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This paper examines the dynamic connectedness between green bonds and OECD financial markets of European countries. The study is conducted on daily price of green bonds and selected European stock markets from January 27, 2015, to August 4, 2021. Top ten European countries namely Luxembourg, Switzerland, Norway, Denmark, Germany, Netherlands, Iceland, Austria, Sweden, and Belgium are included within the OECD economies. The study uses Diebold and Yilmaz and Barunik & Krehlic tests to examine the connectedness between the economies and green bonds in short, medium, and long term. Result exhibits volatility across all frequency cycles. Brussel Stock Exchange and Euronext Amsterdam are identified as high-risk markets in the OECD European market. Evidence emerging from this study advocate the inclusion of green bonds in these financial markets for shorter time periods only. Results from this study are expected to have practical implications for portfolio managers, investors, and market regulators, suggesting incorporation of green bonds in investor portfolio for efficient diversification of risk.

Purpose This paper aims to identify changes in individual investors’ preferences, prominent sentiments in the market, behavioural tendencies and biases demonstrated as a result of the COVID-19 pandemic. Design/methodology/approach As the study is exploratory social research, the design is also structured as such. In total, 69 Securities and Exchange Board of India-registered investment advisors catering to investors of diverse profiles, experiences and locales are engaged through in-depth semi-structured interviews. The responses are categorised thematically using a data structure model. Findings Investors are guided by an inclination for safer and liquid asset classes and prefer fixed income securities. The authors observe various emotional reactions – inexperienced investors panic, experienced investors act maturely, while a few of both naïve and sophisticated investors are opportunistic contrarians. Lower valuations, ease of access to digital infrastructure for trading and social norms attract many first-time individual investors, causing a phenomenon identified as the “new investor boom”. Apart from the biases identified during the financial crisis, the authors also detect evidence of cognitive dissonance, bandwagon effect, fear-of-missing-out syndrome, disposition effect and others. Practical implications The paper also discusses some noticeable behavioural tendencies displayed by the individual investors and compiles helpful strategies to successfully navigate any such financial crisis. Social implications An individual investor is a least aware and most affected stakeholder in any crisis, so this study contributes newer insights to ensure their financial well-being. Originality/value The study’s originality lies in adopting a qualitative methodology that uses investment advisors’ professional experience to unveil the sub-structures of investor psychology and decision-making behaviour during COVID-19.

Reverse mortgage has always been viewed as a product meant exclusively for the elderly with financial hardship. However, there is a brighter side to it too. This article attempts to project reverse mortgage as a financial planning tool through a case study analysis. Using the coordinated strategy, this case explores how the line-of-credit option in reverse mortgage can meet the cash needs of a retiree during market downturns, allowing his portfolio to stay invested. The suggested strategy is a direct attack on investment risks, especially, sequence of return risk. Using this strategy, the depreciated assets are allowed to recover their original value and appreciate, ensuring better returns and longevity of investments. Dilemma: Is reverse mortgage a sustainable retirement plan? How can it be used as a financial planning tool to fund retirement? With the increasing proportion of elderly population in India (projected to be 19% by 2050), reverse mortgage has emerged as an efficient option to fund retirement days. Seeing its success in foreign countries, the dilemma, is: Is it an adequate solution to fund retirement in India? Theory: The premise of the present research is based on a coordinated strategy, used by Sacks and Lafaye (2016) where it is proposed that the client, using the line of credit option in reverse mortgage, would borrow only during market downturns, thereby leaving their market investments untouched and maximizing their gains. Basis of the Case: Phenomena-based case: financial planning for a retiree. Type of the Case: This is basically an applied decisional case, attempting to determine where reverse mortgage is an effective retirement plan or not. Protagonist Present: Mr Rajesh Sharma and Mr Anand Malhotra. Findings: After 20 years into retirement. Mr Rajesh Sharma who does not choose reverse mortgage ends up exhausting his complete investment portfolio value in the 19th year of his retirement life. Thus, he is in financial distress and has no resort to meet his financial needs except to fall back upon his children. On the contrary, Mr Anand Malhotra who opts for the line of credit option in reverse mortgage has positive net worth at the end of 20 years that can ensure a comfortable future for him. Discussions: The case recommends utilising reverse mortgage as financial planning tool for the elderly. Mr Rajesh Sharma is in financial distress and has no resort to meet his financial needs except to fall back upon his children. Mr Anand Malhotra by making the smart choice of reverse mortgage, ensured that his portfolio stayed invested longer, providing it sustenance and longevity. By opting for reverse mortgage, Mr Anand Malhotra not only shielded his investments from unnecessary withdrawals, but the option also gave him the confidence to tide over his financial exigencies The case concludes that reverse mortgage can provide greater probability of the investments/savings to survive the retirement period, coupled with a high probability of greater net worth at the end of the period. It can be safely concluded that reverse mortgage is definitely a golden walking stick for the elderly. If the government and the lending institutions take cognizance of this aspect of reverse mortgage and market it accordingly, it can turn out to be a vanguard product for the Indian elderly.

