Does corporate governance affect CEO compensation in Indian manufacturing firms?

This study examines the effects of (a) chief executive officers (CEO) pay dynamics, (b) corporate governance characteristics, and (c) the impact of environmental, social, and governance disclosure practices on CEO compensation. Data of 282 Indian manufacturing firms were collected from Bloomberg database from 2013–14 to 2018–19. This study uses Generalized Method of Moments estimation technique to assess the impact of corporate governance on CEO compensation. The empirical estimates reveal that increase in board size, board independence, women director in board, CEO duality, and institutional holdings reduced CEO compensation. Furthermore, the environmental, social, and governance disclosure confirmed that higher firm disclosures help to streamline CEO compensation. It has also been found that CEOs' current compensation is affected by their previous pay. This study corroborates the objectives of Companies Act 2013 to streamline the governance practices for optimizing CEO compensation.     

Agriculture and rural out-migration in Central Asia, 1960-91

"This article seeks to analyse agrarian structure and policy in the Soviet period and discuss their effect on migration from rural to urban areas. In the case of [Soviet] Central Asia, neither the various steps to bring down labour intensity in the farm sector, nor the falling standard of living in rural areas, could bring about migration from rural to urban areas. This was because in traditional societies economic mechanisms are not effective unless they are complemented by appropriate social and cultural policies. All policies were oriented towards the state's goal of vertical integration of regions with the central economy. In Central Asia in particular this policy resulted in serious distortions in the social and economic spheres."     

Where is India’s growth headed?

Growth in India declined in the post financial crisis years both due to external and domestic factors. While the slowdown appears to be largely cyclical, it is possible that trend growth may also have been affected, especially by negative shocks from the domestic policy environment. In this article, we analyze the sources of output growth in the past three decades and discuss the outlook going forward. We make projections for the growth of factors of production and the growth of trend gross domestic product (GDP) per worker for the period from 2013–2030. In general, the outlook for factors appears strong. As long as policy reforms support the broad environment for investment in infrastructure and education and eliminate frictions hampering the efficient use of labor and capital, all of which can also boost productivity, it does not appear that trend growth is likely to decline in the future.     

Language and the Learning Crisis: Evidence of Transfer Threshold Mechanisms in Multilingual Reading in South India

This paper provides evidence for a non-linear relationship between local language and English reading scores in multilingual South India. The mechanism suggests that being taught English prematurely may lead to struggles in English literacy acquisition; whereas being taught English after achieving a threshold reading level in the local language may lead to success in transitioning to English literacy acquisition. We base our findings on non-parametric and parametric regression analysis of data from assessments that were uniquely designed for South and Southeast Asian languages, and for multilingual children. Our findings help explain the global trend of increased school enrolment, with learning achievements lagging.     

Neo‐populism and Marxism: The Chayanovian view of the agrarian question and its fundamental fallacy

The neo‐populist viewpoint on the agrarian question, developed in Russia from the late 19th century against Marxist theory, enjoys a modified revival in India today. The theoretical core of the neo‐populist framework consists in the idea of an economically undifferentiated, virtually homogeneous peasantry, which shows extreme stability and viability vis a vis the competition of capitalist production; and is of superior efficiency with respect to yield. There is a basic logical fallacy underlying this view, consisting in the positing of identical conditions of production for units with differing objectives of production—’subsistence’ for peasant holdings and ‘profit’ for capitalist holdings—in a situation where they coexist and are linked through markets. In fact capitalist production cannot emerge at all unless it is accompanied by a rise in output and surplus per unit area compared to petty production, which presupposes technical change. The logical necessity of differing conditions of production, implies that all the neo‐populist propositions are invalid.     

Time- and Temperature-Dependent Changes in Cytochrome c Oxidase Activity and Cyanide Concentration in Excised Mice Organs and Mice Cadavers

Postmortem stability of cyanide biomarkers is often disputed. We assessed the time and temperature-dependent changes in cytochrome c oxidase (CCO) activity and cyanide concentration in various organs of mice succumbing to cyanide. Immediately after death, excised mice organs and mice cadavers were stored at room temperature (35°C ± 5°C) or in frozen storage (−20°C ± 2°C). At various times after death, CCO activity and cyanide concentrations were measured in excised mice organs or organs removed from mice cadavers. The study revealed that (i) measuring both the biomarkers in mice cadavers was more reliable compared to excised mice organs, (ii) measuring temporal CCO activity and cyanide concentration in vital organs from mice cadavers (room temperature) was reliable up to 24 h, and (iii) CCO activity in the brain and lungs and cyanide concentration in organs from mice cadavers (frozen) were measurable beyond 21 days. This study will be helpful in postmortem determination of cyanide poisoning.     

Investigations into Enhancing Yersinia pestis Cells Viability following Environmental Sampling for Forensic Analysis

Following an intentional or accidental bio-warfare agent (BWA) release, environmental sample analysis is absolutely critical to determine the extent of contamination. When dealing with nonspore forming BWA (e.g., Yersinia pestis), retention of cell viability is central to such analyses. Even though significant advances have been achieved in DNA sequencing technologies, a positive identification of BWAs in environmental samples must be made through the ability of cells to form colony-forming units upon culturing. Inability to revive the cells between collection and analysis renders such studies inconclusive. Commercial kits designed to preserve the viability of pathogens contained within clinical samples are available, but many of them have not been examined for their ability to preserve samples containing suspected BWAs. The study was initiated to examine the applicability of commercial solutions aiding in retention of Y. pestis viability in samples stored under nonpermissive temperatures, that is, 40 and 37°C. While none of the tested solutions sustained cell viability at 40°C, the results show five out of 17 tested preservatives were capable of supporting viability of Y. pestis at 37°C.