European Economic Letters (EEL)

A study of Financial Awareness among students of Central Universities in India

Puja Kumari, Shubhangi Srivastava, Pradeep Saxena — 2024-04-24

Financial literacy and fintech awareness equip students with essential life skills, empowering them to manage their money wisely, adapt to a digital financial world, and secure a better financial future. This study conducts a comparative analysis between Delhi University (DU) where NEP is implemented and the University of Allahabad (AU) where NEP is yet to be implemented to examine the impact of NEP 2020 on financial awareness among college students. Surveys were conducted in both universities to collect data from college students’ level of financial literacy, financial planning, and fintech awareness. Mann-Whitney U Test is employed to calculate mean rank scores of both universities' financial literacy, financial planning, and fintech awareness. Several recommendations are made in light of this finding to improve the academic framework's integration of financial education. Recommendations include implementing courses specifically on financial literacy, forming educational collaborations with financial institutions, encouraging multidisciplinary methods, and using technology to improve financial literacy.

Assessing the Impact of GST on the Textile and Automobile Industries in India: A Comparative Study

Priyank Srivastava, Neha Sangwan, Bhavana Srivastava, Sarika Sushil — 2024-04-24

This research paper dwells into assessing the changes that have occurred in the Textile and Automobile industry after introduction of GST in India. By examining how export and annual turnover is being affected post GST launch, as one of the key objective of introducing GST was to increase the exports from India and lower down the cost of output so as to increase the turnover. Analysing the data so collected for the selected time period, the study assess the reliability measures. The findings highlight the significant correlation between exports turnover and its share in annual turnover. Despite limiting the study to selected variable, the study suggests avenues for future research to address the constraints and employ innovative methodologies. The study is analytical in nature and is based on secondary data and will consider the impact of GST on the manufacturing sector’s performance by considering the sales or revenue and share in GDP.

Assessing the Challenges in Competency-Based Hrm in the It Sector

Aayushi Mishra, Surendra Kumar — 2024-04-24

The economies and corporations functioning in the twenty-first century are primarily based on the footing of knowledge and skills. Therefore, human resources (HR) must be regarded as a vital source of knowledge and skill in an organization and must be treated as human capital. Human Resources are the only asset that adds value to itself over the period of time and can also be nurtured effectively with appropriate training and development procedures. In today’s world, the success of corporations’ rests on the shoulders of human resources and that success can be manifested in the form of Competencies. Competent employees act as a catalyst in the smooth functioning of organizations and pave the way to achieve a competitive edge in the market.

To incorporate this, the most common approach to inculcate competencies in organizations is through Competency Mapping. As the global working environment shifts from mechanic to organic, organizations are required to use their human resources more strategically. Competency Mapping is a strategic HR policy that helps in monitoring the performances and development of human resources in an organization.

AN ANALYSIS OF PURCHASE BEHAVIOUR, PURCHASE INTENTION, AND BUYING PERCEPTION ON EMOTIONAL BRANDING: A STUDY IN URBAN CONSUMER MARKETS

Sumit Singh, Anshuman Singh, Juhi Jaiswal, Mukesh Kushwaha — 2024-04-24

This research paper delves into the relationship between purchase behavior, purchase intention, buying perception, and emotional branding within urban consumer markets basically comprising the young generation and their inclination toward smartphones. By examining how these independent variables influence emotional branding, the study aims to offer insights into effective branding strategies. Analysing data from 252 respondents using SPSS 26, the study assesses demographic characteristics and reliability measures. The findings highlight significant correlations between emotional branding and consumer decision-making processes. Despite acknowledging limitations in demographic scope and reliance on quantitative methods, the study suggests avenues for future research to address these constraints and employ innovative methodologies. This investigation contributes to a deeper understanding of emotional branding's impact on consumer behavior and provides valuable insights for developing tailored marketing strategies aimed at fostering emotional connections with brands in urban markets.

