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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. -
Nexus Between Tax Buoyancy and Economic Growth Evidence from India1
This paper examines the trends in fiscal revenue collections and the relationship between tax buoyancy and economic growth. In recent years, the responsiveness of revenue growth in relation to economic growth is a growing concern as we witness staggered tax revenue growth with the convergence of percentage contribution of direct taxes to the aggregate revenue with indirect taxes. Using the Log OLS model, for the period between 2000-2018 the variability in tax revenue due to the change in economic growth as measured by GDP was verified. We confirm the test results using M-estimation Robust Log-OLS. We critically appraise the policy interventions and administrative initiatives taken up to improve the buoyancy rate and suggest ways to enhance the voluntary tax compliance rate in the country. The studys findings show a significant relationship between tax revenue and economic growth, but it does not necessarily improve the tax buoyancy rate. Indian Institute of Finance. -
Nexus between ownership structure and firm performance - Evidence from Indian service sector
Shareholding pattern of an organization determines the management control and decision making climate. Empirical researches have proved relationship among the type of shareholdings, managerial efficiency and stock returns in manufacturing sectors. This study investigates the relationship between the organizational shareholding pattern and financial performance of select services sector companies taking sample from listed financial services and Information technology firms from CNX500 Index for a period of five years. The study emphasizes on the significance of categorical distinctions among ownership and evaluating its influence on firm performance for investment decisions. Both accounting and market based approach of Firm performance has been considered using Tobin Q ratio and Return on Capital Employed as proxy. The results show that there is Insider owners dominance in services sector. A higher percentage of aggregate promoter and promoters group holdings are documented in services sector. The study also documents a positive and significant relationship between the firm performance as measured by market model and the percentage of shares held by promoters and Institutional bodies. In contrast, there is negative and insignificant influence of promoters holdings on the firm performance. However, Institutional shareholdings have a positive and significant influence. Dominant insiders ownership enhances management efficiency through excessive control for wealth maximization. IAEME Publication. -
Evaluation of hydroxyapatite filler loading on dynamic mechanical properties of combined silk and basalt fabric reinforced epoxy nanocomposites
The boosting of electrical and microelectronic goods causes the continuous increase in the amount of power per unit volume of these gadgets, leading to unavoidable overheating problems that diminish their functional performance as well as life span. One of the primary aims of materials science is the creation of high-performance materials that are made from renewable resources. Multi-phase composites were recognised as an effective route to achieve a new portfolio of advanced materials with superior performance. Some of the functional fillers in polymer-based composite materials exhibit outstanding electrical insulation, chemical resistance, mechanical and processing properties, and therefore are considered to be the most promising candidates to solve the heat dissipation problem. In this research article, the thermal behavior, namely Fourier Transform Infrared Spectroscopy (FTIR), X-Ray Diffraction Analysis (XRD), and Dynamic mechanical analysis (DMA) of hybrid nano-sized hydroxyapatite filled hybrid fiber reinforced epoxy nanocomposites are investigated. Three important parameters were examined at 1 Hz frequency: storage modulus, loss modulus, and damping, all from room temperature to 160 C. The influence of the nHAP loading on the dynamic mechanical properties are discussed and explained with the highly relevant works from the available literature. In particular, the dependence of the hybrid composite damping on the nHAP loading was explained with regard to damping due to particleparticle and polymer-fiber interaction. The presence of nHAP is confirmed by a wider XRD curve, and the incorporation of nHAP results in the removal of the hydroxy group from the fibers as shown by FTIR. The inclusion of nHAP in a hybrid (S + B/Ep) composite enhances the synergetic effect, which raises the storage and loss modulus, decreases the damping factor, and increases the Tg of the nHAP filled hybrid nanocomposites. 2021 -
Announcement effect of tender offer share buyback around turmoil period evidence from India
The announcement of a buyback informs the market about the companys decision to repurchase its own shares. This announcement highlights the companys price valuation and the inefficiencies that exist in the market. This study examines the share buyback announcement effect during the COVID-19 period. The study considered the stocks listed in the National Stock Exchange (NSE) that offered share buyback under tender offer mode during the pre-pandemic period between April 2016 and February 2020 and the post-pandemic period between March 2020 and March 2022. 75 firms in the pre-pandemic period and 43 in the post-pandemic period that announced share buyback under the tender offer method were analyzed. The event study methodology using a market model was employed to determine the presence of abnormal returns during the event period, which consisted of 21 days and +21 days. The findings of the study revealed the existence of abnormal returns in and around the announcement date. Besides, statistically significant cumulative abnormal average returns (CAAR) were also found on the event day, i.e., on Day 0. The study found that the impact of buyback announcements on stock returns significantly differed before and after COVID-19 for 10 and 21-day periods, with no significant differences for shorter periods. These insights can help traders and fund managers make informed portfolio adjustments during turbulent market periods surrounding buyback announcements. The author(s) 2024. -
