An empirical understanding of countrywide diffusion of third (3G) or/and fourth (4G) generations of Mobile Broadband Services (MBSs) has proven implications for both business and policy of the country. However, extant literature lacks in explanation for the diffusion and forecast of these services in India. We address this gap by analyzing both individual and multigenerational diffusions of 3G and 4G services in India, using Bass, Gompertz, Logistic and Norton-Bass models that utilize a mix of linear and non-linear regression techniques. Additionally, we evaluate the influence of several exogenous variables on the diffusion of those MBSs in India. Our analyses reveal that, firstly in case of diffusion, Bass model estimates are quite sensitive to both 3G and 4G historical data, whereas Gompertz and Logistic models fit well with the same dataset. As expected, Norton-Bass model - encompassing all the successive generations of 2G, 3G and 4G - provides more reliable estimates of the diffusion parameters. Secondly, as far as 3G forecast is concerned, Bass model works better with fixed assumptions of ultimate market potential, whereas Gompertz and Logistic models seem to be more suited for ‘optimistic’ long-range forecasts and ‘conservative’ short-term forecasts, respectively. Our results also show that 4G is diffusing at 6.1 times the speed of 3G diffusion in India, when the total MBS subscription in India is likely to reach 410 million by 2026. Finally, we notice that, among the notable external sources of influence, National Telecom Policy 2012, average revenue per user, and aggregate income variables have significant positive impacts on the diffusion of MBSs in India. © 2019 Elsevier Inc.

We find that firms that change their corporate names to include buzzwords related to cryptocurrencies experience large and permanent valuation gains. We document cumulative abnormal returns of 30 percent in 3 days surrounding such name change announcements. These abnormal returns cannot be explained by industry factors and the small firm effect. The results are robust to outliers and to the choice of the expected returns model used to measure abnormal returns. The abnormal returns generated following cryptocurrency-related name changes are larger and more persistent than those generated following non-cryptocurrency-related name changes. © 2019 Elsevier B.V.

Working lives face several interruptions, either due to employers’ decisions, new regulations or individuals’ choices, resulting in breaks, slumps, stagnations or even exits. Several types of job seekers thus arise due to such interruptions, of which one category comprises individuals seeking to re-enter the workforce after a period of voluntary exit. Most South Asian countries face a challenge of low labor force participation of women with the exit of women significantly high in middle and senior levels of an organization. The Indian workforce reports a reduction in the number of women at higher organizational positions. While the percentage of women employees hired at the entry level across industries is 21, it shrinks to 15% at higher positions; of these 28% quit their jobs at the executive levels. One of the primary reasons for women leaving the workforce is child-birth. However, recent years have seen such women seeking to return to full-time work after a voluntary exit. This chapter shall focus on the experiences of women who left their jobs post child-birth and returned to the industry after a prolonged absence. We use the term re-entry women to describe such women and seek to understand their experiences of re-entry. Based on interviews with 15 women in various professions, we present the work and family expectations as perceived by women and try to understand how they navigate these during re-entry. © Springer Nature Switzerland AG 2020.

To combat the critical stresses of rising urbanization, the government acquires land from private owners using the power of eminent domain. This land assembly causes negative externalities such as increasing social tension and injustice that may impose a long-term threat to stability and sustainable development. Therefore, there is a need to make the land acquisition process more transparent and just. Considering the unique Indian context where informality has a strong presence, we propose an approach based on game theory that models the bargain through a three-stage Nash equilibrium game. Four agents – the government, the private developer, the landowner, and the free rider – are considered. We provide conditional solutions for the generalizable Case and proceed to model different stakeholder behavior patterns through two utility functional forms – linear and exponential. In the linear case, we find that the free rider obtains half of the revenue of the project, whereas the landowner gains between one-fourth and one-half of the revenue. Thus, we highlight the undeniably crucial role free riders play in land acquisition negotiations. However, closed form solutions cannot be obtained for the exponential form, due to which we use simulations to demonstrate a solution procedure. We conclude by stating that the proposed model can be useful in formulating future land policies in a sustainable and inclusive manner, with optimal utility derivations for all concerned stakeholders. Our model can also be extended to other spatial contexts where informality features heavily in the land market, especially in the Global South. © 2019 Elsevier Ltd

Measuring publication success of a researcher is a complicated task as publications are often co-authored by multiple authors, and so, it requires comparison of solo publications with joint publications. In this paper, like Price (1981), we argue for an egalitarian perspective in accomplishing this task. More specifically, we justify the need for an ethical perspective in quantifying academic author by identifying certain ethical difficulties of some popular contemporary indices used for this purpose. And then we show that for any given dataset of research papers, the unique method satisfying the ethical notions of identity independence and performance invariance must be the egaliatarian E-index proposed by Bose, Pal, and Sappington (2010) and Price (1981). In our setting, this egalitarian method divides authorship of joint projects equally among authors and sums across all publications of each author. © 2019 John Wiley & Sons, Ltd.

