{"title":"Market design principles for the securitisation of non-performing loans","authors":"Rohit Prasad , Yogesh B. Mathur","doi":"10.1016/j.iimb.2022.12.003","DOIUrl":"10.1016/j.iimb.2022.12.003","url":null,"abstract":"<div><p>In a world where the problem of NPLs is all but ubiquitous, and success stories of markets of distressed debt are rare, the paper establishes design principles for the creation of such markets. It does so by creating a theoretical model for gains to trade between banks, the sellers of non-performing loans (NPLs), and asset reconstruction companies (ARCs), in a context when buyers can pay using a combination of cash and securities issued against the NPL. The theoretical model is used to generate insights for the Indian case, and a new design for NPL auctions is proposed.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 4","pages":"Pages 392-404"},"PeriodicalIF":1.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S097038962200101X/pdfft?md5=cbb2f07479576c62a273725863975276&pid=1-s2.0-S097038962200101X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44012503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Performance of volatility asset as hedge for investor's portfolio against stress events: COVID-19 and the 2008 financial crisis","authors":"Chinnaraja Chendurpandian , Piyush Pandey","doi":"10.1016/j.iimb.2022.10.001","DOIUrl":"10.1016/j.iimb.2022.10.001","url":null,"abstract":"<div><p>Under stress events, most of the asset prices tend to be positively correlated, breaking the diversification benefits. In this study, we explore the performance of different assets particularly during stress events (the 2008 crisis and the COVID-19 crisis) which can come to the rescue of portfolio managers as hedging strategies. Further, the analysis evaluates the performance of different combinations of portfolios with and without including volatility assets. Empirical results indicate that with only an allocation of 5% of the portfolio to volatility asset class, investors with different risk appetites were able to achieve 10% expected returns with reduced uncertainty.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 242-261"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000751/pdfft?md5=d5b3db9dfca1bfe4d44f715d04c51841&pid=1-s2.0-S0970389622000751-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45353892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An aggregate modelling approach to examine the role of technology in operant and operand resources for value creation","authors":"Ming-Hsiung Hsiao","doi":"10.1016/j.iimb.2022.08.003","DOIUrl":"10.1016/j.iimb.2022.08.003","url":null,"abstract":"<div><p>This study aims to investigate the relationship between operant resources, operand resources, and technology and examines the influence on created value from the service-dominant logic perspective. It builds a research model for the impacting path of resources on value. For the empirical study, it adopts proxy variables as observable variables in representing latent or unobservable variables. By collecting aggregate national data, each endogenous and exogenous variable is modelled by a system of equations. The estimation results validate the dual role of technology in bridging the two types of resources between operant and operand resources for actors to create value.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 278-285"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000726/pdfft?md5=e0ca4d519fdac79829522a8b85297edd&pid=1-s2.0-S0970389622000726-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46881061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Ethics in competency models: A framework towards developing ethical behaviour in organisations","authors":"Debolina Dutta , Sushanta Kumar Mishra , Pawan Budhwar","doi":"10.1016/j.iimb.2022.10.002","DOIUrl":"10.1016/j.iimb.2022.10.002","url":null,"abstract":"<div><p>Competency models describe desired behaviours, skills, and attributes to facilitate organisational goals' achievement. The primary focus of a competency model is to align individual behaviours to organisationally expected behaviours. Given that employees’ ethical behaviour has become the sine qua non for organisations, it is surprising to see the absence of ethical competency in organisations’ competency models. Based on two separate studies with the heads of HR in Indian and South-East Asian organisations, the present study identified three core reasons for the absence of ethics in competency models (i.e., ideation, conceptualisation, and implementation challenges). Also, the study proposes a framework for fostering ethical behaviour amongst employees. Implications of the research for theory and practice are discussed.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 208-227"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000763/pdfft?md5=d3ae0c980a8ed21860b0940077f39de5&pid=1-s2.0-S0970389622000763-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44927088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Dynamic matching in campus placements: The benefits and affordability of the dream option","authors":"Ashutosh Ranjan , Sujit Gujar , Vinay Ramani","doi":"10.1016/j.iimb.2022.08.001","DOIUrl":"10.1016/j.iimb.2022.08.001","url":null,"abstract":"<div><p>We propose a new approach to improving student outcomes - the provision of the dream option that allows a student with a job offer to participate in the placement process again. Comparing three different student preference structures, we show that the dream option improves stability; however, it does not always improve student happiness and rank efficiency. Nevertheless, imposing a particular structure on student preferences, namely the sequential preference condition, improves both student happiness and rank efficiency. We recommend when to use the dream option and when not to use it.