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Purpose: Emerging economies are dominated by an unorganized retail landscape, with complex sociocultural norms dictating the behavior of retailers and customers. The purpose of this paper is to explore the phenomenon of consumer embarrassment in an emerging marketing, India. Design/methodology/approach: This research adopts a grounded theory approach and undertakes 31 in-depth interviews with consumers in India. The data is analyzed inductively and iteratively simultaneously with data collection. Findings: The study uncovers that sociocultural normative influences, the retail environment's structural constraints, interaction-based buying processes and customers' perceptions play a role in eliciting embarrassment in traditional stores. The traditional format retailers play a significant role in evoking embarrassment and, surprisingly, also in facilitating coping. Contrary to the extant findings, purchasing embarrassing products online may not ensure anonymity and elicit embarrassment. The findings contribute to understanding the phenomenon of embarrassment in emerging markets. Originality/value: There is a dearth of research examining consumer embarrassment in emerging markets, with extant studies investigating the phenomenon in the modern retail setup of developed economies. The retail landscape of India is predominantly unorganized, with distinct transactional processes and physical characteristics that are starkly different from modern retail stores. Moreover, sociocultural normative forces have distinct influences on the informal setup of unorganized retail. [ABSTRACT FROM AUTHOR]

Purpose: The aim of this paper is to explore the internationalization of digital platform firms, specifically to investigate the advantages digital platform firms build during the internationalization journey, which helps them overcome the liability of foreignness. More importantly, drawing on network theory and Luo's framework of new OLI advantages, a new framework of Platform OLI (P-OLI) advantages is developed for digital platform firms. Design/methodology/approach: This study adopts a multi-case method to empirically understand the internationalization phenomenon of digital platform firms in the emerging economy of India, which is a less researched area. Twenty semi-structured interviews from top executives of 12 Indian headquartered digital platform firms were inductively analyzed based on Gioia's method, and a cross-case examination was conducted to explore the respondent firm's internationalization journey. Findings: Several novel open resource and linkage advantages were identified for digital platform firms that are not covered by the new OLI advantages proposed by Luo. Furthermore, a new "I" advantage, which is information and knowledge advantage, has evolved from the data. This resulted in enhancing the scope of the new OLI framework and network theory and further enabled us to develop the P-OLI framework, a new framework for digital platform firms that reflects the specific advantages a digital platform firm builds during internationalization. Originality/value: This is the first study which evaluates the new OLI framework from the perspective of a digital platform firm to develop a novel framework, P-OLI. Further, this study is among the few studies with an Indian digital platform firm focus and relies on primary interview data to study digital platform firms' internationalization phenomenon. [ABSTRACT FROM AUTHOR]

Purpose: With a growing demand for safe, clean and affordable energy, emerging economies (EEs) across the globe are now seeking to create and rapidly develop renewable energy (RE) businesses. The success of these businesses often hinges on their ability to translate RE into sustainable value for energy consumers and the multiple stakeholders in this industry. Such value includes low production costs due to an abundance of natural resources (e.g. wind, water and sunlight) and public health benefits from reduced environmental pollution. With that in mind, this paper aims to gauge RE's potential for sustainable value creation and then develop an effective RE business strategy. Design/methodology/approach: This paper develops a structural equation model, conducts an exploratory factor analysis, confirmatory factor analyses with and without common latent factors and proposes a moderated mediation analysis to identify a host of factors that influence the success of RE businesses. Findings: This paper discovers that RE business performance is significantly affected by integrated vision, intellectual capital and social capital. Originality/value: To the best of the authors' knowledge, this paper is one of the first empirical studies that identify various factors influencing successful RE businesses in EEs such as Asian (e.g. China and India) and Latin American countries. [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 cryptocurrency adoption (CA) level among Indian retail investors who use cryptocurrency as an investment and mode of transaction. Design/methodology/approach: Through self-administered survey questionnaires, data is collected from 397 retail investors of Haryana (India). This study adopted a quantitative method using partial least squares structural equation modeling (PLS-SEM). Findings: This paper offered a robust model with a high explanatory value for CA in which four of the five proposed factors of diffusion of innovation theory (trialability, compatibility, complexity and observability) and one of the two proposed factors of consumer behavioral theory (perceived value) significantly influences CA. More specifically, the absence of regulatory support is a barrier to the broad adoption of cryptocurrencies, as its regulations are necessary to mitigate or minimize uncertain outcomes. Research limitations/implications: This research primarily focuses on CA in India. Thus, it can be extended to cover diverse other countries for more precise results. Practical implications: The results provide insights to the government to design the policies, better regulate and make investment strategies that can ultimately enhance CA. In addition, the study's results also inform financial educators, policymakers, employers and academicians about the significance of several variables affecting CA in India. Social implications: From a social standpoint, this study is an advance that directs central banks and governments to develop, regulate and manage digital currencies and implement a digital currency ecosystem. Moreover, the results assist in understanding investors' perceptions and decision-making perspectives toward cryptocurrencies through the country's digitalization. Originality/value: This paper fills the study gap to assist policymakers and cryptocurrency experts in broadening their knowledge base and recognizing prioritized intentions. Additionally, this study provides a theoretical model with the latent variable for a present and pertinent matter. [ABSTRACT FROM AUTHOR]

Purpose: Brand crowdfunding, launched through brands' social media platforms, can provide a myriad of crowdfunding and branding benefits, such as strengthening brands' social networks, validating product launches, generating mass exposure and enabling cocreation. Gamification positions brand crowdfunding as an exciting and joyful activity that more deeply engages prosumers. Anchored on resource-based theory, theory of planned behavior and service-dominant logic, this paper aims to develop a brand crowdfunding framework for established brands with insights from two emerging markets: China and India. Design/methodology/approach: A deductive cross-sectional design is used to gather data from an established brand's (e.g. Xiaomi) social media followers in China (n = 826) and India (n = 358), which is analyzed through PLSc-SEM. Findings: The results reveal that social media brand engagement is an antecedent of brand crowdfunding participation, brand crowdfunding intention is a predictor of brand loyalty and gamification is a significant moderator in technology-oriented societies. Originality/value: The paper develops a brand crowdfunding framework that provides insights on how established brands can leverage crowdfunding to enhance their new product development process. The results contribute to the social media brand engagement, crowdfunding, gamification and emerging markets literature. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to undertake a comprehensive comparative analysis of Sharīʿah-compliant equity investments (SCEIs) and their non-Sharīʿah counterparts, in India, conditioning for investment horizon and market volatility. Indirectly, it also investigates for time varying performance of SCEIs, and explicitly analyses the unsystematic risk and related adequacy of returns. Design/methodology/approach: Testing for statistical significance of differences in risks and returns; analysing portfolio performance using conventional metrics, information ratio, and Jensen's Alpha; Estimating returns due to stock selection and market timing using Fama's Net Selectivity and Treynor and Mazuy's Models. Findings: SCEIs in India do not significantly differ in their total risks and returns compared to their conventional counterparts. While their risk is lower in the monthly and quarterly investment horizons, their Jensen's Alphas are positive only in the annual investment horizons. These findings hold, when market volatility is low. Market timing wipes out the superior returns that exist due to stock selection in SCEIs. Research limitations/implications: Being Sharīʿah-compliant is beneficial only in longer investment horizons. Asset selection, not co-movement with the market, is key to excess returns to compensate for risks due to inadequate diversification. However, only cautious market timing can conserve them. Practical implications: Though investors are not better-off in choosing ethical investments, they are not worse-off either. Being Sharīʿah-compliant is rewarding during less volatile markets. Originality/value: This paper extends international literature on SCEIs, with evidence on the impact of investment horizon and market volatility on their returns and risks. Further, this paper is also a comprehensive analysis of Indian SCEIs, broadening the empirical evidence on a significant, non-Islamic and emerging market. [ABSTRACT FROM AUTHOR]

