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Article
Publication date: 5 September 2021

Ankita Bhatia, Arti Chandani, Rizwana Atiq, Mita Mehta and Rajiv Divekar

The purpose of this study is to gauge the awareness and perception of Indian individual investors about a new fintech innovation known as robo-advisors in the wealth management…

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Abstract

Purpose

The purpose of this study is to gauge the awareness and perception of Indian individual investors about a new fintech innovation known as robo-advisors in the wealth management scenario. Robo-advisors are comprehensive automated online advisory platforms that help investors in managing wealth by recommending portfolio allocations, which are based on certain algorithms.

Design/methodology/approach

This is a phenomenological qualitative study that used five focussed group discussions to gather the stipulated information. Purposive sampling was used and the sample comprised investors who actively invest in the Indian stock market. A semi-structured questionnaire and homogeneous discussions were used for this study. Discussion time for all the groups was 203 min. One of the authors moderated the discussions and translated the audio recordings verbatim. Subsequently, content analysis was carried out by using the NVIVO 12 software (QSR International) to derive different themes.

Findings

Factors such as cost-effectiveness, trust, data security, behavioural biases and sentiments of the investors were observed as crucial points which significantly impacted the perception of the investors. Furthermore, several suggestions on different ways to enhance the awareness levels of investors were brought up by the participants during the discussions. It was observed that some investors perceive robo-advisors as only an alternative for fund/wealth managers/brokers for quantitative analysis. Also, they strongly believe that human intervention is necessary to gauge the emotions of the investors. Hence, at present, robo-advisors for the Indian stock market, act only as a supplementary service rather than a substitute for financial advisors.

Research limitations/implications

Due to the explorative nature of the study and limited participants, the findings of the study cannot be generalised to the overall population. Future research is imperative to study the dynamic nature of artificial intelligence (AI) theories and investigate whether they are able to capture the sentiments of individual investors and human sentiments impacting the market.

Practical implications

This study gives an insight into the awareness, perception and opinion of the investors about robo-advisory services. From a managerial perspective, the findings suggest that additional attention needs to be devoted to the adoption and inculcation of AI and machine learning theories while building algorithms or logic to come up with effective models. Many investors expressed discontent with the current design of risk profiles of the investors. This helps to provide feedback for developers and designers of robo-advisors to include advanced and detailed programming to be able to do risk profiling in a more comprehensive and precise manner.

Social implications

In the future, robo-advisors will change the wealth management scenario. It is well-established that data is the new oil for all businesses in the present times. Technologies such as robo-advisor, need to evolve further in terms of predicting unstructured data, improvising qualitative analysis techniques to include the ability to gauge emotions of investors and markets in real-time. Additionally, the behavioural biases of both the programmers and the investors need to be taken care of simultaneously while designing these automated decision support systems.

Originality/value

This study fulfils an identified gap in the literature regarding the investors’ perception of new fintech innovation, that is, robo-advisors. It also clarifies the confusion about the awareness level of robo-advisors amongst Indian individual investors by examining their attitudes and by suggesting innovations for future research. To the best of the authors’ knowledge, this study is the first to investigate the awareness, perception and attitudes of individual investors towards robo-advisors.

Details

Qualitative Research in Financial Markets, vol. 13 no. 5
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 28 July 2021

Ankita Bhatia, Arti Chandani, Rajiv Divekar, Mita Mehta and Neeraja Vijay

Innovation is the way of life and we see various innovative techniques and methods being introduced in our daily life. This study aims to focus on digital innovation in the wealth…

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Abstract

Purpose

Innovation is the way of life and we see various innovative techniques and methods being introduced in our daily life. This study aims to focus on digital innovation in the wealth management domain. This study examines the effect of usage of robo-advisory services in investment decision-making and behavioural biases, i.e. overconfidence and loss aversion. Such studies are more pronounced in developed countries and little has been studied about investor behaviour in association with advisory services in developing countries such as India.

Design/methodology/approach

Overconfidence and loss-aversion biases, investment decision-making and advisory services questions are measured using a five-point Likert scale. The number of respondents was 172 investors. A purposive sampling is used for gathering responses from investors. Structural equation modeling model was run using AMOS 22 version software package.

Findings

The authors found that behavioural biases positively and significantly influence the irrationalities of investment decision-making. The findings of this study also provide empirical evidence that the usage of robo-advisory services, by individual investors, is still incapable of mitigating behavioural biases, such as overconfidence bias and loss-aversion bias.

Research limitations/implications

The sample size of this study could be a limiting factor. This study is limited only to two biases, while other behavioural biases affect the investment decision-making of the investors, which can be considered for future research along with the impact of robo-advisory services in different socio-cultural backgrounds.

