Gaurav Gupta, Jitendra Mahakud and Vishal Kumar Singh
This study examines the impact of economic policy uncertainty (EPU) on the investment-cash flow sensitivity (ICFS) of Indian manufacturing firms.
Abstract
Purpose
This study examines the impact of economic policy uncertainty (EPU) on the investment-cash flow sensitivity (ICFS) of Indian manufacturing firms.
Design/methodology/approach
This study uses the fixed-effect method to investigate the effect of EPU on ICFS from 2004 to 2019.
Findings
This study finds that EPU increases ICFS, which is more (less) during the crisis (before and post-crisis) period. The authors also find that the effect of EPU on ICFS is more for smaller, younger and standalone (SA) firms than the larger, matured and business group affiliated (BGA) firms. This study also reveals that EPU reduces corporate investment (CI). Further, the authors find that cash flow is more significant for the investment of financially constrained firms and the negative effect of EPU is more for these firms.
Research limitations/implications
This study considers the Indian manufacturing sector. Therefore, this study can be extended by analyzing the relationship between EPU and ICFS for the service sector.
Practical implications
First, this study can be useful for corporates, academicians and government bodies to understand the effect of EPU on ICFS and CI. Second, this study will help corporates to focus on internal funds to finance corporates' investment during the crisis period because EPU increases the cost of external finance which may increase ICFS and reduce CI. Third, lending agencies, investors and stakeholders should also focus on the firm's nature, ownership, size and age because these factors play a crucial role to reduce or increase the negative effect of EPU on ICFS. Fourth, the Government should make appropriate policy measures in terms of concessional interest rates to increase the easy availability of external finance for SA, small size, and young firms to reduce the negative effect of EPU on CI because these firms are considered as more financially constrained firms.
Originality/value
This study adds new inputs to the current literature of EPU in several ways. First, this study is one of the main studies focused on the relationship between EPU and ICFS (CI). Especially in emerging countries like India, examining this relationship extends previous research. Second, this study also examines the impact of EPU on ICFS for BGA, SA, small, large, matured and young firms as well as crisis and non-crisis periods. Third, this study uses the sample of the Indian manufacturing sector which has emerged the qualities to become a global manufacturing hub and attracting global investors. Therefore, examining the effect of EPU on ICFS for these firms will be more interesting.
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The relationship between real exchange rate and services export diversification is at the heart of this study.
Abstract
Purpose
The relationship between real exchange rate and services export diversification is at the heart of this study.
Design/methodology/approach
The analysis is performed using a sample of 113 countries over the period 1985–2014, and the 2-step system Generalized Method of Moments (GMM) approach. The analysis uses both the Theil index and Herfindahl–Hirschman index of services export concentration.
Findings
The analysis shows that over the full sample, the real effective exchange rate appreciation induces a greater services export diversification. This outcome applies to high-income countries and developing countries. However, the positive effect of the appreciation of the real exchange rate on services export concentration is lower in least developed countries than in other countries. Finally, the effect of the appreciation of the real exchange rate on services export concentration in tax haven countries depends on the indicator of services export concentration, as this is positive for the Theil index and negative for the Herfindahl–Hirschman index of services export concentration.
Research limitations/implications
These findings highlight the strong influence of real exchange policies on countries' path of services export diversification.
Originality/value
To the best of the authors' knowledge, this topic is being addressed in the empirical literature for the first time.
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Sumit Oberoi, Pooja Kansra and Vedica Awasthi
Neuromarketing is a marketing communication field that applies neuroscience and physiological research tools to study consumer behavior toward stimuli, viz., ads and brands. This…
Abstract
Neuromarketing is a marketing communication field that applies neuroscience and physiological research tools to study consumer behavior toward stimuli, viz., ads and brands. This study aims to assess research trends in the neuromarketing field on the most influential journals, authorships, countries, citations and co-occurrences. The Scopus database is used to analyze identified articles from 2013 to 2022 and for the eligible research articles, a “systematic methodological review” (SMR) on consumer behavior through neuromarketing approach was done. “Visualization of Science (VOS)” viewer and “Biblioshiny” by R-studio software have been used for mapping the keyword analysis, co-citation analysis and author occurrence analysis. It was further found that of the top 10 academic institutions, the list is dominated by the six Asian institutions. It was further witnessed that journal “Physiology and Behavior” is trending as the most dedicated and emerging journals on neuromarketing and consumer behavior. Asian nations such as Bangladesh, China, India, Indonesia, etc., are turning out to be an emerging collaborators and publishers in this niche area of research, thereby giving tough competition to most developed countries. The findings of the thematic mapping show that neuromarketing is itself a very novel and newest area of study and topics such as “human marketing,” “neuromarketing,” “consumer behavior” and “electroencephalography” are new dimensions that can be looked upon in future.
