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Full-Text Articles in Corporate Finance

Corporate Governance And Ethics, Samir K Barua Dec 2002

Corporate Governance And Ethics, Samir K Barua

IIMB Management Review

Will a model ever be found that would guarantee ethical corporate behaviour? Samir Barua, Professor, IIM Ahmedabad, traces the efforts of governments worldwide, including the setting up of the Treadway Commission (USA), the Cadbury Committee (UK), the King Committee (South Africa) and the National Task Force on Corporate Governance (India) in the last decade and a half, to ensure corporate governance. The improvements in the 90s in the accounting and reporting standards, the regulatory and supervision framework, the composition and functioning of boards and the apparent efficiency of the capital markets led to a sense of complacency that at last …


The Capital Investment Economics Of Mobile Wireless, Hemant Kumar Sabat Sep 2002

The Capital Investment Economics Of Mobile Wireless, Hemant Kumar Sabat

IIMB Management Review

A series of technological leaps in mobile wireless devices, networks, and applications is setting the stage today for mobile wireless to transform itself from mobile voice to the ultimate communication medium by ushering in radical new applications and business models. However, to capitalise on the opportunity, stakeholders investing in mobile wireless need to assess a wide range of issues. The impact of a mobile wireless network operator’s capital investments on the industry is best understood by looking at the fundamental business drivers, the value propositions, the value chain, the components of capital investments, and the impact on operator’s cash flows …


Amar Bhide : A New Take On New Businesses In Conversation With N Balasubramanian, Rishikesha T Krishnan, Mathew Manimala, S Raghunath And Douglas Stoddart., Amar Bhide Sep 2002

Amar Bhide : A New Take On New Businesses In Conversation With N Balasubramanian, Rishikesha T Krishnan, Mathew Manimala, S Raghunath And Douglas Stoddart., Amar Bhide

IIMB Management Review

In the beginning there was the traditional rags-to-riches myth. The myth now prevalent in the business world is about the business school style startup – the well planned, well financed, well managed startup, where an experienced manager from Microsoft or Intel has a big idea, comes up with a plan, raises millions of dollars from a venture capital fund, recruits a top notch team, puts it all together using the kind of business management techniques taught at business schools, and in fairly short order turns it into a successful business. Amar Bhide, whose book, The Origin and Evolution of New …


Venture Capital And It Firms In India - Vital Issues, G Sabarinathan Mar 2002

Venture Capital And It Firms In India - Vital Issues, G Sabarinathan

IIMB Management Review

The Information Technology (IT) industry in India achieved a compounded annual growth rate (CAGR) of 39.4 % from 1995-96 to 2000-01 in US dollar terms, increasing from $1224 million to $8260 million. Predictably, much of this growth came from exports which increased from $734 million to $6200 million, representing a CAGR of 42.7%. Software services accounted for 8.1 % of the exports during 1999-2001. During the previous years services accounted for an even higher proportion of exports.


Venture Capital Investment Trends In It Businesses In India, G Sabarinathan Mar 2002

Venture Capital Investment Trends In It Businesses In India, G Sabarinathan

IIMB Management Review

How  are  venture  capitalists  reacting  to  the  boom-and-bustIT  business  scenario?  Has  there  been  a  shift  in  entrepreneurial  activity  from  the  traditional  software  services  toproducts?  Is  Intellectual  Property  creation  possible  out  of  Indiaand  what  do  Indian  companies  have  to  offer  to  the  global  market?How  would  ‘Silicon  Valley  Angels’  affect  the  competitive  paradigmfor  Indian  VC  funds?  What  is  the  possibility  of  germinating  a  ven-ture  in  India  and  transplanting  it  overseas?    How  can  Indian  busi-ness  schools  and  institutes  of  technology  contribute  in  the  vitalfield  of  R&D?  Entrepreneurs,  venture  capitalists  and  academicsparticipated  in  a  round  table  discussion  on  VC  investment  trendsin  IT  businesses  in …


Venture Capitalism : A Close-Up, Anand Sudarshan Mar 2002

Venture Capitalism : A Close-Up, Anand Sudarshan

IIMB Management Review

The subject of venture capital and venture capitalists has captured the imagination of the public at large over the last five years. VCs have been both deified and pilloried, and have probably deserved their share of bouquets and brickbats. Undoubtedly, this exposure was in large measured fuelled by the high tech boom, the Silicon Valley, and our own obsession with all things IT.


