In order to disseminate the new information timely to the community, the college strives for a variety of publications such as research journals, newsletters, annual reports, and other project reports/policy briefs.

a. Bhutan Journal of Business and Management

The Center for Business Research and Entrepreneurship Development [CBRED] publishes the Bhutan Journal of Business and Management (BJBM). BJBM is a double-blind peer-reviewed journal published annually having secured professional ISSN-L 2079-7680 (PRINT) in 2010 and ISSN 2663-1784 (ONLINE) in 2019. The journal primarily encourages empirical and conceptual research articles, case studies, and research notes from diverse fields. It provides a platform for keen researchers, practitioners, professionals, and academicians who are involved in the field of business and management in particular and in other areas in general. The inferences drawn from the various studies of this journal are expected to benefit various stakeholders that include students, researchers, academicians, and policymakers both at the national and the international levels.
The scope of publication encompasses all areas of business and management such as accounting, finance, human resource management, marketing, economics, organizational behaviour, logistic management strategies, technological management, entrepreneurship, business communication, and other general management.

For enquiry or interested to submit manuscripts for publication in the BJBM, kindly write to the journal editor at

  • Call for Papers (2023)
  • BJBM Referencing Guide
Bhutan Journal of Business and Management (BJBM) Referencing
Common Reference Examples Guide
APA 7th Edition
This guide contains examples of common APA Style references.

Single Author (Book/E-Book)

Franks, A. (2005). Margaret Sanger’s eugenic legacy: The control of female fertility. McFarland & Company.

Franks, A. (2005). Margaret Sanger’s eugenic legacy: The control of female fertility. McFarland & Company.

Double Authors (Book) Dawson, J., & Lucas, R. (1993). Lifestyles of New Zealand forest plants (4th ed.). Victoria University Press.

Three to Twenty Authors When you have 3 or more authors, you only use the first author’s surname in text, and abbreviate the rest of the list with “et al.” (Latin for “and others”). In your reference list, you list all of the authors (up to 20).

In Text: Narrative citation: Boers et al.’s (2017) research into the use of pictures in glosses found they may decrease the amount of attention given to the words.

Parenthetical citation: Using pictures to illustrate glosses may, in fact, decrease the amount of attention given to the words (Boers et al., 2017).

In Your Reference List:

Surnames and initials for up to twenty authors should be provided in the reference list.

Pegion, K., Kirtman, B. P., Becker, E., Collins, D. C., LaJoie, E., Burgman, R., Bell, R., DelSole, R., Min, D., Zhu, Y., Li, W., Sinsky, E., Guan, H., Gottschalck, J., Metzger, E. J., Barton, N. P., Achuthavarier, D., Marshak, J., Koster, R., & Kim, H. (2019). The subseasonal experiment. Blackdawn.

More than Twenty Authors When you have more than 3 authors (regardless of how many), you only use the first author’s surname in text, and abbreviate the rest of the list with “et al.”. In your reference list, you list the first 19 authors and the last one, using an ellipses (…) to show that some authors have been omitted (do not use an ampersand &).

In Text:

Narrative citation:

Tobler et al.’s (2017) research found genetic evidence that suggests Australian Aboriginal people have inhabited the Australian landmass for approximately 50,000 years.

Parenthetical citation:

Genetic evidence suggests the Australian Aboriginal people have inhabited the Australian landmass for approximately 50,000 years (Tobler et al., 2017).

In Your Reference List:

Always include no more than twenty names, the first 19 and the last one:

Tobler, R., Rohrlach, A., Soubrier, J., Bover, P., Llamas, B., Tuke, J., Bean, N., Abdullah-Highfold, A., Agius, S., O’Donoghue, A., O’Loughlin, I., Sutton, P., Zilio, F., Walshe, K., Williams, A. N., Turney, C. S. M., Williams, M., Richards, S. M., Mitchell, N. … Cooper, A. (2017). Aboriginal mitogenomes reveal 50,000 years of regionalism in Australia. Nature, 544(7649), 180-184.

Journal Article

Lachner, A., Backfisch, I., Hoogerheide, V., van Gog, T., & Renkl, A. (2020). Timing matters! Explaining between study phases enhances students’ learning. Journal of Educational Psychology, 112(4), 841–853.

Online Magazine Article

Gander, K. (2020, April 29). COVID-19 vaccine being developed in Australia raises antibodies to neutralize virus in pre-clinical tests. Newsweek. vaccine-neutralize-virus-1500849

Print Magazine Article

Nicholl, K. (2020, May). A royal spark. Vanity Fair, 62(5), 56–65, 100.

Online Newspaper Article

Roberts, S. (2020, April 9). Early string ties us to Neanderthals. The New York Times.

Print Newspaper Article

Reynolds, G. (2019, April 9). Different strokes for athletic hearts. The New York Times, D4Blog Post Rutledge, P. (2019, March 1 ). The upside of social media. The Media Psychology Blog.

Authored Book

Kaufman, K. A., Glass, C. R., & Pineau, T. R. (2018). Mindful sport performance enhancement: Mental training for athletes and coaches. American Psychological Association.

Edited Book Chapter

Zeleke, W. A., Hughes, T. L., & Drozda, N. (2020). Home–school collaboration to promote mind–body health. In C. Maykel & M. A. Bray (Eds.), Promoting mind–body health in schools: Interventions for mental health professionals (pp. 11–26). American Psychological Association.

Online Dictionary Entry

American Psychological Association. (n.d.). Internet addiction. In APA dictionary of psychology. Retrieved April 24, 2020, from

Report by a Group Author

World Health Organization. (2014). Comprehensive implementation plan on maternal, infant and young child nutrition. 3048/WHO_NMH_NHD_14.1_ eng.pdf?ua=1

Report by Individual Authors

Winthrop, R., Ziegler, L., Handa, R., & Fakoya, F. (2019). How playful learning can help leapfrog progress in education. Center for Universal Education at Brookings. uploads/2019/04/how_playful_learning_can_help_leapfrog_progress_in_education.pdf

Press Release

American Psychological Association. (2020, March 2). APA reaffirms psychologists’ role in combating climate change [Press release]. climate-change

Conference Session

Davidson, R. J. (2019, August 8–1 ). Well-being is a skill [Conference session]. APA 2019 Convention, Chicago, IL, United States. Program_190708.pdf

Dissertation From a Database

Horvath-Plyman, M. (2018). Social media and the college student journey: An examination of how social media use impacts social capital and affects college choice, access, and transition (Publication No. 10937367) [Doctoral dissertation, New York University]. ProQuest Dissertations and Theses Global.

Preprint Article

Latimier, A., Peyre, H., & Ramus, F. (2020). A meta-analytic review of the benefit of spacing out retrieval practice episodes on retention. PsyArXiv.

Data Set

O’Donohue, W. (2017). Content analysis of undergraduate psychology textbooks (ICPSR 21600; Version V1) [Data set]. Inter-university Consortium for Political and Social Research.

Film or Video

Doctor, P., & Del Carmen, R. (Directors). (2015). Inside out [Film]. Walt Disney Pictures; Pixar Animation Studios.

TV Series Episode

Dippold, K. (Writer), & Trim, M. (Director). (201 , April 14). Fancy party (Season 3, Episode 9) [TV series episode]. In G. Daniels, H. Klein, D. Miner, & M. Schur (Executive Producers), Parks and recreation. Deedle-Dee Productions; Fremulon; 3 Arts Entertainment; Universal Media Studios.


