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The impact of ESG inclusion on price, liquidity and financial performance of Indian stocks: Evidence from stocks listed in BSE and NSE ESG indices
In recent years, investors have perceived that Environmental, Social, and Governance (ESG) practices significantly increase the value of companies' stocks. This study investigates the impact of ESG inclusion on the price, liquidity and financial performance of stocks listed in the Indian ESG indices. Two major Indian benchmark ESG Indices, the BSE100 ESG and Nifty 100 ESG, were considered for the study. A total sample of 64 firms from the BSE100 ESG index and 86 firms from the Nifty100 ESG index were selected. The market model of the event study methodology was employed to measure AAR and CAAR and to demonstrate the effect before and after the inclusion of the stocks in the ESG indices. The empirical results show a highly significant negative AAR on the announcement day, i.e., on (day = 0) for BSE100 ESG index stocks and an insignificant positive AAR for Nifty100 ESG index stocks. In addition, the results also document a significant negative CAAR for BSE 100 ESG stocks and a positive insignificant CAAR for Nifty100 ESG stocks. Moreover, the liquidity test results revealed a considerable liquidity enhancement in the stocks posts their inclusion in the BSE100 ESG. At the same time, there were no significant changes in the liquidity ratio of stocks after being included in the Nifty100 ESG index. This study concludes that there will be a substantial improvement in the companies' financial performance as indicated by EPS and market capitalization after their inclusion in the ESG indices. Suresha B., Srinidhi V. R., Dippi Verma, Manu K. S., Krishna T. A., 2022. -
The impact of eco-innovation ongreen buying behaviour: the moderating effect of emotional loyalty and generation
Purpose: This study intends to contribute to the literature of eco-innovation by examining the pro-environmental intentions and behaviour among consumers through their understanding of eco-innovation. Thus, the relationship among eco-innovation, general pro-social attitude, generativity, environmental concern, purchasing intentions and buying environmentally friendly products and the differences of the relationship between high and low emotional loyalty and Generation Y and Z were investigated via structural equation modelling (SEM). Design/methodology/approach: Data were collected through an online questionnaire directed to Indian consumers, and analysis was done through partial least square structural equation modelling (PLS-SEM) in two stages, i.e. measurement model and structural model. Findings: Results confirm the relationships established in the proposed model, and some differences were found between the levels of emotional loyalty and the Generations Y and Z. The research shows that individualistic norms and perceived marketplace influence play a purposeful role in transforming environmental concerns into buying behaviour towards eco-innovation-driven products. Practical implications: From a policy and management perspective, the results not only imply the importance of continuous performance and environmental improvement but also those policies hindering diffusion and adoption need to be addressed. Green buying is an elusive task but can be opportunely attained by marketers by adding elements of eco-innovations and understanding mindsets of consumers to create winwin situations for themselves and consumers. Originality/value: The results reinforced that emotional loyalty and Generations Y and Z vitally impact consumers' green buying decision within the framework of eco-innovation and cognitive factors. 2022, Emerald Publishing Limited. -
The Impact of Digital Marketing Strategies on Customer Attitude and Purchase Intention Towards Electronic Gadgets: A Study on Indian Students
A portion of a companys long-term strategy should be devoted to digital marketing transformation. It is a challenging task to select the effective marketing strategy when conducting business in modern digital world. This study seeks to elucidate the influences of digital marketing strategy forms on customer attitude and purchase intention of students towards electronic gadgets. The relationship between four digital marketing strategies such as search engine advertising, social media, content marketing and email marketing towards customer attitudes and purchase intention was investigated in accordance with hypotheses, 225 students from Bangalore city, India, who had experience in online purchase of electronic gadgets comprised as a research sample. The relationship among the selected variables are tested with help of Correlation, ANOVA and regression analysis. The study conclude that there is an impact of various forms of digital marketing strategies on customers attitude and the purchase intention of young (Students) customer. The Author(s), under exclusive license to Springer Nature Switzerland AG 2025. -
The impact of Covid-19 on the capital structure in emerging economies: evidence from India
Purpose: Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis. Design/methodology/approach: The study utilizes three leverage ratios in an extended market index, BSE500, for the period 20152021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (20152019) and pandemic (20202021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity. Findings: The findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty. Research limitations/implications: The study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid. Practical implications: To maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival. Originality/value: Developing countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival. 2022, Nisha Prakash, Aditya Maheshwari and Aparna Hawaldar. -
The impact of Covid-19 on global upstream and downstream supply chain management activities
