SUBRATA SARKAR - Academia.edu (original) (raw)

Papers by SUBRATA SARKAR

A report prepared under the aegis of NSE Centre for Excellence in Corporate Governance. The view ... more A report prepared under the aegis of NSE Centre for Excellence in Corporate Governance. The view expressed in this report are those of the authors and do not necessarily reflect those of NSE. NSE does not guarantee the accuracy of the data included in this report and accepts no responsibility whatsoever forany consequence of theiruse. Report on

Review of Market Integration, 2015

Drawing on existing theoretical and empirical literature on the rationale behind corporate social... more Drawing on existing theoretical and empirical literature on the rationale behind corporate social responsibility (CSR), this article analyses the potential implications of mandated CSR under the recently enacted Companies Act, 2013 in India on firm incentives, likely responses of corporates that come under the ambit of the law, implications for resource availability and delivery of social goods and the prospects and challenges of implementing mandated CSR. Insights into these issues are drawn by empirically examining the voluntary CSR behaviour of a sample of 500 large companies listed on the Bombay Stock Exchange for the period 2003–2011 that predates the new regulation. The article argues that notwithstanding the potential economic costs that may accompany mandated CSR, the provisions of the new Act are designed thoughtfully to balance the objectives of the corporation and its shareholders, on the one hand, and that of the society and its stakeholders, on the other. However, addre...

SSRN Electronic Journal, 2012

We construct a Corporate Governance Index for 500 large listed Indian firms for the period from 2... more We construct a Corporate Governance Index for 500 large listed Indian firms for the period from 2003 to 2008 in this paper. The index construction uses information on four important corporate governance mechanisms: the board of directors, the ownership structure, the audit committee, and the external auditor. The construction of the index for six years allows an examination of the evolution of corporate governance in India in a period when there have been a large number of corporate governance reforms. The analysis documents a rising trend in the level of the Corporate Governance Index of Indian companies. There is a strong association between the Corporate Governance Index and the market performance of companies, where companies with better corporate governance structures earn substantially higher rates of return in the market. This analysis shows that Indian markets tend to reward companies that carry out governance reforms. It provides an impetus to regulators as well as to push for further reforms.

Economics of Transition, 2008

We analyze the role of debt in corporate governance with respect to a large emerging economy, Ind... more We analyze the role of debt in corporate governance with respect to a large emerging economy, India, where debt has been an important source of external finance. Using cross‐sectional data on listed manufacturing firms we estimate, simultaneously, the relation between Tobin's Q and leverage for three years, 1996, 2000 and 2003. Our analysis indicates that while in the early years of institutional change, debt did not have any disciplinary effect on either standalone or group affiliated firms, the disciplinary effect appeared in the later years as institutions became more market oriented. We also find limited evidence of debt being used as an expropriation mechanism in group firms that are more vulnerable to such expropriation. In general, our results highlight the role of ownership structures and institutions in debt governance.

Journal of Comparative Economics, 1998

Existing empirical evidence on the ownership-performance issue is weighted towards the property r... more Existing empirical evidence on the ownership-performance issue is weighted towards the property rights hypothesis that private enterprises are superior to public enterprises. However, very few studies examine a developing country in which the strong link between the market for corporate control and the efficiency of private enterprises assumed by the property rights hypothesis may not be satisfied. Our study of the Indian banking industry confirms our expectation that, in the absence of wellfunctioning capital markets, there may not be significant differences in the performance of private and public enterprises. Our analysis highlights the importance of creating appropriate institutions prior to pursuing privatization in developing countries.

International Journal of Financial Studies, 2018

We study the effect of board governance in state-owned and private banks by undertaking a study o... more We study the effect of board governance in state-owned and private banks by undertaking a study of commercial banks in India that has both bank groups. Covering a ten-year period from 2003 to 2012 that witnessed a large number of governance reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence exhibiting a significant positive correlation with the performance of private banks and a significant but negative correlation with the performance of state-owned banks. The effect of CEO duality is negative in state-owned banks where incidence of CEO duality is high. We find that a longer CEO tenure has significant positive effects on bank outcomes with these effects strengthening in the later years of CEO tenure. Our results have governance implications for strengthening the composition of board of directors and CEO tenure especially in state-owned banks.

