Designing retail stores to maximize visual experience

The physical layout of a retail store is known to influence the stimuli and behavior of shoppers, eventually affecting their personal experience and store performance. This talk will focus on the visual stimuli of a shopper and address the following questions: (i) how to quantity visual experience of a shopper moving through a store?; (ii) how is this affected by the angles at which the racks are placed?; and (iii) which racks angles maximize visual experience? To this extent, we introduce a set of visual-spatial statistics comprised of visual measures (exposure and intensity) and spatial measures (space and aspect ratio). We present an approach to capture the dynamics of a traveling shopper’s field of vision against a static rack layout. We illustrate the use of our approach to analyze a real-store layout from a mass merchandiser in our region. We then introduce the retail rack layout problem, which determines the optimal single or multi-column rack angles in a constrained space in order to maximize exposure to the shopper. Results indicate that exposure can be increased by 18-226% over 90°-rack layouts with angled-racks (acute or obtuse from shoppers travel path) and that this exposure increase is sensitive to the shopper’s field of regard (angular limit and depth of vision). Finally, we will share our ongoing work on validating our models via a human subjects study in a 3D virtual store section. We believe our findings will provide quantitative evidence of the sensitivity of exposure to the characteristics of the shopper, confirming that there is no such thing as a one-size-fits-all approach to retail design.

  • Prof. Pratik Parikh, Wright State University, Dayton, OH (USA)
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  • 2017-03-07

The US-China Business Relationship - Bi-Polar or the Two Pillars of a Stable World Economy - With Implications for India?

This is more of a policy-oriented presentation discussing the extent of trade and FDI involvement between the US and China and what is at stake in the relationship in terms of money, jobs, manufacturing competitiveness, benefits and costs to the US consumer from Chinese imports, and the transition taking place in the Chinese economy. I have added implications for India. This presentation would be of interest to a wider audience and elicit questions and reactions to Don Trump's presidency.

  • Prof. Farok Contractor, Rutgers University
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  • 2017-03-06

What is Impactful Research?

As researchers, we continue to do research in areas which appear to have buzzwords or perpetuated by researchers from so-called top universities or by so-called top researchers from other universities. There is a need for serious introspection into why we do research on topics we choose; how do we choose topics; and how do we measure the impact of our research. Usual metrics for the impact of our research are number of citations, journals published in, and lately impact factor and number of reads. We need to understand and comprehend our research topics/themes and their short term and long term impact on academia, industry, government, and society at large. This seminar is intended to be as much interactive as possible.​

  • Dr. Shailendra C. Palvia, Long Island University, New York
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  • 2017-03-03

Are Subsidies on Drip Irrigation Working? Evidence from Gujarat?

Subsidies on technologies that reduce environmental externalities are popular with policy makers in developing countries. However, given "investment inefficiencies" and the multiple other factors potentially inhibiting take-up in developing countries, it is not clear whether subsidies succeed in increasing adoption, especially among the poor. We conduct an analysis of India's subsidy program for drip irrigation, intended to reduce pressure on rapidly depleting water resources by millions of small-scale well-owning farmers. Using spatially detailed data on hundreds of thousands of adopters in the state of Gujarat, we find that increases in the subsidy rates substantially increase take-up, but do not seem to expand adoption to farmers with smaller land holdings.

  • Prof. Ram Fishman, Assistant Professor of Public Policy, Tel Aviv University
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  • 2017-02-21

Development Conflicts We Know Nothing Of

The typical narrative of development conflict is of a rapacious industry that is unwilling to share the gains of development with people affected by projects and, instead, prone to paying off politicians, bureaucrats and police officers to get achieve ‘compliance’ with the law of the land on land acquisition and environment.

  • Prof. Rohit Prasad, MDI Gurgaon
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  • 2017-02-08

Selection of Inputs and Outputs in Data Envelopment Analysis

Productive efficiency lies in producing the maximum output from a given bundle of inputs or using the minimal input for a target bundle of outputs. The method of Data Envelopment Analysis (DEA) introduced in the OR/MS literature in the late 1970s and subsequently refined and extended over the decades has become a popular analytical device for measurement of efficiency. However, in many empirical applications inadequate attention is paid to the selection of inputs and outputs. Production is the process of creating value through transformation of inputs into outputs. It is important to ensure that the resources defined as inputs in a specific context do in fact contribute to the outcomes treated as outputs. In this paper we start with the scope of decision making by the producer to define the 'boundary' of the firm. This enables us to distinguish inputs (resources that enter into the jurisdiction of the firm from outside) and outputs (that get out of the boundary and are not subject to further processing by the firm). We visualize a firm as a vertically integrated organization with sub-centers of decision making at different stages of production. This allows us to differentiate an intermediate output (or a throughput) from a pure output or input. We discuss the appropriate choice of inputs and outputs in different areas of empirical application including manufacturing, banking, education, and health care. Special attention is paid to the treat of undesirable outputs (like pollution and industrial waste) in DEA. Finally we consider contextual or environmental variables that affect production but are not subject to manipulation by the producer.

  • Prof. Subhash C Ray, University of Connecticut
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  • 2017-01-09

Indian Brand of Crony Capitalism: The Cultural Underpinnings

One grave concern that the Indian economy/society face today is that of ubiquitous corruption/cronyism. Despite its importance, there is dearth of scholarly treatment of this phenomenon. In this presentation, we examine the cultural underpinnings of corruption/cronyism in India. There are four cultural dimensions that are pertinent to understanding Indian brand of cronyism and its prevalence: individualism-collectivism, verticalness-horizontalness, universalism-particularism, and ascription-achievement. In a collectivistic culture like India, interpersonal relationships are the basis of exchanges between one member and the other rather than formal rules/structures. Verticalness (high power distance) of Indian culture implies that people in power give preferential treatments to their in-groups at the expense of the out-groups. The ascription-orientation of Indian society means that status is not earned but ascribed to individuals based on family, gender, position, age, and other such factors, thereby undermining consideration of merit, achievement, and performance. According to the fourth cultural dimension, Indian society is high on particularism and low on universalism. A society high on universalism emphasizes universal laws, rules, and contracts, but in a particularistic culture, contracts, laws, and rules take a back seat to relationships between individuals. The outcomes of such a unique Indian cultural milieu (collectivistic, vertical, ascriptive, and particularistic) include inequality of influence, subversion of law, and poor enforcement of law. Further this cultural milieu in combination with Indian economic philosophy and history give rise to the unique brand of crony capitalism that we see in India today.

  • Prof. Naresh Khatri, University of Missouri, Columbia
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  • 2017-01-06

Art and science of financial analysis using simple cases

In my own teaching experience at top business schools, I have found that the MBA curriculum often lacked the one class that brings together knowledge from diverse areas such as accounting, economics, finance, production and marketing to analyze and solve business problems. While students understand different subjects/topics pretty well in isolation, they often cannot see how they are connected, or how to integrate knowledge from different areas to analyze and solve unstructured problems. Then there is this elusive quality called intuition which cannot be taught! For many years, I have been trying to teach a class that not only integrates different subjects usually taught in a business school (the science part), but also show how intuition (the art part) plays a significant role in solving problems. The aim of this lecture is to introduce you to some of my ideas through short cases in financial analysis.

  • Prof. Suresh Govindaraj, Rutgers Business School- Newark and New Brunswick, Rutgers University
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  • 2017-01-04

Is CEO Pay Related to Performance in the U.S. Hospitality Industry?

Due to the unique nature of the hospitality industry that entails higher competition, ease of entry and exit of firms, and geographic diversification, we hypothesize that CEO compensation in the hospitality industry will be higher and will also have higher pay-for performance sensitivity than in other industries. Using a comprehensive sample of firms in the hospitality and tourism (HT) industries, we find that CEO compensation depends upon firm size, Tobin’s Q, and CEO tenure. In addition, we find that compensation of HT firm CEOs is very sensitive to performance, using both measures- stock returns and return on assets. Interestingly we also find that HT firm CEOs earn as much as non-HT firm CEOs although HT firms are much smaller and underperform non-HT firms. Implications for theory and practice are discussed.

