This document analyzes the impact of capital structure on the financial performance of major Indian steel companies from 2007 to 2012. It begins with an abstract that summarizes the study objectives, methodology, and key findings. The introduction provides context on the importance of the steel industry to the Indian economy. The literature review covers previous research on the relationship between capital structure and profitability. The methodology section describes the sample selection of 13 major steel companies, variables used (capital structure and financial performance ratios), and statistical analysis (correlation, regression, ANOVA). The results section finds a significant negative correlation between capital structure ratios and some financial performance ratios, indicating capital structure impacts steel company profitability. Overall, the document examines how capital structure influences the financial performance of
This document discusses a study on the capital structure determinants of metal, metal products and mining sector firms in India. It aims to assess the impact of firm-specific factors on the capital structure. The study uses regression and correlation analysis of data from 31 firms over 9 years. The results show negative correlations between financial leverage and factors like return on capital employed, profitability and growth. Regression analysis also indicates a significant relationship between these independent variables and financial leverage. The study aims to contribute to understanding capital structure decisions in these industrial sectors in India.
- The document analyzes the relationship between capital structure and firm value for metal, metal products and mining sector firms in India over a nine-year period.
- It finds a negative relationship between return on assets and financial leverage, and a positive relationship between debt-to-assets ratio and financial leverage for these firms.
- Operating profit margin is positively related to financial leverage, while financial leverage and firm size are negatively related. Overall, the study shows capital structure influences firm value in the metal, metal products and mining sectors in India.
Capital structure efficiency of cement industry in tamil naduIAEME Publication
The document summarizes a study on the capital structure efficiency of cement companies in Tamil Nadu over 10 years from 1996-1997 to 2005-2006. The study used Data Envelopment Analysis to evaluate the efficiency of 4 major cement companies - India Cements Limited, Dalmia Cement, Madras Cements Limited, and Chettinadu Cement Corporation Limited. The results showed that the capital structure efficiency scores varied over the years for each company, with most companies having some inefficient years. Cost of funds was found to influence capital structure management efficiency.
Operational efficiency and times series changes in taico bank – auto regressi...iaemedu
This document summarizes a research study on the operational efficiency and time series changes of the Tamilnadu Industrial Cooperative Bank (TAICO Bank) in India over an 11-year period from 1998-2009. The study uses an Auto Regressive Integrated Moving Average (ARIMA) model to analyze changes in 5 key variables (operating profit, operating expenses, capital employed, interest expenses, and gross income) and identify trends. The results of the ARIMA model show significant changes in the 5 variables, with an average annual increase of 11.14%. It is concluded that TAICO Bank has performed financially well over the period of analysis with increasing operational performance.
The study of the relationship between the capital structure and the variables...Alexander Decker
This document discusses a study examining the relationship between capital structure and value-based performance assessment variables in 219 companies listed on the Tehran Stock Exchange from 2007 to 2011. The study found a negative and statistically significant relationship between capital structure and value-based performance variables including economic value added, market value added, and cash value added. The document provides background on capital structure decision making and reviews several previous related studies that also found negative relationships between capital structure metrics like leverage and performance indicators like return on assets and profitability.
“Can Firm-specific idiosyncratic financial data provide a solution to the mac...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
Has economic value added an impact on market price of share (1)IAEME Publication
This document examines the impact of economic value added (EVA) on the market price of shares using data from Advanced Chemical Industries Limited (ACIL), a leading pharmaceutical company in Bangladesh, from 2006 to 2011. It calculates EVA for ACIL over this period and finds that EVA was positive, indicating the company added value for shareholders. Using statistical analysis techniques including regression and correlation, the study finds a significant positive relationship between EVA and market share price for ACIL. It concludes that EVA has a meaningful impact on share price and can help investors predict future share price trends and make investment decisions.
Has economic value added an impact on market price of sharesIAEME Publication
This document examines the impact of economic value added (EVA) on the market price of shares using data from Advanced Chemical Industries Limited (ACIL), a leading pharmaceutical company in Bangladesh, from 2006 to 2011. It calculates EVA for ACIL over this period and finds that EVA was positive, indicating it added value for shareholders. Using statistical analysis techniques including regression and correlation, the study finds a significant positive relationship between EVA and market share price for ACIL. It concludes that EVA has a meaningful impact on share price and should be used by current and prospective investors to predict future share price trends and make investment decisions.
This document discusses a study on the capital structure determinants of metal, metal products and mining sector firms in India. It aims to assess the impact of firm-specific factors on the capital structure. The study uses regression and correlation analysis of data from 31 firms over 9 years. The results show negative correlations between financial leverage and factors like return on capital employed, profitability and growth. Regression analysis also indicates a significant relationship between these independent variables and financial leverage. The study aims to contribute to understanding capital structure decisions in these industrial sectors in India.
- The document analyzes the relationship between capital structure and firm value for metal, metal products and mining sector firms in India over a nine-year period.
- It finds a negative relationship between return on assets and financial leverage, and a positive relationship between debt-to-assets ratio and financial leverage for these firms.
- Operating profit margin is positively related to financial leverage, while financial leverage and firm size are negatively related. Overall, the study shows capital structure influences firm value in the metal, metal products and mining sectors in India.
Capital structure efficiency of cement industry in tamil naduIAEME Publication
The document summarizes a study on the capital structure efficiency of cement companies in Tamil Nadu over 10 years from 1996-1997 to 2005-2006. The study used Data Envelopment Analysis to evaluate the efficiency of 4 major cement companies - India Cements Limited, Dalmia Cement, Madras Cements Limited, and Chettinadu Cement Corporation Limited. The results showed that the capital structure efficiency scores varied over the years for each company, with most companies having some inefficient years. Cost of funds was found to influence capital structure management efficiency.
Operational efficiency and times series changes in taico bank – auto regressi...iaemedu
This document summarizes a research study on the operational efficiency and time series changes of the Tamilnadu Industrial Cooperative Bank (TAICO Bank) in India over an 11-year period from 1998-2009. The study uses an Auto Regressive Integrated Moving Average (ARIMA) model to analyze changes in 5 key variables (operating profit, operating expenses, capital employed, interest expenses, and gross income) and identify trends. The results of the ARIMA model show significant changes in the 5 variables, with an average annual increase of 11.14%. It is concluded that TAICO Bank has performed financially well over the period of analysis with increasing operational performance.
The study of the relationship between the capital structure and the variables...Alexander Decker
This document discusses a study examining the relationship between capital structure and value-based performance assessment variables in 219 companies listed on the Tehran Stock Exchange from 2007 to 2011. The study found a negative and statistically significant relationship between capital structure and value-based performance variables including economic value added, market value added, and cash value added. The document provides background on capital structure decision making and reviews several previous related studies that also found negative relationships between capital structure metrics like leverage and performance indicators like return on assets and profitability.
“Can Firm-specific idiosyncratic financial data provide a solution to the mac...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
Has economic value added an impact on market price of share (1)IAEME Publication
This document examines the impact of economic value added (EVA) on the market price of shares using data from Advanced Chemical Industries Limited (ACIL), a leading pharmaceutical company in Bangladesh, from 2006 to 2011. It calculates EVA for ACIL over this period and finds that EVA was positive, indicating the company added value for shareholders. Using statistical analysis techniques including regression and correlation, the study finds a significant positive relationship between EVA and market share price for ACIL. It concludes that EVA has a meaningful impact on share price and can help investors predict future share price trends and make investment decisions.
Has economic value added an impact on market price of sharesIAEME Publication
This document examines the impact of economic value added (EVA) on the market price of shares using data from Advanced Chemical Industries Limited (ACIL), a leading pharmaceutical company in Bangladesh, from 2006 to 2011. It calculates EVA for ACIL over this period and finds that EVA was positive, indicating it added value for shareholders. Using statistical analysis techniques including regression and correlation, the study finds a significant positive relationship between EVA and market share price for ACIL. It concludes that EVA has a meaningful impact on share price and should be used by current and prospective investors to predict future share price trends and make investment decisions.
The Impact of Capital Structure on the Performance of Industrial Commodity an...IJEAB
This paper investigates the impact of capital structure on the performance of commodity and service firms listed on the Vietnamese Stock Exchange. Data used in the paper were collected from the 142 firms listed on Ho Chi Minh and Ha Noi Stock Exchange during time 2009-2015. By using the descriptive statistics and linear regression model, the findings shows that there is negative relationship between capital structure (e.i. STD. LTD and DA) and peformance of the firms (i.e. ROE) for the commodity and services firms listed on two given Stock Exchange Market of Vietnam. Following are possible implications for the study.
The Effect of Capital Structure on Profitability of Energy American Firms:inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Working capital management and profitability an empirical analysisIAEME Publication
This document summarizes a study examining the relationship between working capital management and profitability among Indian manufacturing firms. The study uses financial data from 1,198 manufacturing firms over a 5-year period. Correlation analysis found negative relationships between measures of working capital management (debtor's days, inventory days, creditor's days, cash conversion cycle) and firm profitability. Regression analysis will further examine these relationships to determine how adjusting elements of working capital management could impact profitability. The results aim to provide Indian manufacturers insights on variables that influence their profits.
