{"title":"Stock Liquidity and Capital Structure: Evidence from NSE Listed Top 100 Non-Finance Indian Firms","authors":"Shubha Ranjan Dutta, S. Sen, T. Mukherjee","doi":"10.54063/ojc.2022.v43i01.04","DOIUrl":"https://doi.org/10.54063/ojc.2022.v43i01.04","url":null,"abstract":"This study has investigated the influence of the stock liquidity (measured by Amihud’s illiquidity) of a company on its capital structure using the top 100 non-finance firms listed in the NSE from 2010-11 to 2019-20. Using the fixed-effect panel regression model, the study has established that illiquidity has a significant affirmative influence on the book and market leverage. Furthermore, the findings reveal that turnover representing the business size and return on assets have adverse associations with both book and market leverage. Moreover, asset tangibility bears a positive influence on book leverage. The results endorse the usefulness of the notion of Peckingorder in the context of Indian companies.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124173676","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}
{"title":"Determinants of Equity Share Prices in National Stock Exchange of India: A Panel Data Approach","authors":"Mahfuzul Alom, Soma Roy Dey Choudhury","doi":"10.54063/ojc.2022.v43i01.03","DOIUrl":"https://doi.org/10.54063/ojc.2022.v43i01.03","url":null,"abstract":"The movement of share price depends upon some indicators that investors consider while making investment decisions. The study aims to analyse the determinants of share prices in National Stock Exchange of India. It covered a period of five years and used panel data approach on twenty-five Nifty representative stocks to establish the determinants of share prices. The data were analysed with the help of MS Excel 2013, stata-13 and SPSS-2 software. The study reveals that 58% of the fluctuations of share prices in India is affected due to the variables like Earnings per Share, Price to Earnings Ratio, Price to Book Ratio, Return on Net Worth, Dividend Per Share, Price to Net Profit Ratio, Profit Before Dividend, Interest and Tax and Gross Domestic Product. The study suggests that investors can make profitable decision by considering the determinants that have a significant bearing on share prices.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115652315","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}
{"title":"Factors Enabling the Shift from Unorganized to Organized Retail Sector through Mobile Payments","authors":"H. Kumar, Kritika Mathur","doi":"10.54063/ojc.2021.v42i04.04","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.04","url":null,"abstract":"In the 21st century, smartphones and the internet have become an integral part of life. It is noteworthy that the future is full of technologydriven payment systems; therefore, the mobile payment system is the next big thing in this arena. This study highlights the factors influencing the consumers to accept or adopt the mobile payments system. This study attempts to study elements having a role in shifting consumers from unorganized to organized retail sector through the Mobile Payment System (MPS). A questionnaire was prepared using Google forms to collect data, and it was shared using WhatsApp and e-mail with the target respondents. In this study, 103 responses were analyzed and collected before India’s first lockdown. The confirmatory factor analysis was used, and various factors were identified. It is found that trust, privacy and security issues are still restricting the user to adopt the online mode of payment; hence TAM model stands valid. This study attempts to examine the influence of MPS on unorganized retailing.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124761388","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}
{"title":"A Study on Impact of Consolidation on the Profitability of Regional Rural Banks in India","authors":"S. Chaudhary, M. Kaur","doi":"10.54063/ojc.2021.v42i04.02","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.02","url":null,"abstract":"Consolidation in the form of mergers or amalgamation has always seemed to be an option to revive loss-making and inefficient banks or firms. Consolidation supporters argue that minimizing surplus capacity in banking will eliminate the industry of inefficient operating financial institutions. The present study aimed to empirically analyse the effect of amalgamation on the performance of regional rural banks (RRBs) in India. A paired t-test (univariate analysis) has been employed to evaluate pre- and post-amalgamation comparisons of various profitability proxies. The results revealed that return on equity increased significantly in the post-merger period. In the second stage of analysis, panel regression has been employed; the results confirmed the findings of univariate analysis and revealed a significant increase in ROE in the post amalgamation period. Hence, supporting the theories of value creation of mergers and acquisitions (M &As), the present research states that the profitability performance of regional rural banks in India has increased marginally after the M&As exercise.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128080722","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}
{"title":"Service Experience and Customer Satisfaction in Offline and Online Services: A Study on Traditional Apparel Retail in Odisha","authors":"S. Mohanty, R. Das","doi":"10.54063/ojc.2021.v42i04.06","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.06","url":null,"abstract":"This study reconnoitres the possibilities of any relationship shift in customer service and customer satisfaction within a new space of the young generations’ involvement in buying traditional apparel in Odisha. This study addresses the possible inputs for discrepancies while purchasing the traditional dress. It involves the marketing mix elements as the inputs to assess the consumer service and further consumer satisfaction as the outputs. Structural Equation Modelling has been applied to determine consumers’ responses to service experience and customer satisfaction within the theoretical inclusion of traditional apparel in Odisha. The study found that service experience does not drive the customers’ satisfaction, and the marketing mix elements do not equally affect the service experience. The findings of this study are relevant for future research on a hybrid buying situation where the traditional products are marketed within young generations’ expectations and aspirations. The study will guide marketers to revisit the roles of the marketing mix in dealing with overall consumer experience and satisfaction.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126190873","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}