  • Prof. Manisha Singal, Pamplin College of Business, Virginia Tech University
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  • 2016-12-27

Stock Picking - Insights from academic research

Despite the importance of the banking sector to the economy, prior valuation studies in accountinghave tended to generally discard bank stocks. We examine returns to a fundamental analysis based trading strategy for the U.S. bank stocks, using a bank fundamentals index (BSCORE) based on thirteen bank specific valuation signals. A long–short strategy based on BSCORE yields positive hedge returns for all but one year during the 1994–2013 period. Results are robust to partitions based on size, analyst following and exchange listing status, and persist after adjusting for known risk factors. Interestingly, we observe especially strong hedge returns during the 2007-2009 financial crisis. We further document a positive relation between BSCORE and future analystforecast surprises, earnings announcement period returns, and future performance-based delistings. Finally, the results are significantly enhanced if we combine the BSCORE strategy witha relative valuation strategy based on an intrinsic value approach. The results show that fundamental analysis can provide useful insights for analyzing banks, beyond the usual focus on metrics such as return on equity (ROE).

  • Prof. Partha S. Mohanram, Rotman School of Management, University of Toronto
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  • 2016-12-22

Logistics, the human factor

As every manager knows, people are important to achieve operational excellence. The decisions and behavior of leaders impact the behaviors of employees which are instrumental in obtaining high performance. Still, in operations management research, we largely rely on models that help to optimize managerial decision making and in which people do not really play a role. Behavioral operations management is still at its infancy. It tries to include manager or employee behavior as an explanatory variable in performance. In my presentation I will give examples of some recent research projects, focusing on performance in warehouses. Depending on time, I will look into (1) behavioral factors that can bring down the number of work-related accidents in warehouses, (2) the direct and interaction effects of incentives and worker characteristics on performance in a warehouse, and (3) the impact, and managerial use, of worker skills on order pick performance.

  • Dr. Rene (M.) B.M. de Koster, Rotterdam School of Management, Erasmus University
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  • 2016-12-16

Does Health Influence Risk Preference?

This paper investigates whether self-assessed health (SAH) status - a measure of health stock - influences the risk preference of an individual. Using the National Longitudinal Study of Adolescent Health (Add Health), we estimate that better health during adolescence is associated with more willingness to take risks when people are around age 30. Moreover, the experience of a reduction in their health stock between adolescence and young adulthood is even more strongly associated with willingness to take risk later in their lives - a finding that provides a novel pathway through which individual’s loss aversion gets operationalized. These findings are robust to regression specifications- linear probability, fixed effects, and generalized ordered logistic regression models - as well as to the inclusion of exogenous personal characteristics - variables that are shown to be related to both health and various measures of risk in the existing literature. Our findings remained robust even after including two heritable measures of personality - neuroticism and conscientiousness - that could have bearing on both health and risk preference. These findings are quite pertinent in building a better understanding of the processes that govern deepening of the market mechanism and the processes leading to policy formation. If similar findings hold for older populations, then it potentially establishes a link between health and the future of financial markets and the pace of change in policy regimes.

  • Dr. Sanjeev Kumar, Yale School of Public Health, Yale University, USA
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  • 2016-12-16

A Framework Model on MNE's Impact on Global Development Challenges in Emerging Markets

MNEmerge is a three-year (2014-2016) collaborative research project funded by the EU's Seventh Framework Programme for research, technological development and demonstration under Grant Agreement No. 612889. The project aims to provide a comprehensive framework for understanding the impact of multinational enterprises on United Nations Millennium Development Goals in developing countries by using case studies, quantitative data as well as policy analysis. The project's research team studies how MNEs manage their activities in FDI, business functioning, technology and innovation strategies, corporate philanthropy or socially responsible investments and how these issues can contribute to the attainment of poverty alleviation, food security, health security, environmental security and electrification in developing countries. MNEmerge also provides recommendations regarding modes of MNE collaboration with societal stakeholders, as well as tools for decision making that can facilitate the implementation of these recommendations. Thus, the project aims at supporting business sustainability while simultaneously ensuring sustainable development of a society.

  • Prof. Suraksha Gupta, Kent Business School, University of Kent, United Kingdom
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  • 2016-12-15

Assessing recent Social Security Programs in India

There has been a major expansion of social security programmes in India during the last fifteen years or so, along with wider recognition of economic and social rights. This paper discusses five programmes of interest: school meals, child care services, employment guarantee, food subsidies and social security pensions. The record of these programmes varies a great deal between Indian states, but there is growing evidence that they make an important contribution to human well-being, and also that the achievements of the leading states are gradually spreading to other states as well. Much scope remains for extending these efforts: despite the recent expansion, India's social security system is still very limited in international perspective. The paper also discusses some general issues of social policy in India, such as the arguments for universalization versus targeting, the role and limitations of legal entitlements, and the influence of democratic politics on social security programmes.

  • Dr. Reetika Khera, Dept. of Humanities & Social Sciences, IIT Delhi
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  • 2016-12-12

New Technology Innovations, Rise of Start-Ups and Design of Competitive Business Models

Business models are a current hot topic, and their design has become a key to achieving high performance of the companies big or small. New Technologies: Mobile Internet, IOT, Social media, Cloud, Algorithmic Governance, Driverless cars, etc are changing the industry structure and forcing re-examination of the business development strategies. Indeed, wealth and employment creation are moving from asset builders to service providers to start-ups. The recent game changing disruptive innovations leading to the rise of unicorn start-ups is threatening the incumbents including Fortune 500 companies.

  • Prof. N. Viswanadham, Computer Science and Automation, Indian Institute of Science, Bangalore
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  • 2016-12-09

Large Population Aggregative Potential Games

We consider population games in which payoff depends upon the aggregate strategy level and which admit a potential function. Examples of such aggregative potential games include the tragedy of the commons and the Cournot competition model. These games are technically simple as they can be analyzed using a one-dimensional variant of the potential function. We use such games to model the presence of externalities, both positive and negative. We characterize Nash equilibria in such games as socially inefficient. Evolutionary dynamics in such games converge to socially inefficient Nash equilibria.

  • Prof. Ratul Lahkar, IIM Udaipur
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  • 2016-12-08

Steel Industry: Strategic Options

With the government and the steel industry aiming high to take steel production in the country to about 300 million tonnes per annum by the second half of the coming decade from about 90 million tonnes now, there is a need to study the reasonableness of such an ambition, identify the road to follow to reach this level if this goal is pursued, flag the challenges the Indian industry will have to overcome in the current and the foreseen global context and the choose technology route to follow given the emerging conditions of supply of raw materials, capital and labour. The steel industry globally has exhibited that in its growth, it has succumbed more than once to incorrect understanding of the market and poor timing of investment. It has also capitalized more than often the easy money made available by the banking system whenever the market for steel is good and expansion of capacity can be justified even on flimsy ground. This study to be presented goes into the analysis of the dynamics of investment in the steel industry in India and examines alternative strategic options for the industry to follow for the coming decades than what the industry seems to be hooked on at present.