Purpose – The paper aims to study how deal- and bargaining-prone customers are different from each other. This paper brings out this difference based on psychographics encompassing values – consciousness, price mavenism and personality orientations – needed for special treatment (distinctiveness and play). Design/methodology/approach – The measurement model was assessed using both exploratory factor analysis and confirmatory factor analysis. The structural model was tested using structural equation modeling. Findings – This paper finds that value consciousness is a two-dimensional construct in the Indian context. This construct comprises two dimensions of value consciousness, including concern for price and concern for quality. The authors find that deal-prone customers are value conscious and price mavens. Bargaining-prone customers are value-conscious price mavens and have a high need for special treatment (play). Play orientation distinguishes between a deal-prone and a bargaining-prone customer. Research limitations/implications – The study was limited to grocery products. The consumers surveyed were urban and educated Indians. Practical implications – With the Indian markets being opened for Western retailers, it is imperative to study the Indian consumers. It is important to understand why the local neighborhood store is able to retain its customer base even when the organized fixed-price formats have been around for approximately 20 years. Originality/value – This is one of the few papers that tries to understand the Indian consumer’s buying behavior, especially with respect to their haggling nature. This paper further develops our understanding of the “deal proneness” and “bargaining proneness” constructs. The authors also study their differences based on psychographics. [ABSTRACT FROM AUTHOR]

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]

Purpose: This paper uses social identity theory to investigate the sequential mediating effects of extrinsic religiosity and perceived role of religious leaders in the impact of consumers' intrinsic religiosity on perceived value of brands endorsed by religious leaders. Design/methodology/approach: This paper comprises two survey-based studies with urban consumers in two emerging markets, India (N = 303) and Indonesia (N = 150). Findings: Intrinsic religiosity has a direct positive effect on extrinsic religiosity, which in turn mediates the effect of intrinsic religiosity on the perceived value of the brands endorsed by religious leaders in both India and Indonesia. However, extrinsic religiosity has a significant positive effect on the perceived value of these brands through the perceived role of religious leaders in India but not in Indonesia. Research limitations/implications: Samples for both the studies are drawn from urban consumers in India and Indonesia, which also have large rural populations. Hence, future research may use both urban and rural samples from other countries to replicate our results. Practical implications: The study findings may help both local and global brand managers in the emerging markets with religious societies, such as India and Indonesia, to understand how they may use endorsements by religious leaders to manage the differences in the impact of consumers' intrinsic versus extrinsic religiosity on their brand perceptions and evaluations. Originality/value: This paper extends social identity theory to the international marketing context by showing that religious consumers in the emerging markets are likely to support the brands endorsed by religious leaders vis-à-vis other national or multinational brands. Thus, religious identification offers a unique sacred worldview and unlimited group membership, unlike other social groups, especially in the highly religious emerging markets. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the explanatory power of the Fama-French five-factor model and compares it to the other asset pricing models. In addition, the paper examines the contributions of two additional factors: profitability and investment factor. The authors test the alternative four-factor models. Design/methodology/approach: The authors use stock returns data of BSE-500 listed firms for the Indian market, an emerging market, from 1999 to 2020, thus covering the post-Asian crisis and pre- and post-financial crisis (2007–2008) periods. The authors employ 75 and 96 portfolios based on different factors. To check the performance of asset pricing models, the authors also used the GRS F-statistics and factor spanning tests. Findings: The authors find that the five-factor model and alternative four-factor model outperform the three-factor model. Contrary to the findings for the US, but similar to the Chinese stock market, the value factor is significant for the Indian stock market. Simultaneously, the authors also find that the investment factor has no explanatory power in the presence of the profitability factor in their sample. Originality/value: To the best of the authors' knowledge, this is the most comprehensive study using data more than two decades. These results are based on 75 (25 × 3) portfolios based on size, value, profitability and investment. The authors also tested these results based on 96 (32 × 3) portfolios to check robustness, and these results still hold. Furthermore, the authors find that factors based on 2 × 3 sorting have higher explanatory power than those based on 2 × 2 and 2 × 2 × 2 × 2 sorting. [ABSTRACT FROM AUTHOR]

Purpose: The main purpose of this paper is to empirically investigate the effect of macroeconomic uncertainty on environmental degradation in India over the period 1971–2016. Additionally, this paper considers the role of financial development, energy consumption intensity and economic growth in explaining the variation of environmental degradation in India. Design/methodology/approach: The authors applied the power generalized autoregressive conditional heteroskedasticity model to measure inflation volatility and used it as a proxy for macroeconomic uncertainty. From a methodological perspective, the authors employ the autoregressive distributive lag bound testing model to establish the long-run equilibrium association between the variables. The Toda–Yamamoto causality approach has been used to examine the direction of causality between the variables. Findings: Findings suggest that macroeconomic uncertainty exerts a positive effect on carbon emissions, indicating that higher inflation volatility, as a proxy for macroeconomic uncertainty, hinders India's environmental quality. Financial development, economic growth and energy consumption intensity have also adversely impacted environmental quality. Practical implications: The negative association between macroeconomic uncertainty and environmental degradation calls for some stringent policy actions. While formulating policies to promote growth and maintain stability, policymakers and government stakeholders should take into account the environmental effects of macroeconomic policies. There is a need to implement more environmental-friendly technologies in the financial sector that could reduce carbon emission. Originality/value: To the best of the authors' knowledge, this study is the first that considers the role of macroeconomic uncertainty along with financial development and energy intensity in an emerging economy like India. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to extend existing theories and fills research gaps regarding the acceptance and use of new technologies by consumers by exploring the adoption of app-cab services in India. Through the application and comparison of a unified theory of acceptance and use of technology (UTAUT) and UTAUT 2/expanded-UTAUT (E-UTAUT) models, this paper empirically tests the relationships between important constructs related to technology adoption, acceptance and utilization in India's emerging economy. Design/methodology/approach: In total, 612 responses to a questionnaire of active and regular users of app-cab services in India are examined. Path analysis and structural equation modeling presents interesting findings indicating that the expanded models have huge implications for the Indian app-cab industry. Findings: This paper finds that the UTAUT 2/E-UTAUT models are a good fit for consumers and their behavior toward technology-based services. In particular, this study, one of the first of its kind, examines consumer acceptance and use behavior and identifies the factors that influence customer behavior with regard to new technology (app-cab services) in an emerging economy (India). Theoretical and practical implications are discussed. Originality/value: Very few studies are available on app-cab adoption in emerging economies. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to investigate the significance of board gender diversity (BGD) on the firm's intellectual capital (IC) performance of 272 Indian firms listed on the National Stock Exchange during 2007–2019. Considering the recent regulatory amendment by the Indian regulatory system (Security Exchange Board of India, 2018) which mandates at least one female independent directors on boards of all listed companies. Design/methodology/approach: Based on theories and literature reviews, hypotheses were developed. This paper uses the proportion of female director on board and proportion of female independent directors to measure BGD and modified value-added intellectual coefficient (MVAIC) methodology to measure firms' IC performance. Two-step system-generalised method of moment panel data regression analysis has been employed to identify the variables that significantly affect IC performance. Findings: This paper finds female representation on boards has a significant impact on MVAIC; capital employed efficiency shows the strongest association with female directors on board, followed by structural capital efficiency and human capital efficiency, while relational capital efficiency shows no significant effect. The results further demonstrate that female independent director has a significant but negative impact on IC. Research limitations/implications: As the study is limited to the listed firms of an emerging economy with a mandatory female quota for boards. Thus to increase the generalizability of findings, future research can be extended to include all listed and non-listed firms from another emerging economy with a mandatory female quota. Practical implications: From the practical perspective, this study bridges the gap between theory and practice in terms of providing a deeper understanding to the policymakers and Indian regulatory bodies like the Ministry of Corporate Affairs and Securities Exchange Board on the importance of including female members on board as a vital contributing factor for leveraging firm's intangible performance. Originality/value: Using resource dependency theory and agency, this study extends the literature on IC efficiency and female representation on boards by presenting the research outcome for Indian listed firms. This paper, addressing the recent changes introduced by Indian regulators and using the female independent directors on board, is amongst the first attempts to assess the relevance of BGD and IC performance. This issue has still not been discussed and analysed by researchers in India. [ABSTRACT FROM AUTHOR]

