Factors influencing the adoption of ICT tools in Kerala marine fisheries sector: an analytic hierarchy process approach

Adoption of a new ICT tool in the fisheries sector depends on several factors such as ease of use, affordable cost, information, and time. All these factors determine the preference of an existing tool over others for productivity enhancement. Which ICT tool is more beneficial than others is a continuing debate among researchers. However, the literature currently lacks detailed studies of fishermen criteria for selecting the best ICT tools in the marine fisheries sector. This paper is based on a framework which explains the factors influencing the adoption of ICT tools for the better fish catch, with the help of a multi-criteria decision making approach, called Analytic Hierarchy Process. Also, in the study we have compared the results of analysis using AHP with popular method TOPSIS and the obtained results were validated. The Study also assesses scientifically, which is the most important ICT tool for fishing through a case study in Northern and Southern parts of Kerala, a state in the southern India. The Study finds that Global Positioning System (GPS) is the most beneficial and important ICT tool in marine fishing. In contrast to the earlier studies, the results show that wireless set is important than other tools like mobile phone and echo-sounder for multi-day fishing. The cost-benefit analysis also supports findings of the study.     

Are exchange rates interdependent? Evidence using wavelet analysis

We examine the co-movement in daily returns of USD–INR, EUR–INR, GBP–INR, and JPY–INR currency pair futures contracts traded on the National Stock Exchange of India (NSE) using the wavelet cohesion approach. This study contributes to the literature by examining the scantly studied area of co-movement in exchange rates and using the wavelet approach, which allows us to analyse time–frequency-wise co-movement of the time series. The empirical results indicate that the currency futures markets are nearly perfectly integrated in the long run (monthly, quarterly and biannual scales) offering little potential gains from international portfolio diversification. The discrepancies between currency futures markets are small and almost fade away within 3–6 months. Moreover, international currency diversification might offer relatively higher potential gains at intraweek, weekly, and fortnightly time horizons owing to lower correlations among the currencies under consideration. Finally, our multiple-wavelet correlation and cross-correlation analysis shows that GBP acts as a potential leader/follower across scales. The results of our analysis indicate the dynamic pattern of co-movement among the major currency futures contracts, which provides several implications for portfolio managers and international investors participating in the Indian market.     

Marketing’s roles in innovation in business-to-business firms: Status, issues, and research agenda

A project funded by the Institute for the Study of Business Markets to develop an understanding of the current state of business-to-business marketing and a research agenda for the field identified a lack of understanding of how the marketing function can or should best contribute to firms’ innovation efforts as the top priority. A workshop of senior academics and research-oriented practitioners explored this topic further, identifying four specific themes: (1) improving customer needs understanding and customer involvement in developing new products, (2) innovating beyond the lab, (3) disseminating and implementing research findings in firms, and (4) marketing’s overall role in innovation. This article defines these themes, sketches the current status of knowledge about each theme, frames practitioners’ issues with them, and proposes research agendas for each theme to move the field forward. The goal is to encourage rigorously executed academic research that can also help firms innovate more successfully.     

Temporary stabilization with capital controls

This paper studies both positive and normative aspects of quantity-based capital controls in a small open economy undergoing a temporary inflation stabilization plan. In the model, capital controls are implemented by choosing two policy variables: a ceiling on the private sector debt and a terminal date for removing controls; the date on which controls trigger and hence its duration are endogenously determined. Equilibrium dynamics are characterized for all feasible range of debt ceilings and durations. Temporary controls that end with the collapse of the stabilization plan are shown to mitigate consumption boom-bust cycles and dominate allocations under perfect capital mobility, thus providing a “second-best” rationale for employing them. For controls that are prolonged beyond the collapse of the stabilization plan, equilibria exist even when the debt ceiling is above the debt that accumulates under perfect capital mobility. Here, if the ceiling is sufficiently low, controls mitigate consumption cycles. Conversely, a sufficiently high ceiling amplifies consumption cycles. For prolonged controls, there is a critical value of debt ceiling below (above) which the welfare is higher (lower) relative to the perfect capital mobility case. Finally, for a given debt ceiling, prolonged controls rank lower in welfare than those that end with the stabilization plan. We would like to thank two anonymous referees and the editor whose suggestions have helped us improve the paper substantially. The usual disclaimer applies.     