  • Dr. A .S. Firoz, Chief Economist, Ministry of Steel
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  • 2016-11-23

Achieving social objectives using sponsorship-endorser portfolios

Increasingly, nonprofits are utilizing social partnerships, such as celebrity endorsements or commercial sponsorships, to realize their social objectives and donation goals. The impact of corporate sponsorship on consumer behavior and the consequences of celebrity endorsement on consumer perceptions continue to be heavily researched. Surprisingly little has been done to integrate these two topics for understanding of the synergies between corporate sponsorship and celebrity endorsement. We apply social identity theory in conjunction with source credibility theory to consider if identification with an entity (sponsor or celebrity) mediates the impact of perceived trustworthiness on the evaluations of social partnerships. The model was tested for two distinct product categories (blood donations and cancer prevention). Results of three experiments indicate support for the proposed model

  • Dr. Ravi Pappu, UQ Business School, Australia
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  • 2016-11-10

Old and out? Age, learning and employability

Workforces across the world are aging, and governments are taking more and more policy actions to encourage aging workers to extend their working lives beyond the usual retirement age. In addition, employers are stimulated to retain older workers and act accordingly to sustain their employability (Dymock, Billett, Klieve, Johnson & Martin, 2012). However, in Europe, the employment prospects of older workers remain weak. People above the age of 50 are often the first to be fired and the last to be recruited. If aging societies are to continue to prosper, aging workers need to stay active in the labour market. Moreover, the demand for labour and skills is exceeding supply across diverse economic sectors (Armstrong-Stassen & Schlosser, 2008). Employers in Europe need to realize that the recruitment pool of the future will be disproportionately composed of aging workers, who are confronted with changing job requirements (Pillay, Kelly & Tones, 2006). Therefore, it is important to facilitate the learning and development of aging workers. If aging workers do not learn, their job-related knowledge and skills can become outdated or obsolete. Consequently, these workers are most likely to leave the labour market early, either voluntarily or involuntarily (Armstrong-Stassen & Schlosser, 2008). Furthermore, as traditional careers with long-term employment in a single organization are disappearing, greater self-direction in learning is encouraged (Raemdonck, 2006).

  • Dr. Isabel Raemdonck, University Catholique de Louvain, Belgium
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  • 2016-10-06

Homeownership and the American Dream - An Analysis of Intergenerational Mobility Effects

The benefits of homeownership feature prominently in the academic literature and policy discussion alike. Increasing homeownership has been a major policy goal in the US for decades, especially in low-income areas. We show that the positive relationship between homeownership and intergenerational mobility is highly place-dependent. First, we link commuting zone-level homeownership rates to intergenerational mobility, and find a strong positive relationship. The relationship persists after instrumenting for ownership using housing supply and price shocks. Second, we show that the positive relation between of homeownership and upward mobility is significantly diminished, or disappears, in areas with high sprawl or segregation, whether we use income segregation, racial segregation, or a new measure of homeowner segregation. These results, as well as additional findings on the formation of social capital and on school quality, suggest that homeownership may not benefit, or even disadvantage children in segregated, poor areas, possibly through reduced residential mobility.

  • Dr. Nirupama Kulkarni, Research Director at CAFRAL
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  • 2016-09-30

High-Cost Debt and Borrower Reputation: Evidence from the U.K

When taking up high-cost debt signals poor credit risk to lenders, consumers must trade off alleviating credit constraints today with exacerbating them in the future. We document this trade-off by exploiting the random assignment of applicants to loan officers with different propensities to approve otherwise identical loans by a high cost lender in the U.K. For the average applicant, taking up a high-cost loan has a large, immediate, and permanent impact on the credit score. Take-up also leads to more default and credit rationing by standard lenders. In contrast, borrowers whose credit score is not affected by take-up — because they already have low credit scores at the time of application — are no more likely to default and experience no further credit rationing. Thus, high cost credit has a negative impact on future financial health when it affects borrower reputation, but not otherwise. The evidence suggests that high-cost borrowing may leave a self-reinforcing stigma of poor credit risk.

  • Dr. Vikram Pathania, University of Sussex
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  • 2016-09-14

A mixed integer linear programming model for optimal sovereign debt issuance

Governments borrow funds to finance the excess of cash payments or interest payments over receipts, usually by issuing fixed income debt and index-linked debt. The goal of this work is to propose a stochastic optimization-based approach to determine the composition of the portfolio issued over a series of government auctions for the fixed income debt, to minimize the cost of servicing debt while controlling risk and maintaining market liquidity. We show that this debt issuance problem can be modelled as a mixed integer linear programming problem. The stochastic model for the interest rates is calibrated using a Kalman filter and the possible future yield curves are represented using a recombining trinomial lattice. The use of a latent factor interest rate model and a recombining lattice provides us with a realistic, yet very tractable scenario generator and allows us to do a multi-stage stochastic optimization involving binary variables on an ordinary desktop in a matter of seconds. This, in turn, facilitates frequent re-calibration of the interest rate model and re-optimization of the issuance throughout the budgetary year allows us to respond to the changes in the interest rate environment. We successfully demonstrate the utility of our approach by out-of-sample back-testing on the UK debt issuance data.

  • Dr. Paresh Date, Department of Mathematics, Brunel University
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  • 2016-09-02

Batching Decisions for E-Commerce Order Fulfilment: Technology, Models, and Data Insights

Due to today’s customer expectations of fast delivery of a wide-range of products, companies are under pressure to reduce the order fulfilment time, i.e., the time from receiving an order to the time it takes to get an order to a customer’s home or to its stores. In this research, we particularly focus on reducing item picking process times for E-Commerce orders by investigating how to design and operate dynamic order batching policies in parts-to-picker systems.



E-commerce orders require piece picking and are special because most of the order sizes are one and there could be item commonalities between orders that can be leveraged for improving throughput times in the picking process. In dynamic batching, multiple orders are processed in parallel but an individual order is released as soon as it is complete. A dynamic batching policy has the advantages of both sequential processing (by meeting individual order deadlines) and static order batching (by fulfilling several orders concurrently thereby reducing the completion time per order). The execution of a dynamic batching policy in a distribution center necessitates investment in a complex and expensive material handling system that enables the release of order totes, which violate the first come first serve queue discipline.



The goal of this research is to understand how best to design and operate a dynamic batching system in a parts-to-picker system. Specifically, we are interested in how the order batch size, item commonalities among orders, wait for items, item pick time and tote-interchange time can affect the performance of static and dynamic batching decisions, and how incoming order profile data can be used to improve performance through sequencing. Specifically, we will answer two research questions:



• What is the difference in throughput of a pick station that uses a static order batching policy versus one that uses a dynamic batching policy? We will explore various environmental factors (such as item commonality between orders, batch size, and order delivery deadline schedules).

• How should orders and items be sequenced to improve throughput performance in dynamic batching systems? Order sequencing algorithms will be developed and the effectiveness of algorithms for dynamic batching will be evaluated using order profile data.

  • Prof. Debjit Roy, Indian Institute of Management, Ahmedabad
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  • 2016-09-01

Building legitimacy in an adverse foreign environment: when the liability of foreignness can become a source of competitive advantage?

Although the banking industry is by nature risk-prone, network-based and subject to strong institutional barriers, banks going international generally operate alone. Within a context of high liability of foreignness, how do they transform their internalization advantage of strategic assets in order to develop competitive advantage? This paper suggests reconsidering liability-based international business models in light of a multiple case study analysing a few foreign banks in India. Using a neoinstitutionalist framework, we find that banks resort to legitimacy-seeking strategies in order to overcome the high liability of foreignness and enjoy their internalization advantage. Furthermore, this paper tentatively tries to operationalize the concept of legitimacy strategies in this very specific case, around three pillars: (l) an overall superior expertise (2) an overall strong global reputation (3) an acculturation strategy aiming at indianizing the local banking unit

  • Mr. Paul Caussat, PhD Student, ESCP Europe (Paris) & University Paris Sorbonne
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  • 2016-08-29

Econometric Identification of Causal Effects: Graphical Causal Models in Practice

It is well known that causal inference relies on untestable a-priori causal assumptions. Identification refers to whether a causal relationship can be inferred from observed statistical associations; it requires an understanding of what statistical associations are induced by those causal assumptions. Since the assumptions are untestable, a transparent description of their statistical consequences helps the readers. However, the relation between causal assumptions and their induced statistical associations may not be obvious. Graphical Causal Models developed in the computer science literature in the 1980s (Pearl 2009) help trace these consequences, and are therefore a tool for both analysis and exposition. In this paper I describe the technique and illustrate its application to several research settings, including a case study in auditing.

