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Does Credit Rating Revisions Affect the Price of Common Stock: A Study of Indian Capital Market
The current investigation aims to assess the effect of credit assessment changes on the share prices of Indian companies from 2009 to 2019. The data of top 100 companies listed on National Stock Exchange (NSE) across 10 industries stem from CMIE databases. The excess stock return is compared with the market in a 15-day window around credit rating changes. The event effect on share prices is more in the pre-event window compared to the post-event window. Positive abnormal stock returns around upgrades through downgrades are statistically significant compared to upgrades. Credit ratings are not significant across industries, and agency nationality is a critical factor for calculating the intensity of price reaction. 2021 K. J. Somaiya Institute of Management. -
Does Cultural Intelligence & Emotional Intelligence Differ by Region in India? A Comparative Study; [??????????? ?? ?????????? ? ????????????? ?????????????? ? ???????? ?????? ????????????? ????????????]
Students from various parts of India periodically migrate to universities for academic and professional reasons. They reflect various cultural diversities and have to overcome obstacles like intergroup prejudice and acculturative stress. Although these factors can differ by region, the response tendency may be influenced by their respective cultural intelligence/quotient (CQ) and emotional intelligence/quotient (EQ). The comparisons of CQ and EQ across students from significant regions of India, however, have never been recorded in a prior study. This study attempted to examine the level of CQ and EQ among students who were enrolled in educational institutions in Kalaburagi City, who belong to three major regions of India (North, South-East, and South-West). A total of 385 students between the ages of 18 and 31 (mean age: 20.56; standard deviation: 2.633) were recruited for the study. Surprisingly, there were significant geographical disparities in the use of emotions and metacognitive CQ. Compared to students from the other two regions, students from the south-eastern area performed better while using emotional EQ and scored less while using meta-cognitive CQ. The study deduced the plausible factors and potential explanations for CQ EQ disparities and inter-regional acceptability among students from three major regions, which may be used to develop a CQ & EQ training program for usage across Indias educational system 2023, Cultural-Historical Psychology.All Rights Reserved. -
Does energy transition reduce carbon inequality? A global analysis
Energy transition from fossil fuels to renewables is instrumental in mitigating climate change. Low-income countries have a higher share of renewable energy in their total energy consumption than rich countries (WDI, 2023). Thus, it is imperative to examine the role of energy transition in affecting relative CO2 emissions between rich and poor sections of the societies across income groups of the countries. In this context, our study contributes by constructing the carbon inequality models with renewable and non-renewable energy consumption as prime explanatory variables separately for 114 countries over a data period 19902019. The models are estimated individually for high-middle-low-income countries by controlling for foreign direct investment (FDI), economic growth, and innovations. Starting with preliminary econometric operations, we employ the dynamic simulated panel autoregressive distributed lag approach and Driscoll-Kraay standard error regression for empirical investigation. We find that energy transition reduces carbon inequality globally. Innovation has a negative impact, economic growth has a positive impact on carbon inequality, and FDI has an asymmetric impact based on the income level of the countries. The crucial global policy implications are discussed. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2024. -
Does environmental policy stringency improve nature's health in BRICS economies? Implications for sustainable development
In our groundbreaking exploration, we meticulously delve into the relationship between environmental policy stringency, international trade dynamics, and financial openness within the BRICS group (Brazil, Russia, India, China, and South Africa) spanning from 1996 to 2021. With a focus on critical variables such as economic growth and technological innovation, our empirical findings challenge conventional wisdom. Surprisingly, we found that those stringent environmental policies, when standing alone, do not invariably lead to reduce CO2 emissions. Equally interesting is our startling discovery that the anticipated moderating influence of environmental policy stringency, catalyzed by trade and foreign direct investment, on the well-being of our environment does not materialize; contrarily, both trade and foreign direct investment moderating channels exhibit unanticipated positive correlations with CO2 emissions. These revelations provoke us with the presence of a "pollution haven" phenomenon within the BRICS economies. Furthermore, our investigation reveals that, when examined individually, trade and foreign direct investment also appear to contribute to elevated emission levels. These findings provide a resolute solution to our research quandary, underlining the indispensable requirement for cutting-edge and robust environmental policies. These policies must possess the prowess to effectively counteract the adverse environmental consequences stemming from the amalgamation of global trade and financial integration. In doing so, they shall propel BRICS nations toward a future firmly grounded in principles of sustainability and ecological integrity. 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature. -
