The purpose of this paper is to look at the contemporaneous movement of the stock market indices of the five most COVID-infected countries, namely, the USA, Brazil, Russia, India…
Abstract
Purpose
The purpose of this paper is to look at the contemporaneous movement of the stock market indices of the five most COVID-infected countries, namely, the USA, Brazil, Russia, India and UK after the first wave along with market indices of the three least affected countries, namely, Hong Kong, South Korea and New Zealand during the first wave.
Design/methodology/approach
Data have been collected from the website of Yahoo finance on daily closing values of five indices. Augmented Dickey–Fuller test with its three forms has been applied to check the stationarity of the select five indices at the level and at the first difference before the pandemic, during the pandemic and post-first wave of the pandemic. Johansen cointegration test is applied to find out that there is no cointegration among the select five indices.
Findings
The five countries do neither fall in the same economic and political zone nor do they have the same economic status. But during the period of pandemic and the new-normal period, the cointegration is very distinct. The developing and developed nations thus stood at an indifferentiable stage of the economic crisis which is well reflected in their stock markets. However, the least three COVID-affected countries do not show any cointegration during the pandemic time.
Originality/value
The comovement even seen during the normal time in the other studies is not compared to a similar period in earlier years. But, in this study to look into the exclusive effect of COVID pandemic, the period most affected with it is compared with the period after it and that in the immediate past year had no effect.
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Ritu Pareek, Tarak Nath Sahu and Arindam Gupta
This study aims to attempt to evaluate and establish the relationship between gender diversity (GD) on the board and corporate sustainability performance.
Abstract
Purpose
This study aims to attempt to evaluate and establish the relationship between gender diversity (GD) on the board and corporate sustainability performance.
Design/methodology/approach
A sample of 212 non-financial companies listed on the National Stock Exchange has been considered for a period of 2013–2014 to 2018–2019. For the purpose of the analysis, this study has conducted the static panel data model analysis and also some diagnostics tests to arrive at robust results.
Findings
This study, from its analysis, interprets that GD or the proportion of women directors in the company plays a significant role in the decisions related to the sustainability performance of the company. Alongside GD, the profitability of the company, measured in terms of Tobin’s Q, and firm size are also seen to have a positive impact on the sustainability performance of the company.
Practical implications
This study from its findings contributes to the existing works of literature by highlighting the impact of GD on the sustainability performance of the firm. This study thus recommends the recruitment of an ample number of females in the top-notch positions of the board to create a gender-diverse management team to reap the benefits of leadership styles of both genders.
Originality/value
Very few studies have been conducted on the dynamics of women’s directorship, especially in an emerging economy like India. This study thus tries to fill this important gap in the literature by examining the relationship between board GD and sustainability performance of Indian firms.
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Arindam Chakrabarty and Anil Kumar Singh
India has been withstanding increasing pressure of enrolment in the higher education system, resulting in the creation of new universities in consonance with the recommendations…
Abstract
Purpose
India has been withstanding increasing pressure of enrolment in the higher education system, resulting in the creation of new universities in consonance with the recommendations of the Knowledge Commission (2007). Barring a few institutions of paramount excellence, the mushrooming universities fail to conform to equitability of quality and standards, that is teaching-learning-dissemination and research, except for accommodating higher gross enrolment ratio. It has resulted in an asymmetric and sporadic development of human resources, leaving a large basket of learners out of the pursuit for aspiring higher academic, research and professional enrichment. The country needs to develop an innovative common minimum curriculum and evaluation framework, keeping in view the trinity of diversity, equity and inclusion (DEI) across the Indian higher education system to deliver human resources with equitable knowledge, skill and intellectual acumen.
Design/methodology/approach
The paper has been developed using secondary information.
Findings
The manuscript has developed an innovative teaching-learning framework that would ensure every Indian HEI to follow a common minimum curriculum and partial common national evaluation system so that the learners across the country would enjoy the essence of equivalence.
Originality/value
This research has designed a comprehensive model to integrate the spirit of the “DEI” value proposition in developing curriculum and gearing common evaluation. This would enable the country to reinforce the spirit of social equity and the capacity to utilise resources with equitability and perpetuity.