Purpose: Understanding societal expectations of a leader's responsibility and context-specific challenges in less-researched emerging economies has become imperative for foreign Multinational enterprises (MNEs) to survive in these contexts while developing globally responsible leaders. Identification of institutionally sanctioned characteristics, competencies and strategies that assist leaders in dealing with such challenges while achieving shared value has wider implications for academics, practitioners and the literature on responsible leadership (RL), which is the purpose of this paper. Design/methodology/approach: The authors conducted in-depth interviews of 28 senior indigenous leaders in 3 Indian Multinational corporations (MNCs) in construction sector, following a grounded theory approach. Findings: The authors identified three vital institutionally driven challenges and four individual-level societal-driven factors, subsequently influencing leaders' strategic decisions and choices to deal with such challenges beyond passive conformance. Contrary to the previous findings, this study also briefly discusses that a mere ethical climate is insufficient; organizations must develop a holistic values climate that works as contextual factors to influence RL. Originality/value: Contrary to the previous findings suggesting Indian leaders' conformance to constraining forces to RL, by adopting a multilevel approach, the authors identify the context-specific strategic behaviors that responsible leaders adopt in dealing with such forces responsibly. Thus, it is the first multilevel inductive approach conducted in a non-Western context, offering a discrete understanding of RL while addressing some of the inconsistencies in the literature and contributing to cross-cultural leadership research. Also, findings highlight the factors of RL that are more emic and etic for generalization. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to provide relevant knowledge about entrepreneurship and women's leadership in the Indian context. More specifically, it unleashes the veiled challenges as well as success stories of select women entrepreneurs of a developing country to bridge the gap between entrepreneurship theory and practice. It aims to provide directions to the policymakers, educationists, society and families in creating a conducive environment that is essential for the success of women entrepreneurs. Design/methodology/approach: With a qualitative case study approach, data were collected from Tamil Nadu, a southern Indian state which has a maximum number of women entrepreneurs. Face-to-face interviews were conducted to explore the supportive as well as challenging dimensions of their entrepreneurial journey. Findings: Content analysis of the interview transcripts indicated that successful entrepreneurs are opportunity-driven and they focus on innovation, service, generation of wealth and employment. Support from family, especially from fathers or husbands, is as important as the entrepreneurial drive, skills and abilities of an entrepreneur. Success for them is being happy, thriving work, having a happy family, having a great work-life balance and the satisfaction to have served society apart from being independent (economically/ financially). Among India's societal and cultural realities, women have to conquer many hurdles (both implicit and explicit) in their way concerning the societal attitudes toward women stepping out of the home boundaries and traditional gender role expectations. The silver line is societal attitudes are changing, especially in urban India. There are enough support and encouragement from the family, which helps these women pursue their passion and eventually become a successful leader. Social implications: The success stories of women will bring a wave of positive developmental change in India by fostering respect for women in a male-dominated society and flashing the importance of women's entrepreneurship. Originality/value: This paper provides a new examination of women entrepreneurs that significantly further the debate about the underrepresentation of women in leadership roles, especially in entrepreneurship in an emerging economy context like India. Apart from the deterrents, it aims to highlight the enablers and motivations to choose this unconventional profession. [ABSTRACT FROM AUTHOR]

Purpose: The objective of this paper is to investigate the role of information asymmetry in the equity selling mechanisms chosen by the firms from an important emerging market, India. Specifically, the authors look into the choice between the two most popular mechanisms of equity issues – rights issue and private placement of equity. Design/methodology/approach: This study introduces three analyst specific variables as proxies of information asymmetry as the conventional proxies are fraught with several disadvantages. First, the paper tests the choice between rights issue and private placement using a binary logistic model. In the second approach the authors use rights issue and segregate the private placements into preferential allotments and qualified institutional placements and test the impact of information asymmetry using a multinomial logistic regression. Findings: The outcome of this empirical exercise shows that only those firms facing lesser information problems choose rights issue of equity. Private placements are chosen by firms facing higher information problems to circumvent information costs. The results remain invariant even after segregating the qualified institutional placements from private equity placement as the firms with information disadvantage choose to place equity privately. Originality/value: In contrast to the conventional studies that focus on the debt-equity framework, the authors argue that the impact of information asymmetry is applicable even at disaggregated levels of equity selling mechanism. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to evaluate empirically the perceptions of the stakeholder regarding their relevance based on their perceived preference in terms of climate strategy proactivity (CSP) which is an outcome of the importance and influence of the category of the stakeholders of Indian companies. Revolutionized by the liberalization–privatization–globalization, the practices and strategies of the companies in the developing country such as India have been marked by dynamic changes in the several past decades. In these circumstances, it has become imperative to understand the relevance of the stakeholders in terms of CSP displayed by these companies to seek help in developing appropriate strategies in the emerging competitive market. Design/methodology/approach: This paper used a research design comprising descriptive analytical method using non-probability purposive sampling method to collect data from a sampled 701 respondents representing eleven categories stakeholders, with the help of a cross-sectional, self-administered online survey questionnaire. Findings: The findings of the study detail the evaluation of the stakeholders relevance based on their perceived preference in terms of CSP attaching significance to the stakeholders' perception as a useful tool. While the findings hint at the incessant growth of stakeholder awareness urging corporations to analyze effects and adopt appropriate strategies in developing countries, they also evaluate empirically the perceptions of the stakeholder regarding their relevance based on their perceived preference in terms of CSP which is an outcome of the importance and influence enjoyed by the category of the stakeholders of Indian companies. The findings confirmed the adequate level of awareness of the stakeholders of Indian companies responsible for making them adopt CSP. Research limitations/implications: This study had the limitations such as collection of information through a self-reported questionnaire which might have the impact of self-bias despite all the preventive and corrective measures, and the risk of creation of a subjective viewpoint due to the assessment of the perceptions of varied stakeholders. Nonetheless, meeting the objective of this study, the study succeeds in providing a stakeholder perspective to the existing body of knowledge with respect to CSP, a stakeholders-centric concept which is in infancy in the context of developing countries and their corporations. Originality/value: The paper is original as it adds value by providing empirical evidence from the perspective of different stakeholders, including but not limited to managers or shareholders only, like majority of previous studies. By doing so, it successfully attempts to contextualize them indicating the need to unlock huge potentialities and substantial significance for other developing countries. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to explore the perceptions of self-initiated professional expatriates about their subjective/intangible and objective/tangible successes in both home and host countries. Design/methodology/approach: This is an empirical study using a survey methodology that included a sample of 211 (Male = 120 and Female = 91) employed professionals from India. Structural equation modeling, ANOVA and t-tests were used to analyze the data. Findings: This study is unique in examining a sample from a homogeneous population from one country with one segment deciding to be SIEs while the other segment decided to return to their home country. The application of personal initiative (PI) theory and the theory of intrinsic motivation to SIEs is also relatively new. The focus on female professional SIEs from an emerging market to an advanced economy adds value to this study. The results have implications for employers and policy makers as well as US universities. Originality/value: This study is unique in examining a sample from a homogenous population from one country with one segment deciding to be SIEs while the other segment deciding to return to their home country. The application of personal initiative (PI) theory to SIEs is also relatively new. The focus on female professional SIEs from an emerging market to an advanced economy adds value to this study. The results have implications for employers and policy makers as well as to US universities. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the impact of board characteristics on CEO turnover performance relationship (TPR) in Indian listed firms. Design/methodology/approach: A subset of the Standard and Poor's Bombay Stock Exchange 500 (S&P BSE 500) Index companies was analyzed over the period 2015–2019 using the logistic (fixed-effects) regression model. Findings: It was found that a weak relationship exists between CEO turnover and firm performance. With respect to board characteristics, board size was found to have a significant role in strengthening the TPR. However, other characteristics, such as board independence, multiple directors, board meetings and board gender diversity, played no role in influencing the TPR. Research limitations/implications: First, the study period is limited to five years, during which several sample firms did not face any CEO turnover event leading to small sample size. Second, this study considers only the board's gender diversity, whereas other types of diversity are omitted. Third, this study does not differentiate between insider and professional CEOs. Practical implications: The findings suggest that regulators should focus on the effective enforcement of laws to strengthen the TPR and improve the monitoring role of boards, particularly in emerging economies like India, which face type II agency problems in addition to traditional principal–agent conflict. The results also offer implications for corporations, investors and academic researchers, highlighting areas that need considerable attention pertaining to corporate governance. Originality/value: This study discerns the impact of several board-related characteristics on the TPR, particularly after the introduction of the new Companies Act 2013 in the emerging economy of India, where it has not been explored extensively. [ABSTRACT FROM AUTHOR]