Impact of Firm Specific Factors on Capital Structure Decision: An Empirical S...Waqas Tariq
This document summarizes a study that examines the impact of firm-specific factors on capital structure decisions of companies listed on the Dhaka Stock Exchange in Bangladesh from 2003-2007. The study tests whether factors like profitability, tangibility, non-debt tax shield, growth opportunity, liquidity, earnings volatility, size, dividend payment, managerial ownership, and industry classification significantly impact leverage. Regression analysis found profitability, tangibility, liquidity, and managerial ownership negatively impact leverage, while growth opportunity and non-debt tax shield positively impact leverage. Size, earnings volatility, and dividend payment were not found to be significant. Results also showed debt ratios differ significantly across industries in Bangladesh.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Board size, composition and the performance of private sector banks 2IAEME Publication
This document analyzes the relationship between board size, composition, and performance of private sector banks in India. It first provides background on corporate governance in Indian banks and reviews prior literature on the relationship between board structure and firm performance. The document then outlines the objectives, methodology, and variables of the study. Specifically, the study examines the relationship between board size and composition, meetings, and various performance metrics including return on assets, net profit margin, and interest spread for 8 major private sector banks over a 10-year period. The results of the analysis found a significant relationship between board composition and certain performance indicators in private banks, suggesting board composition impacts bank performance. The private banks were also found to utilize their asset and equity bases more efficiently
A Study on Working Capital Management on M S.SGE Innovative Toolcraftt Pvt. Ltd.ijtsrd
Working Capital is one of the most vital functions of business management. Every organization needs sufficient amount of working capital for extent and improve in nature of business which may be a private or public, whether profit oriented or not. The most critical factor is to be maintaining existence, liquidity, solvency and accomplishment of the any business organization for the proficient working capital management. Ms. R. Mahalakshmi | Dr. S. Venkatesh "A Study on Working Capital Management on M/S.SGE Innovative Toolcraftt Pvt. Ltd." Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-3 , April 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30617.pdf Paper Url :https://www.ijtsrd.com/management/accounting-and-finance/30617/a-study-on-working-capital-management-on-mssge-innovative-toolcraftt-pvt-ltd/ms-r-mahalakshmi
Mergers and Acquisitions in Indian Banking Sector A Case of Bharat Overseas B...ijtsrd
Mergers and Acquisitions MandAs continue to be a significant force in the restructuring of the financial services industry. The Indian Commercial Banking Sector, which has played a pivotal role in the country’s economic development, is currently passing through an exciting and challenging phase. The present research papers studies the impact of MandA on the financial performance of Bharat Overseas Bank and Indian Overseas Bank. The study uses key financial ratios to find the impact of MandA on financial performance of selected banks. Dr. Soniya Gambhir "Mergers and Acquisitions in Indian Banking Sector (A Case of Bharat Overseas Bank and Indian Overseas Bank)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38415.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38415/mergers-and-acquisitions-in-indian-banking-sector-a-case-of-bharat-overseas-bank-and-indian-overseas-bank/dr-soniya-gambhir
This study analyzes how age and job experience impact resistance to change among employees in the banking sector in Albania. It aims to determine if older employees and those with more experience are more resistant to change. The study also seeks to identify ways to reduce resistance based on age and experience. Quantitative and qualitative data was collected through surveys from banking industry employees of varying ages and experience levels. The results show that older employees were generally more resistant to change, while more experienced employees were less resistant. To reduce resistance among older employees, the study recommends clearly explaining the reasons for and goals of changes, and involving them more in the implementation process. For experienced employees, it suggests including them in decision making and allowing them to provide input during changes.
A STUDY ON PERFORMANCE MANAGEMENT IN BMTC WITH SPECIAL REFERENCE TO DIVISIONSIAEME Publication
A financial performance management is essential for every company to know the position of the business in this competitive world which helps them to analyse their strength and weakness. It analyses four years of data. This research study has been done with regards to divisions of BMTC in Bangalore. For the study purpose, secondary data have been collected from the annual report of these divisions for the period of four years starting from 2017-2020. Data has been analysed by applying one-way ANOVA. From the analysis, it has been concluded that there is a statistically significant difference in financial performance of these divisions based on the components like kilometre per litre top up oil, Total Vehicles, average vehicles on road and staff productivity of different zones. The expenses incurred with different zones have been analysed. It has been found from the study BMTC remains in standing Position compared to all other divisions between East, west, north, south and central zones. This also helps us to analyse the revenue and expenditure of the BMTC which gives information about financial health.
International Refereed Journal of Engineering and Science (IRJES)irjes
The core of the vision IRJES is to disseminate new knowledge and technology for the benefit of all, ranging from academic research and professional communities to industry professionals in a range of topics in computer science and engineering. It also provides a place for high-caliber researchers, practitioners and PhD students to present ongoing research and development in these areas.
This study examines how stock liquidity affects corporate risk-taking using China's split share structure reform as a natural experiment. The reform increased stock liquidity by eliminating restrictions on trading shares. The study finds that higher stock liquidity leads to increased corporate risk-taking through two channels: 1) lower costs of capital, as liquidity reduces investment risk and transaction costs, making firms less financially constrained and more tolerant of risky projects, and 2) higher pay-for-performance sensitivity of managers, as liquidity shifts compensation toward stock-based, incentivizing riskier strategies that may boost stock prices. The results provide evidence that capital market development can stimulate long-term economic growth by encouraging appropriate risk-taking.
ANALYSIS OF FACTORS GOVERNING THE MARKET PRICE OF THE SHARES FROM NATIONAL ST...IAEME Publication
Banking systems and financial institutions are integral parts of an economy. Seamless functioning of these sectors is important for an economy to grow. Due to the advent of digital technology, banking and financial services have undergone a massive shift in their mode of operations. New trends are gaining momentum at a fast pace as the customers find it convenient and flexible at the same time. The emergence of financial technology has resulted in the introduction of several technological advancements in the industry. Fintech companies, internet banking and mobile banking are just some examples that mark this shift. The modernization of banking attracted the investors towards banking industry. This paper focuses on the factors governing the market price of the shares in Banking Sector of Companies such as Axis Bank, CUB, Federal Bank, HDFC, ICICI, IndusInd, Karnataka Bank, Kotak, KVB, South Indian Bank. This study has examined the relationship between dependent variables Market Price Per Share (MPS) and independent variables (Dividend Per Share (DPS), Earning per Share (EPS), Net Profit Margin (NPM), Return on Equity (ROE) and Return on Assets (ROA).The study was conducted based on secondary data and the researchers concluded that, there is a significant influence of foresaid factors on the market price of the shares.
This document discusses a study on the capital structure determinants of metal, metal products and mining sector firms in India. It aims to assess the impact of firm-specific factors on the capital structure. The study uses regression and correlation analysis of data from 31 firms over 9 years. The results show negative correlations between financial leverage and factors like return on capital employed, profitability and growth. Regression analysis also indicates a significant relationship between these independent variables and financial leverage. The study aims to contribute to understanding capital structure decisions in these industrial sectors in India.
- The document discusses a study on the determinants of capital structure for firms in the metal, metal products, and mining sectors in India.
- The study uses regression and correlation analysis to analyze the relationship between financial leverage (the dependent variable) and factors like return on net worth, return on capital employed, interest coverage ratio, non-debt tax shield, profitability, collateralizable value of assets, size, and growth (the independent variables).
- The results of the correlation analysis show negative relationships between financial leverage and factors like return on net worth, return on capital employed, interest coverage ratio, non-debt tax shield, and profitability for the sample firms.
Idiosyncratic Effect of Corporate Solvency Management Strategies on Corporate...IOSR Journals
The study identifies and evaluates the association among corporate solvency management strategies and the corporate performance valuation in Chemical industry of Pakistan. The study uses purposive sampling or judgmental sampling for selecting 30 sample companies from the sector; covering 10 years financial statements data ranging from year 2002 to 2011. Balanced panel data is taken for the purpose of study. Levin, Lin & Chu test is used to check the stationarity of data whereas White Test is used to check the heteroskedasticity of data. Panel Least square technique with fixed effects is used to generalize the relationship between studied variables. The study observed that the performance of the chemical sector in terms of market to book value is affected by internal firm and industry specific factors related to solvency management strategic decisions. Findings of the study provide with the overview of historic performance and the potential performance of the selected sector to help policy makers including finance, economics and industry experts for creating value through the idiosyncratic resources.
Interfirm comparison on select private banking companies in indiaIAEME Publication
This document provides an analysis of the financial performance of 10 private banking companies in India from 2007-2008 to 2011-2012 using 7 key financial ratios. The ratios analyzed include net profit ratio, return on total assets, return on shareholders' funds, return on capital employed, asset turnover ratio, current ratio, and operating expenses ratio. The companies' performance on these ratios was evaluated using quartile deviation technique to classify them as having low, average, or high performance. The analysis found that Karur Vysya Bank Ltd and City Union Bank Ltd consistently demonstrated higher performance ratios compared to the other banks.
This document discusses a study examining the link between institutions and industrial development across Indian states. It analyzes three major components of institutions: legal institutions, state intervention, and political institutions. The study uses data on state GDP growth and industrial development levels across states to empirically test the significance of each institutional component in explaining variations. The results suggest state intervention significantly explains GDP growth variation, while all three institutional components highly significantly explain differences in industrial development levels across Indian states. The study aims to analyze the role of different institutional components in state-level industrial development using regression analysis.
Corporate Governance and Risk Management: Evidence From Banking Sector of Pak...Umer Gulzar
This document discusses a study on the impact of corporate governance on risk management in the banking sector of Pakistan. The study aims to examine how various corporate governance mechanisms like board size, board independence, gender diversity on boards, CEO turnover, and audit committee independence impact capital risk, credit risk, and liquidity risk of banks. The methodology involves using panel regression analysis on secondary data from 20 Pakistani banks over 2009-2018. The results found that board independence reduces capital risk, while audit committee independence reduces credit risk and liquidity risk. The document recommends that banks should maintain adequate independent members on boards and audit committees to help manage different types of risks.
The Impact of Capital Structure on the Performance of Industrial Commodity an...IJEAB
This paper investigates the impact of capital structure on the performance of commodity and service firms listed on the Vietnamese Stock Exchange. Data used in the paper were collected from the 142 firms listed on Ho Chi Minh and Ha Noi Stock Exchange during time 2009-2015. By using the descriptive statistics and linear regression model, the findings shows that there is negative relationship between capital structure (e.i. STD. LTD and DA) and peformance of the firms (i.e. ROE) for the commodity and services firms listed on two given Stock Exchange Market of Vietnam. Following are possible implications for the study.
The Effect of Capital Structure on Profitability of Energy American Firms:inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Working capital management and profitability an empirical analysisIAEME Publication
This document summarizes a study examining the relationship between working capital management and profitability among Indian manufacturing firms. The study uses financial data from 1,198 manufacturing firms over a 5-year period. Correlation analysis found negative relationships between measures of working capital management (debtor's days, inventory days, creditor's days, cash conversion cycle) and firm profitability. Regression analysis will further examine these relationships to determine how adjusting elements of working capital management could impact profitability. The results aim to provide Indian manufacturers insights on variables that influence their profits.