ANALYSING THE IMPACT OF VOLATILITY DECAY ON FORECASTED RETURNS USING ARMA, SYMMETRIC AND ASYMMETRIC GARCH AND TGARCH MODELS

Archana Agarwal, Nidhi Dhankhar — 2024-04-24

In accordance with the general perception that the risk appetite of an investor determines his reward, the discussion neglects the important issue of the impact of volatility. An informed investor is able to take the right decisions and create a portfolio that maximizes returns. Academics, however, engage themselves to understand the volatility by employing empirical analysis and provide evidence-based results. The current research identifies sixteen sectoral indices of the National Stock Exchange of India (NSE). A combination of Autoregressive Moving Average (ARMA) and Generalized Autoregressive Conditional Heteroskedastic (GARCH) and T-GARCH (Threshold-GARCH) have been applied to the closing price of indices from Jan. 1, 2019 until January 31, 2024. The returns on each of these indices have been forecasted for the next three months ending on April 30, 2024. The outcome of the research shows that news and information have a direct bearing on the returns of the indices. Moreover, the negative shocks in the previous period have more volatility than the positive shock of the same magnitude illustrating an inverse relationship between volatility decay rate and future returns.

Impact of Employee perception towards Organizational CSR initiatives on positive work attitudes: A Comparative Analysis of Private and Public Sector Employees in India

Trupti Dave, Navneet Khanuja, Jyoti Vyas Bajpai — 2024-04-24

Purpose – The present Research paper seeks to analyze the impact of Employee perception towards CSR initiatives of Organization on positive work attitudes like Organizational commitment and Job satisfaction for employees working in Indian Public and Private sector Companies.

Methodology – Primary data from 250 employees working at different levels from a Private Sector and a Public Sector Company in India was collected using Survey. The effect of employee perception about CSR initiatives of their Company, on employee Job satisfaction and Organizational commitment and Intention to Stay has been studied. The data obtained was analyzed by Smart PLS 3.0 using a Moderated mediation model.

Findings – The major finding of the study is that employee perception towards Organizational CSR initiatives positively effects both the Job satisfaction and Organizational Commitment of employees

Practical implications – The Importance Performance Analysis of PLS SEM provides important managerial implications for Organizations which suggests that improving Positive work Attitudes for employees in both Public Sector and Private Sector can be attained through Company’s participation in CSR initiatives.

Originality/value – This research is one of its kind that studies and compares the effect of employee perception of CSR initiatives of Organization on Job Satisfaction along with Organizational Commitment of Private Sector and Public Sector employees.

Exploring the Benefits of Corporate Social Responsibility Initiatives in Britannia Industries Limited

Vaishnavi Srivastava, Suneel Kumar Patel, Himanshu Srivastava — 2024-04-24

Corporate Social Responsibility (CSR) refers to the strategies that corporations adopt to manage their businesses and create an overall positive impact on society at large. A business operates in society and utilizes its resources. Hence, it becomes an obligation of the company to give back to society which it carries out by performing the CSR activities. A large number of companies are contributing towards the CSR activities mentioned in Schedule VII of the Companies Act, 2013. This research paper intends to measure the Corporate Social Responsibility practices in Britannia Industries Limited, one of the major players in the Indian Bakery Market. Furthermore, as part of its corporate responsibility efforts, it looks into the monetary backing that Britannia Industries Limited has provided for various social responsibility efforts and describes its contributions to health care, socioeconomic development, growth, and the advancement of children as well as its contribution to the regeneration of hospitals for women and children. The study used secondary data collected from the annual report and website of Britannia company. Most of the company's CSR activities are carried out by Britannia Nutrition Foundation which basically aims at programmes undertaken to fight malnutrition and undernutrition. Britannia also focussed to serve those less fortunate who were most affected by the unforeseen circumstances during Covid-19 pandemic. Hence, this paper is an effort to study the policies and strategies adopted by Britannia Industries Limited for promoting CSR whereby it has extended the acronym of CSR from Corporate Social Responsibility to Corporate Sustainable Responsibility.

Is Bigger Always Better? Evaluating the Financial Performance of Punjab National Bank in the Post-Merger Era

Abhishek Srivastava, Audhesh Kumar — 2024-04-24

This paper portrays the financial performance of Punjab National Bank (PNB) after merger process, including the relevant indicators. PNB experienced a significant and strategic transformation of its operation process structure and positioning after the merger. The paper performs a quantitative analysis with assistance of financial metrics and performance indicators to assess the resilience and adaptability of the bank by evaluating its performance. The report encompasses profitability, asset quality, liquidity, and efficiency ratios to obtain a comprehensive view of PNB's financial health after the merger. This study provides evidence on the effectiveness of mergers and their impact by examining and measuring the outcome of the mergers on the financial performance of banks. It particularly studies the transformation of PNB in the merger aftermath pointing out how a merger affects the banking sector dynamics.

