The crisis in the financial and the banking sectors in 2008-2009 brought back into focus the issue of CEO and top management compensation. The unconscionably high compensations, unjustified even remotely by performance, raised concerns about governance of companies. The study, the first of its...

The passing of the long awaited Companies Act in 2013 is probably the single most important development in India's history of corporate legislation, next only to the monumental Companies Act 1956 which it replaces. While significant improvements have been effected in required standards of...

The first decade of the new millennium saw dramatic changes in the ownership patterns in major listed corporations in India. Two developments were striking: promoters especially in the domestic private sector bolstered up their holdings to assure continued entrenchment; and institutional...

Board interlocks occur when a director of one organization sits on the board of directors of another organization. The causes and consequences of these interlocks have been much debated in the western literature but comparatively little is known about interlocks in Indian corporate boards. Board...

Behavioral experiments conducted so far to establish existence of endowment effect as propounded by prospect theorists typically endow subjects with a single good. In this paper we depart from this setting by giving subjects initial endowment bundles which consist of two goods: chocolates and...

Real corporate governance requires tough financial regulators which effectively work to safeguard investors’ interests in securities and endeavour to create a proper environment for the securities market to develop. The financial regulators – Securities and Exchange Board of India, SEBI in...

In this paper, we study the mechanism of dynamic pricing of electricity and its opportunities in the Indian context. We compare the economic efficiency of dynamic pricing vis-à-vis the traditional flat tariff of electricity. We analyse various ways in which dynamic tariff can be introduced in...

For a country like India, which is committed to the rule of law, the role of police is undergoing changes very rapidly. It is primarily due to the fact that the country has transformed from a police state to welfare state since independence in 1947, and thereafter since India became a Republic...

The corridor allocation problem is one of assigning a given set of facilities in two rows along a straight corridor so as to minimize a weighted sum of the distances between every pair of facilities. This problem has practical applications in arrangements of rooms in oces and in hospitals. The...

The current situation of a large CAD, low growth, and plunging rupee is a result the combination of early withdrawal from the fiscal stimulus and the RBI’s monetary conservatism. There is possibly a way out if credit can be expanded to close the differential between the low end government bond...