Impact of Firm Specific Factors on Capital Structure Decision: An Empirical S...Waqas Tariq
This document summarizes a study that examines the impact of firm-specific factors on capital structure decisions of companies listed on the Dhaka Stock Exchange in Bangladesh from 2003-2007. The study tests whether factors like profitability, tangibility, non-debt tax shield, growth opportunity, liquidity, earnings volatility, size, dividend payment, managerial ownership, and industry classification significantly impact leverage. Regression analysis found profitability, tangibility, liquidity, and managerial ownership negatively impact leverage, while growth opportunity and non-debt tax shield positively impact leverage. Size, earnings volatility, and dividend payment were not found to be significant. Results also showed debt ratios differ significantly across industries in Bangladesh.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Board size, composition and the performance of private sector banks 2IAEME Publication
This document analyzes the relationship between board size, composition, and performance of private sector banks in India. It first provides background on corporate governance in Indian banks and reviews prior literature on the relationship between board structure and firm performance. The document then outlines the objectives, methodology, and variables of the study. Specifically, the study examines the relationship between board size and composition, meetings, and various performance metrics including return on assets, net profit margin, and interest spread for 8 major private sector banks over a 10-year period. The results of the analysis found a significant relationship between board composition and certain performance indicators in private banks, suggesting board composition impacts bank performance. The private banks were also found to utilize their asset and equity bases more efficiently
A Study on Working Capital Management on M S.SGE Innovative Toolcraftt Pvt. Ltd.ijtsrd
Working Capital is one of the most vital functions of business management. Every organization needs sufficient amount of working capital for extent and improve in nature of business which may be a private or public, whether profit oriented or not. The most critical factor is to be maintaining existence, liquidity, solvency and accomplishment of the any business organization for the proficient working capital management. Ms. R. Mahalakshmi | Dr. S. Venkatesh "A Study on Working Capital Management on M/S.SGE Innovative Toolcraftt Pvt. Ltd." Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-3 , April 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30617.pdf Paper Url :https://www.ijtsrd.com/management/accounting-and-finance/30617/a-study-on-working-capital-management-on-mssge-innovative-toolcraftt-pvt-ltd/ms-r-mahalakshmi
Mergers and Acquisitions in Indian Banking Sector A Case of Bharat Overseas B...ijtsrd
Mergers and Acquisitions MandAs continue to be a significant force in the restructuring of the financial services industry. The Indian Commercial Banking Sector, which has played a pivotal role in the country’s economic development, is currently passing through an exciting and challenging phase. The present research papers studies the impact of MandA on the financial performance of Bharat Overseas Bank and Indian Overseas Bank. The study uses key financial ratios to find the impact of MandA on financial performance of selected banks. Dr. Soniya Gambhir "Mergers and Acquisitions in Indian Banking Sector (A Case of Bharat Overseas Bank and Indian Overseas Bank)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38415.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38415/mergers-and-acquisitions-in-indian-banking-sector-a-case-of-bharat-overseas-bank-and-indian-overseas-bank/dr-soniya-gambhir
This study analyzes how age and job experience impact resistance to change among employees in the banking sector in Albania. It aims to determine if older employees and those with more experience are more resistant to change. The study also seeks to identify ways to reduce resistance based on age and experience. Quantitative and qualitative data was collected through surveys from banking industry employees of varying ages and experience levels. The results show that older employees were generally more resistant to change, while more experienced employees were less resistant. To reduce resistance among older employees, the study recommends clearly explaining the reasons for and goals of changes, and involving them more in the implementation process. For experienced employees, it suggests including them in decision making and allowing them to provide input during changes.
A STUDY ON PERFORMANCE MANAGEMENT IN BMTC WITH SPECIAL REFERENCE TO DIVISIONSIAEME Publication
A financial performance management is essential for every company to know the position of the business in this competitive world which helps them to analyse their strength and weakness. It analyses four years of data. This research study has been done with regards to divisions of BMTC in Bangalore. For the study purpose, secondary data have been collected from the annual report of these divisions for the period of four years starting from 2017-2020. Data has been analysed by applying one-way ANOVA. From the analysis, it has been concluded that there is a statistically significant difference in financial performance of these divisions based on the components like kilometre per litre top up oil, Total Vehicles, average vehicles on road and staff productivity of different zones. The expenses incurred with different zones have been analysed. It has been found from the study BMTC remains in standing Position compared to all other divisions between East, west, north, south and central zones. This also helps us to analyse the revenue and expenditure of the BMTC which gives information about financial health.
International Refereed Journal of Engineering and Science (IRJES)irjes
The core of the vision IRJES is to disseminate new knowledge and technology for the benefit of all, ranging from academic research and professional communities to industry professionals in a range of topics in computer science and engineering. It also provides a place for high-caliber researchers, practitioners and PhD students to present ongoing research and development in these areas.
This study examines how stock liquidity affects corporate risk-taking using China's split share structure reform as a natural experiment. The reform increased stock liquidity by eliminating restrictions on trading shares. The study finds that higher stock liquidity leads to increased corporate risk-taking through two channels: 1) lower costs of capital, as liquidity reduces investment risk and transaction costs, making firms less financially constrained and more tolerant of risky projects, and 2) higher pay-for-performance sensitivity of managers, as liquidity shifts compensation toward stock-based, incentivizing riskier strategies that may boost stock prices. The results provide evidence that capital market development can stimulate long-term economic growth by encouraging appropriate risk-taking.
ANALYSIS OF FACTORS GOVERNING THE MARKET PRICE OF THE SHARES FROM NATIONAL ST...IAEME Publication
Banking systems and financial institutions are integral parts of an economy. Seamless functioning of these sectors is important for an economy to grow. Due to the advent of digital technology, banking and financial services have undergone a massive shift in their mode of operations. New trends are gaining momentum at a fast pace as the customers find it convenient and flexible at the same time. The emergence of financial technology has resulted in the introduction of several technological advancements in the industry. Fintech companies, internet banking and mobile banking are just some examples that mark this shift. The modernization of banking attracted the investors towards banking industry. This paper focuses on the factors governing the market price of the shares in Banking Sector of Companies such as Axis Bank, CUB, Federal Bank, HDFC, ICICI, IndusInd, Karnataka Bank, Kotak, KVB, South Indian Bank. This study has examined the relationship between dependent variables Market Price Per Share (MPS) and independent variables (Dividend Per Share (DPS), Earning per Share (EPS), Net Profit Margin (NPM), Return on Equity (ROE) and Return on Assets (ROA).The study was conducted based on secondary data and the researchers concluded that, there is a significant influence of foresaid factors on the market price of the shares.
This document discusses a study on the capital structure determinants of metal, metal products and mining sector firms in India. It aims to assess the impact of firm-specific factors on the capital structure. The study uses regression and correlation analysis of data from 31 firms over 9 years. The results show negative correlations between financial leverage and factors like return on capital employed, profitability and growth. Regression analysis also indicates a significant relationship between these independent variables and financial leverage. The study aims to contribute to understanding capital structure decisions in these industrial sectors in India.
- The document discusses a study on the determinants of capital structure for firms in the metal, metal products, and mining sectors in India.
- The study uses regression and correlation analysis to analyze the relationship between financial leverage (the dependent variable) and factors like return on net worth, return on capital employed, interest coverage ratio, non-debt tax shield, profitability, collateralizable value of assets, size, and growth (the independent variables).
- The results of the correlation analysis show negative relationships between financial leverage and factors like return on net worth, return on capital employed, interest coverage ratio, non-debt tax shield, and profitability for the sample firms.
Idiosyncratic Effect of Corporate Solvency Management Strategies on Corporate...IOSR Journals
The study identifies and evaluates the association among corporate solvency management strategies and the corporate performance valuation in Chemical industry of Pakistan. The study uses purposive sampling or judgmental sampling for selecting 30 sample companies from the sector; covering 10 years financial statements data ranging from year 2002 to 2011. Balanced panel data is taken for the purpose of study. Levin, Lin & Chu test is used to check the stationarity of data whereas White Test is used to check the heteroskedasticity of data. Panel Least square technique with fixed effects is used to generalize the relationship between studied variables. The study observed that the performance of the chemical sector in terms of market to book value is affected by internal firm and industry specific factors related to solvency management strategic decisions. Findings of the study provide with the overview of historic performance and the potential performance of the selected sector to help policy makers including finance, economics and industry experts for creating value through the idiosyncratic resources.
Interfirm comparison on select private banking companies in indiaIAEME Publication
This document provides an analysis of the financial performance of 10 private banking companies in India from 2007-2008 to 2011-2012 using 7 key financial ratios. The ratios analyzed include net profit ratio, return on total assets, return on shareholders' funds, return on capital employed, asset turnover ratio, current ratio, and operating expenses ratio. The companies' performance on these ratios was evaluated using quartile deviation technique to classify them as having low, average, or high performance. The analysis found that Karur Vysya Bank Ltd and City Union Bank Ltd consistently demonstrated higher performance ratios compared to the other banks.
This document discusses a study examining the link between institutions and industrial development across Indian states. It analyzes three major components of institutions: legal institutions, state intervention, and political institutions. The study uses data on state GDP growth and industrial development levels across states to empirically test the significance of each institutional component in explaining variations. The results suggest state intervention significantly explains GDP growth variation, while all three institutional components highly significantly explain differences in industrial development levels across Indian states. The study aims to analyze the role of different institutional components in state-level industrial development using regression analysis.
Corporate Governance and Risk Management: Evidence From Banking Sector of Pak...Umer Gulzar
This document discusses a study on the impact of corporate governance on risk management in the banking sector of Pakistan. The study aims to examine how various corporate governance mechanisms like board size, board independence, gender diversity on boards, CEO turnover, and audit committee independence impact capital risk, credit risk, and liquidity risk of banks. The methodology involves using panel regression analysis on secondary data from 20 Pakistani banks over 2009-2018. The results found that board independence reduces capital risk, while audit committee independence reduces credit risk and liquidity risk. The document recommends that banks should maintain adequate independent members on boards and audit committees to help manage different types of risks.
This document summarizes a research study on the relationship between working capital management and profitability among Indian manufacturing firms. The study uses financial data from 1,198 manufacturing firms over a 5-year period. The study aims to analyze how variables affecting working capital management influence firm profitability. Specifically, it examines the impact of days of debtors, days of inventory, days of creditors, and cash conversion cycle on profitability. The results of the study provide insights for Indian manufacturing firms on managing working capital to improve profitability.
Working capital management profitability an empirical analysisIAEME Publication
This document summarizes a study examining the relationship between working capital management and profitability among Indian manufacturing firms. The study uses financial data from 1,198 manufacturing firms over a 5-year period. Correlation analysis found negative relationships between measures of working capital management (debtor's days, inventory days, creditor's days, cash conversion cycle) and firm profitability. Regression analysis will further examine these relationships to determine how adjusting elements of working capital management could impact profitability. The results aim to provide Indian manufacturers insights on variables that influence their profits.
Effect of Leverage on Expected Stock Returns and Size of the FirmAakash Kumar
This document presents a study on the effect of leverage on expected stock returns and firm size for companies listed on the KSE100 index in Pakistan. It reviews previous literature that has found mixed results on the relationship between leverage and various performance measures. The study uses linear regression to analyze the impact of leverage on earnings-to-price ratio as a proxy for expected stock returns and market value as a proxy for firm size. Preliminary results are presented along with conclusions and recommendations for further study.
Determinants of firms’ profitability in pakistanAlexander Decker
This document summarizes a research study that analyzed the determinants of profitability of Pakistani firms. The study examined the relationship between capital structure, financial leverage, firm size and corporate profitability. Data was collected from 50 Pakistani companies over 7 years. Regression analysis found a positive correlation between financial leverage and profitability, and between firm size and profitability. It found a negative correlation between capital structure and profitability. The study concluded additional variables could improve the model for determining corporate profitability.
