Reforms and entry:some evidence from the Indian manufacturing sector

Traditional research in the context of product market entry has explored the strategic reactions of incumbent firms when threatened by the possibility of entry, and have identified industry-specific factors that affect entry rates. However, following de Soto (1989), there has been increasing emphasis on regulatory and institutional factors governing entry rates, especially in the context of developing countries. Using three-digit industry-level data from India, for the 1984–97 period, we examine the phenomenon of entry in the Indian context. Our empirical results suggest that during the 1980s industry-level factors largely explained variations in entry rates, but that, following the economic federalism brought about by the post-1991 reforms, variations in entry rates during the 1990s were explained largely by state-level institutional and legacy factors. Past productivity growth affects net entry rates as well.

Does lending behaviour of banks in emerging economies vary by ownership? Evidence from the Indian banking sector

While much has been discussed about the relationship between ownership and financial performance of banks in emerging markets, literature about cross-ownership differences in credit market behaviour of banks in emerging economies is sparse. Using a portfolio choice model and bank-level data from India for 9 years (1995–96 to 2003–04), we examine banks’ behaviour in the context of credit markets of an emerging market economy. Our results indicate that, in India, the data for the domestic banks fit well the aforementioned portfolio-choice model, especially for private banks, but the model cannot explain the behaviour of foreign banks. In general, allocation of assets between risk-free government securities and risky credit is affected by past allocation patterns, stock exchange listing (for private banks), risk averseness of banks, regulations regarding treatment of NPA, and ability of banks to recover doubtful credit. It is also evident that banks deal with changing levels of systematic risk by altering the ratio of securitized to non-securitized credit.

Policy, economic federalism, and product market entry:the Indian experience

Productivity growth has long been associated with, among other things, contestability of markets which, in turn, is dependent on the ease with which potential competitors to the incumbent firms can enter the product market. There is a growing consensus that in emerging markets regulatory and institutional factors may have a greater influence on a firm's ability to enter a product market than strategic positions adopted by the incumbent firms. We examine this proposition in the context of India where the industrial policies of the 1980s and the 1990s are widely believed to be pro-incumbent and pro-competition, respectively, thereby providing the setting for a natural experiment with 1991 as the watershed year. In our analysis, we also take into consideration the possibility that the greater economic federalism associated with the reforms of the 1990s may have affected the distribution of industrial units across states after 1991. Our paper, which uses the experiences of the textiles and electrical machinery sectors during the two decades as the basis for the analysis, finds broad support for both these hypotheses.

How important is ownership in a market with a level playing field? The Indian banking sector revisited

Private ownership of firms is often argued to lead to better firm performance than public ownership. However, the theoretical literature and the empirical evidence indicate that agency problems may affect the performance of privately owned firms. At the same time, competition and hard budget constraints can induce state-owned firms to operate efficiently. In India, banking sector reforms and deregulation were initiated in 1992, encouraging entry and establishing a level playing field for all banks. Data for the financial years 1995–1996 through 2000–2001 suggest that, by 1999–2000, ownership was no longer a significant determinant of performance. Rather, competition induced public-sector banks to eliminate the performance gap that existed between them and both domestic and foreign private-sector banks.

Does ownership always matter? Evidence from the Indian banking industry

Existing empirical evidence on the ownership-performance issue is weighted towards the property rights hypothesis that private enterprises are superior to public enterprises. However, very few studies examine a developing country in which the strong link between the market for corporate control and the efficiency of private enterprises assumed by the property rights hypothesis may not be satisfied. Our study of the Indian banking industry confirms our expectation that, in the absence of well-functioning capital markets, there may not be significant differences in the performance of private and public enterprises. Our analysis highlights the importance of creating appropriate institutions prior to pursuing privatization in developing countries.

Organizational change and development:a case study in the Indian electricity market

Five principles for accommodating cultural nuances

Measurement of project management performance:a case study in the Indian oil industry

Eight steps for projectizing continuous improvement to deliver desired change

International Human Resource Management in the Indian context

Introduction to "India Special Issue". The last two decades have seen several critical developments, such as globalization; liberalization of economies around the world; the growing economic significance of emerging markets; and the ever increasing movement of people around the world. Ironically, there is an obvious dearth of IHRM research and related publications on emerging markets. This special issue is designed to partially fill this space.