COVID-19 pandemic has affected thousands of people worldwide; with significant economic changes in the past and to the changes to be made for future. Many organisations especially; The Intergovernmental economic organisation (OECD - The Organisation for Economic Co-operation and Development) warned the companies and industries on the global economic cut, the corona virus will be boarding. The global economy and international markets pitched down with the spread of corona virus spreading from China which is the world's second largest economy to other countries including Asia; Europe; Australia; Europe; America and the Middle East. Many economies came up with many policies to prevent the further spread of this virus; including restrictions on travel and quarantines; which has disrupted international supply chains affecting a lot of business operations and dwindle revenues. About 75 percent of business including Wholesale; Manufacturing; Retail and Services in China and about 51,000 companies have this impact at a global level according to data from Dun and Bradstreet. The success or failure of every Business depends on how well they manage their supply chain management activities. The impact of corona virus on supply chain activities is twofold. One is; Upstream Supply chain management where companies should monitor the backward integrated activities in procuring the inventory; which has accommodated a loss in the production because of closure of factories and a slowdown in the economy. Second is; Downstream Supply chain management where the intermediaries and middlemen face a lot of problems because of scarcity in inventory and many quarantine measures taken by many economies. Many disruptions in both Upstream and Downstream Supply chains lead to severe scarcity of inventory which was experienced globally by all the economies. This situation has made many economies to think of the inter connectivity and inter dependency among global nations in terms of supply chain. This article is aimed to highlight the effects and changes COVID-19 pandemic has brought in the supply chain industry from both Upstream and Downstream perspective. 2022 Author(s). -
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The Impact of corporate governance and capacity utilization on zimbabwe aviation industry
The study investigates the impact of corporate governance and capacity utilization on Zimbabwe Aviation industry, focusing on Air Zimbabwe Holdings. The study examined and newlinecritically analyzed the governance process and level of capacity utilization of the aviation industry in Zimbabwe. The major objectives of the study were to analyze the impact of failures and weaknesses of corporate governance on Air Zimbabwe Holding and to measure the extent of capacity utilization in Air Zimbabwe Holding and its impact on the unit cost of service. The study utilized mixed method where both quantitative and qualitative research methods were combined in the research design. The research philosophy is rooted in both positivism newlineand Interpretivism. The philosophy accommodates the realist ontology and interpretivist. Quantitative approach was used because of its easiness in data analysis. Qualitative method was also used because of its in-depth approach in understanding phenomena under study. The population of this study constituted the board of directors of Air Zimbabwe, the owner newlineand the executive management. The population was considered given the nature of the study newlinethat is corporate governance. The research used questionnaires and interview techniques in collecting primary data. Secondary data was derived from different search engines, books and company periodicals. The research instruments, questionnaires were tested for reliability using Cronbach s Alpha at coefficient of 70. Content analysis of secondary data was used to define a check list of qualitative variables on corporate governance. The hypothesis was tested by means of Analysis of variance. The Statistical Package for the Social Sciences (SPSS) version 20 was used to analyse newlineprimary data. The SPSS was used to create a code book that enabled different scientific tests to be carried out. Frequency analysis was run in order to clean the data.ANOVA inferential statistics in the form of p-values for each of the independent variables was performed. -
The Impact of Computer-Mediated Communication on Relationships and Social Interactions
Computer-mediated communication (CMC) has profoundly changed how we express or connect in the modern world. Various virtual platforms, like Instagram, WhatsApp, and online games, have transformed how we communicate, and there is an overlap between the virtual and the physical world. This reflective study uses a comprehensive literature synthesis to examine the transforming nature of CMC on relationships and socialization patterns. The findings emphasize the importance of a holistic approach to understanding technology in interpersonal communication. Through this study, we attempt to mitigate the potential harms of excessive internet use through digital literacy, reflecting on online interactions and mindfulness in using the medium, especially for school-age children. The main takeaway from this reflective research is that when using technology for communication, one should practice equality and fairness across the board. Both the real and virtual worlds operate on the same principles of similarity and social exchange to create relationships, even though these theories are based on traditional offline relationships. 2024 Taylor & Francis Group, LLC. -
The Impact of Changes in Monetary Variables on Stock Prices of Commercial Banks in India