Purpose: The current study aims to identify the impact of financial literacy, financial risk-tolerance, financial socialization, financial stress, socio-demographic factors and financial behavior on the individual financial wellbeing residing in India's National Capital Region (NCR) region. Understanding financial wellbeing is crucial as it helps individuals understand personal finance better and develop a more favorable financial attitude. The information can depict individuals' financial skills, knowledge and attitudes toward achieving financial wellbeing in emerging economies. Design/methodology/approach: Through self-administered survey questionnaires, data are obtained using convenience sampling from 420 (394) respondents regarding individual financial wellbeing levels in India. The survey responses were collected between May 2022 and July 2022. The authors use the "partial least squares structural equation modeling" (PLS-SEM) technique to test the research hypotheses. Findings: The present study's outcome confirms that five determinants, such as financial literacy, financial risk-tolerance, financial socialization, financial stress and socio-demographic factors, significantly influence the financial behavior of individuals. Further, financial behavior, financial literacy, financial risk-tolerance and financial socialization significantly influence financial wellbeing. However, financial stress and socio-demographic factors have statistically insignificant impacts on financial wellbeing. Originality/value: The present study is exclusive in which an effort is being made to acquire relative importance on financial behavior and an individual's financial wellbeing. The present paper will help the government, financial services providers, and policymakers in offering innovative economic schemes and designing policies that may enhance the financial wellbeing of individuals. Finally, this article provides the road map for future research in this field. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the factors that lead to the failure of startups in India and proposes a 'Four Dimensional (4D) Strategic Framework' to drive success. Design/methodology/approach: This study is exploratory and uses a narrative analysis methodology to analyse the accounts of key startup stakeholders – founders, investors, former employees and consumers; to identify their failure factors. A conveniently selected sample of 165 startups was studied to understand better the reasons for their failure within a thematic framework developed from David Feinleib's (2012) handbook "Why Startups Fail". Findings: Results indicate that a dearth of capital or running out of money and inadequate sales and marketing strategy, which leads businesses to fall behind rivals and lose money on each transaction, are the most common factors for startup failure in India. Originality/value: "Startups" are substantial for emerging economies like India because they fuel technological innovation and economic progress and provide for the modern workforce's needs and aspirations. However, they seem to be typically unprofitable, with a modest probability of survival. Subsisting studies mainly focus primarily on success factors and very few on why startups fail, with significant disagreement on an appropriate methodology. To the best of the authors' knowledge, this is the first study that analyses failure factors of Indian startups using narrative analysis of its key stakeholders. It aims to aid the conception of profitable entrepreneurship by reducing the failure frequency in the startup and small business ecology. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to explore the attributes and systemic characteristics of organisational innovativeness types in sustainability oriented firms in India. In dynamic business environment amid sustainability challenges, benchmarking organisational innovativeness of sustainability oriented firms may pave a way for many other firms to develop suitable strategies. The paper also presents the role of innovativeness in risk-management. Design/methodology/approach: A questionnaire-based survey was conducted to gather the responses from 689 managers of 60 firms operating in India and displaying traits of sustainability orientation. Generic organisational innovativeness characteristics of these firms are presented based on result of factor analysis and variances explained by respective factors. Innovativeness characteristics have been discussed in context of sustainability and environmental management. Findings: Study provides the glimpse of variability in steps taken by firms to remain competitive in current and future markets. The paper also offers a new factor of organisational innovativeness as "risk-innovativeness" and presents its role in disruptive and sustainable innovation. Research limitations/implications: The study adds to existing literature by providing a measure of organisational innovativeness types and proposes a definition of "risk-innovativeness" and opens a new avenue for further exploration. Practical implications: The study may help organisations operating in emerging economies to benchmark and develop attributes of organisational innovativeness types considering sustainability challenges and uncertain market conditions. Social implications: The study may guide other firms to benchmark their current innovativeness standing and may help in developing suitable attributes leading to combat negative impacts of climate change by developing sustainable innovations. Originality/value: There are no existing studies which offer organisational innovativeness types of sustainability oriented firms, especially in emerging and developing economies context. [ABSTRACT FROM AUTHOR]

Purpose: In the present era, research data is a concern for researchers, as they are trying to find new ways to communicate their research findings and conclusions to other researchers in order to increase visibility and credibility. BRICS nations are fast emerging economies and contribute significantly in research output. This study makes an effort to analyze and explore the role of BRICS nations towards open access research data repository registered with Registry of Research Data Repositories. Design/methodology/approach: The data were gathered from re3data repository, and the search was limited to BRICS nations. The data were further analyzed and tabulated as per set parameters, namely, country-wise distribution, types of contents, subject coverage and language diversity. Findings: The findings depict that in terms of strength, India has the highest number of data repositories, thereby achieved the first rank among BRICS nations, and South Africa has the least number of data repositories, whereas in terms of content type and subject coverage, India again is leading among BRICS nations. The English language is used by repositories as the main language of the interface. Practical implications: The study helps to understand the development of research data repositories by BRICS nations. The study is further beneficial to researchers, as Registry of Research Data Repository provides a single platform to access repositories from various disciplines. Readily available data saves time, money and efforts of researchers and helps the researcher in completing their research activity in a very short span of time. Originality/value: The paper has investigated open access data repositories of BRICS nation that has not been attempted earlier. This gives readers comprehensive overview of research data repositories developed in fast emerging economies of the global. The paper can be very helpful for information managers, OA promoters and education and research policy makers to devise plans and policy bearing in mind the evolving research channels in emerging economies. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the impact of gender diversity both at operational and leadership levels on the financial performance of firms in India. Design/methodology/approach: The study is based on a panel data set of 100 large Indian corporate firms. This study uses the Blau index and Shannon index to compute gender diversity. First, this paper uses system generalized method of moments model to deal with the potential endogeneity issue in the association between gender diversity and firm performance. Second, to unveil heterogeneity in such a relationship, the study applies panel data quantile regression model. Finally, the study adopts a generalized estimating equation model to investigate such relationships for group affiliated and standalone firms. Findings: This study finds a significant positive impact of workforce gender diversity and board gender diversity on the financial performance of firms. Further, the results of the quantile regression model indicate that the impact of gender diversity (workforce and board) on firm performance is more pronounced at higher quantiles of the conditional distribution of firm performance. However, the study fails to extricate any significant impact of audit committee gender diversity on firm performance. Finally, the study also finds a significant positive impact of gender diversity at both workforce and board level for a group affiliated, as well as standalone firms. Originality/value: The present study makes a novel contribution to the extant literature on the association between gender diversity and financial performance of firms by examining such diversity at both operational and leadership levels in the context of an emerging country such as India that captures the complex realities pertaining to gender issues. Further, the study contributes to the empirical literature regarding the heterogeneous impact of gender diversity on firm performance in the Indian context. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to study the effectiveness of insider trading enforcement actions in India and international dimensions.Design/methodology/approach The research is based on the insider trading regulations and amendments made during the period 1992-2015.Findings The notable observation of the study is the dearth of insider trading conviction and the paucity of prosecution for insider trading offences in India. It is difficult to resist the conclusion that surveillance and enforcement matter more than the drafting of the relevant statutes and regulations in emerging markets. Whereas, developed countries have a better record of prosecution than emerging markets.Research limitations/implications Future research may explore the factors that hinder effective regulation and recommend new methods to increase the impact of Securities and Exchange Board of India insider trading regulation.Originality/value The current paper presents guidance for the foreign institutional investors, regulators and market participants on insider trading regulation and prosecution in India. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates the current state of green supply chain practices (GSCPs) and also introduces a framework for the implementation of GSCPs in India. Design/methodology/approach: A case study approach was used for this research in which semi-structured interviews were conducted with three companies. These companies were automobile component manufacturing companies. Findings: In the three case studies, there were different antecedents depending upon the specific company structure and organization. The ten GSCPs were used as a base for finding the antecedents. Research limitations/implications: Although every step has been taken to ensure the rigour and reliability of case studies, in a field as complex as GSCPs, there are inevitably some limitations. Due to the limited size of the case study approach, the results can only be generalized to a similar size and types of organization. The scope of data collection for all three case studies was the same, but the quality of information gathered varied. As demonstrated earlier, a good-quality cross-case analysis was still possible, but the relative strengths of the three cases varied. Practical implications: A double contribution has been made to test the theory of GSCPs from a process and output perspective. From a process perspective, a contribution has been made to methodology by developing a robust approach for conducting supply chain research beyond the dyad. From an output perspective, the author has the empirical results from the three individual case studies and their cross-case comparison for dissemination to an academic audience. Originality/value: The outputs of this research work will pave a path for other automobile component manufacturing companies in India to address and implement GSCPs. [ABSTRACT FROM AUTHOR]

