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3899 items in total found

Journal Articles | 2026

The informativeness of consolidated and parent-only earnings to investors: Evidence from India

Sudhakar V. Balachandran, Sudershan Kuntluru, Hariom Manchiraju, Sumeet Rajput

We examine whether earnings from parent-only financial statements are incrementally informative to those from consolidated financial statements. We use a unique mandate in India that requires firms to provide both consolidated and parent-level financial statements, since currently neither US GAAP nor IFRS mandates this level of disaggregation. While disaggregation provides additional information, it also imposes costs, raising the empirical question of whether its benefits outweigh the costs. Our analyses reveal that disaggregated quarterly earnings components inform investors, with investors placing more weight on parent-level unexpected earnings than on subsidiaries' unexpected earnings. We do not find evidence of mispricing associated with disaggregation; rather, the higher weight on the parent's earnings reflects higher persistence, consistent with semi-strong market efficiency. Moreover, parent earnings provide incremental informativeness, especially in the context of poor earnings quality and high mergers and acquisitions intensity. Our results endure when we examine annual parent- and subsidiary-level earnings, where available, in 98 countries around the world. Our results contribute to the literature on disaggregation in accounting and earnings informativeness in equity markets, offering insights that may influence regulatory considerations on the usefulness of financial statement disaggregation.

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Contract Terms in International Business: Principles and Applications

Books | 2025

Contract Terms in International Business: Principles and Applications

Akhileshwar Pathak

From Labs to Jabs: How agility, ability and adaptability led to success of India's COVID-19 vaccination program

Books | 2025

From Labs to Jabs: How agility, ability and adaptability led to success of India's COVID-19 vaccination program

Rajesh Chandwani Vinita Sindhwani Satija Ranjan Kumar Ghosh

The Power of Gold: The Indian Economy, Trade and Finance

Books | 2025

The Power of Gold: The Indian Economy, Trade and Finance

Sundaravalli Narayanaswami

Human Resource Management: An Indian adaptation (15th ed.). Wiley

Books | 2025

Human Resource Management: An Indian adaptation (15th ed.). Wiley

Susan L. Verhulst David A. DeCenzo Promila Agarwal

Directional and Multivariate Statistics

Books | 2025

Directional and Multivariate Statistics

Somesh Kumar Barry C. Arnold Kunio Shimizu A K Laha

Journal Articles | 2025

Role of foreign market knowledge and home country institutions in international entrepreneurship-performance relationship: A meta-analysis

Sai Chittaranjan Kalubandi, Dibyendu Sharma, Saneesh Edacherian, Amit Karna

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Journal Articles | 2025

Understanding How Healthcare Access is Enriched Through Telemedicine: Taking an Affordance Actualization Perspective

Rajesh Chandwani Rahul De’ Yogesh K. Dwivedi

This paper examines a telemedicine system connecting a super-specialty tertiary care hospital in northern India to rural areas in Eastern India. Using the affordances actualization lens, we elaborate and describe how telemedicine enriches access to healthcare. With a qualitative study conducted with stakeholders involved in the telemedicine program, we show that access is enriched by actualization of four affordances - consultability, cognizability, socializability, and mentorability. We contribute to the affordance literature in two ways. First, we present a method to identify actualization of affordances in a complex interaction as diverse actors interact with technology. While most of the affordance literature focuses on the interaction of a goal-directed actor with the technology, telemedicine systems are opportune in understanding how diverse actors actualize the affordances. Second, we illustrate a nuanced understanding of technology as a situated action where multiple and diverse actors interact with technology and amongst themselves. Specifically, we highlight that access not only depends upon the affordance envisaged in the technology design (consultability and mentorability) but also the configuration of technology, actors and processes as it is implemented (cognizability, socializability). These affordances are related to the contextual embeddedness of the technology, specifically in the public health organization in rural India.

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Journal Articles | 2025

Investor networks and fund performance in private equity real estate funds

"Bobby Yu, Peng Liu, Prashant Das"

Is the formation of investor networks associated with superior fund performance? Our analysis of more than 2,000 private equity real estate (PERE) funds over three decades reveals abnormal performance among PERE funds dominated by institutional investor cliques. Specifically, investor cliques with a more extensive history of joint investment are associated with superior fund performance that is not explained by common fund characteristics. Such correlation is not predicted by a simple Bayesian update without access to private information, implying that investor networks may be a channel through which limited partners identify and access better-performing fund managers. We also provide evidence that Limited Partner (LP) networks are not a mere result of rational herding by showing that the clique-level Herfindahl–Hirschman Index for investor AUM does not positively predict greater abnormal return. We further observe that investor cliques prolong the time needed to reach maximal commitment. As General Partners (GP) are known to utilize a subscription line of credit to borrow against committed capital to boost return, we infer more financing discretion granted to GPs by cliques.

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Journal Articles | 2025

Picking the best bot: Collaboration strategies for humans and bots in order pick systems with traveling salesman problem routing

"Mahdi Ghorashi Khalilabadi, Debjit Roy, René de Koster"

The rapid growth of e-commerce has increased the demand for efficient order picking systems in large warehouses. To improve throughput performance, many facilities deploy autonomous mobile robots (AMRs) to assist human pickers. Warehouse throughput critically depends on the choice of human-robot collaboration policy. This study focuses on two popular policies: the swarm policy, in which pickers switch between AMRs while picking, and the system-directed policy, in which a picker completes an order with a single AMR. An analytical framework is developed to evaluate these policies. We model the swarm policy as a closed queuing network with a synchronization station, and we derive closed-form expressions for its steady-state probabilities and throughput given load-dependent service rates. The service rates of the network nodes are estimated by Monte Carlo simulation, accounting for stochastic travel times, varying order sizes, item allocation strategies, matching rules, and warehouse layouts. The analytical predictions are validated against detailed discrete-event simulations, with average relative errors below 2% in 12,000 instances. The results indicate that the swarm policy generally provides higher throughput than the system-directed policy, with gains increasing in the AMR-to-picker count and speed ratios. The system-directed policy is more effective when AMR and picker speeds are similar, the orders are large, and there is a limited number of AMRs. Managerial insights are provided to guide policy choice.

Funding: This research is part of the Sharehouse Project, which was cofinanced and supported by the Dutch Research Council NWO, the Dutch Ministry of I&W, the Taskforce for Applied Research SIA, the Dutch Topsector Logistics, and TKI Dinalog [Project 439.18.452].

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