Department of Management Studies

IIT Madras is a public technical and research university located in Chennai, Tamil Nadu. Founded in 1959, it is recognised as an Institute of National Importance.

IIT Madras has been ranked as the top engineering institute in India for four years in a row by the National Institutional Ranking Framework of the MHRD

It currently offers undergraduate, postgraduate and research degrees across 16 disciplines in Engineering, Sciences, Humanities and Management. About 596 faculty belonging to science and engineering departments and centres of the Institute are engaged in teaching, research and industrial consultancy.

IIT Madras

We examine the impact of increasing levels of concentrated founder ownership on board independence and extend the knowledge by exploring whether the impact of concentrated founder ownership on board independence varies with firm's life cycle stages, ownership identity, level of external monitoring and type of firms. Using the Indian sample of 13,636 firm-year observations for the period 2001–2015, we find that controlling shareholders influence the board structure and exhibit a non-monotonic relationship. The relationship moves from entrenchment to alignment and again to entrenchment as their shareholding increases. We find that Indian controlling shareholders influence board independence more than their foreign counterparts. We show that business group firms are associated with greater board independence than standalone firms. We also show that controlling shareholders influence board independence of the firm in the growth stage. Our findings support the notion that the effect of concentrated ownership changes with its level of ownership, identity, firm life cycle stages, level of external monitoring and type of firms.

World University root node

Pacific Basin Finance Journal

Does concentrated founder ownership affect board independence? Role of corporate life cycle and ownership identity

This paper aims to demystify the possibility of using Hamann, Yule (value ranges from -1 to +1) and Jaccard (value ranges from 0 to +1) similarity measures for the machine-part cell formation (MPCF) using the CARI heuristic<a href="https://www.sciencedirect.com/science/article/pii/S2214785320320745?via%3Dihub#b0085">[17]</a> that uses correlation coefficient (value ranges from -1 to +1) as the similarity measure. It has been found that grouping efficacy (GE) achieved by CARI heuristic while using Hamann and Yule as similarity measure is less for 71.42% and 51% of the dataset respectively compared to the GE achieved while using correlation coefficient as similarity measure. Jaccard similarity measure has been found unsuitable for MPCF using CARI heuristic due to the formation of single large cluster for all the benchmark dataset. CARI heuristic in its current version produces machine-part cells with high GE, only while using correlation coefficient as similarity measure whereas while using the other similarity measures, it produces machine-part cells with low GE or single large cluster is created. To overcome this issue, a normalizing procedure is appended to the current version of CARI heuristic, thus making it capable of producing machine-part cells with any of the similarity measures. Computational performance of the proposed version of CARI heuristic was tested using 35 dataset. The proposed method resulted in increasing GE for 42.84% and 74.27% of the dataset for Hamann and Jaccard similarity measures respectively

Materials Today: Proceedings

Investigations on the input processing schema for the machine-part cell formation using CARI Heuristic

Every day in some corner of this world displacements are happening due to adverse impact of climate change or natural disasters or riots or epidemics and global pandemics. Such displacements could be either internal displacement or cross border displacement. In just last year (2019), nearly 24.9 million people have been displaced due to the above cited reasons as per the report of United Nations Refugee Agency. Warsaw International Mechanism has put forth its effort to address the concern of displacements and support humanity along with United Nations, States, few ad-hoc working groups, civil societies and few supporting countries way back in 2016. On one side while the combined and sincere efforts are being made, on the other side the threats in terms of violence, riots, natural disasters, pandemics keep increasing at an alarming rate. Recent Covid-19 is a classic example which are likely to trigger more displacements to be continued in 2020. This has a spillover effect on demand and supply chain of health care services to the impacted as well as the citizens or locals in a particular region. Our paper aims to bring the combined efficiencies of emerging digital technologies and available data in order to gain insights and use them efficiently at the time of global crisis without causing interruption to health care and humanitarian services to all needy people. © 2020, IFIP International Federation for Information Processing.

