Measurement of corporate social performance: an Indian perspective

Kansal, M ORCiD: 0000-0003-4392-1072Purpose - This paper aims to: design a comprehensive, review-based and statistically tested corporate social responsibility disclosure (CSRD) index; measure item-wise and theme-wise the social performance of the top 82 companies in India; and investigate item-wise and theme-wise the variations in CSRD. Design/methodology/approach - The paper presents an empirical study of CSRD in 2009-2010, using content analysis, Cronbach's α, the Kolmogorov-Smirnov and Shapiro-Wilk tests of normality and a six point scale (0-5), mean, skewness, kurtosis, and Levene's, Kruskal-Wallis's and Mood's median tests for analysis and interpretation. Findings - CSRD shows less satisfactory social performance, mainly narrative, and varies significantly among items and themes. Community development, with a mean score of 14.30, is the most disclosed theme, followed by HR, with a score of 11.20. The human element is the center of social performance in India. More than equal focus should be given to the environment and to emissions, which impact the greater interests of the world. Some burning global issues like water usage, alternative sources of energy, product safety and innovation have not received adequate attention. Research limitations/implications - The study offers ample scope for the further studies as each and every theme and item considered in the model/index requires individual focus to serve the future generations of mankind. Longitudinal/transnational studies in the area of CSR could be carried out to set the scene for further studies. Practical implications - The paper recommends mandatory CSR norms leading to improved disclosure, the sharing of innovative knowledge, cost reductions and enhanced effectiveness in managing scarce resources. Originality/value - The paper evaluates social performance in the economic, social, religious environment and highlights the emerging philanthropic attitude. The paper improves an existing model by incorporating an emerging dimension, i.e. Emissions of carbon and other harmful gases. The CSEEE index designed here is highly appropriate for developing economies like India. The paper measures CSRD using six-point scales for the first time. © Emerald Group Publishing Limited

Kinetic and mechanistic studies of oxidation of an antiallergic drug with bromamine-t in acid and alkaline media

Cetrizine dihydrochloride (CTZH) is widely used as an anti-allergic drug. Sodium N-bromo-p-toluenesulfonamide or bromamine-T (BAT) is the bromine analogue of chloramine-T (CAT) and is found to be a better oxidizing agent than CAT. In the present research, the kinetics of oxidation of CTZH with BAT in acid and alkaline media was studied at 313 K. The experimental rate laws obtained are: -dBAT/dt = kBAT CTZH0.80H+-0.48 in acid medium and -dBAT/dt = kBATCTZH0.48OH-0.52PTS-0.40 in alkaline medium where PTS is p-toluenesulfonamide. Activation parameters and reaction constants were evaluated. The solvent isotope effect was studied using D2O. The dielectric effect is positive. The stoichiometry of the reaction was found to be 1:1 and the oxidation products were identified as 4-chlorobenzophenone and (2- piperazin-1-yl-ethoxy)-acetic acid in both media. The rate of oxidation of CTZH is faster in acid medium. Suitable mechanisms and related rate laws have been worked out

Voluntary disclosures of intellectual capital : an empirical analysis

Kansal, M ORCiD: 0000-0003-4392-1072Purpose: This paper aims to investigate inter firm intellectual capital (IC) disclosures and its variations in top 20 listed pharmaceutical companies in India, study the category wise and element wise IC disclosures (ICD), find out the impact of ICD on the creation of IC in monetary terms, find out correlation between IC valuation and its disclosure, and test significance of correlation. Design/methodology/approach: This is an exploratory and empirical study of ICD by sample companies in 2009 using content analysis. IC is valued as market value minus book value. Five-point scale (0-4), mean disclosure score, range, Chi- squares, Karl Pearson's correlation and Student's t-test are used for analysis and interpretation. Findings: Although top 20 companies of knowledge-led industry, ICD are low, narrative and varying significantly among companies. ICD score varies in range of 4 to 36 against expected score of 96. External capital with mean score of 18.78 is the most disclosed category. Brands and business collaborations is most disclosed element of IC, followed by employee competence and internal organizational capital respectively. ICD leads to creation of IC in some companies. Markets reflected true valuations of ICD in seven companies, and high degree of inconsistency in 13 companies. Overall correlation between IC valuation and disclosure is negative, weak and insignificant. Practical implications: Sector-specific intangible asset monitors should be formulated to capture ICD. Originality/value: The paper measures ICD using five-point scaling technique, it uses Chi- square test (non-parametric test) to calculate inter-firm variations. The paper also correlates ICD and valuation of respective companies with Spearman's correlation for the first time in pharmaceutical companies in India. It proposes inclusion of fourth category i.e. sector-specific items in existing models of ICD. © Emerald Group Publishing Limited

