Purpose: The turbulent times created by the recent uncertain events give only two solutions – either surrender or fight-out. It has been the story so far for the MSMEs in India. Three events that changed the business scenario include the implementation of demonetization & GST and the pandemic-related restrictions. Survival became the only viable factor for businesses. This study dwells deeper into these three events and their influence on the adoption of digitalization by MSMEs in rural India. Methodology: Responses of the rural MSME owners were collected through a structured questionnaire containing multiple-choice questions on a 5-point Likert scale. To have better clarity, responses of 274 rural MSME owners were finally considered for the data analysis. For factor analysis of the data, the process of Principal Component Analysis (PCA) was adopted with the help of IBM SPSS 25.0. To find out the validity of the model, Structural Equation Modelling (SEM) was performed by using IBM AMOS 21.0. Findings: It is found that the pandemic effect has the strongest significance followed by the demonetization effect on MSME owners towards the adoption of digitalization for their business. GST was implemented within a year of demonetization, so its effect is found to be non-significant. Practical Implications: The results of the study will help the government as well as IT solution providers to chalk out their strategies, products, or reforms taking into consideration the particular problems faced by MSMEs related to demonetization and pandemic closure. The outcome will also help in better implementation of the ‘Vocal for Local’ initiative. Originality: The results of the proposed study indicate that during all the three major events, the importance of digitalization has been witnessed by the MSMEs. These uncertain times have prioritized the use of digitalization not only for their survival but also to match the consumers’ demands during those periods. This study shows the importance of digitalization and will help the cup to reach the lip and both the economy and the MSME owners will be benefitted from it.
{"title":"Effects of Demonetization, GST & Covid-19 Pandemic in the Adoption of Digitalization by Rural MSMEs in India","authors":"Shafique Ahmed, S. Sur","doi":"10.53908/nmmr.290302","DOIUrl":"https://doi.org/10.53908/nmmr.290302","url":null,"abstract":"Purpose: The turbulent times created by the recent uncertain events give only two solutions – either surrender or fight-out. It has been the story so far for the MSMEs in India. Three events that changed the business scenario include the implementation of demonetization & GST and the pandemic-related restrictions. Survival became the only viable factor for businesses. This study dwells deeper into these three events and their influence on the adoption of digitalization by MSMEs in rural India. Methodology: Responses of the rural MSME owners were collected through a structured questionnaire containing multiple-choice questions on a 5-point Likert scale. To have better clarity, responses of 274 rural MSME owners were finally considered for the data analysis. For factor analysis of the data, the process of Principal Component Analysis (PCA) was adopted with the help of IBM SPSS 25.0. To find out the validity of the model, Structural Equation Modelling (SEM) was performed by using IBM AMOS 21.0. Findings: It is found that the pandemic effect has the strongest significance followed by the demonetization effect on MSME owners towards the adoption of digitalization for their business. GST was implemented within a year of demonetization, so its effect is found to be non-significant. Practical Implications: The results of the study will help the government as well as IT solution providers to chalk out their strategies, products, or reforms taking into consideration the particular problems faced by MSMEs related to demonetization and pandemic closure. The outcome will also help in better implementation of the ‘Vocal for Local’ initiative. Originality: The results of the proposed study indicate that during all the three major events, the importance of digitalization has been witnessed by the MSMEs. These uncertain times have prioritized the use of digitalization not only for their survival but also to match the consumers’ demands during those periods. This study shows the importance of digitalization and will help the cup to reach the lip and both the economy and the MSME owners will be benefitted from it.","PeriodicalId":43057,"journal":{"name":"NMIMS Management Review","volume":"1 1","pages":""},"PeriodicalIF":0.2,"publicationDate":"2021-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42156132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose :This paper is an attempt to explore the relationship between the value premium and expected stock returns in the Indian stock market and evaluates whether the value premium disappears or not when the different economic conditions (Boom & Recession), market conditions (Bull & Bear) and 2008 Global financial crisis are considered. Methodology: The annual data of 500 companies belonging to BSE-500 from 1999- 2017 was collected and ten portfolios were constructed and sorted using six valuation proxies (P/B, P/E, D/P/, CF/P, S/P and EV/PBDITA). Standard CAPM and Dual beta market model were employed. Findings: The empirical results confirm that irrespective of market conditions, value stock portfolios surpass growth stock portfolios in the Indian stock market by delivering significant abnormal returns. Practical implications: The paper holds important implications for asset pricing literature and investors. The higher returns generated by value stocks during the crisis and recession period imply that investors can put faith in the value stocks during times of adversity. The future value of an investment is a function of its present price. The lower the price, the higher the returns will be. Therefore, value stocks are good investments whether it is boom or recession, bull or bear, crisis or non-crisis periods. Originality: The paper is first of its kind to study the impact of business cycles, stock market phases and crisis on the value premium in the Indian stock market. The paper contributes to portfolio management and asset pricing literature for an emerging market.