Practical implications

This study will assist fintech start-ups, banks, architecture of robo advisors, product owners and wealth management service providers improvise their products, platforms and offerings of these automated advisory services. This could help individual investors to mitigate their behavioural biases in investment decision-making.

Social implications

This study is useful to society as the awareness of robo-advisory services is very less, at present, and there is a need to increase the usage of these services to extend the benefit of this to the lower stratum of society. These services would be useful to all investors who find it difficult to afford financial advisors and help them mitigate their behavioural biases for investment decision-making.

Originality/value

This study is the first of its type that establishes the linkage between behavioural biases, digital innovation in fintech, i.e. robo-advisory services and individual investor’s investment decision-making in individual investor of the Indian stock market.

Details

International Journal of Innovation Science, vol. 14 no. 3/4
Type: Research Article
ISSN: 1757-2223

Keywords

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Article
Publication date: 28 June 2024

Arti Chandani, Smita Wagholikar, Mohit Pathak, Prashant Ubarhande and Ankita Bhatia

The pandemic brought by COVID-19 in March 2020 shook the entire world, compelling everyone to remain indoors. Most B-Schools were unprepared for such a situation and did not have…

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Abstract

Purpose

The pandemic brought by COVID-19 in March 2020 shook the entire world, compelling everyone to remain indoors. Most B-Schools were unprepared for such a situation and did not have the resources to carry out the teaching and learning activities. B-schools then adopted online and hybrid modes of learning to impart education to their students. The purpose of this study is to identify factors affecting the quality of education along with lessons learnt and lessons to be left behind, using qualitative method.

Design/methodology/approach

The factors affecting the quality of education were drawn from the literature, and 18 faculty members were interviewed. The study uses a descriptive method, where interviews were conducted, and each interview was recorded, with an explicit permission of respective faculty member and coded and categorized to identify themes.

Findings

The significant contribution of this study is that it highlights? Through the learnings and experiences of the pandemic? What will work in the future for business schools. The use of online teaching-learning sessions and softwares, namely, Turnitin and Grammarly will not fade away. Faculty will use various engagement tools such as quizzes and simulations to improve the learning and quality of education in the post-pandemic era. Various interactive and online tools emerged during the pandemic which allowed faculty to use diagrams and infographics in their teaching, and this helped the faculty to cater to students with different learning styles.

Originality/value

This study will provide B-Schools, faculties and leaders an input for improving the quality of online education. The present study provides an empirical contribution to the factors affecting online education and its quality, by highlighting the perspective of faculty members with the help of qualitative study. These factors make a clear and strong indication that education in the future will be partly online, wherein a lot of e-learning resources will be used by faculty to impart quality education.

Details

Journal of International Education in Business, vol. 17 no. 3
Type: Research Article
ISSN: 2046-469X

Keywords

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Article
Publication date: 12 March 2024

Ankita Bedi and Balwinder Singh

This study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy.

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Abstract

Purpose

This study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy.

Design/methodology/approach

The study is based on S&P BSE 500 Indian firms for the period of 6 years from 2016–2017 to 2021–2022. The panel data regression models are used to gauge the association between corporate governance and carbon emission disclosure.

Findings

The empirical findings of the study support the positive and significant association between board activity intensity, environment committee and carbon emission disclosure. This evinced that the board activity intensity and presence of the environment committee have a critical role in carbon emission disclosure. On the contrary, findings reveal a significant and negative relationship between board size and carbon emission disclosure.

Practical implications

The present study provides treasured insights to regulators, policymakers, investors and corporate managers, as the study corroborates that various corporate governance characteristics exert significant influence on carbon emission disclosure.

Originality/value

The current research work provides novel insights into corporate governance and climate change literature that good corporate governance significantly boosts the carbon emission disclosure of firms. Previous studies examining the impact of corporate governance on carbon emission disclosure ignored emerging economies. Thus, the current work explores the role of governance mechanisms on carbon emission disclosure in an emerging context. Further, to the best of the author’s knowledge, the current study is the first of its kind to investigate the role of corporate governance on carbon emission disclosure in the Indian context.

Details

International Journal of Law and Management, vol. 66 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

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Book part
Publication date: 22 August 2022

Ankita Ghosh and Swathi Ravichandran

This chapter aims to assess the scope of India's gastronomic tourism post-COVID-19 and discuss the utilisation of vlogs to promote India as a gastronomic destination. First, the…

Abstract

This chapter aims to assess the scope of India's gastronomic tourism post-COVID-19 and discuss the utilisation of vlogs to promote India as a gastronomic destination. First, the evolution of gastronomic tourism is reviewed. Next, opportunities and challenges associated with India's gastronomic offerings, both from international and domestic tourism perspectives, are discussed. Then, the role of vlogging to position and promote India as a gastronomic destination is established. The chapter suggests recommendations for the Ministry of Tourism, Government of India on utilising vlogging to promote gastronomic tourism.

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