  • Prof. Sanjay Kallapur, ISB, Hyderabad
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  • 2016-08-23

Taming Wicked Problems in Strategy Wicked Strategies and the Business of Humanity

In business, some problems are easy, some problems are hard, and some problems are so complex, so intractable, and so threatening to organizations - or entire industries that they are best described as 'wicked'. These problems resist easy interpretation or understanding; they pose questions that seem, to observers, to be unsolvable; and they render traditional analytical tools virtually impotent, requiring new approaches to strategic analysis.

While the prevalence of wicked problems in the arena of strategic management has been increasing because of forces in the business environment, the ability of management to respond effectively to these problems has not kept pace, for two reasons. First, many managers are not aware of the existence of wicked problems and the characteristics that make a problem wicked. Second, effective, systematic approaches to taming wicked problems in strategy are a recent development that have yet to be widely shared and integrated into management curricula.

One such systematic approach that offers promise in addressing the challenge of wicked problems has been developed by the Business of Humanity Project, a joint initiative of the Katz Graduate School of Business and the Swanson School of Engineering at the University of Pittsburgh. The approach employs the construct of humanity—a combination of humane criteria and an empathetic response to global human needs - to develop strategies that respond to the environmental forces creating wicked problems by exploiting disruptive technologies, reconciling conflicted stakeholders, and embracing an unknowable future.

  • John C. Camillus, Katz Graduate School of Business, University of Pittsburgh
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  • 2016-08-22

Disruption and Resilience Issues in Freight Transportation

Freight transportation is crucial to the lifeline of modern society because it connects the producers to geographically dispersed consumers. In North America, this connection is facilitated by an extensive freight transportation system comprised of surface, marine and air transportation. Given its’ significance to the economy, smooth and efficient functioning of the transportation sector is crucial for two reasons. First, investment in transportation infrastructure has not kept pace with the increased volume of goods, which in turn has resulted in at or near capacity operation for the freight transport sector. Second, risks from disruptions that are intentionally designed to damage or cripple the transportation system such as a terrorist related event or result from naturally occurring weather based events have increased. This seminar will focus on the latter reason, and introduce intentional and random disruptions followed by an outline of an analytical approach for fortifying rail-truck intermodal terminal network against the first type. The rest of the seminar time will focus on managing (random) disruption in a railroad network. An optimization-based methodology for recovery from random disruptions in service legs and train services in a railroad network will be outlined, wherein a predictive model is used to identify critical disruption factors and to design suitable mitigation strategy. The proposed methodology is applied to a case study built using the realistic infrastructure of a railroad network in United States. The resulting analyses underscore the importance of accepting a slight increase in pre-disruption transportation costs because it in turn will enhance network resiliency by building dis-similar paths for train services, and of installing alternative links around critical service legs.

  • Prof. Manish Verma, DeGroote School of Business, McMaster University, Canada
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  • 2016-08-08

Licensing Intellectual Property and the Dissemination of Technology

While the exclusive rights provided by intellectual property law are touted as promoting the creation and spread of new technologies, equally important is the role of contract law in supporting the dissemination of technology. Contract and intellectual property laws intersect in the practice of licensing. This presentation will demonstrate how licensing supports technology diffusion through illustrations of the overlap between contract and IPR's. The focus will be on contracts involving inventions not covered by IPR's, exhaustion of IPR's, and competition law. The general point is that contract law also provides incentives for inventors and creators that complement IPR's and in many cases make the exclusivity of intellectual property protection more finely attuned with the openness of market competition.

  • Prof. Shubha Ghosh, Syracuse University College of Law in Syracuse, New York
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  • 2016-08-05

Whatever it takes: The Real Effects of Unconventional Monetary Policy

On July 26, 2012 the ECB’s President Mario Draghi announced to do “whatever it takes” to preserve the Euro and subsequently launched the Outright Monetary Transactions (OMT) Program, which led to a significant increase in the value of sovereign bonds issued by European periphery countries. As a result, the OMT announcement indirectly recapitalized periphery country banks due to their significant holdings of these bonds. However, the regained stability of the European banking sector has not fully transferred into economic growth. We show that this development can at least partially explained by zombie lending motives of banks that still remained under-capitalized after the OMT announcement. While banks that benefited from the announcement increased their overall loan supply, this supply was mostly targeted towards low-quality firms with pre-existing lending relationships with these banks. As a result, there was no positive impact on real economic activity like employment or investment. Instead, these firms mainly used the newly acquired funds to build up cash reserves. Finally, we document that creditworthy firms in industries with a prevalence of zombie firms suffered significantly from the credit misallocation, which slowed down the economic recovery.

  • Prof. Viral Acharya, Stern School of Business, New York University
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  • 2016-08-04

An Extraordinary Opportunity for Leading Indian Management Schools in MBA programs

The dramatic increase in fine grained digital data is pervading functions in organizations that range from from finance and marketing to human relations and supply chain operations. At the highest strategic level it is disrupting entire industries in transportation, media, entertainment, engineering, merchandising, retail banking and financial services. This represents an extraordinary opportunity for schools like IIMA to develop an MBA program that produces exceptionally strong quantitatively oriented graduates. With 90% of incoming students having engineering degrees, IIMA can have a strong concentration option in business analytics. Few business schools in the west have incoming classes with such a strong foundation in quantitative thinking. The IT solutions industry in India is a global leader and provides an excellent environment for building such a program. One of the industries that the digital revolution is likely to disrupt in the next decade is the education industry. This presents another extraordinary opportunity for IIMA to use on-line learning technologies to directly support MBA programs that have limited resources to build strong business analytics components in their offerings.



I see two significant challenges. First is that engineering education in India is weak in providing knowledge of statistics which is a key component of business analytics. The second is the need for a rapid ramp up in developing this concentration to stay at the forefront of the rapidly evolving digital economy. My experience with teaching business analytics at MIT and with founding a company that supports on-line learning of statistics with over 100 courses developed by authors of recognized text books in a range of topics, combined with dialogue over the past year with education institutes in India leads me to propose a collaborative initiative. This effort would involve education institutions pooling their resources to build concentration programs in business analytics that leverage these new disruptive educational technologies.

  • Mr Nitin R Patel, Chairman and Chief Technology Officer, Cytel
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  • 2016-07-15

Do Programs Mandating Small Business Lending Disincentivize Growth? Evidence from a Policy Experiment

Exploiting discontinuities in program eligibility, we show that small-firm lending mandates inhibit firm growth. Firms newly qualified under lending mandates near the upper threshold for treatment have lower growth in investment, sales, and a nonaccounting measure, power consumption. The effects are more pronounced for more constrained firms and those borrowing from banks facing shortfalls in meeting lending targets. Establishment level data show similar program-induced distortions in firm size. Our results suggest that financial constraints matter: firms give up growth to retain credit access. However, solving small firm constraints through lending mandates on banks could counterintuitively slow growth so that target firms remain small and banks find it easier to meet statutory targets.

Co-Authors: Gursharan Bhue, University of Chicago and Prasanna Tantri, Indian School of Business

  • Dr. N R Prabhala, Chief Mentor and Head of Research at CAFRAL
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  • 2016-07-04

Public versus Private Provisioning: Role of Education and Political Participation

This paper studies the role played by education in the public provision of private ‘merit goods’, such as healthcare, schooling, security and so on. Corruption is endemic in public provision. Better educated individuals are more effective at exerting political pressure, which reduces corruption and improves quality of the merit goods delivered. At the same time, educated elite have higher income which allows them to opt out of public provisioning and form a private club that delivers the merit good/service to its members. This may lead to deterioration of public provisioning. Depending on parametric conditions, several equilibrium configurations exist, some exhibiting multiple equilibria – with different degrees of corruption and concomitant variation in the quality of public provision and welfare of people. Under a stochastic adaptive dynamic process, almost surely a unique equilibrium will be selected, which need not be the one which isleast corrupt or most efficient. This brings in the scope for effective policy intervention. We also analyze the long run wealth dynamics and its implication for the public vis-a-vis private provisioning.

