terms of e-governance nationally and globally. Also, it emphasises on the supporting factors, citizen’s adaptability levels, internet penetration percentage and EGDI ranking along with its impact on an economy. The paper throws some light on challenges specific to the public sector, susceptibilities making e-governance projects fail followed by the recommendations and suggestions for the way forward.

ABSTRACT. Consumer demand for GREEN products is not only rising year on year but that consumers are ready to purchase them at a higher price. This led many companies to revolutionize their products either by switching on to green products completely or adding green product to their product line over a period of time. But at the same time, the above statement looks like a farce, as many companies have been found guilty of “greenwashing”. This paper intends to investigate and trace the real motive behind such evolution within the select group of green companies and analyse the impact of greenwashing by companies. Environment protection, energy conservation, giving back to Mother Earth, ecological sustainability encapsulates major part of Corporate Social Responsibility. The Research paper will also analyse the factors that motivates in going GREEN. Green products are neither just buzz words and nor not an ad hoc concept for any organisation, but it is a reality that we have to face in view of moral, ethical, social and environmental issues involved impacting the survival of humanity in general and man in particular which will be discussed in the paper. It appears to have a great impact on the performance/profitability/longevity of the firm and hence it is very crucial for a firm/business/venture. The conclusion will incorporate above discussion along with consumer’s perception on going/turning green, benefits for adopting GREEN products, business scope for the same and impact on the business environment.

ABSTRACT. This paper reviews current situation of Supply Chain management (SCM) with respect to “Governance: Changing Paradigms”, has attracted widespread the past two decades, whereas studies of Supply Chain management in the Governance is limited. The changing paradigms in manufacturing in the global market since the late 1990's have seen the emergence of more collaborative manufacturing ventures, an increase in outsourcing and a review of the relationship between manufacturing, operations management and logistics and their place in the overall supply chain. The effective supply chains has become a way to develop a firm's competitiveness and profitability requiring firms to make the shift from a functionally based organization to one focused on business processes, first internally and then across the supply chain members which leads to governance issues as a whole. Supply chains can be highly complex. They often span many countries and include multiple tiers, which are made more opaque by outsourcing and off shoring. They are also essential to the success of almost all businesses and can be a significant source of value creation and innovation. As supply chains fall inside and outside of a company’s core operations, they expose them to hidden and uncontrollable risks. Customers expect products to be delivered quickly and on time. The importance of supply chain strategy is that this process increases customer satisfaction. The Reduced operating costs, Supply chain management allows a business to decrease the cost of purchasing and production. The idea of Socially Responsible Investing (SRI) has been around, in its current iteration, for more than 50 years. However, the idea that social and ethical issues should be considered when backing an enterprise has been part of human culture far longer. Businesses are increasingly expected to understand and manage their exposure to supply chain risks. Public awareness of supply chain issues continues to grow, globally and increasingly under scrutiny to take action on their suppliers. Rapid advances in technology are making it easier and less costly to monitor supply chains. For example, blockchain and virtual reality (VR) technology could make it far simpler for large organizations to virtually visit their sites and trace upstream suppliers on the other side of the globe. In many sectors, risks are often far greater in the supply chain than in the invested company’s direct operations. Themes: We have discuss the nature of the opportunity in governance in Supply Chain Management; sourcing and procurement as a challenge in addressing the scope of Governance, and some suggestions for maximize value in governance with the efficient supply chain. The review paper will examines the characteristics of Supply Chain Management, and will identify and explore core issues and concepts in supply chain management. My review paper have focus on Governance in Supply Chain Management activities with fully considering the whole range of different suppliers / service providers involved in the provision and consumption of products. This paper can provide a systematic review of current to governance perspective and will develops a framework for efficient Supply Chain. This review paper should be of great value to decision makers.

ABSTRACT. Purpose: The present paper is an attempt to compare North India and South India.

Design/Methodology/Approach: The paper uses the four cultural dimension and their impact on Service Quality. Region (North India and South India) was used as a moderator. A questionnaire survey was conducted on the sample size of 412 respondents from Delhi and Chennai. data was analyzed using Process macro plugin for SPSS

Findings: Major findings of the study was that there is no difference between Tangibility and Reliability. However, a significant difference was found for the rest of the dimensions.

