Greetings from the Editor’s desk! It is my pleasure to bring you Volume 31, No. 2, the June 2019 issue, with its complement of articles and features. This issue features seven research articles in the broad areas of organisational behaviour and human resource management, finance, and economics. The round table feature article is on angel investments in India and the issue carries a book review as well.
In “Determinants of managerial compensation: An empirical exploration”, Rajiv Kumar, Sahadeb Sarkar, and Amit Dhiman attempt to explore the possible antecedents of managerial compensation, motivated by the challenges faced by the HR managers of a reputed manufacturer of high-technology products in explaining the reasons behind variations in managerial compensation to the managers. Ashish Pandey, Vishal Gupta, and Rajen K. Gupta, in their paper, “Spirituality and innovative behaviour in teams: Examining the mediating role of team learning” explore the inter-connections between spirituality, innovative behaviour of teams, and team learning using data from 66 teams across 12 business organisations operating in different sectors of the economy.
In “Investor sentiment and its role in asset pricing: An empirical study for India”, Piyush Pandey and Sanjay Sehgal explore the relationship between investor sentiment and market performance of stocks. Soumya G. Deb explores whether a good past performance is indicative of a fund’s subsequent performance, for actively managed equity mutual funds in India, in the paper “Persistence in performance of actively managed equity mutual fund: New Indian evidence”, and finds evidence of short-term persistence overall and more so for larger, older, and high expense-ratio funds, which have significant implications for stakeholders in the mutual fund industry. In “News-based supervised sentiment analysis for prediction of futures buying behaviour”, Ritu Yadav, A. Vinay Kumar, and Ashwani Kumar, use data from the NSE futures market to explore the role of news flows in influencing market behaviour of investors and prices.
Rudrani Bhattacharya, Richa Jain, and Abhishek Singh evaluate the role of mark-ups at the wholesale and retail level on wholesale price index (WPI) and consumer price index (CPI) food inflation in their paper, “Measuring the contribution of mark-up shock in food inflation in India”, providing insights on factors contributing to food inflation.
In “Techno-commercial feasibility analysis of 4G mobile services in India”, Ashutosh Jha and Debashis Saha assess the feasibility of deploying Long Term Evolution (LTE) networks to provide high-speed broadband connectivity to mobile subscribers both in the rural and the urban parts of India. Their analysis provides valuable insights on policy measures needed to enhance investments in telecom infrastructure.
In the Round Table article titled “Angel investments in India – trends, prospects and issues”, G. Sabarinathan provides an overview of the growing angel investment market in India. A panel comprising angel investors, founders of angel networks, and mentors share their perspectives and experiences of angel investing and explore many of the relevant issues such as how developments in the world of start-ups and entrepreneurship have affected angel investors, the importance of face to face interactions with the investee companies, the process of investment management followed by angel investors, the trends in angel investing, and the regulatory and policy issues that affect the activity.
This issue carries the review by Ankur Jain of the book, “Field guide to leadership development”, edited by Steve Kempster, Arthur F. Turner, and Gareth Edwards, published by Edward Elgar Publishing.
Happy reading!
Ashok Thampy
Editor-in-Chief
IIMB Management Review
E-mail address: eic@iimb.ac.in
