Industry Specific Strategy & Policy eJournal最新文献

{"title":"The Indian Farmer, Middlemen and the APMCs","authors":"Aditya Singh","doi":"10.2139/SSRN.1694096","DOIUrl":"https://doi.org/10.2139/SSRN.1694096","url":null,"abstract":"The emergence of middlemen in the Indian agricultural marketing sector can be traced to the Agricultural Produce Marketing Corporation Acts passed by State Legislatures all over India. Agriculture is a state subject, hence drafting legislation on marketing is the prerogative of the State. With the objective of protecting the interests of the farmer, the APMC Acts passed by States in India share the common features of dividing the territory of the State into specially designated 'market areas' with each area having an Agricultural Marketing Committee appointed by the Government. Such a committee may set up one or more government-run markets in which trading of designated agricultural produce may take place. Now, how has the system of marketing of agricultural produce taken place in India in the past? Outlining the basics, contrary to western market practices, the Indian farmer is prohibited by law from selling is produce directly to an urban retailer. He can sell to the end-consumers but there is a restriction- he cannot sell more than 400 kilogrammes. If he has a produce above this figure, then he has to proceed to the Agricultural Markets run by the Government. Licensed brokers, commission agents and traders operate at these markets. Only such licensed operators are allowed to buy agricultural produce from the producer. Therefore if an urban retail chain would like to purchase several tonnes of tomatoes to sell throughout the city, then it will have to procure them from these 'licensed market operatives'. The law prohibits them from sourcing them from the farmer. Rule 5 of the Maharashtra Agricultural Produce Marketing Rules explicitly says that agricultural produce can only be marketed at the APMCs. The stated objective of Indian Policymakers was to prevent exploitation of the farmer. They envisioned that the farmer's produce would be sold at these designated markets at prices which were publicly displayed and monitored by the government. This way whatever price the farmer sold his produce at could be monitored and ascertained for its reasonableness by the State Agricultural Market Committee. With buying limited to the license holders, their activities could be scrutinised to check whether they were paying the government approved prices to the farmer and not exploiting him. Unfortunately India faces the agony of having laws rich in nobility but lacking in practicality and shoddy in enforcement. There is no exception for the APMC Acts also. Originally intended to create a system wherein a group of carefully monitored functionaries would be allowed to purchase agricultural produce, the act backfired in action, ultimately creating a coterie of middlemen, who along with the complicity of the market committees, formed a virtual barrier between the farmer and the consumer, paying the former a pittance for his produce and charging the latter obscenely exhorbitant amounts for daily necessities. Thus, the provisions of the APMC Acts confer a virtual mon","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"40 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120847379","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":"Operational Hedging Strategies to Overcome Financial Constraints During Clean Technology Start-Up and Growth","authors":"S. Erzurumlu, Fehmi Tanrısever, N. Joglekar","doi":"10.4018/978-1-61350-156-6.CH008","DOIUrl":"https://doi.org/10.4018/978-1-61350-156-6.CH008","url":null,"abstract":"Clean technology startups face multiple sources of uncertainty, and require specialized know-how and longer periods for revenue growth than their counterparts in other industries. These start-ups require large investments and have been hit hard during the current credit squeeze. On the other hand, clean technologies create important positive externalities for the economy. Hence, loan guarantees and other incentive schemes are being developed that are conditioned upon operational benchmarks. We offer a framework to establish the extent wherein operational hedging can reduce risk and increase the probability of obtaining financing. We examine a variety of evidence, ranging from production outsourcing to creation of joint ventures, to posit that operational hedging may affect both the marginal cost of capital and the marginal return on investment through mitigating the informational problems in the market. However, operational hedging may not be an effective strategy in all settings: the decision for creation of such hedges ought to weigh the benefits of reduced marginal cost of capital and the opportunity cost of reduced future growth potential against a status quo.