{"title":"The Impact of Business Cycles, Stock Market Phases and Crisis on the Value Premium: The Indian Experience","authors":"Priti Aggarwal, Vanita Tripathi","doi":"10.53908/nmmr.290301","DOIUrl":"https://doi.org/10.53908/nmmr.290301","url":null,"abstract":"Purpose :This paper is an attempt to explore the relationship between the value premium and expected stock returns in the Indian stock market and evaluates whether the value premium disappears or not when the different economic conditions (Boom & Recession), market conditions (Bull & Bear) and 2008 Global financial crisis are considered. Methodology: The annual data of 500 companies belonging to BSE-500 from 1999- 2017 was collected and ten portfolios were constructed and sorted using six valuation proxies (P/B, P/E, D/P/, CF/P, S/P and EV/PBDITA). Standard CAPM and Dual beta market model were employed. Findings: The empirical results confirm that irrespective of market conditions, value stock portfolios surpass growth stock portfolios in the Indian stock market by delivering significant abnormal returns. Practical implications: The paper holds important implications for asset pricing literature and investors. The higher returns generated by value stocks during the crisis and recession period imply that investors can put faith in the value stocks during times of adversity. The future value of an investment is a function of its present price. The lower the price, the higher the returns will be. Therefore, value stocks are good investments whether it is boom or recession, bull or bear, crisis or non-crisis periods. Originality: The paper is first of its kind to study the impact of business cycles, stock market phases and crisis on the value premium in the Indian stock market. The paper contributes to portfolio management and asset pricing literature for an emerging market.","PeriodicalId":43057,"journal":{"name":"NMIMS Management Review","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2021-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44055294","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study has been conducted in the adjoining regions of West Bengal and Bangladesh (erstwhile East Bengal) among various respondent groups. Both the regions have been archetypally known to share multiple cultural commonalities. Notwithstanding, there exists divergences in the culture, which have been tested using Hofstede's Cultural Dimensions Framework. Further, the study investigates whether there exist any divergences in how the personalities of the two smart phone brands, namely, Samsung and Xiaomi, are perceived in the two regions. An aggregate sample of 295 and 287 respondents have been selected conveniently from West Bengal, India and Bangladesh, respectively. The current study primarily aims to probe into the cultural dissimilarities between the two contiguous regions of West Bengal (in India) and Bangladesh. Subsequently, the study investigates the probable impact of such cross-cultural dissimilarities on consumers' perception concerning the personality of select smart phone brands, specifically Samsung and Xiaomi. The study provides good empirical insight into the fact that despite the uniform positioning of the two smart phone brands in the two West Bengal and Bangladesh regions, their personality traits are perceived differently by consumers dwelling in these cultures. The analysis yields that respondents from West Bengal and Bangladesh demonstrated notable congruencies in perceiving Xiaomi as a 'responsible' and ''aggressive' brand. However, Samsung is perceived as an 'aggressive' brand in Bangladesh and 'stable' in West Bengal. The perceptual deviations of the smart phone brands' personalities exist due to the cultural divergences between the two regions. The current study is unique in that it offers a new-fangled perspective to looking at cross-cultural research by comparing politico-administrative units instead of countries at large. Yet, it is bound by imperfections, such as limited sample size, making it difficult to make more detailed comments on individuals' perceptions towards the brand personality dimensions of smart phones. Although adequate care has been taken to eliminate the “made-in image” of the Chinese smart phones, respondents were generally biased towards the product quality, brand acquaintance and their overall perceptions towards the personality of the said brands. Brand personality plays an integral role in easing communications with customers. They can, resultantly, relate conveniently to the identity and the personality traits possessed by such brands. Marketing professionals can essentially aim to foster a brand-customer personality congruence, which would ideally enable them to position their product offerings accordingly and design tailored advertising and marketing communication messages. A well-defined brand personality initiates greater customer purchase willingness coupled with amplified emotional attachment, trust and loyalty, thereby enhancing the significance of branding to managers. They can help de
