Search results for: Indian manufacturing firms

Authors: Chen Zhang; Qiang Wang

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With the rapid development of the new generation of digital technology, various industries have created more and more value by using digital technology, accelerating the digital transformation of various industries. The economic form of human society has evolved with the progress of technology, and in this context, the power conversion, transformation and upgrading of the manufacturing industry in terms of quality, efficiency and energy change has become a top priority. Based on the digitalization background, this paper analyzes the transformation and upgrading efficiency of the manufacturing industry and evaluates the impact of the driving factors, which have very important theoretical and practical significance. This paper utilizes qualitative research methods, entropy methods, data envelopment analysis methods and econometric models to explore the transformation and upgrading efficiency of manufacturing enterprises and driving factors. The study shows that the transformation and upgrading efficiency of the manufacturing industry shows a steady increase, and regions rich in natural resources and social resources provide certain resources for transformation and upgrading. The ability of scientific and technological innovation has been improved, but there is still much room for progress in the transformation of scientific and technological innovation achievements. Most manufacturing industries pay more attention to green manufacturing and sustainable development. In addition, based on the existing problems, this paper puts forward suggestions for improving infrastructure construction, developing the technological innovation capacity of enterprises, green production and sustainable development.

Keywords: digitization, manufacturing firms, transformation and upgrading, efficiency, driving factors

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Authors: SeungKu Ahn, Sewon Lee

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This study examines the effects of regulatory policies on corporate R&D activities and innovation and suggests regulatory directions for the enhancement of corporate performance. This study employs a regression model with R&D activities as dependent variables and the regulatory index as an independent variable. The results of this study are as follows: The regulation is negatively associated with the input and output of R&D activities. The regulation encourages small and medium-sized firms to invest in R&D. The regulation has a positive effect on patent applications for small and medium-sized firms.

Keywords: governmental regulation, research and development performance, small and medium-sized firms, technological innovation

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Authors: A. Briseno, A, Zorrilla

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Firms are increasingly responding to social and environmental claims from society. Practices oriented to attend issues such as poverty, work equality, or renewable energy, are being implemented more frequently by firms to address impacts on sustainability. However, questions remain on how the responses of firms vary across industries and regions between the social and the economic objectives. Using concepts from organizational theory and social network theory, this paper aims to create a theoretical framework that explains the internal and external influences that make a firm establish its objective. The framework explains why firms might have a different objective orientation in terms of its economic and social prioritization.

Keywords: organizational identity, social network theory, firm objective, value maximization, social responsibility

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Authors: Henry Kiptum Yatich, Ronald Chepkilot, Aquilars Mutuku Kalio

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Studies on energy management have focused on environmental conservation, reduction in production and operation expenses. However, transferring gains of energy management practices to competitive advantage is importance to manufacturers in Kenya. Success in managing competitive advantage arises out of a firm’s ability in identifying and implementing actions that can give the company an edge over its rivals. Manufacturing firms in Kenya are the highest consumers of both electricity and petroleum products. In this regard, the study posits that transfer of the gains of energy management practices to competitive advantage is imperative. The study was carried in Nairobi and its environs, which hosts the largest number of manufacturers. The study objectives were; to determine the level of implementing energy management regulations on sustaining competitive advantage, to determine the level of implementing company energy management policy on competitive advantage, to examine the level of implementing energy efficient technology on sustaining competitive advantage, and to assess the percentage energy expenditure on sustaining competitive advantage among manufacturing firms. The study adopted a survey research design, with a study population of 145,987. A sample of 384 respondents was selected randomly from 21 proportionately selected firms. Structured questionnaires were used to collect data. Data analysis was done using descriptive statistics (mean and standard deviations) and inferential statistics (correlation, regression, and T-test). Data is presented using tables and diagrams. The study found that Energy Management Regulations, Company Energy Management Policies, and Energy Expenses are significant predictors of Competitive Advantage (CA). However, Energy Efficient Technology as a component of Energy Management Practices did not have a significant relationship with Competitive Advantage. The study revealed that the level of awareness in the sector stood at 49.3%. Energy Expenses in the sector stood at an average of 10.53% of the firm’s total revenue. The study showed that gains from energy efficiency practices can be transferred to competitive strategies so as to improve firm competitiveness. The study recommends that manufacturing firms should consider energy management practices as part of its strategic agenda in assessing and reviewing their energy management practices as possible strategies for sustaining competitiveness. The government agencies such as Energy Regulatory Commission, the Ministry of Energy and Petroleum, and Kenya Association of Manufacturers should enforce the energy management regulations 2012, and with enhanced stakeholder involvement and sensitization so as promote sustenance of firm competitiveness. Government support in providing incentives and rebates for acquisition of energy efficient technologies should be pursued. From the study limitation, future experimental and longitudinal studies need to be carried out. It should be noted that energy management practices yield enormous benefits to all stakeholders and that the practice should not be considered a competitive tool but rather as a universal practice.

