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3548 items in total found

Journal Articles | 2022

Section 29A of India’s Insolvency and Bankruptcy Code: An instance of hard cases making bad law?

M. P Ram Mohan and Vishakha Raj

Journal of Corporate Law Studies

The Insolvency and Bankruptcy Code (IBC) of India which offers a mode of reorganisation for distressed corporations prevents promoters and directors with non-performing assets from submitting plans to rescue their company. This provision is contained under section 29A of the IBC. Judicial interpretation has required corporate reorganisations under India's Companies Act to give effect to the limitations under section 29A as well. The introduction and application of section 29A is reflective of a broader scepticism towards allowing promoters and directors whose companies entered financial distress from regaining control. This article evaluates whether section 29A has addressed the problems it had set out to and finds that some ineligibilities prescribed for the incumbent management under section 29A can be relaxed. It also uses the example of the United Kingdom's insolvency regime (with which India bears similarities) to explain why resolution plans from the incumbent management should not be disallowed.

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Journal Articles | 2022

Does transportation network centrality determine housing price?

Sandip Chakrabarti, Triparnee Kushari, and Taraknath Mazumder

Journal of Transport Geography

In this paper, we investigate whether transportation network centrality determines housing price in cities. We find that it does. Using housing price data from >400 neighborhoods across the city of Kolkata, India, our research shows that a neighborhood's centrality within the intra-urban road transportation network is positively associated with the average price per sq. ft. of ownership units in multistory apartment buildings in the neighborhood. We test the relationships of three alternative centrality indices – closeness, betweenness, and eigenvector – capturing different dimensions of network-wide connectedness with housing price, independently and in combination. We employ two alternative network weights to derive centrality considering peak-period and off-peak travel conditions and road transportation network performance. We address the spatial autocorrelation issue to derive robust evidence on the centrality-price relationship. Our results suggest that centrality is an intrinsic location advantage that positively influences urban housing price. Different centrality indices have different effects on price but they collectively reinforce each other. The estimated magnitudes of association between centrality indices and housing price are significant for policy and practice. In addition to contributing to scholarship in the domain of transportation planning, our research offers specific takeaways for metropolitan planning agencies and real-estate developers, especially in resource constrained geographic contexts.

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Journal Articles | 2022

Damned if she does, damned if she doesn’t: The interactive effects of gender and agreeableness on performance evaluation

Amit K.Nandkeolyar, Jessica Bagger, and Srinivas Ekkirala

Journal of Business Research

The role congruity theory and research on gender stereotypes suggest that communion and agency tendencies explain gender discrimination in performance evaluations. We propose that high agreeableness, a Big Five personality trait, captures the communal dimension of an individual’s concern for others. Across two studies conducted in India and the United States, we found evidence that the relationship between agreeableness and performance evaluations is nonlinear for female employees. Women are rated as high performers when they exhibit moderate levels of agreeableness. For male employees, we find a communal bonus effect in which they benefit from being agreeable in the workplace. Our findings demonstrate the stability of these findings across Indian and North American cultures. Our findings contribute to the literature on role congruity, personality theories, and job performance.

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Journal Articles | 2022

Participation dynamics in multiple-peril agricultural insurance: Insights from India

Ranjan Kumar Ghosh, Vikram Patil, and Nikita Tank

International Journal of Disaster Risk Reduction

Multiple-peril agricultural insurance, although operational in many developing countries, evokes mixed responses among smallholder farmers. In this context, we analyse the farmer-specific characteristics that are most amenable for participation in India's revamped federal agricultural insurance program. A sequential logit model is applied to a primary survey-based dataset of 1332 farmers in order to examine the factors influencing various transitions across categories. Age, female as gender and previous insurance experiences turn out to positively influence participation. Engagement in non-farm occupation and higher access to irrigation reduce the likelihood of participation. In the event that the insurance product is delinked from state supported farm credit, the more educated farmers want to move out while female farmers prefer to stay. These results offer important policy insights amidst the persistent efforts to establish a self-sustaining market for agricultural insurance in developing countries.

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Journal Articles | 2022

A multinational carbon-credit market integrating distinct national carbon allowance strategies

Miguel F. Anjos, Felipe Feijoo, and Sriram Sankaranarayanan

Applied Energy

We study the potential role and advantages of a multinational carbon-credit (CC) market allowing a set of countries to procure CCs for their domestic producers. We study the interaction of such a market with renewable portfolio standards, specifically regarding whether a country’s government or its energy producers are responsible for upholding the renewable portfolio standards (RPS), and how this impacts total emissions and energy mix. Implementing uniform carbon tax policies or cross-border emission trading systems hinders individual countries’ autonomy while strictly segregated carbon markets suffer from the tragedy of the commons. We develop a model where countries can have their own policies to allocate the CCs, which may include taxes or subsidies depending upon the country’s choices. We use a special form of equilibrium programs with equilibrium constraints (EPEC) game – Nash Among Stackelberg Players (NASP) – and recent algorithmic advances to identify equilibria for these games to identify the effect of such a common CC market, and the regional governments’ individualized interests on the resulting energy production patterns and emissions. We observe that countries could retain their autonomy and have reasonable freedom to set national policy by acting as intermediaries between the CC market and the producers. We carry out a case study using historical data and projections of energy production for the US and Canada, and observe the varying effects of such a common CC market on government policy and the behavior of energy producers. Establishing a common CC market could significantly reduce global emissions without infringing on national autonomy. Such a market helps governments to motivate producers to uphold renewable standards because if the producers do not voluntarily reduce emissions, then the government could enforce the obligation through its national policies, generally leading to a revenue loss for producers.