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Gaurav Gupta and Jitendra Mahakud
The purpose of this study is to examine the impact of financial distress (FD) on investment-cash flow sensitivity (ICFS) of Indian firms.
Abstract
Purpose
The purpose of this study is to examine the impact of financial distress (FD) on investment-cash flow sensitivity (ICFS) of Indian firms.
Design/methodology/approach
The study uses the system generalized method of moments (GMM) technique to investigate the effect of FD on ICFS of Indian firms during the period from 2001 to 2019.
Findings
Using FD measures like Ohlson's bankruptcy method, Altman's Z-score model and financial-distress ratio, the researchers find that FD increases ICFS and negatively affects corporate investment. The researchers’ findings explain that FD increases restrictions on external financing, which makes cash flow more important for corporate investment. Additionally, the researchers find that the effects of FD on ICFS are weak (strong) for bigger and group affiliated (smaller and standalone) firms. The study’s findings are robust to several measures of FD, group affiliation and firm size.
Practical implications
First, the researchers find that FD affects the ICFS, therefore, financially distressed firms should have sufficient internal funds or external funds for investment. Second, lending agencies should also consider the firms' FD condition before providing funds to secure their money. Third, investors should be very careful while investing in a financially distressed firm as we find that financially distressed firms face a decline in their investment which might reduce firm profitability.
Originality/value
This study contributes to the existing literature by providing empirical evidence by analyzing the impact of FD on ICFS in the context of India. As per the authors’ knowledge, this is the first-ever attempt to examine the effect of FD on ICFS.
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Debjani Bhattacharya, Umesh Gulla and M.P. Gupta
E‐government implementation evolves through different stages of maturity, enforcing changes in strategies at each level. The transitions of service maturity phases pose continuous…
Abstract
Purpose
E‐government implementation evolves through different stages of maturity, enforcing changes in strategies at each level. The transitions of service maturity phases pose continuous challenges to service providers in assessing the e‐service quality of web‐based services used in government. This study is conducted to propose a multi item scale for assessing the e‐service quality of government portals involving transactions.
Design/methodology/approach
Factors influencing the e‐service quality of government portals were identified from an extensive review of research performed by academic scholars and practitioners. A questionnaire was designed based on a review and interviews with users of e‐government applications and was used to conduct a survey of fully operational portals. Responses were obtained and quantitative analyses were performed on the data to develop a scale. This scale can help in evaluating citizen perceived quality of e‐services.
Findings
Seven constructs – i.e. citizen centricity, transaction transparency, technical adequacy, usability, complete information, privacy and security and usefulness of information – were identified from the analyses, which can be used to assess the demand side service quality of government portals.
Practical implications
Despite a well‐structured, national‐level plan on e‐government and adequate funding in India, most of the projects under the scheme are far below the expectation level of citizens. Technology‐enabled applications have promised easy access to government services with economic gain in certain cases, but they have not ensured citizens' satisfaction. Improved service quality based on citizens' need and expectation can reduce the gap between design and reality and act as positive trigger for adoption of e‐government. This study can help government portal developers get an insight into users' needs to improve the design and implementation of online services. The issues are significant and cannot be overlooked in practice.
Originality/value
The paper is original and a research study. It provides an understanding of citizens' perceived quality of e‐services and adoption behavior within the framework of the web‐based environment of government services.
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Purpose: The chapter’s objective is to develop a new model or approach to earnings management for sustainability. The challenges posed by climate change and environmental…
Abstract
Purpose: The chapter’s objective is to develop a new model or approach to earnings management for sustainability. The challenges posed by climate change and environmental degradation have stimulated interest in sustainability. However, such interest has not led to the development of new models demonstrating how firms’ earnings management can contribute to sustainability and sustainable development.
Methodology: The chapter develops a model demonstrating how earnings management can contribute to sustainability. The surplus income model uses income targeting as a channel through which the surplus income generated by a firm is allocated to a relevant sustainability activity or project. The author shows that a firm’s total income can be divided into the target and surplus income components. The author then explores the possible activities that firms may allocate surplus income to in the interest of sustainability.
Finding: The surplus income model or approach allows a firm to contribute or donate to a relevant sustainability activity or project out of its surplus income. Under this model, managers are incentivised to generate surplus income from which they can contribute to a relevant sustainability activity or project, thereby making the firm a champion of sustainability.