Thermomechanical and viscoelastic properties of biodegradable and biocompatible polymer nanocomposites
Due to the ongoing depletion of fossil fuels, which have been the primary sources of monomers from which the vast majority of synthetic polymers are derived, biodegradable and biocompatible polymeric composites (BBPCs) have received a great deal of attention in recent years. The use of biodegradable and biocompatible polymers is expanding due to their ability to reduce toxic and nondegradable waste materials. Traditional polymers such as polypropylene, polyethylene, and polystyrene are nonbiodegradable, making reuse and recycling difficult. As a result, massive amounts of nonbiodegradable waste are generated all over the world. Biodegradable polymers have been widely used in medical and packaging applications because they are typically made from renewable materials that biodegrade when discarded. Producing biodegradable composites with the addition of environmentally friendly nanofillers is increasingly being regarded as the next-generation materials for improving some of the properties and performance of biodegradable polymers. Despite growing interest in biodegradable and biocompatible polymer research, most studies focus on their preparation methodologies and characterization, with little attention paid to their thermo-mechanical and viscoelastic behavior. Thus, the potential of biodegradable and biocompatible polymer nanocomposites under various thermo-mechanical conditions, as well as their viscoelastic behavior, is reviewed in this chapter. 2023 Elsevier Inc. All rights reserved. -
Determinants of Book Built IPO underpricingdifferential issue size and market momentum approach revisited
Pricing of an Initial public offering (IPO) is a complex phenomenon. Price anomalies are commonly observed in IPO markets, especially in emerging markets. Investors perceived underpricing creates undue market momentum during the offer period with an asymmetric effect across different issue sizes. This study examines the determinants of Book Built IPOs underpricing by considering a sample of 180 Book Built IPOs that went public in India between 2011 and 2020. The determinants were verified for differential issue size public offers. Listing day performance was measured using Listing Day-Absolute Return (LD-AR) and Listing Day-Market Adjusted Return (LD-MAR) models. Further, the data obtained was tested for the explanatory capabilities of firm-specific and market momentum factors for underpricing using OLS models. Concerning the differential issue size, the study found a direct relationship between the issue size and underpricing. Dominant underpricing was observed in the case of moderate to large issue size with a linear progressive return, confirming that there was over-optimism on the part of investors. The studys results also revealed that momentum-specific factors have a significant influence along with firm-specific factors such as firm size, cash flows, a subscription rate of QIBs and RIIs in the listing day return, and underpricing. 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. -
An Empirical study on price pressure and liquidity effect of stock split announcement- Evidence from Indian Market
International Journal of Marketing and Technology Vol.3,No.1,pp.138-156 ISSN No. 2249-1058 -
An Empirical Study on announcement effects of right issues on share price volatility and liquidity and its impact on market wealth creation of informed investors in Bangalore with special reference to CNX Nifty Stocks of NSE
Excel International Journal of Multidisciplinary Management Studies Vol. 2, No. 7, pp 41-58, ISSN No. 0972-687X -
An Empirical Study on Stochastic Volatility - Evidence From Indian Commodity Future Market
Asian Journal of Research in Business Economics and Management, Vol-3 (8), pp. 39-46. ISSN-2249-7307 -
An Empirical Study on Gold ETF Volatility - Evidence From Indian Market
Zenith International Journal of Business Economics & Management Research, Vol-3 (7), pp. 223-232. ISSN-2249-8826 -
The influence of personality traits on young Bangaloreans who prefer death metal music /
Death metal is often stereotyped as an extreme form of art which reflects community attitudes. Through this study, I intend to analyze the big 5 personality traits among young Bangalorean's that have a preference for death metal music. This paper will also will attempt to analyze the lyrics of 10 famous tracks from the genre that will be studied in terms of misogynic and occult themes. -
Job satisfaction among women scientists in Karnataka with special reference to Bangalore
Innovations in Science and Technology form the basis of most changes in all world societies. Harnessing these discoveries, for the benefit and progress of various social groups, then becomes the greatest contribution of the community of Natural Scientists within any society. In Bangalore, as in other parts of India, discoveries and innovations are brought about in Science and Technology laboratories, on a daily basis. -
Factors affecting intra-relations of backend cost drivers in multi-brand retail domestic super market under convenience stores format: A customer aligned model of supply-chain optimisation framework /
Asian Journal Of Management, Vol.8, Issue 1, pp.78-86, ISSN: 0976-495X (Print), 2321-5763 (Online). -
In vivo, in vitro and in silico screening of a potent Angiotensin Converting Enzyme (ACE) inhibitor from Trigonella foenum-graecum extract using Zebrafish as a model organism to reduce hypertension
