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D’Cruz Premilla Noronha Ernesto Banday Muneeb Ul Lateef Chakraborty Saikat 《Journal of Business Ethics》2022,176(2):241-263
Journal of Business Ethics - Engaging Polanyi’s embeddedness–disembeddedness framework, this study explored the work experiences of Bhil children employed in Indian Bt cottonseed GPNs.... 相似文献
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In the year 2007, Indian capital market regulator-SEBI, introduced a unique certification mechanism for IPOs whereby all IPOs have to undergo mandatory quality grading by independent rating agencies. In this paper we argue that such objective, independent and exogenous certifying mechanism provides a better opportunity to test the well established certification hypothesis, especially in the context of emerging markets with institutional voids. Using a sample of 163 Indian IPOs we test the efficacy of IPO grading mechanism. We find, grading decreases IPO underpricing and positively influences demand of retail investors. Grading reduces secondary market risk and improves liquidity. However, grading does not affect long run performance of the IPOs. IPO grading successfully capture firm size, business group affiliation and firm’s quality of corporate governance. Our findings imply that, in emerging markets, regulator’s role to signal the quality of an IPO contributes towards the market welfare. 相似文献
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Saikat Banerjee 《食品市场学杂志》2018,24(4):413-440
It is critical to understand the impact of controversy on the consumer. There is a scarcity of research measuring post-controversy consumer attitude on both product and corporate brand during a controversy. The study is based on a recent brand controversy linked with instant noodle brand “Maggi” in India. The study examines impact on brand perceived quality, credibility, trust and loyalty, and attitude about brand and company. Data have been collected during July–October 2015 when the brand Maggi was banned in India due to quality-related controversy. Results indicate that respondents, with higher post-controversy brand loyalty, hold positive attitudes about brand. The interaction effect reveals that the relationship is significant and positive. During controversy, consumers’ attitude about brand and company is not identical. For a strong brand, consumers may have positive attitude but they become quite negative about company. 相似文献
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Despite widely documented criticisms, price-limit rules are present in many equity markets around the world. Using a game-theoretic model, we argue that, if the cost of monitoring a market is high, price-limit rules are beneficial. Empirical tests based on a cross section of 43 equity markets across five continents support our theoretical prediction. We find that the probability of the existence of price-limit rules is greater in markets that incur higher monitoring costs due to poorer business disclosure, more corruption and less efficiency in legal, regulatory and technological environments. 相似文献
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Marat V. Kramin Saikat Nandi Alexander L. Shulman 《Review of Quantitative Finance and Accounting》2008,31(4):359-378
This article presents a numerically efficient approach for constructing an interest rate lattice for multi-state variable
multi-factor term structure models in the Makovian HJM [Econometrica 70 (1992) 77] framework based on Monte Carlo simulation and an advanced extension to the Markov Chain Approximation technique. The
proposed method is a mix of Monte Carlo and lattice-based methods and combines the best from both of them. It provides significant
computational advantages and flexibility with respect to many existing multi-factor model implementations for interest rates
derivatives valuation and hedging in the HJM framework.
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Alexander L. ShulmanEmail: |
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This paper develops a model of asymmetric information in which an investor has information regarding the future volatility
of the price process of an asset and trades an option on the asset. The model relates the level and curvature of the smile
in implied volatilities as well as mispricing by the Black-Scholes model to net options order flows (to the market maker).
It is found that an increase in net options order flows (to the market maker) increases the level of implied volatilities
and results in greater mispricing by the Black-Scholes model, besides impacting the curvature of the smile. The liquidity
of the option market is found to be decreasing in the amount of uncertainty about future volatility that is consistent with
existing evidence.
This revised version was published online in June 2006 with corrections to the Cover Date. 相似文献
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