ABSTRACT. Digitization has influenced business activities to great extent and has put lot of pressure on the organizations to revamp their business models. The overhauling of business models requires exploration of new-fangled business opportunities methodically at early stages for better customer connectivity. Research on digitization is now gaining augmented attention, but still gaps exists in this filed as the empirical insights is inadequate. This paper aims to address issues and challenges faced by the hotel industry in revamping their business models for acquisition of customers through a new business framework. This study will be advantageous for hotel industry to comprehend the impact of digitization within the context of hospitality sector upon customer buying behavior and for further research.

ABSTRACT. The paper tries to focus upon the challenges and opportunities of corporate governance in digital world and to examine the impact of Digitalization in Corporate Governance. The study also analyzes the repercussions of digital governance techniques among the Indian firms.it also try to emphasize upon assess the existing literature in the domain of Digitalization in Corporate Governance in India. The digital age is moving fast and radically changes the way organizations work. The same applies to the private or public sector. You need to develop new ways of thinking and thinking about delivering services that influence the shape of your business models. Therefore, it has been a significant impact on the functioning of the personnel departments of those organizations and identifies new approaches for managing people.

ABSTRACT. In today’s scenario the most important competitiveness of a company sustainable development is corporate social responsibility. With the increase in use of artificial intelligence sustainability strategy it is important for organization to have a substantial role of ethics to operate its business. Organizations are using AI to create consumer value in terms of personalized services and recommendations. Still, organization are failing to live up the needs and demands of individuals. Recently few instances where companies are facing CSR issue like Google’s self-driven car which leads to cause in personal injuries; Facebook impact of the emotion on people by controlling and using the personal information for their benefit. Thus, it is important for organization to keep a check on how to the improve the policies of CSR with respect to AI. The aim of CSR is to manage the underlying conflict of interest (in terms are of local and overall interest; also in terms of duration such as current and long term) and maintain sustainable development. The aim of this paper would be to enhance the concept of CSR with that of AI in terms of enhancing awareness in public about their social responsibility along with what they think about corporate social responsibility and their standards.

ABSTRACT. Around the globe, the recent financial meltdown has emphasized the role of social responsibility and ethical practices. The amount earmarked for Corporate Social Responsibility (CSR) under companies act need to be disclosed in a proper manner so that it is being communicated to all the stakeholders. Banking sector is the central position in any economy due to their major role in the financial system. There are huge interdependencies and potential consequences of the banking sector collapse on the other sectors of the economy. The present study analyses the CSR disclosure practices made by the top listed banks in India in their annual report. Annual report has been selected as a medium as it is the most essential mode of information to reach to all the stakeholders. The various CSR elements on the basis of literature were considered like Human resource, community involvement, Environment and Ethics. Detailed study was done on the annual reports of the year 2018 for the banks and content analysis was used to further analysed the qualitative data. The results of the study suggest that there has been a significant difference in the disclosure practices of public and private sector banks. There is a need to tighter disclosures for CSR spending for the Banks to bring transparency in spending on these activities. The amount earmarked for CSR under companies act need to be disclosed in an enhanced manner especially by the public sector banks.

ABSTRACT. The Impact of Company’s Financials on CSR: An Empirical study of NIFTY 50 Companies Abstract The increasing expectations of people from the corporate world to fulfill their social responsibility, has been one of the causes of businesses being so responsible towards environment and society. The need to study the impact of company’s financials on CSR emerges due to the fact that better performance of companies will lead to more expenditure on CSR. The aim of this study is to understand the effect that, financial performance has on the company’s CSR. We have taken financial data of companies that are part of one of the largest indexes, i.e. NIFTY 50 and tried to analyze the implication of variation in profits, turnover and EPS on the amount that companies spend on their CSR activity. Though it is mandatory for prescribed companies to spend certain money on CSR, we are trying to capture their will to go an extra mile if they are capable of doing it. The companies should have the intention to serve and care for the society. All the companies are compliant, but is the nature of compliance in the letter of law or spirit of the law. The study shows that a company with higher net profit and turnover is likely to spend more on CSR activities. As the CSR expenditure increases the EPS of the company decreases.

