Apps to be disciplined and stay healthy

On Health and fitness front:

Taking up cycling after almost 16 years was a totally different experience. Back then in 1993 we were restricted to using speedometers installed on our bicycles that tracked the speed and distance to be precise. And most of us never afforded the gadgets. I had not even heard about mobile phones then. Also, in those days rarely anyone would have spent INR 7.5 K to 20 K on a road bike and neither would have they been  available easily.

Today, we are overwhelmed with smart gadgets, most of them free to use, not only keeps one entertained during the workout but also tracks your performance. One of the main advantages, they help you step beyond just fitness, to performance.

Business line carried an article listed out some of these applications titled “Track your walk“. Two additional apps that I would like to suggest here are http://www.sports-tracker.com/ .  This app is a free to use on symbian phones ( I am not aware about other OS). The app allows you to export the workout details in excel format, upload live to the its website and of course on facebooks and orkut. The website http://www.sports-tracker.com shows world map with blinkers of users already registered on site and sharing their workouts in public forum. This is one of the prime attractions to visiting their site.The apps tracks altitude as well and shows the speed and altitude as a graph.

Next, app that is not mentioned in the article is micoach by Addidas. This app is again free to use but allows you to track your heartbeat. ensure to check whether the same is compatible with app else they sell their own set of gadgets to track the same. Please visit http://www.adidas.com/us/micoach/

On Discipline front:

We at office may object to restricting access to Facebook,Linkedin, Orkut and Twitter and may even win the case with management for allowing access to these websites. But the reality is, with advent of these sites which are now accessible on mobile phones as well, lead to increased levels of distraction. Distraction in simplest terms is reduced focus on task at hand. Reduced concentration has its own problems- extra time to complete the task, lack of control, incorrectness in interpretation or calculation of data. All this, further complicates when most of us as professionals tend to carry “status quo” approach to decision-making. All the talk to innovation and efficient management remains in books and talks of consultants. Anyone who succeeds may smartly attribute it to what is said such books and talks. So we may all will agree that we have a problem at hand i.e. Distraction.

I came across some very good apps that control your distraction. Please read about them here Apps for Online workers  .

Strange thoughts! When I was a child

We all, in our childhood had some strange thoughts. Such thoughts are framed in a child from the limited knowledge that the child is exposed or as a result of his/her unique logic to an observed phenomenon. Most of these thoughts are forgotten as we grow. I have tried to recall some thoughts/belief/understanding hen I was a kid. 
1. Men on clouds with buckets full of water
    Observing dense clouds in skies I used to consider it as some kind of a boat sailing in the sky with men on boat who are carrying buckets full of water. 
    a) Where did they get the water from? My Logic: They collected the water from nearby pond. 
    b) But if buckets are being overturned from clouds why does it not rain as water flowing from the tap in the bathroom? My Logic: Distance is too much and        hence water thrown will fall like drops and also they guys on clouds overturned the buckets intermittently so that it felt like it rained and not poured. 
    c) How do the guys on clouds chose where to pour water? My Logic: They are instructed by God to be even-handed and hence pour as they sail over the earth.
I must have been 5-7 years of age and had been educated that clouds get water from water bodies like rivers, ponds, etc. But the phenomenon of evaporation was learnt much later. 
2. Playback singers and musicians hide behind the bushes when the actors are seen singing
    Once while watching Chitrahaar on Doordarshan, I questioned myself- Do actors sing themselves? I was told by my seniors that there are playback singers who do this. They just mimic. 
    a) But why can I  not see them? My Logic: They are hiding behind bushes and camera is trying to avoid them. However, be alert there is possibility that you happen to see them by accident.
    b) Why do they need to around? My Logic: Since recording is on, all things have to be performed simultaneously to capture else no way can we get to hear the songs when actors perform.

3. How do we get pictures on our TV? My Logic: They come is form of gas and become picture when reaching the TV screen. 

4. Hugging by actors and actress
    a) Do they really hug each other? Are they not shy? My Logic: Yes. But I was told that no they are shy and hence only pictures are brought together to show that they are close. 

5. Children are given by Hospitals. 
     a) How do children come in this world? My Logic: Its only doctors who have babies that are gifted to couples visiting them. When I grew up a little I could see ladies with bulged tummies expecting to deliver. 
     b) My next logical question was how are children born? My Logic: Must be from the rear side just like I had seen animals deliver babies. 

Limited role of non-financial stakeholders?

