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The study investigates the impact of the interaction effect of product market competition and rollover risk on the default risk of the firms.

The study used the sample of unbalanced panel data from Indian corporates without any survivability bias over the period from 2009 to 2020 consisting of 30,396 firm-year observations of 6,718 firms spread across 143 industry groups. The panel data regression tests the interaction effect in the context of the asset substitution problem, predation threat theory, competitive shock, and competitive risk.

The empirical results highlighted the dominance of the predatory effect of competition over the disciplinary advantage of short-term debts. The competitive shock to the industry results in a higher credit spread for refinancing short-term debt and significantly increases rollover risk for firms. Smaller firms have higher default risk from rollover losses than larger firms in the face of competition due to asset-substitution problems and strong rivalry. For firms with weaker fundamentals, the interaction effect of rollover risk and competition exacerbates the flight-to-quality problem, resulting in a systemic event.

The investors can benefit by factoring ex-ante the interdependence of competition, debt market illiquidity, and default premia while calculating the credit risk. The shareholders of competitive firms can reduce the moral hazard of refinancing the rollover losses and defaulting at a higher fundamental default threshold, by reducing sub-optimal utilization of funds by managers and agency costs.

As per the best of author knowledge, the present study is the first to study the moderating effect of product market competition in exacerbating default risk through the rollover channel.

The purpose of this paper is to explore the tourists' perception of smart tourism with the application of virtual reality and design a framework of smart tourism with elements of VR for Indian Tourism especially in the periods of the pandemic COVID-19. The ever-evolving and unprecedented COVID 19 situation had posed extreme challenges for the travel and tourism industry. In such conditions, it is becoming increasingly necessary to rely on digital technologies, ICT and smart tourism. ICT has served as a catalyst for innovations in tourism.

This study investigates the impact of smart tourism and virtual reality technology on the perception of tourists towards travelling decisions during and post COVID-19 scenario. The respondents involved in the study were tourists travelling in India, the tourists come from different parts of India. A structured questionnaire has been administered to collect data from 224 travellers across India. The questionnaire consisted 22 constructs. The constructs in this section were measured using a five-point Likert scale ranging. In the first step, the first order Confirmatory Factor Analysis (CFA) is carried out, by using the software IBM AMOS-20. The initial model is generated ix constructs, and outcomes are used to analyse the model's goodness of fit and construct validity. In the second step, Structural Equation Modelling (SEM) is carried out to do the path analysis of the proposed model. The effect of relationships amongst the theoretical constructs is also analysed using SEM.

The findings imply that the application of smart tourism along with virtual reality forms a positive perception of tourists and provides a sustainable platform for tourism organizations in Indian tourism. Virtual reality-based tourism has emerged as alternate for the tourism industry during the times of Covid, which in long run can be seen as a substitute to traditional tourism. The increasing use of blue ocean concepts, to delivery high-value experience at low cost has complimented the tourism industry. The researchers have made a modest attempt by proposing a blended model of smart tourism with virtual reality as a blue ocean strategy and which would ultimately facilitate the sustainability of the Industry by creating multi-dimensional values of experience for tourists in India.

The researchers have made a modest attempt by proposing a blended model of smart tourism with virtual reality as a blue ocean strategy, which would ultimately facilitate the industry's sustainability by creating multi-dimensional values of experience for tourists in India.

This qualitative study designs a smart tourism system with the use of the recent advances in ICT and Virtual Reality (VR), as a bridging solution and the saviour of the tourism sector in India during COVID 19. The integration of ICT into the travel experience has resulted in the social phenomena of smart tourism. This has led to a rise in use of smart tourism tools among tourism service providers.

This study aims to examine the impact of home–host country distance on the cross-border mergers and acquisitions performance.

The results of this study are based on a final sample of 483 completed cross-border deals involving BRICS nation acquirers and targets spread across a set of 27 nations. While controlling for prior experience, among other factors, the impact of nine institutional distance dimensions on deal performance is examined. Cumulative abnormal returns calculated over the select event windows are used as a measure of deal performance.

