Economic Value Added (EVA) and Shareholders Wealth Creation: A Factor Analytic Approach

Corporate performance is affected by various factors ranging from company specific, industry specific and economic variables. There had been wide acceptance on the objective of the firm to maximize the value. Among the set of popular value based management, Economic Value Added (EVA) is the most prominent. Therefore, in this study, an attempt has been made whether EVA has got a better predictive power of selected automobile companies in India. In order to disclose the factors contribute much towards shareholders wealth maximization, factor analysis has been done. The results of the study showed that out of the eight variables, three factors have been extracted and these three factors put together explain 69.902 per cent of the total variance. Further, sales and profit after tax are found to have a stronger relationship with EVA. Key Words Economic value added, Factor analysis, Shareholders wealth, Value based management and Market value adde

HET acid based oligoesters – TGA/FTIR studies

One of the important reactive halogenated dicarboxylic acids used in the synthesis of flame retardant unsaturated polyester resins is 1,4,5,6,7,7-hexachlorobicyclo [2.2.1] hept-5-ene-2,3-dicarboxylic acid (HET acid). In the present investigation four different oligoesters are synthesized using HET acid as the diacid component and 1,2-ethane diol, 1,2-propane diol, 1,3-propane diol and 1,4-butane diol as the aliphatic diols. Melt condensation technique in vacuum is used for the synthesis of the oligoesters. The number average molecular weights of the oligoesters are determined using end group analysis. The degree of polymerization is estimated to be 3–5. The structural characterization is done using FTIR and NMR (1H and 13C) techniques. In the present investigation, TGA-FTIR studies for the different oligoesters are carried out in nitrogen atmosphere. The materials are heated from ambient to 600 °C at a heating rate of 20 °C/min. The main volatile products identified are CO, HCl, H2O, CO2, hexachlorocyclopentadiene and HET acid/anhydride. The evolution profile of these materials with respect to the structure of the oligoesters is discussed in detail and presented. The importance of β-hydrogens in the diol component and the plausible mechanism for the flame retardant behavior of these oligoesters are presented

Comparison of Multi Criteria Decision Making Methods SAW and ARAS: An Application to Performance of Indian Pharmaceutical Companies

While assessing the performances of companies, the decision makers to take not only a single criterion for making the right decisions in to account, but also a number of other relevant criteria that could affect the performance. Because when it is necessary to make the best selection among several option, Multiple-Criteria Decision Making (MCDM) methods are used. This study is to provide insight in to the applicability of method Simple Additive Weightings Method (SAW) and Additive Ratio Assessment (ARAS) method under MCDM techniques to evaluate the performance of Indian Pharmaceutical companies during the study period 2006-2019. The seventeen evaluation criteria’s were used in the application. The constructed model was analysed using both SAW and ARAS method. The study results showed that the best performance belongs to Glico Smith Kline Pharma Limited in SAW method and Sun Pharmaceutical Industries Ltd in ARAS method and worst performance belongs to Ranbaxy Laboratories Limited in both methods. By comparison, both methods revealed the similar rankings of companies during the study period