Intellectual capital: A modern model to measure the value creation in a businessAI Publications
Using a sample of 92 patients, this study looked into the impact of intellectual capital on the efficiency of private hospitals. The researchers used a quantitative approach to assess the effect of Intellectual capital (Human capital, Structural capital, and Relational capital) on long-term competitive advantage in private hospitals in Iraq's Kurdistan region. The research sample was selected using a random sampling method and conducted in various locations across Iraq's Kurdistan province. A total of 110 questionnaires were distributed, but only 92 people correctly completed them. The findings revealed that the most effective relationship with firm success was between human capital as an element of Intellectual capital, while the least effective relationship was between ownership as an element of Intellectual capital. Furthermore, our findings indicate that finance managers should use debts as a last resort in terms of intellectual capital. Finally, our research can be improved by using more controlled variables, a greater sample size, and data from a longer time span in the regression models. Other methods and steps can be used as well.
A spill over relationship corporate governance and investorAlexander Decker
This document summarizes a study that investigated the relationship between corporate governance and investor reaction on the Karachi Stock Exchange from 2004-2013. The study used data from 114 manufacturing companies and measured corporate governance using factors like board independence, board size, ownership structure, and audit committee independence. It found a negative but insignificant correlation between corporate governance and investor reaction. Regression analyses also showed an insignificant relationship. The study concluded that corporate governance did not significantly impact investor reaction in the Pakistani context over the period studied.
A spill over relationship corporate governance and investorAlexander Decker
This document summarizes a study that investigated the relationship between corporate governance and investor reaction on the Karachi Stock Exchange from 2004-2013. The study used data from 114 manufacturing companies and measured corporate governance using factors like board independence, board size, ownership structure, and audit committee independence. It found a negative but insignificant relationship between corporate governance and investor reaction based on univariate and multivariate regression analyses. The results contradict previous studies that found a significant positive relationship, suggesting that in the Pakistani market, investors may not have full information about corporate governance practices.
Modelling of Enablers of Innovation for SMEs: An ISM Approach IRJET Journal
This document presents a study that uses Interpretive Structural Modelling (ISM) to examine the relationships between eight key enablers of innovation for small and medium enterprises (SMEs) in India. The eight enablers identified are: change management, risk taking capacity, funding, availability of trained personnel, customer responsiveness, market, government policy, and legal structure. An ISM approach is applied to develop a model of the contextual relationships between the enablers. The results of the ISM analysis find that change management and risk taking capacity are the highest rated enablers. However, the model is not statistically validated. The study aims to help understand the levels and interactions of factors that enable innovation for S
An Empirical Analysis on the Nature of Relationship between Capital Structure...iosrjce
The financing decision with regard to capital structure theory of finance has been a topic of many
theories and their conflicting output for past many years. This paper aims to analyse the nature of relationship
between the capital structure of a firm and its performance. The data of 40 firms excluding financial services
firms listed on Nifty indices on National Stock Exchange is studied (The composition of 50 firms on Nifty
represents a well branch out index reflecting precisely the overall market conditions). Financial services firms
have been excluded from purview of this paper, as they are in the business of collecting money and investing in
financial assets rather than producing goods, hence follow a unique business valuation model. Further financial
services sector being one of the most sensitive sectors. This paper analyzes a period of 13 years (2001-2014)
covering the phases of a business cycle starting from boom (2001/02-2006/07), recession (2007/08-2008/09)
and then recovery (2009/10-2013/14). The complete business cycle will aid to demonstrate the results more
accurately. This paper also surveys the topical developments in the empirical capital structure research. The
data for a period of 13 years is analysed using descriptive statistics, correlation and multiple regression
techniques. For research purpose, the ratios such as debt-equity ratio, debt-asset ratio and long term debt are
taken as independent variables whereas Net Profit, Net Profit Margin, ROCE, ROE and ROA are the ratios
taken as dependent variables.
This document outlines a study examining the impact of capital structure on firm value and investment decisions, with a focus on the moderating role of corporate tax changes. The study aims to analyze 200 Pakistani firms from 2003-2017 using panel data methodology and GMM regression. It develops four hypotheses related to the effects of capital structure on firm value and investment, and the moderating impact of taxes. A literature review covers prior research on the relationships between capital structure, firm value, investment decisions, and taxes. The methodology section outlines the sample selection, data collection from annual reports, and analysis approach.
Intellectual Capital and Its Impact on Financial Performance: A Study of Oil ...Muhammad Arslan
The study examines the Intellectual Capital (IC) performance of oil and gas sector of Pakistan over the period of 2007 to 2011 and its impact on corporate financial returns. The study uses value added intellectual coefficient (VAICit™) to measure IC performance and its various components of VAICit™ like (HCEit, SCEit and CEEit) and its impact on financial performance (ROEit, ROIit and EPSit). Micro panel data of oil and gas sector registered in KSE-100 index is collected from their consolidated annual reports over the period of 2007 to 2011. The IC performance is measured by Ante Pulic Model (VAICit™) and its effect on corporate returns (ROEit, ROIit and EPSit) is tested by Random Effect Model estimation. Hausman test suggests that study accepts null hypothesis (Chi2. Prop > 0.05) where for ui is uncorrelated with regressor means that random effect is preferred versus alternative fixed effect in all the proposed research models. The study reveals that VA is considered an important component for measuring the VAICit™ performance and it has positive and significant relationship with firm’s profitability (EPSit) and HCEit and SCEit have positive and significant relationship with firm’s financial performance (ROEit and ROIit) respectively. So, this study explores that Intellectual Capital Efficiency (ICE) has relatively larger contribution for measuring the VAICit™ performance where HCEit and SCEit execute substantive role to accelerate the financial performance of oil and gas sector of Pakistan as compare to tangible assets.
This document discusses a study on the determinants of capital structure for agriculture sector firms in India. It finds that return on net worth, non-debt tax shield, profitability, and growth are positively related to financial leverage for these firms. Meanwhile, return on capital employed, interest cover ratio, collateralizable value of assets, and size are negatively related to financial leverage. The study uses correlation and regression analysis of data from 18 agriculture sector firms over 9 years to analyze the relationships between leverage and various firm-specific determinants.
A Critical Study On Impact Of Working Capital Management On Profitability Of ...Elizabeth Williams
This document presents a study on the impact of working capital management on the profitability of manufacturing firms in India, focusing specifically on paint companies. It begins with an abstract that summarizes the purpose and findings of the study.
The introduction provides background on working capital and its relationship to liquidity and profitability. It states that the study aims to analyze the relationship between working capital variables and profitability in selected paint companies.
The literature review discusses several prior studies that have examined relationships between working capital management, liquidity, and profitability. The research gap identified is that prior studies have not adequately examined profitability issues in the Indian paint industry and how controlling working capital components could impact losses.
The study objectives and
Similar to Capital strucure and its impact on financial performance of indian steel industry (20)
Submission Deadline: 30th September 2022
Acceptance Notification: Within Three Days’ time period
Online Publication: Within 24 Hrs. time Period
Expected Date of Dispatch of Printed Journal: 5th October 2022
MODELING AND ANALYSIS OF SURFACE ROUGHNESS AND WHITE LATER THICKNESS IN WIRE-...IAEME Publication
White layer thickness (WLT) formed and surface roughness in wire electric discharge turning (WEDT) of tungsten carbide composite has been made to model through response surface methodology (RSM). A Taguchi’s standard Design of experiments involving five input variables with three levels has been employed to establish a mathematical model between input parameters and responses. Percentage of cobalt content, spindle speed, Pulse on-time, wire feed and pulse off-time were changed during the experimental tests based on the Taguchi’s orthogonal array L27 (3^13). Analysis of variance (ANOVA) revealed that the mathematical models obtained can adequately describe performance within the parameters of the factors considered. There was a good agreement between the experimental and predicted values in this study.
A STUDY ON THE REASONS FOR TRANSGENDER TO BECOME ENTREPRENEURSIAEME Publication
The study explores the reasons for a transgender to become entrepreneurs. In this study transgender entrepreneur was taken as independent variable and reasons to become as dependent variable. Data were collected through a structured questionnaire containing a five point Likert Scale. The study examined the data of 30 transgender entrepreneurs in Salem Municipal Corporation of Tamil Nadu State, India. Simple Random sampling technique was used. Garrett Ranking Technique (Percentile Position, Mean Scores) was used as the analysis for the present study to identify the top 13 stimulus factors for establishment of trans entrepreneurial venture. Economic advancement of a nation is governed upon the upshot of a resolute entrepreneurial doings. The conception of entrepreneurship has stretched and materialized to the socially deflated uncharted sections of transgender community. Presently transgenders have smashed their stereotypes and are making recent headlines of achievements in various fields of our Indian society. The trans-community is gradually being observed in a new light and has been trying to achieve prospective growth in entrepreneurship. The findings of the research revealed that the optimistic changes are taking place to change affirmative societal outlook of the transgender for entrepreneurial ventureship. It also laid emphasis on other transgenders to renovate their traditional living. The paper also highlights that legislators, supervisory body should endorse an impartial canons and reforms in Tamil Nadu Transgender Welfare Board Association.
BROAD UNEXPOSED SKILLS OF TRANSGENDER ENTREPRENEURSIAEME Publication
Since ages gender difference is always a debatable theme whether caused by nature, evolution or environment. The birth of a transgender is dreadful not only for the child but also for their parents. The pain of living in the wrong physique and treated as second class victimized citizen is outrageous and fully harboured with vicious baseless negative scruples. For so long, social exclusion had perpetuated inequality and deprivation experiencing ingrained malign stigma and besieged victims of crime or violence across their life spans. They are pushed into the murky way of life with a source of eternal disgust, bereft sexual potency and perennial fear. Although they are highly visible but very little is known about them. The common public needs to comprehend the ravaged arrogance on these insensitive souls and assist in integrating them into the mainstream by offering equal opportunity, treat with humanity and respect their dignity. Entrepreneurship in the current age is endorsing the gender fairness movement. Unstable careers and economic inadequacy had inclined one of the gender variant people called Transgender to become entrepreneurs. These tiny budding entrepreneurs resulted in economic transition by means of employment, free from the clutches of stereotype jobs, raised standard of living and handful of financial empowerment. Besides all these inhibitions, they were able to witness a platform for skill set development that ignited them to enter into entrepreneurial domain. This paper epitomizes skill sets involved in trans-entrepreneurs of Thoothukudi Municipal Corporation of Tamil Nadu State and is a groundbreaking determination to sightsee various skills incorporated and the impact on entrepreneurship.
DETERMINANTS AFFECTING THE USER'S INTENTION TO USE MOBILE BANKING APPLICATIONSIAEME Publication
The banking and financial services industries are experiencing increased technology penetration. Among them, the banking industry has made technological advancements to better serve the general populace. The economy focused on transforming the banking sector's system into a cashless, paperless, and faceless one. The researcher wants to evaluate the user's intention for utilising a mobile banking application. The study also examines the variables affecting the user's behaviour intention when selecting specific applications for financial transactions. The researcher employed a well-structured questionnaire and a descriptive study methodology to gather the respondents' primary data utilising the snowball sampling technique. The study includes variables like performance expectations, effort expectations, social impact, enabling circumstances, and perceived risk. Each of the aforementioned variables has a major impact on how users utilise mobile banking applications. The outcome will assist the service provider in comprehending the user's history with mobile banking applications.
