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3721 items in total found

Journal Articles | 2022

Work from home amenability and venture capital financing during COVID-19

Jagriti Srivastava and Balagopal Gopalakrishnan

Applied Economics

This paper examines the impact of COVID-19 on venture capital financing of firms. We find a significant shift in the profile of firms that obtain venture capital financing during the pandemic-induced economic crisis. Firms in industries that are more amenable to work from home obtain greater amounts of financing. Growth-stage firms operating in amenable industries are able to obtain higher financing than early-stage firms. The higher financing obtained by firms in amenable industries is driven by venture capital funds focused on the domestic market. Additionally, the higher financing is obtained from a single venture capital investor rather than a consortia of investors. Taken together, the preference of venture capital funds indicate a less risk-averse behavior in financing firms amenable to remote working. The findings of our study using monthly firm-level data provide insights on venture capital financing during the pandemic.

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Journal Articles | 2022

Pre-Kautilyan period: Crucible of pro-economic ideas and practices

Satish Deodhar

Annals of the Bhandarkar Oriental Research Institute

A number of studies have been conducted in the recent past throwing light on Kautilya’s contribution to economic policy. In his treatise Arthashastra, Kautilya informs that his contribution was based on received knowledge and gives credit to his predecessors. Unfortunately, the specialized works of the predecessors have been lost with the passage of time. I have attempted to scout and collate the economic notions that have appeared interspersed in the available Sanskrit treatises written prior to Arthashastra. Kautilya’s Arthashastra must have evolved from the crucible of such literature. In this context I discuss the four-fold classifications of purusharthas, ashramas, and varnas referenced in ancient texts and their attendant economic implications in the society then. I also cover the economic notions at the macro and institutional level which include policies of a welfare state, practical ideas about public goods, market facilitation, property rights, labour relations and unions, coinage, taxation, and budget deficit.

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Journal Articles | 2022

Prospect theory preferences and global mutual fund flows

Nilesh Gupta, Anil V. Mishra, and Joshy Jacob

Journal of International Money and Finance

We examine the influence of Cumulative Prospect Theory (CPT) characteristics of fund returns on investment flows with a cross-country data of equity mutual funds. We find that a larger CPT value of the style-adjusted past returns is associated with higher fund flows in the subsequent quarter. The impact is greater for retail-oriented funds, relatively younger funds, and those with higher active share. While funds that score high on the CPT value attract incremental fund flows, they earn a lower alpha than their peers in the following year. The sensitivity of fund flows to the CPT characteristics is higher in countries with greater individualism and short-term orientation. The results are robust to several additional tests and hold across various subsamples of our data. The findings imply that investors have misplaced expectations about the future performance of funds that show higher CPT values and the fund managers cater to these investor preferences.

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Journal Articles | 2022

A bilevel conic optimization model for routing and charging of EV fleets serving long distance delivery networks

Vignesh Subramanian, Felipe Feijoo Sriram Sankaranarayanan, Kevin Melendez, and Tapas K. Das

Energy

Recent unveiling of electric semi-trucks by a number of electric vehicle manufacturers indicates that part of the existing long-distance transportation fleets may soon be electrified. Operators of electric fleets will have to select travel routes considering charging station availability and cost of charging in addition to usual factors such as congestion and travel time. This requires combined modeling of transportation and electric power networks. We present such a model that considers interactions between the two networks to develop optimal routing strategies. The problem is formulated as a multi-objective bilevel conic optimization model. The upper level obtains the routing decision by minimizing a function of charging cost and travel time. The routing decision is used in the lower level that solves the AC optimal power flow model, using second order cone constraints, to determine nodal electricity prices. The model is demonstrated using a numerical problem with 24-Node transport network supported by a modified 5-Bus PJM network. The results show that our model yields optimal routes and charging strategies to meet the objectives of fleet operators. Results also indicate that the optimal routing and charging strategies of the electrified transportation fleet can support power networks to reduce nodal prices via demand response.

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Journal Articles | 2022

Routing and charging facility location for EVs under nodal pricing of electricity: A bilevel model solved using special ordered set

Sebastián González, Felipe Feijoo, Franco Basso, Vignesh Subramanian, Sriram Sankaranarayanan, and Tapas K. Das

IEEE Transactions on Smart Grid

We consider the problem of identifying optimal location of electric vehicle (EV) charging stations, while accounting for (i) route optimization and (ii) charging cost optimization by the EV fleets, where the electricity price is obtained endogenously by an optimal power flow (OPF) model. We solve the problem using a bi-objective bilevel programming framework with the objectives being one of minimising travel time and the other of minimising EV charging cost. The upper level problem consists of the facility location and the transportation model and the lower level problem consists of the OPF model. After reformulating this computational hard problem as a mathematical program with equilibrium constraints (MPEC), we solve the problem using a special ordered sets-type 1 (SOS1)-based approach. We record the significant improvement in speed by our method, as opposed to the standard Big-M approach. Finally, we apply the technique to the Sioux Falls transportation network with the IEEE 14-bus electricity network embedded on it. We observe that solutions through our models results in as much 37% lower operating costs for the EVs.