{"title":"Cross-Cultural Dissimilarities in the Perception of Brand Personality of Select Smart phones: Evidence from West Bengal, India and Bangladesh","authors":"Shaunak Roy, Shivaji Banerjee, F. Head","doi":"10.53908/nmmr.290203","DOIUrl":"https://doi.org/10.53908/nmmr.290203","url":null,"abstract":"The study has been conducted in the adjoining regions of West Bengal and Bangladesh (erstwhile East Bengal) among various respondent groups. Both the regions have been archetypally known to share multiple cultural commonalities. Notwithstanding, there exists divergences in the culture, which have been tested using Hofstede's Cultural Dimensions Framework. Further, the study investigates whether there exist any divergences in how the personalities of the two smart phone brands, namely, Samsung and Xiaomi, are perceived in the two regions. An aggregate sample of 295 and 287 respondents have been selected conveniently from West Bengal, India and Bangladesh, respectively. The current study primarily aims to probe into the cultural dissimilarities between the two contiguous regions of West Bengal (in India) and Bangladesh. Subsequently, the study investigates the probable impact of such cross-cultural dissimilarities on consumers' perception concerning the personality of select smart phone brands, specifically Samsung and Xiaomi. The study provides good empirical insight into the fact that despite the uniform positioning of the two smart phone brands in the two West Bengal and Bangladesh regions, their personality traits are perceived differently by consumers dwelling in these cultures. The analysis yields that respondents from West Bengal and Bangladesh demonstrated notable congruencies in perceiving Xiaomi as a 'responsible' and ''aggressive' brand. However, Samsung is perceived as an 'aggressive' brand in Bangladesh and 'stable' in West Bengal. The perceptual deviations of the smart phone brands' personalities exist due to the cultural divergences between the two regions. The current study is unique in that it offers a new-fangled perspective to looking at cross-cultural research by comparing politico-administrative units instead of countries at large. Yet, it is bound by imperfections, such as limited sample size, making it difficult to make more detailed comments on individuals' perceptions towards the brand personality dimensions of smart phones. Although adequate care has been taken to eliminate the “made-in image” of the Chinese smart phones, respondents were generally biased towards the product quality, brand acquaintance and their overall perceptions towards the personality of the said brands. Brand personality plays an integral role in easing communications with customers. They can, resultantly, relate conveniently to the identity and the personality traits possessed by such brands. Marketing professionals can essentially aim to foster a brand-customer personality congruence, which would ideally enable them to position their product offerings accordingly and design tailored advertising and marketing communication messages. A well-defined brand personality initiates greater customer purchase willingness coupled with amplified emotional attachment, trust and loyalty, thereby enhancing the significance of branding to managers. They can help de","PeriodicalId":43057,"journal":{"name":"NMIMS Management Review","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2021-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47272270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper endeavours to analyze Cost Efficiency vis-à-visRevenue Efficiency of Scheduled Commercial Banks (SCBs) as well as across ownership in India. Data Envelopment Analysis (DEA) has been employed to calculate the efficiency scores of SCBs over five points of time i.e. 2000-01, 2004-05, 2008- 09, 2012-13 and 2016-17. The differences in the efficiency scores are examined by applying Analysis of Variance (ANOVA). The results of Cost and Revenue Efficiency of Indian Scheduled Commercial Banks highlight that the highest level of inefficiency subsist on the cost side as Scheduled Commercial Banks have higher Revenue Efficiency scores in comparison to Cost Efficiency scores. Cost Efficiency across ownership shows that Public Sector Banks have higher Cost Efficiency in 2000-01. Private Sector Banks are cost efficient in 2004-05 while Foreign Sector Banks show higher Cost Efficiency scores in 2008-09, 2012-13 and 2016-17. Revenue Efficiency scores shows that Public Sector Banks have higher scores as compared to Private and Foreign Sector Banks in the 2000-01 and 2004-05. Foreign Sector Banks are revenue efficient in 2008-09 and 2016-17 with Private Sector Banks taking the lead in 2012-13. The results of ANOVA reveal that there exists a statistically significant difference in Cost Efficiency and Revenue Efficiency among banks in different sectors over different points of time.