Does environmental reporting ofbanks affect their financial performance? Evidence from India
Purpose: The present study aims to investigate the effect of environmental reporting on the financial performance of banks in India. Design/methodology/approach: The study is based on the secondary data. The sample includes the banks listed in the NSE Nifty Bank Index from 20162017 to 20202021. The environmental reporting data was obtained through the content analysis technique. The financial data was collected from the CMIE Prowess database. Panel regression analysis was used to analyse the data. Findings: The findings indicate a negative significant influence of environmental reporting on the ROA and ROE of banks. On the other hand, environmental reporting does not significantly influence the EPS of banking institutions. Originality/value: To the best of the authors knowledge, this study is the first to contribute to the scarce literature on the influence of environmental reporting on financial performance, pertinently in the context of a developing nation's banking sector. 2023, Emerald Publishing Limited. -
Does ESG Integration Enhance Financial Performance in Emerging Economies? A Systematic Review of Brics
A growing wave of environmental and social problems is driving the world's focus on sustainability, and the UN's creation of the Sustainable Development Goals (SDGs) and ESG-focused investments are giving this movement a strong push. Today, investors consider ethical and moral principles coupled with monetary factors. ESG, which stands for Environmental, Social, and Governance, is a set of factors used to judge how well a company runs. These factors look at how the company protects the environment, treats its workers and society, and manages itself fairly and effectively. The present study is a systematic literature review of ESG and its influence on the firm financial performance of BRICS nations. The majority of the existing literature places focus on ESG in the developed world and this study aims to bridge this divide by focusing on Emerging economiesBRICS. The majority of the studies reveal a positive association between ESG and firm financial performance. The findings reveal the primary financial variables that affect ESG performance in BRICS countries such as firm size, debt ratios, weighted average cost of capital, return on equity (ROE), return on capital (ROC), Returns on Sales (ROS), Return on Assets (ROA), transparency levels, and financial leverage. Various theories such as Long-term gains, Institutional theory, Stakeholder theory, and Legitimacy Theory have laid the foundation for the research in the area. The review highlights the need for uniform ESG frameworks and enhanced disclosures to foster responsible investment practices in emerging economies like BRICS nations, providing valuable insights for companies, investors, and regulatory bodies. The Author(s), under exclusive license to Springer Nature Switzerland AG 2025. -
Does fdi intensify economic growth? Evidence from china and India
[No abstract available] -
Does financial inclusion control corruption in upper-middle and lower-middle income countries?
Presence of corruption in a system is always a path breaker for transparent distribution of public services in the economy. Therefore, controlling corruption is a high priority for progress of a countrys growth. The main objective of this study was to empirically examine the impacts of financial inclusion on control of corruption in selected upper-middle and lower-middle income countries. Using cross-country annual data from 2004 to 2018, the study applied fixed effect, random effect, panel corrected standard errors, feasible general least square and 2SLS (two-stage least-squares regression) models to evaluate the impacts of financial inclusion on control of corruption across all samples from upper-middle and lower-middle income countries. The results from the upper-middle income (UMI) countries demonstrated that a basic level of financial inclusion has no impact on the control of corruption, whereas higher intensification of financial inclusion beyond the basic level positively impacts it. Similarly, the findings from lower-middle-income (LMI) countries indicated that financial inclusion up to a certain threshold level helps to control corruption, whereas financial inclusion above the threshold level negatively impacts the control of corruption. These empirical findings suggest that in the overall sample, financial inclusion plays an important role to control corruption. 2022, The Japan Section of the Regional Science Association International. -
Does gamification affect customer brand engagement and brand value co-creation?