The results of this study validate the explanatory power of cross-country distance and exhibit that financial and cultural distance exert a negative influence on deal performance, whereas political and global connectedness distance positively impacts performance. Interestingly, geographic distance is not found to be related to performance outcomes.

The results of this study caution against possible aggregation of the cross-country distance measure and point towards the need to acknowledge and analyse the multi-dimensional nature of distance.

The results of this study are expected to aid managers in devising internationalisation strategies and target selection, maximising their performance and shareholder wealth.

This study contributes to the knowledge of internationalisation and cross-country distance. It presents as one of the first to investigate the impact of institutional distance on deal performance using a substantially large multi-country emerging market data set.

The study aims to evaluate and compare the mergers and acquisitions (M&As) performance utilising a sample of deals originating from Brazil, Russia, India, China and South Africa (BRICS). In addition to nation-wise performance analysis, a further sub-sample analysis is conducted based on the target location (domestic and cross-border), development status (developed and emerging) and the acquired ownership stakes (majority and minority).

The final sample of the study includes 7,105 deals announced between 2000 and 2019. M&A performance is proxied by the abnormal returns earned over the select event windows. Multiple parametric and non-parametric tests are employed for testing the robustness.

The results indicate significant performance differences across BRICS markets, with the highest and lowest abnormal returns reported for Chinese and Russian acquirers, respectively. The disaggregated analysis also affirms the performance differences for the select sub-samples.

The study highlights the need for acknowledging and expounding the differences in M&As across emerging markets. Further, the results of the study provide a possible explanation of the disagreement over the M&A performance results reported in the previous literature.

Acknowledging and understanding the potential performance differences based on location, ownership strategies and development status can aid executives in sharpening decision-making and also help general investors.

The study contributes by examining a comprehensive sample of deals across five major emerging economies, as against the majority of previous studies which have their results based on either single nation samples or have utilised only a sub-sample of domestic or foreign acquisitions.

This paper is supposed to provide a critical review of current research progress on thermal management in grinding of superalloys, and future directions and challenges. By understanding the current progress and identifying the developing directions, thermal management can be achieved in the grinding of superalloys to significantly improve the grinding quality and efficiency.

The relevant literature is collected from Web of Science, Scopus, CNKI, Google scholar, etc. A total of 185 literature is analyzed, and the findings in the literature are systematically summarized. In this case, the current development and future trends of thermal management in grinding of superalloys can be concluded.

The recent developments in grinding superalloys, demands, challenges and solutions are analyzed. The theoretical basis of thermal management in grinding, the grinding heat partition analysis, is also summarized. The novel methods and technologies for thermal management are developed and reviewed, i.e. new grinding technologies and parameter optimization, super abrasive grinding wheel technologies, improved lubrication, highly efficient coolant delivery and enhanced heat transfer by passive thermal devices. Finally, the future trends and challenges are identified.

Superalloys have excellent physical and mechanical properties, e.g. high thermal stability, and good high-temperature strength. The superalloys have been broadly applied in the aerospace, energy and automobile industries. Grinding is one of the most important precision machining technologies for superalloy parts. Owing to the mechanical and physical properties of superalloys, during grinding processes, forces are large and a massive heat is generated. Consequently, the improvement of grinding quality and efficiency is limited. It is important to conduct thermal management in the grinding of superalloys to decrease grinding forces and heat generation. The grinding heat is also dissipated in time by enhanced heat transfer methods. Therefore, it is necessary and valuable to holistically review the current situation of thermal management in grinding of superalloys and also provide the development trends and challenges.

The relationship between medicine and video games is growing tremendously. In the field of medicine, realistic simulation and games have risen in popularity, and in turn, gamification has transformed the game elements into a non-gaming world for human engagement like motivation and performance. It is not surprising that game-based learning has branched out in the realm of the medical world. The person’s psychological state determines the effectiveness of education during training. This study aims to examine how the usage of immersive technology impacts users’ tendency to access immersive resources for learning during an emergency like the COVID-19 pandemic. Augmented reality (AR) apps have grown to be a popular tool in education nowadays. The purpose of using AR applications is to impart knowledge during the COVID-19 pandemic. An investigation was conducted to test the effectiveness of immersive technology in learning by developing a game-based experimental model and testing it on 100 non-randomly selected users of various ages. This study shows that users are open to new teaching approaches, including AR applications, in response to the challenges presented by the pandemic. AR applications provide a potential solution to the difficulties associated with education by providing an immersive and interesting experience that enhances learning-based results. This demonstrates that while using AR apps, an individual’s viewpoints and sense of control over their learning are more essential in influencing their conduct. By integrating AR apps into learning systems, immersive education may enhance users’ engagement, motivation and overall learning experiences.