  • Prof. Tridip Ray, Indian Statistical Institute, Delhi
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  • 2016-06-28

Choice of IT Governance Mode:Effect of IT infrastructure Agglomeration

Information technologies have enabled growth of large firms with multiple business units spread across geographies and markets. Governance of IT infrastructure is a key strategic priority for managing digitally-enabled operations across these firms. Specifically, firms either govern the IT infrastructure centrally or decentralize the decision-making to business units. Making this choice is challenging. Offering foundation platforms, IT infrastructure enables (or limits) the business units’ capability for digitizing business operations. Using an option-based perspective, we argue that firms’ assessment of IT infrastructure options requires considering various future scenarios. An effective governance model facilitates assessment of these scenarios. In general, firms consider costs of coordination and responsiveness, while choosing centralized or decentralized mode of IT infrastructure governance. Previous research examines how the characteristics of business unit or central headquarters, or the relationship between the two, influence this choice of a governance mode. However, network effects, due to knowledge exchange between units, have been overlooked in the previous research. In this research, we argue that agglomeration effects influence the choice of a governance mode. Identifying these agglomeration effects, we assess if similarity of technologies–software and hardware–across business units influences the choice of IT infrastructure governance mode. Specifically, we propose and test if firms centralize IT infrastructure governance for a business unit that has similar hardware and software profiles as that of other business units in the firm. Study also assesses the moderating effect of organizational size on these relationships. We test relationships using data from CI Technology Database and additional data from SDC Platinum Mergers and Acquisitions, Lexis-Nexis corporate affiliation, and COMPUSTAT. We test various econometric time series models, to test our hypotheses. Study discusses the academic contributions and practical implications of our findings.

  • Prof. Pankaj Setia, University of Arkansas, US
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  • 2016-06-17

Skilled Migrants' Relocation Decisions and Resettlement Processes: The Embedded Role of Emotional Labou

International mobility of skilled migrants involves their agency in shaping their social, cultural, economic, and symbolic capitals. This research emphasises the rationality embedded in skilled migrants’ migration decisions. However it ignores the outcomes of these seemingly agentic decisions being informed by the migrant’s emotional responses to their experiences of foreignness. When the migrants’ foreignness is a liability and their skills are devalued, resettlement processes including gaining skilled employment becomes challenging which makes resettlement an emotionally experienced phenomena. This research involved gaining insight into the subjective experiences of 23 skilled immigrants from regions including Africa, Asia, and Europe by means of exploring their experiences of coming to, settling in and finding skilled employment in New Zealand. Grounded theory methodology was employed to analyse the interview data, which signified a variety of emotional struggles that were commonly experienced. Emotional dissonance and emotional labour emerged as the core categories. Our findings move beyond the current literature on workplace emotional labour to immigrants’ coping strategies for gaining employment.

  • Prof. Paresha Sinha, The University of Waikato, New Zealand
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  • 2016-03-11

Citius, Altius, Fortius: A History of How the World Became Efficient

The talk is derived from an early stage, multi-year book project that investigates the historical political economy of the idea of efficiency. The history and political economy of the spread of
efficiency to distant corners of the globe is a grand saga that transcends the diffusion of material and sociological objects commonly associated with efficiency - the steam engine, the Ford assembly line, Weberian rational bureaucracies, scientific management, etc. Indeed, efficiency is the quintessential object of modernity, and the historical arc of its global diffusion coincides with the ebbs and flows of the story of how the world became modern. The talk will present the broad contours of this global history from 1780 to the present time.

  • Prof. Deepak Malghan, Indian Institute of Management, Bangalore
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  • 2016-03-09

Supply Allocation under Sequential Advance Demand Information

We study the problem of allocating supply under advance demand information (ADI). We consider a company that must allocate limited inventory to different markets that open sequentially. To reduce uncertainty, the company receives advance demand information and updates forecasts about its markets each time it makes an allocation decision. We study the value and optimal use of this information. Our research is motivated by an agri-food manufacturer that operates in several European countries. We develop the optimal policy under relaxed conditions and an efficient heuristic policy that performs close to optimal under general conditions. We derive structural properties of the model to gain managerial insights, and we derive the optimal policy in closed-form for the case of markets with identical prices. We use numerical experiments to demonstrate that the value of ADI can be significant. The managerial insights of this study include the observations that in environments as the one that motivated our research, early markets receive systematically less supply than late markets and that the value of ADI is greatest if the initial supply is close to the initial forecasts.

  • Prof. Felix Papier, ESSEC Business Schoo
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  • 2016-03-08

When Near is Far and Far is Near:FDI, Geographic Location and Connectivity

Building on sociology theories that separate physical geography from its metaphorical connotations, we offer reconciliation for the theoretical ambiguity and conflicting empirical findings regarding the impact of countries’ geographic location on their performance as hosts for FDI. Quantile regression of FDI flows and stocks to 159 countries observed during 1980-2011 shows that the impact is contingent upon country unilateral characteristics and their connectivity to other countries, and that the relationships vary across different segments of the FDI distribution. These findings suggest that whereas geography is a fixed country attribute, its consequences are intertwined with the characteristics of countries and are constructed by their actions. We outline the ways by which the perceptions of remoteness and proximity that we advance in this paper should be incorporated in MNE strategies and modify their location choices and strategic responses to geographic location.

  • Prof. Lilac Nachum, City University New York
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  • 2016-02-01

An Analysis of Multivariate final-offer arbitration

First proposed in 1966, in the United States Final-Offer Arbitration has been adopted by Major League Baseball as well as in the public sector in many states as a means or resolving negotiation impasses. We will discuss the mechanics of this arbitration method and the game theoretic model under which it has been studied. Some of the important results concerning zero-sum games and probability will be addressed. Finally we will look at the problem of extending the basic model to one where multiple issues are in dispute, and some of the surprising results of the extended model.

  • Mr. Brian Powers, University of Illinois at Chicago
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  • 2016-01-29

Game theory - The Mathematics for Conflict Resolution

Game theory can be broadly classified into cooperative and non cooperative games. In non-cooperative games the key solution concept is the notion of a Nash equilibrium. In cooperative games, the key issue is how to split the cooperative output among the participants of the game. Here one has several solution concepts and one may have to tailor the appropriate solution to the model at hand.

The talk will motivate via simple examples to illustrate the solution concepts for both non-cooperative and cooperative games. Some classic examples will be chosen to illustrate the basic ideas, like the value and optimal strategies for zero sum games, and the notions of Nash equilibrium and correlated equilibrium via Cournot models, Prisoner's dilemma and the battle of sexes. For Cooperative games we will introduce the solution concepts like the Shapley value, Core and the nucleolus using some simple examples from Bohm Bawerk's horse market, legal disputes, real state pricing etc.

  • Prof. T.E.S. Raghavan, University of Illinois at Chicago
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  • 2016-01-28

E-GOVERNMENT TO COMBAT CORRUPTION IN INDIA & JOURNAL OF IT CASE AND APPLICATION RESEARCH (JITCAR)

Corruption in varying degrees exists in almost all countries. But its alarmingly high levels and persistence in developing countries such as India is a cause for deep concern. Indeed, international agencies and governments are continually engaged in devising new strategies to check corruption. Although e-government has held much promise in this regard, its impact on developing country corruption presents a mixed picture. This presentation connects to the relevant theories and posits a conceptual model of e-government impact on corruption. In addition, five Indian case-studies are re-visited and their outcomes with regard to corruption are analyzed afresh in terms of the conceptual model. This paper should help e-government impact research to move forward from non-theory to theory driven.