Institutional Investors And Corporate Governance, Jinesh Panchali Mar 2002

Institutional Investors And Corporate Governance, Jinesh Panchali

IIMB Management Review

The challenge of promoting enterprise and accountability is common to all markets. What degree of freedom is right for corporate boards and how to make them accountable is a major concern in the realm of corporate governance. Even where market forces are expected to take care of the utilisation of available resources, there has to be a system which ensures that owners of these resources are made accountable for their use in the larger interests of the economy. This paper examines the rationale for institutional investors’1 activism in general and for the Indian capital market in particular, discusses empirical evidences …


What Is Eva?, Joel Stern Sep 2001

What Is Eva?, Joel Stern

IIMB Management Review

There is no way to measure your performance contemporaneously, period by period. The way people try to incentivize net present value is by using stock options or restricted shares or something like that. But we have taken net present value, which is what the accountants call a stock concept, and converted it into a flow concept, one that can be measured contemporaneously year-by-year. We have put the incentives and the tools in place, to reinforce that. So on acquisitions, for example, you will not be the one to drop out of the bidding contest. I will show you how we …


Stern Measures: In Conversation With Joel Stern, S Venkatesh Sep 2001

Stern Measures: In Conversation With Joel Stern, S Venkatesh

IIMB Management Review

The financial evaluation tool that his company devised and grew. Elaborating on how it differs from the accountants’ measure of value and is an accurate measure of shareholder value, Stern claimed that EVA was emerging as a strong consulting practice in India, thanks to the sharpness of the quantitative side of the Indian brain. Defending EVA against Prof Zimmerman’s criticism, Stern strongly positioned EVA as a tool for evaluation, incentivization, and strategic decision making


Eva: Cutting To Fit, S Venkatesh Sep 2001

Eva: Cutting To Fit, S Venkatesh

IIMB Management Review

No abstract provided.


Cost Of Capital In The Indian Context, Mahesh Santhanam Oct 1998

Cost Of Capital In The Indian Context, Mahesh Santhanam

IIMB Management Review

The major problem faced while calculating the cost of capital in a developing country like India is the extreme volatility and illiquidity of the financial markets. Drawing upon various theories and empirical evidence specific to the Indian context, Mahesh Santhanam guides managers and finance professionals who analyse and evaluate capital budgeting projects that involve consideration of the cost of capital.


Emerging Technology Companies In India: Equity Compensation As A Strategy, Simon G Zinger Jul 1998

Emerging Technology Companies In India: Equity Compensation As A Strategy, Simon G Zinger

IIMB Management Review

Liberalisation has seen many economies, especially in Asia, opening their hitherto sheltered domestic markets to global competition and providing greater opportunities to trade and foreign investment. The spinoffs of liberalisation bring in new implications, opportunities and challenges for the governments as well as the organisations involved. Round Table features some of the issues discussed in the conference on 'Managing Economic Liberalisation in South Asia : Directions for the 21st Century' held in Chennai, India, from August 10 -13. Selvarajah examines the realignment of economies towards globalisation as a development of regionalism. The shift in economic forces away from multilateral arrangements …


Ethical Choices In Business : By R C Sekhar, New Delhi : Response Books, 1997., Rishikesha T Krishnan Jan 1998

Ethical Choices In Business : By R C Sekhar, New Delhi : Response Books, 1997., Rishikesha T Krishnan

IIMB Management Review

Rishikesha Krishnan is Assistant Professor, Corporate Strategy & Policy, at the Indian Institute of Management Bangalore. He currently teaches the core course Business & Ethical Values in the institute’s Post Graduate Programme in Management.


Venture Capital Financing In India: By J C Verma, New Delhi: Sage Publications,1997., R Srinivasan Oct 1997

Venture Capital Financing In India: By J C Verma, New Delhi: Sage Publications,1997., R Srinivasan

IIMB Management Review

No abstract provided.


Share Buyback Aspects And Implications, Dilip D Kare, R Vaidyanathan Mar 1996

Share Buyback Aspects And Implications, Dilip D Kare, R Vaidyanathan

IIMB Management Review

Allowing Indian firms to buy back their shares has been a subject of debate for some time. It is currently under consideration by the Securities and Exchange Board of India (SEBI). India’s second largest corporate, Reliance Industries (Rs 94 billion by market & capitalisation), set a trend recently by getting its shareholders’ approval for buy-back, subject to other statutory approvals.


Measurement And Pricing Of Corporate Risk, R Vaidyanathan Dec 1991

Measurement And Pricing Of Corporate Risk, R Vaidyanathan

IIMB Management Review

No abstract provided.


Reforming The Financial System, Prasanna Chandra Dec 1990

Reforming The Financial System, Prasanna Chandra

IIMB Management Review

No abstract provided.


Takeovers, Prasanna Chandra Dec 1989

Takeovers, Prasanna Chandra

IIMB Management Review

A takeover generally involves the acquisition of a certain block of equity capital of a company which enables the acquirer to exercise control over the affairs of the company. In theory, the acquirer must buy more than 50 percent of the paid-up equity of the acquired company to enjoy complete control. In practice, however, effective control can be exercised with a smaller holding, usually between 10 and 40 percent, because the remaining shareholders, scattered and ill-organized, are not likely to challenge the control of the acquirer. Takeover mania appears to be sweeping the Indian corporate world. This has perhaps been …


Introduction To Lease Financing By Rajas Parchure & Ashok N Kumar, New York: Time Research Foundation, 1985., Prasanna Chandra Jul 1987

Introduction To Lease Financing By Rajas Parchure & Ashok N Kumar, New York: Time Research Foundation, 1985., Prasanna Chandra

IIMB Management Review

No abstract provided.