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The objective of this paper is to investigate the effect of working capital efficiency (WCE) and its components on the composite financial performance of a sample of Indian firms.

Our sample includes 796 non-financial listed firms from 2015–16 to 2021–22. Sample firms’ profitability, liquidity, solvency, cash flow management, and financial and operational leverage have been used to classify them into companies with high composite financial performance (HCFP) and with low composite financial performance (LCFP) by using K-Means Clustering technique. A composite financial performance score (CFPS) of 1 has been assigned to HCFP and 0 to LCFP. We have used logistic regression models with fixed effect to estimate the effect of cash conversion cycle (CCC) and its components, i.e. inventory days, accounts receivable days and accounts payable days on CFPS in the presence of control variables such as growth, leverage, firm size, and age.

The study finds that CCC and inventory days are inversely associated with CFPS. This finding shows that the firms’ WCE leads to superior financial performance on a composite basis.

The research findings are based on samples drawn from the population of the listed Indian non-financial companies. Since the operation, financial practices, working capital policies, and management styles of firms vary greatly among nations, the results of this study should be extended to firms in other countries after taking into account the degree of resemblance to the sample firms.

The findings of this study hold significant value for industry practitioners, as they provide guidance in determining the optimal allocation of funds for working capital and devising strategies for effectively managing inventory levels, credit sales, and vendor payments in order to increase the overall value of the company. This study aims to help investors in building their investment portfolios by identifying companies with superior composite financial performance. Investors can enhance the construction of their investment portfolios by strategically selecting companies that demonstrate superior overall performance.

The results of our study will help companies improve their WCM strategies to enhance their overall value, and their significance increases manifold during economic downturns. Business firms that perform well by efficiently managing their working capital have a multiplier effect on the economy and society at large in the form of GDP contribution, labor income, taxes to the government, investment in capital assets, and payments to suppliers.

To understand the impact of WCE on firms’ performance, the extant working capital literature focuses on some specific characteristics such as profitability, valuation, solvency, and liquidity. The limitation of employing a single parameter is its inability to present the comprehensive performance evaluation of firms. This study is among the earliest studies that focus on the holistic evaluation of WCE's impact on the composite performance of a company.

The case deals with the Supreme Court's decision of August 31, 2012, ordering Sahara to refund Rs. 24,000 crores and interest to SEBI, so as to refund to the real investors. Despite unambiguous orders, Sahara did not comply fully and kept on prolonging the matter using number of pretexts, ultimately resulting in Roy's arrest. The case has been primarily written for easy understanding of facts, principles of corporate governance, and further developments, as mentioned in judgment, which runs into hundreds of pages. It depicts the legal journey of the fight between a company and the financial regulator in the country.

This article attempts to study the influence of 1,2,3,4-Butane tetra carboxylic acid (BTCA)treatment on the properties of tassar silk fabric. Indian tassar (Anthrea mylitta D) silk fabrics have been treated with BTCA, a non-formaldehyde cross-linking agent, in the presence of sodium hypophosphite monohydrate as the catalyst and non-ionic polyethylene emulsion as the softener. Fabric shrinkage (dimensional stability) in the warp and weft directions shows significant improvement after treatment and also, a 10% improvement in the fabric crease recovery is observed. Although the single yarn strength is not significantly affected, the elongation of yarn decreases by 15%. Similarly, the fabric tensile strength and air permeability properties are the least affected, but the fabric tearing strength significantly increases after treatment with BTCA. The treatment displays promising results for tassar fabrics, which are inherently susceptible to shrinkage issues.

This case describes the vulnerability of the Indian aviation sector by highlighting the fall of Jet Airways from one of the biggest airlines in India to bankruptcy. The present case discusses the role of Jet Airways' leadership in managing the external threats that affect aviation business in India.

The present case is built on data collected from secondary sources, including publicly available information about the company, journals, websites, newspapers and reports.

The case reports findings of how hubris-driven strategic decisions and insecurity of the leader in losing control of the company, led to the grounding of one of the major airline companies in the Indian aviation industry.

The present case study provides valuable insights into the aviation industry in India, focusing on the threats to the aviation business. The case is useful to other airline companies and the aviation business community in dealing with external threats to business and issues of leadership dysfunction.

This paper aims to assess the relationships amongst the tearing strength of fabrics after each chemical processing stage and after finishing of plain-woven cotton fabric. An effort has been made to study the effect of different finishing chemicals (tear improver) and their different concentrations on the high-density fabric tear strength and its sub-component with respect to the co-efficient of friction value of yarns for all the fabric samples. It also aims to establish a statistical model for prediction of tear strength with identified parameters as yarn–yarn friction co-efficient, yarn pullout force and single yarn strength.

In case of woven fabrics, it cannot be assumed that only yarn friction plays the role in deciding fabric-tearing strength. Whether the static or kinetic frictions need to be considered or the linear or capstan frictions have to be analyzed, to incorporate the results of friction analysis in the tearing behavior, need to be assessed. In the present work through a fabrication of yarn–yarn friction measurement, under a synchronized slow speed as that of actual fabric tearing (50 mm/min), has been carried out. After each wet processing stage, surface characteristics of yarns have been changed. Surface of yarns becomes smoother after finishing and rough after dyeing, which affects the co-efficient of friction of yarns, accordingly.

After each wet processing stage, the surface characteristics of yarns are changed. Surface structure of yarns becomes smooth after finishing and rough after dyeing, which affects the co-efficient of friction of yarns. For all the fabrics, the weft-way tearing strength is always higher than warp-way tearing strength. It is also observed that yarn pullout force is not the only responsible factor for tearing strength of such fabric. It is because of the combined action of yarn–yarn friction, yarn pullout force and single yarn strength for a given structure.

