Historically, cash dividends are the most important form of payout policy; however, they have been losing popularity relative to share repurchases. This paper examines the signaling effect of the payout decisions namely, cash dividends and share repurchases by BSE 500 index companies. It attempts to uncover the underlying forces behind the firm’s choices of payout policy in the Indian context. Using the standard ‘Event Standard Methodology’, a strong case of positive signaling is reported in case of repurchase announcements vis-a-vis cash dividend announcements. It is observed that cash dividends are not perceived by investors as positive signals as they prefer their earnings to be retained by the companies for growth prospects. In case of share repurchases, the existence of undervaluation, signaling and wealth transfer hypotheses is reported, consistent with the fact the share repurchases are welcomed by the Indian companies. The results would provide insights into the economics of the choice between cash dividends versus share repurchases as payout mechanism adopted by the sample companies. The findings would also be useful to the academia as well as industry in understanding the payout practice and the extent to which the Indian managers use the assumptions, models and decision rules regarding payout.

Historically, cash dividends are the most important form of payout policy; however, they have been losing popularity relative to share repurchases. This paper examines the signaling effect of the payout decisions namely, cash dividends and share repurchases by BSE 500 index companies. It attempts to uncover the underlying forces behind the firm’s choices of payout policy in the Indian context. Using the standard ‘Event Standard Methodology’, a strong case of positive signaling is reported in case of repurchase announcements vis-a-vis cash dividend announcements. It is observed that cash dividends are not perceived by investors as positive signals as they prefer their earnings to be retained by the companies for growth prospects. In case of share repurchases, the existence of undervaluation, signaling and wealth transfer hypotheses is reported, consistent with the fact the share repurchases are welcomed by the Indian companies. The results would provide insights into the economics of the choice between cash dividends versus share repurchases as payout mechanism adopted by the sample companies. The findings would also be useful to the academia as well as industry in understanding the payout practice and the extent to which the Indian managers use the assumptions, models and decision rules regarding payout.

This study investigates the quantitative relationship between knowledge based view (i.e. empowering employees, promoting confidence, coding rules) and sustainability competitive advantage (i.e. market, customer, financial) within the banking industry of Iran. A valid research instrument was utilized to conduct a survey of 150 top- and middle-level managers from Mellat bank of Iran. With a response rate of 81.3 percent, 122 questionnaires are returned; the number of valid and usable questionnaires was 101. In order to determine validity of questionnaire, the content validity was used and Cronbach's alpha was used to determine the reliability of the questionnaire (KBV questionnaire 0.886, SCA questionnaire 0.843). Utilizing the structural equation modeling, and after a series of exploratory and confirmatory factor analyses, it was found that KBV had the greatest effect on the market centered SCA, while it had the least influence on the customer centered.

Nowadays, customer is believed to be the most precious asset for any organization and building a long term relationship between firms and customers plays essential role for the success of organizations. This paper presents an empirical investigation to study the relationship between after-sales service quality and customer satisfaction in a firm named Setareh Nik Aria Yadak whose primary responsibility is to provide after-sales services for public transportation. The study selects a sample of 252 out of 730 customers in 2015 who received their services from this firm. The survey designs a questionnaire in Likert scale, which consists of four items of quality, responsiveness, speed and cost of services. Cronbach alpha is calculated as 0.79, which validates the quality of the survey. Using Spearman correlation test, the study has detected a positive and meaningful relationships between four components of after-sales services and customer satisfaction.

During the past few years, many people have used point of sales for purchasing goods and services. Point of sales tends to provide a reliable method for making purchases in stores. Implementation of point of sales may reduce depreciation cost of automated telling machines and helps banks increase their productivities. Therefore, for bank managers, it is important to provide high quality services. This paper presents an empirical investigation to measure quality service using SERVQUAL scale. The study first extracts six factors including Trust, Responsiveness, Reliability, Empathy, Tangibles and getting insight for future development through the implementation of structural equation modeling. Next, it has implemented structural equation modeling and realizes that all components had positive impacts on customer satisfaction.

During the past few years, many people have been interested in purchasing goods and services via point of sales (POS). They have also wished to pay their bills, withdraw cash or transfer funds using automated telling machines (ATMs). These two facilities help banks’ customers carry less amount of cash and do their daily banking activities any time even when the banks are closed. This paper presents an empirical investigation to measure the relative efficiency of nearly 600 POS and ATM units associated with Bank Melli Iran located in city of Tehran, Iran. Using data envelopment analysis, the study has disclosed that only small portions of POS and ATM are working efficiently.