A gig economy is a free market structure in which temporary positions are widespread, and organizations employ independent workers for short-term commitments.The gig economy is fragmented and spans a wide diversity of workers such as independent contributors, freelancers, self-employed, and part-time workers. This chapter deliberates on the major factors that influence the gig economy from a multi-stakeholder perspective (e.g., employers/organizations, gig workers, customers, and economy). The study explores the various common factors such as globalization, digitalization, technological change, financial pressures, and emerging competition including other factors about different stakeholders who are influencing the gig economy, thereby propelling the entry of the next generation of workers in this system. Pandemic due to covid-19 has made survival even harder for gig workers. The chapter also discusses the challenges from different aspects of all stakeholders with due consideration of Industry 4.0 in detail.

The financial sector across the globe ensures sustainable growth in the economy by mobilizing investments, funds, and savings. This chapter attempts to comprehend the current state of cybersecurity within the financial services industry worldwide. The chapter explores the different aspects of global cyber-attacks in financial sectors to elucidate the salient problems, issues, threats, safeguards, and solutions. As technology is progressing, highly technology-savvy criminals are becoming a new threat in the cybercrime space. The entire industry needs an intense transformation to create innovative, state-of-the-art information, and an up-to-date architecture of cybersecurity that is capable of confronting the continuous tides of cyber-attacks and data breaches on an everyday basis. The use of security tools like proxy servers, firewalls, multi-layered email strategy, virus security software, and effective governance strategies are necessary to protect financial sectors from cyber threats and attacks.

This paper is an attempt to examine the sustainability reporting practices of the top 40 public & private Indian companies (as per the ET-500 list). Using NVivo software, each company’s overall disclosure index is calculated on seven identified parameters. The study is conducted by applying content analysis on the past two-year’s annual reports of all the companies. To identify substantial variation in public and private company’s disclosure norms, the Mann-Whitney U test was applied for statistical analysis. Results indicate a significant difference in disclosure of environmental, human rights, social performance, society, product responsibility, and six capitals. Public sector companies are found to be more inclined in societal disclosures while the private sector companies are more inclined towards social responsibility. Environmental disclosures exhibit higher values for public companies and social performance indicators display higher values for private sector companies.

The internet of things (IoT) is proving to be a seminal development amongst this century's most productive and pervasive high-tech revolutions. Increased reliance on the internet of things (IoT) is one of the foremost trends, and the financial services industry is a major contributor to that trend. IoT's influence on our daily lives is noteworthy, and it has become imperative for financial services organizations to evolve to adapt to these changes. Digital devices have started to interconnect with each other and possibly with other peripheral entities. Owing to the explosion of these devices and digitization in the banking and financial services industry, businesses are discovering the possibility of IoT in finance to control data and to minimize the risk. This chapter focuses on the impact of internet of things on financial services. It discusses the various applications, trends, challenges, and risks associated with adoption of IoT by financial services institutions. This chapter also discusses Indian and global cases of application of internet of things by financial services institutions.

Emerging technologies have redesigned the financial services industry through innovative means to cater to evolving customer expectations of personalisation and ease. FinTech has been progressed as one of the most pioneering and cost-effective disruptive technologies. Initial adaptation of FinTech solutions has permitted several start-ups, financial service providers, and other assorted sectors to accomplish an augmented pace of growth. This chapter highlights how emerging technologies are altering the subtleties of doing business for financial services benefactors, possibility of emerging technologies, advantages and disadvantages, technology linked issues/challenges in financial services, and also highlights drivers of this revolution.

Financial distress is a socially and economically significant issue that affects almost every firm across the world. Predicting financial distress in the banking industry can substantially aid in the reduction of losses and can help avoid misallocation of banks’ financial resources. Models for financial distress prediction of banks are being increasingly employed as important tools to identify early warning signals for the whole banking system. This study attempts to forecast the financial distress of commercial banks by developing a bankruptcy prediction model for banks. The sample size for the study is 75 Indian banks. Logistic, linear discriminant analysis (LDA) and artificial neural network (ANN) models have been applied on the last 5 years’ (2015–2019) data of these banks. Data analysis results reveal the logistic and LDA models exhibiting similar prediction accuracy. The results of the ANN prediction model exhibit better prediction accuracy. It is expected that the results of this study will be useful for managers, depositors, regulatory bodies and shareholders to better manage their interests in the banking sector of the country.

In this report, we review the market impact of artificial intelligence (AI) in healthcare and future predictions. AI is a rapidly advancing technology in healthcare. It provides rich and relevant information to patients and healthcare providers with on-demand medical and clinical confidence, AI can greatly advance healthcare professional and patient communications. Interest and investment in artificial intelligence continues to grow. At the same time there exists some practical challenges that will determine the course of this market trend. We will discuss the macroeconomic, ethical and legal challenges that pertain to this industry and make recommendations to the healthcare executives.