JITCAR focuses on research based on in-depth study of real world cases and applications to explain existing theories and concepts or to help in building new theories and frameworks. It is a double blind refereed international quarterly journal that is supported by IT scholars from all over the world. The journal is international in all respects: content, authors, readers, reviewers, and editors. JITCAR publishes case and application research articles focusing on any size of organization: start-up, small, medium, large, or multinational company. These cases and applications can originate from any country in the world: advanced, newly industrialized, developing, or under-developed. Furthermore, the primary thrust of a case or application may include artificial intelligence, business process reengineering, cross-cultural issues, cybernetics, decision support systems, electronic commerce, firewalls and internet, groupware, human side of IT, information infrastructures, joint application development, knowledge based systems, local area networks, management information systems, neural networks, office automation, prototyping, query languages, robotics, systems analysis, telemedicine, ubiquitous computing, video-conferencing, webonomics etc. This journal has been in existence since 1999. It is published by Taylor & Francis in existence since 1796.

  • Dr. Shailendra C. Jain Palvia, College of Mgmt. of Long Island University Post
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  • 2016-01-18

Blowing Smoke: The Management of Moral Illegitimacy by the U.S. Tobacco Industry

U.S. corporations have had a remarkable history of overcoming challenges to their moral legitimacy. While a number of established theoretical positions have argued that organizational wrongdoing is likely to be a tremendous social liability, the last few decades have seen corporation after corporation (from BP to Goldman Sachs) tarnished by various public allegations, only to emerge relatively unscathed. Few industries have been quite as stigmatized as Big Tobacco – for producing a dangerous product and further, going to extreme lengths in defending and marketing it to unsuspecting customers. Using Critical Institutional theory, this presentation will explain how the American Tobacco Industry survived charges of illegitimacy for so many decades, and became a “model” for other companies facing problems of stigmatization.

  • Prof. Anshuman Prasad, University of New Haven and Prof. Pushkala Prasad, Skidmore College
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  • 2016-01-13

Partisan Politics and the Tragedy of the Commons: Groundwater Depletion in India’s Breadbasket

India's agriculture depends on groundwater irrigation, but this critical resource is depleting. Abundant supply of heavily subsidized electricity plays a key role in this depletion by allowing farmers to operate powerful electric pumps for lifting groundwater. We theorize that Indian politicians use their political power to allocate scarce electricity to rural constituencies for economic profit, and that this patron-client relationship causes groundwater depletion. To test this hypothesis, we use data from the universe of government groundwater monitoring wells for the years 1976-2003 in Punjab, India's breadbasket and home of the green revolution. We show several types of quasi-experimental evidence demonstrating that when the candidate of the Congress Party wins the elections for Punjab State Assembly, groundwater levels begin to decline faster within his or her constituency. The effects are the strongest when the Punjab Chief Minister is also a Congress member. These findings are consistent with the idea that politicians can only allocate scarce electricity to farmers when they are connected with state and national political leaders. While politicians from the regional Shiromani Akali Dal party, which competes with Congress for dominance in Punjab's de facto two-party system, also want to supply electricity to their constituencies, they are unable to do so because they do not have the same access to national decision-makers.

  • Prof. Johannes Urpelainen, Columbia University
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  • 2016-01-08

Challenges in Creating a Premier Institute of Higher Technological Education in a Remote Area: A Case Study of IIT Mandi

In 2009, a picturesque 500-acre campus in a remote Himalayan river valley was selected for an IIT. With a population of barely 200, beset by landslides and bitterly cold winters, the village of Kamand is 45 minutes from the modest town of Mandi, and 6-7 hours from the nearest major city, Chandigarh. Was it a foolish pipe-dream that a world-class member of the IIT system could rise in this bucolic mountain setting?

Six years later, IIT Mandi has earned the distinction of being the first of the 8 new IITs to start occupying its permanent campus in mid-2012, and is still the only one to have a fully functional residential campus. IIT Mandi has achieved many other significant milestones, in its long journey towards becoming a renowned IIT. It has graduated 3 batches of students who have started careers in India's leading companies, and in the best universities in India, North America and Europe. Over 90 faculty are active in experimental and theoretical research, with a productivity on par with the old IITs. They have won sponsored research projects from a variety of Indian agencies and from a few companies in the US.

In this talk, we will outline the challenges that we faced while conceiving and building IIT Mandi. These include the remote location, natural hazards, lack of urban ecosystems, etc. We will describe how we defined and implemented a strategy towards the vision of serving Indian society. This strategy involves several USPs, including a strong inter-disciplinary culture, a unique project-oriented BTech curriculum, and a vibrant social outreach programme.

  • Prof. Timothy A. Gonsalves, IIT Mandi
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  • 2016-01-07

MNCs and Global Foreign Policy: A trend we may have missed in the last 5 Years

On the international stage, the multinational corporation has been sneaking up on traditional prerogatives of the state, with surprisingly little mainstream commentary on the trend. The talk singles out news stories from 2010 to 2015 - instances that characterizes a definite shift in the role of giant corporations across the world both in civic life domestically and in foreign affairs. The bulk of the lecture is brief (rapid-fire) cases that pair large corporations (Google, S&P, BP and such) with a country or bloc (Germany, Russia, US, South Africa and so forth). Some of the more recent news stories will be familiar and yet, when juxtaposed against many others as a trend, might give the audience pause. The objective of the fast-paced talk is to intrigue students just enough so they are compelled to take a second look on their own time. Some should expect their career plans to broaden.

  • Dr. Sachin Kumar Badkas, United Nations University – MERIT
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  • 2016-01-05

Access, Agenda Constraint and Informational Lobbying

We develop a model of informational lobbying in which a policymaker must decide which issues to implement reforms on. On each issue there is an informed interest group that always favour the adoption of reform, and which can lobby the policymaker by offering to provide truthful information about the state of the world. A key feature of our model is that the the policymaker faces resource constraints which inhibit his ability to grant access to lobbying interest groups and may also restrict his ability to implement reform on all issues. We show that while the act of lobbying can signal pro-reform information, it may not do so perfectly. In particular, an interest group may want to lobby the policymaker even when it does not possess pro-reform information in the hope that the policymaker is unable to audit the information provided but still takes the act of lobbying as a signal that the state is favourable to reform. We then show that a restriction on the number of issues on which reforms can be implemented can improve the quality of information transmission by making the disciplining role of access more credible. Indeed, in some cases imposition of such a restriction leads to a Pareto improvement.

  • Prof. Mandar Oak, University of Adelaide, Australia
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  • 2015-12-21

Corporate Social Responsibility Report Narratives and Analyst Forecast Accuracy

Standalone corporate social responsibility (CSR) reports vary considerably in content due in part to their voluntary nature and the lack of an accountability framework in CSR reporting. In this study, we develop a CSR disclosure score based on the tone, readability, length, and the numerical and horizon content of the CSR reports’ narratives, and examine the relationship between CSR disclosure scores and analyst forecast accuracy. We find that while CSR reporters with higher disclosure scores are associated with more accurate analyst forecasts, low score CSR reporters do not have better analyst forecast accuracy than firms issuing no CSR reports. In addition, we also find that while improvement in CSR reporting style (tone and readability) has a stronger effect on improving analyst forecast accuracy, increasing the CSR reporting amount (length, numerical content, and horizon content) alone does not have such an effect. Furthermore, we find that disclosure scores of first-time CSR reports have a weaker association with analyst forecast accuracy than disclosure scores of subsequent CSR reports. Together, our findings suggest that better CSR reporting style and commitment to persistent CSR reporting practices play important role in improving analyst forecast accuracy, but simply increasing the quantity of information to be disclosed on CSR reports has little capital market consequences.

