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2757 items in total found

Working Papers | 2003

Performance of Single Pass Earth-Tube Heat Exchanger: An Experimental Study

Girja Sharan and Jadhav Ratan

A single pass earth-tube heat exchanger (ETHE) was installed to study its performance in cooling and heating mode. ETHE is made of 50 m long ms pipe of 10 cm nominal diameter and 3 mm wall thickness. ETHE is buried 3 m deep below surface. Ambient air is pumped through it by a 400 w blower. Air velocity in the pipe is 11 m/s. Air temperature is measured at the inlet of the pipe, in the middle (25 m), and at the outlet (50 m), by thermisters placed inside the pipe. Cooling tests were carried out three consecutive days in each month. On each day system was operated for 7 hours during the day and shut down for the night. Heating tests were carried out at night in January. Test results are presented in summary form for each month. Detailed analysis is presented for two months only -- May for cooling and January for heating. ETHE cools the ambient air in May by as much as 14oC. It heats the ambient air in January nights also by similar amount.

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Working Papers | 2003

Rewarding Conservation of Biological and Genetic Resources and Associated Traditional Knowledge and Contemporary Grassroots Creativity

Anil K. Gupta

The traditions of creativity, conservation and innovation exist in various developing countries along side the continuation of obsolete or inefficient technologies and resource use practices. At any point of time, one would notice certain resource use practices continuing in almost the same form with very little change for more than a millennium, few hundred years or few decades. However, such a situation coexists simultaneously with the spurts of contemporary creativity using traditional biological and genetic resources. This creativity manifests in the traditional ways of using an existing resource with a new purpose in mind or in a modern way (that is using modern techniques or tools) for meeting a contemporary need. There has been a widespread concern that erosion of traditional knowledge is as serious a problem as erosion of biological and genetic diversity. While there are many reasons for this erosion such as expanding physical and urban infrastructure, increasing incorporation in market economies, weakening link between grand parent and grand children generation, higher emigration of youth from rural areas, faster diffusion of modern crop varieties (largely developed by public sector for public domain use during green revolution), diffusion of few biological species under monoculture in forests, fisheries, and other sectors, and reduced control of local communities on their own resources. Indifference of public policy makers in various countries towards the positive aspects of certain Traditional Knowledge Systems (TKS) including community institutions for conservation, exchange and augmentation of biological diversity have also contributed to this erosion. It is ironic that many countries complain about unfair treatment of TK and genetic resources in the international markets (and rightly so) but take very few steps to stop similar exploitation in domestic markets. In addition to these factors one factor, which contributes significantly, though not entirely is the lack of adequate mix of incentives for conservation of biological genetic resources and their sustainable utilization and augmentation. These incentives could be material or non-material, targeted at individual, groups or communities. It is my submission that a portfolio of incentives will need to be evolved, suited to specific situations and conditions. However, in this volume we restrict to the role of one specific set of incentives dealing with different kinds of intellectual property aimed at protecting the interests of and innovations by, individuals and or communities. While evaluating the scope of existing intellectual property instruments I will also speculate on the modifications of these instruments as well as generation of new instruments and mechanisms to meet the goal of conservation, sustainable utilization, augmentation and fair and just share of benefits among different stakeholders.

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Working Papers | 2003

A Choice Modeling Approach to Evaluate Effectiveness of Brand Development Initiatives.

Arindam Banerjee, Awasthy Dheeraj, and Gupta V

We describe the application of a nested logit function for modeling brand choice using household transaction data from the Indian market. This is unique since it is one of the first attempts to integrate disparate consumer information sources available at various levels of aggregation towards developing a prediction model for brand market share. We further develop a methodology for brand market share decomposition into components that can be attributable to various explanatory variables. The implications are significant since this methodology helps in using behavioral tracking data towards developing a decision tool to evaluate marketing programs.

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Working Papers | 2003

Economic Fluctuations and Stabilizing Policies

Gupta G S

The paper discusses the extent and spread of economic fluctuations across selected countries during the Great Depression and the last over 40 years. Also, it analyses the possible causes of each major business cycle, the roles that the fiscal and monetary policies have played to counter them, and the inherent limitations of these policies in getting a total rid of all such fluctuations.

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Working Papers | 2003

Prevention of Insider Trading and Corporate Good Governance

Parekh Sandeep

With the discovery of massive frauds in the Indian and International capital markets, regulators and legislatures have increasingly turned towards making corporate governance standards mandatory and have attached penalties to violation of these corporate governance guidelines. This paper questions the necessity for associating corporate governance in the insider trading context with penal provisions in India. It makes suggestions for the removal of these penalties and instead let the markets decide whether to penalise companies which do not have these process oriented safeguards in place. The paper also recommends introduction of certain substantive and procedural regulations/standards for reduction of the incidence of insider trading in companies.

