Papers by Dr. Balaram Bora
International Journal of Research in Finance and Marketing, 2015
Decisions in capital investment will have major impact on the future well-being of the firm. Norm... more Decisions in capital investment will have major impact on the future well-being of the firm. Normally NPV and IRR measurements to evaluate projects often results in the same findings. However, there are a number of projects for which using IRR is not as effective as using NPV to discount cash flows. This study objective is to analyze conflicting areas between NPV and IRR.
The capital budgeting results would be unrealistic if the impact of inflation is not correctly fa... more The capital budgeting results would be unrealistic if the impact of inflation is not correctly factored in the analysis. A double digit rate of inflation is a common feature in developing countries. Because the cash flows of an investment project occur over a long period of time, a firm should usually be concerned about the impact of inflation on the project’s profitability. The cash flow estimates will not reflect real purchasing power. Cash flows would be shown at inflated sums and to that extent cause distortion in capital budgeting decisions. Therefore, cash flows should be adjusted to accommodate the inflation factor so that the capital budgeting decisions reflect the true picture. Keywordsinflation; Consumer price index; wholesale price index; GDP deflator; capital budgeting; nominal v alue; real value.
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Abstract: This study is based on the assumption that" A job is more than just a job”. Work i... more Abstract: This study is based on the assumption that" A job is more than just a job”. Work is an integral part of our everyday life. On an average we spend around one third of our entire life at our workplace & it does influence the overall quality of our life. It should yield job ...
Quality of Work Life became a vital concept in people management front and attracted wide researc... more Quality of Work Life became a vital concept in people management front and attracted wide research attention, which is evidenced by significant volume of research done on this aspect in diverse workplace settings and in different cultures. In spite of availability of sufficient research on Quality of Work life, the research focus is less with regard to academic environment. The present paper aims at reviewing the research contributions made on Quality of Work Life issues with a view to provide a closer look on the concept, its applications and implications in academic environment in specific. For our study purpose, only secondary data is used which is sourced from different journals and books. The paper Quality of Work Life: A Literature Review in the Academic Sector presents a conceptual exposition of Quality of Work Life, review of available literature, various dimensions of Quality of Work Life along with a note on the appropriate typology suitable for research in academic settings. Avenues for further research are discussed.
Organizations & Markets: Policies & Processes eJournal, 2015
In this mechanical life, workmen reach house after completion of their hectic job with highest st... more In this mechanical life, workmen reach house after completion of their hectic job with highest stress. Human being cannot be compared with machines. They have their own impulses, instincts, emotions. Employer should design a job which suits the needs of workmen not the technology. By using Quality of Work Life (QWL) worker’s potential can be used to maximum extent. It ensures greater participation and involvement of workers, makes work easier and improves quality and efficiency. For our study purpose, only secondary data is used which is sourced from different journals and books. In discussing the Literature Review of Quality of Work Life, this paper has been divided into four parts. In the first part introduction of QWL, second part Review of Literature of QWL. In the third part Components of QWL, it summarizes different requisite components for QWL, industries observed and contributions of different researchers. It is observed that Researchers differ in their views on the core con...
Ordinary shares, preference shares and debentures are three important securities used by the firm... more Ordinary shares, preference shares and debentures are three important securities used by the firms to raise funds to finance their activities. This study is an attempt to analyse the issues in the area of Preference Share Capital to find out its contribution in mobilizing share capital in India. In discussing how the Preference Share Capital is used in India, this paper has been divided into six parts. In the first part Introduction, Second part Review of literature, Third part Sources of data, Fourth part theoretical aspects of share capital in accordance with Companies Act, 2013, and in the Fifth part, how the corporate firms are using Preference share capital in India by considering top BSE listed companies and the last part conclusion. It is found that In spite of some changes in companies Act 2013, there is no significant changes in use of preference capital by Indian corporate firms.
