Purpose The purpose of this paper is to study the status and trend of intellectual capital disclosures by selected companies in India. Three categories of intellectual capital disclosures across six industry groups were measured. The relation of the three categories of disclosures, i.e. human capital, relational capital and structural capital disclosures with the measures of organisational performance such as sales, R&D, R&D intensity, net profit and export intensity has also been studied. Design/methodology/approach Based on National Industrial Classification 2008, six sectors, namely pharmaceutical, basic metals, industrial manufacturing, energy, financial services and information technology were included in the study and 20 companies were selected from each sector based on the availability of data from 2004-2005 to 2013-2014, thus, making a sample of 1,200 firm-years. For collecting the data, a list of keywords related to various dimensions of intellectual capital was prepared and the count of keywords was searched in the annual reports of the companies. Findings Significant and positive trend coefficients were found in the majority of the sectors. Analysis revealed that trend coefficients differed across various sectors indicating the presence of sector specificity. Results of trend analysis reveal that structural capital-related disclosures have stagnated in case of pharmaceutical sector after hitting the peak. Significant variations were found across sectors in terms of all three types of intellectual capital disclosures. Results of study empirically support the fact that intellectual capital disclosures tend to increase with size of the organisation. Research limitations/implications As data have been collected from annual reports of the companies, the accuracy of the findings is limited to the accuracy of the reported data. Originality/value The study is an original piece of work. This study provides an insight into the disclosure trend of intellectual capital in an emerging economy.

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Herding denotes how individuals act together in a group without any centralized direction. Herding is widely studied as it drives asset prices away from the fundamental value and there are concerns it leads to volatility, destabilizes the market and increases the fragility of the financial market. In this paper, a concise review of the literature of herding is provided. Various types of herding, its significance and occurrences along with the determinants are discussed. Various approaches used for measuring herding have been reviewed. The relationship of herding along with other variables such as market conditions, volatility, and liquidity is reviewed and studied. For the purpose of drafting the review paper, 79 papers for over three decades have been consulted. Further, future research directions are included for the benefit of the academicians, researchers and policymakers.

Background Fecal Microbiota Transplantation (FMT) has been shown to be effective for induction of remission in patients with active ulcerative colitis (UC). At present, clinical factors impacting the response to FMT in UC remain unclear. Methods Patients with active UC treated with multisession FMT via colonoscopy at weeks 0, 2, 6, 10, 14, 18, and 22, were analysed. Response to FMT was defined as achievement of corticosteroid free clinical remission at week 30. Patient and disease characteristics were evaluated to determine the predictors of response to FMT. Results Out of 140 patients with active UC treated with FMT, 93 patients [mean age 34.96±11.27 years, 62.36% males (n=58), mean Mayo clinic score 8.07±2.00] who completed the multi-session FMT protocol were analysed. Fifty-seven (61.29%) patients achieved clinical remission. Younger age (OR for age 0.93, 95% CI 0.89-0.97, p=0.001), moderate (Mayo clinic score 6-9) disease severity (OR 3.01, 95% CI 1.12 to 8.06, p=0.025) and endoscopic Mayo score 2 (OR 5.55, 95% CI 2.18-14.06, p<0.001) were significant predictors of remission on univariate analysis. Younger age, disease extent E2 and endoscopic mayo score 2 (OR 0.925, 95% CI 0.88-0.97, p=0.002; OR 2.89, 95% CI 1.01-8.25, p=0.04 and OR 8.43, 95% CI 2.38-29.84, p=0.001, respectively) were associated with clinical remission on multivariate logistic regression. A mathematical model (nomogram) was developed for estimating the probability of remission with FMT protocol. Conclusion Younger age, disease extent E2, and endoscopic mayo score 2 significantly predict achievement of clinical remission with FMT in active UC. The prediction model can help in selecting individuals for FMT. Validation in larger cohorts is needed.

Purpose An attempt was made to explore the use of nutrition labelling in the Indian context. The purpose of this paper is to study the determinants of healthier food choices, as well as the role of label use in this context. Design/methodology/approach Data were collected from 150 respondents using the survey method and field experiment. The respondents were enquired about various aspects of label use and were asked to make a choice, from two products in three food product categories, on the basis of real information. Multivariate probit models were built for product choice situations. Findings Moderate to low use of nutrition labelling was found. Significant differences in label use were found on the basis of gender (Sugar (p = 0.011), Additives (p = 0.014), Proteins (p = 0.03)) and education (Additives (p = 0.002), Colouring agents (p = 0.003), Transfats (p < 0.001)). Higher label use was leading (p = 0.031) to more likelihood of choosing healthier potato chips. Women reported higher label use (p = 0.004) but were choosing relatively unhealthier health supplement (p = 0.003). Effect of price was not unidirectional in terms of making healthier food choices. It was observed that label use is not solely responsible for aiding the choice of healthier food products. Individual characteristics were playing important role in choice of food products. Practical implications Findings indicate that merely provision of label information is not adequate for the choice of better food options. Provision of labelling information in simple format and equipping the consumers to make effective use of the same carry importance. Originality/value The paper is original and makes an attempt to study the effect of label use, along with the individual characteristics, on healthier food choices. Given the availability of few studies in the domain from the emerging markets, the paper adds to the existing body of knowledge.