Application of Norwegian Method of Tunnelling (NMT) Principles to bypass landslides in mountainous terrain

Bhasin, Rajinder,Aarset, Arnstein Korean Tunnelling and Underground Space Associatio 2020 자연, 터널 그리고 지하공간 Vol.22 No.1

Tunnelling to bypass major landslide areas is considered as a good and long-term environmentally friendly solution to reduce an existing hazard. In Norway, hundreds of kilometres of tunnels have been constructed in areas prone to landslides and snow avalanches. Although tunnelling is considered as an expensive mitigation strategy for bypassing landslides, analysis indicate that in some cases the cost of building a tunnel can be repaid by savings in driving costs (fuel) alone over a period of 5-10 years due to reduced driving distances. The other benefits of constructing tunnels in landslide areas include savings in time and increased safety. The Norwegian Method of Tunnelling (NMT) is considered safe, efficient and cost effective compared to other tunnelling techniques. Some aspects of NMT, which are considered safe and cost efficient, are presented. The application of updated rock support techniques, including reinforced ribs of shotctrete (RRS), which is a key component of the Norwegian Method of Tunnelling (NMT), is highlighted.

A Study of Economic Value Added Disclosures in the Annual Reports: Is EVA a Superior Measure of Corporate Performance?

Bhasin, Madan Lal East Asia Business Economics Association 2017 East asian journal of business management Vol.5 No.1

This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the 'traditional' measures of financial performance on account of its robustness and its immunity from 'creative' accounting. Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are "not mandatory for the Indian companies." Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. The study indicates that "there is no strong evidence to support Stern Stewart's claim that EVA is superior to the traditional performance measures in its association with MVA." As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India.

Finite Element and Distinct Element Analysis of the Stability of a Large Underground Hydropower Machine Hall in the Himalayas

Rajinder Bhasin,Thomas Pabst 대한토목학회 2015 KSCE JOURNAL OF CIVIL ENGINEERING Vol.19 No.3

Numerical simulations have been performed to assess the stability of a large underground powerhouse in the Himalayas, using bothfinite element and distinct element approaches. Large convergences (around 250-300 mm) along the 45 m high wall of the MachineHall have been measured by total station measurements during construction and up to 60 mm in the post construction and operationalphase. Displacements are continuing at a reduced rate of about 3 to 6 mm per year. A large number of rock bolts have failed in thepowerhouse and the shotcrete liner presents cracks and failure marks, thus questioning the long-term integrity and stability of theexisting rock support system. The purpose of the numerical analysis was to back-calculate the prevailing rock mass conditionssurrounding the machine hall, thereby gaining a better understanding of the mechanisms responsible for the instability in the cavern. The results from the analysis indicate that there was possibly an underestimation of the rock support requirements needed for thecavern, coupled with a not so good installation (incomplete grouting of the bolts). Both the length and the capacity of the rock boltswere underestimated presumably due to the existence of a high stress regime in the area, which may not have been taken intoconsideration in the design of rock support. The effect of a possible earthquake, frequent in this area, has also been studied and provesto induce a significant increase of the displacements and the support failure.

Integrated Reporting: A New Paradigm of Corporate Reporting

Madan Lal Bhasin 국제융합경영학회 2017 융합경영연구 Vol.5 No.2

The landscape of corporate reporting is changing quickly. The concepts, elements and principles that characterize the way organizations plan, manage and report their annual performances are currently being questioned, debated, and redesigned throughout the world. However, widening the scope of corporate performance and reporting is a major issue. Research needs to bridge the gap between social and financial performance by considering corporate performance in a wider perspective. At base, IR is a relatively new but powerful idea: enhancing the way organizations think, plan and report the story of their business. Organizations are using IR to communicate a clear, concise, integrated story that explains how all of their resources are creating value. This paper examines the rise of what has been widely claimed to represent a new and striking future for corporate reporting, namely the notion of “Integrated Reporting” (IR). Unfortunately, there is poor empirical research work undertaken which has focused on published integrated reports. This research study provides initial analysis of the content and structure of the corporate integrated reports published in 2013 and available on the International Integrated Reporting Council (IIRC) Emerging Examples Database. As part of this study, Integrated Reports were analyzed for company information, report information and report content. Moreover, they were also evaluated as to the extent these adhered to the integrated reporting (IR) Guiding Principles, Content Elements, and the multiple capitals model. Findings of this study indicate that “early integrated reports were mostly lengthy, fail to adhere to all the guiding principles, and covered four of the six capitals suggested.” At present, no universally accepted global framework for IR exists and it is still largely a voluntary practice. We believe that IR of both financial and non-financial performance should be made mandatory, and it should become a universal practice for all the global listed companies within the next 5-10 years.

