Home Menu
icon-menu-close.svg

Faculty & Research

Faculty & Research

Research Productive

Show result

Clear
Search Query :
Area :
Search Query :
626 items in total found

Journal Articles | 2023

Going the Extra Mile: What Taxi Rides Tell Us About the Long-Hour Culture in Finance

Deniz Okat and Ellapulli V. Vasudevan

We analyze banks’ “protected-weekend” policies that restrict junior bankers from working during weekends. We use taxi rides from bank addresses in New York City to infer bankers’ working hours. We find the policies induced bankers to shift their work to late-night hours on weekdays. We then investigate whether such shifts in working hours affected the quality of work. After the policy, analysts of the policy-implementing banks make more errors in their earnings forecasts. They also herd more toward the consensus in their forecasts. We further provide evidence that junior bankers are the most adversely affected by the policy.

Go to link
Read More

Journal Articles | 2023

Cooperative Security Against Interdependent Risks

Sanjith Gopalakrishnan, Sriram Sankaranarayanan

Firms in interorganizational networks are exposed to interdependent risks that are transferable across partner firms, such as contamination in food supply chains or data breaches in technology networks. They can be decomposed into intrinsic risks a firm faces from its own operations and extrinsic risks transferred from its partners. Firms have access to two security strategies: either they can independently eliminate both intrinsic and extrinsic risks by securing their links with partners or, alternatively, firms can cooperate with partners to eliminate sources of intrinsic risk in the network. We develop a graph-theoretic model of interdependent security and demonstrate that the network-optimal security strategy can be computed in polynomial time. Then, we use cooperative game-theoretic tools to examine, under different informational assumptions, whether firms can sustain the network-optimal security strategy via suitable cost-sharing mechanisms. We design a novel cost-sharing mechanism: a restricted variant of the well-known Shapley value, the agreeable allocation, that is easy to compute, bilaterally implementable, ensures stability, and is fair. However, the agreeable allocation need not always exist. Interestingly, we find that in networks with homogeneous cost parameters, the presence of locally dense clusters of connected firms precludes the existence of the agreeable allocation, while the absence of sufficiently dense clusters (formally, k-cores) guarantees its existence. Finally, using the SDC Platinum database, we consider all interfirm alliances formed in the food manufacturing sector from 2006 to 2020. Then, with simulated cost parameters, we examine the practical feasibility of identifying bilaterally implementable security cost-sharing arrangements in these alliances.

Go to link
Read More

Journal Articles | 2023

Infrastructure and Finance: Evidence from India's GQ Highway Network

Abhiman Das, Ejaz Ghani, Arti Grover Goswami, William R. Kerr & Ramana Nanda

We use data from Reserve Bank of India to study the impact of India’s Golden Quadrilateral (GQ) highway project on finance-dependent activity. Loan volumes increase by 20%–30% in districts along GQ and are stronger in industries more dependent upon external finance. Loan growth begins with increases in average branch size and in places with more pre-GQ loan activity. New branch openings come later, consistent with short-run adjustment costs to expanding branch networks. These patterns are not evident in placebo tests using delayed investments in NS-EW highways. Results suggest the depth of initial financial infrastructure shapes how infrastructure investments impact localities.

Go to link
Read More

Journal Articles | 2023

An Overarching Conceptual Framework for ICT-enabled Responsive Governance

Amit Anand Tiwari, Samrat Gupta, Efpraxia D. Zamani, Neeraj Mittal and Renu Agarwal

Information Systems Frontiers

Over the recent years, responsiveness has gained importance as it is a critical element of public governance processes and acts as a driving factor for supporting the achievement of governance objectives, especially in the implementation phases. In this study, we identify the knowledge gaps in the realm of responsive governance based on a systematic literature review. Based on our analysis, we propose a conceptual framework of major building blocks (input, process and outcomes) for the development and implementation of responsive governance at the local, regional and national levels of administrative hierarchy.

Go to link
Read More

Journal Articles | 2023

Circular economy business models as pillars of sustainability: Where are we now, and where are we heading?

Maryam Hina, Chetna Chauhan, Rajat Sharma and Amandeep Dhir

Business Strategy and the Environment

The prior literature has discussed the benefits of the circular economy business model (CEBM) while working to streamline the environmental aspect, touching upon the social aspect and improving the economic aspect. These aspects have been widely recognised as pillars of sustainability. Thus, prior scholars have sought to identify the relationship between the CEBM and sustainability. However, the extant literature, which remains relatively nascent, has failed to clarify this linkage for each pillar of sustainability. To address this lacuna, we followed a systematic literature review (SLR) approach to determine the current state of research on the CEBM and sustainability. Our study identifies and presents the thematic foci in the prior literature, which highlight the linkages between the CEBM and the pillars of sustainability. These thematic foci include the CEBM and sustainability, the CEBM and the environmental dimension, the CEBM and the social dimension and the CEBM and the economic dimension. In addition, this SLR recognises various research gaps within each theme and offers actionable avenues for future research. We also propose a conceptual framework, rooted in social capital theory (SCT), that highlights the linkages between the CEBM and sustainability. Our findings reveal that research at the intersection of the CEBM and sustainability considers the CEBM an integral component of sustainability. We conclude by presenting our work's theoretical and practical implications, which can assist scholars and organisations to incorporate the pillars of sustainability within their CEBMs.