Kamin, H. S., Lee, C. L., & McAdoo, T. L. (2020). Creating references using seventh edition APA Style [Webinar]. American Psychological Association. webinars

YouTube Video

Above The Noise. (2017, October 18). Can procrastination be a good thing? [Video]. YouTube.

Song or Track

Nirvana. (1991). Smells like teen spirit [Song]. On Nevermind. DGC.

Radio Broadcast

Hersher, R. (2020, March 19). Spring starts today all over America, which is weird [Radio broadcast]. NPR. america-which-is-weird

Podcast Episode

Santos, L. (Host). (n.d.). Psychopaths and superheroes (No. 1) [Audio podcast episode]. In The happiness lab with Dr. Laurie Santos. Pushkin Industries. episode-1


American Psychological Association. (n.d.). Data sharing [Infographic]. data-sharing-infographic.pdf

PowerPoint From a Classroom Website

Mack, R., & Spake, G. (2018). Citing open source images and formatting references for presentations [PowerPoint slides]. Canvas@FNU.


Obama, B. [@BarackObama]. (2020, April 7). It’s World Health Day, and we owe a profound debt of gratitude to all our medical professionals. They’re still giving [Tweet]. Twitter. BarackObama/status/1247555328365023238

Open Educational Resource

Fagan, J. (2019, March 25). Nursing clinical brain. OER Commons. Retrieved January 7, 2020, from


Chandler, N. (2020, April 9). What’s the difference between Sasquatch and Bigfoot? howstuffworks. html

Webpage on a News Website

Machado, J., & Turner, K. (2020, March 7). The future of feminism. Vox. identities/2020/3/7/21 63193/international-womens-day-2020

Webpage With a Retrieval Date

Center for Systems Science and Engineering. (2020, May 6). COVID-19 dashboard by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University (JHU). Johns Hopkins University & Medicine, Coronavirus Resource Center. Retrieved May 6, 2020, from https://

  • BJBM Volume 5 Issue 1, June 2022
Bhutan Journal of Business and Management (BJBM) Volume 5 Issue 1, June 2022
  • Validation of Wagner’s Law in the context of the Bhutanese Economy-Rinzin Dema, Tshering Dorji, & Karma Yoezer

    Abstract: Over the years, the public spending, along with the GDP has been rising in Bhutan. For instance, the public expenditure in Bhutan rose to Nu. 56331.357 million in the Fiscal Year 2018/19 from Nu. 49,966.611 million in the previous year (AFS 2017-18). This paper attempts to validate Wagner’s law against the Keynesian hypothesis in the context of the Bhutanese economy from 1991 to 2019. Wagner’s law of government expenditure and real income is opposite to the Keynesian hypothesis. In Wagner’s postulation, the causal relationship runs from real income to real government expenditure and it is reversed in the case of the Keynesian hypothesis. The two-way granger causality test result indicated that Wagner’s law does not hold and the evidence supports the Keynesian proposition. This is because Bhutan is more of a public-led welfare state and with its sluggish private sector growth, the economy requires the substantial support of the government. To assess the association of government expenditure with other macroeconomic variables such as inflation and unemployment, correlation and regression tests was conducted. The result showed that both consumption and capital expenditure positively influence inflation. The rising consumption expenditure has a positive relationship with unemployment; however, the capital expenditure can reduce unemployment.

    Keywords:expenditure, Wagner’s law, unemployment, inflation

  • Performance of Common Stock Market and Relationship between Common Stock Return and Inflation: A Bhutanese Case Study- Sonam Darjay

    Abstract: The stock exchange of Bhutan is considered one of the smallest stock markets in the world with market capitalization of BTN 49 billion . Since the inception of the stock exchange in 1993 to facilitate trading of both equity and debt securities, the performance of stock market with respect to the macroeconomic variables have not been studied by academicians and researchers in Bhutan. Similar to the asset-inflation relationship studies conducted in different countries, the objective of this research is in providing insights on the hedging features of the common stock returns against inflation as per the classical Fisher hypothesis postulated by Irving Fisher in 1930s. For this study, we selected nine different companies listed on the stock exchange and grouped them into banks, insurance and industry sectors. The data on the monthly consumer price index inflation rates is retrieved from the website of the National Statistics Bureau of Bhutan, and daily market closing price from website of the Royal Securities Exchange of Bhutan. To test the hypothesis, we used bivariate regression analysis for different groups of sectors. Other relevant information on the descriptive statistics of the nominal common stock returns and its variability with respect to the inflation is also discussed. Our result shows that the nominal common stock return does not act as a hedge against inflation. In addition, our study indicates a weak inverse relationship between the nominal common stock return and inflation, though the result is not statistically significant to support the negative relationship between the two.

    Keywords:common stock return, inflation, Fisher hypothesis, bivariate regression

  • Does Qualification count for Managing Financial Products and Services? A Study of identified Blocks in Bhutan- Purna Prasad Sharma

    Abstract: This paper explores managing financial products and services by Bhutanese in some of the identified blocks (Gewogs) in Bhutan. It investigates various skills of managing financial products and services primarily on four financial management dimensions namely, Perception of General Financial Knowledge (PGFK), Perception of Savings and Borrowings (PSB), Perception of Insurance Planning (PIP) and Perception of Making Investment (PMI). The research is based on the baseline data collected from the respondents. Data were collected with the help of structured schedule. A total of 537 respondents were included from two blocks of Chukha district (rural) Thimphu, the capital city of Bhutan (urban). The data were analysed and interpreted based on qualifications of the respondents. Mean and standard deviation were used to describe the characteristics of the data. In addition, ANOVA was used to test the research hypotheses. The inferences of the study reveal current scenario of managing financial products and services among the Bhutanese. It portrays cases that people with higher education level obtained higher financial skills in almost all the dimensions (except that of PMI). The post-hoc tests, however, do not support research hypotheses in the study. The study is purely based on primary data and is expected to have some positive bearing on the key stakeholders of the country including that of policy framing agencies. Besides, the study may be taken as a case teaching material and may act as significant supplementary reference in the classroom teaching.

    Keywords:perception, financial skills, financial products and services, qualification, Bhutan

  • Outreach, Sustainability and Efficiency of Microfinance Institutions in Nepal- Sabin Subedi & Dipesh Karki
    Abstract: Microfinance Institutions (MFIs) provide financial services to those who have no access to finance and are hence considered a tool for poverty alleviation. However, the clear relationship between the depth of the MFIs and their sustainability is still lacking as there is an ongoing debate on whether the two components complement each other or whether there exists a tradeoff. This study applied the panel regression analysis to the data from 44 MFIs of Nepal from 1999 to 2019 and explored the inter-relationship between depth and sustainability of MFI in the Nepalese context. In addition to the two variables of interest, this study further analyses the interaction effect of operational efficiency. The findings show a significant tradeoff relationship between outreach and sustainability at a 99% confidence interval, further moderated by operational efficiency. As a result of increased operational efficiency, MFIs can have better outreach and sustainability. These findings can thus provide a better policy prescription that promotes operational efficiency and ultimately improve both the outreach and sustainability of MFIs.