Management Today, 2015
Quality of work life Movement initially a loosely organized network of a few dozen academics in t... more Quality of work life Movement initially a loosely organized network of a few dozen academics in the early 1970's, the QWL Movement had grown by the 1980's into an international grouping of trade union officials, personal managers and social scientist generally. QWL will have direct and indirect relationship with the economic and social well-being of large portion of population which lies beyond the domain of Industry. Improved QWL naturally helps to improve the family life of the employees and world also improves the performance of the Industry/ enterprises. This article reviews the meaning of QWL, various definition of QWL and determinant of QWL based on the reviews. Improving the Quality of Work Life, barriers and Issues of QWL described. However, there is positive and significant relationship between QWL and employees' job satisfaction. QWL practice involves acquiring, training developing, motivating and appraising for the best performance of the employees as per Organizational objectives. QWL provides for the balanced relationship among work, non-work and family aspects of life. We therefore, have undertaken this study influence of workers QWL.
Quality of Work Life became a vital concept in people management front and attracted wide researc... more Quality of Work Life became a vital concept in people management front and attracted wide research attention, which is evidenced by significant volume of research done on this aspect in diverse workplace settings and in different cultures. In spite of availability of sufficient research on Quality of Work life, the research focus is less with regard to academic environment. The present paper aims at reviewing the research contributions made on Quality of Work Life issues with a view to provide a closer look on the concept, its applications and implications in academic environment in specific. For our study purpose, only secondary data is used which is sourced from different journals and books. The paper Quality of Work Life: A Literature Review in the Academic Sector presents a conceptual exposition of Quality of Work Life, review of available literature, various dimensions of Quality of Work Life along with a note on the appropriate typology suitable for research in academic settings. Avenues for further research are discussed.
The concept of Quality of Work Life (QWL) has emerged as an important determinant of a model empl... more The concept of Quality of Work Life (QWL) has emerged as an important determinant of a model employment. Several researches have been conducted on QWL, but a few studies are in the academic sector. However, considering the contributions of QWL in the recent times, a more comprehensive review is attempted here on academic sector. In this connection , the author has reviewed the literature on QWL components which would help researchers to take a closer look at the application of QWL components.
Appropriate soft skills play an important role in getting employment, to lead a successful career... more Appropriate soft skills play an important role in getting employment, to lead a successful career as well as during social interactions in the society. Soft skills are also called as - Interpersonal skills, Life skills, People skills- are the abilities and skills that help to become a complete professional especially in corporate sectors around the globe. The students aspiring to become Professionals not only need academic and technical skills but also Soft-skills to meet the goals of the organization. The professionals who want to lead successful career are not getting expected jobs or promotions because of soft skills deficit. A considerable number of people are not reaching their destinations because of not having required soft skills in social interaction. Soft skills are required to all human beings to lead the life smoothly. They are required in all professions whether it is business, employment, Politics, Administration or service.
This paper throwslight on the questions how important softskills are and which skills can be learned and acquired in educational institutes and workplaces. This paper also emphasizes the necessity of incorporating soft skills training programs in curriculum, highlighting the objectives of soft skills and various teaching methods to be applied. This paper is divided into seven parts. First part is introduction, Second part is meaning and definition, third one Review of Literature, Fourth one objectives of soft skills training program, fifth one Most important Soft skills, Sixth one personality development and soft skills and the last one is conclusion.
The capital budgeting results would be unrealistic if
the impact of inflation is not correctly fa... more The capital budgeting results would be unrealistic if
the impact of inflation is not correctly factored in the analysis1
. A
double digit rate of inflation is a common feature in developing
countries. Because the cash flows of an investment project occur
over a long period of time, a firm should usually be concerned
about the impact of inflation on the project’s profitability2
. The
cash flow estimates will not reflect real purchasing power. Cash
flows would be shown at inflated sums and to that extent cause
distortion in capital budgeting decisions. Therefore, cash flows
should be adjusted to accommodate the inflation factor so that
the capital budgeting decisions reflect the true picture.
In Capital Structure Debt and equity is the two important source of finance for the firms. Basica... more In Capital Structure Debt and equity is the two important source of finance for the firms. Basically
capital structure of the firm revolves around the judicious mix of the debt and equity. Upon Debt and equity
mix much research has been done and many have designed the capital structure in a very different manner.
The main objective of this paper is to analyse the capital structure practices in India, particularly concerning
the problem of Debt-Equity ratio analysis of public limited companies. In capital structure Debt-Equity ratio
plays an important role to take decision towards wealth maximization of a particular company. It will reveal
that how debt-equity ratio is changing from industry to industry and also company to company. However,
standard debt-equity ratio is 2:1 but is all the companies are following the standard D/E ratio or not? Is a big
question. So this study will focus on Debt -Equity ratio practices of Indian firms. In analyzing Capital
structure practices of public limited companies in India; this paper has been divided into five parts. In the
first part Introduction, Second part theoretical background, third part review of literature; fourth part
Capital structure policies in practice and in the last part conclusion. The source of data is secondary. The
conclusion is except a few industries, remaining industries are not at all using cheap source of debt capital.