We propose a new order of financing investments based on the considerations of control and financial constraints in a market with the presence of business groups. We base our analysis on a sample of acquisitions, one of the largest forms of investments, made by India's publicly listed firms from 1997 through 2016. We test the relative propensity of group-affiliated firms, as well as that of standalone (non-affiliated) firms, to finance their investments with stock on the one hand, and either cash or debt on the other. We find that group-affiliated bidders have the greatest propensity to finance their investments with stock when taking over firms affiliated with the same business group (within-group acquisitions), followed by standalone firms making acquisitions (standalone acquisitions). Finally, group-affiliated bidders acquiring either standalone firms or firms not affiliated with their group (outside-group acquisitions) have the lowest propensity to finance their investments with stock. The evidence of higher stock-financing of within-group acquisitions is robust to alternative explanations of tunneling and propping up in business groups. © 2019 Elsevier B.V.

Hofstede’s framework has been immensely popular among practitioners and researchers because of its undeniable practicality. Despite several limitations, the framework has been widely adopted and in continued use. However, recent scholarly critiques have raised serious concerns, even calling for the rejection of the future use of the framework. A deeper analysis is necessary to understand the fundamental considerations in knowledge creation before contemplating an abandonment of a long research tradition. This article systematically examines Hofstede’s framework from a philosophy of science perspective by examining its ontological and epistemological considerations, and related issues, and presents important implications for researchers and managers. © 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group.

Identity theft has impaired e-commerce. To combat the crime, many identity theft countermeasures (ITC) have been proposed. As investments in ITC are substantial and the benefits of such investments are intangible, companies are often hesitant to adopt such measures. This was the motivation for this study of the impact of 526 ITC adoption announcements on short- and long-term market value. The event study shows that such announcements result in positive market return of about U.S. $583 million around the date of announcement. Calendar-time portfolio analysis (CPA) is used for the long-term impact analysis and shows that the adoption of ITC generates positive and significant average monthly return up to 1.5% with control of market risk factors in two years. Subsampling analysis and interaction analysis show that U.S. listing, early ITC adoption, and two- factor authentication may moderate the market value of ITC adopters differently. A number of robustness checks (e.g., Heckman model, cross-sectional regression on Tobin's Q, firm-specific risk factor analysis, subsampling analysis by ICT development, and analysis of security statements in annual reports) are performed. The research provides quantitative evidence of financial gain resulting from adoption of ITC and aspires to raise ITC awareness among industrial practitioners. © 2019 University of Minnesota. All rights reserved.

We study bidding by anchor investors in a two-stage initial public offering (IPO) process and document a negative, causal relation between allocation to anchor investors and underpricing. We find that anchor investors are likely to invest in hard-to-place offerings characterized by valuation uncertainty. We also document a positive relation between allocation to reputed anchor investors and returns up to lock-up expiration. Our evidence provides support for information revelation and targeting specific investors’ theories of book building. Anchor-backed IPOs earn superior returns mainly due to monitoring. Who bids in an IPO seems to matter just as particular types of bids do. © 2018 Financial Management Association International

Industrial Product-Service Systems (IPS2) can provide insights to enhance the environmental sustainability and lower environmental impact. However, its successful realisation for preventing the production of waste, while increasing efficiencies in the uses of energy and human capital remains a highly convoluted problem. This research article aims to address this issue by presenting an innovative uncertainty-based framework that can be used to assist in achieving increased sustainability within the context of IPS2. The developed framework explains the drivers for decision-making and cost to enable sustainability improvements in transforming to industrial services. This is based on academic literature, and multiple case studies of seven industrial companies with over 30 h of semi-structured interviews. The validation of the framework through two case studies demonstrates that uncertainty management can enable resource efficiency and offer sustainable transformation to service provision. © 2018 The Authors

