Published Papers

The School’s research output in the last decade has been both significant and considerable, as testified by our AACSB accreditation in 2011. We take great pride in the fact that our faculty have contributed more than 150 articles to reputed academic and practitioner journals.

In the past few years, ISB faculty members have published over 60 papers in top-tier journals. Our faculty have received numerous coveted research grants awarded by premier academic institutions, research centres, corporate houses and reputed foundations such as the Bill and Melinda Gates Foundation, Ford Foundation, MacArthur Foundation, WWF, McCombs School of Business, UT-Austin and others. These awards attest to the scope, depth and impact of the research conducted at the ISB.

Published PapersVoleti, Sudhir., Kopalle, Praveen K., Gangwar, Manish. (Forthcoming) "Why the Dynamics of Competition Matter for Category Profitability", Journal of Marketing Read Abstract >Close >Category Management (CM) has becomes a widespread trade practice in recent years. A category manager's decision problem is complex and multi-faceted owing to demand dependencies across products and across time. Extant research on CM has typically focused on one or the other of these dependencies, but seldom both. The authors address this gap in the extant empirical literature on CM by presenting a competition framework that reconciles cross-sectional breadth (large numbers of SKUs in any given period) with longitudinal depth (demand effects across time). The endeavor is to offer retailers a general, realistic and practical CM approach by comprehensively accounting for competitive effects. The authors demonstrate their approach on real-world data in the beer category for a midsize grocery chain in the US Northeast. Upon determining the optimal weekly prices for the entire assortment over 23 weeks, the authors report a profit yield that is 13% more than in the benchmark logit model and 16% more than in the retailer's current EDLP pricing policy

Published PapersDevalkar, Sripad K., Sohoni, Milind G., Arora, Priyank. (Forthcoming) "Ex-post funding: How should a resource constrained non-profit organization allocate its funds?", Production and Operations ManagementRead Abstract >Close >We study the funds allocation problem for a resource-constrained non-profit organization (NPO) that implements social development projects for public good. In addition to raising funds from donors who contribute prior to project implementation (``traditional donors''), the NPO uses a novel approach, which we term as the ``ex-post funding'' approach, to also raise funds from donors who contribute based on the results delivered by the NPO (``ex-post donors''). In this approach, the NPO uses its initial funds to implement early phases of the project, creates ``results-certificates'' from the completed phases, and invites ex-post donors to purchase these certificates. The donations raised from selling the results-certificates are used to recover the NPO's own funds used in the project implementation. Operationalizing this approach is complicated when the project must incur a large fixed cost before any benefits are delivered by the project and the total benefit delivered is time sensitive. We show that for a given amount of initial funds available, there exists a threshold amount of funds that the NPO should raise from traditional donors before implementing the project phases so as to maximize the total expected benefit delivered. Through numerical studies, we analyze how the threshold of funds raised from traditional donors and the total benefit delivered vary with donor characteristics such as donor willingness to give and the proportion of donors who contribute prior to project implementation. Our numerical studies suggest that even with relatively small amount of initial funds, the NPO can deliver substantially higher benefit by using the ex-post funding approach when compared to using a traditional approach that requires the NPO to raise all the funds required upfront.

Published PapersBala, Ram., Kunnumkal, Sumit M., Sohoni, Milind G. (2016) "Evergreening and Operational Risk Under Price Competition", Naval Research Logisitcs, 63 (1)Read Abstract >Close >“Evergreening” is a strategy wherein an innovative pharmaceutical firm introduces an upgrade of its current product when the patent on this product expires. The upgrade is introduced with a new patent and is designed to counter competition from generic manufacturers that seek to imitate the firm's existing product. However, this process is fraught with uncertainty because the upgrade is subject to stringent guidelines and faces approval risk. Thus, an incumbent firm has to make an upfront production capacity investment without clarity on whether the upgrade will reach the market. This uncertainty may also affect the capacity investment of a competing manufacturer who introduces a generic version of the incumbent's existing product but whose market demand depends on the success or failure of the upgrade. We analyze a game where capacity investment occurs before uncertainty resolution and firms compete on prices thereafter. Capacity considerations that arise due to demand uncertainty introduce new factors into the evergreening decision. Equilibrium analysis reveals that the upgrade's estimated approval probability needs to exceed a threshold for the incumbent to invest in evergreening. This threshold for evergreening increases as the intensity of competition in the generic market increases. If evergreening is optimal, the incumbent's capacity investment is either decreasing or nonmonotonic with respect to low end market competition depending on whether the level of product improvement in the upgrade is low or high. If the entrant faces a capacity constraint, then the probability threshold for evergreening is higher than the case where the entrant is not capacity constrained. Finally, by incorporating the risk-return trade-off that the incumbent faces in terms of the level of product improvement versus the upgrade success probability, we can characterize policy for a regulator. We show that the introduction of capacity considerations may maximize market coverage and/or social surplus at incremental levels of product improvement in the upgrade. This is contrary to the prevalent view of regulators who seek to curtail evergreening involving incremental product improvement.

