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A Journal of IESManagementCollege& Research Centre
Vol-5 Issue-1, 2012
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From The Editor's Desk

Research Papers
Determinants of Customer Loyalty and Recommendations to Others in the Nigerian Telecommunication Industry

Abiodun Abolaji Joachim, Oyeniyi, Omotayo Joseph, Osibanjo, Omotayo Adewale
This study presents empirical evidence of the determinants of customers’ loyalty and recommendations to others in the mobile market of a developing country setting of Nigeria. The analysis of the research results from 135 customers of mobile telecommunication companies in Nigeria indicates that customers’ loyalty is a significant predicator of recommendations to others. In addition, while corporate image, service quality and switching costs were found as building blocks to improve customers’ satisfaction, satisfaction and switching costs were found as significant determinants of customers’ loyalty. Thus, telecommunication companies are better off in the long run if they improve on customers’ satisfaction and strengthen the link with loyalty in order to maximize customers’ partnership in recommendations to other.
Key Words: Profitability, Productivity, Information Technology, Competitive strategy

Financial Leverage and Firm’s Value: A Study of Transport Equipment Sector Firms 
Dr Vikas Choudhary 
Capital structure is considered to be a crucial aspect in a firm’s performance that has occupied financial researchers for a long time. The role played by financial mangers becomes all the more imperative in the increasing competitive scenario in which they are required to focus on maximizing the firm value. The firm value can be maximized by taking critical financial decisions with regard to debt and equity. Thus, the ultimate goal of company’s financial management policy is to maximize the value of shareholders investment in the firm through investment and financing decisions. The financial managers also focus in determining the extent to which an optimal capital structure is affecting the value of the firm. There are some factors that play major role in influencing the way in which a company raises finance but emphasis should be on the target capital structure which impacts the value of a business. The present paper attempts to explore the relationship as well as to determine whether capital structure is relevant to firm value or not in case of Transport Equipment Sector Firms. For carrying out the study, a sample of 22 companies in Transport Equipment Sector listed on BSE-500 from 2001-2009 has been analyzed using Regression Analysis.
Key Words: Financial Leverage, Capital Structure, Firm Value.

Empirical Testing of Fama and French Risk Factors in the Indian Capital Market 
Rajeeva S, T Manjunatha 
The study tests Fama and French factors: the market factor, the size factor and the value factor by taking one at a time for their individual explanatory power over portfolio returns of the six size and value based portfolios formed on equal weight basis. The empirical study shows that intercepts are zero for a few portfolio regressions. The market factor explains 65% of portfolio returns of big stocks portfolio with low BE/ME ratio, the size factor explains 32% of small stocks portfolio with low BE/ME ratio and, value factor explains 23% of big stocks portfolio with high BE/ME ratio. But none of the univariate variables could explain portfolio returns fully.
Key words: intercept, market factor, size factor, value factor, portfolio returns.

A Study on Impulse Buying Behavior of Working Men and Women in Delhi/NCR 
Dr. Anagha Shukre 
Impulsive buying is a sudden and power urge to buy the product immediately without much thoughtful deliberate consideration of information, knowledge and choice alternative. The purpose of this study is to compare men and women for differences in decision making factors associated with impulse buying behavior and to identify gender differences in terms of impulsive purchases made from a variety of product categories. A total of 100 consumers served as the sample. Using factor analysis and chi-square tests, men and women were found to be significantly different with respect to affective process components (irresistible urge to buy, positive buying emotion and mood management) and cognitive process components (cognitive deliberation and unplanned buying). Significant differences were also found between men and women in the frequency with which the following product categories were purchased on impulse: apparels, accessories, shoes, electronics, music CDs or DVDs, health/beauty products, and household products etc. Numerous factors, which play a significant role in the impulse shopping of the customer, were studied in this study, The study extends to find out if there is any cognitive dissonance in the customer after making an impulse purchase and which gender suffers more with the cognitive dissonance. 
Keywords: Cognitive Dissonance, Gender Bias, Impulse buying behaviour

International Student Collaboration and Experiential Exercise Projects as a Professional, Inter-Personal and Inter-Institutional Networking Platform
José G. Vargas-Hernández 
This paper has the aim to analyze and to reflect on the experiential exercise from the point of views of instructor and students attending University Center of Economic and Managerial Sciences at University of Guadalajara and participating in the “X-Culture International Student Collaboration Project” as a professional, inter-personal and interinstitutional networking platform.
Key words: Experiential exercise projects, international student collaboration program, inter-institutional, networking, professional development, inter-personal.

Examining Assets Quality of Banks: A Comparative Study of Public, Private and Foreign Sector Banks Operating in India
Dr. P.Hanumantha Rao 
The NPAs have been considered as an important parameter to assess the performance and financial health of banks as it results in decline of margin and higher provisioning requirement for doubtful debts. The level of NPAs is an important driver of financial stability and growth of the banking sector. The present paper attempts to make a comparative study on the quality of assets of the banks under three the categories of public, private and foreign sector operating in India for a period of last six years i.e. from 2005-06 to 2010-11 as this was the most volatile time in the whole world economy. The quality of the assets has been judged under four categories, viz, standard assets, sub-standard assets, doubtful assets and loss assets.
Keywords: Non-performing assets, Assets classification, Provisioning requirement, CRR

Book Reviews
The TCS Story… And Beyond
Devaki Nadkarni


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