    Keywords:microfinance institutions, depth of outreach, financial sustainability, operational efficiency, Nepal

  • HRM-Firm Performance Linkage: Unpacking the Black-Box-Jose Mathews & Purna Prasad Sharma

    Abstract: The objective of the study is to bring out the linkages between HRM practices and organizational performance that continue to enthuse the researchers and practitioners as there are mediating and interacting variables in this relationship of distal nature. The black-box model approach was adopted to keep the options open for the researchers to unpack the box with intervening variables. In evaluating the extant literature, the methodology of the study, and intervening variables that link the relationship are derived from the organizational behavioural processes of individual, group, managerial and organizational structures and functions. The structural and functional integration suggested bridging the gap between HRM practices and performance.

    Keywords:HRM-performance, HRM practices, OB processes, Strategic HRM, Black-Box Model.

    • BJBM Volume 4 Issue 1, June 2021
    Bhutan Journal of Business and Management (BJBM) Volume 4 Issue 1, June 2021
    • An Assessment of Faculty’s Happiness in Terms of Time Use at Work Place-Dawala, Dawa Drakpa, Sonam Loday

      Abstract: Employees are deemed to be happy when there is job satisfaction, job security and work-life balance. This study used quantitative approach. The foremost aims of the study were to assess the employees’ happiness in terms of time use in business colleges of Bhutan and to find out the difference between employees’ happiness in terms of time use for public and private business colleges of Bhutan. This study has adopted the time use dimension from GNH of Business which consists of working hours, work pressure, flexi-time, work-life balance, adequate break and sleeping hours. Using census survey method, all 141 academics from GCBS and RTC were enumerated. The study found that overall employee’s happiness in terms of time use is 67.34% where employees of GCBS are happier (73.52%) than employees of RTC (60.82%).

      Keywords:Assessment, happiness, time use, work place, GNH

    • Competency Evaluation for Training Needs Identification of Faculty at Gedu College of Business Studies-Rajnish Ratna, Purna Prasad Sharma, Shad Ahmad Khan, Sonam Dema, Bal Bahadur Rasaily
      Abstract: Every organization prefers highly productive human resources which are directly revealed through performance and behaviour at work. Competency is the inner characteristics that control performance and behaviour. This study is aimed at analysing the right set of competencies of faculty, followed by evaluation and gap analyses. The evaluation and gap analyses are used for training needs identification followed by recommendations of the right sets of training and development programmes. The data is collected from 46 teachers of GCBS using a self-designed questionnaire following a census survey. SPSS 21 is used for data analysis. The results revealed that the level of GCBS faculty in each factor of behavioural competency is reported above average while the highest mean is reported in communication and interpersonal skills. In functional competency, the highest level is reported for punctuality and time management followed by teaching-learning effectiveness while the above-average score is reported for factors – quality awareness, academic administration, student development and information technology leverage. The level for research and publication, and industry interaction is reported below average.

      The College Research Committee is suggested to organize workshop/seminar/webinar on research and publication for different subjects and or specialization of faculty. The college recommended providing access to online research papers from international level publishers. In addition, it is suggested to improve the industry interaction of faculty along with students on a regular interval of time to ensure active participation and involve faculty in consultancy projects.

      Keywords:Competency, competence, functional, behavioural, faculty, training needs identification

    • Employees’ Perception about Female Leadership in Government and Corporate Sectors: A Contextual Study of Bhutan-Khem Prasad Gautam, Purna Prasad Sharma, Manju Shree Pradhan

      Abstract: This paper aims at studying the perception of employees on the identified attributes associated with female leadership in government and corporate sectors in Bhutan. It was assessed with the help of variables which are closely associated with the attributes of female leadership such as affection, efficiency and collaboration. Descriptive and inferential statistics were used to describe the research data and to find the perception difference between male and female employees about female leadership respectively. The research results indicate employees’ perception about female leaders to be slightly more affectionate and efficient. However, they are perceived to be less collaborative across both government and corporate sectors. When compared to males, female employees rated female leadership significantly higher across all three attributes. A higher degree of perception is observed if the immediate supervisor whom employees report to is a female, and vice versa. The inferences drawn from the study may not be generalized to the whole nation as the data was collected only from government and corporate organizations. Also, given the nature of the study, the instances of social desirability bias may have occurred and the honest response might have been compromised. The outcome of this study demands educational interventions and awareness programs across organizations to eliminate the glass ceiling effect so that more females take part in leadership positions. This study could provide some key insights to the female leaders, both in-the-system and aspiring, to understand their stand and challenges in their pursuit to take up leadership roles both in and across the country. This research adds to the limited number of gender-based leadership studies in the country and therefore it could also be useful for concerned researchers, academicians and policy makers as an information input in their respective disciplines.

      Keywords:Leadership, gender, employees, perception, affection, efficiency, collaboration

    • Entrepreneurial Characteristics amongst University Students (RUB) in Comparison with Established Entrepreneurs of Bhutan-Kinga Wangpo, Sonam Wangmo

      Abstract: Entrepreneurs’ characteristics have a major impact on their inclination towards new start-ups/entrepreneurship. This study attempted to assess the impact of entrepreneurial characteristics on entrepreneurial inclination and if students and existing entrepreneurs differ in terms of their characteristics. Six entrepreneurial characteristics were examined by researchers: the need for achievement, locus of control, propensity to take risks, tolerance for ambiguity, innovativeness, and self-confidence. A total of 352 students from the colleges of Royal University of Bhutan (RUB) and 35 established Bhutanese entrepreneurs participated in the study using an online structured questionnaire through Google Form with a quantitative research design. The results were analysed and presented using descriptive statistics, correlation analysis, regression analysis, and an independent sample t-test. The results showed that all six characteristics are positively correlated with entrepreneurial inclination in both students and established entrepreneurs, and these characteristics (predictors) also had a statistically significant effect on entrepreneurial inclination shown by regression analysis. The results also showed that there is a significant difference in mean values between the two study groups, i.e. established entrepreneurs and students, on Tolerance for Ambiguity, innovativeness, and Self-Confidence, where established entrepreneurs have higher of these characteristics compared to students. The key recommendations of the study are capacity building of the students and guidance from the educators in the area of entrepreneurial characteristics in which students are lacking by introducing Business incubation centers on the campus.

      Keywords:Entrepreneurial characteristics, inclination, established entrepreneurs, students

    • Impact of Organizational Politics on Employee Satisfaction: A Case of GCBS-Tshering Lhamo, Kinley Wangchuk, Ugyen Choden, Suman Biswa, Tashi Lhamo, Tshering Wangchuk, Yangdon
      Abstract: The study examined the impact of organizational politics on employee satisfaction. Data was collected from 99 employees through a survey questionnaire with Gedu College of Business Studies as the case. Employees in general perceived significant the prevalence of organizational politics. However, employees older than 50 years of age had a significantly lower perception of prevalence of organizational politics. A significant positive correlation between organizational politics and employee satisfaction was found. A significant regression equation was found at (F(4, 94)=14.041, p=.000) with an R^2 of .347. Thus, it is recommended that the management take up some interventive measures like providing higher degree of autonomy while simultaneously ensuring clear rules and procedures are in place. Another important strategy for mitigating the negative impact of organizational politics on employee satisfaction is through fostering an organizational environment of trust and social support both from the leaders and the co-workers.