A Study on Consumer Awareness and Satisfaction Towards Health Insurance Policies

Tejbahadur Kannaujiya, Shweta Jaiswal, Nishtha Agrawal — 2024-04-24

The aim of the study is to determine the sources of consumer awareness about health insurance policies, and the level of satisfaction. Both primary and secondary data were used in the course of research. For the purpose of primary data the well-designed questionnaire is used to collect the responses from the policyholders through Convenience sampling method. The secondary data is gathered from daily newspapers, research articles, journals and the Insurance Regulatory Development Authority. The study's sample size was 211 respondents, and it was carried out in the city of prayagraj. out of 220 samples 211 are filled-out are reviewed and finalized. The study used percentage, Annova, chi square test for analysis of the hypothesis. According to the study's findings, the majority of respondents are well informed about health insurance providers and their offerings. Additionally, study establishes a strong relationship between satisfaction levels and knowledge of health insurance policies, it is essential to understand consumers' levels of interest in buying health insurance, to record the majority of respondents customers' awareness, and to suggest and educate consumers on how health insurance can reduce their financial burden during hospitalization.

SMARTPHONE ADDICTION IS DRIVING VARIABLE IN IMPULSIVE BUYING BEHAVIOUR

Vinay Babbar, J K Singh, Sanjay Kumar Singh, Girish Garg — 2024-04-24

The research study delves into the underlying reasons that trigger impulsive buying behaviour among the younger generation. The study has identified several factors that lead to impulsive buying. These factors include smartphone addiction, virtual reality, availability of credit facilities, seeking irrational happiness, materialistic values, consumer mood, social media influencers, panic buying, electronic word of mouth and promotion tactics. To understand the complex interrelationships that exist between the different variables, the research used the Interpretive Structural Modelling (ISM) technique combined with the SmartISM software. The study has found that mobile addiction is the independent variable in the model, which plays a pivotal role in driving the other variables. The concept of virtual reality plays a crucial role in the model as it acts as a linkage variable. It helps in establishing a relationship between the independent variables and the dependent variables. In other words, virtual reality serves as a mediator in the model, which facilitates the understanding of how the independent variables impact the dependent variables. Moreover, virtual reality also provides a simulated environment that allows researchers to manipulate and measure different variables in a controlled setting, which can be beneficial for conducting experiments or studies related to human behavior or cognition. The study indicates that mobile addiction has emerged as a major cause of impulsive buying among consumers in the current market scenario. The research findings offer a greater understanding of the complex phenomenon of impulsive buying and offer significant insights into the root causes and mechanisms that spur such behavior among the younger demographic.

Is Spirituality seen in a new light post-Covid-19? - A bibliometric Analysis

Meera Mehta, Shivani Arora, Renu Gupta — 2024-04-24

The present study conducts a comprehensive bibliometric analysis of the topic to examine the state of spirituality research in light of the COVID-19 epidemic. The topic of trending research and peer-reviewed publications in spirituality and COVID-19 were the main focus of the study. The authors retrieved 1263 peer-reviewed papers published in journals and books since 2020, from the Scopus database. As intended, the thorough analysis of the trends, scientific output, and thematic focus of spirituality and Covid-19 has been done using the Bibliometric technique. The pandemic was announced in 2019 and the analysis submits that the work on Spirituality in the light of the pandemic kickstarted in 2020. For the researchers in the field, the most elite publications for the research papers are the Journal of Religion and Health”, “Religions”, “Frontiers in Psychology”, “International Journal of Environmental Research” and “Public Health and Journal of Pastoral Care and Counseling”. The author, Ardnt Bussing with 13 papers in the field to his credit. Amongst the nations, the most research papers on Spirituality and COVID-19 have been published in the United States of America. The paper also highlights the institutions where the research in the field has been promoted and published. The word map has prominently revealed the most frequented words from the papers for the analysis viz., Covid-19 (632), Spirituality (193), Pandemic (121), Covid-19 and Pandemic (92), and Mental health.