Keywords: energy, efficiency, management, guidelines, policy, technology, competitive advantage

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Authors: Patricia Chinyere Oranefo

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This study examined the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The dearth of empirical evidence and literature on “governance disclosure” as one of the explanatory variables of sustainability accounting reporting were the major motivation for this study. The main objective was to ascertain the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprises of five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NSX) and the sample size of four (4) listed firms was drawn using purposive sampling method. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2012 to 2021 of the Brewery firms quoted on the Nigeria exchange group (NSX). Panel regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The results showed that economic sustainability disclosure indexes do not significantly affect return on asset of listed Brewery firms in Nigeria. The findings further revealed that environmental sustainability disclosure indexes do not significantly affect return on equity of listed Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes significantly affect Net Profit Margin of listed Brewery firms in Nigeria. Finally, the result established also that governance sustainability disclosure indexes do not significantly affect Earnings per share of listed Brewery firms in Nigeria. Consequent upon the findings, this study recommended among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index (GRI) as they are capable of exerting significant effect on financial performance of firms in Nigeria.

Keywords: sustainability, accounting, disclosure, financial performance

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Authors: Furry A. Wilis, Dewi Larasati, Suhendri

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Around 96% of architecture firms in Indonesia are classified as small-medium enterprises (SME). This number shows that the SME firms have an important role in architecture, engineering, and construction (AEC) industry in Indonesia. Some of them are still using conventional system (2D based) in arranging construction project documents. This system is fragmented and not fully well-coordinated, so causes many changes in the whole project cycle. Building information modeling (BIM), as a new developed system in Indonesian construction industry, has been assumed can decrease changes in the project. But BIM has not fully implemented in Indonesian AEC industry, especially in SME architecture firms. This article identifies the challenges of implementing BIM in SME architecture firms in Indonesia. Quantitative-explorative research with questionnaire was chosen to achieve the goal of this article. The scarcity of skilled BIM user, low demand from client, high investment cost, and the unwillingness of the firm to switch into BIM were found as the result of this paper.

Keywords: architecture consultants, BIM, SME, Indonesia

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Authors: Asyraf Abdul Halim, Mohd Edil Abd Sukor, Obiyathulla Ismath Bacha

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This paper attempts to investigate the capital structure behavior of Shariah compliant firms of various levels as well those firms who are consistently Shariah non-compliant in Malaysia. The paper utilizes a unique dataset of firms of the heterogeneous level of Shariah-compliancy status over a 20 year period from the year 1997 to 2016. The paper focuses on the effects of dynamic forces behind capital structure variation such as the optimal capital structure behavior based on the trade-off, pecking order, market timing and firmly fixed effect models of capital structure. This study documents significant evidence in support of the trade-off theory with a high speed of adjustment (SOA) as well as for the time-invariant firm fixed effects across all Shariah compliance group.

Keywords: capital structure, market timing, trade-off theory, equity risk premium, Shariah-compliant firms

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Authors: Takahiro Togawa, Nguyen Huu Phuc, Shigeyuki Haruyama, Oke Oktavianty

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Our research focuses on a framework which analyses the relationship between product/process architecture, manufacturing organizational capability and manufacturing "implicit competitiveness" in order to improve manufacturing implicit competitiveness. We found that 1) there is a relationship between architecture-based manufacturing organizational capability and manufacturing implicit competitiveness, and 2) analysis and measures conducted in manufacturing organizational capability proved effective to improve manufacturing implicit competitiveness.

Keywords: implicit competitiveness, QCD, organizational capacity, architectural strategy

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Authors: Khalil Aghapouramin, Mostafa Ranjbar

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Run- to- Run (R2 R) control was developed in order to monitor and control different semiconductor manufacturing processes based upon the fundamental engineering frameworks. This technology allows rectification in the optimum direction. This control always had a significant potency in which was appeared in a variety of processes. The term run to run refers to the case where the act of control would take with the aim of getting batches of silicon wafers which produced in a manufacturing process. In the present work, a brief review about run-to-run control investigated which mainly is effective in the manufacturing process.