      Keywords:Organizational politics, organizational environment, employees, satisfaction, autonomy

    • Salesmanship Qualities of Retailers: Customer Perception in the Context of Thimphu, Bhutan-Dhanapati Sharma, Tenzin Yeshey, Ugyen Lhamo, Tshering Dorji, Tshering Chophel, Ugyen Chezom, Tshewang Yuden
      Abstract: This study aimed to assess the salesmanship qualities of retail enterprises based on the customer’s perception. In this survey-based perceptual study, 383 customers participated giving their views on the salesmanship qualities of the retail enterprises in Thimphu. Four qualities of salesmanship were evaluated: sales personality, knowledge of the goods, knowledge of the customers, and their buying motives and services. The results indicated that 47.14% of the customers felt that the salespersons of the retail enterprises in Thimphu lack the most competent salesmanship qualities. There is a need for developing training centres and offering tailor-made courses to the salespersons focusing on their ethical practices and qualities that a competent salesperson is expected to possess.

      Keywords:Bhutan, business, retail enterprises, salesmanship

      • BJBM Volume 3 Issue 1, June 2020
      Bhutan Journal of Business and Management (BJBM) Volume 3 Issue 1, June 2020
      • An Assessment of Organizational Commitment among the Faculty Members of RUB Colleges - Tshewang Norbu

        Abstract: Organizational commitment is a psychological construction of responsibility that an employee has towards the mission and direction of an organization. This study attempted to assess the level of organizational commitment among the faculty members of the constituent colleges of the Royal University of Bhutan. The problem of many organizations today is not just to have more skillful and intellectual employees in each and every department, but also to find the right talented employees with positive attitude and commitment to their work. Employees’ involvement with the organization could be minimal if they do not feel the sense of engagement with the organization they work for. This observation has brought about the purpose and need for this study, which is to examine the level of organizational commitment. With a quantitative research design, this study adopted a cross-sectional online survey method of data collection with a sample size of 197 from all the constituent colleges of RUB. Descriptive statistics, means, independent samples t-test and correlation analysis were performed to generate the relevant results. The result reveals that overall commitment level of the faculty members are relatively poor and male faculty members tend to report slightly higher level of commitment compared to female faculty members.

        Keywords: Organizational Commitments, Affective, Continuance and Normative,

      • Organizational Architecture of Human Resources - Jose Mathews, Karma Yezer and K M Antony
        Abstract: In the human resource-based view of an organisation, resource heterogeneity of the firm provides sustainable competitive advantage. The two core variables that define the resource heterogeneity are the content capital (human capital) and the contextual capital (organisational and managerial processes) of the firm. Using the architectural designs that specify the gradient of organisational performance, this paper suggests the organisational architecture of human resources, delineating the mechanisms of content capital and contextual capital formations. The general model of architecture explains the key variables that architect the content capital and contextual capital. The interactive architectural designs specify the patterns of interaction between the contextual capital processes like leadership, decision-making, communication, motivational strategies, control systems, innovation processes and organisational culture that interact with the content capital of weak and strong patterns producing varying organizational performance outcomes.

      • Implementation of RGoB Procurement Rules and Regulations (2009): The Challenges of RUB Colleges - Pema Wangchuk, Namgay Dorji, Sonam Wangda and Kencho Wangmo
        Abstract: This study presents the challenges of Tender Committees of the colleges of the Royal University of Bhutan (RUB) in implementing the Royal Government of Bhutan’s Public Procurement Rules and Regulations (RGoB PRR 2009), hereafter referred to as the manual. The challenges of the manual have been extensively deliberated in the parliament, Royal Audit Authority, Anti- Corruption Commission and media in the country. However, there is lack of consideration to address the matters due to rapidly growing challenges among the procuring agencies in the country with no exception to colleges of RUB. The key variables examined in the study are the level of knowledge, the procedure compliance and enforcement of the manual. A total of 36 committee members participated in the study through survey questionnaires and personal interviews. The descriptive statistics was used to analyse and present the findings. The findings showed the need for all colleges to address the challenges and ensure uniformity in the implementation of the manual in the process of procurement. The capacity building programme for the tender committees is one of the key recommendations.

      • Higher Education: A Case Study of Leadership at the Royal University of Bhutan - Kinley Rinchen
        Abstract: Effective leadership is key to any organisational success including higher education institutions. This paper assesses the different aspects of leadership in the Royal University of Bhutan (RUB) using Bryman’s 13 Key Behaviors of Effective Leaders. Secondary data from Organisational Behaviour Survey 2015 was used. It covered 548 respondents from eight colleges and Office of the Vice Chancellor. A simple aggregate analysis was used to draw inferences. Findings show that employees have generally rated high in the way they communicate broader direction – vision and mission, treatment of staff in a fair manner, being approachable, and building harmonious relationship with colleagues. However, ratings are lower on engagement of staff in planning processes, providing constructive feedback, delegating decision-making authority and ensuring coordinated approach to planning and implementation. Based on the assessment, the paper offers suggestions for a system of rigorous leadership training that will continue to nurture the strength of existing leadership.

      • A Study of Identified Factors for Motivation of Entrepreneurship in the Business Colleges - Tenzin Phuntsho
        Abstract: Students’ motivation for entrepreneurship has various factors. This research intends to rank the factors among the attitudes towards entrepreneurship: subjective norms, perceived behavioral control, and entrepreneurship education that motivate students to become an entrepreneur. Data for this quantitative study were collected from the students of Gedu College of Business Studies (GCBS) and Royal Thimphu College (RTC). Descriptive statistical tools such as frequency, percentage, mean score, and standard deviation were used to analyze the data. The findings reveal that attitudes towards entrepreneurship are contributing more towards motivating students to become an entrepreneur followed by entrepreneurship education and subjective norms. Perceived behavior control is found to be the least motivating factor to become an entrepreneur.
        • BJBM Volume 2 Issue 1, May 2019
        Bhutan Journal of Business and Management (BJBM) Volume 2 Issue 1, May 2019
        • Gross Organisational Happiness (GOH): An Extension of theGross National Happiness (GNH) Concept, By: Sonam Tobgye
          Abstract: This paper introduces the concept of Gross Organisational Happiness (GOH), an analytical tool that businesses, organisations, and communities could implement as a way to improve their working environment and productivity. The analogy of a structure of a house is used to describe the link between GNH, GOH and Gross Organisational Happiness Data System (GOHDS). Currently, the GOH concept is largely conceptual because its empirical evidence is limited to the findings of a case study. However, the potential exists for GOH to be widely applied in businesses to enhance the conventional profit-based notion of success. One obstacle of GNH to date has been its apparent lack of practicability, and so the new GOH expands upon GNH. This article first examines the       meaning of ‘happiness’, its relevance to the concept of Gross National Happiness (GNH) and how it has led to the new concept, Gross Organisational Happiness (GOH).

          Keywords: Paradigm shifter, Gross National Happiness, Gross Organisational Happiness, data system, material and mental well-being.

