Informatics Publishing Limited

Navleen Kaur ¹, Jasmindeep Kaur ²

Affiliations
1 Department of Commerce, S.A. Jain (P.G.) College, Ambala, IN
2 Department of Commerce, Punjabi University, Patiala, IN

Abstract

The main objective of this study is to identify the most significant determinants of capital structure of original equipment manufacturers from Indian Automobile Industry which are listed on the Bombay Stock Exchange for the period 2003-04 to 2016-17. To achieve the objectives of the study, hypotheses were formulated on the basis of review of various theories of capital structure viz. Pecking Order Theory, Static Trade-off Theory, etc. and empirical evidences on the subject. Descriptive statistics, analysis of correlation, and panel data regression including regression diagnostics have been used as statistical tools to identify the most significant determinants of capital structure of the sample companies. STATA software was used for the analysis of the data used in the present study. The results of the analysis carried out in the study revealed that the most significant determinants of capital structure of the sample companies during the selected time period were profitability of company, size of company, liquidity position of company, tangibility of assets, and operating cash flow, while non-debt tax shield, and effective tax rate did not show any significant relationship with the capital structure of the companies under consideration during the period of study. The study also observed evidences in support of Pecking Order Theory, and Free Cash Flow Theory, but no evidences were found in support of Static Trade-off Theory. This study provides useful insight pertaining to the financing behaviour of automobile manufacturing companies in India.

Keywords

Capital structure, Debt, Automobile companies, Manufacturing, Panel data regression, Determinants.

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Navleen Kaur ¹, Jasmindeep Kaur ²

Affiliations
1 S.A. Jain (P.G.) College, Ambala City, Haryana, IN
2 Punjabi University, Patiala, Punjab, IN

Abstract

The present study is an attempt to ascertain the determinants of profitability of automobile industry in India by taking a sample of all the automobile firms covering various segments of automobile industry in India viz. commercial vehicles, three wheelers, two wheelers, and passenger vehicles which are listed on Bombay Stock Exchange (BSE), for a period of eleven years from 2003-04 to 2013-14. In order to achieve the objectives of the study, firm-specific factors viz. financial leverage, size of firm, tangibility of assets, growth of firm, liquidity, inventory turnover ratio, debt equity ratio, debtors turnover ratio, total assets turnover ratio, average payment period, and cash liquidity of firm are regressed against return on assets ratio. Firstly correlation analysis and multiple regression analysis are applied to identify the factors affecting profitability of sample firms. Further, to find out the prominent factors that account for the variation in profitability of sample firms, stepwise regression analysis has been carried out. It was found that profitability of automobile industry in India is significantly influenced by the liquidity position of firm, growth of firm, inventory turnover ratio, debt equity ratio, and average payment period.

Keywords

Profitability, Automotive, Automobile, Multiple Regression Analysis, Stepwise Regression Analysis, Secondary Data.

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Navneet Kaur ¹, Navleen Kaur ¹

Affiliations
1 Department of Community Education and Disability Studies, Panjab University, Chandigarh, Punjab, IN

Abstract

Sustainable development being the buzzword word for the present century has spread as a wildfire. This concept finds its mention in almost every field imaginable, be it environment, social welfare, health, medicine, education and many more. The very fact that this concept has caught everyone's eye proves its significance. We as a society today, are sitting on a ticking time bomb, with sustainable development being the only escape. The best way to understand, acknowledge and make this escape route a part of our lifestyle is through, 'education'. Thus, the present paper is an attempt to highlight the importance of life skills education for human resource development which will result in sustainable development leading to a better tomorrow.

Keywords

Education, Human Resource Development, Life Skills, Sustainable Development.

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Navleen Kaur ¹, Gagandeep Banga ¹, Babita Kumar ¹

Affiliations
1 School of Business Studies, Punjab Agricultural University, Ludhiana, Punjab, IN

Abstract

The employees of organized retail stores are facing extreme stressful situations due to tough competition and it's only under these stressful conditions one's hold on his her emotions can be checked. Emotional intelligence has a direct effect on job satisfaction as well as job performance of the employees. It has been considered as the major predictor of work performance. The present study was undertaken to study emotional intelligence and its effect on job satisfaction of employees of organized retail stores. For the study, 50 departmental stores were identified and 7 employees were selected from each store on the basis of Random Sampling, thus a total of 200 respondents were selected for the study. The study revealed that higher Emotional Intelligence leads to higher Job Satisfaction of employees. The various parameters on which Emotional Intelligence was measured were Self-Awareness, Managing Emotions, Motivating Oneself, Empathy and Social Skill. It was found that Empathy was the most important predictor which affected the Job Satisfaction of the employees to a major extent.

Keywords

Emotional Intelligence, Job Satisfaction, Organized Retail Stores.

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