ANALYSE THE USER PREDILECTION ON GPAY AND PHONEPE FOR DIGITAL TRANSACTIONSIAEME Publication
Technology upgradation in banking sector took the economy to view that payment mode towards online transactions using mobile applications. This system enabled connectivity between banks, Merchant and user in a convenient mode. there are various applications used for online transactions such as Google pay, Paytm, freecharge, mobikiwi, oxygen, phonepe and so on and it also includes mobile banking applications. The study aimed at evaluating the predilection of the user in adopting digital transaction. The study is descriptive in nature. The researcher used random sample techniques to collect the data. The findings reveal that mobile applications differ with the quality of service rendered by Gpay and Phonepe. The researcher suggest the Phonepe application should focus on implementing the application should be user friendly interface and Gpay on motivating the users to feel the importance of request for money and modes of payments in the application.
VOICE BASED ATM FOR VISUALLY IMPAIRED USING ARDUINOIAEME Publication
The prototype of a voice-based ATM for visually impaired using Arduino is to help people who are blind. This uses RFID cards which contain users fingerprint encrypted on it and interacts with the users through voice commands. ATM operates when sensor detects the presence of one person in the cabin. After scanning the RFID card, it will ask to select the mode like –normal or blind. User can select the respective mode through voice input, if blind mode is selected the balance check or cash withdraw can be done through voice input. Normal mode procedure is same as the existing ATM.
IMPACT OF EMOTIONAL INTELLIGENCE ON HUMAN RESOURCE MANAGEMENT PRACTICES AMONG...IAEME Publication
There is increasing acceptability of emotional intelligence as a major factor in personality assessment and effective human resource management. Emotional intelligence as the ability to build capacity, empathize, co-operate, motivate and develop others cannot be divorced from both effective performance and human resource management systems. The human person is crucial in defining organizational leadership and fortunes in terms of challenges and opportunities and walking across both multinational and bilateral relationships. The growing complexity of the business world requires a great deal of self-confidence, integrity, communication, conflict and diversity management to keep the global enterprise within the paths of productivity and sustainability. Using the exploratory research design and 255 participants the result of this original study indicates strong positive correlation between emotional intelligence and effective human resource management. The paper offers suggestions on further studies between emotional intelligence and human capital development and recommends for conflict management as an integral part of effective human resource management.
VISUALISING AGING PARENTS & THEIR CLOSE CARERS LIFE JOURNEY IN AGING ECONOMYIAEME Publication
Our life journey, in general, is closely defined by the way we understand the meaning of why we coexist and deal with its challenges. As we develop the "inspiration economy", we could say that nearly all of the challenges we have faced are opportunities that help us to discover the rest of our journey. In this note paper, we explore how being faced with the opportunity of being a close carer for an aging parent with dementia brought intangible discoveries that changed our insight of the meaning of the rest of our life journey.
A STUDY ON THE IMPACT OF ORGANIZATIONAL CULTURE ON THE EFFECTIVENESS OF PERFO...IAEME Publication
The main objective of this study is to analyze the impact of aspects of Organizational Culture on the Effectiveness of the Performance Management System (PMS) in the Health Care Organization at Thanjavur. Organizational Culture and PMS play a crucial role in present-day organizations in achieving their objectives. PMS needs employees’ cooperation to achieve its intended objectives. Employees' cooperation depends upon the organization’s culture. The present study uses exploratory research to examine the relationship between the Organization's culture and the Effectiveness of the Performance Management System. The study uses a Structured Questionnaire to collect the primary data. For this study, Thirty-six non-clinical employees were selected from twelve randomly selected Health Care organizations at Thanjavur. Thirty-two fully completed questionnaires were received.
Living in 21st century in itself reminds all of us the necessity of police and its administration. As more and more we are entering into the modern society and culture, the more we require the services of the so called ‘Khaki Worthy’ men i.e., the police personnel. Whether we talk of Indian police or the other nation’s police, they all have the same recognition as they have in India. But as already mentioned, their services and requirements are different after the like 26th November, 2008 incidents, where they without saving their own lives has sacrificed themselves without any hitch and without caring about their respective family members and wards. In other words, they are like our heroes and mentors who can guide us from the darkness of fear, militancy, corruption and other dark sides of life and so on. Now the question arises, if Gandhi would have been alive today, what would have been his reaction/opinion to the police and its functioning? Would he have some thing different in his mind now what he had been in his mind before the partition or would he be going to start some Satyagraha in the form of some improvement in the functioning of the police administration? Really these questions or rather night mares can come to any one’s mind, when there is too much confusion is prevailing in our minds, when there is too much corruption in the society and when the polices working is also in the questioning because of one or the other case throughout the India. It is matter of great concern that we have to thing over our administration and our practical approach because the police personals are also like us, they are part and parcel of our society and among one of us, so why we all are pin pointing towards them.
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...IAEME Publication
The goal of this study was to see how talent management affected employee retention in the selected IT organizations in Chennai. The fundamental issue was the difficulty to attract, hire, and retain talented personnel who perform well and the gap between supply and demand of talent acquisition and retaining them within the firms. The study's main goals were to determine the impact of talent management on employee retention in IT companies in Chennai, investigate talent management strategies that IT companies could use to improve talent acquisition, performance management, career planning and formulate retention strategies that the IT firms could use. The respondents were given a structured close-ended questionnaire with the 5 Point Likert Scale as part of the study's quantitative research design. The target population consisted of 289 IT professionals. The questionnaires were distributed and collected by the researcher directly. The Statistical Package for Social Sciences (SPSS) was used to collect and analyse the questionnaire responses. Hypotheses that were formulated for the various areas of the study were tested using a variety of statistical tests. The key findings of the study suggested that talent management had an impact on employee retention. The studies also found that there is a clear link between the implementation of talent management and retention measures. Management should provide enough training and development for employees, clarify job responsibilities, provide adequate remuneration packages, and recognise employees for exceptional performance.
ATTRITION IN THE IT INDUSTRY DURING COVID-19 PANDEMIC: LINKING EMOTIONAL INTE...IAEME Publication
Globally, Millions of dollars were spent by the organizations for employing skilled Information Technology (IT) professionals. It is costly to replace unskilled employees with IT professionals possessing technical skills and competencies that aid in interconnecting the business processes. The organization’s employment tactics were forced to alter by globalization along with technological innovations as they consistently diminish to remain lean, outsource to concentrate on core competencies along with restructuring/reallocate personnel to gather efficiency. As other jobs, organizations or professions have become reasonably more appropriate in a shifting employment landscape, the above alterations trigger both involuntary as well as voluntary turnover. The employee view on jobs is also afflicted by the COVID-19 pandemic along with the employee-driven labour market. So, having effective strategies is necessary to tackle the withdrawal rate of employees. By associating Emotional Intelligence (EI) along with Talent Management (TM) in the IT industry, the rise in attrition rate was analyzed in this study. Only 303 respondents were collected out of 350 participants to whom questionnaires were distributed. From the employees of IT organizations located in Bangalore (India), the data were congregated. A simple random sampling methodology was employed to congregate data as of the respondents. Generating the hypothesis along with testing is eventuated. The effect of EI and TM along with regression analysis between TM and EI was analyzed. The outcomes indicated that employee and Organizational Performance (OP) were elevated by effective EI along with TM.
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...IAEME Publication
By implementing talent management strategy, organizations would have the option to retain their skilled professionals while additionally working on their overall performance. It is the course of appropriately utilizing the ideal individuals, setting them up for future top positions, exploring and dealing with their performance, and holding them back from leaving the organization. It is employee performance that determines the success of every organization. The firm quickly obtains an upper hand over its rivals in the event that its employees having particular skills that cannot be duplicated by the competitors. Thus, firms are centred on creating successful talent management practices and processes to deal with the unique human resources. Firms are additionally endeavouring to keep their top/key staff since on the off chance that they leave; the whole store of information leaves the firm's hands. The study's objective was to determine the impact of talent management on organizational performance among the selected IT organizations in Chennai. The study recommends that talent management limitedly affects performance. On the off chance that this talent is appropriately management and implemented properly, organizations might benefit as much as possible from their maintained assets to support development and productivity, both monetarily and non-monetarily.
A STUDY OF VARIOUS TYPES OF LOANS OF SELECTED PUBLIC AND PRIVATE SECTOR BANKS...IAEME Publication
Banking regulations act of India, 1949 defines banking as “acceptance of deposits for the purpose of lending or investment from the public, repayment on demand or otherwise and withdrawable through cheques, drafts order or otherwise”, the major participants of the Indian financial system are commercial banks, the financial institution encompassing term lending institutions. Investments institutions, specialized financial institution and the state level development banks, non banking financial companies (NBFC) and other market intermediaries such has the stock brokers and money lenders are among the oldest of the certain variants of NBFC and the oldest market participants. The asset quality of banks is one of the most important indicators of their financial health. The Indian banking sector has been facing severe problems of increasing Non- Performing Assets (NPAs). The NPAs growth directly and indirectly affects the quality of assets and profitability of banks. It also shows the efficiency of banks credit risk management and the recovery effectiveness. NPA do not generate any income, whereas, the bank is required to make provisions for such as assets that why is a double edge weapon. This paper outlines the concept of quality of bank loans of different types like Housing, Agriculture and MSME loans in state Haryana of selected public and private sector banks. This study is highlighting problems associated with the role of commercial bank in financing Small and Medium Scale Enterprises (SME). The overall objective of the research was to assess the effect of the financing provisions existing for the setting up and operations of MSMEs in the country and to generate recommendations for more robust financing mechanisms for successful operation of the MSMEs, in turn understanding the impact of MSME loans on financial institutions due to NPA. There are many research conducted on the topic of Non- Performing Assets (NPA) Management, concerning particular bank, comparative study of public and private banks etc. In this paper the researcher is considering the aggregate data of selected public sector and private sector banks and attempts to compare the NPA of Housing, Agriculture and MSME loans in state Haryana of public and private sector banks. The tools used in the study are average and Anova test and variance. The findings reveal that NPA is common problem for both public and private sector banks and is associated with all types of loans either that is housing loans, agriculture loans and loans to SMES. NPAs of both public and private sector banks show the increasing trend. In 2010-11 GNPA of public and private sector were at same level it was 2% but after 2010-11 it increased in many fold and at present there is GNPA in some more than 15%. It shows the dark area of Indian banking sector.
