Family generation, leadership and performance : the role of outside directors in Indian family firms

This paper addresses the presence of outside directors in family firms in India examining the generation of the firm and years of operation. Aspects of corporate leadership such as family member as CEO, as well as the CEO's role in a founding family firm, are considered in relation to financial performance. The findings show that outside directors do not significantly increase firm performance of family firms demonstrating their ineffective monitoring role. Contrary to studies from developed economies, more established family businesses in India outperform founding firms. Overall the study demonstrates that corporate governance issues related to Indian family firms differ from the findings from more developed economies. This finding has implications for further governance reforms in emerging economies.

Modelling dimensionality of cultural experience attitudes for international tourists

This empirical research of tourists’ cultural experiences aims to advance theory by developing a measurement model of attitudes towards attending cultural experiences for a sample of international tourists visiting Melbourne, Australia. Exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) were used to cross-validate the underlying dimensionality structure of cultural experience attitudes in the model. A five-factor model was extracted from the EFA and some further modifications were required to establish discriminant validity. A four-factor model was retained in the CFA, which included three factors based on a liking for different types of cultural experiences and one factor indicating that social interaction was the most liked socio-psychological attitude towards attending cultural experiences. Although the sample were all English-speaking international tourists, cross-cultural validation of the model was also examined for factor configural and metric invariance of the measurement model as there were three different groups of international tourists within the sample: North Americans; New Zealanders; and tourists from United Kingdom and Ireland. This measurement structure was found to be relatively invariant for the factor loadings across the three groups of international tourists.

Understanding tourists' cultural experiences : benefits and satisfaction at the Queen Victoria Market, Melbourne

This empirical research of tourists’ cultural experiences aims to advance theory by analysing consumers’ benefits (sought and gained) and inferred satisfaction with the Queen Victoria Market. Produce markets are under-researched cultural attractions, despite their popularity with tourists. The current exploratory study found dimensions of importance to tourists’ cultural experience benefits (sought and gained) included socio-psychological, hedonic benefits and attribute specific, utilitarian benefits. It further found that tourists were most satisfied with the hedonic benefits, and least satisfied with the services, signs and written information. This study concludes that researching both types of benefits (sought and gained) and both types of dimensions (psychologically-based and attribute-based) increases understanding of tourists’ cultural experiences.

How dynamic capabilities drive performance in the Indian IT industry : the role of information and co-ordination

This study examines key issues and effects of capability management on a fast-growing area of knowledge-intensive global business services – IT outsourcing and offshoring. An exploratory study is undertaken of Indian companies providing complex process-oriented offshore IT services to their global customers. The analysis of the data related to the service provider side shows that developing dynamic capabilities is strongly driven by management and top-clients and results in the development of business processes and in establishing a strategic partnership with the client organization. Key findings are that information exchange and coordination are the key to a leveraging firm performance.

The productivity-wage and productivity-employment nexus : a panel data analysis of Indian manufacturing

This article investigates the long-run relationship between labour productivity and employment, and between labour productivity and real wages in the case of the Indian manufacturing sector. The panel data set consists of 17 two-digit manufacturing industries for the period 1973–1974 to 1999–2001. We find that productivity-wages and productivity-employment are panel cointegrated for all industries. We find that both employment and real wages exert a positive effect on labour productivity. We argue that flexible labour market has a significant influence on manufacturing productivity, employment and real wages in the case of Indian manufacturing.

Optimal hedge ration with moving least squares - an empirical study using Indian single stock futures data

The use of commodity, currency and stock index futures to hedge risky exposures in the underlying assets is well documented in financial literature. However single stock futures are a relatively new addition to the family of futures and as such, academic research on its use as a hedging tool is relatively thin. In this study we have explored the efficacy of two different methodological approaches that may be applied when hedging a long position in the underlying stock with a single stock future. We use daily trading data covering years 2002 to 2007 from the Indian market, where single stock futures have been really thriving in terms of volume of trade, to extract the optimal hedge ratios using both static OLS as well as 30-day, 60-day and 90-day moving least squares. The method of moving least squares has been in use by market practitioners for some time primarily as a trend analysis and charting tool. Our results indicate that the moving least squares approach outperforms the static OLS in terms of the hedging efficiency, which has been measured by the root mean square hedging error.

Hegel’s spectre on Indian thought and its God-in-nothingness

This review discusses Arvind-Pal S. Mandair’s Religion and the Specter of the West: Sikhism, India, Postcoloniality, and the Politics of Translation (hereafter RSW), published in 2009 by Columbia University Press.

The changing landscape of international business : From the Baltic Sea to the Indian Ocean

The article reviews the book "Foreign Direct Investment in Europe: A Changing Landscape," edited by Klaus Liebscher, Josef Christl, Peter Mooslechner, and Doris Ritzberger-Grünwald, and "International Business Marketing in Emerging Country Markets: The Third Wave of Internationalization of Firms," by Hans Jansson.