ABSTRACT. The UN member countries committed themselves to adopt Sustainable Development Goals (SDGs) also known as Global Goals by 2030. The 2030 Agenda includes the three dimensions of sustainability – economic, social and environmental. The SDGs aim to target different stakeholders into “doing more and better with less”. India is highly committed to achieving the SDGs both at the national and state level. The expression “Sabka Saath Sabka Vikas,” that interprets as “Collective Effort, Inclusive Growth” and has been repeatedly emphasised by our Prime Minister Narendra Modi, forms the cornerstone of India’s national development agenda. Reflecting the country’s commitment to the SDGs, Indian companies are also integrating practices set out in the UN’s sustainable development goals (SDGs) in their corporate strategy. This paper attempts to study the 17 SDGs and their implementation by NSE NIFTY 50 companies. For this purpose, NSE Nifty listed 50 companies were taken and the data relating to the Sustainability initiatives of these companies was collected from various secondary sources. It also aims to examine empirically the relationship of sustainability initiatives of NSE NIFTY companies with the Corporate Financial Performance.

ABSTRACT. Researchers, over a period of time, have argued and proved that corporate governance and sustainability are essential for long term survival of the corporation and thus requisite attention needs to be paid to these concepts and allied principles. Current paper is an attempt to review the researches that have emphasized upon the need of corporations to practice sustainability to enhance their corporate image; has highlighted synergetic effects of addressing corporate governance and sustainability; and addressed the significance of embedding sustainable development in core strategies while engaging in dialogue with stakeholders. Considerable focus has been pointed on to study the impact of characteristics of corporate governance on voluntary disclosures pertaining to sustainability. With appropriate composition of board being one of the most critical characteristics for addressing corporate governance standards and requirements, the paper focuses on recent studies that have taken into consideration relationship of board size, board independence and board diversity with sustainability disclosure.

ABSTRACT. In the 21st century the corporate social responsibility has become the hot business topic. After Companies Act, 2013, a new wave for CSR emerged in India. Every company covered under section 135 of the Companies Act, 2013 have to mandatory spent a minimum amount for CSR in India. Therefore, this study provides a brief idea about the CSR spending by the companies in 8 sectors of India from years 2015 to 2019.

ABSTRACT. The market trends are broadly classified into Bull and Bear phases which have dynamic influence on buying and selling in the stock market. Investors need to have an idea about the right time to enter the market and exit the market based on current market trends to make maximum profits on their investments. This requires gathering of information at both micro and macro level along with market trends to make timely decisions and evaluating the universe of stocks available. The market trends are broadly classified into Bull and Bear phases which have vital influence on buying and selling in the stock market. Investors need to have an idea about the right time to enter the market and exit the market based on current market trends to make maximum profits on their investments. Thus the present study attempts to understand how investors can allocate their investments during the two phases and how it influences their decisions relating to investment strategy.

ABSTRACT. Sustainable investing is an investment approach making reference to environmental, social and governance (ESG) factors in the selection and management of investments. Green or socially responsible investing (SRI) refers to making investment decisions according to both financial and ethical criteria. Over the past decade, socially responsible investments (SRI), frequently also called ethical investments or sustainable investments have grown rapidly around the world. The broad objectives of the study are to analyze the extent and pattern of Socially Responsible Investing (SRI) funds in emerging economies and to recommend the interested parties about sustainable investing performance and throwing light on the belief that the Social considerations are at the cost of returns generated by the portfolio. Regulators across Asia ex. Japan have started implementing public policies to address the low uptake of ESG Investing in the region. An example of Japan’s early adoption of public policies on sustainability and stewardship is compared alongside a brief overview of current regulations in China, Hong Kong, and Singapore.

ABSTRACT. In India, most of the businesses are predominantly controlled by the families. It is approximated that 90% of the Indian businesses are under the ownership and control of families. Worldwide, India secures third position in terms of number of family owned firms with 111 companies. These companies have an aggregate $839 billion market capitalization. This paper attempts to review the studies conducted on the capital structure of family owned firms. Scant literature was available on the topic in Indian context. Therefore, studies pertaining to various other countries are taken into consideration. The available literature highlights the fact that the family owned firms prefer debt over equity. The main reason behind this is the love for control over the firm by the family members. This control and voting right will be diluted by raising equity capital. Therefore, debt is preferred over equity.

