Vol. 6(3) March 2013
Ascendancy of Organized Retailing in Indian Retail
Industry
Lakshmi T.R. Kalai* and Rau S.S.
The modern Indian consumer is seeking more value in terms
of improved availability and quality, pleasant shopping environment, financing options,
trial rooms for clothing products, return and exchange policies and competitive
prices. This has created a rapidly growing opportunity for organized, modern retail
formats to emerge in recent years and grow at a fast pace. “The best way to predict
the future is to create it”, said Peter Drucker. This paper has tried to establish
the truth in this quote by understanding the future of modern India with the creation
of organized retailing segment in the country.
Full Text
On the Intricacies of Cash Flow Corporate Valuation
Singh J. P.
The current era of “convergence through connectivity”
is slowly but certainly acknowledging the contribution of the so-called “intangibles”
like brands, copyrights and patents, human and intellectual capital etc. to the
bottomlines of companies. As an obvious corollary, issues relating to the valuation
of such assets are surfacing with unprecedented regularity. Valuation of such assets
posits an intriguing challenge for the accounting fraternity that is entrenched
in the traditional ascendancy of “reliability” over “relevance”. “Discounted Cash
Flow” is ubiquitous in financial valuation. In fact, this technique constitutes
the cornerstone of contemporary valuation theory. The robustness of the model as
well as its compatibility with the conventional two dimensional risk-return framework
of investment appraisal make it immensely suited to a multitude of asset/liability
valuations. Accounting standards across the globe recognize the efficacy of this
model and advocate its use, wherever practicable. FAS 141 and 142 of the United
States and IAS 39 that relate to the accounting of intangible assets also recommend
use of DCF methodology for imputing a value to such assets. FAS 157 read with Concept
Paper 7 mandate its use for ascertaining “fair value” of assets in certain cases.
It is pertinent to note that the usual option pricing methods (including Black Scholes)
also make use of discounted cash flows for calculating instantaneous option premia.
However, like all models, DCF is not without its flaws. The model presupposes the
existence of several unrealistic and rigid assumptions including, in particular,
the existence of an acceptable “measure of risk” which is such that it can be integrated
with the “discount” rate.
Full Text
Green Marketing Initiatives by Corporate World: A
Study
Manappa Omkareshwar
Green marketing examines issues in understanding the
relationship between the marketing discipline, the public policy process and the
natural environment. Many terms describe this relationship: environmental marketing,
ecological marketing, green marketing, sustainable marketing and greener marketing.
Full Text
Supply Chain Management Practices on Healthcare Products
of HLL Lifecare Ltd., Trivandrum
Rigin E.V.1 and Raja Mohan S.2*
The last decade of the twentieth century was a period
of rapid change for organizations, especially in business. That rate of change has
not slowed down and is actually increasing in the twenty-first century. The forces
of change require organizations to be much more nimble and responsive, that is,
organizations need to be transforming themselves to survive in the intensely competitive
global environment. Change is inevitable, but growth and improvement are optional.
Full Text
The Relation between Diversification Strategy and
Organizational Performance: A Research on Companies registered to the Istanbul Stock
Exchange Market
İbrahim Anıl, Ihsan Yiğit1 and Cem Canel2*
This study examines the relationship between applications
of diversification strategies and organizational performance realized during the
recent economic crisis. Diversification strategy and organizational performance
relationship seems to differ across the developed and developing countries under
stable conditions. Studies on this relationship in developed countries conclude
that the relationship between diversification strategies and organizational performance
is in the form of an inverted U curve and that the relationship between diversification
strategies and organizational performance increases up to the medium value and then
shows a decrease in performance. However, there are studies concluding that the
indicators of the relationship between diversification strategies and organizational
performance in developed countries differ from the indicators in developing countries
due to the effects of government and business relations, market, production, labor
factors, and political economic variables. This study is based on a total of 318
companies listed in Istanbul Stock Exchange Market whose shares got traded in 2007.
The dependent variable of the research is organizational performance and the independent
variable is the measure of diversification. Rumelt's classification is utilized
as a measure of diversification. Financial values of Return on Asset (ROA) and Return
on Sales (ROS) are used as measures of organizational performance. The results of
this research show that in Turkey, the relationship between diversification strategies
and organizational performance varies.
Full Text
Forensic Examination Cognizance: An Empirical Study
Shinde Jaysinha S.1*, Shinde Udaysinha S.2 and Wacker Raymond3
This paper reports on the bleak awareness of forensic
examination in accounting students. A list of accounting frauds in the past 11 years
is developed after a thorough review of the academic accounting literature and the
popular press. This list of accounting frauds is whittled down based on the “visibility
and importance” of these frauds based on the input of an expert panel and other
quantitative criteria. A questionnaire is then developed to measure the awareness
of accounting fraud among students who had taken undergraduate accounting courses
at a mid-western university. The psychometric properties of this questionnaire are
thoroughly tested. This paper uses factor analysis, reliability testing and scree
plots to develop and validate the Awareness of Accounting Fraud Scale (AAFS). The
results of this survey point to a dim picture in terms of “realworld” fraud knowledge
of accounting students and have grave implications for accounting pedagogy.
Full Text
An Investigation of the Determinants of Turnover Intention
among Truck Drivers in the USA
Al Arkoubi K.1*, Bishop J. W.2 and Scott D.3
Drivers’ turnover remains a major challenge in the trucking
industry in the US. It is harshly affecting companies’ performance and the American
economy. This situation is worsened by the continuous shortage in the drivers’ market
and the lack of effective coping strategies. While academic research in this area
is beginning, consulting firms seem to be the most engaged in exploring this issue.
Our study explores some determinants of turnover intention. It proposes a model
hypothesizing the existence of relationships between fairness and recognition and
job satisfaction. The latter along with commitment are perceived in this model as
negatively related to the intent to quit.
Full Text
Assessing the impact of Swarnjayanti Gram Swarozagar
Yojana in Khurdha District of Odisha
Behera P.K.
The paper is based on an empirical study that sought
to assess the impact of SGSY as a poverty alleviation strategy and examined both
the programmatic and processual aspects of implementation. The study collected and
analyzed data/information canvassing household schedule among Swarozgaris of Banpur,
Tangi and Jatani blocks of Khurda district in Orissa, analyzed secondary information
and consulted responsibility holders of the facilitating agencies to arrive at the
conclusion and put forth suitable recommendations. This paper highlights some of
the findings of the study such as; reaching out of the scheme to the landless and
land poor households, low average per family investment, weak institutional structures
and inappropriateness of the processes leading to failure of the scheme in accomplishing
its desired objectives.
Full Text