IFIP Advances in Information and Communication Technology

Information Diffusion for Real Time Resource Planning During Crisis Leveraging Emerging Digital Technologies

The Government of India has implemented Solar PV based microgrid Decentralized Distributed Generation (DDG) projects in different parts of the country. The monitoring of the performance of DDG projects is a manual process with reliance on the data provided by the system integrators who oversee the DDG projects. With the advent of the Internet of Things (IOT), the monitoring evaluation can be improved dramatically by making it objective, and also to monitor the performance of the policy progress on a near real-time basis. The characteristics of an LPWAN technology viz., LoRa that makes it an appropriate communication technology for remote monitoring of DDG projects are: Long-range, Low power, Small data requirements, and flexibility to operate in unlicensed spectrum. An open-source Internet of Things (IOT) solution is proposed here to monitor and evaluate the rural electrification projects. The methodology involves the development of a low-cost prototype and an open-source based solution to monitor the performance of a DC-based stand-alone solar photovoltaic system, which was set up in the IIT Madras campus. The integration across the LoRaWAn architecture was demonstrated, and a visualization dashboard was created in the Ubidots IOT platform to monitor basic parameters such as voltage and current. The goal is to monitor the solar DC system in terms of the objectives set in DDG policy. © 2020 IEEE.

Department Of Chemical Engineering

2020 International Conference on COMmunication Systems and NETworkS, COMSNETS 2020

A LoRaWAN based Open Source IOT Solution for Monitoring Rural Electrification Policy

Fatigue has been one of the most researched subjects as most of the critical component failures are traced to fatigue. While fatigue data generation for design purposes is carried out using ASTM or equivalent standard specimens, the use of miniature or small specimens to estimate the fatigue properties is considered as a tool for extending the remaining life of in-service components. Cyclic automated ball indentation (Cyclic ABI) is one of the non-conventional test techniques used for fatigue performance assessment of pristine and in-service damaged materials. This method uses compression-compression cyclic loading of a flat specimen using a tungsten carbide spherical indenter; continuous monitoring of load-displacement (measured close to the indentation location) data provides an idea about the fatigue life of the material. Apart from this, hysteresis in load-displacement is used as an indicative energy parameter to detect fatigue failure in an Inconel 617 alloy using an off-line data analysis. To ensure on-line tracking of failure events, a specially tuned, miniature acoustic emission (AE) sensor was used during cyclic indentation testing. The AE parameters were extracted in the format of counts, absolute energy; the result processed in terms of cumulative counts, cumulative energy as well as first derivative of acoustic emission counts vs. fatigue cycles was used to cross-correlate failure events with other sensor responses. The failure cycles identified from AE were found to be in good agreement with the hysteresis area under the load-displacement curves, as well as extensometer displacement during cyclic loading. © 2020 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0)

Department of Mechanical Engineering

Department Of Physics

Fulltext

Procedia Structural Integrity

Online acoustic emission monitoring of cyclic ball indentation testing - Correlation with hysteresis area response

Coopetition is defined as the existence of simultaneous competition and cooperation between the same set of players, leading to entanglement of payoffs and actions of the players. This paper provides insights into the game theoretical application of quantum games to model simultaneity and entanglement that occur in coopetition. Modeling as a quantum game also allows for a larger action space and hence new equilibrium that may not have existed earlier. The impact of the level of entanglement on the equilibrium of the game can also be studied. We demonstrate the same through an example of two players who currently compete in the domestic market and are considering cooperating simultaneously in the international market. They need to determine the equilibrium strategy to adopt under coopetition that maximizes their payoffs. We also arrive at how to ensure that the quantum strategy is the equilibrium strategy for both players, namely, how to design the quantum strategy and how to define the unitary operator. © 2020 World Scientific Publishing Company.

