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The current research is aimed to study the indicators of post reform growth in insurance and its impact on economic development in India. Insurance penetration, insurance density, and gross domestic savings are the dominant measures to study the growth of insurance. Economic development is studied through Gross Domestic Product (GDP). The annual data of 22 years (year 2001 to 2022) from IRDA annual reports and economic surveys have been used. To analyse the data, ARDL technique has been employed. The findings of the study revealed that there is an existence of co-integration (both long-run and short-run) amongst the dependent (GDP) as well as independent variables (indicators of insurance). The findings of the current study have come up with the view that still in insurance, there is an ample scope to tap by creating more awareness and providing more benefits to the policyholders as the intention to purchase the policies may be enhanced. [ABSTRACT FROM AUTHOR]

The Economic Survey of India of 2017-18 and OECD data show that the Indian Income Tax Department (ITD) loses more than two-thirds of the income tax appeals litigated before the Income Tax Appellate Tribunal (ITAT), the High Courts, and the Supreme Court in India. However, reasons for the ITD's subpar performance, which may adversely impact revenue collection and the ability of the government to fund public services, are unknown. This study applies grounded theory methodology to case law, interview, and survey data to develop a theoretical model to explain the ITD's low success rate in income tax litigation. The study shows that Indian bureaucratic culture, which is characterised by poor accountability, ineffective performance management, and a trust deficit, contributes to the ITD's low success rate in income tax litigation before the ITAT and the courts. Inadequate accountability and ineffective performance management in turn contribute to the poor quality of income tax assessments and the ITD filing meritless or frivolous appeals. Factors that lead to such sub-standard quality of income tax assessments and ITD filed appeals include revenue targets imposed on income tax officials by the ITD, inadequate supervision of tax officials with regard to their assessment of tax, and tax officials disregarding precedent in the process of making assessments and filing appeals. The inferior quality of income tax assessments and ITD filed appeals consequently results in the low success rate of the ITD in tax litigation. In addition, poor accountability and ineffective performance management perpetuate inadequate representation of the ITD before the appellate fora, adding to the ITD's losses in litigation. Further, trust deficit, which underlies Indian bureaucratic culture, fosters a mindset of tax officials that reflects prejudice against taxpayers and a fear of audit and investigation. Trust deficit also leads to officials abdicating their responsibility to make objective decisions in favour of taxpayers. This trust deficit therefore adds to the poor quality of tax assessments and appeals filed by the ITD, further compounding the ITD's losses in income tax litigation. By explaining reasons for the low success rate of the ITD in income tax litigation as well as the poor quality of income tax assessments made and income tax appeals filed by the ITD, the theory of Indian bureaucratic culture provides insights for reforming Indian tax administration. Further, the use of grounded theory methodology to develop a theory based on multiple sources of empirical evidence is a unique contribution to the field of taxation and to the literature on tax administration, especially, the literature on Indian tax administration. [ABSTRACT FROM AUTHOR]

In this paper we investigate the trend and pattern of nutritional status of women and children in North East India and explore the factors that perhaps explain the same. The analysis is based on secondary data available from various rounds of NFHS survey, Economic survey of India and other supporting secondary literature portrait the dichotomy between growth and development through the lenses of nutritional parameter. Apparently different NER states have flared differently in nutritional parameter and thereby urge to have states specific approach in identifying and targeting factors contribute the same. [ABSTRACT FROM AUTHOR]

By 2050, India is expected to surpass China as the world's most populated country, with a population of almost 1.7 billion people. To feed this exponentially increasing population, the country must pursue a policy of vertical productivity growth, as the possibilities for additional horizontal expansion of cultivated land are rapidly diminishing. Furthermore, continual cropping depletes soil nutrient resources, necessitating the replenishment of soils with critical major and minor plant nutrients. The country cannot compromise with nutritional supply in order to end "Silent Hunger" and the immoral perpetuation of high concentrations of increasing number of malnourished children and anaemic moms. While the country is intending to restructure its agricultural production system, including R&D, to meet the needs of rising problems, the 2018-19 economic survey established a strong case for the widespread adoption of 'Zero Budget Natural Farming' (ZBNF) to double farmers' revenue. As a result, crop productivity will remain low, and farmers will not be able to earn enough to double their income and get out of debt with this level of output. Also at the country level, we will not be able to meet the expanding populations food and nutritional demands and hence will fail to meet the sustainable goals of "Zero Hunger and Poverty Elimination" by 2030. Thus, with zero budget natural farming practices we can feed to the India and world, our emphasis is too elaborate all aspects. [ABSTRACT FROM AUTHOR]