Role of Forensic Accounting to Strengthen Corporate Governance

Madan Lal Bhasin 국제융합경영학회 2017 융합경영연구 Vol.5 No.1

An increasing number of researchers are finding that ‘poor’ CG is a leading factor in dismal performance, manipulated financial reports, and unhappy stakeholders. Undoubtedly, qualified, trained and mature Chartered Forensic Accountants (CFA’s) can prove to be a valuable asset to the corporate sector, and gradually help to improve their CG system. The fundamental objective of this study is to find out “how can we integrate the expertise of the FA to improve the overall CG scenario prevalent in India?” This is a preliminary investigation of the necessary skills, educational and training requirements for CFA’s to improve CG system. During 2011-12, a questionnaire-based survey was conducted in the NCR of India using a sample size of 120 practicing chartered accountants, accounting academics, and potential users of FA services. Results indicate that potential practitioners, academics and users agree that “critical thinking, written & oral communication, legal knowledge, auditing skills, deductive analysis, investigative flexibility, analytical proficiency and unstructured problem-solving are the most important skills required for the CFAs.” Moreover, we found that all of the skills investigated in this study are ‘potentially’ important for the CFAs, which the educators at the Universities should use as an overall guide while designing their FA curriculum.”

Fraudulent Financial Reporting Practices: Case Study of Satyam Computer Limited

Madan Lal Bhasin 국제융합경영학회 2016 융합경영연구 Vol.4 No.3

Fraudulent financial reporting practices can have significant consequences for organizations and all stakeholders, as well as, for public confidence in the capital and security markets. In fact, comprehensive, accurate and reliable financial reporting is the bedrock upon which our markets are based. Keen to project a rosy picture of the Satyam to investors, employees and analysts, Mr. Raju (CEO and Chairman) fudged the account books so that it appeared to be a far bigger enterprise, with high profits and fast growth rate, than it actually was. The Satyam fraud has shattered the dreams of different categories of investors, shocked the government and regulators alike, and led to questioning of the accounting practices of statutory auditors and corporate governance norms in India. This is an exploratory study based on secondary sources of information. An attempt has been made to provide an explanation for various intriguing questions about Satyam scam. After thorough investigations by the CBI and SEBI, they have unveiled the methodology by which Satyam fraud was engineered. Finally, we recommend “Fraudulent reporting practices should be considered as a serious crime, and accounting bodies, courts and other regulatory authorities in India need to adopt very strict punitive measures to stop such unethical practices.”

Intellectual Capital Measurement and Disclosure : A New ‘Paradigm’ in Financial Reporting

Madan Lal Bhasin 국제융합경영학회 2016 융합경영연구 Vol.4 No.4

In today’s knowledge-based economy, measurement and disclosure (M&D) of intellectual capital (IC) are crucial for enhancing business performance and competitiveness. In the global world, M&D of IC are useful means to keep investors well-informed and reduce information asymmetry. At present, very few leading corporations in India have disclosed IC information on a ‘voluntary’ basis. Traditional accounting practices, therefore, will need to assimilate innovations that seek to meaningfully represent the ‘true-value’ of the intangible assets of the company. This is an exploratory study of IC M&D by 8 Indian companies over 5-year period, using ‘content’ analysis and market-value-added (MVA) as research methodologies. The annual reports of companies were collected from their respective websites. As part of present study, various statistical techniques have been used to analyze the data. The findings show that the sample companies, on an average, reported a positive value of IC, along with wide-disparity, low-level of ICD. Unfortunately, the omission of IC information may adversely influence the quality of decisions made by shareholders, or lead to material misstatements. Finally, we recommend to “the international accounting bodies, to take the lead by establishing a harmonized ICD standard, and provide guidance to the big listed-companies for proper measurement and disclosure of IC, both for internal and external users.”

