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3725 items in total found

Working Papers | 1987

The Simplest Problem in Optimal Control Revisited

Lahiri Somdeb

In this paper, we define and study the simplest problem in optimal control theory, with differential inequalities determining the evolution of state variables. We prove necessary and sufficient conditions for optimality.

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Working Papers | 1987

Evaluation of Managerial Influence Tactics

Deepti Bhatnagar

The present study was undertaken to find out whether different influence tactics are evaluated the same way, or differently, in downward and upward exercise of influence; whether appropriateness and effectiveness constitute two different dimensions of evaluation; and whether the sex of the influence agent and the influence target affects the evaluation of influence tactics. Data were collected from 144 bank managers. Results showed that for influencing subordinates, many more tactics are seen as being highly appropriate and effective, than for influencing superiors. Appropriateness and effectiveness emerged as two different dimensions of evaluation. The sex of the influence agent had no effect on the evaluation of influence tactics; however, the sex of the influence target affected the evaluation of the appropriateness of different influence tactics. Implications of these findings are presented.

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Working Papers | 1987

Financial Goals: A Survey of Experiences in India

Pandey I M and Bhat Ramesh

The Study aimed to test the existence of multiple financial goals and to find the relative significance of the financial goals pursued by companies in India. A questionnaire was sent to companies listed in the Investors' Guide of Economic Times. Sixty one questionnaires were received back, of which fifty seven were found useful for analysis. The results of the study are: (1) Companies follow multiple financial objectives. The cumulative percentage of companies using two or more financial objectives is 100 per cent. (2) Out of the total respondent companies, only 19.3 per cent inter-alia consider maximization of market value per share in the financial decision-making. This objective is least considered in financial decision-making. (3) The overall rank ordering of the financial objectives suggest the following four objectives to be important: (a) maximization of operating profit before interest and taxes; (b) maximizing the rate of return on investment; (c) maximizing the growth rate in sales; and (d) ensuring that funds are available. (4) An international comparison of financial objectives reveal that 'guarantee funds are available' and 'maximization of EBIT' have been ranked very high in France, Norway and India. Unlike in France, Netherlands and USA, Indian managers do not consider growth in EPS of high importance. It is also indicated that Indian managers' views on financial goals are significantly correlated with that of France, Japan and Norway.

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Working Papers | 1987

An Economic Analysis of Food-Energy Sector: Implications for Subsistence Behaviour and Credit Policy

P. R. Shukla, Moulik T K, and Modak Shrikant

This paper presents economic analysis of food-energy relationship with implications for subsistence farmers; behaviour and credit policy. The analysis of the model formulated by Timmer is discussed. A model is formulated to study the food-energy relationship for subsistence farmers. Implications of availability of credit for purchasing inputs on the food-energy relationship is explored and results are presented.

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Working Papers | 1987

Efficient Market Hypothesis: Understanding and Acceptance in India

Bhat Ramesh and Pandey I M

Inspite of some empirical evidence in favor of the capital market efficiency in weak form and mildly in favor of semi-strong form, the capital markets participants allege that the market is excessively speculative and inefficient. The objective of this study therefore is to assess the extent of the users and preparers of accounting information in India are aware of the efficient market hypotheses (EMH) and accept the empirical findings on EMH in the Indian context. The research methodology used is he one developed by Mayer-Sommer. A questionnaire was sent to 600 preparers and users who were divided into four groups: (1) the chief financial executives; (2) academicians; (3) chartered accountants; and (4) cross-section of investors and brokers. One hundred and sixty questionnaires were returned duly filled in by the respondents. The analysis reveals that the various-category respondents deny the existence of market to be efficient in any of its three forms. It is important to note these findings relate only to attitudes and perceptions in the understand ing acceptance of EMH.

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Working Papers | 1987

Optimum Ordering Interval of Inventory with Random Price Functions: A Sample Path Analysis

Lahiri Somdeb

In this paper we extend the analysis of optimum ordering interval for inventory, carried out by Mukherjee(2), to incorporate random price schedules observed by firms. We obtain the expression for optimum cycle length by minimizing the expected total cost per unit time. In effect we carry out a sample path analysis. We also study the relationship between optimal interval and probability distributions in the polar case of constant decay rate and a Bernoulli probability measure.

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Working Papers | 1987

Workers and Management: A Socio-Historical Perspective

Parikh Indira J

This paper explores the changing patterns of relationships between workers and the management in industry over the last century and half. Three concepts are presented of worker-management relations. Mono-community of works the dual community, and the unified community. Each community has unique structure and relationships. The paper further explores the genesis of the three patterns and differentiates between the Indian and European pattern. It identifies some of the sources of conflict in the context of socio-cultural variables over a period of time. It is hoped that exploration of the socio-historical and developmental perspective may provide a better understanding and appreciation of the multi-faced phenomenon of worker-management relations. The paper suggests that the task ahead of worker-management relations is to create a setting where cooperative effort is unified in a system of belonging, where the roles are differentiated, where a sense of psychological security is generated and where both the organizational and individual goals acquire convergence and fulfillment.

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Working Papers | 1987

Causality Between Money and Price Level in India Revisited

Sharma Ram Lal

In this study we have used Granger's test of causality as interpreted by Sims and found out that causality is semi directional from money to price level. This conclusion is independent of the type of definition of money used and is valid whether we choose time period characterized by fixed exchange rate regime or flexible exchange rte regime.

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Working Papers | 1987

Industrial Conflict: Trends and Determinants

Verma Pramod

The objective of this study is to assess the growth of industrial conflict during the phases of economic development from 1921 to 1984 and to identify the economic and institutional factors which could have influenced conflict over this period. Three indicators of conflict, viz., industrial disputes, workers involved, and mandays lost, have been considered. Both trends and cycles have been identified. These differ for three sub-periods, 1921-38; 1939-60; and, 1961 to 1978. There are also differences for the three indicators. Nevertheless data indicate similar increase in conflict, with cyclical changes. The determinants of conflict also differed from one sub-period to another. In the first period, rising prices, and political events and trade union history were the leading factors. The second period was marked by the increasing influence of wages and consumer price index. For the third period, wages, inter-union rivalry, and political events explained the growth in conflict. The need for further research in economic and social history is indicated by the study.

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Working Papers | 1987

Social Movements: An Organization Theory Perspective

Chakrabarti Indranil

The paper first reviews the available literature on social movements (SM). Following emerge: (1) Classical literautre on SMs have missed out or tended to ignore the organizational aspects of SMs (Section I) (2) The more contemporary literature on SMs do have organizational focus; however, their theorization is based on an inadequate understanding of SMs and its relationships with the relevant organization. Further, they do not justify why and how the collectives in question qualify to be deemed as organizations (Section II) Section III attempts to rectify the above lacunas, and in the process provide a theoretical framework for SMs with due (and very important) place for organization theory. It puts forth the concept of social movement Kernel (SMK), the core of any SM, that guides and leads a SM. Section IV seeks to establish that the SMK is indeed an organization, by comparing SMKs with various definitions of organizations, borrowed from the standard works in organization theory. This opens a wide gamut of possible theorization on SMK, and hence also on SM, because of the close relationship between the two. A preliminary attempt towards this is made in Section V, where ten propositions are put forth, mainly relating SMKs to SMs. The last Section (VI) seeks to briefly highlight the likely usefulness of the study.

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