Purpose: This paper examines the impacts of technical efficiency and intellectual capital efficiency (ICE) on bank performance in India after controlling other bank-, industry-specific and macroeconomic variables. Design/methodology/approach: The authors use secondary data on listed Indian commercial banks for the period 2005–2018. The authors use data envelopment analysis (DEA) technique-based Malmquist index (MI) to obtain technical efficiency and value-added intellectual coefficient (VAIC) model for computing ICE. System generalized method of moments (GMM) (SGMM) model in a dynamic framework is used to estimate the parameters, which takes into consideration issues of endogeneity, heterogeneity and persistence of bank performance. Further, the authors use quantile regression model to examine whether the impacts of covariates are homogeneous at different locations of the conditional distribution of bank performance. Findings: The authors find positive impact of technical efficiency and negative influence of market concentration on bank performance. The results of the study support the efficient structure (ES) hypothesis (ESH). The authors observe positive influence of intellectual capital (IC) on bank performance, which indicates the relevance of intellectual resources in enhancing banks' value. Further, the results of quantile regression indicate that the impacts of technical efficiency and ICE are more pronounced at higher quantiles of the conditional distribution of bank performance. Originality/value: This paper in the Indian context examines the influences of technical efficiency and ICE after controlling bank-, industry-specific and macroeconomic factors. [ABSTRACT FROM AUTHOR]

Purpose: Organizational scholars are intrigued about stakeholders who propose multiple and conflicting ideas about what is good for their organization. Such contradictions are called paradoxical tensions. Although researchers have singled these out for analysis, focusing only on individual tensions prevents scrutiny of multiple paradoxical tensions that simultaneously emerge and how effectively organizations can manage them. In complex environments – especially during an organizational restructuring – multiple and interrelated tensions occur. Therefore, the objective in this paper is to investigate how organizations create multiple paradoxical tensions and how the combined effect of such tensions can constrain organizations during restructuring. The authors thus aim to help managers think reflectively and to plan interventions to deal with issues arising from restructuring through the lens of paradox theory. Design/methodology/approach: The authors adopted purposive sampling for an archival research-based case study of a major restructuring of a leading IT firm in India in the decade 2009–2019. This study focused on the types of paradoxes created and the response of the organization to these during the restructure. The authors identified key events using public documents and news reports from that decade. They drew on two sources of data: mainstream media coverage and third-party documents about the company. The latter included monographs and academic publications written by critics, business historians and design and management scholars. Findings: The findings address the gaps in the literature about how reorganizing during a restructure shapes the contradictions that lead to tensions and coexisting conflicting dualities, creating paradoxes. This study provides the reader with deeper insights into belonging, organizing, learning and performing tensions – core to paradox theory – along with their short- and long-term implications for organizational restructuring. The study demonstrates organizational responses to paradox and its practical implications for managers. The paradoxical nature of cultural–structural tensions in Indian organizations continues to be researched but, by focusing on paradox theory, the authors have opened doors for future research. Originality/value: Although there is no dispute that effective management of tensions can facilitate organizational performance, contradictory demands that lead to tensions have only intensified as organizational environments become more global, dynamic and competitive. Paradox theory is thus valuable for understanding tensions between equally valid principles, inferences and insights. Although this paper is based on a case study, the framework proposed here can form the basis for theoretical generalizability within certain limitations. Because organizations face similar paradoxical situations under competing demands during restructuring and because paradoxes are becoming increasingly prevalent in organizations, the authors expect their propositions to apply in other cases of restructuring. However, the authors would like to caution that the model developed here should be tested and refined in other contexts to more fully establish its validity and generalizability. [ABSTRACT FROM AUTHOR]

Purpose: Contemporary frameworks in the resource-based view (RBV) of the firm observe that the proprietary firm-specific assets of multinational companies (MNCs) from developed economies give them competitive advantage in international markets. However, the question "how do emerging market firms (EMFs) achieve accelerated internationalisation in knowledge based industries – despite not possessing proprietary assets and lacking critical elements of innovation eco-systems, institutions and infrastructure" has yet to be addressed. This paper aims to adopt a knowledge-based view (KBV) of the firm, identifying knowledge, both inside and outside of the firm, as a critical element for the internationalization of EMFs. Design/methodology/approach: This research entailed deductive econometric analyses using panel data analysis from 925 firm-year observations, which tested our predictions on capabilities that contribute to the internationalization of EMFs from the IT industry in India. Findings: The findings of the authors' panel data analysis reveal that the capacity to internationalize is predicated by knowledge leverage in three principal domains: absorptive capacity, tacit knowledge and knowledge-codification. This study shows internationalization is driven by higher-order capabilities of EMFs that draw on the absorptive capacity of individuals and collectives as a dynamic capability to serve international clients worldwide. Research limitations/implications: This study highlights that the process by which EMFs gain competence is different to the Western MNCs insofar as the extent to which EMFs have to stretch their efforts of learning from clients. Practical implications: For practitioners, the findings of this research are a useful guide to understand that EMFs need to make strategic investments to understand the idiosyncrasies of a variety of clients' needs and operating environments to dynamically adapt, document the learning and leverage the tacit knowledge. Social implications: This study captures the innate ability of entrepreneurs in emerging economies to unlock their potential in human capital for globalizing operations and targeting new market segments in the industry. This can directly benefit in uplifting the income level of millions in relatively underdeveloped countries and bringing about much-needed equity in the level of income in the society. Originality/value: The value of this study lies in its novel and contemporary insight on how EMFs leapfrog in a fast-changing technology space. What distinguishes the work from the static framework in literature is that EMFs learning is dynamic, and happens in an interactive mode, alongside clients in close proximity. This study captures the innate ability of entrepreneurs to unlock the potential of human capital in emerging economies for globalizing operations. [ABSTRACT FROM AUTHOR]