On the landing of a giant grouper at Paradeep and strandings of dead turtles along Paradeep and Puri coasts, Orissa

A giant grouper, Eplnephalus lanceolatus (Bloch) (Promicrops lanceolatus) locally called 'Kaibaley' measuring 202 cm in total length was landed at Paradeep on 18-12-'97 by a trawler operated 12 km south of Paradeep (Fig.

Oxidation of tricyclic antidepressant drugs with chloramine-T in acidic solutions: Kinetic, mechanistic and thermodynamic studies

The kinetics of the oxidation of two tricyclic antidepressants (TCA) namely, imipramine (IMP) and clomipramine (CLM) with sodium N-chloro-p-toluenesulfonamide or chloramine-T (CAT) in HClO4 medium was studied at 300 K. The two reactions followed identical kinetics with a first-order dependence of rate on CATo and fractional order dependence on TCAo. The reaction is catalyzed by H+ ions with a fractional order dependence. The reaction was studied at different temperatures and activation parameters were evaluated. The reaction constants involved in the mechanism were computed. The solvent isotope effect was studied using D2O. Addition of p-toluenesulfonamide retards the reaction rate. The rate increased with decreasing dielectric constant of the medium. Variation of ionic strength of the medium and addition of halide ions (Cl- or Br-) showed no effect on the rate. The stoichiometry of the reaction was found to be 1:1 and the oxidation products were identified as imipramine-5-N-oxide and clomipramine-5-N-oxide. The rate of oxidation of IMP is faster than CLM. The observed results have been explained in terms of a mechanism and a relevant rate law has been deduced. © 2013 Sukhdev and Puttaswamy; licensee Springer

A new business model?

The paper delivers an analysis of the “New Economy” focussing on the roles of new business models, the capital market and venture capital. The capital market created a double standard in the 1990s: A high return on capital was required from old economy firms whereas money was thrown at new economy firms which had a business idea that stimulated the fantasies of financial investors but no earnings. Through the gradual burst of the tech stock bubble since spring 2000 it has come to the eyes of the public that many new economy start ups were unable to recover their costs. This paper shows that business models related to the internet can only work under certain conditions. The sectoral distribution of power, for example, determines the prospects of the single firms to realise e-commerce in a profitable way. Digital technologies do not necessarily enhance profitability. On the contrary, they can increase competition and lead to lower profit rates. The limitation of competition appears to be a central condition of successful cost recovery. The venture capital cycle has been an important driving force of the new economy boom, but it can also be momentum of a longer crisis. Enormous amounts of money have been channeled to new economy start ups hoping that successful IPOs will one day give venture capitalists a high return. But the burst of the bubble has brought down the IPO activity and interrupted the valorisation cycle of venture capital. Financial investors have reacted to the crisis by shifting their capital to even riskier investments, as the come-back of hedge funds indicates. --

Oxidative Decolorisation of Eriochrome Black T with Chloramine-T: Kinetic, Mechanistic, and Spectrophotometric Approaches

The kinetics and mechanism of oxidative decolorisation of Eriochrome Black T (EBT) with sodium N-chloro-p-toluenesulfonamide or Chloramine-T (CAT), catalysed by osmium tetroxide [Os(VIII)] in alkaline medium and uncatalysed in acid medium, have been spectrophotometrically investigated at 303 K. The reaction exhibited a first-order dependence of rate on [CAT]0 and [EBT]0 in both media, and also with respect to [H+]. The order with respect to [OH-] and [Os(VIII)] was fractional. Activation parameters were deduced. It was observed that the uncatalysed decolorisation reaction was ca. eightfold faster in acid medium in comparison with alkaline medium, while the Os(VIII)-catalysed reaction was ca. sevenfold faster than the uncatalysed reaction. Mechanisms and rate laws were determined. The chemical oxygen demand of Eriochrome Black T dye was also determined. Importantly, the developed oxidative decolorisation method is simple, efficient, inexpensive, requires less time, and is environmentally benign. Hence, it can be adapted for treating Eriochrome Black T present in industrial and laboratory wastewater