Browsing by Author "Deo, M."

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    Does the Impact of Firm Performance Vary Owing to Changing Compensation Figures: Evidence from India
    (Faculty of Commerce and Management Studies University of Kelaniya, Sri Lanka, 2020) Rath, C.; Deo, M.
    The compensation paid to the top-level executives in the Indian corporate sector has led to a spotlight debate in recent years owing to its visible disparity when compared to the average pay of employees. Meanwhile, the current global scenario demands the firms to address issues related to the environmental, social and governance aspects for the well-being of the community at large. The purpose of this paper is to examine the impact and sensitivity of performance indicators across different compensation levels of large as well as socially responsible companies or ESG firms, post implementation of Companies Act 2013 legislation in India. Taking NSE Nifty 100 ESG Index as the data sample, a panel of 69 firms for the period of 2014-2019 has been analyzed using the conventional panel regression model initially, followed by Two-step System GMM and the QRPD (Quantile Regression for Panel Data) Model after sample splits. Both past pay (lagged compensation) as well as current accounting-based measures of firm performance dominate the market-based measures with respect to it’s impact on remuneration drawn by the executives. To the best of the authors’ knowledge, this empirical paper is first in India to shed light on the impact of firm performance on remuneration paid with respect to ESG firms.
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    Financial Performance of Foreign Direct Invested Pharmaceutical Units in India
    (University of Kelaniya, 2010) Srinivasan, K.; Deo, M.; Srinivasan, P.
    This paper examines the performance of select Foreign Direct Invested (FDI) assisted pharmaceutical units in India for the period from 1st April 1999 to 31st March 2008. The dataset has been retrieved from CMIE Prowess database and Organization of Pharmaceuticals Producers of India (OPPI) for 23 FDI assisted pharmaceutical units and evaluated through the following ratios Capital Structure Ratios, Liquidity Ratios, Profitability Ratios, Du Pont Analysis and Return on Investment. Our findings suggest, that the capital has been efficiently used in gearing profits, but there was a slight decline in return on equity due to over utilization of outsider‟s capital it was the major reason for showing negative effects. But, all the sample units show a galloping trend during the study period. The liquidity position and short-term solvency positions have improved, because of this the sales have increased, the leverage effects was not found favorable for certain units. Finally, our study suggests that the mark of FDI assisted pharmaceutical units for different ratios report a positive direction throughout the study and provoked the strength of Indian economy for the future.