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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.

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.

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.

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 job content plateau (JCP) is a condition in which employees regard their jobs as routine, and it has been linked to employee turnover intentions and organisational dysfunctional consequences. As a result, the purpose of this study is to see how negative effects of JCP can be avoided.

A conceptual framework has been created and empirically tested that takes into account intervening elements such as job crafting (JCF) and proactive personality (PP) between JCP and career commitment (CC). In this study, survey data from professionals in a variety of businesses were gathered based on position level, total years of experience and educational level. To assess the efficacy of the suggested model and test the hypothesis proposition, confirmatory factor analysis and multiple regressions were used.

The study’s findings demonstrated that JCF plays a mediating function between JCP and CC, allowing proactive executives to lead their CC while minimizing JCP’s negative effects.

This study will have interesting implications and recommendations for practitioners and strategy makers when it comes to assessing the impact of JCP on enhancing career commitment among Indian executives.

The globe faces a difficult job in maintaining a sustainable ecosystem. Sustainable development goal (SDG-2030) is an important agenda for United National Organization. By 2030, the United Nations aims to have eliminated hunger, poverty, social protection, environmental protection, social security and inequality as described in different goals of SDG-2030. This cannot be accomplished without diligent work from each member. This study focuses on the strategy to removal of poverty with go green concept. The study is based on secondary data which was collected from different websites and previous research papers. This is analyst-based research. The go green notion is stressed in this chapter as aim to achieved SDG-1. The go green idea and its supporting industries were stressed in this chapter as a means of achieving SDG-1. This chapter discussed the many forms of poverty and an examination of their causes, as listed in SDG-1. Environment degradation is crucial for the SDGs. This chapter links SDG-1, 2, 6 and 7, which are concerned with hunger, clean water and sustainability of energy sources. This study explores achieving SDG while protecting the environment. This chapter explains how green growth policies, technology, good healthcare equipment, a strong education sector and effective communication technologies can all work together to achieve SDG-1 in a sustainable manner. This study focused on the resources needed to eradicate poverty in various regions. It is a crucial component of sustainable endeavours that help preserve a healthy environment for coming generations. Human development was dependent on a healthy environment. This study emphasised green growth, eco-friendly transportation and clean energy concept while achieving SDG-1. The study analyses different parameters to remove poverty with go green concept.

After completion of the case study, the students will be able to[1] review the industry analysis using Porter’s five forces and strength, weakness, opportunities, threats framework and understand how a firm can achieve a competitive advantage, analyze the stakeholder theory and the salience of stakeholder mapping for enterprises with large number of stakeholders, apply the Mendelow framework of stakeholder mapping in this context and integrate it with stakeholder engagement for small enterprises and examine and evaluate how new age enterprises can engage better with stakeholders to provide a higher value creation.

Ayushi Srivastava started her enterprise, Beeyond Foods, in early 2021 with the aim to provide unadulterated, raw honey to consumers. She also wanted to help the beekeeping community by providing the beekeepers with a fair price for the procurement of honey from the bee hives. Beeyond Foods was a small enterprise in India that sold two variants of honey to consumers. The first variant was sourced from the Himalayan region of India, whereas the second was sourced from the Western Ghats of India. The primary distribution channel was trade fairs, where Srivastava would assemble her stall and sell honey to potential customers. Furthermore, a part of the sales was also driven by an electronic channel, which was through the company website. Customers could place their orders, and the honey would directly be delivered to their homes. With a successful start to the business, Srivastava was interested to scale her business and reach more customers. However, she was mindful that there were multiple stakeholders involved in the business. Srivastava had to study the values and needs of each stakeholder, while simultaneously formulate a strategy to expand her reach. This case study is designed to teach the concept of stakeholder value creation for small business enterprises.

This case study is well suited for an entrepreneurship and strategy course at the postgraduate (Master of Business Administration) level. This case study can also be taught in a marketing course.

Teaching notes are available for educators only.

CSS3: Entrepreneurship.

Migrants have been posed with less familiarity in their new environment during COVID times, faced with various social, psychological and emotional traumas. Research indicates that they may have been originating from apprehension of being abandoned by their neighbours. Most of them were precarious with little wages, competing for their basic need fulfilment, putting them under more mental stress. Looking forward to the ancient principle, ‘Athithi Devo Bhavah’ (Visitors are Gods), and immediate response, measures were taken to promote community shelters and kitchens, maintaining social distancing and ensuring physical safety. The governments of different countries took proactive initiatives to study and assess their needs. The study here includes the cases being evaluated regarding migrants' need for surveillance and psycho-social support given by the government and non-profit associations during the pandemic at the global level. Remarkably, certain countries proved the working of their sustainable poverty reduction model by evaluating various factors. The study started by introducing who migrants were, diagnosing their problems faced during the pandemic, how Sustainable Development Goals can be implemented and various measures taken at government and institutional levels to protect the migrant workforce.