PACIFIC BUSINESS JOURNAL INTERNATIONAL

4

Authors: Dr. Meenu Maheshwari, Ms. Nidhi Goyal

Environmental degradation and climate change is one of the greatest chaallenges of this era. Along technological & industrial development emission of green house gases (GHGs) is increasing continuously which is the main factor of global warming. To deal with the issue of global warming a protocol has come into force. The major goal of Kyoto protocol is to reduce GHGs emission by minimizing threats of climate change in order to achieve global targets. To reduce emission of GHGs the environmental carbon trading practices are done on the basis of carbon credits earned at global scale. Carbon credit represents the allowance to emit one metric tonne of carbon dioxide equivalent. Carbon credits are the certificates which are issued for certifying emission reduction. These certificates are traded in the market and purchased by the companies of developed countries which are signatory to Kyoto protocol in order to cut down GHGs emission with the most cost effective way. It is a great source of revenues for the developing countries in terms of sale. But no proper accounting procedure has been followed by the commercial entities due to lack of proper guidelines. Accounting guidelines on carbon credits came into force on July 2009. Carbon credits are intangible assets and they need to be treated as inventory in the balance sheet till they are sold. The objective of this research paper is to discuss about the carbon credit and its accounting aspects. Also it reveals that carbon credits are not only essential to solve the environmental issues but they also act as a huge source of revenues for the developing and non-developed countries. In this context a case study of Delhi Metro Rail Corporation (India) is considered. DMRC has become the first rail project in the world to earn carbon credits by using regenerative braking system in its trains which reduces the electricity consumption by 30%.

5

Authors: Nilesh P. Movalia

Capital structure is an important decision of the business to fix the mmixture of debt and equity capital of the company. This study is on capital structure analysis and its impact on profitability of tyres industry in India. Researcher has taken 14 tyres companies listed under BSE and NSE. By studying Debt-Equity ratio. Objectives: Here major objective of this study is to know the relationship between Capital Structure and Profitability of Tyre Industry in India by studying all the listed companies in BSE and NSE. Study was undertaken by using five years data starting from 2009-10 to 2013-14. Methodology: As far as Research Methodology is concern here study is based on descriptive and analytical research design, by using convenient sampling, by using secondary sources of data and Durbin- Watson Statistics for testing hypotheses. Findings: From the study it is found that there was a significant relation between Capital structure (Debt-equity ratio) and Profitability of tyre companies. MRF, Apollo Tyres, Dunlop India and Modi Rubber are showing that relationship that ideal debt equity ratio helps to increase profitability of company. Scope of the Study: Study will be implemented and helpful to corporate managers, investors, researchers and management for framing and formation of capital structure of their company.

6

Authors: Manoj Kumar, Karuna Anand, Anup Shrivastava

This paper examines the impact on employee's satisfaction from the job because of stress at job, particularly on teachers. A sample of 200 employees from the 30 private institutions/universities from North India was used for this analysis. Job stress was measured by workload (no. of hours of lecturing, practices, tutorials and other activities such as class size, various exam evaluations etc.) and workplace environment (such as freedom, timings, career development opportunities etc). Prior studies in different firms indicate that the more stressed workload coupled with stressed workplace environment would severe negatively affect the employee's job satisfaction. This exploratory research focuses on private institutions/universities and employed faculty members and results that overall employee's job satisfaction was very poor.

8

Authors: Naeem Akhtar Rana, Asghar Tuba

The growing business competitions in the world have allowed the researcchers to adopt different strategies to go ahead of their competitors. In the last two decades, especially, it has been seen to exploit the celebrities as their brand ambassadors to put a positive impact on the customers.The research has been conducted to wirness the advertisement communication and its impact on the customers' purchase intentions with the celebrity endorsement. The survey is conducted on the students of a business university who frequently buy and sell new mobile phones. The instrument was adopted and approved by the experts of the filed in Pakistan. The sample of 300 students filled the questionnaires and data is analysed through Regression analysis. The instrument reliability is tested through Chronbach Alpha test and Factor Analysis.The results indicate that the celebrity endorsement has put a positive impact on the cusutomers' purchase intention. The customes are inclined to purchase those models of mobile phones which are endorsed by their favourite celebrities. It is,0 on the basis of results, recommended to involve famous and attractive celebrities to introduce new models of mobile phones on the market to grab the purchase intentions of the customers.