The 2 nd Sustainable Development Goal (SDG) of the United Nations attempt to eliminate the potential hunger and food insecurity issues by 2030, but in the plight of COVID19 pandemic it has become far more critical and persistent issue globally as well as in India. The nation-wide socio-economic surveys of National Sample Survey Office (NSSO) in India are designed to produce reliable and representative estimates of important food insecurity parameters at state and national level for both rural and urban sectors separately but these surveys cannot be used directly to generate reliable district level estimates. Whereas, efficient and representative disaggregated level estimates for the extent (or incidence) of food insecurity prevalence has direct impact on strategizing effective policy plans and monitoring progress towards eliminating food insecurity. In this backdrop, the paper outlines small area estimation approach to estimate the incidence of food insecurity across the districts of rural Uttar Pradesh in India by linking data from the 2011–12 Household Consumer Expenditure Survey of NSSO, and the 2011 Indian Population Census. A spatial map has been generated showing spatial disparity for the incidence of food insecurity in Uttar Pradesh. These disaggregated level estimates are relevant and purposeful for SDG indicator 2.1.2 – severity of food insecurity. The estimates and map of food insecurity incidences are expected to deliver invaluable information to the policy-analysts and decision-makers. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: Farmer producer organisations (FPOs) are considered as a strategy to improve the livelihoods of small farmers through economies of scale by providing collective strength to farmers for improved access to production technology, value-addition services, high-quality inputs and marketing services for improving their incomes. This study investigates the impact of FPO membership on organic farming household's income in Northeast India. Design/methodology/approach: This study uses field survey data collected from all four districts of Sikkim. Primary data were obtained from a survey of 560 organic farming households, 280 of which are FPO members and the rest 280 are non-members. Propensity score matching (PSM) is used to estimate the impact of FPO membership on net returns, return on investment (ROI) and profit margin. Findings: Results show that the FPO members had, on average, Rs. 7,254–8,133 higher annual net returns, 4.6–4.8% higher ROI and 8–8.4% higher profit margin than the non-members. The findings confirm that FPO membership has a positive and significant impact on net returns, return on investment and profit margin. Also, heterogeneity analysis indicates that FPO membership has larger positive impact on relatively bigger farmers and female-headed households. Research limitations/implications: As the study was based on a cross-sectional survey, the findings may be subjected to some limitations. Originality/value: This study is based on a novel data set, collected specifically to examine the economic impact of FPO membership on organic farming in India. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-06-2023-0451 [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to focus on the issue of high employee turnover in the Indian tech industry. An integrative review is conducted to analyse the past and current state of literature, as well as prepare a research agenda for future studies. Design/methodology/approach: A pool of 72 articles published between 2010 and 2022 is reviewed with a special focus on Indian tech employees. This study elucidates the extent and impact of employee retention strategies through content analysis. Findings: Two broad perspectives have been established in the literature: the reasons for quitting and the explanations for staying. By means of a comprehensive review, this paper combines these two aspects of literature and suggests factors under organization's control to retain competent tech employees. Originality/value: The study is designed to integrate the two theoretical viewpoints of employee turnover literature by consolidating the reasons behind quitting behaviour and staying intention. Codes combining the two aspects are presented as a valuable resource to retain tech talent. [ABSTRACT FROM AUTHOR]

With the rapidly growing online sales, e-commerce firms in emerging economies like India risk unsustainable practices such as the relentless consumption of goods, increased plastic and paper packaging, or inefficient delivery options that increase fuel consumption. To maintain a favorable corporate image amongst consumers, online firms possibly adopt various mechanisms to signal consumers' adoption of sustainable practices. Such practices by firms may involve implementing sustainability practices in doorstep delivery, packaging, and product selection to influence consumers' buying preferences. This research uses a structured survey approach to explore the impact of three sustainable practices implemented by an e-commerce firm on the consumer's intention to purchase from such a firm. Using a dual theory perspective of the theory of consumption value (TCV) and the theory of planned behavior (TPB), the study demonstrates the impact of the belief of environmental risks on consumers' intentions to purchase from such e-commerce firms with sustainable practices. The data findings from 301 Indian e-commerce consumers suggest that consumers with a higher belief of environmental risks display a higher degree of tolerance for the inconvenience of order delivery and sustainable product purchase intentions, further influencing their intentions to purchase from e-commerce firms with sustainable practices. However, the preference for sustainable packaging does not impact intentions to purchase from e-commerce firms with sustainable practices. The study discusses the implications for online e-commerce retailers and policymakers and informs online e-commerce consumers' choices. [ABSTRACT FROM AUTHOR]

Using plant-level data for 2008-2017, we examine the impact of the adoption of ISO 14000 by Indian manufacturing plants on their energy intensity. The propensity-score-matching difference-in-difference (PSM-DID) estimator is used to assess the effect. Our results show that the adoption of ISO 14000 tends to reduce energy intensity in Indian manufacturing plants, especially among the low and low-medium technology industries. ISO 14000 lowers energy intensity in industrial plants in energy-intensive industries, and the effect is stronger for the group of such industries covered under the Perform–Achieve–Trade (PAT) scheme of the Indian government, a market-based compliance mechanism for energy efficiency improvement. [ABSTRACT FROM AUTHOR]

Purpose: This study examines the performance effect of working capital for a large sample of Indian manufacturing firms in light of supply chain disruption, i.e. the COVID-19 pandemic. Design/methodology/approach: This study is based on secondary data collected from the Prowess database on Indian manufacturing firms listed on the Bombay Stock Exchange (BSE) 500. Panel data regression analyses are used to estimate all models. Moreover, this study has employed robust standard errors to consider for heteroscedasticity concerns. Findings: The results challenge the current notion of working capital investment and reveal that higher working capital has a positive and significant impact on firm performance. Further, it highlights that Indian manufacturing firms suffered financially post-COVID-19 as they significantly lack the working capital to run day-to-day operations. Originality/value: This research contributes to the scant literature by examining the association between working capital financing and firm performance in light of the COVID-19 pandemic, representing typical developing economies like India. [ABSTRACT FROM AUTHOR]