Keywords: Run-to-Run (R2R) control, manufacturing, process in engineering, manufacturing controls

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Authors: Milton Ayoki, Edward Bbaale

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This paper analyses the relationship between innovation and employment at firm level with the objective of understanding the contribution of the different innovation strategies in fostering employment growth in Uganda. We use National Innovation Survey (micro-data of 705 Ugandan firms) for the period 2011-2014 and follow closely Harrison et al. (2014) structured approach, and relate employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products. We find positive effects of product innovation on employment at firm level, while process innovation has no discernable impact on employment. Although there is evidence to suggest displacement of labour in some cases where firms only introduce new process, this effect is compensated by growth in employment from new products, which for most firms are introduced simultaneously with new process. Results suggest that source of innovation as well as size of innovating firms or end users of innovation matter for job growth. Innovation that develops from within the firm itself (user) and involving larger firms has greater impact on employment than that developed from outside or coming from within smaller firms. In addition, innovative firms are one and half times more likely to survive in the innovation driven economy environment than those that do not innovate. These results have important implications for policymakers and stakeholders in innovation ecosystem. Supporting policies need to be correctly tailored since the impacts depend on the innovation strategy (type) and characteristics and sector of the innovative firms (small, large, industry, etc.). Policies to spur investment, particularly in innovative sectors and firms with high growth potential would have long lasting effects on job creation. JEL Classification: D24, J0, J20, L20, O30.

Keywords: employment, process innovation, product innovation, Sub-Saharan Africa

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Authors: Deepika Joshi

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Operations in automotive industry rely greatly on information shared between Supply Chain (SC) partners. This leads to efficient and effective management of SC activity. Automotive sector in India is growing at 14.2 percent per annum and has huge economic importance. We find that no study has been carried out on the role of information sharing in SC management of Indian automotive manufacturers. Considering this research gap, the present study is planned to establish the significance of information sharing in Indian auto-component supply chain activity. An empirical research was conducted for large scale auto component manufacturers from India. Twenty four Supply Chain Performance Indicators (SCPIs) were collected from existing literature. These elements belong to eight diverse but internally related areas of SC management viz., demand management, cost, technology, delivery, quality, flexibility, buyer-supplier relationship, and operational factors. A pair-wise comparison and an open ended questionnaire were designed using these twenty four SCPIs. The questionnaire was then administered among managerial level employees of twenty-five auto-component manufacturing firms. Analytic Network Process (ANP) technique was used to analyze the response of pair-wise questionnaire. Finally, twenty-five priority indexes are developed, one for each respondent. These were averaged to generate an industry specific priority index. The open-ended questions depicted strategies related to information sharing between buyers and suppliers and their influence on supply chain performance. Results show that the impact of information sharing on certain performance indicators is relatively greater than their corresponding variables. For example, flexibility, delivery, demand and cost related elements have massive impact on information sharing. Technology is relatively less influenced by information sharing but it immensely influence the quality of information shared. Responses obtained from managers reveal that timely and accurate information sharing lowers the cost, increases flexibility and on-time delivery of auto parts, therefore, enhancing the competitiveness of Indian automotive industry. Any flaw in dissemination of information can disturb the cycle time of both the parties and thus increases the opportunity cost. Due to supplier’s involvement in decisions related to design of auto parts, quality conformance is found to improve, leading to reduction in rejection rate. Similarly, mutual commitment to share right information at right time between all levels of SC enhances trust level. SC partners share information to perform comprehensive quality planning to ingrain total quality management. This study contributes to operations management literature which faces scarcity of empirical examination on this subject. It views information sharing as a building block which firms can promote and evolve to leverage the operational capability of all SC members. It will provide insights for Indian managers and researchers as every market is unique and suppliers and buyers are driven by local laws, industry status and future vision. While major emphasis in this paper is given to SC operations happening between domestic partners, placing more focus on international SC can bring in distinguished results.

Keywords: Indian auto component industry, information sharing, operations management, supply chain performance indicators

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Authors: Ramona Zharfpeykan

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This study analyses the trend and nature of sustainability key performance indicators (KPIs) reporting in firms globally. It presents both trend and panel data of sustainability reports of 798 firms in the Global Reporting Initiative (GRI) database from 2010 to 2014. The results show some fluctuations in the frequency of sustainability KPI reporting globally across the time while the major focus of reports in firms stayed almost the same. It made us further analyse this trend and found that there are some indicators, such as 'environmental protect expenses' and 'number of grievances', that was barely reported over this period along with some highly popular ones such as 'direct economic value' and 'employment rate'. We could not find any statistical correlation between the KPI reporting percentage and the firms’ industries generally and neither if they belong to environmentally sensitive industries.

