It is a matter of great pleasure for me to place before the readers the new issue (Volume 12, Number 1: January-June 2017) of NICE Journal of Business. As in the past, this issue of the journal brings to you the latest and authoritative insights into the dynamic and fascinating world of business. We present to our readers a collection of research papers on topics of current interest in the vibrant field of business.
This issue contains two Perspectives and seven research papers, pertaining to the major areas of business--marketing, services marketing, consumer behaviour, finance, organisation behaviour, human resource management, corporate governance, and business environment.
It is now generally accepted that the government should concentrate on fostering an 'enabling environment' for the growth of corporate and private sector. Prof. Pikay Richardson emphasises that a good corporate governance regime is the key to the integrity of corporations, financial institutions and markets, and is crucial to the health and stability of any country.
Demonetisation of high-value currency in India, in November 2016, created a severe macroeconomic shock in India. Prof. S.K Singh, in his Perspective, cautions the government that the long-run gains of demonetisation depend on the implementations and not merely on intentions and aspirations. The Internet has altogether changed the way people communicate and has facilitated on-line trade and commerce, which has transformed the landscape of the buyer-seller interaction and relationship. Prof. Parimal H. Vyas, Dr. Madhusudan N. Pandya and Mr. Parag Sunil Shukla seek to measure the buyers' perception of on-line shopping in respect of rural and urban buyers. They have arrived at some interesting conclusions.
Dr. Gurjeet Kaur and Ms. Tisha investigate the relationship of employees' emotional intelligence and managers' leadership style (transformational and transactional) in the context of non-profit organisations. Hospitals offers healthcare services which vary in various dimensions of quality. They need to attract and retain their customers by providing better and affordable healthcare services. For that purpose, they need to understand how important service attributes influence their choice. Ms. Jyoti Malik and Prof. V.C. Sharma seek to explore the major determinants of patients' choice of healthcare service- providers in the context of private hospitals in Delhi-NCR.
The fierce competition among the banks in India, resulting from the LPG (liberalisation, privatisation and globalisation), has forced them to adopt different marketing strategies, including the internal market-orientation. Ms. Sarabjeet Kour Sudan and Mr. Sunil Kumar venture to explore the relationship between the strategic marketing practices in order to obtain competitive advantage.
Employee training and development are integral parts of human resource management. Using the OCM and UWES measurement scales, Ms. Manisha Semwal and Prof. Atul Dhyani delve deep into the impact of employee training and career development on their engagement in the context of the IT companies, located in the Dehradun region of northern India. Due to the sheer nature of their business infrastructure, companies incur huge capital expenditure in their projects, which is often irreversible and highly risky. Dr. Bhargava Pandya seeks to assess the impact of capital expenditure on the financial performance of infrastructure companies. Dr. Deepa Sharma and Dr. Roopa Khare provide an exhaustive review of recent studies conducted in a popular area of research, namely, the impact of employees' emotional stability, work passion and recognition on their job commitment. Nearly 100 research studies conducted in India and abroad are included in this mega survey.
The section on book reviews contains four items, written by subject experts in the relevant fields. The books reviewed pertain to important areas of business, namely, behavioural finance, strategic management, brand management and leadership. These text books are published by reputed publishers.
I place on record my deep sense of gratitude to eminent scholars, authors, and expert book-reviewers for their precious contribution to the journal. Several experts have made available their time and expertise for assessing the papers received for publication by making critical comments and suggestions for improving the quality of the papers. They truly deserve my sincere thanks.
Dr. Shobhit Kumar, Chairman, NICE Society, and Kunwar Shekhar Vijendra, Chancellor, Shobhit University, deserve a special mention for their keen interest in this endeavour to promote, preserve and disseminate business research. I express my profound gratitude to the two visionaries.