8

Authors: A. Muthusamy, S. Vevek

Options contract are non-linear pay off which provides maximum profit wwith less risk. There is a bench mark model called Black- Scholes-Merton (B-S-M) model proposed by Fischer Black, Myron Scholes and Robert Merton in 1973, which made brake through development in pricing the European call and put options. An index is a portfolio of out-performing stocks and hence interest in index investments has led to increased trading in index option thereby to hedge the market risk. This study attempts to price the Index Options of National Stock Exchange of India using B-S-M options pricing model and to estimate options strategy by comparing actual and fair options price on four option index namely, S & P CNX Nifty options, Nifty MIDCAP 50 options, Bank Nifty options and CNX IT options. Near month At-the-money contracts were chosen for the period of six years from 1st January, 2009 to 31st December 2014 for all the four indices. The finding of the study reveals that in most of the contracts the calculated options price differs from the market value of the options contract. Though many studies suggest that B-S-M model is best for estimating European options price, it provides arbitrage opportunity for the market participants in Indian market.

10

Authors: Geetinder Gill

Primary purpose of this paper is to develop a context-dependent, multi--perspective and multilevel concept called 'supply chain performance'; second to classify literature available on supply chain performance. The field related to performance among supply chain partners has historically been collected through studies in micro- functional areas. While some effort towards producing a broader organizational perspective has been made, nonetheless, performance in SCM continues to be largely eclectic with little consensus on its conceptualization and research methodological bases. A number of key findings emerged: consensus is lacking on the definition of the term; research on supply chain performance emphasizes to focus on financial goals and negligible attention is given to non-financial parameters, such as, customer satisfaction, responsiveness of the supply chain and competitive advantages. Lack of theories related to competitive aspect of SCP is also found. This review paper has attempted to identify various conceptual and research methodological aspects of supply chain performance along with its classification and various systems followed for the evaluation of performance among partners. This review may be one of the first to develop a context for multi-perspective multilevel concept called performance among supply chain members in Indian context.

12

Authors: Dr. Sudhir Chandra Das

The main focus of the study is to divide the strength of work-life balance practices in between private and public sector insurance companies by two step cluster analysis. The purpose of application of cluster analysis is to place subjects/objects into groups, or clusters, suggested by the data, such that objects in a given cluster are homogenous in some sense, and objects in different clusters are dissimilar to a great extent. The study being observed with eight objects namely work overload, stress management, role clarity, late finishing nature of job, flexi-schedules, career development, employees well-being and additional responsibilities consisting assistant and managerial cadre employees with a sample size of 200 public sector and 240 private sector respondents. For determining which number of clusters is "best", each of these cluster solutions is compared using Schwarz's Bayesian Criterion (BIC), and the study found two groups, i.e., cluster 1 and 2. While Cluster 1 consist six variables and their importance by order (Bonferroni Adjustment Applied) namely role clarity, flexi-schedules, late finishing nature of job, stress management and additional responsibility, whereas in second cluster order of preference are late finishing nature of job, role clarity flexi-schedules, work overload, stress management and additional responsibilities etc. It is to be noted that two variables namely employee's well being and career development are not found significantly different and they are not forming any cluster. The results suggest that private sector insurance employees enjoy considerably less work-family integration than public sector employees. It is possible that employees in the private sector would eventually withdraw from this sector and move into public sector jobs as a means to achieve better work-family integration. This paper recommends management should consider the nature of organization and techniques of work-life balance and customize their policies with the participation of the employees.