Authors: Agarwal, B, Gautam, R.S, Jain, P, Bhimavarapu, V.M., Singh, S.

Journal: Journal of Risk and Financial Management.

Publication date:01 Feb 2023

Publisher: MDPI

URL: Access Paper

Abstract:

Environmental, social, and governance (ESG) activities have become essential and viable activities of corporations because of the increase in concern for environmental, social, and governance issues. The motive of this research is to measure the effect of ESG on the financial performance (FP) of healthcare corporations using the market-to-book value (MTB) ratio as a proxy of FP. A sample of 33 pharma companies in India from 2011 to 2020 has been considered. The study relies on the panel data method to assess the association between ESG and FP. The potential moderating role of competition has also been studied to simplify their relationship in this framework. The finding of this study is that there is a significant negative association between ESG and FP, and it is also found that when competition is used as a moderator, it results in a significantly positive impact on the ESG and FP of healthcare companies. This study increases the understanding of the association between ESG and FP and helps corporations to formulate corporate strategies and stakeholders to make investment decisions. The originality of this study is that it addresses the impact of competition on ESG and FP of the healthcare industry and will become foundational literature for future studies. © 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: 19 May 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: 19 May 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.

Authors: Sidhu, Anureet Virk, Rastogi, Shailesh, Gupte, Rajani, Rawal, Aashi, Agarwal, Bhakti.

Journal: Journal of Risk and Financial Management.
Publication date: 1 Nov 2023
Publisher: MDPI
URL: Access Paper

Abstract

The present study examines the impact of the Net Stable Funding Ratio (NSFR) on the performance of Indian commercial banks from 2010 to 2021. The study further investigates how the relationship between liquidity and performance varies under the influence of bank-specific factors such as ownership structure (Promoter vs. Institutional investors). Bank performance is evaluated using a two-fold approach—Profitability measures (NIMs and ROA) and NPA levels of banks. Using the Dynamic panel data regression technique, we find that the relationship between NSFR and NIMs is negative, implying that bank NIMs tend to decline as banks comply with NSFR regulation. Furthermore, the study demonstrates that the inverse relationship between NSFR and bank NIMs becomes more profound when promoters’ stakes are high. Finally, the results highlight that for banks with higher institutional holdings, NPA levels witness an upward trend as the NSFR ratio increases. From a policy perspective, study results will help policymakers understand how changes in liquidity levels impact the wider banking sector and guide them on the overall direction in which to progress with the reforms. © 2022 by the authors. Licensee MDPI, Basel, Switzerland.

Authors: Nerurkar, Varad, Barge, Prashant, Bhatt, Vimal, Rastogi, Shailesh, Agarwal, Bhakti.

Journal: Marketing and management of Innovations.
Publication date: 7 June 2023
Publisher: SUMY STATE UNIV, DEPT MARKETING & MANAGEMENT INNOVATIVE ACTIVITY.
URL: Access Paper

Abstract

This study is conducted to understand consumers’ preferences with different demographic variables on their car purchase decision based on features the car offers and the cost consciousness variables considered mainly by consumers, as suggested by previous studies on this topic. The judgmental survey method was used for this research using a structured & non-disguised questionnaire to collect the responses. The pilot survey was used to understand the instrument’s reliability and validity total of 200 respondents were contacted, but 143 responses were received. The response rate was almost 72% of the reached respondents. But, only 103 usable responses were considered for analysis as there were 40 responses found not to be a worthwhile while. 13 were inconsistent with their answers, 22 had missing values with essential questions, and the remaining 5 were outliers in their response. The shortlisted sample size (with almost 50% responses) is adequate for this type of research. Factor analysis with PCA is performed to group the variables and define the dependent variables for this study. The two dependent variables were defined from this. They are described as features of the cars and cost consciousness. Then ANOVA is used to get p-values for the regression scores of the independent demographic variables to understand the impact. The findings of this study show that none of the essential demographic variables of consumers (here gender, education, occupation and age) has shown a significant impact with features and cost consciousness as dependent variables in car purchase decisions. These findings contradict the studies done in the past. It is find from this study, that the consumers are more fashion-conscious and environmentally conscious than cost-conscious. This result may be because of the characteristics of the sample, which shows that there is no significant impact of any of the demographic variables on the car purchase decision based on the feature of the car as well as cost-consciousness factors like resale value, maintenance and fuel. The results of this study may change if the sample contains equal percentages of the consumers for all the demographic factors. The results may vary if the sample has more part-time employees and other types such as students, retired and unemployed.

Authors: Pal, Soumyadip, Kanoujiya, Jagjeevan, Rastogi, Shailesh, Agarwal, Bhakti.

Journal: International Journal of Contemporary Economics and Administrative Sciences .
Publication date: 24 Nov 2023
Publisher: INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES.
URL: Access Paper

Abstract

Covid-19 (C-19) has resulted in economic and financial meltdowns across the world. The countermeasures to tackle the virus created economic loss for people from every stratum. Macroeconomic indices like unemployment, inflation, and GDP growth rates were severely hit. This study estimates the C-19’s volatility impact on four macroeconomic variables (gold prices, interest rate, crude oil prices, and exchange rate in the Indian economy. The paper uses daily time series data of the macroeconomic variables and cases of C-19 in India for the period from 5th January 2020 to 4th April 2022. The volatility impact of COVID-19 is measured using Bi-Variate GARCH models. The GARCH models (BEKK-GARCH [BG] and DCC-GARCH [DG]) provide robust results. The result finds the existence of both short and long-term C-19’s volatility impact on all variables, although in different degrees. This paper is original since it considers the impact of these four variables altogether and the study contributes to the literature by capturing the volatility spillover effects of these four variables using BEKK-GARCH and DCC-GARCH. This paper significantly delivers key implications to policymakers to critically treat C-19 for economic stability while making policies.

Authors: Singh, Saumya,Gautam, Rahul Singh, Agarwal, Bhakti, Pushp, Aman, Barge, Prashant, Rastogi, Shailesh.

Journal: Journal of Asian finance economics and business.
Publication date: 16 Feb 2023
Publisher: KOREA DISTRIBUTION SCIENCE ASSOC.
URL: Access Paper

Abstract

The ultimate motive of the paper is to establish whether financial inclusion (FI) has a consequential impact on the Sustainable Development (SD) of India. This study uses one model for the assessment of the influence of FI through the Co-Operative bank network on SD. This is purposely done to analyze the absolute impact of the role of the Co-Operative bank network in the said context. The sample encompasses data taken from 28 states and 3 Union Territories for two years (FY2018-FY2020). Assessment of data for the remaining Union Territories is not undertaken for the reason of the non-availability of data for other Union Territories. This study uses Panel Data Analysis (PDA) to establish the nexus of the relation between the said variables. Results of this study reveal elevated levels of SD resultant of increased FI thereby indicating a positive and significant relationship between the said variables. Unlike previous studies, this study gives India-specific significant findings, which suggests policy formulation for increasing the numbers and improving the governance of Co-Operative bank networks for SD. Co-Operative bank network as a proxy despite having high weighted significance in FI has not been incorporated in any recent study as per the last updated knowledge of authors.