Keywords: global reporting initiatives, sustainability reporting, sustainability KPI, trends of sustainability reporting

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Authors: Dimitrios Kafetzopoulos

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Nowadays, companies are more concerned with adopting their own strategies for increased efficiency and sustainability. Dynamic environments are fertile fields for developing operational changes. For this purpose, organizations need to implement an advanced management philosophy that boosts changes to companies’ operation. Changes refer to new applications of knowledge, ideas, methods, and skills that can generate unique capabilities and leverage an organization’s competitiveness. So, in order to survive and compete in the global and niche markets, companies should incorporate the adoption of operational changes into their strategy with regard to their products and their processes. Creating the appropriate culture for changes in terms of products and processes helps companies to gain a sustainable competitive advantage in the market. Thus, the purpose of this study is to investigate the role of both incremental and radical changes into operations of a company, taking into consideration not only product changes but also process changes, and continues by measuring the impact of these two types of changes on business efficiency and sustainability of Greek manufacturing companies. The above discussion leads to the following hypotheses: H1: Radical operational changes have a positive impact on firm efficiency. H2: Incremental operational changes have a positive impact on firm efficiency. H3: Radical operational changes have a positive impact on firm sustainability. H4: Incremental operational changes have a positive impact on firm sustainability. In order to achieve the objectives of the present study, a research study was carried out in Greek manufacturing firms. A total of 380 valid questionnaires were received while a seven-point Likert scale was used to measure all the questionnaire items of the constructs (radical changes, incremental changes, efficiency and sustainability). The constructs of radical and incremental operational changes, each one as one variable, has been subdivided into product and process changes. Non-response bias, common method variance, multicollinearity, multivariate normal distribution and outliers have been checked. Moreover, the unidimensionality, reliability and validity of the latent factors were assessed. Exploratory Factor Analysis and Confirmatory Factor Analysis were applied to check the factorial structure of the constructs and the factor loadings of the items. In order to test the research hypotheses, the SEM technique was applied (maximum likelihood method). The goodness of fit of the basic structural model indicates an acceptable fit of the proposed model. According to the present study findings, radical operational changes and incremental operational changes significantly influence both efficiency and sustainability of Greek manufacturing firms. However, it is in the dimension of radical operational changes, meaning those in process and product, that the most significant contributors to firm efficiency are to be found, while its influence on sustainability is low albeit statistically significant. On the contrary, incremental operational changes influence sustainability more than firms’ efficiency. From the above, it is apparent that the embodiment of the concept of the changes into the products and processes operational practices of a firm has direct and positive consequences for what it achieves from efficiency and sustainability perspective.

Keywords: incremental operational changes, radical operational changes, efficiency, sustainability

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Authors: Umut Erksan Senalp

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The aim of this study is to examine the link between firm level productivity heterogeneity and firm’s decision to export. Thus, we test the self selection hypothesis which suggests only more productive firms self select themselves to export markets. We analyze UK manufacturing sector by using firm-level data for the period 2003-2011. Although our preliminary results suggest that exporters outperform non-exporters when we pool all manufacturing industries, when we examine each industry individually, we find that self-selection hypothesis does not hold for each industries.

Keywords: total factor productivity, firm heterogeneity, international trade, decision to export

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Authors: Joseph Berlin P. Juanzon, Manuel M. Muhi

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Motivating SME-based construction firms to adopt different management systems is not a simple task, especially if they are not aware of the benefits that they will gain from the new process-based management system. The implementation of ISO 9001:2008, Quality Management System in the construction industry is an ongoing trend, more so in the Small and Medium Enterprise. However, the level of awareness and readiness of the construction industry in the Philippines is still low as compared to the neighboring countries in Asia and in the western countries where ISO 9001:2008 originated. The purpose of this research is to determine the significant factors that will motivate SME-based construction firms in the Philippines to implement ISO 9001:2008. A field study was conducted on SME based construction firms in the Philippines, wherein a total of 139 respondents out of the 613 SME-based construction firms in CALABARZON areas were surveyed. Results reveal that the three main factors that will motivate SME-based construction firms to implement ISO 9001:2008 are: - if required by their clients, - to qualify for bidding, and - to increase customer satisfaction. Therefore, based on the results and findings, a certification of ISO 9001:2008 from an accredited auditor shall be required by clients as a constituent in accrediting SME-based construction firms and to qualify for bidding.