The implications for the researchers in this field are the study of the basic themes like COVID-19 pandemic, mental health, and resilience are crucial topics but, not adequately researched. The emerging themes like palliative care, grief, and death are topics for potential future research. The present study provides the analysis of the research in the field and through that providing the directions of future research as indicated by the bibliometric analysis. These results are intended to help researchers—especially those who are just beginning to study spirituality in the light of COVID-19—choose which aspects of the field to concentrate on, what approaches have been most successful in the past, where to publish their work, which dimensions to investigate, and identify collaborations with authors and institutions.

DRIVING ENVIRONMENTAL SUSTAINABILITY: A COMPREHENSIVE REVIEW OF GREEN BANKING IN THE INDIAN FINANCIAL LANDSCAPE

Kalpana Kataria, Anil Kumar — 2024-04-24

The aim of the current study is to review the existing literature available on the concept of contemporary application of “Green Banking” as a sustainable approach in Indian context. The study indicates that the consumers as well as banks along with environment can be benefitted as it is approaching environmental sustainability which is requirement of the current era. Although the development of green banking, there is requirement of the development on part of cultivation of bankers, incentive systems must be established and a supportive external environment must be created. The study focuses on challenges and strength of “Green Banking” along with future scope of adoption of Green Banking also suggest further research areas for research also reviewed.

HARMONY IN ACADEMIA: INVESTIGATING WORK-LIFE BALANCE AMONG FACULTY MEMBERS IN MANAGEMENT INSTITUTES OF PRAYAGRAJ AND LUCKNOW REGIONS"

Shagufta Ali, Azra Ishrat — 2024-04-24

This study addresses the challenges of work-life balance in India's demanding work culture, emphasizing its impact on employee mental health. The escalating work hours and stressful conditions necessitate employer intervention for workload distribution. A survey reveals a correlation between balanced work-life dynamics and reduced stress. The research advocates for employer policies minimizing workload without compromising productivity. Lifestyle disparities underscore the need for personalized time management. Teaching professionals face unique challenges in balancing work and personal life.

The study identifies gaps in research, particularly regarding management institute faculties and work-life provisions in educational institutions. Objectives include investigating work-life schedules, examining demographic impacts, and scrutinizing existing policies. Findings indicate a positive work-life balance, influenced by marital status. Implications suggest instituting counseling services, promoting flexible work arrangements, and focusing on health initiatives for employee well-being. The study advocates for active employee involvement in planning and prioritizing work and personal commitments for optimal work-life balance.

Impact of Sub-Indices of GCI on GCI: Indian Evidence

Subrata Roy, Surjeet kumar — 2024-04-24

Competitiveness has become one of the important factors for economic growth Nowadays, Nations place more emphasis on increasing their competitiveness. This study aims to measure the effect of GCI sub-indices on GCI in India over the most recent 10 years, starting in 2008 and ending in 2017. The analysis first examines the data's normality and stationarity. multiple regression method is used to measure the effect of GCI sub-indices on GCI. A correlation matrix, VIF, and TOL are used in the study to check for multicollinearity issues. The study also uses the Cusum test to determine whether the regression parameters are stable and several residuals’ tests to determine the model's validity. The investigation shows that the variable is not stationary. However, the first difference operator's ADF and PP tests make it stationary, the parameters of the model are stable and the coefficients of the regression equation are statistically significant. This indicates that the GCI score depends on its sub-indices. Additionally, it notes that there is no serious multicollinearity issue but there is an autocorrelation and heteroscedasticity issue in the residuals.

Implication of M&As on Shareholders' Wealth- An Event Study Approach

Akansha Tandon, Himanshu Srivastava — 2024-04-24

Globalisation and liberalisation have made businesses from emerging countries, such as India, more assertive and have also made them resort to mergers and acquisitions to resolve conflicts arising from competition. Over half of bank mergers in India are the result of government policy actions aimed at rescuing weak banks with high non-performing assets (NPAs), especially in public sector banks, rather than market forces. It is crucial to comprehend how such mergers affect the shareholders' wealth because public sector banks make up a sizable and dominating portion of the Indian banking industry and have between 45% and 49% of their ownership held by private investors. This article examines the effects of the merger of the Vijaya and Dena Bank with the Bank of Baroda on the wealth of the acquiring bank's shareholders using event research methods in order to identify abnormal returns around the merger announcement. The findings demonstrate that Anchor Bank or the acquiring bank displayed negligible negative returns in a longer event window. However, in the short run, a negatively significant abnormal return was noticed.

