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        Strategic Alliance within the Sugar Industry of Pakistan: A Resource Dependence Perspective

        Rameesha AMAN,Abdul Rehman KHAN 한국유통과학회 2021 Asian Journal of Business Environment (AJBE) Vol.11 No.4

        Purpose: This paper uses the resource-dependency theory to present the case of the Pakistan sugar industry to highlight how the industry uses a strategic alliance to gain a powerful bargaining position over its critical dependencies. The case of the Pakistan sugar industry is well-known and it is common knowledge that the alliance or the cartel within it is responsible for frequent price hikes and sugar supply shortages in the country. Research design, data and methodology: We use a case study, qualitative document analysis design to trace how the alliance overcomes its various dependencies, and in doing so, how does it harm various stakeholder interests. Results: This paper finds that the sugar industry alliance maintains its bargaining power by manipulating sugar supply through horizontal alliances, political affiliations, underselling and under-reporting sugar stocks, purchasing sugarcane from the black market, and by gaining billions of rupees in export subsidies by hoarding stock and using its political connections. Conclusion: The paper concludes by providing a summary of the measures which the government has taken to curb this anticompetitive conduct; the most important of which is the removal of protectionist measures for sugar trade and allowing market forces to control the demand and supply of sugar in the local market.

      • Strategic Alliance within the Sugar Industry of Pakistan: A Resource Dependence Perspective

        AMAN, Rameesha,KHAN, Abdul Rehman Korea Distribution Science Association 2021 Asian journal of business environment Vol.11 No.4

        Purpose: This paper uses the resource-dependency theory to present the case of the Pakistan sugar industry to highlight how the industry uses a strategic alliance to gain a powerful bargaining position over its critical dependencies. The case of the Pakistan sugar industry is well-known and it is common knowledge that the alliance or the cartel within it is responsible for frequent price hikes and sugar supply shortages in the country. Research design, data and methodology: We use a case study, qualitative document analysis design to trace how the alliance overcomes its various dependencies, and in doing so, how does it harm various stakeholder interests. Results: This paper finds that the sugar industry alliance maintains its bargaining power by manipulating sugar supply through horizontal alliances, political affiliations, underselling and under-reporting sugar stocks, purchasing sugarcane from the black market, and by gaining billions of rupees in export subsidies by hoarding stock and using its political connections. Conclusion: The paper concludes by providing a summary of the measures which the government has taken to curb this anticompetitive conduct; the most important of which is the removal of protectionist measures for sugar trade and allowing market forces to control the demand and supply of sugar in the local market.

      • SCOPUS

        Impacts of Transparency and Disclosures on Firm Valuation of the Healthcare Sector in India

        Saumya SINGH(Saumya SINGH ),Pracheta TEJASMAYEE(Pracheta TEJASMAYEE ),Venkata Mrudula BHIMAVARAPU(Venkata Mrudula BHIMAVARAPU ),Arpita SHARMA(Arpita SHARMA ),Rameesha KALRA(Rameesha KALRA ),Sanjeev KA 한국유통과학회 2023 The Journal of Asian Finance, Economics and Busine Vol.10 No.2

        This study’s principal goal is to find the interrelation between transparency & disclosure (TD) and the healthcare sector’s firm valuation (FV). The paper uses the market-to-book (MTB) ratio and market capitalization as proxies, where sales measure act as a control variable. Dynamic panel data regression (PD) is the method applied for analyzing data. Data pertains to 10 healthcare companies gathered over five years (2016-2020). Results imply that TD has a negative and significant influence on the FV, where market capitalization acts as a proxy for valuation. This association indicates that a greater degree of TD diminishes FV. TD is also reported to have a negative and insignificant association with MTB. Therefore, TD does not influence FV. The findings of this paper have significant practical implications. Results can help policymakers determine mandatory disclosure levels that are not detrimental to the healthcare sector. Managers and analysts must also analyze the dimensions of disclosure that can negatively impact the firm’s valuation and make decisions regarding TD accordingly. This is the first study to assess the influence of TD on the FV of the Indian healthcare sector, which makes it unique. This study is limited to the healthcare sector, which is its shortcoming.

      • SCOPUS

        Competition Impacts on the Financial Distress of Firms in the Healthcare Sector in India

        Venkata Mrudula BHIMAVARAPU(Venkata Mrudula BHIMAVARAPU ),Jagjeevan KANOUJIYA(Jagjeevan KANOUJIYA ),Vikas TRIPATI(Vikas TRIPATI ),Pracheta TEJASMAYEE(Pracheta TEJASMAYEE ),Rameesha KALRA(Rameesha KALR 한국유통과학회 2023 The Journal of Asian Finance, Economics and Busine Vol.10 No.2

        Competition assures improved products and services to meet customers’ needs. The soundness of a firm’s financial health is crucial for the country’s economic well-being. Distressed companies cause investor panic, which has a knock-on effect on the economy and leads to a deterioration in the image and value of the companies. This paper aims to empirically investigate the influence of competition on financial distress (FD) in the healthcare industry using the Altman Zscore values as the proxy for FD. This study uses secondary data from ten healthcare companies operating in India between 2016 and 2020. The study’s findings indicate a significant negative relation with the exogenous variables of the study, implying that a higher level of competition enhances a firm’s FD or adversely affects financial health. The main implication of the study is two-pronged. Firstly, the firms’ managers and decision-makers need not worry about competition as a deterrent to stability. Secondly, the policymakers need not be concerned that high competition may lead to financial stress for the firms. Therefore, this paper concludes that competition is good for firms operating in India.

      • Prediction of a research vessel manoeuvring using numerical PMM and free running tests

        Tiwari, Kunal,Hariharan, K.,Rameesha, T.V.,Krishnankutty, P. Techno-Press 2020 Ocean systems engineering Vol.10 No.3

        International Maritime Organisation (IMO) regulations insist on reduced emission of CO<sub>2</sub>, noxious and other environmentally dangerous gases from ship, which are usually let out while burning fossil fuel for running its propulsive machinery. Contrallability of ship during sailing has a direct implication on its course keeping and changing ability, and tries to have an optimised routing. Bad coursekeeping ability of a ship may lead to frequent use of rudder and resulting changes in the ship's drift angle. Consequently, it increases vessels resistance and also may lead to longer path for its journey due to zigzag movements. These adverse effects on the ship journey obviously lead to the increase in fuel consumption and higher emission. Hence, IMO has made it mandatory to evaluate the manoeuvring qualities of a ship at the designed stage itself. In this paper a numerical horizontal planar motion mechanism is simulated in CFD environment and from the force history, the hydrodynamic derivatives appearing in the manoeuvring equation of motion of a ship are estimated. These derivatives along with propeller thrust and rudder effects are used to simulate different standard manoeuvres of the vessel and check its parameters against the IMO requirements. The present study also simulates these manoeuvres by using numerical free running model for the same ship. The results obtained from both these studies are presented and discussed here.

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