Keywords: construction, ISO 9001:2008, quality management systems (QMS), small medium enterprise (SME)

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Authors: Sewe Silvanus Odhiambo

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Globally, many governments have publicly recognized private security firms as essential services providers. The private security firms face a lot of challenges, but the COVID-19 situation also has exacerbated them to another level. This paper locates its relevance in the post-coronavirus era. The COVID-19 pandemic has redefined the world operation, which shows a higher impact on the security field. Accordingly, the purpose of the study was to examine the role of corporate governance on the performance of private security firms in a post-covid pandemic era in Kenya. The study employed a descriptive research design, which included a quantitative approach and secondary data. The study was carried in the month of July 2021 from the registered private security firms. After targeting all private security firms, only 54 firms had disclosed their annual report by the time of conducting the study. The results depicted that pandemic has affected the performance of private security firms measures unfavorably. Further, boards of directors show a positive association with security firm performance. The study recommends that there is need board of directors to enhance management’s risk assessments in the midst of COVID-19; ensure that there are business continuity plans; there is organizational resilience; there is need for the development of new digital strategies; enabling the digital workforce in the firms and have effective communication plans with both internal and external stakeholders to deal with uncertainties and develop more post-COVID practices for boards of directors to improve performance of private security firms in Kenya. The practical implications of the study are that the research outcomes might assist regulatory bodies, investors, policymakers, and the security sector in general in their formulation of public and corporate governance strategies concerning future emergency preparedness and responses. This study also provides a unique contribution to the literature of COVID-19 and security firm performance in emerging economies context.

Keywords: COVID-19, corporate governance, firm performance, private security firms

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Authors: Shivani Kolarkar

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Splendid growth in Indian IT has generated women employment on a large scale in India and continues to do it. Indian IT industry has achieved this in spite of total masculine dominance in other Indian engineering industries, where the ratio of women employment is almost negligible as compared to men. Indian IT today proudly enjoys a strong pool of technically educated, intellectual, and skillful women employees. IT industry has encouraged technical education for women in India, to a great extent. The software industry has definitely contributed to developing a positive and dignified role and status of women employees in Indian IT industry. It has promoted women’s social and economic role and status. In spite of all, gender discrimination still persists in Indian IT, also, which is low as compared to other industries, but it is a matter of concern. An Indian woman is bound to carry dual roles which are equally over-stressed for IT women employees. Long working hours, night shifts, work pressures and insufficient safety majors and necessary facilities for women contributes to making her physical-mental life, family and married life troublesome. Which forces her either to cluster at low-end jobs in IT/elsewhere or to sacrifice her career. Nature, role and status of HRM needs to be broadened, deepened and shaped into research-oriented multidimensional perspective in the context of really enhancing role and status of Indian IT women with high appreciation of women employees’ dignity and entity.

Keywords: attrition, gender discrimination, HRM, Indian IT, software industry, job satisfaction, safety, technical education, women employment

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Authors: Ananya Mitra Pramanik, Anjali Agrawal

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The objective of this paper is to trace the origin and evolution of clothing in the Indian Subcontinent. The paper seeks to understand the need for mankind to shed his natural state and adopt clothing as an inseparable accessory for his body. It explores the various theories of the origin of clothing. The known journey of clothing of this region started from the Indus Valley Civilisation which dates back to 2500 BC. Due to the weather conditions of the region, few actual samples have survived, and most of the knowledge of textiles is derived from the sculptures and other remains from this era. The understanding of textiles of the period after the Indus Valley Civilisation (2500-1500 BC) till the Mauryan and the Sunga Period (321-72 BC) comes from literary sources, e.g., Vedas, Smritis, the eminent Indian epics of the Ramayana and the Mahabharata, forest books, etc. Textile production was one of the most important economic activities of this region. It was next only to agriculture. While attempting to trace the history of clothing the paper draws the evolution of Indian traditional fashion through the change of rulers of this region and the development of the modern Indian traditional dress, i.e., sari, salwar kamiz, dhoti, etc. The major aims of the study are to define the different time periods chronologically and to inspect the major changes in textile fashion, manufacturing, and materials that took place. This study is based on secondary research. It is founded on data taken primarily from books and journals. Not much of visuals are added in the paper as actual fabric references are near nonexistent. It gives a brief history of the ancient textiles of India from the time frame of 2500 BC-8th C AD.