ABSTRACT. This study is an effort to assess the role of behavioural biases in investment decision making and moderating role of investor. Individual investments behaviour is concerned with choices about purchases of small amounts of securities for his or her own account. However, behavioural finance opposed the concept of perfect rationality and identified psychological factors and their impact on decision-making. A survey questionnaire is designed and is used to collect responses using judgemental sampling technique from a sample of 290 investors. Chron –Bach Alpha , Factor analysis and Linear regression method is used to test influence of three behavioral biases on investment decision. We found that the behavioural biases have a positive impact on investment decisions.

ABSTRACT. Financial knowledge is especially important in times where increasingly complex financial products are easily available to a wide range of the population. Low level of financial literacy prevents individuals from making right choices regarding financial decisions. To achieve the objectives, individual must invest his/her savings in right investment alternatives. There is a great concern about the level of financial literacy among students, employees, consumer and households. The objective of this study is to identify and measure the level of financial literacy among undergraduate students, teaching as well as non-teaching staff of Kalindi College, University of Delhi. The study has been conducted by collecting primary data through construction of structured questionnaires. It was found that majority of the respondents scored high both on financial knowledge and financial behaviour irrespective of their occupation.

ABSTRACT. Productivity is essential in the long run life of an organisation. Monetary value of output is divided by the monetary value of input to obtain the productivity. The Material Productivity of Automobile sector companies included in Nifty Fifty has been analysed in the present study. The sector comprises of Bajaj Auto Ltd., Mahindra & Mahindra Ltd., Maruti Suzuki India Ltd. and Tata Motors Ltd. Material productivity of eight years has been studied in the present study. Both intra sector and inter sector hypotheses have been tested and results have been drawn from it. Kruskal Wallis One Way Analysis of Variance Test has been used for testing the hypothesis and it has been observed that null hypothesis is accepted and alternate hypothesis is rejected. This means that there is no significant difference in material productivity. For improving the material productivity it is recommended to improve the output, input or components related to output or input.

ABSTRACT. Financial Markets are vital parts of an economy. A financial market, through financial instruments, provides various tools to people to defer their current consumption of income and develop opportunities to have higher future wealth. These financial products range from equity shares, debentures (bonds), mutual funds, fixed deposits, public provident fund (PPF), savings account, post office saving schemes, etc. The mutual funds are the tools directed to achieve the same goal. This industry enables the naïve investors to get higher returns, subject to their risk-return appetite, by investing their wealth in various financial products. In India, the first mutual fund, UTI, was established in 1963 and since then the landscape of mutual funds has evolved in terms of varied sponsors and the number of products offered. The last few years have been very significant for the Indian mutual fund industry. Both individual and institutional investors have grown substantially in terms of numbers; also AUM has shown intensive growth, with an increasing numbers mutual fund investment become an integral part of their regular investment choices. But, the investor’s behavioral pattern remains in a dynamic state across this period. Thus, it is a cause of concern for both the portfolio managers and investors. A better understanding of investor behavioral patterns for mutual funds is the need of the hour for both the investors and the fund managers. It will help the investors to optimize their decision relating to the allocation of funds, choice of financial products, the risk-return trade-off, etc. Simultaneously, it will help the portfolio managers to develop suitable financial products accordingly. The present study analyses the investment behavior of mutual funds investors, issues relating to the relationship between mutual funds investment and investor demographics and factors affecting mutual funds decisions.

ABSTRACT. Organizational culture refers to successions of attitudes and behaviors espoused by employees of a certain organization, which affect its function and total well-being. It plays a crucial role in determining organization’s strategies and is critical for the success of any organization. Job satisfaction is the employees’ perceptions and attitudes towards the working atmosphere and work experience. The present study has been undertaken to examine the attitude of faculty of University of Delhi towards organizational culture, their job satisfaction levels and also to study the relation between the components of culture and job satisfaction levels.It further examines the impact of demographics (Gender, Age, Experience in present college, Type of College) on job satisfaction levels and components of culture. The results depict only moderate level of job satisfaction, which needs to be improved. Also, a positive correlation has been found between job satisfaction levels and the organizational culture components; therefore, improvement in culture is expected to lead to better levels of job satisfaction as well.