The number of patients suffering from hypertension is on the rise worldwide and there is a need to explore natural products which can supplement current drugs to treat this disease. RAAS (Renin Angiotensin Aldosterone System) is one of the factors maintaining blood pressure. In the present investigation, we explored the potential of methanolic extract of fenugreek seeds in inhibiting Angiotensin Converting Enzyme (ACE), a key enzyme in the RAAS system, thereby reducing hypertension. In addition to in vivo studies conducted on zebrafish, in vitro and in silico studies were also performed to assess the inhibitory effect of the fenugreek extract on ACE. The bioactive components in Trigonella foenum-graecum revealed by GC-MS were further subjected to docking and binding studies with the receptor protein ACE. Of the various phytochemicals studied, arachidonic acid exhibited the maximum inhibitory effect on ACE. Thus, the present investigation was able to favorably screen a potent ACE inhibitor in Trigonella foenum-graecum extract which shows a potential to be used alone or supplemented with synthetic ACE inhibitors to treat high blood pressure. Further investigations are required to quantify the phytochemical for its inhibitory activity and also to understand the mechanism of inhibition of the enzyme. 2020 World Research Association. All rights reserved. -
Mapping the literature on school bullying in India: A scoping review
School bullying has been identified as a major issue among students throughout the world. With around 260 million school students, the largest student population in the world, it becomes essential to investigate this issue in the Indian context. The present work uses the Arksey and O'Malley (2005) framework for scoping review to examine the nature of research on school bullying in India and identify research gaps to be addressed by future research. The review maps the concepts examined, research approaches used, sample characteristics, data collection methods, researcher characteristics, and nature of publications in relation to bullying. Seven databases - JSTOR, PsycNET, Cochrane Reviews, ERIC, MEDLINE, Web of Science, and Cochrane Central Register for Controlled Trials - were searched for sources containing the terms bullying and India published in English and between the years 2015 and 2022. Thirty-eight sources selected for the review suggest that existing research in India on school bullying is limited compared to the West and yet provides a guiding light to future researchers. The findings from this review highlight research gaps in the existing literature and outline areas for further exploration. 2024 Elsevier Ltd -
Survey data on bullying involvement among school-going adolescents in India
The data was collected from 169 school-going adolescents of grades sixth to twelfth from two cities in South India. The data set contains information of the frequency and type of bullying involvement (perpetration and victimization; physical, verbal, and social) among the participants in traditional and virtual classrooms. The data set can be used by all stakeholders to identify the frequency and types of bullying involvement among Indian adolescents. Further, relevant policies and programs can be developed that is tailored to the Indian adolescent population and the specific sociodemographic groups that are most vulnerable. Researchers can also replicate the study in various parts of India to compare bullying involvement among school-going adolescents across different parts of the nation. 2024 The Author(s) -
Playing With Differences: Social-Emotional Learning to Reduce Bullying and Promote Inclusivity
Inclusivity is a key indicator for the achievement of Sustainable Development Goals by 2030. At the school level, bullying mars the appreciation of individual differences and acts as a barrier to inclusivity. The use of social-emotional learning is recommended to promote inclusivity and reduce bullying. Play is an enjoyable form of learning social-emotional skills for all age groups. It is also known to promote positive peer relationships and enable learners to develop a wide range of skills. Hence, educators can incorporate play through digital pedagogical tools and grade-wise play activities to engage students. Resultantly, learners can become emotionally intelligent individuals, sensitive to and respectful of differences. 2023 by IGI Global. All rights reserved. -
A Short Review on Recent Applications of Chitosan Biopolymer in Gene and Drug Delivery
The battle of the human race with genetic disorders was prevailing from the time immemorial. Revolutions and modernizations in science and technology have clearly improved our understanding regarding the molecular basis of genetic disorders thereby aiding in designing new therapeutic interventions in their treatment and prevention. With the advent and development of gene therapy in the last few decades, promising windows were opened for treatment and prevention of genetic disorders and cancer. Despite of its remarkable significance in medicine, the common practice of using viral vectors as gene delivery agents has created controversies and concerns among the scientific community. This made the research focus on biobased polymers as alternative non-viral vector systems for gene and drug delivery for treating genetic disorders and cancer. Chitosan is a cationic polymer that can be easily tailored to serve as gene and drug delivery due to their biocompatibility and biodegradability. Their structural integrity and stability have made them widely used for various applications in the biomedical field. Chitosan and its derivatives have gained more attention as vectors for gene delivery and cancer therapy in the past decade. The amenability of structural modification, non-toxicity and high biodegradability of chitosan derivatives can make them prospective carriers for controlled drug delivery in future. 2022 Chemical Publishing Co.. All rights reserved.