In the past, Indian companies were maximum based on debt , but now the debt usage is declined because of
the availability of financial resources or improved financial climate in India. The capital structure is different
from industry to industry and within industry different structures used by companies.
Decisions in capital investment will have major impact on the future well-being of the firm. Norm... more Decisions in capital investment will have major impact on the future well-being of the firm. Normally NPV and IRR measurements to evaluate projects often results in the same findings. However, there are a number of projects for which using IRR is not as effective as using NPV to discount cash flows. This study objective is to analyze conflicting areas between NPV and IRR. In analyzing conflicting areas between NPV and IRR, this paper has been divided into seven parts. In the first part Introduction, Second part objectives, Third part Review of literature, Fourth part theoretical aspects of NPV and IRR, Fifth part types of investment decisions, in the sixth part Comparison between NPV and IRR and in the last part conclusion. The conclusion is both NPV and IRR methods are equivalent as regards the acceptance or rejection of independent conventional investments. Investment projects in the case of lending , Higher rate earned project is preferable, Whereas in the case of borrowing Lower rate paid project is preferred. The IRR rule may also lead multiple rates of return for non-conventional project and fails to work under varying cost of capital conditions. Under a number of situations (at timing of
cash flows, scale of investment, or project life span), the IRR rule can give a misleading signal for mutually exclusive projects. Since the IRR violates the value additively principle; since it may
fail to maximise wealth under certain conditions; and since it is cumbersome, the use of the NPV rule is recommended. In case of mutually exclusive projects having unequal lives, project can be selected on the basis of Annualized NPV and the project which is having higher Annualized NPV( based on Cash Inflows) or lower Annualized NPV(based on Cash Outflows) should be
selected. Even though All do not accept , Advocates of reinvestment assumption calculates terminal values of the project to prove their point through Modified Internal Rate of Return. There is no problem in using the NPV method when the opportunity cost of capital varies over time. Cash flows should be adjusted to accommodate the inflation factor so that the capital budgeting decisions reflect the true picture.
Excellence in service is rare, mediocrity is common. What
characterizes excellence from mediocri... more Excellence in service is rare, mediocrity is common. What
characterizes excellence from mediocrity is its closeness to the
customer, productivity through people. The customer is reign supreme
since the present need in corporate sector is to receive outstanding
quality of service. The hallmark of excellence is customer service
culture. Excellence in service is marketing-oriented, operates with a
target set of customers in mind and co-ordinates its efforts to satisfy
their demands from the long term belief. Service institutions like banks
seek to enhance their image by providing continuous, and signal
quality to customers often by using intangibles. Most institution has
realized now that a combination of tangible and intangible dimensions
could only constitute the service quality strategy for any firm. There
are wide disparities in likes, dislikes, lifestyle, and profile of the bank
customers, more so, in a large and diverse country like India. One way
to make the task less daunting and more manageable could be to divide
the bank customers into groups on the basis of similarity in their
banking related behaviour and expectations. Managing customer
relationships has thus become the new mantra for businesses,
especially in the so-called new economy. The present study comprised
a sample of 305 customers of the leading nationalized banks in the
region, i.e. the State Bank of India above all the Nationalized Banks.
The complete survey of customers was carried out in Berhampur,
Odisha. As such, the investigator first attempted to study the service
quality that a customer expects from an “Excellent” bank. Next, the
investigator emphasized on the responses of customer with regards to
his/her perception about the quality of service actually experienced in
the bank. The data have presented by descriptive statistics i.e. in the
tables and the results interpreted though correlation analysis.