{"title":"Customer Grievance Redressal Mechanism in the Banking Sector: A Customer Perception Analysis","authors":"Carvalho Faustina Cicila","doi":"10.54063/ojc.2021.v42i04.03","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.03","url":null,"abstract":"This study focuses on customer perception in terms of customer awareness of grievance redressal mechanisms in the banking sector. Banks being organisations of economic importance should make conscious efforts to establish secure service recovery culture. Developing a good complaint management system alone cannot serve the purpose of catering to the customers but making the customer aware of the various redressal avenues at their disposal is also necessary therefore this study was undertaken. The objective of the study is to evaluate the general awareness of customers on the different avenues for redressal. Statistical tools like the ANOVA test, multiple regression has been applied to determine the results. Data were collected from 384 bank customers through an interview schedule. The results of the study highlighted that the customer awareness of redressal processes and mechanisms is low for external processes rather than internal processes of banks.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131380238","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}
{"title":"Influence of Research Infrastructure, Teachers’ Motivation and Career Opportunity on Students’ Attitude towards Research","authors":"Priyabrata Panda, Arjuna Kumar Maharana, Shaikh Iqbal","doi":"10.54063/ojc.2021.v42i04.08","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.08","url":null,"abstract":"Research skill and temper not only helps in rational decision making but also facilitates positive change in every dimension of social life and such attitude must develop from the undergraduate level. In the light of this, the present research work tried to assess the factors which stimulate students’ temper towards research. The influence of teacher’s motivation and research infrastructure on students’ attitude towards research is studied along with the mediation effect of career opportunity. Data are collected through scheduled questionnaire method from B. Com and M. Com final semester students from different colleges of western Odisha. Structural equation model is applied to study such effect. It is found that teacher’s motivation and research infrastructure have no direct effect but has mediated effect on student’s attitude. So, the policy makers should focus providing career opportunity to the students in research to ignite research attitude among them from the graduate level.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130390014","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}
{"title":"Stock Market Dynamics with Respect to Advance-Decline Ratio in Pre and During Covid-19 Pandemic: An Empirical Analysis of S&P BSE Sensex","authors":"S. Mohapatra","doi":"10.54063/ojc.2021.v42i04.01","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.01","url":null,"abstract":"The Indian stock market during the Covid-19 pandemic performed quite well in comparison to that of the pre-Covid period. Based on daily data from Bombay Stock Exchange, it was observed that the S&P BSE Sensex has grown by 85.5% from 1st April 2020 to 30th June 2021, while during a 9-year period from March 2011 to March 2020, the Index has grown by 59% only. To investigate further regarding this exceptional growth of stock market despite the Covid-19 pandemic, the advance-decline ratio (ADR) was also analyzed for the similar period. It was noticed that the daily average of ADR was 1.20 during the Covid-19 while it was only 1.03 during the last 9 years prior to the pandemic. The present study is focused on the impact of ADR on stock market return during Covid-19 as well as prior to the pandemic using regression analysis and to investigate the stock market response to overbought and oversold scenarios during Covid-19 pandemic.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123323711","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}
{"title":"Pattern of Employee Cost in Select Corporate Sectors of India: An Empirical Analysis","authors":"Neelam Yadav, Shurveer S. Bhanawat","doi":"10.54063/ojc.2021.v42i04.09","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.09","url":null,"abstract":"This paper paper is an attempt to identify the pattern of employee cost in the Indian corporate sector during the last 15 years from 2005 to 2019. In order to achieve the objective, data from 9 sectors have been selected. For testing the hypotheses, the ANOVA test has been applied. The study concludes that the Indian corporates have not yet adopted any consistent wage policy. Further, it is also attempted to provide insightful information for policymakers to lessen the attrition rate in the corporates by analyzing the employee cost component in cost structure; it will also give room to the companies to determine up to what extent the employee cost will be increased. From the point of view of employment, the IT sector is an alluring sector that consistently providing the highest wages to the employees over the selected years of study.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124979982","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}
{"title":"Impact of Demographic Factors on Purchase Intention of Organic Skin Care Products: A Study in Select Cities of India","authors":"R. Narang, Radhika Sharma","doi":"10.54063/ojc.2021.v42i04.05","DOIUrl":"https://doi.org/10.54063/ojc.2021.v42i04.05","url":null,"abstract":"Global organic skin care industry is expected to register a phenomenal growth in the next five years due to increasing popularity of healthier lifestyle. Surprisingly, most existing literature is limited to organic food or personal care products. This study is a pioneering attempt to profile Indian users of organic skin care products. Demographic relationship with purchase intention was empirically tested. Employing regression analysis, the findings revealed that personal income and education have significant influence on intention to buy organic beauty/ skin-care products. Results of this study have crucial theoretical and practical implications for marketers of organic skin care industry as it will give them an insight regarding Indian consumers of organic skin care products. Firms can develop effective marketing strategies for organic skin care products focusing on the key demographic influences by pondering over the results of this study.","PeriodicalId":119023,"journal":{"name":"Orissa Journal of Commerce","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130137969","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}