  • Prof. Suresh Radhakrishnan, University of Texas at Dallas
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  • 2015-12-16

Bayesian Nonparametrics - Dirichlet Process and application

This talk would present a brief overview of some popular priors studied in Bayesian nonparametrics. Starting with Dirichlet process, we will explore mixture models hierarchical models and indicate some applications. If time permits, we will also discuss some issues related to asymptotic validation of these methods.

  • Prof. R.V. Ramamoorthi, Michigan State University , USA and Chennai Mathematical Institute, India
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  • 2015-12-15

How does point-of-purchase advertising influence sales? A randomized field study

Point of Purchase (POP) advertising is ubiquitous; it is hard to find a retail store, fast food restaurant, or convenience store that does not have signs and banners advertising various brands. Despite its frequent use, not much research has examined the impact of POP advertising on sales of the product, probably because it is difficult to exactly quantify its influence and distinguish it from price promotion signs. Building on past work on recency of persuasive influence, malleable versus stable consumer preferences, retail aesthetics, technology, and competitor activity, we propose that POP advertising is at best likely to have no influence on sales and at worst could have a negative influence. To disentangle the causal influence of POP advertising we used a randomized field study. The study included over 300 stores from a large retailer, two product categories, one hedonic and one functional, and sales pre and post intervention.
The analyses indicated no positive influence of POP advertising on sales; in one case the influence is negative. Along with theoretical insights, the result informs managerial practice that money currently spent on POP advertising could potentially be spent on other profitable marketing activities.

  • Prof Himanshu Mishra and Prof. Arul Mishra, University of Utah
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  • 2015-12-15

Corporate Debt Restructuring, Bank Competition and Stability: Evidence from creditors’ perspective

This paper estimates the causal effect of a unique programme of corporate debt restructuring (CDR) on stability of Indian banks over the period 1992-2012. The banks who participated in the programme were extended regulatory forbearance on asset classification and provisioning on the restructured corporate loans. We find that banking stability of the participated banks increases substantially after the implementation of the programme. Using stochastic frontier analysis approach, we estimate two variant measures of market power and investigate the interactive effect of CDR on bank stability. The result shows that the positive effect of CDR on stability declines at higher level of market power, implying that the CDR mechanism is less effective for the participating banks beyond a threshold level of market power. We also find that the second phase of deregulation and the direct effect of market power have significant positive effect on the overall soundness of Indian banks. To provide unbiased treatment effects of CDR eliminating any sample selection bias, we further confirm the positive effect of CDR on bank stability using a number of alternative matching estimators. Our results (both parametric and non-parametric) remain insensitive to an array of robustness tests including quality of matching.

  • Prof. Sushanta Mallick, Queen Mary University of London, UK
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  • 2015-12-14

Identifying the most and least promising customers through similarity kernels

Research has demonstrated that identifying profitable customers and acquiring them is far more expensive than retaining existing customers. The higher cost emerges because firms are unable to identify the truly profitable customers or those that would convert to their brand. In their inability to accurately identify leads they spend resources on many leads that appear potential but do not convert resulting in a lot of waste. One way to identify the small number of promising customers is to recognize that promising customers appear like anomalies. However, traditional statistical methods cannot identify anomalous observations combining both numeric and categorical variables in a dataset. This task becomes complex in this age of BigData that contain variables that can’t be assumed to follow any statistical distribution, are at times sparse and are generated via a dynamic process where it is hard to fit a stable predictive model a priori.

We present a method of detecting anomalous yet promising customers using similarity kernels that can handle mixed attribute data. We test the performance of six kernel based algorithms to detect anomalies using both simulated and real marketplace data. Our proposed method holds implications for research on word-of-mouth (WOM) to find out consumers who are most likely to diffuse a message versus those who are least likely to. In customer churn it helps companies to correctly identify customers who are more likely to churn so that they can invest resources on them and avoid wasteful spending on those who are less likely to churn. In sales data it helps identify heavy users of a product generating high sales versus non-users on whom offers have no influence. In market segmentation research the presence of such extreme observations can lead to consumers being classified into wrong clusters. Correctly identifying the most valuable, from the least valuable, customers can result in targeted sales promotion offers, accurate online advertisement delivery and even better direct marketing.

  • Prof. Arul Mishra, University of Utah
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  • 2015-12-11

Missing Men, Migration and Labour Markets:Evidence from India

How do labor markets function when a large part of the able-bodied male workforce is absent due to out-migration? This question holds great significance as it affects regions covering over 200 million people in India and many other parts of the world. In this paper, we analyze individual and district level data on internal and international migration, remittances, sex ratios and labor market variables in India from the perspective of the migrant’s source region and find that the ‘missing men’ phenomenon is associated with

(a) Feminization of the agricultural workforce (b) Higher levels of male employment in the construction and rural non-farm services sector and (c) Higher rural wages for males due to tighter labor markets. We argue that these associations are likely to be causal in nature through an instrumental variable strategy that employs historic migration networks that evolved in the late nineteenth century as instruments for current migration.

  • Prof. Chinmay Tumbe, Tata Institute of Social Sciences, Hyderabad
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  • 2015-12-02

Economic Inequality from Statistical Physics Point of View

Similarly to the probability distribution of energy in physics, the probability distribution of money among the agents in a closed economic system is also expected to follow the exponential Boltzmann-Gibbs law, as a consequence of entropy maximization. Analysis of empirical data shows that income distributions in the USA, European Union, and other countries exhibit a well-defined two-class structure. The majority of the population (about 97%) belongs to the lower class characterized by the exponential ("thermal") distribution. The upper class (about 3% of the population) is characterized by the Pareto power-law ("superthermal") distribution, and its share of the total income expands and contracts dramatically during booms and busts in financial markets. Globally, data analysis of energy consumption per capita around the world shows decreasing inequality in the last 30 years and convergence toward the exponential probability distribution, in agreement with the maximal entropy principle. Similar results are found for the global probability distribution of CO2 emissions per capita. Global inequality matters for the international effort to reach an agreement for addressing climate change. This work was supported by a grant from the Institute for New Economic Thinking (INET). All papers are available at http://physics.umd.edu/~yakovenk/econophysics/. For recent coverage in Science magazine, see http://www.sciencemag.org/content/344/6186/828.

  • Prof. Victor Yakovenko, University of Maryland, USA
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  • 2015-12-02

The touch of Midas or the curse of Bhasmasura? Learning from failures of Indian investments in Finland

This seminar presentation contributes to expanding the conversations around investments of multinational companies from emerging economies (EMNCs) in developed countries. The purpose is to invite attention to management processes and business systems in how these combine to affect outcomes. There are very few enterprise level studies of Indian outward foreign direct investments (OFDI) to a developed country, and none at all to Nordic Europe. Longitudinal studies of the two of the first Indian foreign direct investments in Finland (both failed) would be shared to raise working hypotheses that merit deepening studies for the geographical diversification by Indian business groups. Tentative policy implications arising for host and home country and for others treading such paths would be discussed. The tentative conclusion is that the pull for OFDI from emerging and developing economies in investment-scarce developed countries can attract investments that raise the spectre of adverse selection, besides moral hazards. Inward foreign investments regarded as nectar may be poisonous if the nexus of stakeholders lacks motivations or capabilities to go beyond the lure of para-statal incentives and subsidies that could be one of the key pulls or drivers of such investments.