EXPERIMENTAL STUDY OF MECHANICAL AND TRIBOLOGICAL RELATION OF NYLON/BaSO4 POL...IAEME Publication
An experiment conducted in this study found that BaSO4 changed Nylon 6's mechanical properties. By changing the weight ratios, BaSO4 was used to make Nylon 6. This Researcher looked into how hard Nylon-6/BaSO4 composites are and how well they wear. Experiments were done based on Taguchi design L9. Nylon-6/BaSO4 composites can be tested for their hardness number using a Rockwell hardness testing apparatus. On Nylon/BaSO4, the wear behavior was measured by a wear monitor, pinon-disc friction by varying reinforcement, sliding speed, and sliding distance, and the microstructure of the crack surfaces was observed by SEM. This study provides significant contributions to ultimate strength by increasing BaSO4 content up to 16% in the composites, and sliding speed contributes 72.45% to the wear rate
ROLE OF SOCIAL ENTREPRENEURSHIP IN RURAL DEVELOPMENT OF INDIA - PROBLEMS AND ...IAEME Publication
The majority of the population in India lives in villages. The village is the back bone of the country. Village or rural industries play an important role in the national economy, particularly in the rural development. Developing the rural economy is one of the key indicators towards a country’s success. Whether it be the need to look after the welfare of the farmers or invest in rural infrastructure, Governments have to ensure that rural development isn’t compromised. The economic development of our country largely depends on the progress of rural areas and the standard of living of rural masses. Village or rural industries play an important role in the national economy, particularly in the rural development. Rural entrepreneurship is based on stimulating local entrepreneurial talent and the subsequent growth of indigenous enterprises. It recognizes opportunity in the rural areas and accelerates a unique blend of resources either inside or outside of agriculture. Rural entrepreneurship brings an economic value to the rural sector by creating new methods of production, new markets, new products and generate employment opportunities thereby ensuring continuous rural development. Social Entrepreneurship has the direct and primary objective of serving the society along with the earning profits. So, social entrepreneurship is different from the economic entrepreneurship as its basic objective is not to earn profits but for providing innovative solutions to meet the society needs which are not taken care by majority of the entrepreneurs as they are in the business for profit making as a sole objective. So, the Social Entrepreneurs have the huge growth potential particularly in the developing countries like India where we have huge societal disparities in terms of the financial positions of the population. Still 22 percent of the Indian population is below the poverty line and also there is disparity among the rural & urban population in terms of families living under BPL. 25.7 percent of the rural population & 13.7 percent of the urban population is under BPL which clearly shows the disparity of the poor people in the rural and urban areas. The need to develop social entrepreneurship in agriculture is dictated by a large number of social problems. Such problems include low living standards, unemployment, and social tension. The reasons that led to the emergence of the practice of social entrepreneurship are the above factors. The research problem lays upon disclosing the importance of role of social entrepreneurship in rural development of India. The paper the tendencies of social entrepreneurship in India, to present successful examples of such business for providing recommendations how to improve situation in rural areas in terms of social entrepreneurship development. Indian government has made some steps towards development of social enterprises, social entrepreneurship, and social in- novation, but a lot remains to be improved.
OPTIMAL RECONFIGURATION OF POWER DISTRIBUTION RADIAL NETWORK USING HYBRID MET...IAEME Publication
Distribution system is a critical link between the electric power distributor and the consumers. Most of the distribution networks commonly used by the electric utility is the radial distribution network. However in this type of network, it has technical issues such as enormous power losses which affect the quality of the supply. Nowadays, the introduction of Distributed Generation (DG) units in the system help improve and support the voltage profile of the network as well as the performance of the system components through power loss mitigation. In this study network reconfiguration was done using two meta-heuristic algorithms Particle Swarm Optimization and Gravitational Search Algorithm (PSO-GSA) to enhance power quality and voltage profile in the system when simultaneously applied with the DG units. Backward/Forward Sweep Method was used in the load flow analysis and simulated using the MATLAB program. Five cases were considered in the Reconfiguration based on the contribution of DG units. The proposed method was tested using IEEE 33 bus system. Based on the results, there was a voltage profile improvement in the system from 0.9038 p.u. to 0.9594 p.u.. The integration of DG in the network also reduced power losses from 210.98 kW to 69.3963 kW. Simulated results are drawn to show the performance of each case.
APPLICATION OF FRUGAL APPROACH FOR PRODUCTIVITY IMPROVEMENT - A CASE STUDY OF...IAEME Publication
Manufacturing industries have witnessed an outburst in productivity. For productivity improvement manufacturing industries are taking various initiatives by using lean tools and techniques. However, in different manufacturing industries, frugal approach is applied in product design and services as a tool for improvement. Frugal approach contributed to prove less is more and seems indirectly contributing to improve productivity. Hence, there is need to understand status of frugal approach application in manufacturing industries. All manufacturing industries are trying hard and putting continuous efforts for competitive existence. For productivity improvements, manufacturing industries are coming up with different effective and efficient solutions in manufacturing processes and operations. To overcome current challenges, manufacturing industries have started using frugal approach in product design and services. For this study, methodology adopted with both primary and secondary sources of data. For primary source interview and observation technique is used and for secondary source review has done based on available literatures in website, printed magazines, manual etc. An attempt has made for understanding application of frugal approach with the study of manufacturing industry project. Manufacturing industry selected for this project study is Mahindra and Mahindra Ltd. This paper will help researcher to find the connections between the two concepts productivity improvement and frugal approach. This paper will help to understand significance of frugal approach for productivity improvement in manufacturing industry. This will also help to understand current scenario of frugal approach in manufacturing industry. In manufacturing industries various process are involved to deliver the final product. In the process of converting input in to output through manufacturing process productivity plays very critical role. Hence this study will help to evolve status of frugal approach in productivity improvement programme. The notion of frugal can be viewed as an approach towards productivity improvement in manufacturing industries.
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Embedded machine learning-based road conditions and driving behavior monitoringIJECEIAES
Car accident rates have increased in recent years, resulting in losses in human lives, properties, and other financial costs. An embedded machine learning-based system is developed to address this critical issue. The system can monitor road conditions, detect driving patterns, and identify aggressive driving behaviors. The system is based on neural networks trained on a comprehensive dataset of driving events, driving styles, and road conditions. The system effectively detects potential risks and helps mitigate the frequency and impact of accidents. The primary goal is to ensure the safety of drivers and vehicles. Collecting data involved gathering information on three key road events: normal street and normal drive, speed bumps, circular yellow speed bumps, and three aggressive driving actions: sudden start, sudden stop, and sudden entry. The gathered data is processed and analyzed using a machine learning system designed for limited power and memory devices. The developed system resulted in 91.9% accuracy, 93.6% precision, and 92% recall. The achieved inference time on an Arduino Nano 33 BLE Sense with a 32-bit CPU running at 64 MHz is 34 ms and requires 2.6 kB peak RAM and 139.9 kB program flash memory, making it suitable for resource-constrained embedded systems.
Discover the latest insights on Data Driven Maintenance with our comprehensive webinar presentation. Learn about traditional maintenance challenges, the right approach to utilizing data, and the benefits of adopting a Data Driven Maintenance strategy. Explore real-world examples, industry best practices, and innovative solutions like FMECA and the D3M model. This presentation, led by expert Jules Oudmans, is essential for asset owners looking to optimize their maintenance processes and leverage digital technologies for improved efficiency and performance. Download now to stay ahead in the evolving maintenance landscape.
Comparative analysis between traditional aquaponics and reconstructed aquapon...bijceesjournal
The aquaponic system of planting is a method that does not require soil usage. It is a method that only needs water, fish, lava rocks (a substitute for soil), and plants. Aquaponic systems are sustainable and environmentally friendly. Its use not only helps to plant in small spaces but also helps reduce artificial chemical use and minimizes excess water use, as aquaponics consumes 90% less water than soil-based gardening. The study applied a descriptive and experimental design to assess and compare conventional and reconstructed aquaponic methods for reproducing tomatoes. The researchers created an observation checklist to determine the significant factors of the study. The study aims to determine the significant difference between traditional aquaponics and reconstructed aquaponics systems propagating tomatoes in terms of height, weight, girth, and number of fruits. The reconstructed aquaponics system’s higher growth yield results in a much more nourished crop than the traditional aquaponics system. It is superior in its number of fruits, height, weight, and girth measurement. Moreover, the reconstructed aquaponics system is proven to eliminate all the hindrances present in the traditional aquaponics system, which are overcrowding of fish, algae growth, pest problems, contaminated water, and dead fish.
Electric vehicle and photovoltaic advanced roles in enhancing the financial p...IJECEIAES
Climate change's impact on the planet forced the United Nations and governments to promote green energies and electric transportation. The deployments of photovoltaic (PV) and electric vehicle (EV) systems gained stronger momentum due to their numerous advantages over fossil fuel types. The advantages go beyond sustainability to reach financial support and stability. The work in this paper introduces the hybrid system between PV and EV to support industrial and commercial plants. This paper covers the theoretical framework of the proposed hybrid system including the required equation to complete the cost analysis when PV and EV are present. In addition, the proposed design diagram which sets the priorities and requirements of the system is presented. The proposed approach allows setup to advance their power stability, especially during power outages. The presented information supports researchers and plant owners to complete the necessary analysis while promoting the deployment of clean energy. The result of a case study that represents a dairy milk farmer supports the theoretical works and highlights its advanced benefits to existing plants. The short return on investment of the proposed approach supports the paper's novelty approach for the sustainable electrical system. In addition, the proposed system allows for an isolated power setup without the need for a transmission line which enhances the safety of the electrical network
Software Engineering and Project Management - Introduction, Modeling Concepts...Prakhyath Rai
Introduction, Modeling Concepts and Class Modeling: What is Object orientation? What is OO development? OO Themes; Evidence for usefulness of OO development; OO modeling history. Modeling
as Design technique: Modeling, abstraction, The Three models. Class Modeling: Object and Class Concept, Link and associations concepts, Generalization and Inheritance, A sample class model, Navigation of class models, and UML diagrams
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Design and optimization of ion propulsion dronebjmsejournal
Electric propulsion technology is widely used in many kinds of vehicles in recent years, and aircrafts are no exception. Technically, UAVs are electrically propelled but tend to produce a significant amount of noise and vibrations. Ion propulsion technology for drones is a potential solution to this problem. Ion propulsion technology is proven to be feasible in the earth’s atmosphere. The study presented in this article shows the design of EHD thrusters and power supply for ion propulsion drones along with performance optimization of high-voltage power supply for endurance in earth’s atmosphere.
Applications of artificial Intelligence in Mechanical Engineering.pdfAtif Razi
Historically, mechanical engineering has relied heavily on human expertise and empirical methods to solve complex problems. With the introduction of computer-aided design (CAD) and finite element analysis (FEA), the field took its first steps towards digitization. These tools allowed engineers to simulate and analyze mechanical systems with greater accuracy and efficiency. However, the sheer volume of data generated by modern engineering systems and the increasing complexity of these systems have necessitated more advanced analytical tools, paving the way for AI.