Go to link
Read More

Journal Articles | 2023

Belief Distortion near 52W high and low: evidence from Indian equity options Market

Sumit Saurav, Sobhesh Kumar Agarwalla and Jayanth R. Varma

Journal of futures markets

We examine investors' behavioral biases and preferences in the options marketnear 52‐week high and low (52W‐H/L) using Indian options market data. Wedocument that as the stock price approaches 52W high (low), the skewness ofrisk‐neutral  density  (RND),  and  out‐of‐the‐money  (OTM)  call  volumedecreases (increases), while OTM put volume increases (decreases). Aftercrossing the 52W high (low), the skewness of RND and OTM call volumeincreases (decreases), while OTM put volume decreases (increases). Theeffects are economically large and significant. Our findings provide evidenceconsistent with the anchoring theory of belief distortion near 52W‐H/L. Thereis no evidence of preference distortion, contrary to what prospect theorypredicts.

Go to link
Read More

Journal Articles | 2023

Does employee mobility network influence acquisition behavior? Evidence from the semiconductor industry

Mayank Varshney and Mohammad Fuad

Strategic Organization

This article examines the role of employee mobility network in influencing a firm’s merger and acquisition behavior. Specifically, we draw upon the social network perspective and theorize that a firm’s employee mobility network centrality positively influences the number of announced merger and acquisition deals in a hi-tech industry. However, the firm’s prior acquisition experience and absorptive capacity negatively moderate the relationship between the employee mobility network centrality and the number of announced merger and acquisition deals. Our findings based on a sample of US semiconductor firms in the period 1992–2010 provide robust support to our theorization.

Go to link
Read More

Journal Articles | 2023

Predicting sports fans’ engagement with culturally aligned social media content: A language expectancy perspective

Deep Prakash C. and Adrija Majumdar

Journal of Retailing and Consumer Services

There is limited research showing how strategically generated content can boost Twitter engagement. The problem is acute for sports clubs with large fan bases. We determine the ideal content generation strategy using Hofstede's Cultural Dimensions and Language Expectancy theory. This study examines whether culturally aligned tweets can improve fan engagement. Using tweets from a sports league, we demonstrate that culturally aligned features may be used to build machine learning and deep learning models that predict a tweet's engagement level. According to our research, culture-specific social media content that meet fans' language expectations can increase Twitter engagement.

Go to link
Read More

Journal Articles | 2023

Shining the spotlight on marketplace rituals: A review and research agenda

Arun Sreekumar, Robert Alfonso Arias, Cele C. Otnes and Linda Tuncay Zayer

Journal of Marketing Management

Although rituals are commonplace in marketer-consumer interactions, extant research devotes limited attention to how ‘marketplace actors’ or MAs (marketers and stakeholders enacting the roles of marketers) leverage these events in the marketplace. We scrutinise this gap by examining literature in the top 50 major marketing journals. We ask: What functions do marketplace rituals fulfil for MAs, as they leverage these rituals when shaping customer experiences? Our analysis finds MAs leverage rituals to support seven broad functional categories that pertain to customer experience: cognitive, cultural, emotive, logistical, relational, social, and transformative. We illuminate how MAs leverage these functions to meet specific goals. We propose an agenda for future research on marketplace rituals.

Go to link
Read More

Journal Articles | 2023

Doing Reputation in the Indian Context: An Employee Perspective

Avani Desai, Asha Kaul and Vidhi Chaudhri

International Journal of communication

Corporate reputation has been studied as an aggregate of stakeholder perceptions with some emphasis on distinguishing among the perceptions of different stakeholder groups. This study focuses on the perceptions of employees, a critical group of stakeholders, within the Indian context and examines factors that inform an understanding of reputation from an employee perspective and shares the consequences of the same. Building on existing research conducted in developed countries, the study reveals similarities and dissimilarities with existing reputation conceptualizations. Results reveal three new factors, namely stakeholder connect, customer centricity, and company ethos, which are critical to an understanding of reputation from the perspective of Indian employees. Based on factors and attributes emerging from employee perceptions, the study proposes the Loyalty, Engagement, Emotional Connect, and Commitment model, which highlights the consequences of a good reputation in the Indian context.

Go to link
Read More
IIMA