An empirical investigation of hybrid corporate governance systems in large firms : evidence from India

The heightened pace of corporate governance reforms has focussed attention on countryspecific governance models. In relation to India, scholars have observed that a hybrid of the outsider Anglo-Saxon system and the insider Continental system is likely. This paper reports
the results of a study that investigated the corporate governance system of five large firms in 2008. It presents evidence based on publicly available documents and twelve key executive interviews. The paper initially presents a literature review and establishes six propositions
based on the distinguishing features of the two major systems, and then presents the methodology, findings and discussion. The governance characteristics of the Indian firms are classified in terms of the two systems with a view to assessing the extent and nature of hybridization. The findings endorse the hybrid corporate governance system in India.
However, the scope of this study was limited to large listed companies and business groups. Future research should use a larger and more diverse sample including private and unaffiliated firms for outcomes that can be generalized.

Customer-product interaction : a model for new product development in entrepreneurial firms

Use of New Product Development (NPD) methods may benefit New Zealand SMEs and entrepreneurial firms in gaining greater market share. In this paper we review the literature on New Product Development, NPD theory and methods for early stage product design and development. Our reading suggests that product design has greater success when the customer is involved in the design effort. It also recommends methods of approach to new markets in the (NPD) life cycle. The literature further elucidates methods for identification of product design criteria based on customer needs identification. In essence, customer-product interaction in the early stages of product development is important to product success in new markets for entrepreneurial firms and SMEs. Of particular interest are early-stage NPD research methods and their influence on the company’s marketing strategy.

New insights into protein export in malaria parasites

In order to survive and promote its virulence the malaria parasite must export hundreds of its proteins beyond an encasing vacuole and membrane into the host red blood cell. In the last few years, several major advances have been made that have significantly contributed to our understanding of this export process. These include: (i) the identification of sequences that direct protein export (a signal sequence and a motif termed PEXEL), which have allowed predictions of the exportomes of Plasmodium species that are the cause of malaria, (ii) the recognition that the fate of proteins destined for export is already decided within the parasite's endoplasmic reticulum and involves the PEXEL motif being recognized and cleaved by the aspartic protease plasmepsin V and (iii) the discovery of the Plasmodium translocon of exported proteins (PTEX) that is responsible for the passage of proteins across the vacuolar membrane. We review protein export in Plasmodium and these latest developments in the field that have now provided a new platform from which trafficking of malaria proteins can be dissected.

Protein export in Plasmodium parasites : from the endoplasmic reticulum to the vacuolar export machine

It is somewhat paradoxical that the malaria parasite’s survival strategy involves spending almost all of its blood-stage existence residing behind a two-membrane barrier in a host red blood cell, yet giving considerable attention to exporting parasite-encoded proteins back across these membranes. These exported proteins are thought to play diverse roles and are crucial in pathogenic processes, such as re-modelling of the erythrocyte cytoskeleton and mediating the export of a major virulence protein known as Plasmodium falciparum erythrocyte membrane protein 1 (PfEMP1), and in metabolic processes such as nutrient uptake and solute exchange. Despite these varied roles most exported proteins have at least one common link; they share a trafficking pathway that begins with entry into the endoplasmic reticulum and concludes with passage across the vacuole membrane via a proteinaceous translocon known as the Plasmodium translocon of exported proteins (PTEX). In this commentary we review recent advances in our understanding of this export pathway and suggest several models by which different aspects of the process may be interconnected.

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.

An empirical investigation of hybrid corporate governance systems in large firms: Evidence from India

The heightened pace of corporate governance reforms has focused attention on country-specific
governance models. Considerable debate has ensured as to whether the outsider Anglo-Saxon system
or the insider Continental system is most applicable to India. This paper reports the results of a study
of Indian governance which used a primary qualitative approach of twelve interviews of key executives
of five large firms in 2008 as well as publicly available documents. A literature review establishes six
key characteristics that distinguish the two major systems. The governance characteristics of the
Indian firms are classified in terms of the two systems with a view to assessing the extent and nature of
hybridization. The findings endorse the hybrid corporate governance system of India, clearly
identifying similarities and differences to the two major governance models. In drawing on rich
interview data, the paper delves into the national characteristics of India that have influenced the
hybrid model such as stewardship, corporate social responsibility and partnerships between the
corporate and community sectors. The evolution of the governance practices and the rationale for their
existence are also examined. The paper demonstrates that the hybrid governance system has emanated
from country-specific culture including values and ideologies, and political orientation of socialism.
The scope of this study was limited to large listed companies and business groups. Future research
should use a larger and more diverse sample including private and unaffiliated firms for outcomes that
can be generalized.

