Determinants of Firm Performance: A Subjective Model

The performance of firm is a relevant construct, in strategic management research, across the globe and frequently it is used as a dependent variable. In spite of its relevance, there is hardly any consensus about its definition, dimensionality and measurement, which limits advances in research. This review article suggests a comprehensive subjective measurement model for performance of firms, based on indicators and findings of earlier research studies. The final subjective model was developed with nine determinants/dimensions, namely, profitability performance, growth performance, market value performance of the firm, customer satisfaction, employee satisfaction, environmental audit performance, corporate governance performance and social performance. It is found that these nine dimensions or determinants cannot be used interchangeably since they represent different aspects of firm performance and different stakeholders of firms have different demands that need to be managed independently. Researchers and practitioners may use the proposed subjective model, in empirical studies, to evaluate the multiple performance of a firm

Nexus between Profitability and Environmental Performance of Indian Firms – An Analysis with Granger Causality

Sustainable Development enhances the human life, with good eco facilities. The way to move toward the sustainable development is by giving best solutions to the issues of unbalanced ecological, environmental and economic development. This paper investigates the relationship between the environmental performance and the profitability variables such as ROA, ROE, ROCE, and ROS of the sample firms in India. Granger Causality Test was used to examine bidirectional causality running from Energy Intensity to Profitability of the Firm. The study identified causal relationship that existed among the environmental performance and profitability of the firm. Further, it is found that there was an inverse relationship between ROCE and energy intensity of the firm while direct relationship existed among ROA, ROE, ROS and Energy Intensity. It is suggested that the practitioners, policy makers etc. may adopt the environment friendly technologies and encourage the Indian firms to use more energy efficient technology. Keywords: Environmental Performance; Firms’ Profitability; Energy Intensity; Causal Effect JEL Classifications: L25; M14; Q51; Q01; Q

An Empirical Examination of Returns on Select Asian Stock Market Indices

This study empirically examines the correlation among the returns of six select Asian stock market indices of India, China, Japan, Hong Kong, Singapore, and Taiwan. The study is conducted over a longer time period of 2000 – 2012. The correlation results provide useful information for foreign institutional investors, portfolio managers, regulators, and policy makers in designing appropriate strategies to maximize risk adjusted returns

On the relationship between weather and Agricultural Commodity Index in India: a study with reference to Dhaanya of NCDEX

This paper proposes to investigate the Co Movement and Causal Relationship, among the three weather factors (temperature, humidity, and wind speed) and the returns of the Agriculture Commodity Index called Dhaanya, in India. The study employed the second- ary daily data of weather in five sample cities (Chennai, Mumbai, Delhi, Kolkata and Hyderabad), and Agriculture Commodity Index called Dhaanya, in India. Statistical tools like Descriptive Statistics, Unit Root, Correlation Matrix, and Granger Causality Test were employed. This study found that the temperature and wind speed influenced the inves- tors’ mood in Chennai and Mumbai, in respect of Agriculture Commodity Index, namely Dhaanya. The findings of this study would help the investors in making investment deci- sions rationally, on the basis of weather condition

An empirical investigation of the interlinkages of stock returns and the weather at the Indian Stock Exchange

This paper investigated the effect of three weather factors (temperature, humidity and wind speed), on the returns of the Indian stock indices (BSE Sensex and S&P CNX Nifty). This study examined how weather affected the Movement and relationship of top stock market indices in India. The study used the monthly data of weather, in five sample cities (Chennai, Mumbai, Delhi, Kolkata and Hyderabad), in India. Statistical tools like Descriptive Statistics, Correlation Matrix and Granger Causality Test were used for the analysis. This study found that the temperature influenced the investors’ mood in Bangalore, in respect of BSE Sensex and Kolkata & Mumbai, in respect of CNX Nifty and Humidity influenced Mumbai, in respect of CNX Nifty