Authors: Parkhi, Shilpa. Singh, Saumya. Pushp, Aman. Rastogi, Shailesh. Gautam, Rahul Singh. 

Journal: ACM International Conference Proceeding Series
Publication date: 05 Aug 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: Rastogi, Shailesh. Agarwal, Bhakti. Gautam, Rahul Singh. Jain, Pooja. Bhimavarapu, Venkata Mrudula. Singh, Saumya. 

Journal: 
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: Rastogi, Shailesh. Tejasmayee, Pracheta. 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

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.