        • Entrepreneurial Intent amongst Business Students: A Perspective in Bhutan, By: Tandin Chhophel, Tenzin Rabgay & Dawala
          Abstract: Entrepreneurship in Bhutan is an emerging phenomenon both in terms of research and practice. Entrepreneurship is viewed as an alternative strategy to mitigate the rising youth unemployment problems. Against this backdrop, this research examines the entrepreneurial intent of the undergraduate business students in Bhutan. Perceived support, perceived barrier, attitude towards entrepreneurship and educational programme constitute determinants to examine the variation in the students’ entrepreneurial intent. The participants of the research include the second and the final year undergraduate business students of the Royal University of Bhutan from both the business programmes of Bachelor of Business Administration (BBA) and Bachelor of Commerce (B.Com) (n=300). A proportionate convenience sampling was applied where 30% students from every class were chosen to participate in the research. Self-administered survey questionnaires were used to elicit information. The multiple linear regression analysis has been used to analyse the data which shows that the four predictors explain 42.9% of the variation in the entrepreneurial intent of the students. The attitude towards entrepreneurship is the significant predictor. This research is amongst the initial studies conducted on entrepreneurial intent in the Bhutanese context and brings a newer perspective in the understanding of entrepreneurial intent among the present youth.

          Keywords: Attitude towards entrepreneurship, business students, entrepreneurial intent, entrepreneurship education, perceived barrier, perceived support

        • Self Help Groups - Imperative for Financial Inclusion in India, By: Purna Prasad Sharma
          Abstract: India, in the last couple of decades, has witnessed competent growth in the financial service sector.  However,  several  questions  have  often  been  raised  for  majority  of  impoverished population that is excluded from formal financial system. The exclusion is very high in which one of the surveys shows that 59 percent of the rural household do not have deposit account and 79 percent of the rural households are outside the purview of credit from formal sources. The degree of such vast financial exclusion raise questions towards the Financial Inclusion Policies (FIPs) of the government and demands new mechanism and interventions to address the same. The Self – Help Groups (SHGs) in the recent past have been found as an effective tool to streamline poor with formal financial system. The present study, therefore, is a micro attempt where the current scenario of Financial Inclusion (FI) and the role of SHGs on the promotion of FI in India have been studied. The secondary data from NABARD, RBI, government departments, journals and websites form the sources of the study. The percentages and Linear Growth Rate (LGR) of different financial variables have been calculated to draw proper inferences. The study at the end infers that SHGs play pivotal role in bridging the hiatus between poor and financial institutions. The SHG Bank Linkage (SBLP) programme has been effective for streamlining poor with formal financial system. Over the years, the number of savings and credit linked SHGs have been increased. With the increased number of SHGs, the volume of loan outstanding and savings bank balance have also been increased. Besides, the roadmap prepared by the RBI for providing banking outlets in unbanked villages and preparation and implementation of board approved FIPs have been found significant for FI.

          Keywords: Financial Inclusion, Self Help Groups, Microfinance, Poverty

        • Servant Leadership: A Componential Analysis, By: Jose Mathews and Tshering Lhamo
          Abstract: Servant leadership, an exceptional form of leading and interacting with the followers in the process of endogenous and exogenous goal achievement, generally involves ‘I serve’ form rather than the commonly practiced ‘I lead’ form. Conceived in the realm of spiritual and ethical form of influencing, the  theory and practice of  servant leadership is  still in  its  evolving stage. The converging  and  diverging  interpretations,  however,  do  not  dilute  the  essence  of  servant leadership.  The  differing  analyses  further  illuminate  the  nature  of  servant  leadership.  In dissecting the components of this unique form influencing, the key psychological processes are subjected to study in the context of the general parameters of servant leadership.

          Keywords: Leadership, Servant leadership, Emotional processes, Cognitive processes, Motivational processes, Personality processes, Social relational processes

        • Class Absenteeism and Exam Performance of Gedu College of Business Studies (GCBS) Students By: Rinchen Dorji and Namgay Dorji
          Abstract: Literature on the importance of class attendance affirms the positive effect of attendance on student achievement. Royal University of Bhutan has therefore, developed attendance policies that mandate all students to attend at least 90% of the classes in each module. Consequence of the law, every semester many students are directly declared fail in the respective module(s) of attendance shortage which do not actually represent the real learning outcome of the students. Therefore, to evaluate the actual impact of attendance in terms of learning outcomes a correlation analysis is performed using Feb.-June 2015 semester data. Results indicate a statistically significant but weak  positive  correlation  between  lecture  attendance  and  exam  performance  (, suggesting  the requirement to improve class deliveries and course designs. Students are also recommended to develop their personality towards class attendance and learning.

          Key words: Attendance, Exam Performance and Correlation

        • Indian and Bhutanese Governments Support Platform towards E-Marketing in SBEs: An Exploratory Study By: Dr. Shad Ahmad Khan and Dr. Asif Ali Syed
          Abstract: E-Marketing is often considered to be the future of marketing and the other related fields. The last two  decades have  been  crucial  for  the  E-marketing as  the  world  is  witnessing the  biggest electronic revolution in the era of Information Technology and Computers. Today every organisation strives to mark its presence on the E-world along with the real world through different E-Sources available to it. The ever growing E-commerce is the biggest evidence of the presence of E-marketing in the modern world. This development in the field of marketing is possible  because  of  the  E-Infrastructure  available  in  an  economy  which  is  the  result  of government policies and vision pertaining to the future of the respective nations. Many authors, researchers are of the opinion to develop the E-marketing practices so as to develop the economy as the E-marketing tends to target more number of customers, suppliers and other stakeholders. The present study is an attempt to analyse support platforms available for SBEs in the two neighbouring countries India and Bhutan. The study analyses the various government agencies available in these two nations and their contribution in providing the support platform towards E- marketing in SBEs. The study also compares the practices of the two nations based on the literature and tries to draw a meaningful conclusion and recommendations thereon.

          Keywords:   E-Marketing, Small Business Enterprises (SBEs), Information Technology, Support platform, India, Bhutan, government agencies

        • Managing University Networks and Internationalisation By: Cathryn B. Bennett
          Abstract: Using a meta-analysis of peer-reviewed scholarly research and policy documents, this paper analyses higher education Internationalisation. Cases from India, China, and the Himalayan University Consortium (HUC) are presented. Challenges of standardized quality assurance and ethical intentions of foreign institutions in developing cross-border education agreements emerge from the cases. Furthermore, the cases demonstrate the myriad potential benefits to be gained from international connectivity of universities ranging from improved teaching, learning, and research quality as well as the development and co-creation of best practices. Implications for the Royal University of Bhutan and other similar tertiary education institutions include the necessity of observing and adapting local approaches based in the experiences of other countries’ universities already well-versed and practiced in the beneficial and adverse repercussions of internationalizing and networking institutions of higher learning.

          Keywords:   Higher education, Internationalisation, networks, cross-border education, quality assurance

        • For full paper, contact or
        • BJBM Volume 1 Issue 1, October 2011
        Bhutan Journal of Business and Management (BJBM) Volume 1 Issue 1, October 2011
        • Employees Stress Level: A Study on Bank Professionals in Bhutan, By: Md. Hassan Jafri, Royal University of Bhutan (Gedu): Bhutan
          Abstract: This study intends to understand organisational role stress experienced by employees of banks in Bhutan. In this study, Organisational Role Stress (ORS) scale developed by areek (1993) is used, which studies ORS from ten dimensions. Data are collected from 56 full-time employees working in two major banks (Bank of Bhutan and Bhutan National Bank) in Bhutan. Results reveal that employees have moderate level of work stress. Of which, female employees are more stressful than their male counterpart, young employees are under more stress than old employees and employees with high educational qualification are more stressful. The study may help organisations to deal with and manage effectively employee’s occupational stress.

