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Working Papers | 1998

Reducing a Multi Stage Vector Optimization Problem to a Single Stage Vector Optimization Problem

Lahiri Somdeb

In this paper we study the problem of universally reducing a multistage vector optimization problem to a one-stage vector optimization problem. This paper draws heavily and modifies on results obtained in Aixerman and Malishevski [1986]. Given the importance of such problems as mathematical representations of real world phenomena, particularly in economics and the management sciences, the results reported here hae great interest. Our analysis is restricted to the case of finite sets of alternatives, and thus has independent appeal from the stand point of finite/discrete mathematics as well.

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Working Papers | 1998

Design of Greenhouse Irrigation System at Bhujodi

Pilare Vasant R and Girja Sharan

Kutch is extremely arid, hot and short in agricultural quality ground water. Greenhouse is expected to reduce water requirement in such conditions. It is for this reason that this approach is being followed. In the write-up we present the design of irrigation system for greenhouses.

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Working Papers | 1998

Mergers and Acquisitions in Thailand: Case Studies of Two Thai Companies

Nyo Nyo Aung Kyaw and Pandey I M

Countries in both developed and developing regions are placing more importance on the role of Mergers and Acquisitions (M&A) in the growth of companies, and thereby to the economic development of their countries. M&A activities are becoming popular in many Asian countries. In Thailand as well the companies want to grow fast and become competitive through M&As. This study finds out the important motives that lead to M&As in Thailand. Analysing the experiences of two Thai companies, this study investigates the process of acquisition and the factors contributing to the success and failure of mergers in Thailand.

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Working Papers | 1998

Is the Taiwan Stock Market Efficient

Chen Chao-Fu, Pandey I M, and Gupta Jyoti  Â

The main objective of the Taiwan Government in reforming the Taiwan Stock Exchange (TSE) has been to establish Taiwan as an Asia-Pacific financial centre. The liberalisation and internationalisation of TSE is expected to make it informationally efficient. Theoretically, the technical analysis should lose its effectiveness if a market is efficient. This study, using the serial correlation test, the run test and the normality test and simulation on mechanical rules that adopted stochastic and moving average convergence and divergence, examines the efficiency of the TSE in the period after financial deregulation and liberalisation.

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Working Papers | 1998

Retail Investors and Mutual Funds: A Case for Assured Return

Gupta Ramesh

This paper presents a case for assured return in mutual fund industry. The retail investor is willing to take the market risk but would like to limit their losses due to intermediation risk which arises because of poor institutional accountability and lack of complete faith in the integrity of people managing their funds. This risk which is almost non-existent in the developed countries is very high in India. Assured returns promised in the past must be honoured. Failure of equity markets cannot be an excuse. Fund managers were paid astronomical pay packages for their abilities to plan right debt: equity investment mix and select promising scrips in the portfolios managed by them. Nothing in the offer documents restricted managers' freedom to manage funds and the investors did not interfere in their functioning. Investors were assured of minimum returns in the offer document and that's why probably they invested their precious savings. Now SEBI's role should be limited to see that contractual obligations are fulfilled. If SEBI has to get involved in product design and its pricing, then why was CCI abolished? Market based regulatory system requires that industry evolves its own mechanism to design and market the right product.

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Working Papers | 1998

Paradigm of Sustainable Development Programme in India

Moulik T K and Mathur D P

There has been a great deal of concern all the world over about sustainable development. However, unlike the developed industrialized countries with high standard of living, the sustainability debate in countries like India been consistently fraught with difficult operational issued because of the nature of its internal situations and external linkages. Widespread poverty is the endemic socio-economic problem of India. As a consequence, in the Indian context, the critical operational parameter for defining sustainability is the intra-generational aspect rather inter-generational issues. The paper reviews the conceptional and difinitional issues of 'sustainability' in the Indian context. Further, an attempt is made to examine the strategic implication in implementing sustainable development programmes in some important sectors of activities such as, land, water, energy and forests. While identifying some broad strategic parameters for implementation of the alternative approach towards sustainable development, the paper examines the issues of people's participation, affordable technologies, promotion of all the sectoral activities and the role-play of non-governmental organisations (NGOs).