Study of Economic Value Added Disclosures in the Annual Reports: Is EVA a Superior Measure of Corporate Performance?

Madan Lal Bhasin 동아시아경상학회 2017 The East Asian Journal of Business Economics Vol.5 No.1

In the modern era, investors, creditors, analysts and other stakeholders are requiring much more insight about company’s performance, strategic direction and exposure to risk. This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the ‘traditional’ measures of financial performance on account of its robustness and its immunity from ‘creative’ accounting. Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are “not mandatory for the Indian companies.” Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. In this regards, EVA and the conventional measures of corporate performance, such as, RONW, ROCE and EPS are analyzed. Moreover, ANOVA, trend analysis and regression analysis are used for analyzing the data. The study indicates that “there is no strong evidence to support Stern Stewart’s claim that EVA is superior to the traditional performance measures in its association with MVA.” As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India. During 2010-11, just 17 Indian companies, from a sample of 500, were providing EVA disclosures in their annual reports.

Fraud Scenario Prevalent in the Banking Sector: Experience of a Developing Country

Madan Lal Bhasin 동아시아경상학회 2016 The East Asian Journal of Business Economics Vol.4 No.4

Banks are the engines that drive the operations in financial sector, money markets and growth of economy. With growing banking industry in India, frauds in Banks are increasing and fraudsters are becoming more sophisticated and ingenious. Shockingly, banking industry in India dubs rising fraud as “an inevitable cost of doing business.” As part of study, a questionnaire-based survey was conducted in 2012-13 among 345 Bank employees “to know their perception towards bank frauds and evaluate factors that influence the degree of their compliance level.” The study reveals, “there are poor employment practices and lack of effective employee training; usually over-burdened staff, weak internal control systems, and low compliance levels on the part of Bank Managers, Offices and Clerks. Although banks cannot be 100% secure against unknown threats, a certain level of preparedness can go a long way in countering fraud risk. Internal audit professionals should play an integral role in organization’s fraud-fighting efforts. Some other promising steps are: educate customers about fraud prevention, make application of laws more stringent, leverage the power of data analysis technologies, follow fraud mitigation best practices, and employ multipoint scrutiny. In 2015, the RBI has introduced new mechanisms for banks to check loan frauds by taking pro-active steps by setting up a Central Fraud Registry, introduced the concept of Red Flagged Account, and Indian investigative agencies (CBI, CEIB) will start sharing their databases with banks.

Kinetics and Mechanism of Electron Transfer Reaction: Oxidation of Sulfanilic Acid by N-Chloro-p-Toluene Sulfonamide in Acid Perchlorate Medium

Sailani, Riya,Bhasin, Meneka,Khandelwal, C.L.,Sharma, P.D. Korean Chemical Society 2014 Bulletin of the Korean Chemical Society Vol.35 No.1

The kinetics and mechanism of oxidation of sulfanilic acid by N-chloro-p-toluene sulfonamide (chloramine-T) have been studied in acid medium. The species of chloramine-T were analysed on the basis of experimental observations and predominantly reactive species was taken into account for proposition of most plausible reaction mechanism. The derived rate law (1) conforms to such a mechanism. $$-\frac{d[CAT]}{dt}=\frac{kK_1[RNHCl][SA]}{K_1+[H^+]}$$ (1) All kinetic parameters were evaluated. Activation parameters such as energy and entropy of activation were calculated to be $(61.67{\pm}0.47)kJmol^{-1}$ and $(-62.71{\pm}2.48)kJmol^{-1}$ respectively employing Eyring equation.