Journal of Accounting, Auditing & Finance, 2008

Using a sample of 500 large companies over a two-year period, we examine the impact of board char... more Using a sample of 500 large companies over a two-year period, we examine the impact of board characteristics on opportunistic earnings management in India, a large emerging economy. In addition to board independence, we analyze how characteristics that proxy for the “quality” of inside and outside directors affect the role of boards in curbing earnings management. Our results indicate that it is not board independence per se, but rather board quality that is important for earnings management. We find that diligent boards are associated with lower earnings management, while boards that have directors with multiple appointments exhibit higher earnings management. With respect to inside directors, our results indicate that chief executive officer (CEO) duality and presence of controlling shareholders on the board increases earnings management. We also find that domestic institutional owners, one of our key control variables, act as a compensating control mechanism to mitigate the detri...

Is to integrate with the liquid trap a jet pump (44, 144) to leak the liquid fuel from the vapor ... more Is to integrate with the liquid trap a jet pump (44, 144) to leak the liquid fuel from the vapor stream, such as a steam venting from the fuel tank 22, an assembly is provided. Assembly 10 includes a housing 12 having a liquid trap (20) configured to trap the liquid accompanying the steam flowing through the housing. Has a jet pump (44, 144) is a venturi nozzle (48, 148), thereby inducing the liquid trap, and optionally the fluid communication so, the venturi outlet of the liquid trap liquid flow through the nozzle.

SRM Journal of Research in Dental Sciences, 2015

Introduction: Traumatic injury and dental caries in developing tooth can cause irreversible damag... more Introduction: Traumatic injury and dental caries in developing tooth can cause irreversible damage to the pulpal tissue, which hinders the normal physiologic root development. Aims and Objectives: The aim was to find out the sealing efficacy of mineral trioxide aggregate (MTA) as an ideal apexification material of a permanent tooth with an open apex by comparative evaluation of grey and white MTA of different thickness and time interval in vitro. Materials and Methods: A total of 144 teeth were randomly distributed into 6 equal test groups containing 24 teeth each and then filled with white and gray MTA to thickness of 1, 2, and 4 mm. Microleakage of these samples was studied by bacterial leakage model at definite intervals (After 24 h,7 th day,15 th day, and 30 th day). Results: After 24 h, for 1 mm thickness, grey MTA showed less leakage than white MTA, but the difference is not statistically significant at 5% level (Z = 0.32, P = 0.75). After 7 days, in 1 and 2 mm thickness, White MTA showed 64.71% and 16.67% leakage, while Grey MTA revealed 50% and 8.33% leakage in the same category. No leakage was found among the samples of 4 mm in both MTA. After 15 days in 1 mm, 100% leakage was recorded in both MTA. In 2 mm, presence of leakage is 15% for White and 13.64% leakage were present in Grey MTA. However, this difference is not significant (Z = 0.126, P = 0.9). In 4 mm MTA, only 1 leakage was found in White and none for Grey. This difference is not significant (Z = 1.02, P = 0.31). After 30 days, in 2 mm, 9% more leakage was observed in White MTA samples (23.53%) than that of Grey MTA (14.29%). In the category of 4 mm, 0.37% more leakage was observed in White MTA samples (8.70%) than that of Grey MTA (8.33%). However, this difference was not statistically significant. Conclusion: The present study showed that apical barrier of 4 mm demonstrated less leakage than 1 and 2 mm barrier in both White and grey MTA after 30 days of study and grey MTA demonstrated significantly less leakage than white MTA.