          Key Words: Organizational Role Stress, Occupational Stress, Work Stress, Bank Professionals in Bhutan

        • Demonstration Effect among the students of GCBS, By: Tshering Yangzom, Rinchen Chopel, Dawa Tshering, Ugyen Wangchuk, Kesang Tshokey, Tashi Chozom, and Chencho Wangmo
          Abstract: This paper is motivated by the work of James S. Duesenberry in which he tries to figure out human behaviour of excessive consumption without looking at his income. The paper however, highlights the importance and effectiveness of student’s consumption pattern in a college scenario by taking Gaeddu college as a particular area of study but the results of the research can be related to all college students. The research alsoidentifies the factors that may determine student’s behaviour towards the consumption of products other than their basic necessities. It also aims at possibly solving the problems of student’s uncontrollable spending habits and finding out ways in which students can manage money and find more effective and economical ways of spending. the research was conducted with regard to Duesenberry’s demonstration effect which is based on the theory that people’s buying behaviour is influenced by others and not simply people around them but those that they look up to. The possible causes of student’s uncontrollable spending habits have been identified and analysis has been done by drawing nine parameters that are likely to have an impact on the student’s buying behaviour and collecting responses through questionnaires.

          Key Words: Income, demonstration effect, spending habits, student etc.

        • Problems and prospects of Bhutanese Film Industry, By: Phub Dorji, Phuntsho Wangmo, Sangay Tenzin, Sonam Wangchuk, Thinley Penjor, Ugyen Chophel.
          Abstract: The upcoming Bhutanese Film Industry seems to have potential to act as a medium to exhibit the Bhutanese culture around the world if it captures a part of share in the international market. However, there are many factors which would hurdle its growth. This research identifies four factors namely, quality of the films, piracy issues, theatre constraints and lesser audience, which seem to hurdle the growth of Bhutanese film production at current phase. In this research, the researchers studied about, to what extent these factors affect the film productions, based on the opinion of viewers, producers and governing bodies. The viewers in this research comprises of the viewers within the city of Thimphu only. This is with the assumption that it represents the typical character of the Bhutanese film viewers. Considering these views, the research has found out that the quality, piracy and audience do exist in the Bhutanese Film Industry and it affects on an average but the problem of theatre shortages is affecting the growth of film industry with relatively greater magnitude.

          Keywords: Bhutanese Film industry, piracy, theatre constraints, etc.

        • Globalisation and Jobless Growth, By: Raj Kumar Sen, Rabindra Bharati University, Kolkata (India)
          Abstract: Globalisation in its current phase was expected to generate more employment not only directly but also indirectly through expansion of trade, income, FDI, etc. But for many developing economies of the world, this expectation could not be realised during the last two decades of its operation and in particular, it has resulted in to a jobless growth which often led to a voiceless and ruthless growth ultimately resulting into a futureless growth. The question of human rights protection in the field of employment under globalisation for women in EPZs in particular, is also important. This includes feminization of poverty and subsequent denial of human rights. This paper introduces these problems and attempts to depict them at different levels and emphasises on the experiences of India which is the habitat of one-sixth of humanity. The paper organises as follows: Introduction; Globalisation and Jobless Growth- A Global Scenario; Globalisation and Jobless Growth- The Indian Case Study; and Conclusion and Policy Prescriptions to meet the Challenges.

          Keywords: Jobless Growth, Truncated Globalization, and Feminization of Poverty

        • Integration of SAARC Nations: Growth, Trends and Challenges, By: Ramanjeet Singh, Institute of Management and Technology, Chandigarh India, and Ramita Verma, Surya World Rajpura Punjab, India
          Abstract: South Asia is emerging as the most promising and energetic region in the global economy. Expansion of domestic economies, rising opportunities for incomes and investments, growing of financial markets, greater pursuit of peace and stability are major driving factors of the current pace of growth in South Asia. Economic growth of the region has picked up at the faster rate in the last two years. Seven out of eight countries in the South Asia region have registered economic growth rates over 6 percent a year, making it one of the dynamic regions in the world. According to Global Economic Prospects of the World Bank, real GDP growth in South Asia which was at 5.7 percent in 2009 is poised to take leap to 6.9 percent in 2010 and to 7.4 percent in 2011. As compared to other regions, the prospect for South Asia seems to appear much brighter in the near future. Financial markets encompass institutions, financial products, market mechanism and services, which can be convenient tools to build common economic market. Financial market in the SAARC region will be a powerful mechanism to foster economic development and enhance quality of life of the people in our respective countries. This paper tries to highlight the latest trends and developments of SAARC nations, especially the role of India in the bloc.

          Keywords: Integration, Export Trade, Tariffs, SAFTA

        • Importance of business linkage in the marketing of Handicraft product: A Case Study of Handicraft Industry in Manipur, By: Elangbam Haridev Singh & Elangbam Bijoy Kumar Singh
          Abstract: Handicraft industry is a major industry, and source of employment for rural as well as urban Manipur and India. But this industry has a big issue of sustainability in the present micro-and macro economics environment. To sustain in the present competitive environment, business linkage has been adopted as a strategy to make the industry competitive in terms of productivity and help better marketing. One of the main problems of handicraft industry is lack of marketing capability on the part of craftsman. This paper will study the importance of business linkage for sustainable growth of handicraft Industry and examine the type of business linkage which is prevailing in Manipur. The impact of business linkage type like commercial subcontracting, joint venture, buyback, arms length market transaction, licensing etc on the profit and sales of handicraft industry in Manipur are also examined. Logit model is used to examine the impact of these variables on the growth of handicrafts industry in Manipur.

          Keywords: Rural Industrialization, rural development, Business linkage, Handcraft Industry

        • Value Education and GNH- A general Perspective By: Rajeeta Sapam
          Abstract:This article is an attempt to draw the similarities of the concept of GNH educational policy introduced in Bhutan with the general view of Value Education in other countries. It also deals with some general observations of some values still practiced by the general people. Lastly a perspective of the possible consequences of the GNH educational programme is given.

        • Review and Reflections on the Moveable and Immoveable Property Act of Bhutan 1999, By: Kim Van der Borght
          Abstract: The Moveable and Immoveable Property Act of the Kingdom of Bhutan of 1999 is an act dealing with secured loans using moveable or immoveable property as security for the loan. This article reviews the main legal provisions of the Act and offers some suggestions on how to deal with issues of interpretation as well as with some provisions that could benefit from further analysis. 

