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Purpose: In 2014, real estate investment trust (REIT) emerged as a new alternative investment option in India. This research aims to give an empirical authentication of the Indian REITs performance from April 2019 to July 2022 across a range of investment variables. Design/methodology/approach: Using monthly total returns in Indian Rupee, risk-adjusted Indian REIT performance and investment portfolio characteristics are examined. Indian REITs' potential in a diversified multi-asset portfolio is analysed using the mean-variance analysis, asset allocation diagram and efficient frontier. Findings: During April 2019–July 2022, Indian REITs provided a lower return than stocks but outperformed bonds despite coronavirus disease 2019 (COVID-19) lockdowns, which hurt the traditional working from office concept. The study also examined REIT allocation to an Indian mixed-asset portfolio and the benefits of a diversified portfolio. Practical implications: Indian REITs provide a liquid, transparent alternative to direct property for investors seeking exposure to Indian real estate markets. Indian REITs gave real estate companies an extra funding source and investors an alternate asset. This paper explores Indian REITs' potential opportunities, given that domestic and foreign investors' demand for transparent property investment in India. The analysis found a positive early performance despite a challenging environment. Originality/value: This paper offers the first empirical performance validation of Indian REITs as a way to obtain exposure to commercial property in India and the REITs' role in a diversified asset portfolio. The authors' study improves investors' decision-making abilities by providing empirically validated, valuable and practicable property investing insights. [ABSTRACT FROM AUTHOR]

The recent buzz across India after the 2022 budget, where there has been a separate tax levy of 30% on the income from digital assets, is the concept of cryptocurrency. There has been a sudden increase in the number of people investing in digital currency. This research aims to investigate the knowledge of cryptocurrency and factors that may play a role in the acceptance of cryptocurrency as a mode of payment. The questionnaire was distributed to 220 respondents, collecting their responses through an online survey method. Structural equation modelling was performed to analyse and test the hypothesised relationships. The results show that there is knowledge of cryptocurrency among investors. Additionally, gender plays a significant role in cryptocurrency investment. These findings would be helpful in the future for the significant fintech companies who are planning to revolutionise the mode of payment through cryptocurrency and also for further financial research that takes place in the future. [ABSTRACT FROM AUTHOR]

Economic impact assessment (EcIA) is an important part of a broader environmental impact assessment (EIA) process. However, EcIA has not been used to its full potential. This paper suggests a comprehensive framework of projects' impact assessment which utilises two complementary techniques such as risk assessment (RA) and regional impact analysis (e.g., input output analysis) of alternative investments in an extended cost benefit analysis (CBA). Types of impacts that warrant an inclusion of RA in EcIA are discussed. The extension of regional impact analysis could assist in increasing positive impacts from proposed projects for local economies. Comprehensive EcIA could help to improve overall EcIA of projects especially those projects that might be potentially damaging for the environment and communities, although they would bring employment and income in the regions. Qualitative discussion using some examples from coal mining in India is provided. [ABSTRACT FROM AUTHOR]

As European, American and Asian investment banks continue to deal with the fallout of the worldwide credit and liquidity crunch, it is crucial to appreciate that a significant causal origin of the 2008 crisis was the management of the alternative financial sector and specifically, in the regulation of both domestic and offshore hedge funds. Although the industry has often been beneficial for the financial system, critics believe that these benefits have accrued at a cost. Significant 'systemic' risks that have plagued the domestic financial systems as a direct consequence of hedge funds operating both the credit and the market channel (largely on the basis of unlimited leverage), are domino leverage failure, asset price downward spirals and money laundering, among others. Naturally, the need to manage and regulate the industry, and more importantly, how to do so, has gained importance in industry dialogue. Through this paper, the authors seek to design an effective capital markets regulatory design for hedge funds. [ABSTRACT FROM AUTHOR]

With the negative climate impact of fossil fuel power generation and the requirement of global policy to shift towards a green mix of energy production, the investment in renewable energy is an opportunity in developing countries. However, poor economy associated with limited income, funds availability, and regulations governing project funding and development are key factors that challenge investors in the energy sector. Given the various power generation resources, including renewables, it is necessary to evaluate the possible power generation investment options from an economic perspective. To realize this objective, solar PV, wind and diesel power generations are economically compared, considering the incremental rate of return and incremental benefit to cost ratio techniques. The alternative investment options of distributed generation technologies are evaluated for Maharashtra, India under different depreciation methods, and the effect of the latter on selecting the best investment candidate is investigated. The paper also conducts sensitivity analysis to examine the impact of capital cost, operation and maintenance cost, and fuel cost variations on the selection decision considering a comparison of the different general projects' cash flow structures discussed in the literature. The economic aspects of selecting a project among possible alternatives for an investment in the power sector are analyzed, and the presented review provides comprehensive comparisons with respect to the literature approaches. The results reveal that, in the benchmark case study, the PV project is rejected and disregarded from further comparisons with other candidate projects since its equity internal rate of return (10.25%) is less than the minimum accepted rate of return, leaving the selection between wind and diesel energy projects. The study reveals that the incremental rates of return under such a comparison are 37.88%, 45.94% and 37.50% when MACRS, declining balance and straight line depreciations techniques are applied, respectively. Thus, the wind energy project is the favored option in this case. For the economic assessment of other case studies, the application of both sensitivity analysis on the capital cost and operation and maintenance cost and literature approaches to structure the projects reveal that wind energy for Maharashtra, India is a more attractive and feasible option compared to other distribution generation projects, while diesel is only considered to be a good option when its fuel cost is reduced by 5%. Finally, the paper highlights policy implications that can influence the decision to move towards investment in distributed generation technologies as a future research direction. [ABSTRACT FROM AUTHOR]

In this article, we examine the role of domestic and foreign venture capital and private equity (VCPE) firms in India. We find robust evidence that portfolio firms backed by foreign VCPE firms incorporate effective governance structures after the initial public offering (IPO). Specifically, these firms are associated with smaller, more independent, and gender‐diverse boards. Furthermore, our results suggest that foreign VCPE firms continue their association with their portfolio firms in the post‐IPO period by nominating directors to the boards. Our results also suggest that portfolio firms backed by foreign VCPE firms are associated with better long‐term operating performance and profitability. This positive effect is exacerbated by the presence of independent and female directors. Collectively, our results support the view that good governance practices are key to the long‐term success of a business, especially in economies that lack good legal systems, developed financial markets, and alternative investment opportunities and where developing trust between parties in a transaction is crucial. [ABSTRACT FROM AUTHOR]