Insights on Debt Behaviour: A Bibliometric Analysis

Raman Rohilla, Shweta Anand — 2024-04-24

This article conducts a comprehensive analysis of debt behaviour research, examining its evolving trends, influential authors, intellectual structure, collaborative networks, and thematic evolution. Through a systematic literature review and bibliometric analysis utilizing the Bibliometrix R-package, a dataset of 138 meticulously selected documents from the Scopus database is analysed. Findings reveal a notable increase in research productivity, with concentrations in finance, consumer studies, and marketing disciplines. Scientific mapping uncovers three knowledge structures: conceptual, thematic, and intellectual. This comprehensive examination offers invaluable insights into the scholarly landscape of debt behaviour research, serving as a vital resource for researchers and policymakers alike.

An Empirical Study of Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) in Determining the Expected Return Accuracy Level

Jivesh Nandan, Shalini Kushwaha — 2024-04-24

This study covers the two important models of pricing of securities: CAPM and APT which provides information to the investor the securities is beneficial or not from investment point of view. This study aims to examine the accuracy levels of the CAPM and APT approaches, as well as identify the suitable stocks to be chosen based on each approach. Additionally, it uses Mean Absolut Deviation (MAD) to ascertain the accuracy level of the projected return of the stock. From the calculation of expected return in CAPM and APT, there are 5 eligible stocks to be selected either based on CAPM and APT methods such as: TCS.NS, ASIANPAINT.NS, HCLTECH.NS. INFS, WIT.NS MAD APT method is more accurate than MAD CAPM in determining the expected return. Comparative analysis reveals no discernible difference between the accuracy of the APT and CAPM approaches for predicting a company's stock return on the National Stock Exchange (NSE) of India. The selection of sample size of the study is top 15 companies listed in Nifty-50 index on the basis of market Capitalization. These companies are represents the various segment of Indian economy.

Investigating Relationship between Job Burnout and Intention to Quit Job Among Working Professionals

Naghma Ali, Sarvesh Singh — 2024-04-24

Purpose: The aim of the paper is to investigate the relationship between Job Burnout and Intention to Quit.

Design/Methodology/Approach: The paper is based on primary data to understand relationship between Job Burnout and Intention to Quit. Correlation analysis was used to measure the relationship between Job Burnout and Intention to Quit.

Findings: Job Burnout had significant relationship with Intention to Quit. Also dimensions of Job Burnout were also reported to be related with Intention to Quit.

Implications: The present study enriches the understanding of Job Burnout and Intention to Quit. It contributes to understanding the relationship between Job Burnout and Intention to Quit. Several implications are also suggested in the study.

Scope for Future Work/Limitations: Empirical studies could be carried out in diverse geographic and cultural milieus to make the picture more clear.

Navigating the Obstacles: A Systematic Review of Challenges Faced by MSMEs in India

Archana Singh, Nisha Sharma — 2024-04-24

MSME has a significant role to play in Indian economy. It consists of approximately 63.3 million MSME units across the country. These units contribute not just to manufacturing and service activities but also in employment generation, GDP and export of the country but sadly there are many challenges that MSME in India has to face across various levels. Challenges such as limited transportation and communication networks, inadequate technological advancements, insufficient infrastructure, lack of financial resources, deficiency in managerial skills, and a lack of awareness regarding quality standards, among others. This paper aims to consolidate the efforts made by various researchers who have attempted to predict the challenges faced by MSMEs. It presents a compilation of literature reviews focusing on the challenges of MSMEs, making it a valuable resource for future researchers seeking relevant literature in one comprehensive document.