Purpose The distribution channel in Indian Consumer Packaged Goods (CPG) ecosystem is both unique and unparalleled in terms of its reach, structure, and size. This paper aims to give an emerging market perspective of the innovations in the distribution models of CPG industry through pertinent case studies.Design/methodology/approach This briefing is prepared by two independent writers who have critically evaluated the Indian CPG Distribution ecosystem and contextualized the case-studies with their perspectives.Findings Most of the text-books and academic literature are tailor-made for the distribution through organized retail. So, how do we tackle the complexities of the Distribution in an emerging market like India with a gargantuan proportion of sales in the unorganized retail sector? The paper is possibly the first attempt to give an emerging market perspective of the successful innovations in the distribution models of CPG industry through pertinent case studies and thereby serve as a learner's primer in this area.Practical implications The paper provides impactful strategic insights and practical thinking derived from the innovative approaches of successful corporations.Originality/value The research paper is first of its kind documentation of innovation in CPG ecosystem of India and thus saves busy executives and researchers hours of reading time. The relevant information is presented in a succinct and easy to digest no-frills format. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to understand Indian consumers' intention to use mobile payments by examining their adoption readiness (AR) in the larger context of their technology readiness (TR) and their privacy concerns (PCs).Design/methodology/approach A four-city, three language, paper and pencil survey yielded a sample of 600 respondents from India. Data were analyzed using structural equations modeling.Findings This study finds that AR positively mediates the relationship between TR and intention to adopt (IA) mobile payments. More importantly, PCs negatively moderate the relationship between AR and IA.Research limitations/implications Results will vary depending on country and other variables outside the scope of this study such as perceived risk, trust, etc. The sample was large but mainly comprised males, between 18 and 35 years of age.Practical implications The cash shortage due to a recent demonetization move in India had spurred mobile payment adoption but usage and retention remained low. Many other banking self-service technologies had not been successful and digitization was critical for easing payments and potentially paving the way for mobile banking. However, using mobile phones for financial transactions raises PCs that attenuate the positive impact of AR. Also, understanding overall attitudes with TR is important in a rapidly digitizing country with relatively novice users.Social implications Adoption of mobile payment technology can help address social and economic challenges in India, such as financial inclusion, corruption and tax evasion. Given the increasing awareness of privacy issues in India, mobile payment adoption, which already faces acquisition and retention challenges, will likely to face greater resistance in the future.Originality/value The findings add to the literature on emerging markets and marketing of technology products by identifying the critical role of privacy in the adoption of financial technology services. Moreover, the authors demonstrate that given the rapid introduction of technology in India, consumers' overarching TR has to be considered along with AR for mobile payments. Thus, the authors offer a tripartite, customer–technology–transaction view of the mobile payment adoption process in India. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims at identifying the antecedents of entrepreneurial intentions among females in India using the theory of planned behaviour. Design/methodology/approach: This study is based on the Adult Population Survey (APS) of the Global Entrepreneurship Monitor (GEM), which has covered 1,683 female respondents from India. The data has been analysed using simple techniques such as chi-square statistics and logistics regression. The antecedents of entrepreneurial intentions have been identified using the theory of planned behaviour. Findings: About 20% of the adult females have reported intention for starting an entrepreneurial venture in the country. A significant relationship emerged between the demographics of females with and without intention towards entrepreneurship. The results showed that there is a positive and significant effect of attitudes towards the behaviour, subjective norms and perceived behavioural control to the entrepreneurial intentions among females. Practical implications: This paper provides insights on factors affecting entrepreneurial intention among females and helps in developing a policy framework for promoting new ventures among female entrepreneurs. This also explores the possibility of future research on entrepreneurial intention in the Indian context. Originality/value: Considering the current focus of the government in India for promoting new ventures, this piece of research can be valuable for different stakeholders in adopting a gender-based approach in implementing inclusive entrepreneurial initiatives. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to understand the practices and policies unique to high-tech manufacturing start-ups in emerging economies, such as India. The study analyzes the main features and challenges of the high-tech manufacturing sector, and the way in which enabling environment including policy making, supply chain capability and related technologies through Industry 4.0 could be leveraged to foster growth. Design/methodology/approach: The paper undertakes an exploratory approach through in-depth semi-structured interviews conducted with high-tech manufacturing firms in various stages of their growth. The paper provides evidence of the challenges that high-tech manufacturing firms face in India, the strategies they adopt and highlights the role of institutional structures and policies. Findings: Findings show that high-tech manufacturing start-ups in India face various challenges in the upstream, production and downstream supply chain processes. Further, issues related to availability of quality material, quality suppliers, contracts, funding and access to markets remain. Results also show that enabling operational and financial levers could be created by policy makers and other stakeholders to help the high-tech manufacturing start-ups scale faster and create value. Originality/value: This paper contributes to the R&D intensive industry and high-tech manufacturing literature in the context of emerging economies, such as India, and provides a rigorous overview of the start-up ecosystem in high-tech manufacturing. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine the influence of culture on organizational readiness to change (ORC) within the context of merger and acquisition (M&A) in the banking sector in India. Design/methodology/approach: A multisource approach is used to collect data from a public-sector bank in India for testing our hypothesis. A hierarchical approach based on higher-order modelling has been deployed for confirming the path model. The foundation of the study is based on power distance (PD) and uncertainty avoidance (UA) cultural dimensions of Hofstede (1984). Findings: Employees in organizations with large PD and high UA index exhibit low readiness to change. Findings support a negative relationship of culture (large PD and high UA) with organizational readiness to change at the individual level. Research limitations/implications: The study has three major implications. First, measures and importance of change readiness at the individual level during corporate events such as M&A is elucidated in the study. Second, a paradigm for assessing higher-order models grounded in theoretical and methodological rigour for testing our hypothesis is presented in the paper. Last, the role of culture in M&A processes is highlighted vis-à-vis factors related to PD and UA on ORC. Practical implications: The findings of the research answer to the call for a study on factors that help in creating a synergy for successful M&A across all sectors especially in the banking sector. People representing high UA and large PD often look forward to direction and guidelines for guiding employee actions. Leaders therefore need to set clear agenda and effectively communicate the appropriateness of change to their employees for developing positive behaviour towards desirable organizational outcomes. This study touches upon this important perspective for its practical utilization. Originality/value: The study adds to the limited literature on change which addresses the need for studying socio-cultural factors in the M&A process, especially in an emerging economies context. [ABSTRACT FROM AUTHOR]

Purpose: The Indian Companies Act 2013 mandated auditor rotations in the financial year 2018–2019. Similar regulations are being considered in many countries, based on the assumption that longer tenure is detrimental to audit quality; yet, the evidence from investigations of this assumption is inconclusive. This paper aims to examine the effect of moderating factors on the relation between audit quality and audit tenure, given the regulatory trend and the lack of consensus in extant literature. Design/methodology/approach: This paper examines the relationship between audit quality and audit tenure among Indian firms from 2001 to 2015 and tests for moderating factors including auditor compensation, business group affiliation and chief executive officer (CEO) duality. Findings: Contrary to the objective of mandatory rotations, this study finds that longer auditor tenure generally enhanced audit quality among Indian firms prior to mandatory rotations. However, for companies paying abnormally high compensation to auditors, this paper finds that longer tenure decreases audit quality, particularly if the firm is affiliated with a business group or firms where the CEO also serves as the board chair. Thus, the potential benefits of mandated shorter tenure appear to be confined to high-fee paying companies with a business group affiliation and/or a dual-role CEO. Originality/value: This study is one of the first to examine conditioning factors that affect the relationship between audit quality and auditor tenure. Results suggest that regulations limiting auditor tenure would be beneficial only to the shareholders of a narrow group of firms; while for the majority of firms, limiting auditor tenure may actually be counter-productive. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore narratives of insecurity to understand how the casualisation of the employment relationship makes life more fragile and precarious. The authors engage in an inquiry about how multinational enterprises (MNEs) structure precariousness for workers in emerging economies. The authors attempt to understand how workers analyse their experiences of precariousness and what form their resistance takes as a result of their analysis. Design/methodology/approach: The authors engage with the narratives of eight Indian workers/trade union activists working in different marginal spaces of the Indian economy to uncover a commons where we are the multitude. By commons, the authors imply shared forms of property, which stand against the concept of private property that is central to the social relations of capitalism. The authors are performing the data of workers by interspersing them in an analysis of angst and hope. Findings: Workers understand their experiences of precariousness as emerging from a complex political economy structured by MNEs, which involves multiple fronts of marginalisation. Workers realize that they need to engage in comprehensive forms of resistance to undo the regimes of precariousness. Workers create shared universes of grief to relate to each other's experiences of precariousness. The unfreedoms experienced by workers lead to a sharing of the social relations of commons where workers can resist by expressing solidarity with each other. Practical implications: The authors contribute to practice by arguing that workers' collectives should not accept the naturalisation of precariousness. By staging a dialogue about the injuries of precariousness, they can craft a politics of resistance that begins the process of commoning. Social implications: Workers' politics of resistance can significantly democratise the global political economy in important ways by advancing the potential for commons. Originality/value: The authors make an original contribution to the study of precariousness in the context of international business by arguing that the experience of precariousness can lead to a commons where workers resist structures of injustice. [ABSTRACT FROM AUTHOR]

Purpose: Healthcare supply chains (HSCs) have been adopting Industry 4.0 (I4.0) as a means to boost their resilience. The first objective of this study is to identify the effect of contextual variables of HSCs on resilience development and I4.0 adoption. Second, the paper examines the pervasiveness of the relationship between resilience and I4.0 across different contextual characteristics. Design/methodology/approach: 179 organizations from the HSC in Brazil and India were surveyed. Responses were analyzed using multivariate data techniques. Findings: Large HSC agents are more likely to develop resilience abilities and adopt I4.0 technologies when these factors are analyzed independently. However, the joint analysis of resilience and I4.0 displayed a large number of significant correlations among small organizations. Originality/value: Findings provide managers of HSC arguments to enhance resilience through the digitalization. HSC organizations can identify HSC organizations' context to tailor initiatives on resilience and digitalization. [ABSTRACT FROM AUTHOR]