Convenience sampling was chosen as the method for data analysis. One hundred users from a leading private university in the northwest part of India participated in this study. This gave a minimum sample size of 79 participants. To analyse the user experience (UX), a UX questionnaire was adopted. In this research paper, the researcher explores the importance of immersive games that emphasise awareness and experience through a series of questionnaires to assess the effective awareness of COVID through immersive technology, because the immersive element plays a major role in the quality and success of awareness through COVID-19 fighter video games as an interactive learning platform.

Results showed that most people do not know how to deal with an infected person in a critical situation; either they feel scared or deal without taking precautions. COVID-19 fighters are empowered with a virtual patient, which players can interact with. Once the user finishes the FPS game, he must find out the source of viruses that will be an AR-based virtual patient. The first step of the instruction will ask the user to give the mask to the infected person; in the second step, it will ask the user to sanitise his body. In the third step, it will ask to hospitalise.

The research offers empirical evidence on the effectiveness of augmented reality-based game approaches to increase reality in basic education to boost the awareness of individuals. The report also gives an example of good cross-cutting education materials that provide the player with a very valuable tool for understanding knowledge of covid awareness by playing the COVID-19 fighter game.

The study aims to determine the role of online retail website experience on brand happiness and willingness to share personal information using the theoretical lens of the Stimulus-Organism-Response (SOR) framework. Further, it explores the role of brand intimacy and brand partner quality in mediating the path between brand happiness and willingness to share personal information.

This study used a cross-sectional survey design to collect data from 439 online retail consumers in India, using an online questionnaire. The data were analysed using Structural Equation Modelling in IBM Amos.

The present study found that online retail website experience is significantly related to brand happiness. The finding also supports that brand happiness was positively and significantly related to ‘consumers' willingness to share personal information. This relationship was fully mediated by brand intimacy. Brand happiness also mediated the relationship between website experience and the willingness to share personal information.

This study contributes to the emerging literature on brand happiness and willingness to share personal information. It establishes a central role of brand happiness as a driver and a mediator of consumers' willingness to share personal information with e-commerce retailers, extending the stimulus-organism-response framework in the context of brand happiness and willingness to share personal information. Further, the study establishes the role of website experience as a marketer (and brand) led driver of brand happiness.

The results have implications for the role of the website in enhancing the consumer experience, which in turn is a driver of brand happiness. Further, managers need to promote brand happiness with the help of website experience to enable consumers’ willingness to share personal information and help organizations customize their marketing campaigns.

This is among the first studies to evaluate brand happiness from the perspective of an online retail website experience and consider consumers’ willingness to share personal information from a branding rather than a technological perspective. Additionally, the study introduces the SOR framework in the context of brand happiness, with website experience acting as a stimulus for consumers, resulting in brand happiness, which is mediated by brand partner quality and brand intimacy (organism), leads to consumers' willingness to share personal information with online retail brands (response).

The study is positioned at the crossroads of transformative social marketing and social innovation literature through the lens of participatory design (PD). This exploratory study aims to explore how social enterprises in India engage economically marginalized people in transformative social marketing and innovation for sustainable development through PD.

The study includes a case study with a matched pairs analysis approach. The data analysis reports three themes depicting the role of PD in different stages of the social innovation process (codiscovery, codesign and scaling-up), the challenges faced in the process and the outcomes of the PD process.

The authors propose that social enterprises can act as sustainable development catalysts for more inclusive sustainable development through their proactive and creative uses of PD. Still, PD also has limitations for addressing the challenges stemming from marginalized contexts, which requires effective social marketing strategies to overcome.