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Working Papers | 2003

Strategic Alliances in the Global Airline Industry

A. Goel

Strategic alliances are common to any industry. Their presence is felt quite significantly in the airline industry. Starting in the US in 1978 deregulation of airline industry has since brought about sea changes in functioning of the industry. This paper attempts to understand the developments and strategic alliances that have occurred in the airline industry since deregulation. These strategic alliances exist in various forms and differ widely in scope and no consensus on classification was found. The advantages and disadvantages of strategic alliances with respect to the airline industry have been discussed. It is felt that the industry is getting increasingly concentrated. However, no conclusive remarks can be made about consumer welfare.

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Working Papers | 2003

Strategic and Financial Attributes of the E-Commerce Firms: An Empirical Study

Pandey I M

E-commerce firms either sell physical products or information-based products or services. Consistent with the theory, the findings of this study confirm that the information goods/service-based business model has a better or higher valuation (price-to-sales ratio or PSR) compared to physical goods-based model. However, the valuation gap between both types of business models reduced over years and became insignificant in the year 2001, which is the year after the dot-com meltdown. Further, we do not have any evidence of a difference in their strategy of spending on sales and marketing activities. The results of the study do confirm that young E-commerce (irrespective of the business model) start-ups tend to spend a larger percentage of their capital on marketing and advertising activities than the relatively older firms. This is consistent with their strategy of building brands on the Internet so as to capture the first-mover advantage, which is critical for the Internet technology-based E-commerce companies. We find a negative relationship between marketing expense-to-revenue ratio and profit margin. The study does not reveal a significantly strong relationship of price-to-sales ratio with size, or marketing-to-revenue ratio, or profit margin. It appears that PSR is driven by non-financial considerations.

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Working Papers | 2002

A Deciosion-Oriental Market Information System for Forest and Agro-Forest Products in India

Vasant P. Gandhi

There has been a sharp rise in the demand and prices of forest and agro-forest products in India. Yet many agencies report large unsold stocks of different products. Large processors are unable to get sufficient quantities of raw materials, but forest product producers and gatherers often cannot sell what they have produced. This is indicative of a frequent mis-match between supply and demand of different forest products, and is believed to be substantially due to lack of good market information with both suppliers and buyers for correct decision-making. This study, based on primary survey data, first identifies the decision-making needs of different players in the market for forest products. It then develops, based on the study and a conceptual framework, a decision-oriented market information system for a selected set of forest products. The information system to be enabled by computers and internet will source market information locally as well as nationally and internationally. It will process and analyze it, and disseminate it widely to private and public agents including gatherers, growers, processors, traders, buyers, and government decision- makers. If implemented well, it will lead to better information with the agents and good decision-making, which will help to reduce, locally and nationally, the mis-match between supply and demand.

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Working Papers | 2002

Fruit and Vegetable Marketing and its Efficiency in India: A Study of Wholesale Markets in the Ahmedabad

Vasant P. Gandhi and Namboodiri N V

There has been great concern in recent years regarding the efficiency of marketing of fruits and vegetables in India. It is believed that poor efficiency in the marketing channels and poor marketing infrastructure leading to high and fluctuating consumer prices and only a small portion of the consumer rupee reaching the producer farmers. This paper examines these aspects in regulated wholesale markets for fruits and vegetables in Ahmedabad City area. These regulated markets were established to improve the marketing efficiency. The system of sale followed in these markets indicated that open auction as a system of sale is yet to take roots in these markets and the marketing system was dominated by open auction or secret bidding resulting to significant erosion of marketing efficiency. Analysis of marketing costs indicated that on an average they hover around 8 percent of the consumer price for vegetables 11 to 15 percent for fruits. On an average the share of farmers in consumer rupee was hardly 48 percent for vegetables and 37 percent for fruits. The study suggests that regulated wholesale markets can help in improving the marketing efficiency by promoting direct contact with the farmers, increasing the number of buyers and sellers in the market, promoting open auction system of marketing and strengthening or introducing facilities and services such as go-down, cold storage, transparency and access to internal and external market environment.

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Working Papers | 2002

Stock Return Seasonality in the Emerging Malaysian Market

Pandey I M

This study investigates the existence of seasonality in Malaysias stock market. The study uses the monthly return data of the Kula Lumpur Stock Exchanges two indices - Composite Index and EMAS Index. After examining the stationarity of the two returns series, we specify a combined time series and regression model to find the monthly effect in stock returns. The study reveals evidence of the existence of seasonality in stock returns in Malaysia. The coefficients for several months are statistically significant. The average return for December is positive, and it is statistically significant in case of the Composite Index. A positive December return rules out the tax-loss selling hypothesis. In Malaysia there are no capital gain taxes for both resident and non- resident investors. The evidence of seasonality implies that the Malaysian stock market is not informationally efficient. Hence, investors may be able to time their share investments to improve returns.

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