Purpose: This paper aims to examine various factors affecting the pricing of audit services and the selection of auditors in the Indian audit market. This paper also aims to investigate the impact of financial distress conditions on the audit pricing and auditor choice decisions of a firm, particularly in the context of a developing economy. Design/methodology/approach: The sample comprises 22,644 firm-years for 1,366 Indian firms from 1990 to 2015. The authors adopt ordinary least squares regression technique to model audit fee, and logistic regression technique to model auditor choice as a function of various factors relating to firm attributes and auditor characteristics. Findings: This paper finds that auditors tend to charge an audit fee premium when they are affiliated to a Big 4 auditor, have industry specialization or jointly provide auditing and non-auditing services. Additionally, firms with larger boards, higher proportion of independent board of directors and CEO–Chairman separation are more likely to choose a Big 4-affiliated auditor. The results also suggest that financially distressed firms tend to pay significantly lower audit fees and are more likely to choose non-Big 4 auditors. Originality/value: This paper is among the few studies which investigate how financial distress impacts the audit pricing and auditor choice decisions of a firm in the context of emerging economies. The findings of this paper raises serious concerns about the credibility of the audited financial statements and corporate governance mechanisms of firms undergoing financial distress. The empirical results of this paper have strong implications for practitioners, regulators and investors. © 2019, Emerald Publishing Limited.

In this paper, we explore a popular flexible work arrangement (FWA), home-based telework, in the Indian IT industry. We show how IT managers used the dominant meanings of telework to portray telework as an employee benefit that outweighed the attendant cost—intensified work. While using their discretion to grant telework, the managers drew on this portrayal to orchestrate a negotiated exchange with their subordinates. Consequently, the employees consented to accomplish the intensified work at home in exchange of telework despite their opposition to the intensified work in the office. Thus, whereas the extant studies consider work intensification as an unanticipated outcome of using FWAs, we show how firms may use FWAs strategically to get office-based intensified work accomplished at home. While the dominant argument is that employees reciprocate the opportunity to telework with intensified work, we show a discursively orchestrated negotiation that favors management. A corrective policy measure is to frame telework as an employee right. © 2017, Springer Science+Business Media Dordrecht.

Although the behavioral theory of the firm posits that performance shortfalls trigger problemistic search, the actual performance consequences of problemistic search remain an open question. We argue that certain cognitive, affective, and behavioral mechanisms triggered by performance shortfalls make managers more aware, attentive, motivated, and disciplined, resulting in adaptation, learning, and enhanced firm value. Furthermore, differences in the extent to which managers feel pressured to adapt, and have the ability to adapt, can shape managerial awareness, motivation, and capability, and hence firm value. Our empirical analysis, using data for a sample of US manufacturing firms (1994–2013), confirms that problemistic search enhances firm value, and this association is strengthened when firms face greater pressure to adapt or have a greater ability to adapt. © 2019 Elsevier Inc.

Estimating the effect of ethnic capital on human capital investment decisions is complicated by the endogeneity of immigrants’ location choice, unobserved local correlates and the reflection problem. We exploit the institutional setting of a rare immigrant settlement policy in Germany, that generates quasi-random assignment across regions, and identify the causal impact of heterogeneous ethnic capital on educational outcomes of children. Correcting for endogenous location choice and correlated unobservables, we find that children of low-educated parents benefit significantly from the presence of high-educated parental peers of the same ethnicity. High educated parental peers from other ethnicities do not influence children's learning achievements. Our estimates are unlikely to be confounded by the reflection problem since we study the effects of parental peers’ human capital which is pre-determined with respect to children's outcomes. Our findings further suggest an increase in parental aspirations as a possible mechanism driving the heterogeneous ethnic capital effects, implying that profiling peers or ethnic role models could be important for migrant integration policies. © 2019 Elsevier B.V.