The study contributes to the emerging dialogue on PD with marginalized users and widens the scope of studies on transformative social marketing and innovation. The findings also provide practical insights for PD practitioners on how designers can learn from diverse PD practices in the context of economically marginalized people.

This study aims to investigate the consumer behavior toward telemedicine services in India during the COVID-19 pandemic onset. With lockdown restrictions and safety concerns in visiting brick-and-mortar clinics or hospitals during the pandemic, Telemedicine had emerged as a potent alternative for seeking redressal to health issues. Based on theory and focus interviews with the telemedicine users, the researchers proposed a model to understand the intent and actual usage of telemedicine in India.

The cross-sectional study undertaken used a questionnaire designed on a seven-point Likert scale and administered to respondents with the objective of identifying the determinants of intent and actual usage of telemedicine services. Simple random sampling was used to collect primary data. The data was cleaned and finally a sample of 405 responses complete in all respects was considered for analysis. The questionnaire comprised of 34 items and following the recommendation of Hair et al. (2016), which says the minimum sample size in structural equation modeling should be ten times the number of indicator variables, a sample size of 405 was deemed adequate.

The research paper finds that performance expectancy, attitude, credibility and self-efficacy positively impact the intention of consumers to use telemedicine services. As the effort expectancy or risk perception toward telemedicine increases the intent and actual usage of telemedicine decreases. The intention to use telemedicine emerged as a strong predictor of the actual usage of telemedicine. Intent to use telemedicine was explained 81.4% by its predictors of performance expectancy, effort expectancy, attitude, risk, credibility and self-efficacy, and actual usage was explained 79.9% by its predictors. This study also reports that telemedicine was found to be popular among chronic as well as episodic patients though the preference was skewed in favor of the episodic patients. One of the advantages of telemedicine is its availability round the clock, and the study found that 8 a. m. to 12 noon time slot as the most preferred slot for seeking telemedicine services.

Chang (2004) opined that telemedicine can fulfill the needs of all stakeholders: citizens, health-care consumers, medical doctors and health-care professionals, policymakers, and so on. Considering the promise telemedicine holds, this realm must be studied and leveraged to the full potential. The study found that patients were using telemedicine even for their day-to-day aliments. This indicates a growing popularity of telemedicine and as such an opportunity for telemedicine companies to leverage it. In India, pharmaceutical companies cannot give commercial advertisements for medicines, and the same can only be sold through a registered medical practitioner’s prescription. As such there is total dependency on the medical practitioner for the sale of medicines. Telemedicine companies offer services of home delivering medicines clubbed with medical consultation thus giving them forward integration in their business models. Using telemedicine the patients had control over the timings of the services offered, and as such the waiting time to get a consultation and subsequent treatment was reduced considerably. Best medical advice from across the globe is available to the patient at less cost. Medical practitioners also stand to benefit as they can treat a variety of cases, collaborate among the medical fraternity and give consultation safely in case of fatal contagious diseases.

This study points to a definite growing popularity of telemedicine services not only in episodic patients but also chronic patients. Telemedicine with its unique advantages holds the promise to grow exponentially in the future and is a compelling health-care segment to focus on for delivering health-care solution to the geographically distant consumers.

The purpose of this study is to examine the impact of fashion influencer measures on consumers' purchase intentions and the mediation of attitudes to understand the phenomenon of influencer marketing in the backdrop of the fashion industry.

The present study employs a conceptual model based on extended theory of planned behaviour (TPB) with added perceived trust. Data were collected from 341 participants from different regions of the country and analysed using direct path analysis and mediation technique.

The study found that attitudes toward fashion influencers are positively influenced by perceived trust, subjective norms and perceived behavioural control. However, perceived behavioural control is not directly related to purchasing intents in the research model. The results confirmed that attitudes have a positive association with purchase intentions both directly and indirectly (partially mediation).

The study advocates market practitioners and advertisers to acknowledge the increasing importance of influencer marketing and the promotion of their fashion offerings in the setting of emerging fashion industry.

The present study adds crucial value to enhance the understanding of fashion influencer marketing in the Indian context. This research offers several insights into the continually growing knowledge domain of influencer marketing by predicting the direct relationships with purchase intents and the mediation of attitudes.