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 262-277"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000520/pdfft?md5=2475fcd99119ee69e67e93bb2f374f3e&pid=1-s2.0-S0970389622000520-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43384941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Identifying market power of retailers and processors: Evidence from coffee supply chain in India","authors":"Tanushree Haldar , A. Damodaran","doi":"10.1016/j.iimb.2022.09.002","DOIUrl":"10.1016/j.iimb.2022.09.002","url":null,"abstract":"<div><p>This paper deals with the dynamics of market power with processors and retailers in the coffee supply chain in India. We develop an imperfect competition model that allows for the potential oligopoly and/or oligopsony power of retailers and processors with respect to adjacent stakeholders in the supply chain. We also empirically determine the presence/absence of market power among processors and retailers in the coffee supply chain in India. This paper highlights the existence of market power with processors in the coffee industry that plays an important role in the imperfect price transmission and should not be ignored when developing regulatory policies.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 286-296"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S097038962200074X/pdfft?md5=ae98d780dc6894b71bbed46ac4008795&pid=1-s2.0-S097038962200074X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46702611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Impact of employment on newcomer's values: Role of supervisor's transformational leadership","authors":"Zubin R. Mulla , Venkat R. Krishnan","doi":"10.1016/j.iimb.2022.09.001","DOIUrl":"https://doi.org/10.1016/j.iimb.2022.09.001","url":null,"abstract":"<div><p>We explore changes in newcomers’ values from the day they join their first job, over time. In an engineering company (<em>N</em> = 244), after one month of classroom training, newcomers showed an increase in self-enhancement values and a reduction in self-transcendence values. In a bank (<em>N</em> = 59), after 18 months on-the-job experience, newcomers’ values showed a reduction in self-transcendence. In an automobile company (<em>N</em> = 64), the supervisor's transformational leadership enhanced self-transcendence values and reduced self-enhancement values of newcomers. We also found that transformational leadership of the newcomer's supervisor was positively related to enhancement of the newcomer–supervisor value congruence.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 228-241"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000738/pdfft?md5=3a865771d30d76b21aedd3c2bbda5e1a&pid=1-s2.0-S0970389622000738-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137148144","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Interplay of diversity, inclusion, and politics: Impact on employee well-being","authors":"Akanksha Jaiswal , Lata Dyaram , Naresh Khatri","doi":"10.1016/j.iimb.2022.08.002","DOIUrl":"10.1016/j.iimb.2022.08.002","url":null,"abstract":"<div><p>Workforce diversity literature highlights adverse effects of surface diversity on employee affect. We examine the applicability of surface diversity effects in the Indian social milieu. Since diversity effects are context-specific, in a first, we test the moderating impact of employee's perceived organisational politics on the inclusion mediated diversity-well-being link among 617 employees from Indian organisations. Post ascertaining the measurement model fit using AMOS 22, we used PROCESS to test for moderated-mediation effects. Perception of organisational politics moderated the surface diversity–inclusion–well-being link such that inclusion was found to be weaker for employees who perceived high politics. We discuss the implications for managers.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 3","pages":"Pages 195-207"},"PeriodicalIF":1.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000684/pdfft?md5=8c5bb09ade3ec25c22da8787204afc43&pid=1-s2.0-S0970389622000684-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49126178","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Predicting power of ticker search volume in Indian stock market","authors":"Ishani Chaudhuri, Parthajit Kayal","doi":"10.1016/j.iimb.2022.07.003","DOIUrl":"https://doi.org/10.1016/j.iimb.2022.07.003","url":null,"abstract":"<div><p>This study examines the ability of online ticker searches to serve as a valid proxy for investor sentiment and forecast stock returns and trading volumes in the Indian financial market. In contrast to the findings in prior research, we observe that ticker search volumes do not exhibit any predictive value for future excess stock returns. However, we find a weak but significant positive effect of ticker search volumes on trading volume with a two-week lag. A battery of robustness checks supports our findings. Our work warns the investors from possible misleading insights arising from search volume and stock returns related studies.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"34 2","pages":"Pages 143-152"},"PeriodicalIF":1.7,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389622000489/pdfft?md5=698263b1b034bbb53d80c0be52427188&pid=1-s2.0-S0970389622000489-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92132454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}