{"title":"Cost Efficiency Vis-à-Vis Revenue Efficiency Analysis of Indian Scheduled Commercial Banks in a Dynamic Environment","authors":"A. Bhatia, Megha Mahendru","doi":"10.53908/nmmr.290204","DOIUrl":"https://doi.org/10.53908/nmmr.290204","url":null,"abstract":"The paper endeavours to analyze Cost Efficiency vis-à-visRevenue Efficiency of Scheduled Commercial Banks (SCBs) as well as across ownership in India. Data Envelopment Analysis (DEA) has been employed to calculate the efficiency scores of SCBs over five points of time i.e. 2000-01, 2004-05, 2008- 09, 2012-13 and 2016-17. The differences in the efficiency scores are examined by applying Analysis of Variance (ANOVA). The results of Cost and Revenue Efficiency of Indian Scheduled Commercial Banks highlight that the highest level of inefficiency subsist on the cost side as Scheduled Commercial Banks have higher Revenue Efficiency scores in comparison to Cost Efficiency scores. Cost Efficiency across ownership shows that Public Sector Banks have higher Cost Efficiency in 2000-01. Private Sector Banks are cost efficient in 2004-05 while Foreign Sector Banks show higher Cost Efficiency scores in 2008-09, 2012-13 and 2016-17. Revenue Efficiency scores shows that Public Sector Banks have higher scores as compared to Private and Foreign Sector Banks in the 2000-01 and 2004-05. Foreign Sector Banks are revenue efficient in 2008-09 and 2016-17 with Private Sector Banks taking the lead in 2012-13. The results of ANOVA reveal that there exists a statistically significant difference in Cost Efficiency and Revenue Efficiency among banks in different sectors over different points of time.","PeriodicalId":43057,"journal":{"name":"NMIMS Management Review","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2021-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45925276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
External demand on biological, social and psychological equilibrium of individuals, called as stress, has adverse impact on health, performance and wellbeing of an individual. One of the principal sectors of life, job and organization, leads to workplace stress. In both developed and developing nations job stress poses significant health risk to employees leading to anxiety, burnout, cardiovascular disease, depression, and insomnia. Declared as worldwide epidemic by WHO, stress, not only results in large emotional cost to worker's performance and financial burden on organization but also accounts for accidents at workplace. In the context of this study, the factor of psychological well-being is a state of mind which includes an individual's desire to live life joyfully, and attain equilibrium between activities at work and efforts to build psychological resilience where resilience is the ability to bounce back or rebound from difficulty or misfortune or even increased responsibility. This analysis which establishes quantitative relationship among organization role stress, psychological well-being and resilience at work can be used by organizations and academia in order to gain insights into organizations role stress, psychological well-being and resilience at workplace.
{"title":"Role Stress, Psychological Well Being and Resilience among Working Professional","authors":"Radhika Thanki, D. Pestonjee","doi":"10.53908/nmmr.290201","DOIUrl":"https://doi.org/10.53908/nmmr.290201","url":null,"abstract":"External demand on biological, social and psychological equilibrium of individuals, called as stress, has adverse impact on health, performance and wellbeing of an individual. One of the principal sectors of life, job and organization, leads to workplace stress. In both developed and developing nations job stress poses significant health risk to employees leading to anxiety, burnout, cardiovascular disease, depression, and insomnia. Declared as worldwide epidemic by WHO, stress, not only results in large emotional cost to worker's performance and financial burden on organization but also accounts for accidents at workplace. In the context of this study, the factor of psychological well-being is a state of mind which includes an individual's desire to live life joyfully, and attain equilibrium between activities at work and efforts to build psychological resilience where resilience is the ability to bounce back or rebound from difficulty or misfortune or even increased responsibility. This analysis which establishes quantitative relationship among organization role stress, psychological well-being and resilience at work can be used by organizations and academia in order to gain insights into organizations role stress, psychological well-being and resilience at workplace.","PeriodicalId":43057,"journal":{"name":"NMIMS Management Review","volume":" ","pages":""},"PeriodicalIF":0.2,"publicationDate":"2021-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47506850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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