Purpose: Wheat, which is one of the major staple food grain crops in India, continues to depict occasional fluctuation in the prices though Union government has adopted administered price policy for wheat by intervening in its procurement at assured prices and distribution. Such fluctuations in prices are usually attributed to inefficient functioning of the agricultural markets. Since spatially separated markets also play an important role to determine efficiency of the agricultural markets, the study has used market integration as one of the tools to analyze the price transmission across the spatially separated markets to identify causes of price fluctuations and suggest ways to stabilize wheat prices. Design/methodology/approach: The study utilizes monthly wholesale prices for January, 2006 to May, 2016 for dara wheat. First, the study employs augmented Dickey and Fuller (ADF), Phillips and Perron (PP) and Kwiatkowski, Phillips, Schmidt and Shin (KPSS) tests to check stationarity in wheat prices. Second, Johansen's cointegration test is applied to assess the integration of wholesale prices between selected pairs of wheat markets to determine long-run relationship among them. Third, Granger casualty test is used to find the direction of causality between the wheat market pairs. Finally, threshold vector error correction model (TVECM) and likelihood ratio (LR) tests are employed to examine long-run adjustment of prices towards the equilibrium in selected wheat markets. Findings: Since wheat wholesale prices for the selected markets are found to be integrated of the order one, that is [I(1)], Johansen's test of cointegration is employed and its findings reveal that the selected wheat market pairs exhibit cointegration and show a long-run price association among themselves. There exists a bi-directional causality among the wheat market pairs. Since LR test is in favor of threshold model (except for Etawah–Delhi pair), one and two threshold models were also performed accordingly. Findings show that wholesale prices of wheat in Delhi markets remain higher than the prices of all other regional markets as regional markets are found to adjust their prices towards Delhi market. Distance of the wheat markets from each other is directly associated with threshold parameters, which are analogous to the transaction costs. Geographically dispersed wheat markets incorporate high transaction and vice versa. Research limitations/implications: The study argues that there is need to improve rural infrastructure and connectivity of the agricultural markets and remove market asymmetries through unified market regulating mechanisms across the states. This will enable price adjustment process from primary wholesale markets (in production regions) to the secondary wholesale markets (in scarcity regions) quickly. Originality/value: The contribution of the study in the existing literature lies in the fact that there are no empirical evidences in the context of India that use price transmission as a tool of market integration among spatially separated wheat markets using TVCEM as this model examines role of transaction costs in efficient functioning of the agricultural markets. [ABSTRACT FROM AUTHOR]

Purpose: This work examines the impact of institutional agricultural credit on crop productivity of some major crops such as paddy, cotton, wheat and pulses for small and marginal farmers across various social groups. Design/methodology/approach: The cross-sectional field data on socio economic variables was collected from three Indian states from about 400 small and marginal farmers across various social groups using multi-stage stratified random and purposive sampling through a structured questionnaire by interviewing. The method of propensity score matching (PSM) was employed to calculate average treatment effect (ATE) and average treatment effect on the treated (ATET) by categorising sample farmers as treatment group and control group where crop productivity was considered as outcome variable and access to institutional credit was considered as treatment variable. Findings: The PSM estimates reveal that ATE and ATET for all the selected crops are found to be significantly higher for the treated group vis-à-vis non-treated group suggesting that institutional agricultural credit has a statistically and significant positive impact on the crop productivity. Research limitations/implications: Similar study can be extended for more crops and across regions in India for a universal coverage. Originality/value: The agricultural credit policy of India has been to increase the access and availability of institutional farm credit. This has led to in general increase in the flow of formal farm credit to agricultural sector. However, the impact of institutional credit and crop productivity especially for small and marginal farmers across social groups is not well recognized in India using field data. Accordingly, this field data study contributes to the existing research by providing fresh evidence from field across social groups for both kharif and rabi crops using recent survey data from small and marginal farmers which has important policy implications. [ABSTRACT FROM AUTHOR]

The paper investigates the relationship between corporate governance and sustainability performance in the Indian peer-to-peer (P2P) lending market. It seeks to obtain insights on the interaction between transparency and disclosure, platform risk disclosures, dispute resolution process, accountability and fairness, data privacy and security, regulatory compliance, efficiency and access, speed and convenience of application procedure, customer service responsiveness, dispute resolution turnaround time, and sustainability performances. The study analyzes the responses of 350 borrowers from India's top 10 lending businesses. Further, it provides a thorough examination of corporate governance in these organizations using known sustainability theory and structures, and also of corporate governance associated with sustainability performance in P2P lending. [ABSTRACT FROM AUTHOR]

