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This study aims to examine the influence of geopolitical risk (GPR) on corporate cash holdings in an emerging market, India. It also investigates whether the effect of GPR on cash holdings varies across financially constrained and unconstrained firms, and across the different sectors.

This study uses the fixed-effect regression model to examine the effect of GPR on the corporate cash holdings of 2090 Indian firms from 2003 to 2021. To correct the potential endogeneity issue and ensure the robustness of the results, this study uses two-stage least squares regression, alternative cash holdings proxies, GPR measures and across the different periods (Global financial crisis and COVID-19).

The paper finds that GPR has a positive impact on the cash holdings of Indian firms. The authors also find that the positive relationship between GPR and cash holdings is consistent for financially constrained and unconstrained firms. Furthermore, the results also show that firms in the construction sector maintain higher cash reserves than other sectors.

To the best of the authors’ knowledge, this study is one of the first-ever studies which examines the effect of GPR on corporate cash holding for an emerging economy like India. The use of alternative measures of cash holding, GPR, and estimation methods make this study more robust.

This study aims to examine the role of mindful consumption in promoting rural sustainability, particularly in the context of tourism in Muang Kaen Community, Chiang Mai, Thailand, by establishing a robust circular economy.

The data were collected through in-depth interviews with 28 informants who are tourism stakeholders regarding sustainable development, i.e. government officers, business owners, community leaders and community members in Muang Kaen, to achieve the data triangulation. A thematic analysis of the interview data was employed in this data set.

The findings demonstrate three key themes for driving sustainable community development: a sense of community, leadership and embodiment. At an individual level, local community members co-create a sense of community through Thainess, which gradually forms the social commitment to caring for neighbors, the community, and the environment. Carefulness also relates to another theme, “leadership” – social capital, which drives mindful behavior among the community members. Both situational and official leaders are key persons in forming a culture of sustainability within the community. Finally, the community can achieve sustainable goals by driving from the individual to the collective level through the embodiment.

This single-case study warrants further examination across different communities to generalize the findings to broader circumstances.

This study has shed light on how rural tourism can drive sustainable development through a circular economy and mindful consumption.