Retailers' major ethical decision making constructs

The major constructs of the Ferrell and Gresham [Ferrell OC, Gresham L. A Contingency Framework for Understanding Ethical Decision-Making in Marketing. J Mark 1985; (Summer): 87-96.], Hunt and Vitell [Hunt SD, Vitell S. A General Theory of Marketing Ethics. J Macromark 1986; 6 (Spring): 5-16.], and Ferrell et al. [Ferrell OC, Gresham L, Fraedrich JP. A Synthesis of Ethical Decision Models for Marketing. J Macromark 1989; 9(2) (Fall): 55-64.] models were tested using LISREL. Our findings suggest that Friends, Superiors, Business Associates, and Formalization of the Organization are more significant than Moral Philosophy. A new construct Ethicalness, comprised of individual, organizational, and societal value structures yielded a tight multi-dimensional fit that supports Kerlinger's domain theory and is dissimilar to Reidenbach and Robin's (1991) multi-dimensional scale. This research is one of the first to test as many ethical decision making constructs while explaining the multi-dimensional conundrum of ethical/unethical and legal/illegal practices within retailing.     

Shall One Sit “Longer” for a Free Lunch? Impact of Trading Durations on the Realized Variances and Volatility Spillovers

This study examines the effect of trading durations on the realized variance of rupee futures traded in national stock exchange (NSE), India and Dubai Gold & Commodities Exchange (DGCX), Dubai as there exists a difference in the trading durations at these exchanges, where DGCX has longer trading duration. The empirical results suggest that longer trading duration has significantly higher realized variance, and also non-trading durations at NSE account for higher overall realized variance of Rupee Futures. We model the impact of trading durations on intraday and overnight realized variance for rupee futures and estimate a reduced realized volatility of 40–70 bps due to shorter trading duration. We find that non-trading durations at National Stock Exchange account for 60–70% of the overall realized variance of rupee futures. Using MGARCH model with BEKK parameterization, we find evidence of bidirectional volatility spillover from Offshore to Onshore Rupee markets.

     

Properties of shrinkage estimators in linear regression when disturbances are not normal

This paper considers a class of recently developed biased estimators of regression coefficients and studies its sampling properties when the disturbances are not normally distributed. It has been found that the conditions of dominance of these estimators over the least squares estimator, under non-normality, are quite different than their well-known dominance conditions under normality. Some implications of the results are also discussed.     

Corporate Governance in India

The Indian corporate governance system has both supported and held back India's ascent to the top ranks of the world's economies. While on paper the country's legal system provides some of the best investor protection in the world, enforcement is a major problem, with overburdened courts and significant corruption. Ownership remains concentrated and family business groups continue to be the dominant business model, with significant pyramiding and evidence of tunneling activity that transfers cash flow and value from minority to controlling shareholders. But for all its shortcomings, Indian corporate governance has taken major steps toward becoming a system capable of inspiring confidence among institutional and, increasingly, foreign investors. The Securities and Exchanges Board of India (SEBI), which was established as part of the comprehensive economic reforms launched in 1991, has made considerable progress in becoming a rigorous regulatory regime that helps ensure transparency and fair practice. And the National Stock Exchange of India, also established as part of the reforms, now functions with enough efficiency and transparency to be generating the third‐largest number of trades in the world, just behind the NASDAQ and NYSE. Among more recent changes, the enactment of Sarbanes—Oxley type measures in 2004—which includes protections for minority shareholders in family‐ or “promoter”‐led businesses—has contributed to recent increases in institutional and foreign stock ownership. And while family‐ and government‐controlled business groups continue to be the rule, India has also seen the rise of successful companies like Infosys that are free of the influence of a dominant family or group and have made the individual shareholder their central governance focus.     

Navigating Residue Sensitivity in the Used Goods Marketplace

How does a previous owner's contact with used goods affect consumer judgments of these objects? This research identifies a trait measure of sensitivity to the residue of another's essence or taint found in a used possession. Those highly sensitive to residue respond to the transfer of contaminants from a previous owner of an object. Six samples in Study 1 show that residue sensitivity is a reliable and valid measure that is related to constructs of possession attachment and disease transfer. Still, residue sensitivity explains consumer behavior in the secondhand marketplace in ways that these existing constructs do not. Studies 2 and 3 illustrate how consumers highly sensitive to residue shift their judgments of secondhand goods according to information about the valence of a source of prior ownership.