ABSTRACT. Within the organizational domain, different foci of social identification of the employees can be differentiate irrespective of whether they are working in their own home country organization or at any cross-culture organization based at home or abroad. In the context of organizational culture, this paper examines the basis of organizational culture, the distinct organizational culture issues that were a major barrier to each stage of DaimlerChrysler case termed as ‘the merger of equals’ which plagued both the organization for never getting into the right gear. Within this context, the paper discusses the role of organizational culture in DaimlerChrysler case, keeping in stand the Hofstede’s cultural dimensions and to provide guides on how to avoid similar pitfalls in dealing with cross-culture organization and improve their success as the economy goes global.

ABSTRACT. The responsibility of HR Manager is one of the most crucial fulcrums and responsible to interlink the management and employees. Previously, the HR Manager was also known as an autocratic authority and run the show of the organization in his own way. Where erstwhile HR Manager passed orders to the employees, take work, place or transfer them among different departments and so on but with the passage of time, the concept and scope of HR management changed utterly and now they focused to get optimum utilization of manpower, right man for the right job, talent retention and welfare measure. Earlier in small business enterprises, the owner of the Company carried out the responsibility of managing HR activities and now such organizations are bound to recruit the HR Managers for this important assignment.

Employees of any organization are playing critical role for the growth and even for the downfall of that specific organization. Therefore, an employee is the asset for their respective organization. The effectiveness of HR are summarized as; (a) to generate a unique workplace culture; (b) to help the fellow employees and officers for understanding the workplace diversity; (c) it emphasizes on the rules and expectations from its employees; (d) to overcome the employees uncertainty; (e) to play role in strengthening of the organization; (f) training and development activities for the employees and officers; and (g) facilitates communication between HR and employees.

The Human Resource Management (HRM) comprises the prime activities viz: (a) Recruitment and Selection of appropriate work force, (b) Job design and analysis, (c) Salary/wages, compensation and benefits, (d) Training and Development programmes, (e) Workforce planning, (f) Performance appraisal system, and (g) Litigation and court cases.

ABSTRACT. Abstract Purpose: This study traces the evolution of the concept of Emotional Intelligence (EI) and discusses the major models of Emotional Intelligence and their contribution to the theory of Emotional Intelligence. The study also aims to highlights the various scales to measure Emotional Intelligence. Design/ Methodology/Approach: The manuscript is a conceptual study in which various models and measures of Emotional Intelligence are being critically discussed. Findings: The existing literature concludes that Emotional Intelligence concept, its various models and numerous scales designed by researchers help in understanding the one’s own emotions and the emotions of others. Policy Implications: The Findings of the study will be helpful for further research and will be beneficial to HR management to develop strategies which would help in understanding and managing self-emotions and the emotions of the others which would enhance the organizational performance. Originality/Value- This study contributes to the understanding of the emotional intelligence models and various measures which will help the researchers to measure EI in an appropriate way in further studies.

ABSTRACT. The subject of motivation is not new. Over the years, enormous amount of applied research has been created in the field of motivation by various scholars around the globe. The study of motivation has been completed with respect to a number of settings like schools, the organisation, government, academia etc. It has been studied at the level of the individual, the group, and the organization. The purpose of this paper is to study employees’ motivation in consulting firms. The paper aims to provide answers to the questions: what motivates employees in consulting firms, secondly what are the effects of demographic characteristics on motivation of employees in consulting firms?

ABSTRACT. Abstract Women Executives in business organizations can have positive impact on business performance. An interesting survey among the top corporate giants around the world confirms that women have proved their stupendous presence in almost every industry and in huge numbers. They are strong, smart, technically competent and emotionally valiant in comparison to male counterparts. They are rightly called as the new age corporate women. The need for research in this field has arisen because in many organizations women are preferred for middle level and lower level jobs. At top position the number is very less only reason being that they are ‘women’. Decision making ability has always been associated with men. Scientifically, it has been observed that female brain is in no way inferior to male brain at decision making. This paper reviews the contribution of women executives in business performance. Various studies confirms that there is positive association between women executives and business performance. Gender equality in leadership is a topic appearing with increasing frequency among the research reports, books, and opinions. Most of the studies have been conducted in developed countries.