Equity Ownership and Financial Performance

This paper attempts to examine the relationship of equity ownership and financial performance of firms in India. The study explored the possibility that whether equity ownership type affects the financial performance of listed Indian firms. The study examined the relationship of equity ownership with accounting as well as market measures of financial performance of the firms. The study sampled the 500 listed companies constituting BSE 500 indices of Bombay Stock Exchange of India. The 397 most actively listed companies on BSE 500 indices of Bombay Stock Exchange of India, which constitute the bulk of trading, were chosen to constitute the sample of the study as of end of 2009-10. The study used Ordinary least square (OLS) to examine the relationship between the equity ownership and financial performance of the Indian listed firms. The findings of the study depict the presence of highly concentrated ownership structure in the Indian market. The results of the regression analyses interestingly indicate that the dispersed equity ownership influences certain dimensions of accounting financial performance measures (i.e. ROA and ROE) but not market performance measures (i.e. Tobin’s Q, P/E and P/BV ratios), which indicate that there might be other factors (Behavioral, macro economic, political, contextual) affecting firms performance other than ownership structure. The findings of the study might be relevant for practitioners and investors for taking their financing and investment decisions

How ‘Zerodha’ Used Technology to Disrupt the Indian Stock Trading Industry?

In this practitioner-oriented research, we describe how “Zerodha” entered and disrupted the Indian stock trading industry through the use of technology by overcoming the challenges of (1) developing a new business offering that is accessible to all, (2) gaining trust across the community, and (3) fostering and growing their business ecosystem. Our case-based research illustrates how an organization can enter a well-established business area and create value by (1) rethinking the business model, (2) treating technology as a business enabler, (3) empowering the end user, and (4) proactively investing in the business and community. Based on Zerodha’s experiences, we provide guidelines and recommendations for other businesses contemplating to enter and disrupt an established industry by leveraging technology

Analysis of a Compact Squeeze Film Damper with Magneto Rheological Fluid

Rotor systems play vital role in many modern day machinery such as turbines, pumps, aeroengines, gyroscopes, to name a few. Due to unavoidable unbalance in the rotor systems, there are lateral and torsional vibrations. Ignoring these effects may cause the system serious damages, which sometimes lead to catastrophic failures. Vibration level in rotor systems is acceptable within a range. Focus in this work is to minimize the vibration level to the acceptable range. One of the ways vibration level can be minimised is by means of providing damping. To accomplish this task in this work a new concept squeeze film damper is made by electro discharge machining which is compact in configuration, is filled with magneto-rheological (MR) fluid and tested out on one support of a Jeffcott rotor. This compact squeeze film damper (SFD) produces damping in a compact volume of the device compared to a conventional SFD. MR fluid is a smart fluid, for which apparent viscosity changes with the application of external magnetic field. This compact damper with MR fluid provides the variable damping force, controlled by an external magnetic field. In this work, proportional controller has been used for providing the control feedback. This MR damper is seen to reduce vibrations in steady state and transient input to the Jeffcott rotor. Parametric study for important design parameters has been done with the help of the simulation model. These controlled dampers can be used for reducing vibrations under different operating conditions and also crossing critical speed