Pulse-lavage brushing followed by hydrogen peroxide-gauze packing for bone-bed preparation in cemented total hip arthroplasty : a bovine model

To compare the effectiveness of pulse-lavage brushing followed by hydrogen peroxide-gauze packing with either technique alone or normal-saline irrigation in bone-bed preparation for cemented total hip arthroplasty. 44 fresh-frozen ox femoral canals were prepared for cemented total hip arthroplasty using 4 techniques: normal-saline irrigation, pulse-lavage brushing, hydrogen peroxide-soaked gauze packing, and a combination of the latter 2 techniques. The maximum tensile pull-out force required to separate the prosthesis from the femoral canal was measured as an indicator of the strength of the cement-bone interface. The mean pull-out force to separate the prosthesis from the femoral canal was significantly higher in specimens prepared with pulse-lavage brushing followed by hydrogen peroxide-soaked gauze packing or pulse-lavage brushing alone than those prepared with normal-saline irrigation or hydrogen peroxide-soaked gauze packing alone 300(p<0.001). Pulse-lavage brushing is more effective at cleansing the femoral canal and increasing mechanical strength at the cement-bone interface than preparation with normal-saline irrigation or hydrogen peroxide-soaked gauze packing.

Estimating import and export demand elasticities for Mauritius and South Africa

In this paper, we re-estimate the import and the export demand functions for Mauritius and South Africa using time series data. We use the bounds tests for cointegration and find evidence of a long-run relationship between import demand, income and prices for both countries. Our long run elasticities reveal that domestic income and relative prices have significant effects on the import demand for both countries, with income being the most important determinant. Furthermore, we find that while South Africa’s export demand is not responsive to relative prices or income; for Mauritius income is statistically significant.

Are Chinese firms innovative or imitative?

In recent time, many Chinese firms have not only operated quite successfully at their home front, competing with those giant multinational companies inside China, they are also moving offshore. The short internationalisation process of Chinese firms looks both sudden and unexpected, causing many to wonder the success factors for Chinese firms. A dynamic innovation that combines strategic, organisational, cost as well as technological change was believed to have contributed to the fast growing Chinese firms in the global stage. This paper reviews the literature related to these areas of innovation. It also discusses reasons for firms to innovate or imitate, using institutional perspective and resource-based view (RBV). Intertwined with these discuss ion, empirical studies of innovative performance among Chinese firms are also analysed. The results show that in fact most Chinese firms still follow an imitative strategy, but there is a clear evidence of strategic cost innovation widely practiced among Chinese firms.

Keeping talents for advancing service firms in Asia

Purpose – Skill shortages worldwide have intensified the need for talent management. Few papers examine the pattern of human resource (HR) and talent management practices that help retain competent employees among service multinational companies (MNCs) in Asia. The purpose of this paper is to map out a number of HR practices used by service companies and to examine the effect of talent retention as perceived by MNC managers on service delivery capacity and business growth.

Design/methodology/approach – A survey data of 281 service MNCs in six Asian countries (namely Indonesia, Malaysia, Philippines, Singapore, Taiwan, and Thailand) are used to compare country and sectoral differences. Standard multiple regression analysis is conducted to test the link between HR practices, employee retention, and service firm performance.

Findings – The results confirm that there are statistically significant linkages between HR practices, talent retention and firm performance. In particular, various skill training and development programs are seen to be significantly associated with capacity to deliver quality service and on firm growth as perceived by managers surveyed. Informal recruitment methods that are used more by Asian-bred firms have contributed to better retention rates. Not all formalised HR practices lead to talent retention; and the degree to which HR is perceived to have impacted on firm performance varies.

Research limitations/implications – The paper focuses on examining the perceptual impacts of human resource management (HRM) practices on firm performance, rather than actual HRM impacts. The interpretation of results should be taken with caution.

Originality/value – Talent management is influenced by country specific variables. This paper shows how important it is for service firms to focus on strategic selection of both formal and informal HR practices in order to deliver high quality service and to drive service firm growth.

The development of a theoretical model for firm design management to support internationalisation processes

The aim of this research was to investigate strategies deployed by successful construction design related firms towards achieving high levels of firm competitiveness in international markets. A reflexive capability model, developed through a critical analysis of related internationalisation literature, is composed of three key areas; internationalisation process, market knowledge and design management. Firm reflexive capability is explored through the management of social, cultural and intellectual capital. The concept of reflexivity is borrowed from sociology the philosophers, Bourdieu and Giddens. Reflexivity is reinterpreted as the ‘firm’s’ ability to be aware, responsive and adaptable to self, market and project needs assessment. This research is part of an ongoing program of research on international collaborative practice. A Reflexive Capability Matrix is proposed. The reflexive capability approach is appropriate to all firms but what is speculated upon is that the reflexive capability is particularly applicable to small to medium sized construction design firms who work globally. A reflexive capability is a characteristic of successful and innovative firms internationalising and working within global models of practice. This paper is the theoretical development to support the paper in this congress “Design Management Methodology to Strengthen Firm and Industry Competitiveness in the Construction Design Services Export sector” where the methodology and results of a cross case analysis of three construction design firms are presented.