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2757 items in total found

Working Papers | 1978

Mean Variance Optimality Criteria for Discounted Markov Decision Process

Satia J K

The criteria of maximizing expected rewards has been widely used in Markov decision processes following Howard [2]. Recently considerations related to higher moments of rewards have also been incorporated by Jaquette [4] and Goldwerger [1]. This paper considers mean variance criteria for discounted Markov decision processes. Variability in rewards arising both out of variability of rewards during each period and due to stochastic nature of transitions is considered. It is shown that randomized policies need not be considered when a function of mean and variance (m - as) is to be optimized. However an example illustrates that policies which will simultaneously minimize variances for all states may not exist. We, therefore, provide a dynamic programming formulation for optimizing mi - asi for each state i. An example is given to illustrate the procedure.

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Working Papers | 1978

The Mediating Influence of Top Management Style on the relationship between External Environment and Organizational Structure: Test of Some Hypotheses

Khandwalla P N

Three styles of top management, labelled entrepreneurial, professional, and conservative, were empirically derived from cluster analysis of policies and practices data from a sample of companies. Eleven hypotheses were developed of the relationships between external environmental change and changes in certain dimensions of organizational structure, and the mediating effects of the three empirically derived styles on these relationships. A large number of predictions were supported. Implications of the findings were discussed.

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Working Papers | 1978

Concentration of Economic Power and Restrictive Trade Practices: Role of MRTP Act

Khurana Rakesh

This Paper reviews the historical background of public policy towards monopolies and restrictive trade practices, the development leading to enactment of MRTP Act in India and the impact which this Act has had on the concentration of economic power and restrictive trade practices. All the orders passed by the Government since the establishment of the Act till August 1977 in relation to concentration of economic power and all the judgements of the MRTP Commission delivered since the legislation of the Act till August 1976 have been analysed. Some results related to further concentration of economic power and role of MRTP Act, the arguments given by the applicants for approving their proposals regarding substantial expansion, establishment of new undertakings, amalgamation/mergers, acquisitions/take over as well as the arguments offered by government for approving or rejecting the proposal for the above, conditions imposed by the government while approving such proposals etc. have been reported. Some major dimensions of judgements of MRTP Commission in relation to restrictive trade practices and examination of cases of monopolistic trade practices have been outlines. Some suggestions for reorienting the MRTP Act to achieve its stated objectives and further research work needed in this area have been given.

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Working Papers | 1978

Management Training for Municipal Administration

Bhatt Anil

This paper, on the basis of some empirical evidence discusses some aspects of management applications and management training for municipal government. In particular it attempts to discuss the following questions: (1) What are the attitudes of the municipal officers towards modern management science? (2) How receptive they are to the idea of management training for municipal personnel? (3) What constraints and problems they see in this regard? (4) How do they perceive the overall environment which may have implications for management applications and training? (5) What should be the nature and scope of management training? (6) What preparation and rethinking would be needed on the part of management consultants and educators?

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Working Papers | 1978

International Trade in Textiles with Special Reference to South Asia

Wadhva Charan D and Mote V L

This study has been primarily concerned with the issues and perspectives on the historical evolution and working of the arrangements governing international trade in "textiles", particularly the last such arrangement, popularly called Multi Fibre Agreement (MFA). While the problems of both the developed and the developing countries in the field of world trade in textiles and their implications for structural changes in the pattern of a more rational international division of labour have been discussed, special attention has been paid to the problems of the developing "textile" exporting countries with special reference to the Southeast Asian countries. The study is divided into seven main sections. Section I provides an introduction and the approach adopted by this study. As a background to the problems to be studied, Section II highlights some recent trends in the growth of world textiles and clothing industries especially during the period 1970-75. Section III presents the historical evolution of the arrangements governing international trade in "textiles". The main features of design and organisational aspects of the MFA (especially the Textiles Surveillance Body) are discussed in Section IV. Section V provides an appraisal of the working of MFA. Section VI outlines a few suggestions for renegotiating the MFA which expired on December 31, 1977. The question of the desirability of the extension of the MFA approach to some other sectors is examined in Section VII. And summary & Conclusions of the Study are presented in Section VIII. A post-script contains some quick comments on the nature of the MFA which has been extended for the next four years.

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Working Papers | 1978

Impact of Inflation Accounting on Corporate Profits - A Study of 57 Indian Companies

Gupta Ramesh and Bhandari L C

The accounting profession all over the world is currently considering whether accountants should be required to adjust reported income for inflation. The limited objective of this article is to measure the impact of price-level accounting on reported profits and relevant financial ratios. The earnings of 57 companies covering 9 industries have been restated for a period of 7 years (1970-1976). The study shows that the impact of inflation on individual companies and industry groups varies greatly. The results with varying inflation rates emphasize the differential effects on companies of general price level adjustments and the significance of monetary gains and losses. The effects of restatement on dividend coverage and tax burden have been suitably highlighted.

