Share holding Pattern and Firm Performance

Corporate Governance deals with the issue of how suppliers of finance to corporations assure themselves of getting a return on their investment. Several Studies have examined the relationship between ownership structure and firm performance. Using di erent data samples most of the studies provide general support for the argument that increase in managerial ownership increases firm performance. However, these results have been questioned recently. This study examines empirically the effects of ownership structure on the firm performance for a large sample of Indian Corporate Firms, from an `agency perspective'. We examine the effect of interactions between corporate, foreign, financial institutions, and managerial ownership on firm performance. We provide empirical evidence, which suggests that firm size and age in positively related to the firm performance. Using panel data framework, we show that a large fraction of cross-sectional variation, in firm performance, found in several studies, is explained by unobserved firm heterogeneity, rather than the ownership structure. We do not find any evidence that the differences in ownership structure, affect firm performance; after controlling for observed firm characteristics and firm fixed effects.corporate governance, shareholding pattern and firm performance

A Panel Data Analysis of General Elections Under Multi Party Electoral College

We analyze the probability of an incumbents winning in the consecutive election, under the assumption that all individual candidates are equally likely (i.e. random selection) when they are from the same party. We estimate the probability of winning by ruling party. Using Indian panel data from 1967-1999. We find that incumbents have better log-odds if they contest on behalf of national parties , researved seats and with higher polling percentage.electoral system, incumbents, GEE-population averaged model and panel data

Corporate Governance Mechanisms and Firm Financing in India

This study investigates the firm financing patterns in India and the role of corporate governance mechanisms. We use firm-level time series data of nearly 2000 listed companies from 1994 through 2000, to analyze the firm’s corporate financing behavior in connection with its corporate governance arrangements, specially its shareholding pattern. Our results show that the capital structure of the firm is non-linearly linked to its corporate governance mechanisms (ownership structure). We find that firms with weaker corporate governance mechanisms (dispersed shareholding pattern, in particular measured by the entrenchment effects of group affiliation) tend to have a higher level of debt. Firms with higher foreign ownership or with low institutional ownership tend to have lower debt level. We do not find any significant relationship between ownership of directors and corporate with the firm financing in India. Overall, the findings presented in the paper provide evidence of definite role of corporate governance mechanisms in firm’s financing decisions in India.Corporate Governance, Ownership Structure, Firm Financing, Capital Structure, Debt vs. Equity, and India

Does Corporate Governance Influence Firm Value? Evidence from Indian Firms

This paper examines empirically the effects of ownership structure on the firm performance for a panel of Indian corporate firms, from a corporate governance perspective. We examine the effect of interactions between corporate, foreign, institutional, and directorial ownership on firm performance. Using firm level panel data framework, we show that a large fraction of cross-sectional variation, in firm performance, can be explained by unobserved firm heterogeneity. We also provide evidence that the shareholding by institutional investors and managers affect firm performance non-linearly, after controlling for observed firm characteristics and unobserved firm heterogeneity. Institutional investors monitor the firm once their stake is more than 14 percent in the firm, and directors have a positive effect on firm performance after 25 percent of the ownership in the firm. We also find that the equity ownership by dominant group influences firm-performance, only in case of directorial ownership. We find no evidence in favor of endogeneity of ownership structure. In this paper, we examine whether differences in ownership structure across firms can explain their performance differences in an emerging economy like India. Using detailed ownership structure of more than 2000 Indian corporate firms over the period 1994-2000, we provide answer to some of the questions raised herewith. Does ownership structure matter? If it does, then, whether government ownership is more effective than private (including foreign) ownership in maximizing firm value? Does the identity of shareholder matter? What is the comparative efficiency of several forms of private ownership? What is the preferred ownership structure for privately held firms? Is ownership structure really endogenous? Can ownership be a tool to control agency cost? These are some of the important questions, which researchers are trying to explore in the recent literature of corporate finance. In this context, we investigate Indian corporate firms in order to provide new evidence on how ownership structure influence firm value. Corporate Governance is the system of control mechanisms, through which “the suppliers of finance to corporations assure themselves of getting a return on their investmentâ€, (Shleifer and Vishny (1997)). The classical problem lies within the separation of ownership and control, i.e. the agency cost resulting from a divergence of interest between the owners and the managers of the firm (Jensen and Meckling (1976))

Corporate Governance and Dividends Payout in India

This paper investigates the association between the corporate governance and the dividends payout policy for a panel of Indian corporate firms over the period 1994-2000. We explain the differences in the dividend payout behavior of the firms with the help of firm’s financial structure, investments opportunities, dividend history, earnings trend, and the ownership structure. We find a positive association of dividends with earnings and dividends trend. Debt equity ratio is found to be negatively associated, whereas past investment opportunities exert a positive impact on dividends. Ownership by the corporate and directors is positively related with dividends payout in level, and corporate ownership is negatively related in square. Institutional ownership has inverse effect on dividends in comparison to corporate ownership in levels as well as in its squares. We find no evidence in favor of association between foreign ownership and divided payout growth.Corporate Governance, Ownership Structure, Dividends Payout, and India