SAE Technical Paper Series, 2015

International Conference on Fiber Optics and Photonics: Selected Papers from Photonics India '96, 1998

Radially graded - refractive index (GRIN) rod lenses have a number of advantages over conventiona... more Radially graded - refractive index (GRIN) rod lenses have a number of advantages over conventional lenses in manipulating and processing the optical signals in optical fiber communication systems(1). In order to have a device using GRIN rod lenses, design requirements are varied in nature. A system containing one or more than one radial grin lenses or a combination of radial and axial GRIN dements is designed. The next step is to devdop the required GRIN elements with desired material properties. Finally, the system is optimised as a compromise between the ideal and real available GRIN elements. Ion exchange technique is the most widely used method to devdop GRIN profile in glass due to its simple instrumentation and ease of control. We have devdoped a novel method to predict the GRIN profile for a given set of experimental conditions (2). This method helps us in devdoping different types of GRIN profiles in the glass rods with minimum number of experimentation. After the glass rods have gone through the process of ion exchange, refractive index profile are measured in a set - up devdoped by us (3,4). In this paper, we present the development of radial GRIN rod lenses with a diameter of 1 to 2 mm. These GRIN rod lenses can be used for coupling of laser light source to the optical fiber.

American Journal of Perinatology, 2014

Background We hypothesized that maternal intrapartum antibiotic treatment delays the growth of th... more Background We hypothesized that maternal intrapartum antibiotic treatment delays the growth of the organism in the blood culture obtained during the work-up for infants with suspected early-onset sepsis (EOS). Methods Single center, retrospective review of infants with blood culture-proven EOS over 13.5 years period. EOS was defined by isolation of a pathogen from blood culture obtained within 72 hours of birth and antibiotic treatment for ≥ 5 days. Results Among 81 infants with positive blood cultures, 38 were deemed to have EOS and 43 were deemed contaminants. The organisms grown were as follows: Escherichia coli in 17 infants, Group B streptococcus in 10 infants, and others in 11 infants. Overall, 17 infants with EOS did not receive intrapartum antibiotics and had blood cultures drawn for being symptomatic after birth. The other 21 infants who received intrapartum antibiotics had blood culture drawn primarily for maternal chorioamnionitis. The median (interquartile range [IQR]) incubation time to blood culture positivity was not different in infants who received intrapartum antibiotics compared with infants who did not (19.6 hours, IQR 16-28 hours vs. 19.5 hours, IQR 17.2-21.6 hours, p = 0.7489). Conclusion Maternal intrapartum antibiotic treatment did not delay the time to blood culture positivity in infants with EOS.

RSC Adv., 2014

A significant improvement of dielectric properties and toughness with electrical energy density u... more A significant improvement of dielectric properties and toughness with electrical energy density up to 11 J cm−3 is observed in flexible PVDF–BiVO4 nanocomposite film. It underlines to use as flexible high energy density capacitors and piezoelectric based energy harvesters.

Tetrahedron Letters, 1993

CC bond cleavage during reaction of the chloroesters 1 to 2 with Bu 3 SnH is found to be facilita... more CC bond cleavage during reaction of the chloroesters 1 to 2 with Bu 3 SnH is found to be facilitated by the strain arising through non bonded interaction of C 10 -H with those at C 3 , C 4 , C 5 . ... 1. For comprehensive account on radical based transformations See DP Curran. ...

Sensors and Actuators B: Chemical, 2014

The paper is devoted to the application of several simple mathematical methods that can be used f... more The paper is devoted to the application of several simple mathematical methods that can be used for analysis of multisensor system data. RV and modified RV matrix correlation coefficients, Tucker's congruency coefficients and canonical correlation analysis can be effectively employed to reveal the similarity degree shared between two different data sets obtained for the same samples. This approach can be particularly useful when the number of available samples is too small to construct and validate quantitative regression models, but still the researcher is interested in getting some numerical estimate of the data quality to judge on electronic tongue applicability for particular analytical tasks. As a case study for this work we analyzed the data from potentiometric and voltammetric electronic tongues acquired during the analysis of black tea samples. These samples were also assessed with standard physicochemical methods and professional sensory panel. The relationships between these four data sets were studied with various matrix correlation techniques.