Purpose: The purpose if this paper is to examine the turn-of-the-month effect in the equity market of three major emerging countries – Brazil, India and China – from January 2000 to December 2017. Design/methodology/approach: Ordinary least square regression analysis is used to examine the presence of the turn-of-the-month effect and to test the efficiency of the emerging stock markets. The characteristics of the returns during the turn-of-the-month days are compared with that of the non-turn-of-the-month trading days. Findings: The average returns during turn-of-the-month days for all the considered emerging market indices are significantly higher than the non-turn-of-the-month days for the full sample. For the subsample analysis, the average returns for Brazil and India for pre-GFC period are higher on the turn-of-the-month days than on the non-turn-of-the-month days. However, the effect disappears in China during the GFC period. During the crisis period, the results show that the turn-of-the-month effect disappears in Brazil and India, whereas for China, the effect is significant. For the post-GFC period, the-turn-of-the-month effect reappears for all the countries. Practical implications: The results have important implications for both traders and investors. The authors' results indicate that the market participants can time the stock markets of these countries by taking long positions especially during the times when the turn-of-the-month effect is highly significant. Originality/value: To the best of the authors' knowledge, this paper is the first to study the turn-of-the-month effect, in the key emerging countries such as Brazil, China and India. Second, the authors divide the sample into three subperiods based on the 2008 GFC such as pre-GFC, GFC and post-GFC to understand the dynamic behavior of turn-of-the-month effect over time. Most importantly, the authors control for the day-of-the-week effect while examining the turn-of-the-month effect. [ABSTRACT FROM AUTHOR]

Purpose - This paper seeks to revisit the international reserve policies of emerging market countries; taking the case of India. Emerging market economies have lately been accumulating large foreign reserves. The paper aims to demonstrate how these reserves can be put towards effective growth by implementing better reserve and debt management policies. Design/methodology/approach The paper uses descriptive and comparative ratio analysis methods and applies these to the case of Indian international monetary reserves. These methods provided a clear view of India's international reserves and how reserve vulnerabilities can be identified. Findings Based on the suggested benchmarks, the findings indicate that India may be holding reserves in excess of the suggested requirements. Research limitations/Implications - Data on international monetary reserves need continual updating. Continuous longitudinal data would help in showing the true effects of international monetary reserve fluctuations and vulnerabilities over time. Practical implications - International finance researchers and practitioners are always seeking methods and approaches for understanding what constitutes the optimal international reserve level. The analysis and findings from this paper provide practitioners and academicians with appropriate benchmarks for the case of emerging market countries. Originality/value This paper extends and expands the discussion on how international monetary vulnerabilities can be identified, assessed and analyzed in emerging market countries from proposed benchmarks in this paper. [ABSTRACT FROM AUTHOR]

Purpose: In the backdrop of emerging market setting of India, this study aims to attempt to identify how Institutional investors use sell side analyst outputs for their decision-making processes in light of inherent biases in their forecasts and recommendations. The study also conceptualizes the role of internal buy side teams in the process and try to figure out the key attributes and services provided by sell side analysts, which provide maximum value to the investors. Design/methodology/approach: The study is centered upon in-depth semi-structured interviews of ten institutional investors from top Indian asset management companies covering a wide range of topics tied back to theoretical explanations. The data collected was transcribed, coded and analyzed using content analysis to ensure a systematic synthesis of point of view. Findings: The findings show that internal analyst teams of institutional investors play a dominant role in terms of validation of sell side analysts' outputs (given the inherent biases in sell side analyst forecasts). Further, the engagement of sell side analysts by the investors are determined not only through profitable recommendations but also on the basis of soundness of the investment rationale along with other services provided. Finally, this study puts into perspective, the critical role of analyst industry knowledge and access to company management (as opposed to analyst pedigree and forecast accuracy) for institutional investors decision-making. Practical implications: The findings of the paper have profound implications for various stakeholders such as companies, sell side analysts, policy makers, researchers and students of finance in terms of detailed understanding of investment processes of institutional investors in the context of emerging markets like India, which have a different legal and regulatory set-up compared to developed markets. The authors also provide a critical perspective through an intriguing paradox that exists between finance theory and its relevance for actual practitioners. Originality/value: To the best of the authors' knowledge, this is the first study in India which look inside the "black box" of institutional investors and their decision-making process, especially with respect to how they use sell side outputs. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to identify the constituents of cause-related marketing (CRM) capabilities in the context of an emerging market healthcare sector, by incorporating the resource-based view alongside the dynamic capability perspective. Moreover, the authors aim to illustrate how the typologies of CRM capabilities help to achieve service innovation whilst taking into consideration the role of service flexibility (SF) and service climate. Design/methodology/approach: The authors develop a research framework through a representative and novel case study in the Indian healthcare market by utilizing and analyzing the subject-specific literature. Furthermore, a quantitative survey of healthcare professionals was conducted to assess the relationships utilizing PLS–SEM. Findings: After identifying the constituents of CRM capabilities, the study confirms the mediating mechanism of SF between CRM capabilities and service innovation. Furthermore, findings from the study suggest that service climate positively moderates the relationship between CRM capability and SF. Research limitations/implications: The study was conducted in the emerging country healthcare market of India. Thus, the generalizability of the framework needs to be tested in a similar or contrasting context. Furthermore, the sample size for the study was limited to healthcare professionals, and the customer's perspective was missing. Originality/value: This paper is a first step to identify the specific dimensions of CRM capability and explain it as a higher-order factor. The study further provides an integrative framework that includes CRM capability, service innovation, SF and service climate. More specifically, it enhances the understanding of the constituents of the CRM capabilities and their influence on service innovation. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to understand how organizations can apply the Blue Ocean Shift process to achieve profitable growth and make competition irrelevant. Design/methodology/approach: This paper uses a case study approach. Based on interaction with the senior management of an organization and secondary sources, this paper presents an application of the Blue Ocean Shift process on a strategic move by an organization to achieve value innovation. Findings: This paper presents a case of how Tata Motors Ltd. applied Blue Ocean Shift process to come up with the product Tata Ace, which achieved value innovation while making competition irrelevant. From assessing the current state of play to forming a motivated team, working with suppliers and fulfilling the needs of the non-customers and unhappy existing users, they were able to create a strong position for themselves. Practical implications: Blue Ocean Strategy, through a process defined as Blue Ocean Shift, can be applied by organizations to achieve value innovation, change market boundaries and achieve profitable growth through their strategic offerings. It can help them get out of "red oceans" which may be a way to view the existing hypercompetitive world. Originality/value: This paper contributes to the application of the Blue Ocean Shift process in the Indian context while studying a strategic move of an Indian firm. It showcases an example of how large Indian organizations can successfully apply the process to achieve value innovation. [ABSTRACT FROM AUTHOR]

Purpose: Prior research on earnings management largely assumes that newly public firms manage earnings opportunistically around IPOs. However, only a few studies have empirically examined the real motives behind newly public firms' earnings management. The purpose of this paper is to examine the impact of ownership dilution on earnings management among IPO firms. The authors chose the setting of security offerings in an emerging market, which is characterised by unique ownership structure, to examine the possible incentive of owners or pre-IPO shareholders to engage in earnings management. Design/methodology/approach: The study employs accrual and real transactions measures to check the presence of earnings management among 409 IPO firms from India during the period 2000‒2018. Subsequently, using ordinary least squares regression models with heteroscedasticity-robust standard errors, this paper examines the relationship between earnings management and selling or dilution incentives of pre-IPO shareholders. Findings: The study finds that the degree of earnings manipulation by issuer firms is positively associated with the ownership dilution at the time of IPO as well as around lockup expiration. Practical implications: The findings of this study will help the investors and regulators to understand the practice of earnings management among IPO firms and how it is linked to the ownership dilution of pre-IPO shareholders. Originality/value: The paper contributes to the limited stream of research that investigates the motives of earnings management among IPO firms. It empirically establishes an association between the selling incentive of pre-IPO shareholders and earnings management. [ABSTRACT FROM AUTHOR]