The paper seeks to identify and estimate the effects of knowledge flows and spillovers from R&D, exports, imports and FDI on the productivity of small and medium enterprises (SMEs). The study proposes a modified Cobb-Douglas production function using the CMIE PROWESS database to estimate the effects of knowledge flows of small firms from their own efforts and spillovers. The results are derived from generalized methods of moments estimator (GMM) and the SYS-GMM estimator. The study has been conducted separately for small enterprises (SEs) and medium enterprises (MEs). Knowledge flows from own R&D have unambiguous positive externality. The study presents evidence of a sizable positive spillover from exporting. It does not corroborate the theorized positive impact of FDI spillovers. It contributes to productivity spillover and knowledge management literature in small firms, establishing that R&D and other knowledge flows contribute to productivity through industry-wide spillover effects. The study arrives at a novel understanding of the impact of knowledge flows and spillovers through R&D and trade on SME productivity at the aggregate and disaggregate levels. It also presents counterintuitive results for the impact of FDI spillover on SME productivity. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to establish the factors affecting the financial investment decision-making of an investor, with specific reference to investors' emotions and how various events such as festivals, the pandemic and sports matches affect their investors' investment decision-making. The authors further intend to understand the role of these investor emotions in creating stock market anomalies. Design/methodology/approach: Twenty-nine semistructured exploratory interviews with fund managers from the top 10 asset management companies in India, who deal with individual investors regularly, were taken. The interviews were conducted to identify and describe the underlying ideas and sentiments that influence an individual's investment behavior. Findings: Although risk and return are the primary motivators of investment decisions, fund managers' daily interactions with individual investors are affected by unpredictability and technical ambiguity, and investing is an inherently emotionally arousing process, according to the findings of the in-depth interviews. Originality/value: To the best of the authors' knowledge, this study is one of the first studies in Indian market to report the views of financial professionals about the emotional aspect of investors in making an investment decision. With most of the research conducted using quantitative methods, the current study brings in the perspective of financial professionals using primary data. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between conflict trajectories and years of schooling in India for girls and boys. It adopts propensity score matching methods on panel data from the India Human Development Survey (2004/05-2011/12) merged with conflict data from the South Asia Terrorism Portal. Conflict is measured according to the dynamic trajectory of Naxal violence-related fatalities at the district level, distinguishing areas of chronic conflict with those experiencing dynamism in conflict intensity over time. ATT estimates indicate that conflict is associated with a reduction in years of schooling for both genders, though relatively high for girls (by a quarter of a year for girls and by 0.16 of a year for boys), driven by large reductions in school accumulation for girls living in areas of chronic conflict. Results are consistent when adopting different methods, alternative measures of conflict fatalities, and accounting for other conflicts and selective migration. Examining transmission mechanisms suggest that household spending on girls' education may be de-prioritised amidst conflict, while conflict may also weaken or destroy school infrastructure. Results suggest that policy responses should prioritise girls' education in areas of chronic conflict, not only in 'fragile states' but in countries where conflict remains a subnational concern. [ABSTRACT FROM AUTHOR]

Science, technology, and innovation (STI) policies are crucial for addressing a nation's anguishes and aspirations. In today's era, countries worldwide recognize the significance of innovation for their economic survival. With aspirations to be a global power in innovation, India has emphasized incubation, innovation, startup ecosystems, and triple helix linkages. This paper examines the evolution of India's STI policies, highlighting the influence of domestic and international events on their development. The study focuses on three policy types: direct innovation policies, five-year plans, and national-level educational policies, to trace the milestones in India's policy journey. The authors conclude that changes in the domestic and international landscape significantly impact a nation's STI policies, as exemplified by India. The recent Science, Technology, and Innovation Policy of India 2020 draft reflects an effort to adapt to the evolving global scenario. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to evaluate the relationship of corporate social responsibility (CSR) reporting with the financial performance of firms using various market and accounting-based parameters in a developing economy, India. Design/methodology/approach: The study uses content analysis to develop a CSR reporting index for the Indian firms listed on the Bombay Stock Exchange. The two-step system generalized methods of moments has been used for the estimation of the panel data. Findings: The results from the study suggest that the CSR reporting-based activities of the firms may impact the financial performance of the firms, but at the same time, the need of the hour is to create awareness among the investors and market players so that they realize the relevance of CSR reporting, which can further improve other dimensions of financial performance as well. Research limitations/implications: The study relies on Tobin's Q and return on assets while measuring financial performance, though there are various other parameters that can be used to gauge the performance. The outcomes of this study have practical implications for the practitioners as well as policymakers, incentivizing them to integrate CSR aspects into their decision-making frameworks. Originality/value: To the best of the authors' knowledge, this is the first Indian study to develop a unique index for CSR reporting and linking it with financial performance. This study shall assist the researchers in broadening the scope of CSR studies in India and can be used to draw a systematic comparison with developed nations. [ABSTRACT FROM AUTHOR]

Till now, studies have determined the existence of process innovation using survey data; however, in this paper, we use secondary data to empirically establish its presence in low-tech industries. Our empirical approach consists of data envelopement analysis in the first step followed by regression analysis in the second step. We use a cross-sectional dataset, i.e., Annual Survey of Industries, 2017–2018 for our study. Our results suggest that among Indian low-tech firms, investment in computer equipment and software is the most popular strategy to trigger process innovation followed by investment in plant and machinery. We find that these factors have a greater impact on firms that export products and import inputs, than on firms that export products but do not import inputs. In other words, the export-import orientation of firms induces a differential impact of these factors on process innovation. One policy implication from the study is that government should encourage and incentivize low-tech firms to improve the capabilities of its labour force. This is the first paper in the Indian context that uses secondary data to empirically determine the existence of process innovation in low-tech industries. [ABSTRACT FROM AUTHOR]