Seminars in Fetal and Neonatal Medicine, 2010

Cooling for neonatal hypoxiceischemic encephalopathy is a novel and promising neuroprotective the... more Cooling for neonatal hypoxiceischemic encephalopathy is a novel and promising neuroprotective therapy that requires significant understanding of how cooling affects all organ systems and interventions used to treat systemic complications of cooling in an intensive care setting. As cooling is used more widely and has been newly introduced in neonatal units, continued surveillance of its use in clinical practice is mandatory. Units offering cooling should strongly consider joining a registry (e.g. the Ver-monteOxford Neonatal Encephalopathy Registry in the USA or the TOBY Register in the UK) that facilitates benchmarking of short-term adverse effects and long-term outcomes of cooling and that supports local quality improvement efforts.

Review of Development Economics, 1999

This paper estimates an earnings function for male workers belonging to the Indian corporate sect... more This paper estimates an earnings function for male workers belonging to the Indian corporate sector. The model allows for differential rates of return to schooling and distinguishes tenure from total labor market experience. The rate of return to schooling is found to be low up to the junior level, increases significantly at the secondary and undergraduate levels, but sharply declines at the masters level. Seniority and firm-specific factors are found to be important determinants of earnings. When years of unemployment and informal experience are incorporated, earnings of low-education workers appear to be driven entirely by formal-sector experience.

Physics of Plasmas, 2011

The effects of both adiabatic and nonadiabatic charge variations on small but finite amplitude no... more The effects of both adiabatic and nonadiabatic charge variations on small but finite amplitude nonlinear dust acoustic wave (DAW) have been investigated in an electronegative dusty plasma in presence of a static magnetic field. It is found that in case of adiabatic charge variations, the nonlinear wave is governed by the Zakharov-Kuznetsov (ZK) equation which yields the usual solitary wave solution. On the other hand, in case of nonadiabatic charge variations, the dynamics is governed by the Zakharov-Kuznetsov-Burgers' (ZKB) equation which exhibits shock like structures. The results are discussed in the context of cometary plasma. V

Pediatric Research, 2011

We hypothesize that clinical recovery following cooling predicts brain MRI abnormalities, and tha... more We hypothesize that clinical recovery following cooling predicts brain MRI abnormalities, and that clinical status 1 week after cooling indicates which infants need MRI. Objective: To determine whether clinical evaluation, including oral feeding ability, 1 week after cooling predicts abnormalities on post-cooling brain MRI. Methods: 71 consecutively cooled infants who had brain MRI were reviewed. Oral feeding ability, spontaneous activity, need for mechanical ventilation, and clinical seizure activity were evaluated (as proposed by Nelson and Ellenberg) for assessment of encephalopathy and as neurodevelopment markers. Logistic regression analysis was performed using all 4 co-variates, with an abnormal MRI as the primary outcome. Results: Brain MRI was abnormal in 29 (41%) infants. Forty-two of 71 infants attained full oral feeds by 1 week after cooling and 34 of these had a normal MRI. Univariate analysis identified all criteria as significantly associated with an abnormal MRI. On multivariate analysis, only full oral feedings (p< 0.010, OR 0.1, 95% CI 0.01-0.6) and absence of seizures (p< 0.001, OR 0.05, 95% CI 0.01-0.3) by 1 week after cooling remained significantly associated with reduced risk of adverse outcome. Areas under the ROC curve for feeding difficulties (0.77, 95% CI 0.7-0.9), seizure activity (0.74, 95% CI 0.6-0.9), and both combined (0.9, 95% CI 0.8-1.0) indicated high accuracy to predict the primary outcome. Conclusions: Infants attaining full oral feeds and without seizures by 1 week after cooling are unlikely to have an abnormal brain MRI. This information is useful in prognostication and in deciding which infants need MRI.