Authors: Parkhi S., Singh S., Pushp A., Rastogi S., Gautam R.S.

Journal: ACM International Conference Proceeding Series.

Publication date: 2023

Publisher: Association for Computing Machinery

URL: Access Paper

Abstract:

The purpose of this article is to examine how financial leverage affects financial performance and the moderating role of efficiency in the relationship. This study uses data from 76 firms listed on the bombay stock exchange during the period from 2011 to 2020, resulting in 760 firm-year observations. A quantile regression panel data model is used to investigate the hypotheses of this study. The results reveal that financial leverage has a negative and significant effect on financial performance. Furthermore, the findings indicate that firm’s performance improves with an increase in efficiency and leverage. Moderate evidence that an increase in efficiency exacerbates the negative association between leverage and performance. The results of this study have important implications for firms in emerging markets. Managers can enhance firm performance by reducing the level of financial leverage, especially in firms with low technical efficiency. These firms incur higher overheads, and then they can benefit more from the decreases in debt ratio in their capital structure. To the author’s knowledge, this research is the first to examine the effect of technical efficiency on the financial leverage-financial performance relationship and is one of few that investigate the role of efficiency in determining the linkage between leverage and firm performance. © 2023 ACM.

Authors: Pushp Aman, Gautam Rahul Singh, Tripathi Vikas, Kanoujiya Jagjeevan, Rastogi Shailesh, Bhimavarapu Venkata Mrudula, Parashar Neha. 

Journal: Journal of Risk and Financial Management.              
Publication date:  2023                                               
Publisher: MDPI

URL: Access Paper

Abstract

Financial inclusion is an emerging economic growth paradigm, especially in developing economies like India. It is an essential barometer for the all-encompassing growth of a country and its economy. However, there is still a debate regarding the effect of Financial Inclusion (FI) on achieving sustainable development. This study aims to determine if FI helps achieve Sustainable Development Growth (SDG) in India and if internet subscribers significantly influence the connection between FI and SDG. Secondary data from 16 states and one UT in India have been collected for 2017–2019. Therefore, the sample data is recent and covers a large country span. The data source is NITI Aayog and PMFBY (“Pradhan Mantri Fasal Bhima Yojana”) reports. The findings of this research are that FI has a positively significant relationship with sustainable development goals (SDG) in India. However, when the internet subscribers are high, the FI’s positive association with SDG gets reduced. PMFBY and SDG have been used for the first time, along with internet subscribers as moderators. The outcome has direct policy implications for improving the nation’s financial inclusion and economic growth. © 2023 by the authors.

Authors: Pushp Aman, Gautam Rahul Singh, Rastogi, Shailesh, Bhimavarapu Venkata Mrudula, Kappal Jyoti Mehndiratta, Patole Hitesh. 

Journal: Journal of Risk and Financial Management.              
Publication date:  2023                                               
Publisher: MDPI

URL: Access Paper

Abstract

This study investigates the impact of corporate social responsibility (CSR) funding in the education sector and the environment and how it affects India’s sustainable development. This study was conducted using secondary data and the data were collected from 28 Indian states and three union territories for the four fiscal years 2018 to 2021. This study examines the hypothesis using the generalized method of moments (GMM). As a result, it is found that overall CSR funding positively contributes to India’s sustainable development. Additionally, this study finds that CSR funding in education and the environment supports India’s sustainable development. It is also observed that, under the interaction effect of poverty (poverty score), CSR funding (total) and CSR funding on education positively affect sustainable growth. However, CSR funding for environmental activities does not significantly influence India’s FD under the moderation of poverty score. These factors are essential for India’s sustainable development and poverty reduction. Investing CSR funds in rural development, education, the environment, health, and other areas supporting India’s sustainable development leads to impressive economic growth and reduces poverty. Hence, it is attributed that CSR funding plays a vital role in India’s sustainable development. Future research can be carried out on CSR policies and funding using different variables and periods. © 2023 by the authors.

Authors: Tejasmayee Pracheta, Rastogi Shailesh, Pushp Aman, Agarwal Bhakti, Singh Saumya, Thakur Swapnil.

Journal: 2023 8th International Conference on Business and Industrial Research, ICBIR 2023 – Proceedings.                                     
Publication date: 2023                                               
Publisher: Institute of Electrical and Electronics Engineers Inc.

URL: Access Paper

Abstract

The study aims to evaluate the effective and successful implementation of Sustainable Development Goals (SDGs). In order to help and liberate the residents with all types of financial services, our focus will be on expanding the financial services to the underdeveloped and rural areas of India. The relationship between financial inclusion (FI) and SDGs is examined in this paper. The Panel Data Model (PDM). was employed to produce this outcome. STATA version 15 is utilized in the study to run the correlation and linear regression analysis tool. The findings show a strong relationship between our proxies, or the number of IPPB branches and access points, and the SDGs. Our research can be used to create new financial regulations for sustainable growth. This may persuade the government to increase the number of IPPB access points. Researchers may use this study to look into other factors that can be used to advance the level of development. Future research may examine more financial inclusion proxies. Our findings might be outdated, given the ongoing emergence of new technologies. The federal government is working hard to promote equitable growth. © 2023 IEEE.

Authors: Tejasmayee Pracheta, Rastogi Shailesh, Pushp Aman, Agarwal Bhakti, Singh Saumya, Thakur Swapnil.

Journal: 2023 8th International Conference on Business and Industrial Research, ICBIR 2023 – Proceedings.                                     
Publication date: 2023                                               
Publisher: Institute of Electrical and Electronics Engineers Inc.

URL: Access Paper

Abstract

Since the beginning, agriculture has been the backbone of the Indian economy. The farmers have always received help from the Indian financial system to help them effectively complete their jobs. The use of financial services significantly impacts agriculture in the short and long term. The study’s main objective is to promote inclusive growth while strengthening the agricultural industry. The study uses the number of Indian post-payment bank branches and their access points as proxies for financial inclusion because it seeks to assess the effect of financial inclusion on the net value provided by agricultural activities to the development of the nation. According to the results, there is a remarkable relation between the net value added by agricultural activity and our proxies or the number of IPPB branches and access points. Our study can be utilized to develop new financial policies for agriculture. Only 3-4 years of data are taken into account in the study. The trial can go on for a while longer. As new innovations take place constantly, our results could become obsolete. The government is making every effort to encourage inclusive growth; therefore, the numbers can increase in the near future. © 2023 IEEE.