          Keywords: Moveable and Immovable Property; Bhutan; Loan; Security

        • For full paper, contact or

        (b) Publication in Journals/Books

        (a) Peer-Reviewed Publications 2019-2020

        Publications (2019-2020)- considered by IRT Team (APA 2019-2020)

        1. Suresh, N., Ligori, T. A.A.,& Khan, S.A. (2019). A Comparative Study of Financial health of Bank of Bhutan Limited and T-Bank Using EMS Model. Journal of Banking, Information Technology, and Management, 16(1), 3 -9. ISSN: 0972-902X. (UGC Listed Journal) (Impact Factor 4.876) (Peer Reviewed Journal)
        2. Suresh, N., Ligori, T. A.A., Khan, S.A., Samten. J (2019). Financial Distress Prediction of Wood Craft Centre Limited (WCCL) Using Altman Z-Score and Zmijewski X-Score Model. Journal of Management Outlook, 9(1), 3 -9. ISSN: 2231-1769. (UGC Listed Journal) (Impact Factor 4.270) (Peer Reviewed Journal)
        3. Suresh, N., Ligori, T. A.A., Khan, S. & Khan, S.A. (2019). Comparative Financial Performance and Financial Soundness of Banks in Bhutan: Application of DuPont and Bankometer Models. International Journal of Psychosocial Rehabilitation, Vol, 23(1), 441-448. ISSN: 1475-7192 (Online). URL: Scopus.
        4. Namgay Dorji, SangayDorji and ElangbamHaridev Singh (2019). A Study on Leadership Style in Bhutanese Banking Sector: An Employee Perspective.  Journal of Management Outlook, 9(2).ISSN: 2231 – 1769: URL
        5. Namgay Dorji & Kriti Bhaswar Singh (2020). Tracer Study: An Analysis of 2018 Graduates of Gedu College of Business Studies, Bhutan. International Journal of Science and Technology. 29(5), 1680-1686. (ISSN: 2005 – 4238 IJAST). URL:
        6. S. Daly, PhuntshoChoden, Vagavi Prakash,(2020). Marketing, Wearable Messaging & Millennials. SSRG International Journal of Economics and Management Studies 7(4), 222-DOI 14445/23939125/IJEMS-V7I4P127
        7. Dhanapati Sharma and Nima Wangchuk (2020). A thematic analysis of the novelette Dawa: the story of a stray dog in Bhutan. Journal of English Language and Literature (HOELL), 7(1), 86-92.
        8. Sonam Wangda (2019). GCBS students’ perception on determinants of higher education quality. International Journal of Arts and Education Research,8(3), 1-14. ISSN: 2278-9677, URL:
        9. Tenzin Phuntsho, Karma Yezer, Sonam Wangda (2019). Factors affecting access to credit among small enterprises in selected towns of Chukha district in Bhutan. Voice of Research, 8(1), 72-77. ISSN: 2277-7733, URL:
        10. ElangbamHaridev Singh, Sonam Wangda, Sadaf Khan, Shad Ahmad Khan (2020). Exploring the Obstacles for Start-ups in Bhutan: From a Prevented Entrepreneurs Perspective. International Journal of Innovation, Creativity, and Change,11(4), 70- 87. ISSN 2201-1323 (
          Scopus), URL:
        11. Azamat Maksudunov, Samten Jamtsho, OmurbekIlimbekov (2020). Perception towards drivers of entrepreneurship: a cross-cultural study on the university students from Kyrgyzstan, Bhutan & Taiwan. Soysoekonomi, 28(43), 135-151. ISSN: 1305-557
        12. Alka Rathore (2020). Management of non-performing loans by Bhutanese commercial banks. International Journal of Economics and Business Research, 19(2).166. 10.1504/IJEBR.2020.10026384.
        13. Elangbam Haridev Singh, RinchenDorji, Rajnish Ratna and RajneetaSapam (2020). Drayang: through the lens of the socio-economic landscape of urban culture in Bhutan. The Journal of Research on the Lepidoptera, 51(1), 769-782. ISSN: 2156-5457 (online)
        14. Mathews, J (Dec. 2019). Brand loyalty: a configurational Model, IUP Journal of Brand Management, 16(4), p. 7-29, ISSN: 0972-9097 (indexed)
        15. Mathews, J., Karma, Yezer, and KM Antony (June 2020). Organization Architecture of Human Resources. Bhutan Journal of Business Management, Vol3(1).- in Press
        16. PP Sharma, Shad Ahmad Kham & Prabha Thoudam (2019).Financial inclusion, awareness, and understanding of financial products among people in selected Gewogs (Blocks) of Bhutan. International Journal of Innovative Technology and Exploring Engineering (IJITEE).
          8 (11S2), September 2019. ISSN: 2278-3075.
        17. Shad Ahmad Khan, PP Sharma, Prabha Thoudam (2019). Role of attitude and entrepreneurship education towards entrepreneurial orientation among business students of Bhutan. International Journal of Recent Technology and Engineering (IJRTE). 8 (3S), October 2019. ISSN: 2277-3878.
        18. E Haridev Singh, Shad Ahmad Khan, Prabha Thoudam PP Sharma. Pasang (2019): Factor affecting the choice of cheese in Bhutan: A choice architecture perspective. International Journal of Engineering and Advanced Technology (IJEAT). 8(5), 1880-1888 ISSN: 2249-
        19. Madan Gurung (2020). Socio-Economic Impact of Cordyceps Collection on Cordyceps Collectors in Sephu Gewog of Bhutan. International Journal of Innovative Science and Research Technology.4(10). ISSN No:-2456-2165.
        20. Chencho Wangchuk, Chokey Wangchuk, KezangChoki&DorjiDrakpa (2019). Challenges of Implementing Life Skills Education in Schools in Punakha: A Qualitative Research. Rabsel, the CERD Education Journal (Paro College of Education). Vol.20 Issue-II, Autumn 2019.ISSN: 2077-4966
        21. Dhanapati Sharma, Sonam Wangmo, DhimNarayaDital, GumanDhojWakhley& Tshering Dorji. A Survey on Reading trends and reading competency of Bhutanese children in pre-primary level. Rabsel, the CERD Education Journal (Paro College of Education). Vol.20
          Issue-II, Autumn 2019. ISSN: 2077-4966

        Peer-reviewed Publications (July 2020-June 2021)

        • Wangchuk, C., Wangchuk, N., Sharma, D., & Dorji, P. (2020). Reading Habits of Freshmen of Gedu College of Business Studies. Asian Journal of Advanced Research and Reports, 1-9.
        • Wangchuk, N. & Sharma, D. (2020). A thematic analysis of the novelette Dawa: the story of a stray Dog in Bhutan. Journal of English Language and Literature 7 (1), 86- 92. doi:10.333329/joell.7.1
        • Rathore, A. (2020). Household decision-making power based on income and marital status: a study of Chukha district of Bhutan. International Journal of Sustainable Society12(4), 342-354.

        Household decision-making power based on income and marital status: a study of Chukha district of Bhutan: International Journal of Sustainable Society: Vol 12, No 4 (

