International Journal

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International Journal of Commerce and Management (IJCM) have always endeavoured to promote inter-disciplinary research in the field of commerce and management. It has served as a unique platform for the young researchers as well as academicians, enabling them to reach out to the teaching fraternity and practicing managers with their incisive thoughts and research outcomes. It gives me immense pleasure and pride in releasing this latest volume of ‘IJCM’. This bi-annual journal is the annual feature of the Sardar Patel College of Administration and Management (SPCAM–MBA) affiliated to Gujarat Technological University, Ahmadabad and published bi-annual in March and September every year.
This present issue has 8 articles and research papers based on different areas in the field of commerce and management. Besides our researchers and academicians, our distinguished faculty members have also contributed their papers based on their extensive research and long experience. We had also invited articles from outside; many of them are being published along with this issue. All the research papers have been carefully selected so as to provide impetus for further research by the academics and innovation and development by practicing managers.
Lastly, IJCM invites theoretical and empirical research papers as well as case studies on any significant issues related to financial management, operations management, human resource management, information technology, corporate social responsibility, corporate governance, rural development, banking sector, investment banking, insurance sector and socio-economic development.

(Dr. Vashishthadhar Dwivedi)


Dr. Vashishthadhar Dwivedi
Professor and Director - SPCAM

Dr. Ajay P. Trivedi
Associate Professor and Head – SPCAM

Dr. Krishna Chandra Dwivedi
Associate Professor – SPCAM

Editorial Board:
Prof. (Dr.) S. S. Saranjdevot
Rajasthan Vidyapeeth,

Prof. (Dr.) Ved Vyas Dwivedi
Pro Vice-Chancellor,
C. U. Shah University,

Prof. (Dr.) S. A. Ansari
Head and Dean,
Department of Commerce and Business Administration,
University of Allahabad,

Prof. (Dr.) Sandip K. Bhatt
Post Graduate Department of Business Studies,
Sardar Patel University,

Dr. Sanjay Bhayani
Head and Dean,
Faculty of Management Studies,
Saurashtra University, Rajkot.

Mr. Umesh Singh
Assistant Professor,
BITS, Vadodara.

Mr. G. K. Rao
Librarian, MONIRBA,
University of Allahabad,


Editorial Committee:
Dr. Agnes C. Sequirio
Professor and Director,
Centre For Research and Development Studies,
University of Sanjose, Philippines.

Dr. Detelin Elenkov
Institute of Strategic and International Studies (ISIS),
Miami, Florida, USA.

Prof. (Dr.) P. L. Chauhan
Saurashtra University,

Prof. (Dr.) Parimal Vyas
M. S. University,

Prof. (Dr.) H. K. Singh
Ex Vice-Chancellor
MUIT, Lucknow
Faculty of Commerce
Banaras Hindu University, Varanasi

Dr. Alok Kumar Chakrawal
Professor and Co-ordinator,
Internal Quality Assurance Cell,
Saurashtra University,

Dr. K. S. Prasad
Assistant Professor,
G. H. Patel P. G. Institute of Business Management,
Sardar Patel University,
Vallabh Vidyanagar, Anand.

Published by:
Brick Publications
B/23, Nilkanth Bunglows, Nana Bazar,
Vallabh Vidyanagar, Anand – 388120.
Gujarat, India.



Guidelines For Contributors


International Journal of Commerce and Management (IJCM) with ISSN No. 2348 – 3032 and Impact Factor 2.425 (IFSIJ), a bi-annual journal (March and September Issue), aims at publishing the manuscripts of research papers, articles and management cases that make original contribution in various fields of commerce and management.

Editorial Policy, Review Process and Acceptance:

Publication of all submitted manuscripts is subject to the blind review.  Manuscripts will be judged primarily on their originality, substantive content including writing style, structure and length. Clarity and logical presentation are necessary. If necessary, the authors would be requested to make suitable modifications. Rejected articles will not be returned. The author, however, is solely responsible for all statements made in his or her work, including changes made by the Editor.
Contributor(s) will receive a confirmation mail on acceptance of their research paper, article and management cases before it is published.

Structure of the manuscript:
  • The manuscript must be in MS Word format only.
  • There must be an abstract of about 150 – 200 words and it should be indicated with the title of the paper and author name(s), designation(s), official address(es), mobile number(s), phone number(s) and e-mail address(es).
  • Manuscript should normally be of around 10,000 words (to an extent of 10 - 20 A-4 size pages, typed one sided in double lines spacing and  font size 12 as text in Times New Roman).
  • The manuscript should be submitted with the cover page bearing only the title of the paper and author name(s), designation(s), official address(es), mobile number(s), phone number(s) and e-mail address(es).
  • All footnotes should be indicated by serial numbers in the text and literature cited should be detailed under notes at the end of the chapter bearing corresponding numbers.
  • All references should be indicated at the end of the manuscript following the foot notes. Following are some of the examples for writing references:
  • Clarkson, M. (1995). "A stakeholder framework for analyzing and evaluating corporate social performance". Academy of Management Review. Vol.20, PP. 92-117.
  • George, Claude S. (1968). The History of Management thought, January, P. 14.
  • Tables/figures should be placed at the end of text, after footnotes, appendices and references. Tables should contain a source and units of measurement. Their location in the text should be indicated as follows:

Table 1.1

  • Capitalization of headings/text should be kept to the minimum and should be consistent.


Submission Procedure:

Manuscripts should be submitted along with an undertaking (as per the given format). Author(s)/Contributor(s) may submit their manuscripts on the following e-mail address: and along with scanned, duly filled in and signed format of the undertaking. You can check our websites also. The author(s)/contributor(s) may also send their manuscripts in hard copy to the address given below:

The Editor
“SANYOJAK” International Journal of Commerce and Management
Sardar Patel College of Administration and Management
SPEC Campus, Vallabh Vidyanagar
Anand – 388315, Gujarat, India
Phone No.: 02692-235318
Mobile No.: 09913664603, 09328802828

(Pharmacy) +91-757 483 1731
(Engg) +91-757 485 7901
(MBA) +91-757 483 1735
(B.Ed) +91-757 483 1732
(BBA|BCA|ISM|B.Com) +91-757 483 1736
(BSc) +91-757 483 1734
SPEC Campus -1
Sardar Patel Education Campus,
Vidhyanagar-Vadtal Road,
Bakrol, Anand,Gujarat, 318315.

Phone (Trust Office):
02692 - 235300, 232158
9099158587, 9099158580
SPEC Campus -2
Sardar Patel Education Campus,
12, Madhuvan Socity,
Mahadev Area, D-Mart Road,
Opp Sigma Prime, V.V.Nagar, Gujarat, 318315.

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