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Working Papers | 1978

Accounting for Inflation - An Empirical Study

Gupta Ramesh

In recent years, there has been increasing criticism of financial statements prepared under the long-established cost conventions. The accounting profession all over the world has been debating various approaches to accounting for inflation. In this paper, we have attempted to restate the earnings of 57 companies adjusted for inflation and study its impact on relevant financial ratios. This article is in continuation to our earlier Working Paper No. 235.

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Working Papers | 1978

Research Reports - Publishing at What Cost and Quality?

Rao S Sreenivas and Srivastava Uma Kant

By using a better reproduction technology than duplication and by having a judicious mix of alternatives, an educational/research institution can produce better research reports than it does now and that too at a lesser cost. Better marketing and pricing of the reports will not only recoup the initial investment but will also help in atleast not losing money. Hopefully, better presentation and larger dissemination will provide an incentive to the researchers to improve the substantive quality of their output. Another contribution is the easing of the pressure on the demand for paper, which is of some national significance. The four criteria-speed, accuracy, presentability, and cost-on which the mix reproductive technology is justified for educational institutions are relevant to other organizations like government and business offices. The use of mixed technology by other organizations also will have substantial impact on reducing the reproduction costs. However, the four criteria could be better satisfied if supervisors of reproduction units, communication specialists, and layout artists constantly apply these criteria to each job on hand. The strategy of mixed technology will get a boost if the Indian manufacturers can fill up two gaps that exist in using such a mixture. The first gap can be filled by increased production, sales, and servicing of electric typewriters. If at a later stage, varitypewriters and justowriters coule be introduced, it would be a boon for small institutions which cannot incur heavy initial capital costs of having hot metal composition, and large organizations like the government and business offices, which cannot go in for outside composition for reasons of confidentiality and speed. The other gap can be filled in by producing automatic plats transference equipment for linking the chain in the process of transferring images from paper to metal masters for use on baby offset machines.

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Working Papers | 1978

Inflation Accounting in India - A Case Study of the Bharat Heavy Electricals Ltd.

Gupta Ramesh

In the last decade, a considerable amount of research has been done justifying the need to introduce inflation accounting in reporting the financial results of a business unit. In this paper, I have reviewed the recent developments in inflation accounting and the role played by the accounting professional bodies in the U.K. and U.S.A. The role of our two accounting bodies in India has been one of dismay. In reporting Current Cost Accounts, Indian corporations have not been very forthcoming either. The BHEL is the only company which has been keeping up with the international developments. In this paper, a detailed study of the BHEL Current Cost Accounts (CCA) for the year 1976-77 has been made. Each major item of the CCA is analysed in depth, evaluated in the context of ED-18 provisions. The various related issues are deliberated upon providing an appropriate conceptual framework. The BHEL CCA has been presented according to the provisions of "An Interim Recommendation" which came into force much after the publication of its 1976-77 annual report. In the last, the BHEL profitability on historical cost and CCA basis has been evaluated.

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Working Papers | 1978

Some Methodological and Practical Aspects of Accounting the Returns from Clearfelling Natural Forests in the Evaluation of Intensive Forest Development Projects

Gupta Tirath

The Forest Development Corporations (FDCs) in India have the responsibility of formulating and implementing intensive forest development projects for their respective areas. Since the FDCs operate on the lands currently under natural forests, it is important to decide on the procedure for handling the net returns from clearfelling the natural stands in the project area. The forest development projects prepared under the State Planning Programme included the net returns from clearfelling the natural forests with the benefit streams of man-made forestry. The National Commission on Agriculture, a n umber of foresters and economists have agreed with this procedure. The paper has summarised the arguments behind this procedure. These arguments have been examined and found inconsistent with the generally accepted practices of economic analysis. More importantly, the NCA appears to have contradicted itself while accepting the procedure used in the projects formulated under the State Planning Programme. Some real life problems that have arisen due to this procedure have also been discussed. As an alternative, it is suggested that the returns from natural forests on the project areas be treated as capital assets with the FDCs. The concerned State Government(s) may be deemed to have subscribed to the equity capital of the corporation(s) and when the natural stands are clearfelled and the returns received. This procedure is considered to be conceptually consistent and is expected to save some embarrasment to the FDCs.

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IIMA