International Game Theory Review

Modeling Coopetition as a Quantum Game

This study examines the time-varying price risk transmission in the nexus between crude oil and agricultural commodity prices in the context of non-grain-based biofuel producing country. Analysis of the short- and long-run dynamics of volatility in both spot and futures markets of maize, soybean and wheat and crude oil prices using the multivariate BEKK-GARCH model, indicate volatility spillover from wheat futures to crude oil futures in the short run and from crude oil futures to futures markets of maize, soybean and wheat in the long run. The spot market linkage of selected commodities is weaker compared to futures market, wherein maize spot volatility transmits to crude oil spot market in the longer period and no spillover between crude oil-food spot market is observed in the short run. The hedge ratios indicate that a dynamic hedging strategy is crucial for efficient risk management and the portfolio weights in futures market are more than the spot market. The results reveal that cross-market volatility spillover is more evident in the futures market, while own past conditional volatility is more significant in spot price discovery and risk transmission is evident among food commodities futures markets. JEL Codes: G13, G14, Q11, Q18, Q02. © 2020 Institute of Financial Management and Research.

Journal of Emerging Market Finance

Crude Oil Volatility Transmission Across Food Commodity Markets: A Multivariate BEKK-GARCH Approach

The demand of electricity has been reduced significantly due to the recent COVID-19 pandemic. Governments around the world were compelled to reduce the business activity in response to minimize the threat of coronavirus. This on-going situation due to COVID-19 has changed the lifestyle globally as people are mostly staying home and working from home if possible. Hence, there is a significant increase in residential load demand while there is a substantial decrease in commercial and industrial loads. This devastating situation creates new challenges in the technical and financial activities of the power sector and hence most of the utilities around the world initiated a disaster management plan to tackle this ongoing challenges/threats. Therefore, this study aims to investigate the global scenarios of power systems during COVID-19 along with the socio-economic and technical issues faced by the utilities. Then, this study further scrutinized the Indian power system as a case study and explored scenarios, issues and challenges currently being faced to manage the consumer load demand, including the actions taken by the utilities/power sector for the smooth operation of the power system. Finally, a set of recommendations are presented to support the government/policymakers/utilities around the world not only to overcome the current crisis but also to overcome future unforeseeable pandemic alike scenario. © 2020 Elsevier Ltd

Department Of Biotechnology

Applied Energy

COVID-19: Impact analysis and recommendations for power sector operation

Over the past few decades, substantial work has been carried out by researchers in the field of unethical employee behaviour. While self-interest is a more focused area of research, recent studies have investigated pro-organisational unethical behaviour. Furthermore, it is known that unethical behaviour often occurs beyond the realm of conscious awareness. At present, a comprehensive review of unethical employee behaviour that explicates the various types of unethicality is still lacking. In this study, we perform a literature review and integrate the studies under the dimensions of self-interestedness and intentionality. Consequently, four distinct patterns of unethical employee behaviour emerge, which we classify into a typology comprised of four types: (1) unethical pro-self behaviour-explicit, (2) unethical pro-self behaviour-implicit, (3) unethical pro-other behaviour-explicit and (4) unethical pro-other behaviour-implicit. We contend that each of these behaviours consists of different psychological processes, discuss the individual and situational determinants of each typology and tabulate key findings. Overall, we find that the field will significantly benefit from additional impetus being placed on the under-investigated areas of unethical employee behaviours, which, according to our defined typology, includes the implicit and the pro-other types. © 2020 Informa UK Limited, trading as Taylor & Francis Group.

International Journal of Human Resource Management

Unethical employee behaviour: a review and typology

An in-depth look at the extant literature of dynamic capabilities (DCs) shows that the focus has been on the development, justification, and validation of individual DCs through both conceptual and empirical methods. We argue that studying DCs in isolation may not offer a complete practical meaning. Organizations being complex systems, multiple combinations of capabilities and their interrelationships (as a DC system) lead to a sustained competitive advantage, and this effect cannot be attributed to a single DC in isolation. Through this article, we present a system theoretic view of DCs and subsequently propose the concept of a DC ecosystem using a systems thinking perspective. We use the logical reasoning approach of justificationism to present the associated propositions. We conclude with a discussion of managerial implications and suggestions for future research. © The Author(s) 2020.