Working Papers

Working PapersBhatnagar, Navneet.,Sharma, Pramodita., Ramachandran, Kavil. "Spirituality and Corporate Philanthropy in Indian Family Firms "Thomas Schmidheiny Centre for Family EnterpriseRead Abstract >Close >Family firms are known to help local community through philanthropy. Scholars have examined the nature, process, and outcomes of family firm philanthropy. However, the study of heterogeneity in their philanthropy motives across cultural contexts has received inadequate attention. Based on 16 cases of Indian family firms, this paper examines the influence of spirituality on family firm philanthropy. The paper presents a typology of family firm philanthropy by juxtaposing two dimensions: (i) ‘Dharma’ - i.e., the firm’s sense of duty towards society, and (ii) ‘Karma’ - i.e., the degree of family involvement in philanthropy. Four distinct philanthropic engagement profiles are identified.

Working PapersBhatnagar, Navneet., Ramachandran, Kavil., Ray, Sougata. "Strategic Agility and Familiness: Family Firms’ Rudders to Navigate the VUCA World"Thomas Schmidheiny Centre for Family EnterpriseRead Abstract >Close >We live in unpredictable times characterized by high volatility, uncertainty, complexity and ambiguity (VUCA) in the macroenvironment, which renders strategic planning ineffective (Mack et el., 2015). However, VUCA also offers opportunities, provided that businesses develop better sense-making ability and make appropriate strategic decisions (Bennett & Lemoine, 2014). Family controlled firms, the dominant form of business organization across the world (Ward, 2011), operate with long-term orientation. On account of the owner family’s network and other unique resources, and their keen interest in preserving financial and emotional wealth, family firms are likely to respond to environmental changes in a manner that is distinct from non-family firms. However, firm-level antecedents that shape family firms’ strategic decisions in an uncertain environment have not been adequately examined. Employing multiple-case method, this paper attempts to address that crucial gap and extend strategy and family business literature. Based on in-depth case studies of 15 publicly traded Indian family firms, the study also aims at examining how heterogeneity in family firm’s - (1) strategic agility, and (2) familiness resources and capabilities basket - influence its strategic decision-making in volatile and uncertain times. On the basis of the common patterns that emerge from the preliminary study of these cases a strategic framework has been conceptualized that identifies four distinct strategic decision-making profiles of family firms. These four family-firm types are tentatively labeled drawing an analogy from the animal world. As we develop this research, we aim to validate the framework by juxtaposing it with similar assessment of non-family firms (i.e., their strategic agility and resources and capabilities). The paper promises to have significant implications for strategic management of family firms and aims to contribute to our understanding of strategic decision-making under uncertainty in family business context.

Working PapersChittoor, Raveendra.,Bang, Nupur Pavan., Ramachandran, Kavil., Vishwanathan, Anierudh. "Women on Boards in Family Firms"Thomas Schmidheiny Centre for Family EnterpriseRead Abstract >Close >In this paper, we examine the heterogeneity in the adoption of new corporate governance norms between family firms and non-family firms in the specific context of induction of women directors onto corporate boards. We do so by exploiting a regulation introduced in 2013 in India that required companies to induct at least one woman director on the board within a year. Using panel data from 1507 publicly listed firms, we find that there is no significant difference in the proportion of women directors between family firms and non-family firms. We further distinguish family firms into stand-alone firms and firms belonging to family-owned business groups and find that women director proportion and the proportion of executive women directors is higher in stand-alone family firms.

Working PapersVishwanthan, Anierudh.,Bang, Nupur Pavan., Ramachandran, Kavil. "Parenting among Business Groups: An Emerging Market’s Perspective"Thomas Schmidheiny Centre for Family EnterpriseRead Abstract >Close >Emerging markets witness a significant overlap between social communities, families and business activities. This paper attempts to decipher a source of heterogeneity, which is business group affiliation among family firms. This paper details the reasons why business group affiliation is beneficial in an emerging market by employing the concept of parenting to reconcile the potential deficiencies of business group affiliation pointed out by various strategy scholars. We use two proxies to measure the extent of parenting namely, firm leadership by a family member and promoting family’s shareholding in the group affiliate company. The study has been conducted in the Indian economic context using a dataset consisting of 3,728 listed companies. Results show that superior parenting realized by professional firm leadership and higher promoter shareholding leads to superior financial performance among family business group firms.

Working PapersAgarwal, Sumit., Mani, Deepa. "Do Rideshares Clog Streets? Evidence from Delhi"Read Abstract >Close >
Working PapersBharadwaj, S, Mani, Deepa., Sridhar, S. "Impact of Highly Able Peers on Technology Enabled Learning and Education Performance"Srini Raju Centre for IT and the Networked EconomyRead Abstract >Close >
Working PapersNandkumar, Anand., Mani, Deepa., Saharsh Agarwal. "The Growing Dominance of ICT Inventors in Production of Impactful Knowledge"Srini Raju Centre for IT and the Networked EconomyRead Abstract >Close >This study uses data on about 1.5 million U.S. patents granted between 1981 and 2006 to demonstrate that inventors, whose experience is grounded in Information and Communication Technologies (ICT), increasingly dominate the production of knowledge across diverse industries and technology classes. On average, the percentage of “ICT inventors” affiliated with a patent has grown steadily each year and more than quadrupled from 8% in 1981 to 34% in 2006. Patents with greater percentage of ICT inventors are also more likely to be breakthrough inventions, general-purpose and highly cited. These dimensions of patent quality vary with the percentage of ICT inventors on the patent. Relative access to technology talent across different geographies in the U.S. introduces exogenous variation in the percentage of ICT inventors affiliated with the sample patents, underscoring the importance of acquisition of technology talent to competitiveness in modern innovation and new product development.

Working PapersLu, Y, Ravindran, K, Susarla, A, Mani, Deepa. "Vendor Selection for Information Technology Outsourcing: A Hierarchical Bayesian Estimation"Srini Raju Centre for IT and the Networked EconomyRead Abstract >Close >
Working PapersChowdhry, Bhagwan. "Hedging Corporate Cash Flow Risk"Read Abstract >Close >
Working PapersChowdhry, Bhagwan., David Cassell, James B.Gamett, Gary J.Milkwick, Chad D. Nielsen, Jon D. Sederstrom. "Pricing Microfinance Loans and Loan Guarantees using Biased Loan Write-off Data"Read Abstract >Close >
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