In this mechanical life, workmen reach house after completion of their hectic job with highest st... more In this mechanical life, workmen reach house after completion of their hectic job with highest stress. Human being cannot be compared with machines. They have their own impulses, instincts, emotions. Employer should design a job which suits the needs of workmen not the technology. By using Quality of Work Life (QWL) worker’s potential can be used to maximum extent. It ensures greater participation and involvement of workers, makes work easier and improves quality and
efficiency. For our study purpose, only secondary data is used which is sourced from different journals and books. In discussing the Literature Review of Quality of Work Life, this paper has been divided into four parts. In the first part introduction of QWL, second part Review of Literature of QWL. In the third part Components of QWL, it summarizes different requisite components for QWL, industries observed and contributions of different researchers. It is observed that Researchers differ in their views on the core constituents of Quality of Working Life.
Work is a part of our daily life. We work on an average eight hours daily in business or career o... more Work is a part of our daily life. We work on an average eight hours daily in business or career or livelihood. That means one third of our life is spending with work. It affects the quality of our life. A satisfied employee can put his best efforts towards achievement of organisational goals. The employer needs to provide a conducive environment in the organisation, to reach the goals. The term quality of work life (QWL) refers to the likeliness or unlikeliness of a job environment for people. A willing worker put his best efforts to achieve organisational goals. Retention of worker is a difficult task in complex environment where more stress is there in one side and opportunities are there on the other side. Satisfaction with pay and relationships with work colleagues, but also factors that broadly focuses on life satisfaction and general feelings of well-being. To retain a good talent in the organisation it is important for the organisation that he should have low stress level and quality of work life. This article focuses on detailed analysis of Quality of work life and its uses to employers and organisations.
Ordinary shares, preference shares and debentures
are three important securities used by the firm... more Ordinary shares, preference shares and debentures
are three important securities used by the firms to raise funds to
finance their activities. This study is an attempt to analyse the
issues in the area of Preference Share Capital to find out its
contribution in mobilising share capital in India. In discussing
how the Preference Share Capital is used in India, this paper has
been divided into six parts. In the first part Introduction, Second
part Review of literature, Third part Sources of data, Fourth
part theoretical aspects of share capital in accordance with
Companies Act, 2013, and in the Fifth part, how the corporate
firms are using Preference share capital in India by considering
top BSE listed companies and the last part conclusion. It is found
that In spite of some changes in companies Act 2013, there
is no significant changes in use of preference capital by
Indian corporate firms.
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Papers by Dr. Balaram Bora
This paper throwslight on the questions how important softskills are and which skills can be learned and acquired in educational institutes and workplaces. This paper also emphasizes the necessity of incorporating soft skills training programs in curriculum, highlighting the objectives of soft skills and various teaching methods to be applied. This paper is divided into seven parts. First part is introduction, Second part is meaning and definition, third one Review of Literature, Fourth one objectives of soft skills training program, fifth one Most important Soft skills, Sixth one personality development and soft skills and the last one is conclusion.
the impact of inflation is not correctly factored in the analysis1
. A
double digit rate of inflation is a common feature in developing
countries. Because the cash flows of an investment project occur
over a long period of time, a firm should usually be concerned
about the impact of inflation on the project’s profitability2
. The
cash flow estimates will not reflect real purchasing power. Cash
flows would be shown at inflated sums and to that extent cause
distortion in capital budgeting decisions. Therefore, cash flows
should be adjusted to accommodate the inflation factor so that
the capital budgeting decisions reflect the true picture.
capital structure of the firm revolves around the judicious mix of the debt and equity. Upon Debt and equity
mix much research has been done and many have designed the capital structure in a very different manner.
The main objective of this paper is to analyse the capital structure practices in India, particularly concerning
the problem of Debt-Equity ratio analysis of public limited companies. In capital structure Debt-Equity ratio
plays an important role to take decision towards wealth maximization of a particular company. It will reveal
that how debt-equity ratio is changing from industry to industry and also company to company. However,
standard debt-equity ratio is 2:1 but is all the companies are following the standard D/E ratio or not? Is a big
question. So this study will focus on Debt -Equity ratio practices of Indian firms. In analyzing Capital
structure practices of public limited companies in India; this paper has been divided into five parts. In the
first part Introduction, Second part theoretical background, third part review of literature; fourth part
Capital structure policies in practice and in the last part conclusion. The source of data is secondary. The
conclusion is except a few industries, remaining industries are not at all using cheap source of debt capital.