The study examines the relationship between gamification and customer brand engagement, focusing on its impact on brand value co-creation. It analyzes various studies published between 2013 and 2023, revealing that gamification positively influences brand engagement by fostering active participation, emotional connections, and increased motivation. It also facilitates brand value co-creation by encouraging consumers to actively contribute to brand development, innovation, and advocacy. Design considerations like game mechanics, aesthetics, and personalized experiences are crucial for maximizing gamification's impact on customer engagement and brand value co-creation. The review identifies potential moderating factors, such as consumer characteristics, cultural differences, and industry-specific dynamics, which may influence the effectiveness of gamification strategies. 2023, IGI Global. All rights reserved. -
Does Gender and Family Income Impact Stock Trading of B-School Students? Findings from a Stock Simulation Exercise
Educators across the globe utilize online stock market simulation games to introduce students to trading in the stock market. The primary objective of the simulation exercise is to expose students to the practical application of financial theories on fundamental analysis, stock selection, building an optimal portfolio, monitoring the risk-return characteristics and continuously improving the portfolio based on changing realities. This article utilizes the trading data from a simulation exercise conducted by a leading B-school in India. The exercise was conducted as part of Security Analysis and Portfolio Management (SAPM) course offered by the B-school. The objective of the article is to understand the role of gender and family income in the trading patterns of students in the simulation exercise. The article covers 163 students who were part of the simulation exercise in 2019. The results indicate that male students trade more aggressively than female students, both in terms of number of trades and the number of companies traded. However, the female students reported higher stock trading performance, measured in stock returns. This is observed to be true at all the quartiles, with the largest magnitude of the difference in the mid-quartiles. The study also indicates that the students from wealthier families perform better than those from poorer backgrounds. However, family income is an insignificant differentiating factor. Further, regression analysis indicates that gender is a significant determinant of stock returns. Based on these findings, the authors argue that gender has a significant role in the stock trading performance of B-schoolers. The article contributes to the field of behavioural finance, especially on the literature of gender and performance in financial markets. 2022 Management Development Institute. -
Does geopolitical risk alleviate the sticky cost behavior of firms? Evidence from India
This study explores how geopolitical risk (GPR) affects the sticky cost behavior of firms. Using a piecewise linear regression analysis on 11,180 firm-year observations from India for the period 20112020, we discover that GPR reduces asymmetry in the cost behavior of firms. These results imply that GPR incentivizes firms to adopt a more cautious approach to cost management practices in order to mitigate bankruptcy risks. Nevertheless, we find that financial constraints limit the ability of GPR to moderate the stickiness in the cost behavior of firms. The Author(s) under exclusive licence to The Society for Reliability Engineering, Quality and Operations Management (SREQOM), India and The Division of Operation and Maintenance, Lulea University of Technology, Sweden 2024. -
Does Google Trend Affect Cryptocurrency? An Application of Panel Data Approach
Cryptocurrency has emerged globally as the most profitable investment asset of the decade. The media exposure and reportage on cryptocurrency are frequent, and it seems that prices of cryptocurrencies could only rise higher. In today's digital world, any individual's first go-to information-seeking platform is the Google search engine. Thus, it is imperative to understand how Google's search trend affects an investable asset and its market as a whole. Researchers have explored varied sentiment measurement proxies such as news coverage, Facebook and Twitter posts, and, most importantly, Google searches. Numerous research studies show increasing interest in Google search volume and its predictive ability to understand investment returns and economic outcomes. In a behavioural finance context, the present research uses Pearson's correlation and panel regression to examine the association of cryptocurrency returns (Bitcoin, Ethereum, and Ripple) and their varied characteristics with the Google search intensity. The study's findings reveal that investors searching for information on Cryptocurrency online drive the price increase in cryptocurrency and push the trading volume up and increase the volatility of the cryptocurrency returns. Furthermore, investor sentiment has a statistically significant impact on cryptocurrencies' trading volume and weekly volatility in periods of high or greedy investor sentiment. The findings imply that the 'price pressure hypothesis' given by Barber and Odean (2008) as a stock market research finding is also present in the cryptocurrency market. 2023 SCMS Group of Educational Institutions. All rights reserved. -
Does Haryana's SHG Participation Help the Quality of Life of Dalit Women? An Approach Based on Composite Index and Treatment Effect
This study aimed to assess the impact of Self Help Groups and their specific interventions, such as vocational training programmes and the use of loans in productive means, on the empowerment of Dalit women of Haryana. A selected control group from OBCs was studied, and it was shown how the livelihood interventions of Self Help Groups bridged the gap between SC (Dalit) and OBC women beneficiaries. The study selected four districts from Haryana with an equitable distribution of SC and OBC women beneficiaries and 360 respondents with equal distribution of SC and OBC women beneficiaries from Haryana and used a Likert scale data for the analysis. Principal component analysis (PCA) and treatment effects were carried out using the propensity score matching method (PSM), the composite index for women's economic empowerment was inferred, and important empowerment factors were identified in Haryana. Results compared and contrasted the implications for different social groups and districts selected for the study and concluded that Self Help Group interventions significantly affected the women empowerment of both social groups and uplifted the Dalit women beneficiaries to the level of OBC women in Haryana. A large number of training programmes are to be conducted to promote more small businesses and micro-enterprises. 2024, Creative Publishing House. All rights reserved. -