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Journal Articles | 2022

Retaining the nonprofit mission: The case of social enterprise emergence in India from a traditional nonprofit

K V Gopakumar

Entrepreneurship & Regional Development

Literature examining the emergence of social enterprises from traditional non-profits has noted a shift in organizational mission, from a predominantly social mission towards a dual focus on both social and commercial goals. Less is known about how such social enterprises, which transition from traditional non-profits, retain the original non-profit social mission. The present study, employing an institutional logics perspective, identifies how a social enterprise, emerging from a traditional non-profit in India, re-conceptualized its means in diverse ways towards a common social end, preserved its core guiding principles and processes, and maintained a broad organizational vision, to seamlessly retain and continue with the original social mission. The study concludes with implications for social enterprise and institutional logics research.

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Journal Articles | 2022

Outcomes of talent identification in economically liberalized India: Does organizational justice matter?

Elaine Farndale, Promila Agarwal, and Pawan Budhwar

Journal of Business Research

Organizations in economically liberalized India face substantial challenges regarding the engagement and turnover of talent. By exploring the outcomes of the firm-level management practice of talent identification, we uncover the effects of identifying valuable employees as high potential. Adopting an organizational justice lens, we consider the social exchange consequences of talent identification for those identified either as high potential or non-high potential, examining how perceived organizational justice moderates the relationship with employee engagement/turnover intention. Based on data from 331 employees in two large organizations in India, perceptions of distributive, procedural, and interactional justice in this highly competitive labor market are found to moderate the relationship between talent identification and work engagement, while distributive justice moderates the relationship with employee turnover intention. The study identifies novel conditions under which talent identification might avoid the negative outcomes associated with an exclusive approach to talent management, commonly adopted in Indian organizations.

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Journal Articles | 2022

Impact of operational fragility on stock returns: Lessons from COVID‐19 crisis

Avijit Bansal, Balagopal Gopalakrishnan, Joshy Jacob, and Pranjal Srivastava

International Review of Finance

We examine how the market valuation of firms varies on account of their operational fragility that makes them vulnerable to the COVID-19 pandemic. Using the data on plant location that uniquely identifies the vulnerability of firms to operational disruptions, we find that firms with plants located in zones susceptible to higher infections earn significantly lower returns. For firms with high operational fragility, the marginal value of financial flexibility and operating flexibility is higher. The adverse impact of the operational fragility is lower for firms affiliated with the larger business groups. The paper identifies unique channels associated with the pandemic that impact firm value.

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Journal Articles | 2022

A cultural impostor? Native American experiences of impostor phenomenon in STEM

Devasmita Chakraverty

CBE- Life Sciences Education

Using a framework of colonization in science, technology, engineering, and mathematics (STEM), this U.S.-based study examined how seven Native American PhD students/postdoctoral scholars experienced impostor phenomenon. Participants were identified/contacted at a national conference on minorities in STEM through purposeful sampling. Surveys computed impostor phenomenon scores on a validated scale, while interviews documented how identity and culture contributed to impostor phenomenon in academia. Using a phenomenological approach, interviews were analyzed inductively using a constant comparative method. Surveys scores indicated high to intense impostor phenomenon. Interviews with the same participants further identified the following aspects of impostor phenomenon in relation to their minoritized identity: cultural differences and lack of understanding of Indigenous culture, lack of critical mass and fear of standing out, academic environment, family background and upbringing, and looks and diversity status. Developing a diverse and culturally competent STEM workforce requires a deeper understanding of what deters Native American individuals from pursuing a STEM career. They have the lowest college enrollment and retention rates compared with any race in the United States and could be vulnerable to racial bias and discrimination. Understanding impostor phenomenon through culturally relevant experiences would be crucial to broaden participation in STEM careers.

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Journal Articles | 2022

Reshaping adolescents’ gender attitudes: Evidence from a school-based experiment in India

Diva Dhar, Tarun Jain, and Seema Jayachandran

American Economic Review

This paper evaluates an intervention in India that engaged adolescent girls and boys in classroom discussions about gender equality for two years, aiming to reduce their support for societal norms that restrict women's and girls' opportunities. Using a randomized controlled trial, we find that the program made attitudes more supportive of gender equality by 0.18 standard deviations, or, equivalently, converted 16 percent of regressive attitudes. When we resurveyed study participants two years after the intervention had ended, the effects had persisted. The program also led to more gender-equal self-reported behavior, and we find weak evidence that it affected two revealed-preference measures.

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