A sustainable supply chain study of the Indian bioenergy sector

In India, more than one third of the population do not currently have access to modern energy services. Biomass to energy, known as bioenergy, has immense potential for addressing India’s energy poverty. Small scale decentralised bioenergy systems require low investment compared to other renewable technologies and have environmental and social benefits over fossil fuels. Though they have historically been promoted in India through favourable policies, many studies argue that the sector’s potential is underutilised due to sustainable supply chain barriers. Moreover, a significant research gap exists. This research addresses the gap by analysing the potential sustainable supply chain risks of decentralised small scale bioenergy projects. This was achieved through four research objectives, using various research methods along with multiple data collection techniques. Firstly, a conceptual framework was developed to identify and analyse these risks. The framework is founded on existing literature and gathered inputs from practitioners and experts. Following this, sustainability and supply chain issues within the sector were explored. Sustainability issues were collated into 27 objectives, and supply chain issues were categorised according to related processes. Finally, the framework was validated against an actual bioenergy development in Jodhpur, India. Applying the framework to the action research project had some significant impacts upon the project’s design. These include the development of water conservation arrangements, the insertion of auxiliary arrangements, measures to increase upstream supply chain resilience, and the development of a first aid action plan. More widely, the developed framework and identified issues will help practitioners to take necessary precautionary measures and address them quickly and cost effectively. The framework contributes to the bioenergy decision support system literature and the sustainable supply chain management field by incorporating risk analysis and introducing the concept of global and organisational sustainability in supply chains. The sustainability issues identified contribute to existing knowledge through the exploration of a small scale and developing country context. The analysis gives new insights into potential risks affecting the whole bioenergy supply chain.

Ecophysiological characteristics of Avicennia germinans and Laguncularia racemosa coexisting in a scrub mangrove forest at the Indian River Lagoon, Florida

The purpose of this work is to increase ecological understanding of Avicennia germinans L. and Laguncularia racemosa (L.) Gaertn. F. growing in hypersaline habitats with a seasonal climate. The area has a dry season (DS) with low temperature and vapour pressure deficit (vpd), and a wet season (WS) with high temperature and slightly higher vpd. Seasonal patterns in interstitial soil water salinity suggested a lack of tidal flushing in this area to remove salt along the soil profile. The soil solution sodium/potassium (Na+/K+) ratio differed slightly along the soil profile during the DS, but during the WS it was significantly higher at the soil surface. Diurnal changes in xylem osmolality between predawn (higher) and midday (lower) were observed in both species. However, A. germinans had higher xylem osmolality compared to L. racemosa. Xylem Na+/K+ suggested higher selectivity of K+ over Na+ in both species and seasons. The water relations parameters derived from pressure–volume P–V curves were relatively stable between seasons for each species. The range of water potentials (Ψ), measured in the field, was within estimated values for turgor maintenance from P–V curves. Thus the leaves of both species were osmotically adapted to maintain continued water uptake in this hypersaline mangrove environment.

Geochemical composition of nodules and crusts from the Indian Ocean recovered from R/V Marion Dufresne expeditions from 1977 until 1981

Following the launch of the "Marion Dufresne 1", first supply ship of the Terres Australes and Antarctiques Françaises and part time oceanographic vessel in the Indian Ocean, a new marine geology program was developped at the Laboratoire de Géologie, MNHN. The first oceanographic cruise of the "Marion Dufresne 1" started in 1973 in the Southwestern Indian Ocean (OSIRIS I cruise). Forty piston-cores recovered nearly 200 m of sediments consisting in the first of the 450 cores of the Indian Ocean collection now deposited at the Museum. L. Leclaire being Director from 1980 to 1991, a multidisciplinary team (including sedimentologists and micropaleontologists) was involved in many oceanographic cruises in the Indian Ocean. Marine sedimentology was developped during annual cruises programs in collaboration with geophysicists, geochemists, and biologists. In 1995, the "Marion Dufresne 2" replaced the initial "Marion Dufresne 1".