Published PapersJain, Tarun., Maitra, Pushkar.,Gangadharan, Lata.,Vecci, Joseph. (Forthcoming) "Social Identity and Governance: The Behavioral Response to Female Leadership", European Economic ReviewCentre for Learning and Management PracticeRead Abstract >Close >Women in leadership positions make different policy choices compared to men. An increase in the proportion of female leaders can therefore alter both the nature of governance as well as the types of public services provided. However, whether women are effective as leaders remains an open question. In this paper, we use data from an artefactual field experiment and individual and community surveys from 40 Indian villages to examine the following questions: (i) is there a backlash by men towards women in leadership positions? (ii) how do female leaders react to males perceptions about women as leaders? (iii) does the presence of female leaders differentially affect the behavior of males and females? We find that there is indeed a male backlash against female leaders. Our results suggest that resistance to women leaders is due to violation of social norms, not due to potential inefficacy of women leaders. We also find that increased exposure to female leaders reduces the extent of bias.

Published PapersSandip Dhole, Manchiraju, Hariom., Inho Suk. (2016) "CEO inside debt and earnings management", Journal of Accounting, Auditing and Finance, 31 (4), 515-550
Published PapersManchiraju, Hariom., Susan S. Hamlen, William J. Kross, Inho Suk. (2016) "Fair Value Gains and Losses in Derivatives and CEO Compensation", Journal of Accounting, Auditing and Finance, 31 (3), 311-338
Published PapersTuyet-Pho, Mai., Deo, Sarang., Palamountain, Kara.,Joloba, Moses Lutaakome.,Bajunirwe, Francis.,Katamba, Achilles. (2015) "Optimizing tuberculosis case detection through a novel diagnostic device placement model: The case of Uganda", PLOS ONE, 10 (4), e0122574Read Abstract >Close >Background The Xpert MTB/RIF (Xpert) device is being widely adopted. Analysisis needed to guide the placement of devices within health systems to optimize tuberculosis (TB) detection. Methods We used epidemiologic and operational data from Uganda to perform a model-based comparison of different placement strategies for a limited number of Xpert devices, which included: 1) Health center level (sites ranked from highest to lowest level), 2) Smear volume (sites ranked from highest to lowest), 3) Antiretroviral therapy (ART) volume (sites ranked from greatest to least patients on ART), 4) External equality assessment (EQA) performance (sites ranked from worst to best smear microscopy performance) and 5) TB prevalence (sites ranked from highest to lowest). Outcomes included CDR, detection of multi-drug resistant TB, and number of sites requiring device placement. Results 139 sites serving 87,600 TB suspects were modeled. Placement strategies that prioritized sites with higher TB prevalence and worse EQA performance led to a greater CDR compared to other strategies. They resulted in an incremental CDR of 4.9-12.3% compared to status quo (microscopy alone).  Diagnosis of MDR-TB was greatest in the TB Prevalence strategy, with a 2.6-3.4% higher rate compared to the next best strategy. The number of Xpert devices required for the TB Prevalence, EQA Performance, and ART volume strategies was greater than the other strategies for the same level of coverage. Results remained robust over variation in clinical algorithm, EQA accuracy, and return for test results. Conclusion In Uganda, placement of Xpert devices in sites with high TB prevalence and poor EQA performance yielded the highest TB case detection rate. These results represent a novel use of program level data to inform the optimal placement of new technology in resource-constrained settings.