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114965815","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":"Retaining Employees a Crucial Job for HR Professionals: A Case Study of XYZ Airlines","authors":"Richa Mishra","doi":"10.2139/ssrn.1532092","DOIUrl":"https://doi.org/10.2139/ssrn.1532092","url":null,"abstract":"Manager HR XYZ Airlines, Deepak Kumar’s room one more resignation lying on the table. He was quite worried this resignation will add to already increased attrition rate. He was more worried about the after effects of this resignation as the news will spread like fire in a forest, which may lead to further increase in the number of resignations. Concern of Mr. Deepak is acceptable as he knows that in today’s new age economy, with its attendant paradigm shifts in relation to the human capital, in terms of its acquisition, utilization, development and retention, has placed a heavy demand on today's HR professional. With a dynamically changing and volatile demand-supply equation, especially against erratic attrition trends and cutthroat competition no longer restricted to local or regional boundaries, a need for strategizing and putting in place a robust mechanism for attracting and retaining top talent becomes vital for the organization's very survival and growth. Employee retention is critical to the long-term health and success of the business. Retaining best employees ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning. For the Last three consecutive years, this XYZ Airlines was experiencing above industry average employee turnover, so a formal internal committee had been established to address the problem. The President assigned the goal of reducing their turnover rate to a level that was ten percentage points below the industry average. Committee members had conducted an employee survey and were seeking expert advice for interpreting the survey results prior to taking corrective action.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126895821","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":"Inefficiency in the German Mechanical Engineering Sector","authors":"Alexander Schiersch","doi":"10.2139/ssrn.1514278","DOIUrl":"https://doi.org/10.2139/ssrn.1514278","url":null,"abstract":"This paper aims to examine the relative efficiency of German engineering firms using a sample of roughly 23,000 observations between 1995 and 2004. As these firms had been successful in the examination period in terms of output- and export-growth, it is expected that a majority of firms is operating quite efficiently and that the density of efficiency scores is skewed to the left. Moreover, as the German engineering industry is dominated by medium sized firms, the question arises whether these firms are the most efficient ones. Finally an increasing efficiency gap between size classes over time is important since that would be a signal for a structural problem within the industry. The analysis - using recently developed DEA methods like bootstrapping or outlier detection - contradicts the two first expectations. The firms proved to operate quite inefficiently with an overall mean of 0.69, and efficiency differs significantly with firm size whereas medium sized firms being on average the least efficient ones. When looking at changes in efficiency over time, we find a decreasing efficiency gap between size classes.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124801701","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 the Challenges and Opportunities Faced by Organized Retail Players in Bangalore","authors":"M. Dash, Sam Chandy","doi":"10.2139/ssrn.1435218","DOIUrl":"https://doi.org/10.2139/ssrn.1435218","url":null,"abstract":"Even though Indian retailing is hailed as a huge sector in India, in reality, it is not so rosy when compared to the retail scenario in developed and other developing countries. Indian retail is still in the infancy stage, with the retail revolution gaining momentum in India only in the late 1990’s, and there are a number of challenge factors which need to be overcome and a number of opportunity factors which need to be leveraged upon, if organized retailing is to flourish the way it ideally should. This study revolves around the opportunities and challenges faced by organized retail players in Bangalore. It was found that organized retailers see competition from the unorganized sector as their biggest challenge, followed by competition between organized retailers and the inefficiency of distribution channels, internal logistical problem and retail shrinkage, while unorganized retailers see organized retailing as their major challenge, followed by cost of operation, logistical problem, competition between other kirana retailers and inefficient distribution channels. It was also found that organized retailers see Bangalore’s growing middle class as their greatest opportunity followed by large number of earning youth customers, Bangalore having people from all over India, proportionate increase in spending with earnings and India’s booming economy, while the kirana retailers see Bangalore having people from all over India as their biggest opportunity, followed by Bangalore’s growing middle class, India’s booming economy, large number of educational institutions in Bangalore and proportionate increase in spending with earnings. Thus, the study found that the major challenges as well as opportunities of organized and unorganized retail are almost the same. This means that mitigating the challenges and leveraging on the opportunities could benefit both sectors.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133810296","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":"Product Differentiation and Welfare in a Mixed Duopoly with Regulated Prices: The Case of a Public and a Private Hospital","authors":"A. Herr","doi":"10.2139/ssrn.1572302","DOIUrl":"https://doi.org/10.2139/ssrn.1572302","url":null,"abstract":"Hospital markets are often characterised by price regulation and the existence of different ownership types. Using a Hotelling framework, this paper analyses the effect of different objectives of the hospitals on quality, profits, and overall welfare in a price regulated duopoly with symmetric locations. In contrast to other studies on mixed oligopolies, this paper shows that in a duopoly with regulated prices privatisation of the public hospital may increase overall welfare depending on the difference of the hospitals' marginal costs and the weight of the additional public hospital's motive.