Commercial banks in India, as agents of the reserve bank of India, are key players in the implementation of exchange rate and interest rates and have huge role to control the inflation in the country. The purpose of this study is to examine impact on banking stocks because of frequent changes in important monetary variables. The concern is whether or not current economic indicators, as reflected in interest rates exchange rates and inflation, can explain banking stock returns. This study considered NSE bank nifty index as banks stocks representative because this bank index consist of all major banks listed in the Indian capital market The explanatory variables in this study considered the three important monetary variables namely foreign exchange rates ,long-term interest rates and inflation rates. This paper tries to find the impact of changes in monetary variables on bank nifty. Also the relationship (long run and short run) between bank nifty and monetary variables has been analysed. Different econometric tools have been applied in the study to attain the objectives. The econometric tools like unit root test, ordinary least squares, Johansen-Juselius (1990) Multivariate Co integration test and Vector error correction model (VECM). Based on the unit root test, it is found that all the variables are used in the study are non stationary at level and become stationary at first differences. Johansen cointegration test prove that there is long run relationship between bank nifty and three monetary variables. Based on the result of Ordinary least squares on vector error correction equation this study find that monetary variables have significant impact on bank stock return, but major portion of the bank nifty movement is explains by its own innovations. And also this study find that changes in foreign exchange rates and long term interest rates are affecting the bank nifty movement negatively. But the whole sale price index or inflation rates does not affect the bank nifty or banks stock price movement significantly. Among the three monetary variables are used in this study foreign exchange rates have high influence on bank stock prices. -
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The impact of audit committee independence and competence on investors investment decision making: A study in the Indian context
This study examined the impact of an independent and competent audit committee on the decision-making process of investors in the Indian capital market and adopted a quantitative approach in which cross-sectional data are gathered with the help of a self-administered questionnaire survey. The selection of participants involves a stratified random sample technique, specifically targeting 441 regular investors associated with nine prominent brokerage houses in the Delhi NCR engaged in equity market investments. Descriptive analysis is applied to discern respondent characteristics, whereas correlation and regression analyses are utilised to test and elucidate the relationships and influences among variables in the model. The findings of this study, which indicate a notable correlation between investors' investment decision-making in India and the independence and competence of the audit committee, are in line with the expectation that independence and competence are essential attributes that the audit committee must possess. These characteristics, in turn, have a notable influence on investors' investment decisions. The outcome of this paper fills a gap in the literature by offering insights into the vital attributes of audit committee independence and competence that notably contribute to investment decision-making in India. This research examined the impact of an independent and competent audit committee on the decision-making process of investors in the Indian capital market, which has never been examined before. Thus, the findings shed light on the influence of board independence and competence on the decision-making process of investors in the Indian capital market. 2025, Malque Publishing. All rights reserved. -
The Impact of Artificial Intelligence on Digital Employee Engagement
Purpose: This study aimed to investigate the impact of artificial intelligence (AI) on digital employee engagement, focusing on the roles of job autonomy and digital learning orientation. It sought to understand how these factors influenced employee engagement in a digital environment and the extent to which the meaningfulness of work mediated these relationships. Design/Methodology/Approach: Data were collected from 527 individuals performing administrative jobs in the private service sector. The study utilized partial least squares structural equation modeling (PLS-SEM) to test the proposed relationships among job autonomy, digital learning orientation, and digital employee engagement with mediation of meaningfulness of work. Findings: The findings indicated that job autonomy and digital learning orientation significantly and positively predicted digital employee engagement. However, the meaningfulness of work did not mediate the relationship between job autonomy, digital learning orientation, and digital employee engagement. The results of this study found that there was no significant relationship between the meaningfulness of work and digital employee engagement. This study also found that when the employees used digital tools, they often experienced feelings of loneliness and insecurity. Practical Implications: The study suggested that the organizations role should always be focused on promoting digital tools. Organizations should emphasize enhancing job autonomy and encourage employees to engage in digital learning orientation, boosting digital employee engagement in the workplace. Originality/Value: This study contributed to the literature considering the role of AI applications that directly influenced digital employee engagement by addressing the significant roles of job autonomy and digital learning orientation. It also emphasized the need for future research to explore the impact of the meaningfulness of work and the dependence on digital tools for employee performance. 2024, Associated Management Consultants Pvt. Ltd.. All rights reserved. -
THE IMPACT OF ADVERTISING ON CHILDREN