Published PapersChakrabarti, Rajesh. (Forthcoming) "Bengal’s Infrastructure Challenge", Economic and Political Weekly
Published PapersVaidya Nathan, Krishnamurthy. (Forthcoming) "Has regulatory net been cast too wide to affect Corporate Treasury", The Journal of Corporate Treasury Management
Published PapersDeo, Sarang., Rajaram, Kumar.,Rath, Sandeep.,Karmarkar, Uday.,Goetz, Matthew Bidwell. (Forthcoming) "Planning for HIV Screening, Testing and Care at the Veterans Health Administration", Operations Research, 63 (2), 287-304
Published PapersChittoor, Raveendra.,Kale, Prashant.,Puranam, Phanish. (Forthcoming) "Business groups in developing capital markets: Towards a complementarity perspective", Strategic Management Journal
Published PapersChittoor, Raveendra.,Aulakh, Preet.,Ray, Sougata. (Forthcoming) "Accumulative and assimilative learning, institutional infrastructure and innovation orientation of developing economy firms", Global Strategy Journal
Published PapersChittoor, Raveendra.,Aulakh, Preet.,Ray, Sougata. (Forthcoming) "What Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-taking Perspective ", Management International Review
Published PapersChen, Guoli.,Chittoor, Raveendra.,Vissa, Balagopal. (Forthcoming) "Modernizing without Westernizing: Social Structure and Economic Action in the Indian Financial Sector ", Academy of Management Journal
Published PapersDebnath, Sisir. (Forthcoming) "The Impact of Household Structure on Female Autonomy in Developing Countries ", Journal of Development StudiesRead Abstract >Close >Joint household structures in which several generations co-reside in a single house is common across developing countries. Such households may confer benefits on all the family members through household public goods, but the patriarch exercises greater control over resources than do other members. Therefore, the household structure may affect bargaining power of its members. I estimate the effect of joint versus nuclear household structure in India on the autonomy of women and her labor force participation. I use an instrumental variable approach and find that women living in nuclear households have greater decision making power.

Published PapersRoy, Sudipt.,Chan, Tat.,Cheema, Amar. (Forthcoming) "Price Expectations and Purchase Decisions: Evidence from an Online Store Experiment", Customer Needs and Solutions, 14Read Abstract >Close >In this paper we study the role of consumer price expectations in influencing consumer purchase decisions. Specifically, we examine the drivers of relative dominance of two price expectations – one formed prior to store visit (PRIOR), and the other about price in other stores (POST) formed after being exposed to focal store price. We collect the data from an online store shopping environment, allowing participants to make real purchase decisions. We have identified two distinct classes of shopping behaviors in our data – inside-focused (IF) and outside-looking (OL). Purchase decisions of the former are mainly driven by PRIOR, while that of the latter by POST. At constant cost, we show that a promotion scheme with deep discounts (e.g. 5% for three weeks or 15% price cut in the first week) boosts sales more than the one with shallow discount (e.g. 3% for five weeks). This increase comes mainly from the OL class, which is more sensitive to price changes. We further demonstrate how stores should manage consumer price expectations to maximize the sales lift during price promotions.

Published PapersSeshadri, Sridhar., Qi, W. (Forthcoming) "Production and Inventory Planning under Decreasing Absolute Risk Aversion: A Unified Approach for Sensitivity Analysis ", Risk and Decision Analysis
Published PapersVadera, Abhijeet., Aguilera, Ruth V. (Forthcoming) "The evolution of vocabularies and its relation to investigation of white-collar crimes: An institutional work perspective", Journal of Business EthicsRead Abstract >Close >White-collar crimes are illegal and unethical actions by agents of an organization. In this paper, we address two related research questions concerning white-collar crime— how did the language of white-collar crime evolve? And how did this language coevolve with the investigation of white-collar crime? Building on research on institutional work, we find that key institutional actors such as the Presidential Office are likely to use frames and adopt a particular language (i.e., the term "white-collar crime") in order to legitimize institutional practices (i.e., investigation of white-collar crimes). Conversely, less powerful actors such as the law enforcement agencies are then likely to use narratives to shape language in order to mobilize other stakeholders to continue the adoption of the referent practice. We uncover these findings by using qualitative methodology and trend analysis. We conclude with a detailed theoretical discussion of the role of institutional actors in institutional work and the implications of our research.

Published PapersThomas, Suman Ann.,Krishnan, Trichy V.,Feng, Shanfei. (2015) "To Retain or Upgrade? The Effects of Direct Mails on Regular Donations", International Journal for Research in Marketing, 32 (1(2015))Read Abstract >Close >The paper proposes a model to measure the differential effects of direct mails with different appeals on the consumer’s response functions. Using a regular donation database the paper shows that it is important to separately model the effect of different types of mails on each type of donor response to get a clear picture about their effects. The model also takes care of correlations across the different response functions and helps us find many substantive insights. For example, we find that a donor who is interested in maintaining a long term relationship may not be interested in increasing his/her donation amount. The paper also demonstrates the importance of controlling for endogeneity and shows that the optimal number of mails derived from the proposed model significantly increases the profitability of the firm compared to a model that ignores these aspects. Key words: Direct mail, multiple appeals, non-profit marketing, simultaneous estimation, endogeneity

Published PapersGhosh, Anindya., Rosenkopf, L. (2015) "Shrouded in Structure: Challenges and opportunities for a Friction-based view of Network Research", Organization Science
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