Keywords: evolution, history, origin, textiles

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Authors: Ajay Das, Sandip Basu

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Introduction: There is increasing recognition that diverse streams of knowledge can often be recombined in novel ways to generate new knowledge. However, knowledge recombination theory has not been applied to examine the effects of collaborator diversity on the quality of knowledge such collaborators produce. This is surprising because one would expect that a collaborative team with certain aspects of diversity should be able to recombine process elements related to knowledge development, which are relatively tacit, but also complementary because of the collaborator’s varying backgrounds. Theory and Hypotheses: We propose to examine two aspects of diversity in the environments of collaborative teams to try and capture such potential recombinations of relatively tacit, process knowledge. The first aspect of diversity in team members’ environments is geographical. Collaborators with more geographical distance between them (perhaps working in different countries) often have more autonomy in the processes they adopt for knowledge development. In the absence of overt monitoring, such collaborators are likely to adopt differing approaches to knowledge development. The sharing of such varying approaches among collaborators is likely to result in greater quality of the common collaborative pursuit. The second aspect is diversity in the work backgrounds of team members. Such diversity can also increase the potential for knowledge recombination. For example, if one or more members are from a manufacturing center (versus all of them being from a purely R&D center), such members will provide unique perspectives on the implementation of innovative ideas. Again, knowledge that has been evaluated from these diverse perspectives is likely to be of a higher quality. In addition to the above aspects of environmental diversity among team members, we also plan to examine the extent to which individual collaborators are in different environments from the primary innovation center of their employing firms. Proposed Methods: We will test our model on a sample of firms in the semiconductor industry. Our level of analysis will be individual patents generated by these firms and the teams involved in the generation of these. Information on manufacturing activities of our sample firms will be obtained from SEMI, a proprietary database of the semiconductor industry, as well as company 10-K reports. Conclusion: We believe that our results will represent a preliminary attempt to understand how various forms of diversity in collaborative teams impact the knowledge development process. Our dependent variable of knowledge quality is important to study since higher values of this variable can not only drive firm performance but the broader development of regions and societies through spillover impacts on future innovation. The results of this study will, therefore, inform future research and practice in innovation, geographical location, and vertical integration.

Keywords: innovation, manufacturing strategy, knowledge, diversity

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Authors: Manish Manohar Hingorani

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The purpose of the research is to find out the level of understanding, adoption, and implementation of CRM in Indian Businesses, either product/ service and the processes which should be followed to ensure minimal to no customer churn and further enhance loyalty. The study used comprehensive qualitative interviews of 36 respondents across mid and senior-level management in product and services organizations of Indian origin. The findings of the study exhibit a gap between the understanding, adoption and implementation of CRM in the Indian context. Different Industries have attributed different levels of understanding, adoption, and limited implementation studies on CRM to the Indian context exists in different industries, but studies related to the consequences of not understanding the true meaning of CRM at the grass root level and further than on non-adoption and non-implementation will have an adverse effect on the customer loyalty, and customer satisfaction leading to customer churn. As this was a qualitative approach, the analysis was content-based and discourse based. The responses were taken from mid to very-senior management decision-makers in organizations of Indian origin.

Keywords: customer relationship management, Indian consumer, customer loyalty, customer experience, customer satisfaction

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Authors: Edmund Gyimah

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Using data from 146 annual reports of listed firms in Ghana for the period 2013-2020, this study presents indicative findings which inspire practical actions and future research. Firms which prepared and presented sustainability reports were excluded from this study for a coverage of corporate sustainability disclosures centred on annual reports. Also, corporate sustainability disclosures of the firms on corporate websites were not included in the study considering the tendency of updates which cannot easily be traced. The corporate sustainability disclosures in the annual reports since the commencement of the G4 Guidelines in 2013 have been below average for all the dimensions of sustainability and the general sustainability disclosures. Few traditional elements of the board composition such as board size and board independence could affect the corporate sustainability disclosures in the annual reports as well as the age of the firm, firm size, and industry classification of the firm. Sustainability disclosures are greater in sustainability reports than in annual reports, however, firms without sustainability reports should have a considerable amount of sustainability disclosures in their annual reports. Also, because of the essence of sustainability, this study suggests to firms to have sustainability committee perhaps, they could make a difference in disclosing the enough sustainability information even when they do not present sustainability information in stand-alone reports.