This paper illuminates an inventive initiative by Gujarat Technological University (GTU) that encompasses rural development and the cultivation of universal human values within students. Engineering students, specializing in civil and electrical fields, plays a pivotal role, actively immersing themselves in a holistic project. Their involvement entails conducting vital techno-economic and demographic surveys in close coordination with local stakeholders and officials. A vivid illustration of this collaboration is evident through the case study of Jasapar village in Jamnagar, Gujarat. Beyond traditional classroom learning, this initiative offers a transformative real-world experience, fostering indispensable attributes like communication, leadership, teamwork, and empathy through profound community engagement. The project additionally serves as a crucible for technical growth, propelling students to navigate intricate challenges, design sustainable solutions, and bridge technology with societal welfare. As students translate theoretical insights into tangible rural benefits, their ability to innovate, adapt, and resourcefully optimize gains refinement. A significant facet of this initiative lies in its contribution to mitigating rural-urban migration, harmonizing with broader sustainable development objectives. . By synergizing surveys, analysis, and collaboration, students evolve into adept problem solvers and leaders. The initiative's impact extends beyond empowering rural communities with sustainable solutions; it nurtures the early-stage development of universal human values through direct communication with rural India. In this journey, the thought process itself emerges as a driving force, propelling communities towards comprehensive and sustainable development. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to study the spillover effects of foreign direct investment (FDI) on skilled–unskilled wage inequality in the Indian manufacturing industries. Design/methodology/approach: The authors show theoretically with a model of spillover that if foreign firms (receiving FDI) have a negative spillover effect on domestic firms (not receiving FDI), then the level of capital and skilled workers in the domestic firms falls down. Consequently, the authors conduct an empirical analysis by using system GMM estimation technique on the firm-level data of the Indian organised manufacturing sector. Findings: The authors show that wage inequality worsens when there is negative spillover effects like competition spillover or skill spillover effect of FDI in India. Originality/value: To the best of the authors' knowledge, this is the first attempt to measure the various spillover effects of FDI on the wage inequality in the Indian manufacturing industries by using firm-level data. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the relationship between earnings quality and corporate cash holdings in an emerging economy. Existing literature posits that earnings quality is a result of information asymmetry and firms with lower earnings quality increases cash holdings, to shield the firm from future uncertainties. In this paper, the authors propose a 'private benefits hypothesis', which suggests that lower earnings quality is an indicator of opportunism and expropriation of resources in the firm, through tunneling or excessive executive compensations. As a result, firms with lower earnings quality increase cash holdings in their control, to increase their private benefits and to avoid the scrutiny of the external stakeholders. The authors further examine the monitoring role played by institutional investors on cash holdings, with varying degrees of earnings quality. Design/methodology/approach: This study uses an unbalanced panel data sourced from Prowessdx, from 2000 to 2019. The analysis employs 20,231 firm-year observations from 2,421 firms. Earnings quality is calculated following Dechow and Dichev (2002). Findings: Empirical analysis confirms that the firms with higher earnings quality reduce cash. Further, institutional investors reduce the cash holdings in firms with higher earnings quality. Institutional investors effectively reduce the cash only in firms with at least 10% of equity shareholding. The results are robust to alternative measures of earnings quality and endogeneity concerns. Originality/value: This study diverges from the information asymmetry hypothesis in the existing literature on earnings quality and cash holdings and highlights the underlying private benefits hypothesis, that will impact cash holdings. Next, the 10% institutional shareholding is important in the Indian context as it represents the minimum threshold at which block holders can request extraordinary general meetings (Section 100 of the Companies Act 2013) or the involvement of the National Company Law Tribunal (NCLT) (Section 213 of the Companies Act 2013). This study highlights that unlike in Anglo-Saxon economies, institutional investors or other minority shareholders are empowered by the Companies Act 2013 to play a vital role in corporate governance with a mere 10% equity. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the association between parental financial socialization and life satisfaction and the mediating roles of desirable financial behavior in the association between parental financial socialization and life satisfaction of college students in India. Furthermore, this research also explores the moderating effects of parents' socioeconomic characteristics (education, income and professions) in the association between parental financial socialization and desirable financial behavior. Design/methodology/approach: A sample of 1,161 college students was collected in India. Parental financial socialization is measured by direct parental teaching in this study. The first stage moderated mediation model is performed to examine the direct and indirect effects through financial behavior of parental financial on life satisfaction as well as the moderating role of parents' socioeconomic characteristics. Findings: The mediation analysis shows that parental direct teaching is positively associated with young adults' financial behavior, which in turn contributes to their life satisfaction. Furthermore, this study also finds negative moderation effects of parental education on the association between parental direct teaching and children's financial behavior. Originality/value: This study extends the knowledge of family financial socialization in the context of India. Moreover, it examines the mediation roles of desirable financial behavior in the association between parental direct teaching and children's life satisfaction. Furthermore, this paper explores the potential influence of parents' education, income and professions on children's financial behavior and life satisfaction. [ABSTRACT FROM AUTHOR]

Any global economic and financial disturbance affects trade and capital flows of our economy through exchange rate movements. The portfolio balance (PB) approach considers the capital flows as an additional variable explaining the exchange rate movements. This approach assumes domestic and foreign bonds to be imperfect substitutes. The bonds bearing high risk carry comparatively higher return in the form of risk premium. This study attempts to re-examine the empirical soundness of the PB model in respect of Indian rupee/ US dollar (INR/US $) exchange rate. It covers the period from 2000: 1 to 2023:1. Augmented Dickey Fuller test and Phillip Perron tests are used to test stationarity property of the variables. The Ordinary Least Square (OLS) methodology of regression is used for the purpose of estimation. Autocorrelation problem is dealt with by using the Cochrane Orcutt procedure. The PB model is estimated in naïve form as well as in partial adjustment form. The empirical finding shows that the PB model works well in partial adjustment framework rather than in its naïve form with speed of adjustment being three to four quarters. The money supply differential and relative real Gross Domestic Product (GDP) are identified as significant variables whereas the bond holding variable remained insignificant. However, in the long run, the model did not work. It is suggested that the fiscal and monetary policies that enhance capital spending in productive sectors should be implemented to achieve a gradually appreciating exchange rate. [ABSTRACT FROM AUTHOR]