Effect of Entrepreneurial Characteristics on the Work-life Balance of Women Entrepreneurs in the Chhattisgarh Region

Shreya Kushwaha, Raj Maurya, Shubham Rajpal — 2024-04-24

The involvement of women as an entrepreneur has steadily expanded, considerably contributing to economic development and social advancement. Women entrepreneurs confront unique problems in balancing their lives at home and at business, especially in regions where conventional gender norms exist, such as Chhattisgarh, India. The intent of the study is to investigate the effect of entrepreneurial qualities on work-life balance among women entrepreneurs in Chhattisgarh. The study uses exploratory statistics to obtain data from 200 women entrepreneurs utilizing a questionnaire schedule. A sample of 200 was analysed through SPSS and the study has employed statistical tools for analysis are factor analysis, reliability, correlation, and regression to examine the hypothesis of the study. The study identifies various entrepreneurial characteristics, including industry and cultural context, social characteristics, work-life balance, personal characteristics, and innovative strategies and examines their role in shaping the work-life balance of women entrepreneurs. The findings reveal that cultural and societal expectations often challenge women entrepreneurs' ability to balance their professional and personal lives. Industrial and cultural factors emerge as significant determinants, with varying degrees of support affecting work-life balance outcomes. By addressing the specific entrepreneurial characteristics identified in this study, policymakers, and business support organizations, may recognize the particular obstacles faced by women entrepreneurs in Chhattisgarh.

Public Sector General Insurance Companies in India: Performance Trends

Sonika Sharma — 2024-04-24

A robust system of financial intermediaries has always been perceived as an indispensable requirement of for economic development of underdeveloped countries. A comprehensive network of such intermediaries has been developed in India since it gained independence. The General Insurance Corporation of India is one such financial intermediary. In the year 1972 the general insurance business was brought under the control of government of India. The General insurance corporation was established as a government company with its four subsidiaries namely the National Insurance Company, the New India Assurance Company, the Oriental Insurance Company and the United India Assurance Company. In December 1999 the sector was opened up to private participation. While in March 2003 the subsidiaries were delinked from GIC. Whether the increased competition from private players has improved the performance of these companies or still there is a lot more to be desired is what has been analysed in this paper.

The performance of public sector general insurance companies has been studied in terms of (i) incurred claims ratio, (ii) solvency ratio and (iii) insurance penetration and density during the period of eight years from 2013-14 to 2020-21. Results showed that New India is performing better than the other three public general insurance companies. United and National are having large volumes while Oriental despite being lower in volume is showing higher growth rates of majority of the variables under study. The steps that have been taken during the reform period have been able to achieve the objective to a certain extent but still there is a scope for a lot of improvement as these companies are still behind the private sector insurance players and very far behind the world average.

A Pivotal Study on Electric Vehicles’ Purchase Intention in Delhi-NCR, India

Barkha Rani. Priyanka — 2024-04-24

Governments everywhere are adopting policies that encourage the use of electric vehicles to reduce dependence on foreign oil, reduce greenhouse gas emissions and improve air quality. The Indian government, too, has placed several policies to encourage users across the country to use electric vehicles. However, the results have not been quite impressive. Therefore, the researchers wanted to understand the reasons for the same. After a thorough literature review, it became clear that people around the world are not very aware of the benefits of electric cars. So, the current study focused on two major objectives. First, to understand the level of awareness among Indian users regarding electric vehicles. Second, investigate the effect of awareness on customer purchase intention. The study's conclusions will add to the current discussion about the viability and uptake of electric automobiles in the Delhi-NCR area. These findings can be utilized by policymakers, automobile manufacturers, and interested parties to develop focused marketing strategies, implement appropriate incentives, and establish the necessary infrastructure to accelerate the change in Delhi-NCR's transportation system to one that is more sustainable and friendly to the environment.

An Evaluation of State Bank of India's Risk Profile and Financial Performance in the Pre and Post-Merger Era

Bushra Shazli, lamaan Sami — 2024-04-24

In the preceding decade, the banking sector in India has undergone considerable advancements. This progression is attributed to the confluence of liberalisation, globalization, and technological innovations within the sector. PSBs find themselves confronted with formidable competition emanating from both private and foreign sector banks. Consequently, to endure and thrive within the market, banking entities have resorted to the adoption of diverse strategic measures. One such strategic approach entails the consolidation of banks through mergers. Thus, the present discourse seeks to underscore the imperative of scrutinizing the SBI merger in 2017—a seminal event representing the most substantial merger within the Indian banking industry to date.