Keywords: disclosures, sustainability, board, reports

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Authors: Rajan Deglurkar

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The research carried out in this piece of work is on 'Framework of Sustainable Manufacturing for Small and Medium Enterprises'. It consists of elucidation of concepts about sustainable manufacturing and sustainable product development with critical review performed on seven techniques of sustainable manufacturing. The work also covers the survey about critical review of awareness in the market with respect to the manufacturers and the consumers. The factors and challenges for sustainable manufacturing implementation are reviewed and simple framework is constructed for the small and medium enterprise for successful implementation of sustainable manufacturing and sustainable product.

Keywords: sustainable development, sustainable manufacturing, resource efficiency, framework for sustainable manufacturing

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Authors: Muhammad Shehu Garba

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The financial statements of the firms between the periods of 2013 and 2022 were collected using the secondary method of data collection, and the study aims to investigate the effect of ownership structure on the financial performance of listed industrial goods companies in Nigeria. 10 firms were used as the study's sample size. The study used panel data variables of the study. The ownership structure is measured with managerial ownership, institutional ownership and foreign ownership, while financial performance is measured with return on asset and return on equity; the study made use of control variables leverage and firm size. The result shows a multivariate relationship that exists between variables of the study, which shows ROA has a positive correlation with ROE (0.4053), MO (0.2001), and FS (0.3048). It has a negative correlation with FO (-0.1933), IO (-0.0919), and LEV (-0.3367). ROE has a positive correlation with ROA (0.4053), MO (0.2001), and FS (0.2640). It has a negative correlation with FO (-0.1864), IO (-0.1847), and LEV (-0.0319). It is recommended that firms should focus on increasing their ROA. Firms should also consider increasing their MO, as this can help to align the interests of managers and shareholders. Firms should also be aware of the potential impact of FO and IO on their ROA.

Keywords: firm size, ownership structure, financial performance, leaverage

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Authors: Haruna Maama

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Environmental, social and governance (ESG) reporting is gaining considerable attention despite being voluntary. Meanwhile, it consumes resources to provide ESG reporting, raising a question of its value relevance. The study examined the impact of ESG reporting on the market value of listed firms in SSA. The annual and integrated reports of 276 listed sub-Sahara Africa (SSA) firms. The integrated reporting scores of the firm were analysed using a content analysis method. A multiple regression estimation technique using a GMM approach was employed for the analysis. The results revealed that ESG has a positive relationship with firms’ market value, suggesting that investors are interested in the ESG information disclosure of firms in SSA. This suggests that extensive ESG disclosures are attempts by firms to obtain the approval of powerful social, political and environmental stakeholders, especially institutional investors. Furthermore, the market value analysis evidence is consistent with signalling theory, which postulates that firms provide integrated reports as a signal to influence the behaviour of stakeholders. This finding reflects the value placed on investors' social, environmental and governance disclosures, which affirms the views that conventional investors would care about the social, environmental and governance issues of their potential or existing investee firms. Overall, the evidence is consistent with the prediction of signalling theory. In the context of this theory, integrated reporting is seen as part of firms' overall competitive strategy to influence investors' behaviour. The findings of this study make unique contributions to knowledge and practice in corporate reporting.

Keywords: environmental accounting, ESG accounting, signalling theory, sustainability reporting, sub-saharan Africa

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Authors: Su-Ping Liu, Yue Tian, Yifan Shen

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This study investigates the effect of corporate governance on earnings management when firms have reported a long stream of earnings increases (hereafter referred to as earnings beaters). We expect that good quality of corporate governance decreases the probability of income-increasing earnings management. We employ transparent tools to capture firms’ opportunistic management behavior, specifically, the repurchase of stock. In addition, we use corporate governance proxies to measure the degree of corporate governance, including board size, board independence, CEO duality, and the frequency of meeting. The results hold after the controlling of variables that suggested in prior literature. We expect that the simple technique, that is, firms’ degree of corporate governance, to be used as an inexpensive first step in detecting earnings management.

Keywords: corporate governance, earnings management, earnings patterns, stock repurchase

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Authors: Emma M. Iglesias

Abstract:

We have analyzed extreme movements of the main stocks traded in the Eurozone in the 2000-2012 period. Our results can help future very-risk-averse investors to choose their portfolios in the Eurozone for risk management purposes. We find two main results. First, we can clearly classify firms by economic sector according to their different estimated VaR values in five of the seven countries we analyze. In special, we find sectors in general where companies have very high (telecommunications and banking) and very low (petroleum, utilities, energy and consumption) estimated VaR values. Second, we only find differences according to the geographical situation of where the stocks are traded in two countries: (1) all firms in the Irish stock market (the only financially rescued country we analyze) have very high estimated VaR values in all sectors; while (2) in Spain all firms have very low estimated VaR values including in the banking and the telecommunications sectors. All our results are supported when we study also the expected shortfall of the firms.