Incidence of HIV infection in eastern Uttar Pradesh: HIV counseling and testing services record based retrospective study

Background: India has approximately 2.4 million of people living with HIV and out of these two thirds live in rural areas. This study may yield significant data to understand epidemiology of HIV/AIDS in this region that would help in designing techniques for effective implementation to prevent this infection.Methods: The present study was a comprehensive retrospective hospital-based investigation of the HIV infection in eastern Uttar Pradesh, India based on a large number of clinical samples at HCTS centre, representing different geographic regions and has been functional since 2002, conducting HIV tests, counselling of patients as well as maintains proper records.Results: A total of 444 HIV positive clients were registered in this retrospective study. The male and female ratio among all positive clients was 1.67:1 and the most common age group for both the genders was 35-49 years. Among 444 HIV positive clients, HIV-TB co-infection found in 72 (16.21%) cases. Out of 444 clients, 177 (40%) and 167 (38%) found extremely immunocompromised with low CD4 cells count in range between of 0-100 cells/mm3 and >100-350 cells/mm3 respectively. Mortality was seen in 72 (16%) out of 444 HIV positive clients.Conclusions: There is an urgent need of information, education about this disease and by providing suitable occupation or to make them aware, which will markedly help in preventing the spread of HIV pandemic in this geographical region

Emotional intelligence and job satisfaction among staff nurses: a cross-sectional study

Background: Emotional intelligence and job satisfaction are topics of great interest in today's workplace. They provide a competitive edge in personal and professional life. However, there is scanty evidence in the Indian scenario that explores the assessment of these two notions among nurses. Therefore; this study was conducted to exhume the data regarding the assessment of Emotional intelligence and job satisfaction among nurses. The study aimed to identify the emotional intelligence and job satisfaction among nurses in selected hospitals of Udaipur. Methods: This cross-sectional study was carried out among 100 nurses at tertiary care teaching hospital from January 2021 to July 2021. Convenience sampling technique was employed for sample selection. Standardized questionnaire Schutte Self Report Emotional Intelligence Test (SSEIT) and Minnesota Satisfaction Questionnaire (MSQ) were used for data collection. Descriptive and inferential statistics (chi-square) were used for data analysis. Results: Most of the staff nurses (59%) experience high level of emotional intelligence. Emotional intelligence has found significant association with age, professional qualification, co-worker relationship and marital status and type of family. Furthermore, majority (65%) of the respondents had middle-level job satisfaction which has been found significantly associated with age, co-worker relationship, type of family, marital status and no. of children. Conclusions: Emotional intelligence and job satisfaction is an important prerequisite to becoming successful in personal and professional world. According to the study data, majority of staff nurses have higher emotional intelligence and higher job satisfaction which is directly related to an organization's production and efficiency

Bacteriological profile of acute bacterial meningitis at a tertiary care hospital of North India

Background: Acute bacterial meningitis (ABM) is one of the most severe and potentially life-threatening infectious diseases. It is defined as an inflammation of the meanings, globally distributed as either sporadic or epidemic forms. ABM remains a major cause of mortality and long-term neurological sequel worldwide. Objective of the present study was undertaken to evaluate the bacteriological analysis in term of pathogens frequency and their sensitivity pattern in the cerebrospinal fluid of acute meningitis patients at a tertiary care hospital in eastern Uttar Pradesh, India.Methods: The study was carried out at a tertiary care hospital from June 2014 to November 2015 irrespective of age group. A total of 3803 samples of cerebrospinal fluid (CSF) from clinically suspected cases of meningitis were subjected for bacteriological analysis.Results: During the study period, a total of 3803 CSF samples were studied. Out of these, 343 were confirmed as bacterial meningitis based on Gram staining and or culture showing 9.01% incidence. ABM was more common in paediatric patients than adults. The most common organisms were Gram positive (66.18%) bacteria.Conclusions: Acute bacterial meningitis is a medical emergency and making an early diagnosis and providing early and accurate treatment, are lifesaving and to reduce morbidity. This study may play an important role in the diagnosis and more accurate treatment for the ABM patients

Unilateral prurigo nodularis: a rare presentation

Prurigo Nodularis (PN) is a rare chronic skin disorder of unknown etiology. Here we are describing a case of 14 year old girl having prurigo nodularis with no other systemic illness

Rotating hinge knee as a means of limb salvage in a patient operated on five times for periprosthetic joint infection: from despairs of darkness to lights of joy!

The demand for revision knee arthroplasty is increasing daily with the increase in the number of patients undergoing primary knee arthroplasty. The aim of revision arthroplasty therefore should be the restoration of the mechanical alignment of the limb with the restoration of joint line and biomechanics and these goals should be accomplished with the least possible use of constrained implants which otherwise depends on the degree of bone defects and integrity of collateral ligaments. We have hereby reported a case of a 51-year-old lady operated on five times before who was financially drained, mentally and psychologically depressed with the patient and her relative’s considering amputation of the limb as a last resort