Does integrated store service quality determine omnichannel customer lifetime value? Role of commitment, relationship proneness, and relationship program receptiveness
Purpose: Building on the relationship marketing and stimulus-organism-response (SOR) theory, the purpose of this paper is to study the impact of the integrated store service quality (ISSQ) on the omnichannel customer lifetime value (CLV). The mediating role of customer commitment (affective, normative and continuance) and relationship program receptiveness with the moderating role of customer relationship proneness were relied upon to better understand the omnichannel customer profitability metric (CLV). Design/methodology/approach: The study is descriptive and relies upon the cross-sectional data collected using the self-administered structured questionnaires from 785 omnichannel shoppers. A purposive sampling technique was performed in the study. Structural equation modeling was performed using the SMART-PLS 4.0 software to analyze the data. Findings: The results indicate that omnichannel customer commitment (affective, normative and continuance) differentially mediates the relationship between ISSQ and relationship program receptiveness, subsequently impacting the omnichannel CLV. The customer relationship proneness significantly and positively moderated the relationships between different dimensions of customer commitment and relationship program receptiveness. Research limitations/implications: The study relied upon the cross-sectional data from the Indian population aged above 18years for testing the proposed model. Further studies could test the model across different populations to generalize the study results. Originality/value: This study addresses the need to investigate the omnichannel retail store customer profitability and their relationship performance with the store. By testing the customer relationship management model in the omnichannel retail store context, this study is the first to show that ISSQ will impact the customer profitability and relationship performance metric (CLV) through omnichannel customer commitment and relationship program receptiveness. The moderating effect of customer relationship proneness on a few proposed hypotheses was also tested to give managerial recommendations. 2024, Emerald Publishing Limited. -
Does Packaging Elements Affects Consumers Preference During The Purchase Of Chocolate?
Chocolate is one of the highest consumed products and the packaging of such a product is important. The primary goal of the study is to understand if the packaging of chocolate has an impact on the consumer's preference during the purchase of chocolate. The researcher concentrates on the elements of packaging which are the color of the packaging, shape, and size of the packaging, labeling information on the packaging, and the material of packaging. The study helps the producer to understand what factors on the packaging impacts the customer during the purchase of chocolate. The researcher concentrates on how these elements of packaging play a role in affecting the consumer at the point of purchase of chocolate. Through this study one will be able to deliver the product i.e., chocolate more efficiently and effectively way to the consumers or the buyers. The Electrochemical Society -
Does perceived corporate social responsibility improve customer engagement? - An empirical evidence from Indian banks
In recent years, banks are trying to embed their corporate social responsibility (CSR) and societal outreach initiatives into their strategic process to improve their competitive advantage and performance. A previous study reveals that CSR initiatives and efforts of the banks will likely to positively influence the customers attitudes toward that bank and generate favourable behavioural outcomes. This study will provide a deeper investigation of whether the perceived CSR discriminate against the customer engagement level in the bank. This paper attempts to measure the discriminating power of CSR towards customer engagement. Maignan and Ferrells (2004) scale was used to ascertain the corporate social responsibility, and for measuring customer engagement, the Gallop scale (2001) was used. Primary data was collected through a simple random sampling technique from 612 customers across different banks. The discriminant analysis was carried out to find out the discriminating power of CSR towards customer engagement. Discriminating function model results exactly predicting customer engagement level based on the CSR initiatives. The findings are supportive and helpful for the banks in formulating effective CRM Strategy to satisfy and engage their customer at a high level through effectively articulated CSR plans and policies. 2024 Inderscience Publishers. All rights reserved. -
Does risk management components influence on project success? Evidence from IT sector
All organizations and stakeholders would ideally like to see an information technology (IT) project managed successfully. Many researchers have strongly debated the importance of risk management in project management about the size of the project since it gives project managers a forward-looking view of risks and chances to increase the project's success. The main aim of the study is to determine how risk management parameters and their mediated effects impact the effectiveness of IT projects. Data was collected from 261 IT professionals involved in projects through a structured questionnaire and analyzed using regression and SEM to test their statistical significance and prove the hypothesis. The study arrived at some significant results which showed the relationship of Risk Identification and Risk Analysis on Risk Assessment, which impacts Project Success. It also showed that the success of the project depended on Stake-holders Tolerance and Risk Implementation. In addition to this, the study provides evidence that risk management does not influence the success of the project. The study's discovery of the intervening impact of risk management practices clarifies preconceived conceptions in the risk management sector. 2024 Growing Science Ltd. All rights reserved. -