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Working Papers | 1998

Brand Specific Associations and Consumer Involvement in the Evaluation of Brand Extensions

Bibek Banerjee, Abraham Koshy, and Ganapathy Shobha

Research in the area of brand extensions has focused on the themes of simple affect transfer and category based affect transfer to explain attitude towards the extension. Subsequent research stresses the importance of brand-specific associations in explaining attitude and shows that brand-specific associations moderate the effect of brand affect and category similarity in the evaluation of an extension. This study examines the moderating role of brand-specific associations on brand affect in the evaluation of an extension under conditions of high and low consumer involvement in the extension category. We find that brand affect remains an important variable in explaining attitude towards the extension even in the presence of relevant brand-specific associations in the extension. We find that involvement does not have a direct effect on the attitude towards the extension. However, it moderates the effect of brand specific associations on brand affect in the evaluation of the extension. High involved consumers in the extension category rely on the main effects of brand affect and relevance of association to form their attitude towards the extension, while the low involved consumers perceive the interaction between brand affect and relevance of association in forming their attitude. Thus, contrary to literature on involvement, results show that the process of evaluation of extensions is not different for low involved and high involved consumers. But consumers' method of processing available information is different for varying levels of involvement.

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Working Papers | 1998

Financial Crisis in East Asia: A Macroeonomic Perspective

Dholakia Bakul H

The second half of 1997 witnessed a major financial crisis in several East Asian countries charcterised by massive depreciation of their currencies and crash in the stock markets. The crisis occurred despite fairly impressive economic performance and prudent fiscal policies pursued by East Asian countries and came as a rude shock for many involved in international finance, multilateral institutions, policy-making and academics. An attempt has been made in this paper to provide a macroeconomic perspective on the East Asian crisis by analysing its background, underlying causes, its impact on the affected countries and its implications for Indian economy. The macroeconomic analysis presented in the paper is based on the experience of four countries, viz., Thailand, Indonesia, Malaysia and South Korea, where the severity of the crisis has been quite high.

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Working Papers | 1998

Technology Strategy of Indian Firms Searching for the Role of Complementary Assets and Technology Supply Chains

Pankaj Chandra and Rakesh Basant

As a consequence of economic reforms, the Indian manufacturing sector faces a variety of technology related challenges. It not only has to quickly develop world-class manufacturing capabilities but also gear up to develop new products and process. In this paper we analyse the technology strategies of six Indian firms in different products groups which are trying to build competitive manufacturing & technology capabilities. The linkages between corporate, technology, and manufacturing strategies are explored and the role of complementary assets is studies in order to identify patterns through which these firms are building capabilities of various kinds. Specifically, we evaluate the extent to which firms use supply chains to develop product & process technologies.

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Working Papers | 1998

Need and Challenges of Management Education in Primary Health Care System in India

Dileep Mavalankar

Primary Health Care System in India is very large and covers almost all the parts of the country. It has more than 20,000 PHCs and 140,000 Sub-centres spread in more than 400 districts. This system consumes large amount of resources and is the system which provides the services for primary care including preventive programmes. The system is mainly managed by doctors, some of whom have brief public health training. This paper argues that given the lack of training of doctors in management it is imperative that the doctors who are put in charge of the PHC system receive reasonable skills and training in management so that the resources spent on the PHC system can be utilised well – in an efficient and effective manner. Unfortunately the experience so far has been that there is hardly any systematic effort on adequate scale to meet the training needs of the PHC system for management training. The efforts done so far, even under the internationally supported projects are too less and of poor quality. It is also observed that most management training is very divorced from the day-to-day realities of the working of the PHC system and the kind of challenges they face. Finally the paper argues that substantial efforts will be needed to be put in preparing doctors for the management posts in the PHC system. This will require large investments in training and linking training to practice in the field. The paper also reviews available documents of the newer projects in health to see if there are indications that such a training will happen in future. The paper argues that there is a need for developing a separate health management cadre in India who will be trained in public health and health management to take up leadership role in PHC system in future.

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