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What is artificial intelligence? Artificial intelligence is the ability of a computer or computer-controlled robot to perform tasks that are commonly associated with the intellectual processes characteristic of humans, such as the ability to reason.
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Using data from 41 years in Patna’ India’ the study’s goal is to analyze the trends of how often it rains on a weekly, seasonal, and annual basis (1981−2020). First, utilizing the intensity-duration-frequency (IDF) curve and the relationship by statistically analyzing rainfall’ the historical rainfall data set for Patna’ India’ during a 41 year period (1981−2020), was evaluated for its quality. Changes in the hydrologic cycle as a result of increased greenhouse gas emissions are expected to induce variations in the intensity, length, and frequency of precipitation events. One strategy to lessen vulnerability is to quantify probable changes and adapt to them. Techniques such as log-normal, normal, and Gumbel are used (EV-I). Distributions were created with durations of 1, 2, 3, 6, and 24 h and return times of 2, 5, 10, 25, and 100 years. There were also mathematical correlations discovered between rainfall and recurrence interval.
Findings: Based on findings, the Gumbel approach produced the highest intensity values, whereas the other approaches produced values that were close to each other. The data indicates that 461.9 mm of rain fell during the monsoon season’s 301st week. However, it was found that the 29th week had the greatest average rainfall, 92.6 mm. With 952.6 mm on average, the monsoon season saw the highest rainfall. Calculations revealed that the yearly rainfall averaged 1171.1 mm. Using Weibull’s method, the study was subsequently expanded to examine rainfall distribution at different recurrence intervals of 2, 5, 10, and 25 years. Rainfall and recurrence interval mathematical correlations were also developed. Further regression analysis revealed that short wave irrigation, wind direction, wind speed, pressure, relative humidity, and temperature all had a substantial influence on rainfall.
Originality and value: The results of the rainfall IDF curves can provide useful information to policymakers in making appropriate decisions in managing and minimizing floods in the study area.
An improved modulation technique suitable for a three level flying capacitor ...IJECEIAES
This research paper introduces an innovative modulation technique for controlling a 3-level flying capacitor multilevel inverter (FCMLI), aiming to streamline the modulation process in contrast to conventional methods. The proposed
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integration into modern power electronic systems. Through the amalgamation of
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Introduction- e - waste – definition - sources of e-waste– hazardous substances in e-waste - effects of e-waste on environment and human health- need for e-waste management– e-waste handling rules - waste minimization techniques for managing e-waste – recycling of e-waste - disposal treatment methods of e- waste – mechanism of extraction of precious metal from leaching solution-global Scenario of E-waste – E-waste in India- case studies.
2. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 30 editor@iaeme.com
REVIEW OF RELATED LITERATURE
B. Nimalathasan and Valeriu Brabete (2010)1
pointed out capital structure and its impact on
profitability: a study of listed manufacturing companies in Sri Lanka. The analysis of listed
manufacturing companies shows that Dept equity ratio is positively and strongly associated to all
profitability ratios (Gross Profit, Operating Profit and Net Profit Ratios).
Hurdle (1973)2
revealed that financial leverage effects negatively with profitability in accordance
with two stage least squares(2SLS) and positively according to ordinary least squares(OLS).
Mc Connell and Servaes (1995)3
and Agarwal and Zhao (2007)4
presented additional evidence on
how the growth of the firm may affect on the relationship between capital structure and performance.
High growth firms effect negatively between financial leverage and firm value, while low growth firms
effect positively.
Choudhury (1993)5
mentioned that the decreased use of debt tends to decrease profitability of a
company. Because due to lack of adequate finances it has to give up some of the profitable opportunities
and vice-versa.
Banu (1990)6
stated that the capital structure of a firm has a direct impact on its profitability. She
suggested that the concerned financial executives should put emphasis on various aspects of capital
structure. Otherwise the capital structure of the enterprise will be unsound producing adverse impact on
its profitability.
As contained in Bauer (2004)7
, from the agency cost theory view point, firms with a more profit
should have higher leverage for income they shield from taxes. It holds the view that more profit firms
should make use of more debts purposely to serve as a disciplinary measure for the managers. Empirical
evidences from the previous studies are in consistence with the Agency Cost Theory for their reporting of
negative relationship between capital structure and profitability.
Friend and Lang (1988)8
; Barton et al., (1989)9
; Chittenden et. al., (1996)10
; Jordan et al.,
(1998)11
; Shyam-Sunder and Myers (1999)12
; Mishra and Mc Conaughy (1999)13
; Michaelas et al.,
(1999)14
are reported the negative relationship between capital structure and profitability but Petersen and
Rajan, (1994)15
reported a positive relationship.
RESEARCH OBJECTIVES
The objectives of the study are:
To identify the company’s capital structure.
To find out the relationship between capital structure and financial performance.
To examine the impact of capital structure on financial performance.
HYPOTHESIS
The following hypotheses are specified for the research study.
There is a negative relationship between capital structure and financial performance.
Capital structure has an impact on financial performance.
CONCEPTUALIZATION MODEL
According to the review of related literature and hypothesis, the following conceptual modal was
formulated to outline the impact of capital structure on financial performance.
3. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 31 editor@iaeme.com
Independent Variable Dependent Variable
Figure No.1
RESEARCH METHODOLOGY
a) Data Collection
The study is mainly based on secondary data. Relevant secondary data have been collected from Books,
Periodicals, Libraries of various Research Institutions, Financial reports, BSE Official Directory, NSE,
Guidelines and rules, and Internet etc. as and when required.
b) Period of study
The time period of the research is designed from 2007 up to 2012.
c) Sampling Design
The researcher has selected only 13 major steel Industries as a sample on the basis of availability of data
and listed in BSE and NSE. The companies that have been chosen for the study are: Steel Authority of
India Limited (SAIL), BHUSHAN Steel Ltd, VISA Steel Ltd, TATA Steel Ltd, JSW Steel Ltd, JINDAL
Steel and Power Ltd, FACOR Steels Limited, Jindal Stainless Limited (JSL), MSP Steel and Power
Limited, NOVA Iron and Steel Ltd, Steel Exchange India Ltd (SEIL), Uttam Galva Steels Limited
(UGSL) and Mahindra Ugine Steel Company Limited (MUSCO).
d) Mode of Analysis
In order to derive the accurate results, the researcher are applied various statistical tools like Mean, Min,
Max, Standard Deviation (S.D) to analysis the consistency and Correlation Matrix, Multiple liner
Regression, ANOVA are employed for test of hypothesis with the help of statistical package SPSS 22.
e) Research Model
Correlation analysis was used to examine the relationship between dependent and independent variables.
Regression analysis was used to find out the effect of capital structure on financial performance of
selected Indian steel Industries.
Capital structure (Financial debt ratio, Total debt equity ratio, Total asset debt ratio, Interest
coverage ratio ) are the independent variables and profitability as a indicator of financial performance
(Operating profit margin, Return on asset, Return on equity and Return on capital employed) are the
dependent variables.
Financial debt ratio
Total debt equity ratio
Total asset debt ratio
Interest coverage ratio
Operating profit margin
Return on asset
Return on equity
Return on capital employed
Capital Structure Financial Performance
4. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 32 editor@iaeme.com
RESULTS AND INTERPRETATION
a) Descriptive statistics
Table No.1: Descriptive Statistics
N Minimum Maximum Mean Std. Deviation
Operating Profit Margin (OPM) 13 -5.47 36.18 15.1092 12.38048
Return on Capital Employed (ROCE) 13 -2.14 27.96 10.6423 8.73365
Return on Equity (ROE) 13 -31.45 23.22 4.5954 16.40723
Return on Asset (ROA) 13 0.35 100.08 50.6846 29.72284
Total Debt Equity Ratio (TDER) 13 0.02 4.33 2.0523 1.39847
Total Asset Debt Ratio (TADR) 13 1.30 25.97 4.7100 6.64696
Interest Coverage Ratio (ICR) 13 0.17 24.20 5.0354 6.29564
Financial Debt Ratio (FDR) 13 0.27 0.79 0.5792 0.17666
Valid N (list wise) 13
The mean, min and max values with standard deviation of different variables of interest in the
study during the period 2007 to 2012 are presented in the Table No.1. In addition, it shows the min and
max values of each variable which essentially gives an indication of how wide ranging each respective
variable can be. All variables were calculated using financial ratios.
b) Correlation Analysis
Table No.2: Correlations Matrix
TDER TADR ICR FDR
OPM Pearson Correlation -0.157 -0.513 0.510 -0.249
Sig. (2-tailed) 0.609 0.073 0.075 0.413
N 13 13 13 13
ROCE Pearson Correlation -0.516 -0.291 0.702**
-0.512
Sig. (2-tailed) 0.071 0.334 0.007 0.074
N 13 13 13 13
ROE Pearson Correlation -0.186 -0.614*
0.490 -0.128
Sig. (2-tailed) 0.542 0.025 0.089 0.677
N 13 13 13 13
ROA Pearson Correlation 0.053 -0.454 0.403 -0.004
Sig. (2-tailed) 0.864 0.119 0.172 0.991
N 13 13 13 13
**. Correlation is significant at the 0.01 level (2-tailed).
*. Correlation is significant at the 0.05 level (2-tailed).
From the above table No. 2, we can found out a negative relationship exists between OPM with
TDER, TADR and FDR. There is a positive relationship between OPM and ICR. And it not significant.
There exist negative relationship between ROCE with TDER, TADR and FDR. And it not significant.
ROCE has a positive and strong relationship with ICR and Correlation is significant at the 0.01 level. The
coefficient of determination is 0.007. That is only 0.7 % of variance in the ROEC is accounted by the
ICR. There is a negative relationship between ROE with TDER, TADR and FDR. The Correlation is
significant between ROE and TADR at the 0.05 level. The coefficient of determination is 0.025. That is
only 0.2.5 % of variance in the ROE is accounted by the TADR. There exist positive relationship
between ROE and ICR. And it is not significant. we also observed that a negative relationship exists
between ROA with TADR and FDR. ROA has a positive relationship with TDER and ICR. And it is not
significant.
5. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 33 editor@iaeme.com
c) Regression Analysis
We develop 4 model for the study. The specified model for the study is:
Profitability = β0 + β1TEDR+ β2TADR+ β3ICR+ β4FDR+ e
where:
β0 = Intercept
β1, β2, β3, β4 = coefficient of the explanatory variable
TEDR = Total debt equity ratio
TADR = Total asset debt ratio
ICR = Interest coverage ratio
FDR = Financial debt ratio
e = Error term
Model 1.