A more extensive investigation with respect to concentration as well as further variety of chemicals requires to be identified for the optimum concentration level for each chemical. A mathematical model based on the three parameters as yarn–yarn co-efficient of friction, yarn pullout force and yarn strength for all woven fabric structure to achieve optimum strength level has been established which could be further extended for each fabric structures.

The problem has been identified from the day-to-day exercise of the commercial textile industry. The whole of the sample preparations have been done in the industry by using commercial machines under standard industrial conditions. The findings have been discussed and suitably introduced in the industry.

The whole of this paper has been unique in idea origination, sample preparation and execution of tests. The findings are very important for the researchers as well as for textile industry.

The handicraft sector is unorganized with huge potential for the economic upliftment of the bottom of the pyramid (BOP) craft producers. To ensure the sustainable livelihood of the artisans living in BOP, it is essential to identify the hurdles being faced by them so that they can be worked upon. This paper aims to look at the existing handicraft value chain in an integrated way to identify these hurdles and suggest probable solutions to mitigate them.

A two-stage study involving quantitative and qualitative approaches is used. Empirical observations from 218 artisans were analyzed using the relative to an identified distribution to rank the different variables affecting the functioning of the handicraft value chain. Next, 17 handicraft entrepreneurs were interviewed to identify solutions for the hurdles.

A two-stage study examining the perspectives of artisans and handicraft entrepreneurs identified five significant challenges affecting the handicraft sector and viable solutions to address them. While presenting an operational model, a comprehensive picture of the handicraft business ecosystem was studied, from the procurement of raw materials to the marketing and sale of finished products. This can assist handicraft producers in sustaining their livelihoods and expanding the industry.

Studies on the handicraft value chain at BOP are rare, and none have tried to look at the sector holistically to find solutions and propose an operational framework. The study has captured the voices of the artisans and handicraft entrepreneurs and, through a mixed-method approach, identified the main pain points of the BOP artisans to arrive at a workable solution for better business outcomes.

This paper aims to analyze the potentials of dynamic, commitment and revenue-sharing contracts; that a nonrebate offering manufacturer can use to safeguard his profit while his competitor offers customer rebates in a supply chain consisting of two manufacturers and a common retailer.

We consider a two-period supply chain model to explore optimal decisions under eight possible scenarios based on the contract and rebate offering decisions. Because the manufacturers are selling substitutable products, therefore, a customer rebate on one of the products negatively impacts the selling quantity of other. Optimal price, rebate, and quantities are examined and compared to explore the strategic choice for both the rebate offering and non-rebate offering manufacturer. Comparative evaluation is conducted to pinpoint how the parameters such as contract parameters and its nature affect the members.

The results demonstrate that all these contracts instigate the rebate offering manufacturer to provide a higher rebate, but do not ensure a higher profit. If the revenue sharing contract is offered to the common retailer, the effectiveness of the rebate program might reduce significantly, and the rebate offering manufacturer might receives lower profits. A non-rebate offering manufacturer might use a commitment contract to ensure higher profits for all the members and make sure the common retailer continues the product.

The effect of customer rebate vs. supply chain contract under competition has not yet been explored comprehensively. Therefore, the study contributes to the literature regarding interplay among pricing decision, contract choice and rebate promotion in a two-period setting. The conceptual and managerial insights contribute to a better understanding of strategic decision-making for both competing manufacturers under consumer rebates.

This study aims to suggest that firms and stock market investors are more sensitive about inventory leanness when industry information technology (IT) usage is high. First, when industry IT usage is high, a firm's inventory leanness is more responsive to information inputs (cash holding and sales efficiency). Second, when industry IT usage is high, the price-to-earnings ratio (indicative of stock market investors' willingness to pay a premium) is more sensitive to the firm's inventory leanness.

This study highlights the contextual role of industry IT usage during the 1998–2009 lost decade (wherein the steepest falls in manufacturing jobs happened in the USA).

The results highlight the significant contextual role of industry IT usage. In manufacturing industry sectors with high IT usage, (1) inventory levels of firms are more responsive to information inputs and (2) stock market investors have greater appreciation for inventory leanness.

The lost decade, 1998–2009, was a difficult period for the manufacturing industry. Nonetheless, there was variation in stock market valuations of manufacturing firms, with many firms outperforming others. Stock market investors were sensitive to inventory leanness. Firms that positively impressed stock market investors were strategically positioned in high IT usage industry sectors and prioritized inventory leanness. Further, their inventories were sensitive to information inputs – their inventories were leaner in response to improved sales-efficiency and/or shortage in cash.

Artificial biomaterials are implanted to the human body to support the structure depending upon the extent of deformity or damage. This paper aims to formulate an experimental approach to assess the suitability of materials that can be used in the manufacture of human implants.

Five different pin materials such as SS304, Alumina, HDPE, UHMWPE and Brass have been chosen to be suitable for implants. The tribological properties of the aforementioned materials have been tested on a simple pin-on-disc apparatus. EN31 was chosen as the disc material because its hardness value is much higher than that of the pin materials used. The test materials were constructed in the form of spherical end pins to have point contacts and to reduce the depth of wear.

It has been observed that the polymeric (HDPE and UHMWPE) and ceramic materials (Alumina) are much better than the traditional metallic materials. The wear rate is very low for these materials owing to their self-lubricating properties.

The experimental studies will help predict the performance and life of implant materials in the human body.

In most cases, SS316L that possesses nickel compositions is used as the disc material; SS316L is toxic to the human body. In the present study, a high carbon alloy steel with high degrees of hardness EN31 is used as a disc counter-face material.