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Globally, the landscape of corporate carbon disclosures (CCD) is continually evolving as societal, environmental and regulatory expectations change over time. The goal of this study is to examine the challenges faced by Indian firms’ corporate carbon reporting (CCR). The literature recognized the hurdles to reaching net zero emissions and decarbonization, which are equally applicable to carbon disclosure (CD).

The scope 3 emission disclosure barriers (S3EDBs) identified from the literature were ranked, and their relationships were discovered using the “Grey-based decision-making trial and evaluation laboratory” (Grey- DEMATEL) technique.

The key findings are the S3EDBs, the most prominent barriers, their interrelationships and important insights for managers of organizations in prioritizing the action area for scope 3 CD. Eight S3EDBs were categorized in terms of cause and effect, threshold value is calculated as 0.78. “Quality, and reliability of data,” “Government policies and statutory requirement on emission disclosure” and “Traceability and managing supply chain partners” are the most prominent S3EDBs.

The results will help industry people in countries with emerging economies that have significant scope 3 carbon footprints. The managers can plan to deal with top S3EDBs as a step towards decarbonization and ultimately fighting climate change (CC).

This study is one of the first to rank these barriers to CD so that industry practitioners can prioritize their actions. The core contribution of this research is to detect the most significant S3EDBs and their interdependencies.

The new technology aspects of Industry 4.0 (I4.0), such as digital technologies including artificial intelligence (AI), block chain, big data analysis and the internet of things (IoT) as a digital cosmos, have the potential to fundamentally transform the future of business and supply chain management. By augmenting the functional components of the food supply chain (FSC), these technologies can transform it into an intelligent food supply chain (iFSC). The purpose of this study is to identify the I4.0 utilization for FSC to become an iFSC. Additionally, it suggests future research agendas to bridge the academic knowledge gaps.

This study utilizes the bibliometric analysis methodology to investigate the techno-functional components of iFSC in the context of I4.0. The study followed steps of bibliometric analysis to assess existing components’ knowledge in the area of intelligent food supply chain management. It further reviews the selected articles to explore the need for I4.0 technologies’ adoption as well as its barriers and challenges for iFSC.

This study examines the integration of emerging technologies in FSC and concludes that the main emphasis is on the adoption of blockchain and internet of things technology. To convert it into iFSC, it should be integrated with I4.0 and AI-driven FSC systems. In addition to traditional responsibilities, emerging technologies are acknowledged that are relatively uncommon but possess significant potential for implementation in FSC. This study further outlines the challenges and barriers to the adoption of new technologies and presents a comprehensive research plan or collection of topics for future investigations on the transition from FSC to iFSC. Utilizing artificial intelligence techniques to enhance performance, decision-making, risk evaluation, real-time safety, and quality analysis, and prioritizing the elimination of barriers for new technologies.

The uniqueness of this study lies in the provision of an up-to-date review of the food supply chain. In doing so, the authors have expanded the current knowledge base on the utilization of all I4.0 technologies in FSC. The review of designated publications yield a distinctive contribution by highlighting hurdles and challenges for iFSC. This information is valuable for operations managers and policymakers to consider.

This study aims to explore the intricate relationship between uncertainty indicators and volatility of commodity futures, with a specific focus on agriculture and energy sectors.

The authors analyse the volatility of Indian agriculture and energy futures using the GARCH-MIDAS model, taking into account different types of uncertainty factors. The evaluation of out-sample predictive capability involves the application of out-sample R-squared test and computation of various loss functions.

The research outcomes underscore the significant impact of diverse uncertainty factors such as domestic economic policy uncertainty (EPU), global EPU (GEPU), US EPU and geopolitical risk (GPR) on long-run volatility of Indian energy and agriculture (agri) futures. Additionally, the study demonstrates that GPR exhibits superior predictive capability for crude oil futures volatility, while domestic EPU stands out as an effective predictor for agri futures, particularly castor seed and guar gum.

The study offers practical implications for market participants and policymakers to adopt a comprehensive perspective, incorporating diverse uncertainty factors, for informed decision-making and effective risk management in commodity markets.

The research makes an inaugural attempt to examine the impact of domestic and global uncertainty indicators on modelling and predicting volatility in energy and agri futures. The distinctive feature of considering an emerging market also adds a novel dimension to the research landscape.

This paper aims to investigate the effect of economic policy uncertainty (EPU) shocks on Indian equity market sectors. The effect of domestic (Indian) and foreign (USA) EPU shocks is examined on ten major Bombay Stock Exchange sectors.

The study uses data covering the period from September 2005 to July 2023 and uses the methodology of quantile regression to investigate the heterogenous response of stock market sectors under diverse market conditions explained through the analysis of conditional quantiles distribution.

The results demonstrate that domestic and foreign EPU shocks negatively affect most of the sectors in bearish market conditions. Industrials, commodities, utilities, consumer discretionary and financial services are the most affected sectors by domestic EPU. However, the information technology sector is found to be immune to domestic EPU shocks but negatively affected by foreign EPU shocks. On the other hand, energy, financial services and fast-moving consumer goods sectors are found to be immune to foreign EPU shocks but are negatively affected by domestic EPU shocks.