Copyright of Area Development & Policy is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to explore and expand the concept of a marketing system for developing a more dynamic and nuanced understanding of marketing. The purpose of the proposed framework is to extend this literature by making salient and explicit how context, market system and value creation are theoretically interrelated. To accomplish this objective, the authors use the framework proposed by Layton (2019) as the theoretical foundation to acquire insights into the market. Particularly, they investigate how four distinct marketing systems (i.e. anarchy, structured, emergent and purposeful market systems) operate in a developing economy. In addition, the study explores the market's effects of technological advancement, sociocultural influences, historical background and political institutions, as well as the responses of political entities, firms and consumers. Also, the positive and negative effects of the various marketing systems are analyzed. Finally, the authors investigate the changing marketplace in various industrial sectors (e.g. home appliances, food, apparel/fashion and transportation) to provide marketing researchers and practitioners with insights. In essence, the study focuses on the sectors related to everyday consumption. Design/methodology/approach: This analysis uses a theoretical approach to extend the understanding concept of marketing. To examine the numerous market systems in India, the authors use an approach developed by Layton (2007). This theoretical approach is intended to sensitize scholars to critical processes rather than a hypothetico-deductive analysis with a prediction goal (Turner, 1986). Epistemologically, this analysis can be classified as a form of discovery-oriented theory development (Wells, 1993). Findings: Although all four systems (e.g. autarchic, emergent, purposeful and structured) are ingrained in India, their functionality differs from the Western system and among industries. For example, the apparel sector appears more autarchic, but the food industry is more purposeful. How the home appliance market operates demonstrates the transition from an autarchic to an emergent system. The authors also uncover additional environmental factors that impact the four types of marketing systems and moderator roles of governate agencies and nonprofit organizations. The externality and positive outcomes also emerged throughout the analysis. Research limitations/implications: This study articulates the four types of marketing systems and illustrates the environmental factors/antecedents and outcomes for the exchange and value creation. Most importantly, it adds value to the literature by emphasizing the role of government agencies and unrestricted institutions in the mechanism. It also uncovers cultural elements such as spirituality as a catalyst for exchange and value creation. Practical implications: The analysis provides practitioners with insights into operating the firm in India by articulating the industrial differentiations and the exchange/value creation. Specifically, it provides a blueprint for strategic analysis that can be used prior to market entry to increase the likelihood of market entry success by understanding the nuanced differences that lead to significant operational difficulties if not properly prepared for and managed. Originality/value: This study adds to our existing knowledge of marketing from a systemic standpoint. It also broadens and explicates marketing system theory by assessing the uniqueness of developing markets. [ABSTRACT FROM AUTHOR]

Despite a growing literature investigating the effect of gender diversity of CEOs and firm performance, the answer is still unclear. This study estimates the effect of gender differences in ownership and Leadership (CEOs) on firm performance simultaneously. The paper exploits a unique data from more than 9000 Indian firms by using fixed effects and propensity score matching techniques. Findings reveal a positive significant effect of female CEOs on firm performance but no definite effect of female owners on firm performance. The effect is more prominent in progressive and high-sex ratio states in India. Third, the evidence suggests potential payoffs to firms that adopt gender-inclusive policies intended to increase the share of female CEOs in India. Results confirm no bias from unobservable covariates. [ABSTRACT FROM AUTHOR]

Introduction: The Indian healthcare system is evolving towards better healthcare implementation and coverage. However, even today, the health-care system faces several challenges, a few of which are yet to be addressed. The present review is aimed to delineate the past and present healthcare scenarios in India, health-care policies, and other initiatives for achieving universal health coverage (UHC). Methods: A literature search was done on various government databases, websites, and PubMed for obtaining data and statistics on healthcare funding, health insurance schemes, healthcare budget allocations, categories of medical expenses, government policies, and health technology assessment (HTA) in India. Results: The available data indicates 37.2% of the total population is covered by any health insurance of which 78% are covered by public insurance companies. Around 30% of the total health expenditure is borne by the public sector, and there is high out-of-pocket (OOP) expenditure on healthcare. Discussion: Several new health policies and schemes, an increase in 2021 budget for healthcare by 137%, vaccination drives, augmenting manufacturing of medical devices, special training packages, Artificial Intelligence/Machine Learning (AI/ML)-based standard treatment workflow systems to ensure proper treatment and clinical decision-making have been initiated by the government for improving healthcare funding, equity, and access. [ABSTRACT FROM AUTHOR]

This paper develops a Structural Satellite version of the Financial-Macroeconometric Model of India (SSFMMI) to examine whether the surge in Nonperforming Assets (NPAs) in Indian Public Sector Banks (PSUs) post-2015 is due to macroeconomic shocks or better classification of loans and cleaning of bank balance sheets. Specifically, the paper analyses the impact of a rainfall shock, domestic food price shock, world oil price shock, fiscal shock, and monetary shock using counterfactual policy simulations and an out-of-sample forecasting framework to validate the impact of these macroeconomic shocks on NPA levels. The paper's outcomes suggest that the late surges in NPAs are not due to macroeconomic shocks and, therefore, that Indian banks are resilient to such shocks. However, the study reveals that the rise in domestic fuel prices and world food prices can cause a surge in NPAs levels. [ABSTRACT FROM AUTHOR]

