Pooja Singh and Anindita Chakraborty
This paper aims to examine the relationship between financial distress risk and stock returns in the Indian context.
Abstract
Purpose
This paper aims to examine the relationship between financial distress risk and stock returns in the Indian context.
Design/methodology/approach
This is an empirical study wherein the Altman-Z score is used to identify the distressed and the non-distressed firms listed on Nifty 500. The author uses the Fama–French five-factor model to study the relationship between stock returns and distress risk. The study analyses the differences in the factor loadings among the portfolios sorted by distress. It evaluates if incorporating distress risk factors in conventional pricing models enhances the goodness of fit.
Findings
The study reported a positive relationship between the distress risk factor and stock returns in the distressed portfolios, signifying that distress risk is a systematic risk only for distressed portfolios. Furthermore, after including the financial distress risk premium, the observed fluctuations in the small-minus-big (SMB), high-minus-low (HML), RMW and CMA coefficients indicate a common association with distress risk-related information.
Originality/value
This study tests the Fama–French five factors for distress risk and examines its nature in asset pricing for emerging markets like India. The study examined the performance of the augmented Fama–French five-factor model across different sets of portfolios sorted based on distress.
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Pooja Singh Negi and Ramesh Chandra Dangwal
Various scams and swindles in banks demand effective supervision and competent workforce, as it involves with workplace accountability and undertaking customer support services…
Abstract
Purpose
Various scams and swindles in banks demand effective supervision and competent workforce, as it involves with workplace accountability and undertaking customer support services. The purpose of this paper is to examine the managerial effectiveness of selected public, private and foreign banks in India.
Design/methodology/approach
In total, 467 questionnaires from (middle and top-level) managers of (five public, five private and five foreign banks) fifteen banks have been considered. The descriptive statistics, t-test and ANOVA are used to differentiate each sector of banks.
Findings
The significant difference denoted in terms of managerial effectiveness among banks. The results revealed that managers of public banks are action-oriented and receptive to feedback, whereas the manager of private sector banks embodies self-disclosure and perceptiveness. The correlates, namely, action-orientation, self-disclosure and receptivity to feedback evident significant among foreign banks.
Practical implications
The consideration and application of such correlates would surely help managers, decision-makers and practitioners to enhance their effectiveness. Human resource professionals can use these results to develop programmes and policies for better management.
Originality/value
The study is imperative as it compares the behaviour of managers of public, private and foreign banks individually. The findings demonstrate that correlates of managerial effectiveness significantly differ among the banks.
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Pooja Singh Negi and Ramesh Chandra Dangwal
The purpose of the present study is to identify the core cultural aspects perceived by the executives of public, private and foreign banks in India.
Abstract
Purpose
The purpose of the present study is to identify the core cultural aspects perceived by the executives of public, private and foreign banks in India.
Design/methodology/approach
Of the 124 responses, 96 usable responses were assessed from middle and lower level managers. Qualitative content analysis and deconstruction method were used to identify the perceived cultural aspects.
Findings
Interestingly, managers of Indian banking industry stated that cultural aspects of their banks possess good work and working environment, prefer people, management, experience and promotions in comparison to other factors like policy, bonus, market, commitment, project, etc. It is also noted that cultural aspects of banks prefer learning, training and team working.
Practical implications
Assessment of the perception of managers toward their culture will foster the banks to develop integral subculture and to achieve the long-term organizational goals.
Originality/value
The study analyze the cultural aspects in Indian banking industry qualitatively, based on executives characteristics. This qualitative analysis helps to find out more contemporary and prevailing factors of banks.
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Pooja Kansra, Nripendra Singh, Rajesh Verma, S.L. Gupta and Vikram Bali
Himanshu Singla, Amandeep Singh and Pooja Mehta
Based on the job demands–resources (JD-R) model, this study aims to answer a key research question, i.e. can the job characteristics (i.e. job demands and resources) affect…
Abstract
Purpose
Based on the job demands–resources (JD-R) model, this study aims to answer a key research question, i.e. can the job characteristics (i.e. job demands and resources) affect intention to retire early? Additionally, a mediating effect of emotional exhaustion and organizational commitment on the relationships of job demands and job resources, respectively, with early retirement intentions has been explored in the study.
Design/methodology/approach
The data has been collected from survey of 450 employees from the banking sector in the state of Punjab (India). A structured questionnaire adapted from past literature has been used as survey instrument for the study. Partial least squares structural equation modelling has been applied in the study using latest version of SmartPLS (version 3.2.8) software.
Findings
Both job resources and job demands have a direct significant impact on early retirement intentions. Moreover, a significant partial mediation effect of emotional exhaustion and affective organizational commitment has also been found out on the relationship of job demands and job resources with early retirement intentions, respectively.
Originality/value
The study makes incremental contribution by highlighting the role of both deterrent and motivational factors that either instigate or discourage early retirement intentions among employees. It offers valuable insights for the organizations to use efforts for curtailing the excessive job demands that lead to emotional exhaustion and further result in early retirement intentions. Besides this, adequate job resources should be provided to the employees that lead to the development of affective organizational commitment, which further helps in sustaining the workforce until their actual retirement age.