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Journal Articles | 2022

Work life balance indicators and Talent Management approach: A qualitative investigation of Indian luxury hotels

Sunil Buddhiraja, Biju Varkkey, and Stephen McKenna

Employee Relations: The International Journal

Purpose – The purpose of the study is twofold: (1) it captures the work–life balance (WLB) experiences of front-office employees to inductively classify a set of WLB indicators for the locally owned Indian luxury hotels and (2) it further examines the existing WLB practices of the select hotels with the lens of talent management (TM) approach of key human resource management (HRM) practices (Thunnissen, 2016). Design/methodology/approach – To explore and classify WLB indicators, an exploratory, qualitative approach is utilized by administering seven focus group discussions involving 70 front-office employees working in Indian luxury hotels. Seven in-depth interviews with HR professionals were triangulated with secondary data to capture and analyse the existing WLB practices of sampled organizations. Findings – Four clusters of WLB indicators that are grounded in the lived experiences of front-office employees are identified and presented. Interview data from human resource representatives unveil that hotels consider existing WLB practices as key HRM practices with an inclusive TM approach. The findings also surface the differences in expectations of front-office employees and WLB practices followed by the hotels. Research limitations/implications – First, the paper addresses the issue of WLB from employees’ perspective which is crucial for designing effective WLB practices. Second, the paper contributes to the existing TM literature from the perspective of WLB practices. Originality/value – The originality of the study is grounded in the employees’ lived experiences to classify the WLB indicators for India and further examine the WLB practices through the lens of the TM approach.

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Journal Articles | 2022

Impostor phenomenon and identity-based microaggression among hispanic/Latinx Individuals in Science, Technology, Engineering, and Mathematics: A Qualitative Exploration

Devasmita Chakraverty

Violence and Gender

Impostor phenomenon is defined as a psychological condition when some successful people do not fully ascribe their success to ability or competence, but attribute it to luck, generosity from others, or misjudgment, thereby experiencing an internal conflict. Microaggression is defined as subtle disparaging behavior that consciously or unconsciously discriminates people based on their background, personal identity, and group membership. Both impostor phenomenon and microaggression are commonly experienced in science, technology, engineering, and mathematics (STEM) fields, especially by women and BIPOC individuals—black, indigenous, or other person of color. Hence, the connection between microaggression and impostor phenomenon among BIPOC individuals needs deeper exploration. This qualitative study examined the research question: How do Hispanic/Latinx PhD students and postdoctorates in STEM describe impostor phenomenon and microaggression based on ethnic identity? U.S.-based participants were recruited using convenience sampling and snowball sampling. Semistructured interviews were conducted with 29 participants who self-reported experiencing impostor phenomenon. Interview transcripts were coded and analyzed inductively using constant comparison to develop themes. Twenty-two of the participants (18 women) experienced microaggression during training based on their Hispanic/Latinx identity. Microaggressive comments were made by faculty members, peers, and others in academia. Microaggression and impostor phenomenon were related through “othering” or feeling like outsiders, creating a sense of (un)belonging in STEM fields.

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Journal Articles | 2022

A two-stage integer programming model considering transaction equivalence for privacy preservation

Srikumar Krishnamoorthy

Computers and Operations Research

Preserving privacy is one of the fundamental requirements of firms that share data with their business partners for building advanced data mining models. Firms often aim to protect the disclosure of sensitive knowledge or information discovered during the data mining process. In this study, we investigate the problem of Frequent Itemset Hiding (FIH) which aims to hide sensitive itemset relationships present in a transactional database. We propose a two-stage integer programming model that maximizes the proportion of unaltered transactions in the sanitized database and protects sensitive itemset relationships. The model exploits the concept of transactional equivalence and significantly reduces the size of the FIH problem. In addition, our model enables the identification of solutions with minimal side effects. We conduct an experimental evaluation on both real and synthetic databases to show that our approach is scalable and produces a sanitized database with maximum accuracy. The generated solution is also found to have lower side effects (itemset information loss) compared to other state-of-the-art methods. Our experiments on very large problem instances show problem size reductions of one to three orders of magnitude. The proposed approach is quite attractive and practically useful for solving large-scale FIH problem instances and preserving privacy in increasingly shared and big data-driven organizational environments.

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Journal Articles | 2022

Informal land leasing in rural India persists because it is credible

Yugank Goyal, Pranab Ranjan Choudhury, and Ranjan Kumar Ghosh

Land Use Policy

While insecure property rights are considered ‘perverse’ with respect to development, we examine what are the features most amenable for their persistence. Applying a Credibility Thesis framework in the context of rural land tenancy relations in India, that are largely held through private arrangements, we try to understand if there are inherent preferences to the existing informal structure of land leasing. An in-depth primary household survey across four states of India reveals that farmers rely on customary, informal mode of leasing arrangements because of their functionality in terms of no paperwork, easy accessibility, swifter modes of payment and prompt conflict resolution. Informality makes the existing institutional arrangement ‘credible’ in the eyes of both the tenants and owners. This raises the questions of whether policy prescriptions on intricate land related issues should entail appreciation of prevailing informal tenant customs, regulating them, or simply letting them be and realign agrarian support and delivery systems around this embedded informality.

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Journal Articles | 2022

Globalization, cities, and firms in twentieth-century India

Chinmay Tumbe

Business History Review

This article explores the linkages between globalization, cities, and firms in twentieth-century India. Since the interwar period in the early twentieth century, India withdrew from the global economy, reintegrating only in the 1990s. This reshaped the metropolitan hierarchy in India in specific ways, whether through international migration and creation of new supply chains before 1991 or by foreign direct investment in the final decade of the twentieth century. Firms—both Indian and multinational—had to respond to different waves of globalization and accordingly made location choices that in turn shaped the urban evolution. More broadly, this article points to the relevance of integrating urban history more closely with business history in studies of globalization.

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