There is little consensus globally on the relationship between board diversity and firm performance. Using the resource dependence and agency views, this paper examines how business group affiliation influences the relationship between board diversity and firm performance as a contextual/confounding factor. Based on data for listed firms in India, we find that board demographic diversity is positively associated with the firm performance (Tobin's Q) of standalone firms, but this association is negative for group-affiliated firms. This negative effect of group affiliation is confirmed in a test based on a novel measure of firm performance using the stock market reaction to the announcement of mergers and acquisitions. For both measures of performance, we show that business group affiliation impairs the positive firm value effects of board demographic diversity. These findings imply that the relationship between board diversity and firm performance requires re-examination in the many countries where group affiliation is common. Our results also provide evidence of a new cost of group affiliation and show in a fresh context that cross-country studies should account for international variations in ownership and institutional structures. © 2019 Elsevier Ltd

Purpose: The purpose of this paper is to explore the link between operations of organization control and workers’ response to them in case of telework, a technology-embedded new way of working. Design/methodology/approach: The authors adopted an interpretive approach to explore control and home-based teleworkers’ response in the Indian information technology industry. Interviews and non-participant observations were analysed using constructivist grounded theory. Findings: The discourse of “telework as a privilege” served as a basis for normative control, helping managers exercise increased technocratic control. Combined with the discourse of “self-responsibility to client”, it led teleworkers to self-subjugate to long/unsocial work hours. However, the simultaneous exercise of technocratic and normative controls resulted in an inconsistency, creating space for teleworker’s resistance to technocratic control. Nonetheless, resistance to technocratic control ironically reinforced normative control. Originality/value: The authors contribute to the recent discussion on compatibility and coherence of multiple control modes, and their relationship to resistance. The authors show how workers’ selves can be compatible with one control mode while being incompatible with other modes. The authors argue that when workers’ experience incoherence between control modes, they can appropriate the logic underlying compatible control mode(s) to resist incompatible control mode(s). Further, the authors demonstrate how resistance to incompatible control mode(s) can ironically reinforce compatible control mode(s), and thus explicate the micro-processes of control-resistance dialectic. Advancing the emergent understanding of resistance, the authors show that resistance is an exercise of strategic counter-power that seeks to exploit incoherence between control modes and inconsistencies between actions and rhetoric. © 2019, Emerald Publishing Limited.

Natural disasters like cyclones are a common phenomenon in India, especially in coastal regions. During disaster, victims of a village/ locality normally take shelters in groups in some nearby safe areas (for example, Multi Purpose Cyclone Shelters). Despite of having access to physical infrastructure with basic facilities, disaster victims at cyclone shelters often find it difficult to communicate their exact situational information (like, resource needs and damage information) directly to the local/central authorities. Due to lack of coordination among relief workers and the remote central office, conflicting demands are often generated, causing mismanagement and delay in relief operation. This paper proposes innovative usage of social technology to build resilient community, a mandatory prerequisite to enhance disaster preparedness and coping up mechanisms among collectives inhabited in vulnerable areas. This paper presents an architecture of a Knowledge Informatics Hubs using social technologies at local multipurpose cyclone shelters (MPCS) in coastal areas that will empower the local community members to interact and collaborate with each other, establish communication with various supporting agencies during disaster, establish links with experts and participate in local governance. The aim of creating such a hub would be to create digitally empowered resilient communities who are not only prepared to prevent or minimize the risk of damage to life, property, and the environment due to disaster, but also have the ability to quickly reinstate their normal life and livelihood after a crisis, reopen businesses, and restore other essential services needed for the full economic recovery. © 2019 Association for Computing Machinery.

A randomization-based theory of causal inference from strip-plot designs is developed. For any treatment contrast, we propose an unbiased estimator, work out its sampling variance, and obtain a conservative variance estimator which is shown to enjoy a minimaxity property. © 2019 Elsevier B.V.

Granger causality tests find that the official interest rate (OIR) changes made by the central banks of Australia, China, India, South Korea, Philippines, and Taiwan cause OIR changes at other central banks, but no central bank dominates in its impact. Event study tests show that OIR announcements impact short-term market interest rates more than long-term market interest rates in their own countries. Our study shows that announcements by India and China have the largest impact on the other four countries. Markets anticipate OIR changes consistent with the objective of transparency by monetary authorities to reduce economy uncertainty for market participants. © 2019

In this paper we demonstrate that options contract coordinates single supplier - multiple buyer supply chain network and can eliminate channel conflict stemming from simultaneous price and inventory competition. We show that a pure strategy unique Nash equilibrium exists for buyers’ game and the supplier is able to coordinate the entire supply chain. Our analysis further indicates that options contract provides the supplier with better flexibility in terms of profit allocation compared to buyback contract. We identify a key limitation of this contract: it can coordinate a supply chain only with a limited number of buyers. © 2019 Elsevier Ltd