This research endeavour is characterized by its profound nature, encompassing a comprehensive examination and comparison of the risk profiles of SBI and merged banks before the merger. Furthermore, the investigation extends to assessing the impact of the merger on the risk profile of SBI after the merger. The analytical process involved the meticulous examination of secondary data of SBI and merged banks, facilitated by the application of three pivotal financial ratios. The findings disclosed the subpar performance and elevated risk exposure of certain associate banks, thereby substantiating the imperative nature of their amalgamation with SBI. The outcomes of paired T-Test analyses divulged that a significant disparity was observed in CAR, credit deposit ratio, and the Net NPA to Net Advances Ratio (NNPP to NAR), indicative of the discernible impact of the merger.

In culmination, regression analysis was performed to appraise the influence of NNPP to NAR on the management efficiency and earning capability of SBI before and after the merger. The results unveiled a significant and adverse correlation between the NNPP to NAR and the Return on Average Assets Ratio, persisting across both periods. Conversely, concerning earning efficiency ratios, it was discerned that the RER and NPMR, before and after the merger were adversely and significantly affected by the NNPP to NAR.

Financial Self-Efficacy: Mediating Financial Literacy and Investment Behaviour among Private Sector Employees

Smita Dikshit, Khushboo Hussain — 2024-04-24

With the advancement in the world of finance, individuals working at all levels are inclined towards financial self-efficacy. There are huge opportunities of investments in the stock market which if invested by self-informed and financially literate individual can earn handsome returns from their investments. But again, being literate does not guarantee financial literacy and that is why employees find it challenging to make financial decisions on their own. This study evaluates financial literacy and financial investments in stock market by the private sector employees using financial self-efficacy as the mediating variable using Baron and Kenny method of mediation (1986). The study is conducted with a sample of 200 private sector employees from National capital region (NCR), India selected by using simple random sampling method. The result found that there is significant impact of financial literacy on the financial investment decision of the employees in the stock market. The study also found that financial self-efficacy perfectly mediates the association between financial literacy and financial investments in stock market by the respondents.

Investigating the impact of Financial Barriers, Regulatory Landscape and Societal Backing on Women-Led Enterprises in India: An Empirical Investigation Using PLS-SEM

Shubham Mishra, Akanksha Mishra, Simant Pratap Singh, Brajendra Upadhyay — 2024-04-24

The aim of our study is to develop and authenticate three factors, i.e. Financial Barriers, Regulatory Landscape and Societal Backing that influence Women-Led Enterprises in India. We developed a conceptual research model based on extensive review of literatures, and we collected the data from 158 business women residing across various parts in India. We generated the items after validity, reliability and we conducted our analysis with IBM SPSS 26 software. The scale finally developed was authenticated and the data was analysed through PLS-SEM. The results show that Financial Barriers, Regulatory Landscape and Societal Backing are the main factors that influence Women-Led Enterprises in India. Business women in India consider determination, risk-taking ability, independence, self-confidence, responsibility, courage, patience, and carefulness as vital attribute for being an entrepreneur. The findings of our study indicate that there are a number of factors that impact women-led businesses and that these factors can significantly affect their businesses, which is useful for companies and government officials who want to reduce the risks associated with starting up and preventing failures. This research enhances our understanding of the diverse elements impacting businesses led by women in developing nations such as India. Moreover, it offers practical insights that can aid in the formulation of policies aimed at fostering female entrepreneurship.

Understanding the Factors Influencing Pricing and Performance of Initial Public Offering: A Literature Review

Abhay Ahuja, Pankaj Kumar, Raman Bisht — 2024-04-24

The Initial Public Offering (IPO) is remarkably discussed as the most powerful capital market instrument for investors and issuers. The objective of the paper is to review the literary work conducted on pricing and performance of initial public offerings to investigate important factors and prevailing themes of IPO pricing and performance. The focused keywords are ‘IPO Performance, Initial Public Offerings Performance, Post-IPO Performance, and IPO Initial Returns’. A simple descriptive approach to statistics and network, coupling and cluster approaches of bibliometric techniques are used in data description and analysis. It is observed that the underpricing and performance of IPO depend on important factors such as the strategic decision of the firm, management linkage, duration between allotment and listing of an IPO, investor relation, risk, leverage, earnings management, venture capital syndicate, management board, distinct signaling effects, political connection, group affiliation, institutional investors, agency problems, corporate governance and so forth. IPO performance gained prominence among scholars since 2008 which need to address the gaps as an opportunity for future research.