Understanding the heterogeneous response of different sectors to EPU shocks could help investors and portfolio managers identify portfolio diversification opportunities.

This study makes an inaugural attempt to examine the responses of Indian stock market sectors to domestic and foreign EPU shocks using the approach of quantile regression and unveils the previously unexamined diverse reactions of Indian stock market sectors to EPU shocks originating from both India and USA.

This study examined Indian institutional investors' holding data to understand their investment strategy (Portfolio Concentration/Diversification) and explored whether their skills were associated with their portfolio strategy and performance. The study introduced a new proxy to identify skilled investors by forecasting abnormal returns. Moreover, the study also highlighted where skilled Indian investors put their money for long-term investment.

This study measures portfolio concentration based on the number of holdings, the Hirschman–Herfindahl index (HHI) and benchmarks adjusted industry concentration. The study introduced a new proxy to identify skilled investors. We measured Investors' performance with the help of Carhart's four factors model and examined the relationship between variables through various regression models.

The study concluded a negative relationship between portfolio concentration and performance. However, skilled Indian investors get rewards from portfolio concentration decisions. It was found that skilled investors with few stocks and an industry concentration in their portfolio show a positive association between concentration and fund performance. Additionally, this study found Indian investors showing their faith in the financial sector for long-term investment.

This study examined Indian institutional investors' portfolio concentration strategy and introduced a new proxy to measure investors' skills.

Creditor rights reduce or increase agency problems in corporations, affecting financial decisions. This study examines the impact of India’s Insolvency and Bankruptcy Code of 2016 (hereinafter referred to as the Code) on firms’ investment and investment sensitivity based on their health, considering this Code as more creditor-friendly than pre-existing bankruptcy laws.

This study uses a quasi-natural experiment that employs the difference-in-differences (DID) and propensity score matching difference-in-differences (PSM DiD) approach by considering the Code as treatment and categorizing the firms into distressed (treated group) and healthy (control group) firms. For the purpose of analysis, a fixed-effect regression model is used.

This study finds that distressed firms reduce their investment after the Code, but healthy firms do not observe any change. It shows that the reduction in investment of the distressed group is significantly greater than that of the healthy group due to agency conflict and the liquidation bias hypothesis. However, the reduction in investment is not followed by the change in investment sensitivity.

This study adds to the existing studies on the impact of the Insolvency and Bankruptcy Code, 2016 on investment. No study explores the relationship between this Code and investment based on the financial health of the firms. Also, none of the studies explores the impact of the Code on investment sensitivity. The results show that this Code has provided stronger protection to the creditors, which hurts the internal stakeholders’ interests. The study has implications for policymakers and academicians.

This study primarily examines the link between carbon and financial performance in the Asia-Pacific region. In addition, the study also explores how the economic impact of carbon performance varies in carbon-intensive and non-carbon-intensive industries.

This study takes a sample of 1,539 non-financial firms from 13 Asia-Pacific countries from 2014 to 2021. It employs a firm-fixed effect panel regression model to examine the objective.

The findings indicate that carbon performance improvement enhances accounting-based and market-based financial performance. The positive impact of carbon abatement stems from increased operational efficiency, energy efficiency and lower production costs. Further, the stock market participants also reward the firm for carbon efficiency. However, the carbon intensity of industrial sectors presents a conflicting picture for this association.

This study adds insights to the literature by providing a contemporary reflection on the nexus between carbon emissions and economic outcomes in the understudied Asia-Pacific region. It also unveils the nuanced difference in the carbon-financial performance relationship attributed to industries' carbon sensitivity.

The mounting focus on environmental, social and governance (ESG) factors in business has sparked substantial curiosity in understanding the nexus between ESG and the companies’ strategic decisions. This study aims to investigate the influence of firms’ ESG disclosure scores on their dividend payout. Furthermore, it examines the nuanced dynamics of this relationship by exploring the moderating role of the country’s investor protection regulations and regulatory enforcement.

This study uses pooled ordinary least square regression with year, industry and country effects. It analyzes a balanced panel data set of 192 non-financial firms drawn from the primary equity indices of BRICS nations. This study examined the data of six years spanning 2015–2020.

The findings discover a significantly positive relationship between ESG scores and dividend payout ratio, conveying that firms with higher ESG scores allocate more of their profits as dividends. Furthermore, the finding reveals that country-level robust investor protection and effective regulatory enforcement mechanisms undermine the positive association between ESG ratings and payouts of dividends, suggesting that the ESG disclosure of firms operating in a setting characterized by enhanced investor safeguards and stricter regulatory oversight will exert less influence on their dividend decisions.

To the best of the authors’ knowledge, this is the first study to concentrate on the ESG–dividend nexus in the BRICS countries. Furthermore, this study used each country’s investor protection index and regulatory enforcement scores to comprehend the influence of country-level legal frameworks in shaping the relationship between ESG and dividend decisions, thus adding value to the existing literature on corporate sustainability.