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The onus of re-constructing a diverse socio-spatial and economically-prepared urban framework in the design of greenfield cities rests on the foresight of a Master Plan document. The conceptualisations in the making of a 'brand-new city' are challenged with its subsequent realisation. Often, urbanisation doesn't tread its planned course, and contentious dualities of planned vs unplanned persists. In Navi Mumbai, five decades later, small-scale slum-settlements emerge as landscapes of dispossession and inevitable gentrification creating urban ruptures within the city morphology. Navi Mumbai was an expression of India's euphoria as a newly independent nation, exemplified by pragmatic city planning. However, five decades later, the emergence of planning disruptions continues to indicate inadequacies. The paper examines the spatial logics of habitation under changing economic conditions and built-in spatial inequalities. It initiates a discourse on the type of environments planned cities foster towards residents from lower economic and social backgrounds. The key research questions addressed are: How do master plans further socio-economic segregations? What was the impact of neoliberal changes on affordable housing? Points of critique: Navi Mumbai's reliance on 'Euro-American' visions and Fordist planning present several delinkages with adjacent industrial districts, indigenous farming settlements and sensitive ecological edges. The analysis conferred that affordable housing schemes became an unequal instrument of social cohesion, in light of built-in inequities. The Development Plan of Navi Mumbai excluded its original inhabitations-agricultural and fishing villages, a characteristic adopted by several development plans in contemporary Indian cities. Close examination of mechanisms of 'incrementality', as a hall-mark of affordable housing projects, suggests disconnections between designer's vision and dweller's aspirations. [ABSTRACT FROM AUTHOR]

Background. Reproductive tract infections (RTIs) present a substantial health concern for women, especially in developing nations such as India, where inadequate access to proper sanitation and hygiene facilities frequently results in suboptimal menstrual health and hygiene (MHH), exacerbating the risk of RTIs. In this study, we analysed the self-reported prevalence of RTIs among young women in India and evaluated the impact of hygienic menstrual material usage on these RTIs. Methods. The study used information on 27,983 women aged 15-24 years, from the National Family Health Survey (NFHS-5) (2019-21). The prevalence of RTIs was calculated for all the states and UTs of India, and propensity score matching (PSM) technique was used to evaluate the impact of hygienic material use on RTIs among women in India. Results. Every four out of 100 women reported RTIs in India in 2019-21. Notably, RTI prevalence displayed substantial state-level disparities. West Bengal exhibited the highest RTI prevalence at 9.3%, followed by Meghalaya, Arunachal Pradesh, and Himachal Pradesh, all surpassing 6%. In contrast, the lowest RTI rates were recorded in Puducherry at 0.9%, succeeded by Andaman and Nicobar Islands, Odisha, and Jammu & Kashmir, all registering rates below 2%. The PSM analysis revealed that women who utilized hygienic materials during menstruation exhibited a reduced prevalence of RTIs (referred to as the "treated group" with an Average Treatment Effect on the Treated (ATT) of 0.0315) compared to those who did not utilize such materials (referred to as the "control group" with an ATT of 0.0416). Conclusions. The study underscores the critical significance of using hygienic materials during menstruation as a preventive measure against RTIs among women in India. The findings suggest the need for targeted interventions focused at promoting hygienic menstrual materials to reduce the prevalence of RTIs among women in India. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to measure and investigate the determinants of corruption across Indian states. Design/methodology/approach: This research begins by developing a corruption index (CI) based on official data on corruption cases. Second, the authors also create an adjusted corruption index (ACI) using the stochastic frontier modelling approach to address corruption case under-reporting. Third, they use a panel feasible generalised least square (FGLS) technique to discover corruption determinants. Findings: The results show that approximately 77% of corruption cases in India go under-reported, which is a major concern. The results also show that per capita income, government spending, law and order and urbanisation are the important factors affecting corruption at the regional level. Practical implications: The findings of the study emphasise the need to address the huge under-reporting of corruption data. From a policy perspective, the governments need to emphasise factors like per capita income, government spending, law and order and urbanisation to tackle corruption in India. Originality/value: Corruption is a complex global phenomenon, and several studies have conducted detailed research on the causes of corruption at all levels (regional and cross national), but this study differs from previous studies in the following ways. First, the authors used a more objective measure of corruption by developing a CI at the state level. Second, the study uses stochastic frontier analysis, which is novel in the literature on corruption analysis, to address the most critical component of under-reporting in corruption data. Finally, the study attempts to examine the factors of corruption at the regional level, which is again innovative in nature. [ABSTRACT FROM AUTHOR]

Global investors have recently turned their attention from traditional financial transactions to environmental investments. Numerous investors around the world are interested in corporate initiatives tackling global concerns including, climate change, work equity, and poverty eradication in addition to economic ones. According to surveys, millennials are more likely to acquire a product from a company that has a positive reputation in terms of the environment and society. With the idea that businesses that follow ethical, environmental, social, and regulatory practices can access financial services, investors are actively considering ESG investment prospects. ESG investing has increased recently in India. Nevertheless, this may just be the initial phase, as greater stakeholder knowledge about the significance and benefits associated with sustainable investments in emerging economies is vital. The intent of the current study intended to gain an understanding of investors' perceptions of environmentally friendly practices and how they affect their investment choices given the context of the aforementioned backdrop. According to our research, investor attitudes that are impacted by ESG perception result in investment decisions, and ESG activities can serve to control the relationship between ESG activities and investment decisions. For investors to have a favorable attitude, it is also essential that they are aware of the company's contribution to environmental protection. Therefore, it is advised that practitioners create strategies and choose a variety of platforms (such as advertisements, social media, or the corporate website) for disseminating the business's environmental initiatives. The results showed that the association between investment choices and investor attitude is mediated by investor attitude. Inspite of the impact's limited scope, it should be taken into account. [ABSTRACT FROM AUTHOR]

