STOCK SPLITS AND ADVERSE SELECTION

What impact can the market expect from a stock split announcement? This paper delves into the effect of stock split announcements on the immediate excess return over the market for stocks in the US market by considering stock splits over a span of 35 years from 1980 to 2014 across different industries.   We find that the average market reaction to stock splits announcement is 1.5%. We also find that excess return over the market after stock split announcement is negatively correlated with firm size and positively correlated with bid-ask spread upon the application of industry fixed effect and year fixed effect. However, upon the application of firm fixed effect, these relationships are not significant. In addition, we found that there is no significant relationsh

Water Quality Monitoring Infrastructure for Tackling Water-Borne Diseases in the State of Madhya Pradesh, India, and Its Implication on the Sustainable Development Goals (SDGs)

It is estimated that around 37.7 million Indians are affected by water-borne diseases annually, 1.5 million children are estimated to die of diarrhoea alone, and 73 million working days are lost due to water-borne disease each year. The resulting economic burden is estimated at $600 million a year. Owning the largest share, India has a significant role to play in achieving global Sustainable Development Goals. In such scenario, monitoring of drinking water quality and its improvement plays a significant role in ensuring public health and reducing economic burden. Taking cue from this, a study was designed to assess the efficiency of water quality laboratories established under the National Rural Drinking Water Programme in the State of Madhya Pradesh. In the state, which tops the list of states in the country with the highest infant mortality rate (IMR), the drinking water quality assessment infrastructure is not in a position to monitor the water quality in rural areas. The study assessed that none of the 56 laboratories was able to perform a minimum of 3000 tests per year (annual analysis load) in the state for monitoring water quality. This paper presents the findings of the statewide status of water quality in rural areas and also qualitative assessment of 56 water quality laboratories in 16 districts

Topology Optimisation and Fabrication Aspects for Light Weight Design of an Articulating Beam of Article Launching System

Light weight design of an articulating beam that is utilised for erection mechanism of heavy article (above 15-ton class) is quite challenging task considering high stiffness requirement at erection start mode. The research work presents structural topology optimisation of an articulating beam to obtain optimal material distribution within available space pertaining to required stiffness parameters and boundary constrains. Optimal weight of articulating beam structure is achieved using density optimisation technique aiming minimum compliance and volume. This study highlights problem formulation with solid isotropic material with penalisation optimisation technique with case study followed by discussion on various fabrication aspects for converting the topology results in to feasible design. As an outcome, optimal material design of the articulated beam is achieved that is converted into two feasible light weight designs considering manufacturing aspects. These designs are then validated for their structural adequacy with finite element analysis computing desired stiffness and strength parameters.

Employer Branding: A Strategic Dimension for Employee Retention

Employer branding is a long term strategy to manage perception and awareness of employees, potential employees and related stakeholders in regards of a particular organization. Employee brand is an organizational image which is in the mind of the current employees as a ‘great place to work’. Now the Employer Brand is a brand management in HR perspective to attain, attract, engage and retain employees of the firm. Employer brand is a strategy which helps to retain the employees and try to minimize the employee attrition in the organization. Keywords:  Employer brand, organizations, Employee Retention, Attrition, Strategies

Retailer’s Service Quality & CSR as Antecedents of Retailer Personality & Customer Reactions: A Review

This research paper aims to assess the influence of Retail Service Quality and CSR as antecedents of Retailer Personality and Customer Reactions. Also, reviews were done for studies which implemented Analytic Hierarchy Process (AHP). The relationships and links were identified from a rigorous literature review. A conceptual model has been developed and proposed, with Retail Service Quality and CSR Policy of retailer as antecedents and Customer Reactions as consequences of Retailer Personality. Hypotheses were formulated, recommendations and Scope for future research were discussed

TO STUDY THE EFFECT OF GUGGUL, LAKSHA AND ARJUN CHURNA IN THE MANAGEMENT OF KANDA BHAGNA

Ayurvedic texts have illustrated fracture as being the loss in the continuity of the bone due to pressure. The management of long bone fracture runs through the basic principle of fracture management e.g. -Reduction, Immobilisation and Rehabilitation. In ancient treatise so many indigenous compounds are mentioned which can promote the healing of fracture. With reference to Vangasen, an indigenous compound named as Guggul, Laksha and Arjun Churna is also praised for Bhagna sandhaana. Taking this reference into consideration Arjun Guggul and Laksha churna was taken for the study. Fracture management was according to the basic principle of management of fracture i.e pop casting was done. The Churna of Arjun, Guggul and Laksha were made according to the method given in Bhaisajya Ratnavali. In all 30 patients were treated in which 15 patients were treated with Arjun, Guggul and Laksha churna and was given with milk. Rest 15 patients were treated with the calcium supplement. Follow-up was taken on 0, 15th, 30thand 45th day. During this study it was observed that on zero days there was tenderness as well as pain present but there was no bluish discolouration and also movements of digits were there. On 15th day there was mild pain and tenderness. But swelling was not present as well as callus formation was not there. In this study it was observed that callus formation was late in first group as well as pain tenderness and swelling was decreased early. In the 2nd group pain, tenderness and swelling was decreased and also callus formation was seen early compared to 1st group

Accelerating Security on Cloud Based Data

The rapid emergence of cloud computing is transforming the way organizations promoting their IT resources. Studying the diversified security aspects, data security can be contemplated as one of the challenging factor to organizations retaining cloud infrastructure. This paper reviews the data security challenges. Based on which we propose a model for storing confidential data over cloud, using enhanced public key cryptographic scheme of RSA. This model proposes a strong and fast cryptography along with user access control

Distributed ADMM over directed networks

Distributed optimization over a network of agents is ubiquitous with applications in areas including power system control, robotics and statistical learning. In many settings, the communication network is directed, i.e., the communication links between agents are unidirectional. While several variations of gradient-descent-based primal methods have been proposed for distributed optimization over directed networks, an extension of dual-ascent methods to directed networks remains a less-explored area. In this paper, we propose a distributed version of the Alternating Direction Method of Multipliers (ADMM) for directed networks. ADMM is a dual-ascent method that is known to perform well in practice. We show that if the objective function is smooth and strongly convex, our distributed ADMM algorithm achieves a geometric rate of convergence to the optimal point. Through numerical examples, we observe that the performance of our algorithm is comparable with some state-of-the-art distributed optimization algorithms over directed graphs. Additionally, our algorithm is observed to be robust to changes in its parameters