The learning objectives of this case study are based on Bloom’s taxonomy. Upon completion of the case study discussion and exercises, successful students will be able to design a leadership transition and succession plan for non-profit organisations; identify and evaluate critical skills and competencies required in leadership positions; and frame expectations and responsibilities for new and departing executives.

Apar Gupta co-founded Internet Freedom Foundation (IFF), a digital rights organisation born out of SaveTheInternet – Net Neutrality movement of 2015, credited for urging the Telecom Regulatory Authority of India to uphold net neutrality in India. And ban zero-cost internet services that promoted data discrimination in the country. After working on and winning the net neutrality movement, Gupta identified many areas in technology where democratic rights had not been identified or were yet to be clearly defined (like in the case of net neutrality). There was also a service gap between the existing internet volunteer groups and digital rights organisations, which could IFF fill. This was to provide objective clarity, stakeholder identification, handle policy discussions and, most importantly, arrange resources to support movements over the long term. This prompted him to co-found IFF in 2017, which he later joined as a full-time executive director in 2018. IFF worked at the intersection of technology, democratic rights and government policies and was comparable to some global organisations, such as the Electronic Frontier Foundation in the USA and the Open Rights Group in the UK. Still, none existed in India at the time. After four years as a full-time executive director in 2022, he was convinced that it was finally time for him to act on the pre-defined strategic departure plan and work towards succession for the executive director position. While there were visible gaps in the system, Gupta’s leadership design and plans had helped IFF overcome existential challenges in the past. Also, while digital rights were still at a nascent stage in emerging economies, under Gupta’s leadership, IFF had delivered unmatched value to its beneficiaries in the world’s biggest digital consumer market. However, constant changes in regulations and continuing financial constraints made him nervous about the outcomes of the succession and the overall sustainability of IFF. Gupta wanted to ensure that this phased transition from executive director after two years and then trustee manager after the next four years are carefully communicated to reduce the likelihood of attrition and loss of trust.

Being the co-founder and the first and only executive director IFF had seen, the organisation would also require significant skill and competency mapping to identify the new executive leadership. But with no clear internal successor in sight, the non-profit trust would also need a successor who not only was competent but also would share a passion for the type of work done by IFF, its unique delivery mode, and also would openly inherit its position in society. The other alternative strategic routes present were to look for dual leadership or interim leadership, but then there could be concerns about Gupta’s influence overshadowing any such alternative.

In the case scenario, IFF is planning for succession while navigating the organisation through financial constraints and constant regulatory changes to ensure long- and short-term sustainability.

The case study has been written to gain insights into departure-defined successive planning in non-profit organisations. The case study can also be used to gain insights into innovative start-ups and innovative non-profit start-ups, as digital rights are still at nascent stages in emerging markets. The case study will be valuable for courses such as human resource management, strategic human resource management, social entrepreneurial leadership, leadership development, start-up environment, innovation and entrepreneurship, public policy, development studies, cyber security and information technology. The case study also allows students and young professionals to take the perspective of an innovative start-up founder and design a departure-defined succession plan. The case study can also be useful for senior students wanting to undertake an entrepreneurial career by starting or joining a non-profit organisation. While the case study is suitable for postgraduate- and executive-level courses, it can also be used for conducting entrepreneurial workshops and skill training.

Teaching notes are available for educators only.

CSS 3: Entrepreneurship.

The purpose of the study is to identify the factors affecting the entrepreneur's choice of the dairy value chain and evaluate the impact of the value chain on farm performance (profit).

Primary data were collected from dairy entrepreneurs in India, covering nine states. A multinomial treatment effect model (controlling for selection bias and endogeneity) was used to evaluate the impact of the choice of the value chain on entrepreneurs' profit.

Dairy entrepreneurs operating in any recognized value chain other than the value chain driven by the consumer household realize a comparatively lesser profit. Dairy farmers have established direct linkages with customers in urban areas – who could pay premium prices for safe and quality milk. Food safety compliance is positively associated with profit and entrepreneurs (who have undergone formal training in dairying) preferred partnerships with a formal value chain. The prospects of starting a dairy enterprise are slightly higher in villages compared to urban areas.

Dairy entrepreneurs can make a shift in accordance with the study's findings and boost their profitability. It aids in comprehending how trainees (who obtained advice and training for raising dairy animals from R&D organizations) and non-trainee dairy farmers make value chain selections, which ultimately affect profitability. However, purposive sampling and a small sample size limit the universal implications of the study.

Developing entrepreneurial behavior and startup culture is at the center of policymaking in India. The findings imply that the emerging value chain not only enhances the profit of dairy farmers by resolving consumer concerns about food safety and the quality of milk and milk products but also builds consumer trust.

This paper offers insight into how the benefits of dairy entrepreneurs vary with their participation in the different value chains. The impact of skill development/training programs on value chain selection and farm profitability has not yet been fully understood. Here is an attempt to fill this gap. This paper through light on how trained and educated dairy entrepreneurs are able to establish a territorial market by approaching premium customers – this is an addition to the existing literature.