The conventional wisdom on the relationship of firm growth with its size and age is typically based on the studies in developed economies. In contrast, this study analyses the firm growth patterns for an emerging economy, namely India. It uses a balanced panel of 392 manufacturing firms over the years 1989–1990 to 1992–1993 to explore unobserved heterogeneity among firms. Results indicate that age positively influences growth, which is the opposite of the result obtained in previous studies. The current size negatively impacts growth as in earlier studies. Results also indicate that smaller and older firms grow faster than their counterparts. Size effect is larger in food industry while the age effect is larger in non-metal industry.
Purpose In today’s technology-led volatile business environment all established businesses are trembling and retailing is no exception. Exploration of the entrepreneurial side of retailers will expose the essential attitudes to survive in the new world order. The present study is an endeavor towards this end. Design/methodology/approach In this descriptive research, a pre-tested entrepreneurial orientation questionnaire constructed by De Nobrega (2012) was adopted, and it was fine-tuned to suit for the retail environment. Initially, an exploratory study was organized, and it was followed by confirmatory factor analysis. Data collected were analyzed with SPSS 23.0, and the conceptual model was validated in AMOS 23.0. Findings The study evinces that the retailer’s entrepreneurial orientation is induced by five factors, namely, autonomy, risk-taking, innovation, competitive aggressiveness and pro-activeness. The study exposes the five dimensions and their ascendancy on business performance. Research limitations/implications The study is operationalized in a small sample, confined to two types of trade, limited to small and medium retailers in Chennai and all the constructs are measured with the help of perceptual self-reporting scales. Practical implications The study highlights that the art of spearheading retail business performance lies in attitude orientation. This work will propel retailers and trade bodies to nurture the entrepreneurial orientation. Social implications The study emphasizes that boosting entrepreneurial mindset of retailers will enable them to achieve business progress and protects the grass root sector of the society. Originality/value This work is the very first study to identify and evaluate the impact of five-dimensional entrepreneurial orientation construct on small and medium retailer’s business performance. The present study is a pioneering empirical contribution to the Indian context.
Purpose -The purpose of this paper is to analyze the intensity of transmission of shocks from USA to BRICS countries in the long-run and short-run deviations and swiftness of recovery during US subprime mortgage crisis. This analysis enables the authors to explore the evolving patterns of relationships between these markets and examine whether their co-movements altered either in response to international shocks that originated in advanced markets like USA or due to their domestic fluctuations. Design/methodology/approach -Employing data of daily stock market indices (open and close) of BRICS countries for the period January 2, 2001 to May 31, 2012, this paper examines the interactions and characteristics of price movements of BRICS with US market by applying co-integration tests, vector error correction model and Granger causality relationship. The daily stock market indices data are derived from respective stock exchange web sites. Findings -The results exhibit that both long-run co-integration relationships and short-run Granger causality relationships exist between the stock markets of US-BRICS. Furthermore, this nexus is amplified in the short-run during 2007-2009, when the subprime mortgage financial crisis in the USA cropped up. This finding lends support to the prominence of developed (US) market links in the proliferation of persistent co-movements of BRICS stock markets.Research limitations/implications -The findings imply an increasing degree of global market integration due to quick dissemination of global shocks originating from developed market like USA, and swift recovery which can be attributed to the increased resilience, consistent with the moderated level of domestically driven risk in the BRICS markets. In spite of their similarities, long-run and short-run interdependences with the US stock market exhibit differences among the BRICS. This can be attributed to the regional heterogeneity in long-run risk and return co-movements with the USA. Practical implications -Changes from the US index easily affect these stock markets in the shortrun, which implies that the US index may act as a leading indicator for investing funds in BRICS markets. Originality/value -This study would enable the authors to understand whether BRICS economies actually remain resilient to adverse developments in USA and could serve as alternative investment destinations for global portfolio diversification.
Mobile payments in India and Kenya had grown tremendously in the last decade and this paper intend to analyze the trend, progress and achievements of both the countries in mobile payments especially focusing on socially and economically backward sections of the society. Mobile payment banking system in Kenya exists since 2007, even before digital era began in India. Payments banks in India, as a concept, envisioned in 2014, nevertheless showing lot of promising growth because of the mobile penetration in India. There are lot of similarities in the intention of both the initiatives, as they mainly focus on financial inclusion for economically poor society and rural population. M-Pesa by Safaricom had made an implausible change in Kenya, improving the labor class and rural people access to banking, reducing time spent on transactions and simplifying the process by just making cell phones as their banks. India until first decade of 20 th century, was mainly dependent on postal service for rural areas as banking solution, but now rapidly moving to digital era with payment banks as a mobile enabled banking solution. The paper explains the Indian service providers like Paytm, Airtel, Jio, and Indian postal service who had already established in India were able to move to Payment bank services quicker because of the base they had established in the last decade. The paper utilizes the secondary data information extracted from published reports and reports from Reserve Bank of India, Central Bank of Kenya and other independent organizations like FSD Maps, Statista and GSMA to arrive at a comparison between the payments systems in both the countries
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.