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821 items in total found

Journal Articles | 2022

Imprinting effects of exposure to the Indian independence movement on export intensity of firms

Saikat Banerjee, Amit Karna, and Sunil Sharma

Journal of Business Research

Extending the concept of historical imprinting and organizational learning, we propose that the prior exposure to the Indian independence movement negatively influences the export intensity of firms. Firm-specific characteristics such as business group affiliation and entrepreneurial orientation act as dynamics of amplification and encourage to utilize the organizational learning gained from the historical imprinting. Business group affiliation strengthens the negative relationship between prior exposure to the Indian independence movement and export intensity. Entrepreneurial orientation strengthens the moderating effect of business group affiliation and prior exposure to the Indian independence movement on export intensity resulting in a three-way interaction effect. We test the hypotheses using panel data of 1,817 Indian firm-year observations for 309 firms from 2007 to 2016. We also discuss the theoretical and managerial implications of our findings.

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Journal Articles | 2022

Identity work at the intersection of dirty work, caste, and precarity: How Indian cleaners negotiate stigma

Avina Mendonca, Premilla D’Cruz, and Ernesto Noronha

Organization

Drawing from in-depth interviews of cleaners employed in the cleaning industry in India, the study examines the ongoing process of constructing a positive identity among dirty workers. Cleaners respond to the intense identity struggles emerging from caste stigma, dirty taint, and precarity by constructing ambivalent identities. Cleaners’ identity work is constituted by the very identity struggles they encounter, and their efforts to negotiate stigmatized identities further create identity tensions. Apart from accenting the paradoxical duality inhered in identity work, the findings show how caste/class inequalities are reworked in a neoliberal milieu and reproduced in identity construction processes. The findings call attention to caste as an important social category in organizational studies that has implications for work identities, dirty work, and precarious work.

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Journal Articles | 2022

Impact of review narrativity on sales in a competitive environment

Soumya Mukhopadhyay, V Kumar, Amalesh Sharma, and Tuck Siong Chung

Production and Operations Management

Online user-generated reviews have received significant importance in the literature as they help consumers make consumption decisions. However, despite significant developments in this domain in the past decade, little attention has been paid to how narrative aspects of reviews affect consumers’ consumption decisions and, consequently, influence sales. A narrative can be defined as a sequentially structured discourse that provides an understanding of the events that unfold around the narrator. Relying on the literature on narrative transportation, we examine the role of review narrativity in determining firm sales, the contingency effect of the competitive environment, and review polarity. Specifically, we propose that review narrativity has an asymmetric U-shaped (or, J-shaped) relationship with sales; the impact of review narrativity on sales would have significant positive interaction with the polarity of the review text; and that under high (low) competitive agglomeration, review narrativity would have a significant (insignificant) positive impact on sales. Operationalizing review narrativity using three different measures from a unique and rich dataset collected from OpenTable and using a Bayesian framework, consistent with our hypotheses, we find that the narrativity of textual reviews exerts a significant nonlinear impact on sales contingent on their polarity. Enriching the relatively nascent empirical literature on the effects of competitive context on eWOM, the current paper further offers clear empirical evidence that the impact of review narrativity on sales is significantly higher (lower) under a high (low) competitive agglomeration. The paper makes a methodological contribution by developing a flexible framework to identify the proposed relationships better while accounting for heterogeneity, endogeneity, and temporal patterns in the context of dynamic panels.

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Journal Articles | 2022

The impact of social reputation features in innovation tournaments: Evidence from a natural experiment

Swanand J. Deodhar and Samrat Gupta

Information Systems Research

This study examines how a change in an online reputation system, specifically the addition of a social reputation feature, affects contestant performance in innovation tournaments. Drawing from the literature on peer recognition and social evaluation anxiety, we project competing effects whereby the feature could either enhance or diminish contestant performance. Furthermore, we hypothesize a series of contingent effects involving the soft reserve, a competitive dynamic that unfolds in tournaments, and a determinant of performance in its own right. Specifically, we hypothesize that the direct influence of the social reputation feature on contestant performance would be predicated on the level of two types of soft reserves in an innovation tournament: that created by the focal contestant and that created by competitors. We test these hypotheses leveraging a natural experiment, where an innovation tournament platform (Kaggle.com) introduced a social reputation feature, allowing contestants to follow other contestants unilaterally. Estimates obtained using a panel data set bracketed within a narrow time window (15 days) around the feature launch reveal that the feature significantly improves the performance. We further report that the two types of soft reserves significantly moderate the positive effect of the social reputation feature on contestant performance, whereby the higher the soft reserve, the weaker the effect of the social reputation feature on contestant performance. These findings have several theoretical and practical implications for managing innovation tournaments.