In the past, Indian companies were maximum based on debt , but now the debt usage is declined because of
the availability of financial resources or improved financial climate in India. The capital structure is different
from industry to industry and within industry different structures used by companies.
cash flows, scale of investment, or project life span), the IRR rule can give a misleading signal for mutually exclusive projects. Since the IRR violates the value additively principle; since it may
fail to maximise wealth under certain conditions; and since it is cumbersome, the use of the NPV rule is recommended. In case of mutually exclusive projects having unequal lives, project can be selected on the basis of Annualized NPV and the project which is having higher Annualized NPV( based on Cash Inflows) or lower Annualized NPV(based on Cash Outflows) should be
selected. Even though All do not accept , Advocates of reinvestment assumption calculates terminal values of the project to prove their point through Modified Internal Rate of Return. There is no problem in using the NPV method when the opportunity cost of capital varies over time. Cash flows should be adjusted to accommodate the inflation factor so that the capital budgeting decisions reflect the true picture.
characterizes excellence from mediocrity is its closeness to the
customer, productivity through people. The customer is reign supreme
since the present need in corporate sector is to receive outstanding
quality of service. The hallmark of excellence is customer service
culture. Excellence in service is marketing-oriented, operates with a
target set of customers in mind and co-ordinates its efforts to satisfy
their demands from the long term belief. Service institutions like banks
seek to enhance their image by providing continuous, and signal
quality to customers often by using intangibles. Most institution has
realized now that a combination of tangible and intangible dimensions
could only constitute the service quality strategy for any firm. There
are wide disparities in likes, dislikes, lifestyle, and profile of the bank
customers, more so, in a large and diverse country like India. One way
to make the task less daunting and more manageable could be to divide
the bank customers into groups on the basis of similarity in their
banking related behaviour and expectations. Managing customer
relationships has thus become the new mantra for businesses,
especially in the so-called new economy. The present study comprised
a sample of 305 customers of the leading nationalized banks in the
region, i.e. the State Bank of India above all the Nationalized Banks.
The complete survey of customers was carried out in Berhampur,
Odisha. As such, the investigator first attempted to study the service
quality that a customer expects from an “Excellent” bank. Next, the
investigator emphasized on the responses of customer with regards to
his/her perception about the quality of service actually experienced in
the bank. The data have presented by descriptive statistics i.e. in the
tables and the results interpreted though correlation analysis.
efficiency. For our study purpose, only secondary data is used which is sourced from different journals and books. In discussing the Literature Review of Quality of Work Life, this paper has been divided into four parts. In the first part introduction of QWL, second part Review of Literature of QWL. In the third part Components of QWL, it summarizes different requisite components for QWL, industries observed and contributions of different researchers. It is observed that Researchers differ in their views on the core constituents of Quality of Working Life.
are three important securities used by the firms to raise funds to
finance their activities. This study is an attempt to analyse the
issues in the area of Preference Share Capital to find out its
contribution in mobilising share capital in India. In discussing
how the Preference Share Capital is used in India, this paper has
been divided into six parts. In the first part Introduction, Second
part Review of literature, Third part Sources of data, Fourth
part theoretical aspects of share capital in accordance with
Companies Act, 2013, and in the Fifth part, how the corporate
firms are using Preference share capital in India by considering
top BSE listed companies and the last part conclusion. It is found
that In spite of some changes in companies Act 2013, there
is no significant changes in use of preference capital by
Indian corporate firms.
This paper throwslight on the questions how important softskills are and which skills can be learned and acquired in educational institutes and workplaces. This paper also emphasizes the necessity of incorporating soft skills training programs in curriculum, highlighting the objectives of soft skills and various teaching methods to be applied. This paper is divided into seven parts. First part is introduction, Second part is meaning and definition, third one Review of Literature, Fourth one objectives of soft skills training program, fifth one Most important Soft skills, Sixth one personality development and soft skills and the last one is conclusion.
the impact of inflation is not correctly factored in the analysis1
. A
double digit rate of inflation is a common feature in developing
countries. Because the cash flows of an investment project occur
over a long period of time, a firm should usually be concerned
about the impact of inflation on the project’s profitability2
. The
cash flow estimates will not reflect real purchasing power. Cash
flows would be shown at inflated sums and to that extent cause
distortion in capital budgeting decisions. Therefore, cash flows
should be adjusted to accommodate the inflation factor so that
the capital budgeting decisions reflect the true picture.
capital structure of the firm revolves around the judicious mix of the debt and equity. Upon Debt and equity
mix much research has been done and many have designed the capital structure in a very different manner.