Purpose: The growth of global e-commerce presents significant opportunities for global expansion. Yet it has not leveled the playing field between emerging markets e-commerce corporations (EM-ECCs) and advanced markets ECCs (AM-ECCs). While AM-ECCs have been expanding overseas with considerable success, EM-ECCs have been less disposed to internationalize and have been content to serve and defend their home turfs against foreign rivals who wield monopolistic advantages. Leveraging the network, ownership, location and internalization (N-OLI) theoretical framework, this paper aims to examine the variables affecting the internationalization of AM-ECCs and EM-ECCs. Design/methodology/approach: This paper adopted an exploratory research method using multiple corporate cases to focus on understanding the dynamics present within single settings, capture corporate context and allow comparison between cases. Findings: The findings suggest that AM-ECCs, in comparison to EM-ECCs, are endowed with favorable and strong network-based advantages, ownership-based advantages, location-based and internalization-based advantages that make them more capable of pursuing internationalization aggressively. However, EM-ECCs are induced to pursue regionally-focused internationalization due, on the one hand, to capital scarcity, weaknesses on network-based and internalization-based advantages and, on the other hand, to geographical strength and strong location-based advantages emanating from knowledge of the home region. Originality/value: This paper identifies the internationalization challenges that EM-ECCs face with respect to AM-ECCs. While extending the theoretical discussion of the N-OLI framework in light of EM-ECCs, this paper also extends the EM-ECC strategies within local and regional markets, including emerging markets such as India and the Middle East. This extension supports the assertion that regional focused strategies are not immune to technological advantages which support the notion of a regional strategic growth strategy because of localization advantages and capital leverage limitations. Finally, the paper expands the analysis to some emerging markets that have attracted less attention in the literature, namely, India and the Middle East. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to identify specific corporate governance determinants of asset quality in the Indian banking system and suggest a future course of action for research in the Indian banking industry. The results will guide other developing nations to handle poor asset quality in banks. Nations with economic interest in India can take cognisance from the results. Design/methodology/approach: The authors identify the determinants of asset quality for the Indian banks using novel data from 2010 to 2019 through a dynamic panel data approach. The authors analyse 45 public and private sector banks using general method of moments. Findings: The results indicate that intensity of board activities, board functioning and ownership concentration are significant determinants of asset quality. Furthermore, the study hypotheses on board independence and board size are rejected as they do not significantly impact the asset quality. The authors also call for further research on the qualitative aspects of gender diversity, board independence and special committee activity for better insights. Originality/value: This is the first study to identify specific corporate governance determinants of asset quality for the Indian banking system using a dynamic panel data approach with data spanning over ten years from 45 banks. Unlike all other studies, the authors have used both bank-specific and macroeconomic variables as control variables, making the results accurate and reliable. The authors also recognise the persistent nature of asset quality. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore the association between chairperson hubris and the internationalization of firms belonging to business groups in an emerging market, India, under the boundary conditions of business group internationalization and the tenure of independent board members. Design/methodology/approach: Archival data of 163 Indian family firms over a five-year period were used. Findings: The study highlights the significance of chairperson hubris in determining the internationalization of family firms in India and the influence that business group internationalization and the tenure of independent board members have on the chairperson hubris and firm internationalization relationships. Originality/value: Although literature exists on drivers of internationalization, micro-foundations theories such as chairperson hubris have been less explored in the international business literature, especially in the context of emerging markets. Contribution to Impact: [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the impact of the underwriters' syndicate size (SS) and its structure on underpricing (UP), oversubscription rate, liquidity and volatility. The authors use a database of 185 initial public offers (IPOs) issued in India during the period 2012–2019. Design/methodology/approach: The authors have used ordinary least squares regression and stepwise regression on cross-sectional data to construct the regression model for the dependent variables under consideration, namely, UP, subscription rate (SUB), listing day volatility and listing day liquidity. Findings: The authors find that larger syndicates reduce UP. The authors also find strong evidence of a larger subscription rate for IPOs managed by larger syndicates, suggesting that larger syndicates generate more information in the market. Looking into the composition of investment banks in the syndicate, the authors find that syndicates comprising more lead managers and comanagers attract a higher subscription from potential investors. More book running lead managers and nonmanaging syndicate members help increase liquidity and reduce the volatility of IPO stocks on listing day. Additionally, the authors find that larger firms with reputed lead managers establish larger syndicates while venture-affiliated IPO firms prefer a smaller syndicate. Practical implications: The findings would interest issuing firms, investors, intermediaries and policymakers engaged in formulating syndicates for better management of IPOs. Originality/value: The study extends the present literature on IPO syndicates, particularly in the Indian context as an emerging economy. The study extended the present understanding of SS and composition, creating value for the issuers. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to answer two research questions: first, to study the factors that directly and indirectly influence the intentions of job-seekers and second, to examine the moderating role of gender differences in e-recruitment adoption through the application of technology acceptance model (TAM) in India. Design/methodology/approach: A convenience sampling technique was used to collect online data via GoogleDocs through various online channels such as social media, LinkedIn and email. The final data was collected from 364 final-year graduates and postgraduate students to confirm the impact of female and male differences, measurement invariance in composite models (MICOM) and multi-group analysis (MGA). Findings: The results indicated that perceived usefulness (PU) and perceived ease of use (PEOU) have a direct impact on attitude (AT), whereas PU influenced behavioral intentions (BI) of job-seekers, but PEOU did not. AT directly leads to the BI. The outcomes of mediation analysis show that AT partially mediates the relationships between PU to BI and PEOU to BI. Further, the findings of MICOM and MGA showed that gender significantly moderates all the relationships between the constructs except for the influence of AT on BI. Research limitations/implications: This study contributes to the current literature, revealing that the original TAM model is still pertinent and effective in prevailing periods in emerging markets. The significance of PEOU and PU on AT and BI implies that job-seekers will strongly adopt e-recruitment when it is user-friendly and assist them to accomplish their tasks easily and efficiently. Moreover, gender has a vital moderating influence in e-recruitment adoption. In the case of females, the effect of PEOU is stronger, and for males, PU has a substantial impact on adoption. Practical implications: Developers and recruiters should provide significant information related to salary, location and job profile on e-recruitment to enhance the adoption rate of online recruitment. Further, the usefulness of e-recruitment systems was more significant for males compared to females, whereas female job-seekers prefer the e-recruitment system, which is easy to use and operate. Originality/value: This research fills a gap in the literature by examining the essential factors affecting the BI of job-seekers as well as empirically testing the impact of gender differences to adopt TAM for e-recruitment – an under-explored subject in developing countries like India. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the role of knowledge management (KM) processes in enhancing competitive strategies of differentiation and cost-effectiveness and its impact on innovativeness in knowledge-intensive service organizations (KISOs) in India. Design/methodology/approach: This study collected data from 293 employees working in Indian KISOs through a questionnaire survey. After checking for reliability and validity of data, this study tested the hypotheses by structural equation modeling using AMOS 26. Findings: The results show that KM processes have a significant and positive relationship with competitive strategy and innovativeness. Competitive strategy partially mediates the relationship between KM processes and innovativeness. These KM processes promote differentiation and cost-effectiveness, which in turn enhances innovativeness. A differentiation strategy has a stronger positive relationship with KM processes and innovativeness than a cost-effective strategy. Research limitations/implications: This study's cross-sectional design limits its ability to establish a general cause–effect relationship. Even so, theoretically, the results corroborate the contingent view of KM in emerging economies such as India. The findings show the mediating role of competitive strategy on the relationship between KM and its processes with innovation and competitiveness – providing a better cost-effectiveness relationship and organizational differentiation capacity. Practical implications: This study suggests managers to adopt KM processes such as creation-sharing, acquisition and knowledge base enabling firms to be different and cost-effective than their competitors. This study provides evidence on how KISOs can leverage their innovativeness by using KM processes in congruence with its competitive strategy and gain competitive advantage. Social implications: This study emphasizes the development of KM processes in the management of KISOs, which contributes substantially to India's economic growth via Gross domestic product and employment. On the social side, this study suggests to manage cultural issues in KM processes, arising because of presence of multi-cultural workforce and a high-power distance society. Originality/value: This study bridges a research gap of previous studies providing empirical evidence regarding the mediating effect of competitive strategies in the relationship between KM processes and innovativeness. This study adds proof to the KM contingency view of firms, suggesting when KM processes are formulated to achieve competitive strategy; substantial benefits such as innovativeness can be realized. This study adds evidence from the emerging economy of India, where KISOs are increasingly creating value and employment. [ABSTRACT FROM AUTHOR]