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Journal Articles | 2022

How Do MNEs and Domestic Firms Respond Locally to a Global Demand Shock? Evidence from a Pandemic

Arzi Adbi, Chirantan Chatterjee, and Anant Mishra

Management Science

Global shocks bring unanticipated changes in the business environment of foreign multinational enterprises (MNEs) and rival domestic firms. We examine whether there is a difference between how MNEs and domestic firms react in heterogeneous local or subnational markets to a global demand shock. Leveraging the 2009–2010 H1N1 influenza pandemic as a source of exogenous variation in global demand for influenza vaccines, we investigate the role of subnational heterogeneity in economic resources, industry infrastructure, and political alignment within an emerging economy on the behavior of incumbent MNEs and rival domestic firms. We find that following the pandemic, MNE market share in the influenza vaccine market relative to the noninfluenza vaccine markets declines more in regions with lower government health spending per capita and also, in regions unaligned with the federal government. Additional analyses suggest that these changes in market share are not caused by a reduction in MNE revenues. Rather, they are caused by domestic firms that were already present in noninfluenza vaccine markets diversifying by entering the highly related influenza vaccine market. Finally, a granular examination of the differential responses reveals that such responses are not related to preshock differences in regional coverage of MNEs and domestic firms. This study contributes to the extant literature by suggesting that the direct costs or opportunity costs of new market and region entry are relatively greater for MNEs than for domestic firms, particularly in regions that have inadequate health infrastructure and are politically not aligned.

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Journal Articles | 2022

Women directors in corporate India, c. 1920–2019

Chinmay Tumbe

Business History

This paper provides a historical background of women’s representation on Indian corporate boards. It studies directory lists for benchmark years of the past century and other sources, to ascertain the trends and challenges over time. Women directors comprised less than 1% of all directors in the 200 leading firms of India until the 1990s, after which the share rose to 2% by 2000 and 5% in 2010. Due to a regulatory push in 2013, women’s representation on the boards of listed firms rose above 16% in 2019. The sharp reduction in board interlocks over time and the rise of public sector units, especially in banking, are some of the factors highlighted in bringing about more gender diversity in Indian corporate boardrooms before 2013. However, the principal mechanism through which women entered corporate boardrooms in India was through family ties, bound within specific castes and communities.

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Journal Articles | 2022

SEntFiN 1.0: Entity-aware sentiment analysis for financial news

Ankur Sinha, Satishwar Kedas, Rishu Kumar, and Pekka Malo

Journal of the Association for Information Science and Technology

Fine-grained financial sentiment analysis on news headlines is a challenging task requiring human-annotated datasets to achieve high performance. Limited studies have tried to address the sentiment extraction task in a setting where multiple entities are present in a news headline. In an effort to further research in this area, we make publicly available SEntFiN 1.0, a human-annotated dataset of 10,753 news headlines with entity-sentiment annotations, of which 2,847 headlines contain multiple entities, often with conflicting sentiments. We augment our dataset with a database of over 1,000 financial entities and their various representations in news media amounting to over 5,000 phrases. We propose a framework that enables the extraction of entity-relevant sentiments using a feature-based approach rather than an expression-based approach. For sentiment extraction, we utilize 12 different learning schemes utilizing lexicon-based and pretrained sentence representations and five classification approaches. Our experiments indicate that lexicon-based N-gram ensembles are above par with pretrained word embedding schemes such as GloVe. Overall, RoBERTa and finBERT (domain-specific BERT) achieve the highest average accuracy of 94.29% and F1-score of 93.27%. Further, using over 210,000 entity-sentiment predictions, we validate the economic effect of sentiments on aggregate market movements over a long duration.

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Journal Articles | 2022

Impact of price path on disposition bias

Avijit Bansal and Joshy Jacob

Journal of Banking & Finance

Recent experimental studies have illustrated the influence of price-path, particularly the `non-straight' price-path on several aspects of investor behavior. The paper computes a proxy for price-path based on Cumulative Prospect Theory and with investor- level high-frequency trade data from the commodities futures market, demonstrates that the nature of the price-path significantly impacts the degree of disposition bias, after controlling for the level of returns and volatility of the commodity. We find that the experience of a favorable (unfavorable) price-path, decreases (increases) disposition bias among the traders with Prospect Theory preferences. The decline (increase) in disposition bias is an outcome of the decline (increase) in the propensity for gain realization, accompanied by a concurrent increase (decline) in the propensity for loss realization among the traders. We conjecture that both investor preferences and beliefs about future price movement, inferred from the price-path experienced, influence their trading decisions.

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Journal Articles | 2021

Risk-sensitive Basel regulations and firms’ access to credit: Direct and indirect effects

Balagopal Gopalakrishnan, Joshy Jacob, and Sanket Mohapatra

Journal of Banking & Finance

This paper examines the impact of risk-sensitive Basel regulations on debt financing of firms around the world. It investigates how firms cope with the impact through adjustments to their financing sources and capital investments. We find that the implementation of Basel II regulations is associated with reduced credit availability for lower-rated firms. Such firms mitigate the shortage in bank credit through increased reliance on accounts payable, lower payouts to shareholders, and reduced capital investments. The impact of the capital regulation is lower in countries that rely on the internal ratings-based approach. The key results are robust to controls for banking crises, bank-specific controls, and the inclusion of loan-level information. The findings of this paper substantially contribute to the understanding of the real effects of risk-sensitive bank capital regulations.

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Journal Articles | 2021

Asymmetric political attention across foreign and domestic private equity real estate investors

Ashish Gupta and Prashant Das

Journal of Property Research

Private equity real estate (PERE) markets suffer from information inefficiency. In this study, we examine if Google Trends could help in partially mitigating the inefficiency issues. Using monthly PERE investment activities in India between 2005 and 2017, and controlling for macroeconomic variables, we show that relevant search trends are significantly associated with future investment activities. Compared to domestic investors, foreign investors are subject to information asymmetry and their investment activity is particularly sensitive to political search trends in the target country. We detect a mutually causal association between investment activity and political searches. Although significant, the effect of political Google Trends on investment activity is short-lived and fades within two months.

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