  • Prof. Ajeet N. Mathur, Indian Institute of Management, Ahmedabad
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  • 2015-11-23

The Fallacy of National Culture

The international business and management literature is dominated by the national culture perspective pioneered by Hofstede (1980) with his national culture dimensions and scores, and extended by Gelfand et al. (2011), House et al. (2004) and Schwartz (1999). Our research shows that: (1) the national culture values are often similar across nations, (2) the national culture dimension scores in Hofstede and GLOBE lack convergent and discriminant validity, (3) the national culture measures of Hofstede lack face validity, (4) the projection of national culture characteristics onto individuals is a “measurement ecological fallacy”, and (5) there are diverse transnational and subnational culture archetypes within and across countries. Researchers, practitioners and students of international management should avoid using the stereotype-based national culture models, and recognize both similarities and differences in culture values within and across countries for theory and practice.

  • Dr. Sunil Venaik, University of Queensland Business School, Australia
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  • 2015-10-30

Exploring Sustainability Issues in Supply Chains 

Sustainability initiatives are at the forefront of many firms' agendas today. Consumers and government mandates are both calling for environment-friendly business practices. In this presentation, we will examine sustainability issues from two perspectives.

Remanufacturing is one approach to sustainability, with benefits that include the diversion of discarded products from landfills, reduced virgin raw material usage, and energy consumption lower than in original manufacturing. It is perceived as an environment-friendly end-of-use management option for many product categories. For example, remanufacturing in the auto industry saves over 80% of the energy and raw material required to manufacture a new part, and keeps used parts out of landfills. It has also been observed that remanufacturing consumes less energy than does manufacturing of new products, and evidence suggests that remanufacturing can be superior to recycling in material consumption and overall environmental impact. Since remanufacturing activities can either be performed in-house or outsourced, we attempt to understand the drivers of when either one of the two alternatives are superior not only in terms of profitability but also in terms of environmental impact.

A second focus is to evaluate policy decisions for product disposal and reuse. Given that consumer electronics have become an integral part of daily life and revolutionized the way we live, an associated downside is that more than 50 million tons of e-waste were discarded in 2009 and 72 million tons are expected to be disposed in 2014. Hence, government incentives and legislations are now used to facilitate end-of-life/end-of-use management of electronic products. This includes (but not limited to) refurbishment or remanufacturing, recycling e-waste and disposal. Based on practice, we evaluate three alternative mandates from the perspective of the consumer, the firm, and the environment.

  • Prof. Asoo J. Vakharia, Warrington College of Business Administration, University of Florida
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  • 2015-10-05

Coal-fired power plants in India

India has more than doubled its power generation capacity between the years 2000 to 2014 and coal accounts for more than 66% of its total electricity production. Since 1961, the ‘pit-head’ plant placement policy of India, directs preferential construction of plants near coal-mines. Consequently fewer than 60 districts (less than 10%) of India at present account for more that 90% of all coal-based installed capacity. In this paper we exploit the cross-sectional variation resulting from this ‘pit-head’ plant placement policy and the temporal variation induced by rapid capacity expansion to identify the distributional impacts of coal-fired power generation in India. We find that during this period every Giga-Watthour of coal-power generation has increased local ambient SO2 pollution by 32% and NO2 pollution by 5%. We also find localized adverse health impacts.

  • Prof. Anish Sugathan, Indian Institute of Management Ahmedabad
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  • 2015-09-10

On Path Decompositions of Graphs and Multigraphs

For graphs G and H, graph G is said to admit an H-decomposition if the edges of G can be partitioned into isomorphic copies of H. Let P4 denote the path on 4 vertices. We survey results that assert that certain graphs and multigraphs admit a P4 decomposition. We then prove that unless P = NP some of these results are best possible by proving that their extensions are NP-complete. The positive results and the NP-complete results provide evidence for a conjecture about P4 decomposability of even-regular multigraphs.

  • Prof. Shailesh K. Tipnis, Illinois State University, USA
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  • 2015-08-28

When are rewards bad for innovation? Examining the linkages between leadership, work motivation and employee innovativeness in the Indian R&D context

Building on the foundations of self-determination theory of motivation, the present study investigates the association between leader behaviors, autonomous motivation and employee innovativeness (innovative work behavior and innovation outcomes) in the Indian R&D context. Data were collected from 493 scientists working in Indian R&D organizations and structural equation modelling was used to test the hypothesized relationships between the study variables. The study found evidence for positive relationships between intrinsic motivation, integrated extrinsic motivations, and employee innovative work behavior and innovation outcomes. While extrinsic motivation is always considered to be negative and harmful for innovation, the present study shows that integrated extrinsic motivation has characteristics similar to intrinsic motivation and can be conducive for promoting innovative work behaviors and innovative outcomes. Extrinsic motivation (driven only by financial rewards) was negatively related to both innovative work behaviors and innovative outcomes. Leadership was positively related to intrinsic motivation, integrated extrinsic motivation and innovative work behaviors, but not to extrinsic motivation and innovative outcomes. Implications of the study for theory and practice will be discussed in this talk.

  • Prof. Vishal Gupta, Indian Institute of Management Ahmedabad
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  • 2015-08-27

Fraud, Corruption and Bribery: How to Detect and How to Prevent

Much of the rhetoric from India's last electoral campaigns has focused on corruption. In fact billions of dollars are lost every year due to fraud related activities. Financial fraud and then the consequent bankruptcy of a business was one of the reasons for the financial crisis and is usually an extremely costly event. Downturn in financial and economic conditions has triggered a jump in the fraudulent activity in the corporate world. In this talk using fraud triangle we will briefly discuss why people commit fraud. We will give some case presentations of few of the frauds that have happened and the lessons which we can learn from these frauds to prevent future frauds.

Many business decisions rely on the accuracy of financial statements, but resources are not available to comprehensively investigate all of them. Moreover, detection of fraud in financial statements is difficult. Consequently, there is a need for better aids such as detection models developed using supervised learning. Using models developed in this research, financial statements can be automatically classified as either fraudulent or legitimate, as well as being ranked according to their likelihood of being fraudulent. This information can be used to improve early detection, which would mitigate the costs of fraud and help deter it from occurring by increasing the probability of being detected. Beneficiaries of this information include auditors, investors, financiers, employees, customers, suppliers, regulators, company directors and the financial markets as a whole through improved integrity and allocation of resources.

  • Prof. Kuldeep Kumar, Bond University, Australia
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  • 2015-08-26

Policy Innovations, Political Preferences, and Cartel Prosecutions

The R & P seminar held at Wing 11 Committee Room, IIM Ahmedabad on August 10, 2015 by Prof. D. Daniel Sokol, Professor of Law, University of Florida Levin College of Law on Policy Innovations, Political Preferences, and Cartel Prosecutions.

  • Prof. D. Daniel Sokol
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  • 2015-08-10

Global Contamination Assessment and Remediation of the Environment

The R & P seminar held at Wing 11 Committee Room, IIM Ahmedabad on August 3, 2015 by Prof. Ravi Naidu, Chief Executive Officer & Managing Director of Cooperative Research Centre for Contamination Assessment and Remediation of the Environment on Global Contamination Assessment and Remediation of the Environment

  • Naidu, Prof. Ravi
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  • 2015-08-03

Economic Incentives versus Institutional Frictions: Dynamics of cross-country migration

The R & P seminar held at Wing 11 Committee Room, IIM Ahmedabad on July 14, 2015 by Prof. Anindya S. Chakrabarti, Indian Institute of Management, Ahmedabad on Economic Incentives versus Institutional Frictions:Dynamics of cross-country migration

  • Chakrabarti, Anindya S.
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  • 2015-07-14

Only Mine or All Ours: Do Stronger Entitlements affect Altruistic Choices in the Household

The R & P seminar held at Wing 11 Committee Room, IIM Ahmedabad on July 9, 2015 by Prof. Utteeyo Dasgupta Wagner College and a Senior Research Associate at the Center for International Studies and Policy, Fordham University on Only Mine or All Ours: Do Stronger Entitlements affect Altruistic Choices in the Household

  • Dasgupta, Utteeyo
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  • 2015-07-09