Operating Profit Margin (OPM) = β0 + β1TEDR+ β2TADR+ β3ICR+ β4FDR+ e
Table No.3: Model Summary
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
1 0.831a
0.690 0.535 8.44429
a. Predictors: (Constant), FDR, ICR, TADR, TDER
The above table No.3, indicates the R square is 0.69. It means 69 % of variance of OPM is
accurate by the capital structure and remaining 31 % of variance with OPM is attributed to other factors.
This showed that capital structure has at least 69% significant influence on the OPM of the firms.
Table No.4: ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 1268.868 4 317.217 4.449 0.035b
Residual 570.448 8 71.306
Total 1839.316 12
a. Dependent Variable: OPM
b. Predictors: (Constant), FDR, ICR, TADR, TDER
The table No.4 explains the most possible combination of capital structure that could contribute to
the relationship with the OPM. The F value of 4.449 and P value of 0.035 (P<0.05) in the ANOVA table
says that the model is statistically significant. Thus There is a significant impact of capital structure on
OPM.
Table No.5: Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
1 (Constant) 58.554 25.228 2.321 0.049
TDER 2.704 5.798 0.305 0.466 0.653
TADR -1.690 0.508 -0.907 -3.323 0.010
ICR 0.071 0.599 0.036 0.119 0.908
FDR -71.462 54.787 -1.020 -1.304 0.228
a. Dependent Variable: OPM
6. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 34 editor@iaeme.com
Table No. 5 presents the data findings on the OPM regression model. According to the table the
findings indicated that the intercept was 58.554, that is, when all the factors are equated to zero the OPM
will be 58.554, while the coefficients for TDER will be 2.704, TADR proportion -1.69, ICR proportion
0.071 and FDR proportion -71.462.
OPM= 58.554 + 2.704TDER - 1.69TADR + 0.071ICR - 71.462FDR + e
According to the model, an increase in the level of TDER brings about a 2.704 increase in OPM,
it implying that an increase in the TDER is associated with increase in profitability. An increase in the
TADR on the other hand leads to an decrease of -1.69 in OPM. The model further shows that an increase
in ICR brings about a increase of 0.071 in OPM. This depicts that increase in ICR influence OPM thus
profitability positively. An increase in FDR brings 71.462 decrease in OPM. This can be explained by the
fact that FDR are relatively expensive and thus employing high proportions of them could lead to low
profitability.
Model 2.
Return on Capital Employed (ROCE) = β0 + β1TEDR+ β2TADR+ β3ICR+ β4FDR+ e
Table No.6: Model Summary
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
2 0.943a
0.888 0.833 3.57269
a. Predictors: (Constant), FDR, ICR, TADR, TDER
The above table No.6, manifested the R square is 0.943. It shows the 94.3% of variance of ROCE
is accurate by the capital structure and remaining 5.7% of variance with ROCE is ascribed to other
factors. This indicated that capital structure has at least 94.3% significant influence on the ROCE of the
companies.
Table No.7: ANOVAa
Model Sum of Squares df Mean Square F Sig.
2 Regression 813.208 4 203.302 15.928 0.001b
Residual 102.113 8 12.764
Total 915.321 12
a. Dependent Variable: ROCE
b. Predictors: (Constant), FDR, ICR, TADR, TDER
The table No.7 expressed the most possible combination of capital structure that could contribute
to the relationship with the ROCE. The F value of 15.928 and P value of 0.001 (P<0.05) in the ANOVA
table says that the model is statistically significant. Thus There is a significant impact of capital structure
on ROCE.
Table No.8: Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
2 (Constant) 12.696 10.674 1.189 0.268
TDER -6.858 2.453 -1.098 -2.796 0.023
TADR -0.848 0.215 -0.645 -3.940 0.004
ICR 0.705 0.253 0.508 2.782 0.024
FDR 21.517 23.180 0.435 0.928 0.380
a. Dependent Variable: ROCE
7. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 35 editor@iaeme.com
Table No. 8 indicated the data findings on the ROCE regression model. According to the table
the findings witnessed that the intercept was 12.696, that is, when all the factors are equated to zero the
ROCE will be 12.696, while the coefficients for TDER will be -6.858, TADR proportion -0.848, ICR
proportion 0.705 and FDR proportion 21.517.
ROCE= 12.696 - 6.858TDER - 0.848TADR + 0.705ICR + 21.517FDR + e
According to the model, an increase in the level of TDER brings about a 6.858 decrease in ROCE,
it implying that an increase in the TDER is associated with decrease in profitability. An increase in the
TADR on the other hand leads to an decrease of 0.848 in ROCE. The model further shows that an
increase in ICR brings about a increase of 0.705 in ROCE. This depicts that increase in ICR influence
ROCE thus profitability positively. An increase in FDR brings 21.517 increase in ROCE. Thus
employing high proportions of FDR could lead to high profitability.
Model 3.
Return on Equity (ROE) = β0 + β1TEDR+ β2TADR+ β3ICR+ β4FDR+ e
Table No.9: Model Summary
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
3 .937a
.878 .817 7.01727
a. Predictors: (Constant), FDR, ICR, TADR, TDER
The above table No.9, showed the R square is 0.937. It indicates the 93.7% of variance of ROE is
accurate by the capital structure and remaining 6.3% of variance with ROE is attributed to other factors.
This indicated that capital structure has at least 93.7% significant influence on the ROE of the
organization.
Table No.10: ANOVAa
Model Sum of Squares df Mean Square F Sig.
3 Regression 2836.429 4 709.107 14.400 0.001b
Residual 393.937 8 49.242
Total 3230.366 12
a. Dependent Variable: ROE
b. Predictors: (Constant), FDR, ICR, TADR, TDER
The table No.10 showed the most possible combination of capital structure that could contribute
to the relationship with the ROE. The F value of 14.4 and P value of 0.001 (P<0.05) in the ANOVA table
says that the model is statistically significant. Thus There is a significant impact of capital structure on
ROE.
Table No.11: Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
3 (Constant) -9.048 20.965 -0.432 0.677
TDER -16.037 4.818 -1.367 -3.328 0.010
TADR -2.080 0.423 -0.843 -4.922 0.001
ICR 1.198 0.498 0.460 2.406 0.043
FDR 86.872 45.529 0.935 1.908 0.093
a. Dependent Variable: ROE
8. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 36 editor@iaeme.com
Table No. 11 showed the data findings on the ROE regression model. According to the table the
findings manifested that the intercept was -9.048, that is, when all the factors are equated to zero the ROE
will be -9.048, while the coefficients for TDER will be -16.037, TADR proportion -2.080, ICR
proportion 1.198 and FDR proportion 86.872.
ROE= -9.048 - 16.037TDER - 2.080TADR + 1.198ICR + 86.872FDR + e
According to the model, an increase in the level of TDER brings about a 16.037 decrease in ROE,
it implying that an increase in the TDER is associated with decrease in profitability. An increase in the
TADR on the other hand leads to an decrease of 2.080 in ROE. The model further shows that an increase
in ICR brings about a increase of 1.198 in ROE. This depicts that increase in ICR influence ROE thus
profitability positively. An increase in FDR brings 86.872 increase in ROE. Thus employing high
proportions of FDR could lead to high profitability.
Model 4.
Return on Asset (ROA) = β0 + β1TEDR+ β2TADR+ β3ICR+ β4FDR+ e
Table No.12: Model Summary
Model R R Square
Adjusted R
Square
Std. Error of the
Estimate
4 0.600a
0.360 0.040 29.11912
a. Predictors: (Constant), FDR, ICR, TADR, TDER
The above table No.12, manifested the R square is 0.600. It implies the 60% of variance of ROA
is accurate by the capital structure and remaining 40% of variance with ROA is attributed to other factors.
This indicated that capital structure has at least 60% significant influence on the ROA of the organization.
Table No.13: ANOVAa
Model Sum of Squares df Mean Square F Sig.
4 Regression 3817.977 4 954.494 1.126 0.409b
Residual 6783.386 8 847.923
Total 10601.363 12
a. Dependent Variable: ROA
b. Predictors: (Constant), FDR, ICR, TADR, TDER
The table No.13 expressed the most possible combination of capital structure that could contribute
to the relationship with the ROA. The F value of 1.126 and P value of 0.409 (P<0.05) in the ANOVA
table says that the model is statistically insignificant. Thus There is a no significant impact of capital
structure on ROA.
Table No.14: Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
4 (Constant) 56.831 86.996 0.653 0.532
TDER -2.079 19.993 -0.098 -0.104 0.920
TADR -2.211 1.753 -0.494 -1.261 0.243
ICR 1.648 2.066 0.349 0.798 0.448
FDR 0.404 188.928 0.002 0.002 0.998
a. Dependent Variable: ROA
9. Capital Strucure and Its Impact on Financial Performance Of Indian Steel Industry, Ata Takeh , Dr. Jubiliy
Navaprabha, Journal Impact Factor (2015): 7.9270 Calculated By Gisi (www.jifactor.com)
www.iaeme.com/ijm.asp 37 editor@iaeme.com
Table No. 14 indicated the data findings on the ROA regression model. According to the table the
findings showed that the intercept was -56.831, that is, when all the factors are equated to zero the ROA
will be 56.831, while the coefficients for TDER will be -2.079, TADR proportion -2.211, ICR proportion
1.648 and FDR proportion 0.404.
ROA= 56.831 - 2.079TDER - 2.211TADR + 1.648ICR + 0.404FDR + e
According to the model, an increase in the level of TDER brings about a 2.079 decrease in ROA,
it implying that an increase in the TDER is associated with decrease in profitability. An increase in the
TADR on the other hand leads to an decrease of 2.211 in ROA. The model further indicates that an
increase in ICR brings about a increase of 1.648 in ROA. This depicts that increase in ICR influence
ROA thus profitability positively. An increase in FDR brings 0.404 increase in ROA.
CONCLUSION
This paper examined capital structure and its impact on financial performance of Indian steel
Industry. The Correlation results confirmed that a negative relationship exists between OPM with TDER,
TADR and FDR. There is a positive relationship between OPM and ICR. There exist negative
relationship between ROCE with TDER, TADR and FDR. ROCE has a positive and strong relationship
with ICR and Correlation is significant at the 0.01 level. The coefficient of determination is 0.007. That is
only 0.7 % of variance in the ROEC is accounted by the ICR. There is a negative relationship between
ROE with TDER, TADR and FDR. The Correlation is significant between ROE and TADR at the 0.05
level. The coefficient of determination is 0.025. That is only 0.2.5 % of variance in the ROE is accounted
by the TADR. There exist positive relationship between ROE and ICR. we also observed that a negative
relationship exists between ROA with TADR and FDR. ROA has a positive relationship with TDER and
ICR. And it is not significant. Therefore, there is negative relationship between capital structure and
financial performance of Indian steel Industry. The result of multiple regression and ANOVA indicated
that There is a significant impact of capital structure on OPM, ROCE, ROE. There is a no significant
impact of capital structure on ROA. Thus capital structure has a great impact on financial performance of
the Indian steel industry.
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