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3846 items in total found

Popular Press | 2022

Cargo drones and the future of logistics in India?(with Ajay Antony, Avi Dutt and Dr. Debjit Roy)

Sandip Chakrabarti

Times of India

Popular Press | 2022

Numbers and Beyond: Gender Equity in Corporate India at Board Level, (with Moksh Garg)

Promila Agarwal

Financial Express

Popular Press | 2022

Cargo drones and the future of logistics in India?(with Ajay Antony, Avi Dutt and Dr. Sandip Chakrabarti)

Debjit Roy

Times of India

Popular Press | 2022

How Different MSMEs Are Planning To Respond To Covid-19 Crisis?

Chitra Singla

BusinessWorld

Popular Press | 2022

The real victims of nativist labour laws? Low-income migrant workers

Chinmay Tumbe

Indian Express

Journal Articles | 2022

Generic competition and the incentives for early-stage pharmaceutical innovation

Lee Branstetter, Chirantan Chatterjee, and Matthew J. Higgins

Research Policy

What impact has rising generic competition had on the nature and direction of pharmaceutical innovation? We find broad-based, strong evidence that pharmaceutical companies have diverted their new drug development efforts away from therapeutic markets already well-served by generic drugs. We also find that increasing generic competition induces firms to shift their R&D activity toward more biologic-based products and away from chemical-based products. We conclude by discussing potential implications of our results for long-run innovation policy.

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Journal Articles | 2022

Impact of operational fragility on stock returns: Lessons from COVID‐19 crisis

Avijit Bansal, Balagopal Gopalakrishnan, Joshy Jacob, and Pranjal Srivastava

International Review of Finance

We examine how the market valuation of firms varies on account of their operational fragility that makes them vulnerable to the COVID-19 pandemic. Using the data on plant location that uniquely identifies the vulnerability of firms to operational disruptions, we find that firms with plants located in zones susceptible to higher infections earn significantly lower returns. For firms with high operational fragility, the marginal value of financial flexibility and operating flexibility is higher. The adverse impact of the operational fragility is lower for firms affiliated with the larger business groups. The paper identifies unique channels associated with the pandemic that impact firm value.

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Journal Articles | 2022

Big-4 auditors and audit quality: A novel firm life-cycle approach

Sonali Jain and Sobhesh Kumar Agarwalla

Meditari Accountancy Research

Purpose – Firm-specific factors such as size, profitability, growth, risk and complexity, in addition to agency-related issues determine both auditor selection and firm life-cycle stage. This paper aims to examine whether and how the effect of Big-4 auditors (B4As) on client firms’ audit quality varies across firms’ life-cycle stages. Design/methodology/approach – The sample comprises 1,813 firm-year observations in India’s emerging economy from 2011 to 2020. The Modified Jones model and Jones (signed, unsigned) model are used to compute discretionary accruals/audit quality. The authors use Koh et al.’s (2015) methodology to determine the firm life cycle. Findings – The authors’ key findings show that the client firms employing B4As have superior audit quality than those employing non-Big-4 auditors (NB4As). The authors also show that the life-cycle stage significantly impacts the relationship between B4As and a firm’s audit quality. Furthermore, B4A client firms report superior audit quality vis-à-vis NB4A firms only in the birth- and decline-stages. The audit quality of growth- and mature-stage B4A and NB4A client firms is not significantly different. Practical implications – Implications for managers include the decision to hire B4As. Given that B4As earn a significant fee premium, managers leading birth- and decline-stage firms should hire B4As, while managers of growth- and mature-stage firms should not. Originality/value – To the best of the authors’ knowledge, this is the first paper to examine the moderating effect of the firm life-cycle stage on the selection of B4As and their impact on audit quality.

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Journal Articles | 2022

Disentangling reciprocal relationships between R&D intensity, profitability and capital market performance: A panel VAR analysis

Amit Karna, Christos Mavis, and Ansgar Richter

Long Range Planning

Research and development (R&D) investments are strategic choices that firms make to create and sustain competitive advantage. Extant literature proposes that firms’ R&D investments and their profitability and capital market performance are reciprocally related. However, the direction of these relationships and their temporal nature are unclear. We take a real options perspective to argue that the long-run firm performance effects of R&D investments are better than their short-term ones, and that the initial level of R&D intensity influences the nature of these relationships. We apply panel vector autoregression (P-VAR) to a sample of 6623 U.S. firms over the 1990–2020 period in order to test our hypotheses. Our results indicate that increases in R&D intensity have negative effects on profitability in the short term, yet these effects diminish relatively quickly. The effects of increases in R&D intensity on capital market performance are positive and persist over time. Consistent with our predictions, they are contingent on the initial levels of R&D intensity and performance. The findings are fundamentally in line with the real options perspective employed here, yet they add important nuance to our understanding of when, how, and under which conditions R&D investments and firm performance affect one another.

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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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