Keywords: risk management, firms, pareto tail thickness parameter, GARCH-type models, value-at-risk, extreme value theory, heavy tails, stock indexes, eurozone

Procedia PDF Downloads 349

Authors: Mahmoud F. Mohamadin, Ahmed Abdel Malek, Wessam Said

Abstract:

Achieving energy efficient architecture in general, and in emerging countries in particular, is a challenging process that requires the contribution of various governmental, institutional, and individual entities. The rule of architectural design is essential in this process as it is considered as one of the earliest steps on the road to sustainability. Architectural firms have a moral and professional responsibility to respond to these challenges and deliver buildings that consume less energy. This study aims to evaluate the design processes and tools in practice of Egyptian architectural firms based on a limited survey to investigate if their processes and methods can lead to projects that meet the Egyptian Code of Energy Efficiency Improvement. A case study of twenty architectural firms in Cairo was selected and categorized according to their scale; large-scale, medium-scale, and small-scale. A questionnaire was designed and distributed to the firms, and personal meetings with the firms’ representatives took place. The questionnaire answered three main points; the design processes adopted, the usage of performance-based simulation tools, and the usage of BIM tools for energy efficiency purposes. The results of the study revealed that only little percentage of the large-scale firms have clear strategies for building energy efficiency in their building design, however the application is limited to certain project types, or according to the client request. On the other hand, the percentage of medium-scale firms is much less, and it is almost absent in the small-scale ones. This demonstrates the urgent need of enhancing the awareness of the Egyptian architectural design community of the great importance of implementing these methods starting from the early stages of the building design. Finally, the study proposed recommendations for such firms to be able to create a healthy built environment and improve the quality of life in emerging countries.

Keywords: architectural firms, emerging countries, energy efficiency, performance-based simulation tools

Procedia PDF Downloads 262

Authors: Kedarnath Awati

Abstract:

Some parallels between Indian Art Music and Western Art Music, such as the identity of the basic heptatonic scale structure, are quite obvious and need no further discussion. Other parallels are far less obvious, and it is one of them that the author is interested in. Specifically, the author would like to make a serious claim that in both types of music, there is an unspoken dependence on melody. Yes, it is true that the techniques that the two systems use for elaboration are very, very different: Western music uses the techniques of harmony, counterpoint, orchestration and motivic variation, while the Indian systems, both the Hindustani and the Carnatic traditions use the technique of raagdaari. The reason that this point is barely spoken about is that both in the West as well as in India, artists tend to think of melody as something elementary or as something 'given'. The Indian musicians would much rather dwell upon this or that meend or taan or other technical device, while the West thinks that melody is passé and would rather discuss the merits and demerits of spectralism and perhaps serialism. The author would like to explore this theme further in his paper.

Keywords: Indian art music, Western art music, melody, raagdaari, motivic variation.

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Authors: D. Garg, S. Luthra, A. Haleem

Abstract:

Reverse logistics (RL) is supposed to be a systematic procedure that helps in improving the environmental hazards and maintain business sustainability for industries. Industries in Indian are now opting for adoption of RL techniques in business. But, RL practices are not popular in Indian industries because of many barriers for its successful implementation. Therefore, need arises to identify and evaluate the barriers to implement RL practices by taking an Indian industries perspective. Literature review approach and case study approach have been adapted to identify relevant barriers to implement RL practices. Further, Fuzzy Decision Making Trial and Evaluation Laboratory methodology has been brought into use for evaluating causal relationships among the barriers to implement RL practices. Seven barriers out of ten barriers have been categorized into the cause group and remaining into effect group. This research will help Indian industries to manage these barriers towards effective implementing RL practices.

Keywords: barriers, decision making trial and evaluation laboratory (DEMATEL), fuzzy set theory, Indian industries, reverse logistics (RL)

Procedia PDF Downloads 305

Authors: Seifoddini Hamid, Mardikoraeem Mahsa, Ghorayshi Roya

Abstract:

Manufacturing facility location selection is an important strategic decision for many industrial corporations. In this paper, a new approach to the manufacturing location selection problem is proposed. In this approach, cluster analysis is employed to identify suitable manufacturing locations based on economic, social, environmental, and political factors. These factors are quantified using the existing real world data.

Keywords: manufacturing facility, manufacturing sites, real world data

Procedia PDF Downloads 544