Motivation: The development of human capital is a priority for most nation states, accelerated by the COVID‐19 global pandemic. In the context of reimagining a "new normal" post‐COVID, we reconsider the concept of human capital, and focus on knowledge, skills, and training of individuals in order to capture aspects of inclusive development. Purpose: This paper shows how the perspective of women, informal sector workers, representing some of the most marginalized workers in society, informs and improves our understanding of human capital and its development and utilization. Methods and approach: Our findings are derived from field‐based research conducted over the summer of 2021 in which multiple (virtual) focus group discussions (FGDs) were held with selected members of the Self‐Employed Women's Association (SEWA) in India. Findings: Through our FGDs, the participants provided new perspectives and insights into our knowledge of human capital, emphasizing the importance of social protection programmes, gender equity, ongoing training opportunities, decentralized supply chains, and income security. Perhaps most significantly, the benefits accrued to women through being organized have been key to unlocking their human capital potential. Policy implications: Our research highlights themes that are often overlooked in the literature or are beyond the scope of more narrow conceptualizations of human capital. We show that human capital is tightly interwoven with other forms of capital (community assets), and hence efforts to build the former cannot be achieved in isolation from attending to the latter. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to empirically examine the performance of the high-ESG (environment, social and governance) portfolio vis-à-vis the low-ESG portfolio at the Indian stock market before and during the Covid19 pandemic. Design/methodology/approach: The absolute rate of return and several risk-adjusted performance measures, for instance, Sharpe ratio, Modigliani–Modigliani measure, Treynor ratio, Jensen's alpha, information ratio, Fama's decomposition measure and Fama and French's three-factor model, have been used in this study along with the t-test. Findings: All three indices (CARBONEX, GREENEX and BSE 500) had better returns during Covid19 period as compared to the pre-Covid19 period. However, these returns were not statistically significant. During Covid19, the risk of the indices also rose, but they provided better returns for the additional risk taken. Finally, it is concluded that the performance of high-ESG and low-ESG stock portfolios did not differ significantly in both periods. Practical implications: The study is relevant to individual and institutional investors, financial advisors, portfolio managers, corporations, policymakers, market regulators and society at large. Social implications: This study emphasized the need to expand the role of ESG investment in India for the benefit of people, communities and society as a whole. Originality/value: This research is the first of its kind, to the best of the authors' knowledge, that compares the performance of a high-ESG portfolio with a low-ESG portfolio both before and during the Covid19, particularly in the Indian context. [ABSTRACT FROM AUTHOR]

Prior research on the relationship between financial resource availability and corporate social responsibility (CSR) has presented contrasting theoretical arguments and evidence. While the relationship has been theorized to be positive in developed countries, it has been argued to be negative in emerging economies due to institutional differences. However, prior theorization in the context of emerging economies has failed to consider the possibility of a non-monotonic relationship between financial resources and CSR. Although due to the high costs of obtaining external finance in emerging economies, firms may choose to prioritize capital retention over engaging in CSR activities when financial resource availability is low, this behavior is likely to change beyond a point when the level of available financial resources has crossed a reasonable threshold. In this paper, we develop this perspective and predict a U-shaped relationship between financial resource availability and CSR in emerging economies. We test and find support for this prediction on a sample of the top 500 listed firms in India. Further, we also predict and find that three dominant ownership structures (i.e., family ownership, business group affiliation, and state ownership) differentially condition this relationship. [ABSTRACT FROM AUTHOR]

Purpose: The Million Farmers School (MFS) program—also known as Kisan Pathshala was launched to impart training to the farmers by the government of the state of Uttar Pradesh (India) in December 2017. This study estimates the impact of training on agricultural knowledge of the farmers. Design/methodology/approach: The study is based on household survey conducted in Uttar Pradesh (UP), India, during March–May 2019. The authors employed matching methods, the two-stage least square (2SLS)-residual and endogenous switching regression approaches to control for selection bias and endogeneity. Findings: The results suggest that knowledge outcomes are significantly better among participants vis-à-vis non-participants. The results are robust to different model specifications. Further, the benefits are observed across different regions and social groups. Research limitations/implications: The MFS program can go a long way in enhancing agricultural know-how and the farmers' economic well-being, bringing a transformative change in the agricultural landscape of UP. Originality/value: This study is based on a field survey data and analyzes various aspects of the program's impact, design and implementation, and offers implementation advice for greater efficacy in future. [ABSTRACT FROM AUTHOR]

In September 2018, the second wave of #Metooindia resumed in India, opening up conversations on sexual assault. Surprisingly, this did not lead to the inclusion of sexual assault as a key campaign issue in the Indian parliamentary elections in early 2019. This study investigates the underlying role of news media and social media in building an anti-sexual assault agenda in the 2019 Indian Lok Sabha election campaign. It builds on past literature on rational choice decision-making theory, social media activism and rape as a political issue in campaigns. This mixed method study includes the analysis of political manifestos and Facebook posts during the campaign, news articles published in the two most circulated English newspapers in India and interviews with political journalists. The restrained mainstream media coverage of sexual assault and pan-Indian social media platforms helped to limit the issue from becoming a part of the campaign during the elections. [ABSTRACT FROM AUTHOR]

The Goods and Services Tax (GST) was introduced to simplify the tax system by eliminating the cascading effect of multiple taxes, leading to uniform tax rates across states and the creation of a unified market for goods and services. This research aims to investigate how the implementation of GST has impacted the productivity of India's retail industry. By replacing various indirect taxes, GST streamlined the tax structure and aimed to promote ease of doing business, reduce compliance burdens, and potentially boost productivity in the retail sector. The study examines different aspects, including tax structure, supply chain efficiency, tax evasion, small and medium enterprises (SMEs), tax compliance, and consumer prices, to assess the overall effect of GST on the productivity of the retail business. [ABSTRACT FROM AUTHOR]