Advertising is a pervasive influence on children. Young people watch more than 40, 000 advertisements per year. Advertisements are basically to sell a product. Advertisements are everywhere, televisions, internet, newspapers and magazines etc??This study is about the impact of few selected advertisements on children. The target age groups are from 3 to 17 which would be divided into three groups. Five ages per group. Group 1: age 3 to 7, Group 2: age 8 to 12 and Group 3: age 13 to 17. Each of these age groups are affected in different ways. Some are effected mentally, and some physically. But these effects would not take effect immediately; it would take effect as the child grows. This is because no matter how the advertisements are made, most of the children never understand the effects on the advertisements and since they like the creativity in the advertisements they actually consume the product. No matter what the product is, let it be from a chocolate to an electronic product like an Air Conditioner. It is said that children from the ages of 3 to 7 are found to be more interested in toys and 8 to 12 are interested in food that no matter how the food is and how it tastes they would force their parents to buy them the product. And the children in the ages between 13 to 17 prefer shopping for themselves, this could be because they start to have a mindset that they have become ??teenagers??, they prefer buying clothes, cosmetics, electronic gadgets (mobile phones, iPods, and watches). -
The Impact and Inheritance of Operating Leverage: A Study with Two Pharmaceutical Companies
International Journal of Management Research and Technology, Vol-7 (2), pp. 145-154. ISSN-0974-3502 -
The illusion of social class identity and academic performance: Exploring the role of father education as an indicator of socioeconomic status
The academic achievement of low social class students has been attributed to lack of ability and their socioeconomic Status (SES). However, a recent meta-analysis reported decreasing relationship between SES and academic achievement in the U.S. population (Sirin, 2005). The present study attempted to explore the relationship between social class identity processes and academic performance in an Indian context. The study took students' self report on all indicators of SES and separated high and low social class students on the basis of their fathers' education. The result showed that social class based identity process has less important role in explaining the existing academic achievement gap. Thus the need arises to explore other identities that may collaborate with the social class identity in an educational domain. -
The Illiberal turn in Indian democracy: shifting the trajectory of Indias foreign policy
Long-standing democracies such as India were not exempt from the global trend of democratic retreat. India has come under increasing international attention due to certain domestic policies such as the revocation of Article 370 of the Indian Constitution, the National Register of Citizens and Citizenship (Amendment) Act passed under the Bharatiya Janata Party government. In addition to Indias democratic decline being reflected in global democratic rankings, this has induced strains on Indias foreign relations. In its pursuit of becoming a leading power, Indias perceived democratic backsliding is likely to influence the direction of its foreign policy. To discern the impact of its perceived illiberal turn on its foreign engagement, the role of democracy in Indias foreign policy needs to be explored. While attempts have been made to understand democratic backsliding through a theoretical lens, the impact of a nations democratic status on its foreign relations and policy remains a largely unexplored area. 2023 Taylor & Francis. -
The hype of the hybrid on work culture compatibility
In the wake of the pandemic, a new working model known as the "hybrid model" has emerged, combining the advantages and disadvantages of both "on-site" and "work from home" cultures to create a balance between the two worlds. This study conducts an in-depth survey of the merits and demerits of diverse working cultures among employees at various hierarchy levels in different industry sectors. Based on the assortment of over 350 white-collar employees working across India in the cultures mentioned earlier, it has been observed that the hype of the hybrid is justified. The study discovered that the majority of the workforce favors the hybrid model, providing the perfect balance between work and personal life. However, this new blend needs to have a better cognizance and acceptance from both the employer and the employee perspectives. The insights would set a benchmark for companies and employees to develop a plan of action. 2023, IGI Global. -
The Hubble tension: Change in dark energy or a case for modified gravity?
Recently, much controversy has been raised about the cosmological conundrum involving the discrepancy in the value of the Hubble constant as implied by Planck satellite observations of the CMBR in the early Universe and that deduced from other distance indicators (for instance using standard candles like supernovae, tip of the red giant branch, etc.) in the present epoch. The Planck estimate is about 67km-1Mpc-1, while that deduced from distance indicators at the present epoch is around 73-74km-1Mpc-1. Also the independent determination of the local value of the Hubble constant based on a calibration of the tip of the red giant branch and applied to Type Ia supernovae found a value of 69.8km-1Mpc-1. Here we propose a modification of the gravitational field on large scales as an alternate explanation for this discrepancy in the value of the Hubble constant as implied in the above-mentioned method, i.e., by Planck observations of the CMBR in the early Universe, and that deduced from other distance indicators in the present epoch. 2021, Indian Association for the Cultivation of Science. -
The hope and the dilemma of the urban poor /
Economic Political Weekly, Vol.53, Issue 40, pp.40-46, ISSN No. 0012-9976. -
The hope and the dilemma of the urban poor
A common view about economically weaker sections and lower-income groups in India is that they live in slums because they cannot afford to buy or rent decent accommodation in the formal market. However, some can pay a monthly rent and/or for the services such as garbage disposal and water, but they, and others who can afford to buy, are deterred by institutional constraints. Many slum households face a dilemma: opting for better and more secure living conditions would mean losing some of the advantages of living in a slum and the possibility of a free home. 2018 Economic and Political Weekly. All rights reserved.