Does robotic service quality determine robotic restaurant diners engagement behaviors? Role of customer engagement andattachment to the restaurant
Purpose: Robotic restaurants are very novel, and service robots in these restaurants are identified as offering unique advantages in terms of efficiency, tireless service and potentially lower operational costs. However, studying customer engagement with the robots can reveal aspects of robotic service that resonate with diners. Understanding how diners interact with robots can help create a more engaging and enjoyable atmosphere, bringing more business to restaurants. Building on the stimulus-organism-response (SOR) theory and place attachment theory, the purpose of this paper is to study the impact of the robotic service quality (RSQ) on the customer attachment to the robotic restaurant with the mediating role of the different dimensions of the customer engagement, like the Absorptive Attention, Enthusiastic Participation and Social Connection. Subsequently, the impact of the customer attachment to the robotic restaurant on different dimensions of customer engagement behaviors like augmenting, co-developing, influencing and mobilizing behaviors was also studied. Design/methodology/approach: The cross-sectional data from 786 robotic restaurant diners in India who answered the self-administered structured questionnaires is utilized for this descriptive study. The study employed a purposive sampling strategy. The SMART-PLS 4.0 program was used to run structural equation modeling and analyze the data. Findings: The results indicate that customer engagement dimensions like Absorptive Attention, Enthusiastic Participation and Social Connection differentially mediate the relationship between RSQ and customer attachment with the robotic restaurant. Customer attachment to the restaurant and the robotic services subsequently positively impact customer engagement behaviors. Research limitations/implications: The study relied upon cross-sectional data from the Indian population above 18years to test the proposed model. Further studies could test the model across different populations to generalize the study results. Originality/value: This study addresses the need to investigate robotic restaurant diners engagement behaviors. By testing place attachment theory and the SOR framework, this study is the first to show that RSQ will impact the customer attachment with the robotic restaurant and that different dimensions of customer engagement mediate the relationship. It also validates the previous research findings that customer engagement is not a single global construct, and different sub-dimensions are to be explored. This study is also the first to show customer attachment to the robotic restaurant will impact customer engagement behaviors differently. 2024, Emerald Publishing Limited. -
Does Sentiments Impact the Returns of Commodity Derivatives? An Evidence from Multi-commodity Exchange India
The advancements in technology, increased accessibility to various modes and platforms of communication, and increased willingness on the part of participants to share their ideas/opinions has resulted in huge amounts of data on the World Wide Web, hence, easily available to impact decision-making. Furthermore, commodity prices are primarily driven by demand and supply, wherein such news is open to the cognitive thinking of individuals. Thus, using the principles of natural language processing, which combines concepts of linguistics, computer science and artificial intelligence, helps in improving the accuracy of price determination. Therefore, this article aims to examine the relationship between sentiments conveyed through various sources and the performance of Indias largest commodity market, multi-commodity exchange (MCX). The correlation and causation between sentiment scores extracted from such textual content and the daily returns of select commodity derivatives are analysed. The results show varying levels of significance of sentiments on the returns of commodity contracts and imply that there is an increased scope of using such unstructured content in the field of finance. 2021 MDI. -
Does technology drive supply chain visibility? Evidence from the FMCG sector in India
Success and efficiency of today's business depends on many factors across various industries. Among the many factors, supply chain plays a crucial role. The well-functioning of distribution system may lead to customer satisfaction, cost reduction, risk management, competitive advantage, collaboration and integration, innovation and adoptability and sustainability. Adopting technology in supply chain systems is another way of increasing business growth in the present era. The technologies used in today's business organizations are blockchain, internet of things (IoT), cloud technology, etc. To what extent technology is used to improve supply chain visibility in business is a matter of concern. With this background, the study aims to explore the relationship and impact of different technology on supply chain visibility in fast moving consumer goods sector. To meet the objective of the study, the study chose the top 20 FMCG companies based on highest market share and collected the data from 20 supply chain managers. The variables considered for the study were internet of things (IoT), blockchain, artificial intelligence (AI), radio frequency identification (RFID), cloud technology and information technology. relevant statistical analysis was used to prove the results and it is evident that technology positively correlates with the supply chain visibility. Artificial Intelligence has the most significant impact on the supply chain visibility of a firm. Hence, there is a significant impact of technology on supply chain visibility and the extent impact is high. 2024, IGI Global. All rights reserved.