        • Dorji, P., Gyeltshen, C., Sanyasi, G. D., Sithub, P., Dema, T., Yangzom, ., & Choden, Y. (2020). The Impact of Early Child Care and Development Education on Cognitive, Psychomotor, and Affective Domains of Learning. Asian Journal of Education and Social Studies12(1), 29-38.
        • Dawala, Drakpa, D., & Loday, S. (2021). An assessment of faculty’s happiness in terms of time use at the workplace. Bhutan Journal of Business and Management, 4(1), 1-22.
        • Ratna, R., Sharma, PP., Khan, S.A., Dema, S., &  Rasaily, B.B. (2021). Competency Evaluation for Training Needs Identification of Faculty at Gedu College of Business Studies. Bhutan Journal of Business and Management, 4(1), 23-42.
        • Gautam, K.P., Sharma, P.P., & Pradhan, M.S. (2021). Employees’ Perception about Female Leadership in Government and Corporate Sectors: A Contextual Study of Bhutan. Bhutan Journal of Business and Management, 4(1), 43-60.
        • Wangpo, K. & Wangmo, S. (2021). Entrepreneurial Characteristics amongst University Students (RUB) in Comparison with Established Entrepreneurs of Bhutan. Bhutan Journal of Business and Management, 4(1), 82-109.
        • Sharma, D., Yeshey, T., Lhamo, U., Dorji, T., Chophel, T., Chezom, U., & Yuden, T. (2021). Salesmanship Qualities of Retailers: Customer Perception in the Context of Thimphu, Bhutan. Journal of Business and Management, 4(1), 110-122.
        • Narayanan, S.K., Ligori, A, A., & Raj, J. (2020).  Visualization Analysis of Numerical Solution with 32 x 32 and 64 x 64 Mesh Grid Lid-Driven Square Cavity Flow. International Journal of Innovative Science and Research Technology, 5(9), 652-656. 
        • Narayanan, S.K., Ligori, A. A., & Soundarraj, J.R. (2020). Stream Function – Vorticity Flow in Lid-Driven Square Cavity: Computational and Visualization Analysis with Fine Mesh Grid, International Journal of Innovation Science and Research Technology, 5(12), 318-330. 
        • Mathews, J & Ligori, A. A (2020). Cultivating Intellectual capital for Competitive advantage, In G Vani, S Sruthi, M. G. Babu& Badruddin (Eds.), Business management practices emerging trends Vol. III, (pp.134-140) A & E Publishing House, Bangalore, ISBN: 978-81-947738-5-6.

        Cultivating Intellectual Capital for Competitive Advantage by Jose Mathews, Antony Alphonse Ligori :: SSRN

        •  Phuntsho, T. & Ramakrishnana, P. (2021). A Study on The Acceptance Level Of The E-Filing System By The Taxpayers In Bhutan. Universal International Journal of Interdisciplinary Research. Vol 1(10). P.123-135. 17-UIJIR-21128.pdf
        • Wangchuk, C., & Dorji, J. (2020). Teacher Attrition: The Former Teachers’ Perspectives in the Bhutanese Context. Asian Journal of Education and Social Studies, 32-41.Teacher Attrition: The Former Teachers’ Perspectives in the Bhutanese Context | Asian Journal of Education and Social Studies (
        • Wangchuk, C., & Wagnmo, C. (2021). Reading attitude of students of a middle school and effects of a two-year in-class reading intervention in them in Bhutan Journal of Research and Development (Bjrd). Vol 10(1)
        • Sharma, P.P., Khan, S.A., & Thoudam, P. (2020). Perception of banking products among people: Evidence from Bhutan. Delhi Business Review. 22 (1). ISSN:(Print) 0972-222X :: ISSN (Online) 2277-7725.  Journal Press India
        • Sharma, P.P.,Chophhel, T.,Dhakal, H.N. Gautam, K.P.,Dhakal, K.N. & Ratna, R. (2021). Financial literacy among Bhutanese: A Study from the perspective of rural and urban residents of Bhutan. International Journal of Advance and Innovative Research.8(1). January to March, 2021.
        • Ratna, R., Dhakal, H.N., & Dhakal, K.N. (2021). Impact of Online Teaching Learning on Academic Performance: Students of B.Com. in Bhutan. International Bilingual Peer Reviewed Refererred Research journal (Shodh Sarita), 8(29)
        • Basu, P., & Basu, R. (2021). Effectiveness of Online Teaching Offered by The Faculties of The Royal University of Bhutan-A Study from The Faculty Perspective. The Management Accountant Journal56(3), 98-102.
        • Khan, S.A., Devi, T.P., Ligori, A.A & Saleem, M. (2020).  Customer Satisfaction and Customer Loyalty in Online Shopping.  Delhi Business Review, 21(2), 11-22. 
        • Narayanan, S.K., Ligori, A.A., & Soundaraj, J.R. (2021).  Lid-Driven Square Cavity: Laminar and Turbulent Flow Visual Results on 32×32, 64×64 and 128×128 Meshgrids.  International Journal of Innovative Science and Research Technology. 6(5), 718-724.
        • Lhamo, T., Wangchuk, K., Choden, U,, Biswa, S., Lhamo, T., Wangchuk, T., &  Yangdon (2021). Impact of Organisational Politics on Employee Satisfaction: A Case of GCBS. Bhutan Journal of Business Management, Vol.4(1), p.82-109. Bhutan-Journal-of-Business-and-Management-BJBM-Volume-4.pdf (
        • Suresh, N., Ligori, A.A., Khan, & S.A. (2021). Analyzing the financial health situation of Penden Cement Authority Limited using selective Prediction Models: An Experiential Survey.  Devi Ahilya University Journal of Social Sciences and Humanities, 3(4),1-10.

        BOOK Chapter  

        1. Tshering Lhamo, Kinley Yangdon, Kinley Wangchuk, and Thinley Choden (Nov. 2020). The Impact of Knowledge Management on Organizational Performance: A Case of RUB Colleges (chapter 4) Reaching New Heights Through Policy Research and Practice, Thimphu, iGHNaS. E-BOOK_FOR_LAUNCH.pdf (
        2. P. Ramakrishnan (2020). Brand Preference of Soft Drinks in Coimbatore District (chapter 3). The “New Normal” in Management, Social Sciences, & Economic Development.  Page 26. ISBN: 978-93-89298-79-6   
        1. Khem Prasad Gautam and Kinga Wangpo (16-12-2020). Book Chapter- Encouraging classroom participation: The effectiveness of students’ preferred styles

        Note: This chapter was published in the book titled Bhutan: Ways of Learning and Teaching by Frank Rennie and Keith Smyth from the University of Highland and Islands.

        • Tenzin Rabgay (Copy Editor/Author), and Kinley Yangdon (Co-Author) (2020).  Business and Entrepreneurship Text (class-XI), Royal Education Council, Bhutan.

        Rinchen Dorji (Co-Author), 2020. Economics (Class X), Royal Education Council, Bhutan. ISBN: 978-99936-0-494-5

        (b) Books/Book Chapter/s Publication 2019-2020

        1. Sonam Wangda and Tenzin Phuntsho (July 2019): Students’ Guide to
          Corporate Income Tax. TMT Printing Press. ISBN: 978-99936-33-94-5
        2. Purnandu Pasu and Gaganjot Kaur (2020): Designing Cost Effective
          Sustainable Products. Global Summit 2020, The Institute of Cost
          Accountants of India. (e-book- chapter, without ISBN) – book chapter
        3. Status, Challenges, and Prospects of E-Commerce in Bhutan: A case of
          Bhutanese Tourism Industry, 2019 – E. Haridev Singh, Madan
          Gurung, Dawa Drakpa, & Yeshi Tshering
        4. Rinchen Dorji (Co-Author),2019. Economics (Class-IX), Royal
          Education Council: ISBN:978-99936-0-477-8
        5. Kinley Wangchuk (Co-Author)/Copy-Editor (2019). Accountancy for
          Class XII, Royal Education Council, ISBN:978-99936-0-464-8.

        (c) Annual Reports and Newsletters

        The college also supports other general publications such as annual or semi-annual reports, news reports on the major college events, and literacy-related papers by the staff and students. The newsletter publication includes GCBS Chronicles, Gedu Voice, and Anthology of Poems, among others. 

        • Annual Report 2019-2021
        • GCBS Chronicles
        • GCBS Voice

        (d) Project Reports and Policy Brief

        • Green Kitchen Case & Policy Brief