The main objective of this paper is to analyse the capital structure practices in India, particularly concerning
the problem of Debt-Equity ratio analysis of public limited companies. In capital structure Debt-Equity ratio
plays an important role to take decision towards wealth maximization of a particular company. It will reveal
that how debt-equity ratio is changing from industry to industry and also company to company. However,
standard debt-equity ratio is 2:1 but is all the companies are following the standard D/E ratio or not? Is a big
question. So this study will focus on Debt -Equity ratio practices of Indian firms. In analyzing Capital
structure practices of public limited companies in India; this paper has been divided into five parts. In the
first part Introduction, Second part theoretical background, third part review of literature; fourth part
Capital structure policies in practice and in the last part conclusion. The source of data is secondary. The
conclusion is except a few industries, remaining industries are not at all using cheap source of debt capital.
In the past, Indian companies were maximum based on debt , but now the debt usage is declined because of
the availability of financial resources or improved financial climate in India. The capital structure is different
from industry to industry and within industry different structures used by companies.
cash flows, scale of investment, or project life span), the IRR rule can give a misleading signal for mutually exclusive projects. Since the IRR violates the value additively principle; since it may
fail to maximise wealth under certain conditions; and since it is cumbersome, the use of the NPV rule is recommended. In case of mutually exclusive projects having unequal lives, project can be selected on the basis of Annualized NPV and the project which is having higher Annualized NPV( based on Cash Inflows) or lower Annualized NPV(based on Cash Outflows) should be
selected. Even though All do not accept , Advocates of reinvestment assumption calculates terminal values of the project to prove their point through Modified Internal Rate of Return. There is no problem in using the NPV method when the opportunity cost of capital varies over time. Cash flows should be adjusted to accommodate the inflation factor so that the capital budgeting decisions reflect the true picture.
characterizes excellence from mediocrity is its closeness to the
customer, productivity through people. The customer is reign supreme
since the present need in corporate sector is to receive outstanding
quality of service. The hallmark of excellence is customer service
culture. Excellence in service is marketing-oriented, operates with a
target set of customers in mind and co-ordinates its efforts to satisfy
their demands from the long term belief. Service institutions like banks
seek to enhance their image by providing continuous, and signal
quality to customers often by using intangibles. Most institution has
realized now that a combination of tangible and intangible dimensions
could only constitute the service quality strategy for any firm. There
are wide disparities in likes, dislikes, lifestyle, and profile of the bank
customers, more so, in a large and diverse country like India. One way
to make the task less daunting and more manageable could be to divide
the bank customers into groups on the basis of similarity in their
banking related behaviour and expectations. Managing customer
relationships has thus become the new mantra for businesses,
especially in the so-called new economy. The present study comprised
a sample of 305 customers of the leading nationalized banks in the
region, i.e. the State Bank of India above all the Nationalized Banks.
The complete survey of customers was carried out in Berhampur,
Odisha. As such, the investigator first attempted to study the service
quality that a customer expects from an “Excellent” bank. Next, the
investigator emphasized on the responses of customer with regards to
his/her perception about the quality of service actually experienced in
the bank. The data have presented by descriptive statistics i.e. in the
tables and the results interpreted though correlation analysis.
efficiency. For our study purpose, only secondary data is used which is sourced from different journals and books. In discussing the Literature Review of Quality of Work Life, this paper has been divided into four parts. In the first part introduction of QWL, second part Review of Literature of QWL. In the third part Components of QWL, it summarizes different requisite components for QWL, industries observed and contributions of different researchers. It is observed that Researchers differ in their views on the core constituents of Quality of Working Life.
are three important securities used by the firms to raise funds to
finance their activities. This study is an attempt to analyse the
issues in the area of Preference Share Capital to find out its
contribution in mobilising share capital in India. In discussing
how the Preference Share Capital is used in India, this paper has
been divided into six parts. In the first part Introduction, Second
part Review of literature, Third part Sources of data, Fourth
part theoretical aspects of share capital in accordance with
Companies Act, 2013, and in the Fifth part, how the corporate
firms are using Preference share capital in India by considering
top BSE listed companies and the last part conclusion. It is found
that In spite of some changes in companies Act 2013, there
is no significant changes in use of preference capital by
Indian corporate firms.