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132513591","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":"The Impact of Terrorism on the Defense Industry","authors":"Claude Berrebi, Esteban F. Klor","doi":"10.2139/SSRN.729006","DOIUrl":"https://doi.org/10.2139/SSRN.729006","url":null,"abstract":"This paper analyzes the impact of terrorism on Israeli companies related to the defense, security or anti-terrorism industries, relative to its impact on the rest of the companies. The authors match every Israeli company to the American company with the closest expected return among all the companies that belong to the same industry and trade in the same market in order to isolate the effect of terrorism from other common industry shocks. The findings show that whereas terrorism had a significant negative impact of 5% on non defense-related companies, it had a significantly positive overall effect of 7% on defense-related companies.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128448710","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":"Mimicry or Meaning Making: Variations in Manufacturing Best Practices Programs in Australia and New Zealand","authors":"P. Cebon, E. Love","doi":"10.2139/ssrn.1028457","DOIUrl":"https://doi.org/10.2139/ssrn.1028457","url":null,"abstract":"We ask how institutionalization affects the way managers understand novel practices, and how that understanding affects adoption behaviour. We argue that all managers act as sensemaking agents who construct theories about novel practices on the basis of the theories they learn, the discourse in which they engage, and the behaviours they observe. As a consequence of their theorization, they grade the categories relevant to the novel practice. That is, they come to see some members as better exemplars of the category than others, and, we argue, more valued members of the category. Institutionalization leads to managers across the field developing a coherent set of category gradings. Consequently, late adopters, being more subject to institutional processes, will be more likely to adopt the most representative members of the category. We test this idea, and compare it to the idea that managers select processes through inter-organisational monitoring and mimicry, by examining the adoption of Manufacturing Best Practice programs in Australia and New Zealand. Our data support our arguments regarding theorization, but not inter-organisational monitoring.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130954869","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":"The Transparency of the Banking Industry and the Efficiency of Information-Based Bank Runs","authors":"Yeh-ning Chen, I. Hasan","doi":"10.2139/ssrn.670504","DOIUrl":"https://doi.org/10.2139/ssrn.670504","url":null,"abstract":"In this paper, we investigate the relationship between the transparency of banks and the fragility of the banking system.We show that information-based bank runs may be inefficient because the deposit contract designed to provide liquidity induces depositors to have excessive incentives to withdraw.An improvement in transparency of a bank may reduce depositor welfare through increasing the chance of an inefficient contagious bank run on other banks.A deposit insurance system in which some depositors are fully insured and the others are partially insured can ameliorate this inefficiency.Under such a system, bank runs can serve as an efficient mechanism for disciplining banks.We also consider bank managers' control over the timing of information disclosure, and find that they may lack the incentive to reveal information about their banks. Key words: bank run, contagion, transparency, market discipline, deposit insurance JEL classification numbers: G21, G28","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"149 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116180500","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":"Self-Interest on Mutual Fund Management: A Case Study","authors":"Carlos F. Alves, V. Mendes","doi":"10.2139/ssrn.672095","DOIUrl":"https://doi.org/10.2139/ssrn.672095","url":null,"abstract":"Previous research has concluded that mutual funds' clients do have asymmetric performance reactions. Such behavior gives the fund manager the opportunity to optimize the fund's own interests. Using a unique database from a financial system wherein commercial interests, investment banking and portfolio management are concentrated in the same banking group, we show that mutual funds tend to exhibit biased portfolios, i.e., financial assets of the group's parent company outweigh other financial asset holdings. This cannot be explained by performance, risk or securities' characteristics, and is consistent with the hypothesis of the existence of self-interest on mutual fund management.","PeriodicalId":348605,"journal":{"name":"Industry Specific Strategy & Policy eJournal","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133082402","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}