Financial decisions (funding of firm's investments) interact with overall strategy of the firm. The role of stakeholders assumes significance since a firm continuously engages with its customers, suppliers, employees (including prospective ones), lenders and shareholders. Each of them having their own objective for being associated with the firm. 
Customers expect the firm to service its product purchased while employees look at career growth. Vendors look to continue to supply so that they continue to have the firm as its customer while shareholders and lenders desire return on investment. None of the stakeholders would like to engage with a firm that is loss making or is highly leveraged (measured as Debt-equity ratio). This seems quite illogical atleast in case of equity shareholders or lenders who have put their own money into the business. For instance, in case of shareholders such a situation arises only when the cost of liquidation outscores the cost of running the firm. 
Stakeholders can be categorized into two types- Financial and Non-financial. Financial stakeholders have access to financial information using which they take decisions to invest or withdraw from the firm (irrespective of the size of the firm). However, in case non-financial stakeholders access to financial information is limited. This is true, more in case of unlisted firms/SMEs. Hence, it can be reasoned logically that non-financial stakeholders have limited role in shaping the overall strategy of SMEs. In other words, managers of SMEs will be more focused on protecting interests of its financial stakeholders over its non-financials stakeholders. Is this true?
Alternatively, is it that managers of SMEs, unlike managers of large corporations, are far less constrained in their choice of financial decisions? But do they have enough options to chose from?

Motivation for my research topic

I have struggled hard to work on my research topic due to lack of focus, time and motivation. My attempt below is to document the three key motivators to continue to pursue my research topic on capital structure theories:
1. Study of capital structure is a complex due to involvement of multitude of factors that vary within firms over time, across industry and across countries. Majority studies have taken large sample of firms across industries to ascertain the determinants of capital structure and its adjustments. Hence, its imperative small subsets of sample firms are studied to better understand capital structure theories. This is of immense significance in context of Indian firms. 
2. Existing studies convincingly argue that careful measurement of key variables including the dependent variable (debt/equity ratio) is critical. Studies have tried to develop statistical models that attempt to explain the capital structure variation but each is a partial fix and still leaves much of capital structure variation unexplained. (see Graham, John R. and Leary , Mark T., A Review of Empirical Capital Structure Research and Directions for the Future (April 7, 2011). Annual Review of Financial Economics, Vol. 3, 2011.) Hence, using non-parametric methods on primary data (collected through) questionnaire is expected to help identify qualitative factors that influence the choice and variation in capital structures. The proxies for qualitative factors in parametric models may have failed to capture their effects completely.
3. Despite years of research, capital structure remains a “puzzle” (see Myers, Stewart C., Capital Structure Puzzle (July 1984)). NBER Working Paper No. w1393.) Is capital structure of a firm an outcome of its business decisions or is it a determinant of business decisions? We have trade-off and pecking order theories  and several decades of empirical research attempting to validate the capital structure theories but the “puzzle” provides enough scope to validate and study it further. 

Regards

Jaspal Singh
09711001973
New Delhi

Motivation for my research topic

I have struggled hard to work on my research topic due to lack of focus, time and motivation. My attempt below is to document the three key motivators to continue to pursue my research topic on capital structure theories:
1. Study of capital structure is a complex due to involvement of multitude of factors that vary within firms over time, across industry and across countries. Majority studies have taken large sample of firms across industries to ascertain the determinants of capital structure and its adjustments. Hence, its imperative small subsets of sample firms are studied to better understand capital structure theories. This is of immense significance in context of Indian firms. 
2. Existing studies convincingly argue that careful measurement of key variables including the dependent variable (debt/equity ratio). Studies have tried to develop statistical models that attempt to explain the capital structure variation but each is a partial fix and still leaves much of capital structure variation unexplained. (see Graham, John R. and Leary , Mark T., A Review of Empirical Capital Structure Research and Directions for the Future (April 7, 2011). Annual Review of Financial Economics, Vol. 3, 2011.) Hence, need for using non-parametric methods on primary data (collected through) questionnaire is expected to help identify qualitative factors that influence the choice and variation in capital structures. The proxies for qualitative factors in the parametric models may have failed to capture their effects completely.
3. Despite years of research, capital structure remains a “puzzle” (see Myers, Stewart C., Capital Structure Puzzle (July 1984)). NBER Working Paper No. w1393.) Is capital structure of a firm an outcome of its business decisions or is it a determinant in business decisions? We have trade-off and pecking order theories  and several decades of empirical research attempting to validate the capital structure theories but the “puzzle” provides enough scope to validate and study it further.