Originality: Previous studies have not examined how earnings management by firms can contribute to sustainability. This chapter fills this gap in the literature.
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Amitabh Ojha, G.P. Sahu and M.P. Gupta
The aim of this study is to investigate the likely antecedents of young Indian professionals' behavioral intention (BI) to use the income tax e‐filing service.
Abstract
Purpose
The aim of this study is to investigate the likely antecedents of young Indian professionals' behavioral intention (BI) to use the income tax e‐filing service.
Design/methodology/approach
Prior to data collection, for which a self‐administered survey was conducted, lecture‐demonstrations were arranged to familiarize the potential respondents with the income tax e‐filing service. The psychometric data were analyzed for reliability and construct validity of the measures, and thereafter a regression analysis was carried out.
Findings
Regression results showed that antecedents of young Indian professionals' BI to use the income tax e‐filing service are: perceived ease‐of‐use, personal innovativeness in information technology, relative advantage (RA), performance of e‐filing service, and compatibility (COMP).
Originality/value
Past studies on income tax e‐filing are beset by problems of adopter bias, and failure to treat trust as a multi‐dimensional. In addition, these studies are skewed towards two theories, namely technology acceptance model, and theory of planned behavior. Although perceived characteristics of innovating has held considerable promise as an alternative framework, it has a chronic problem of confounding between RA and COMP. In investigating the antecedents of young Indian professionals' intention to use the income tax e‐filing, this study also tries to deal with these issues, which are important to the practice of e‐government adoption research.
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Ashish Paul, Bhagyashri Patgiri and Neelav Sarma
Flow induced by rotating disks is of great practical importance in several engineering applications such as rotating heat exchangers, turbine disks, pumps and many more. The…
Abstract
Purpose
Flow induced by rotating disks is of great practical importance in several engineering applications such as rotating heat exchangers, turbine disks, pumps and many more. The present research has been freshly displayed regarding the implementation of an engine oil-based Casson tri-hybrid nanofluid across a rotating disk in mass and heat transferal developments. The purpose of this study is to contemplate the attributes of the flowing tri-hybrid nanofluid by incorporating porosity effects and magnetization and velocity slip effects, viscous dissipation, radiating flux, temperature slip, chemical reaction and activation energy.
Design/methodology/approach
The articulated fluid flow is described by a set of partial differential equations which are converted into one set of higher-order ordinary differential equations (ODEs) by using convenient conversions. The numerical solution of this transformed set of ODEs has been spearheaded by using the effectual bvp4c scheme.
Findings
The acquired results show that the heat transmission rate for the Casson tri-hybrid nanofluid is intensified by, respectively, 9.54% and 11.93% when compared to the Casson hybrid nanofluid and Casson nanofluid. Also, the mass transmission rate for the Casson tri-hybrid nanofluid is augmented by 1.09% and 2.14%, respectively, when compared to the Casson hybrid nanofluid and Casson nanofluid.
Originality/value
The current investigation presents an educative response on how the flow profiles vary with changes in the inevitable flow parameters. As per authors’ knowledge, no such scrutinization has been carried out previously; therefore, our results are novel and unique.
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N. Bindu, C. Prem Sankar and K. Satheesh Kumar
This paper aims to introduce a systematic computing and analytical procedure that is applied to the co-author network to identify the temporal evolution and growth of research…
Abstract
Purpose
This paper aims to introduce a systematic computing and analytical procedure that is applied to the co-author network to identify the temporal evolution and growth of research collaborations in the area of e-governance. The empirical analysis of the temporal co-author network can trace the emerging authors and knowledge bursts over time.
Design/methodology/approach
The study applied social network theory to trace the author collaboration patterns in the domain of e-governance. Analysis of the co-author network using micro and macro parameters was done to trace the temporal evolution of the author collaborations.
Findings
E-governance is a multi-disciplinary research domain split over streams of management, politics, information technology and electronics. Hence, research collaborations play a significant role in its advancement. The knowledge sharing between individual authors, institutions and groups through research collaborations, resulting in extensive sharing of data, equipment and research methods, has boosted research activities and development in e-governance. In this paper, the authors systematically analyse the current scenario of research collaborations in the area of e-governance using co-author network to estimate its impact on the advancement of the field. The authors also analysed the temporal evolution of the co-author networks, which show remarkable growth of research collaborations in the domain of e-governance from the year 2000.
Research limitations/implications
The co-author network analysis is only a proxy measure for the analysis of research collaborations. The names of the authors and the university affiliations used in the article are as retrieved from the research repository of Scopus. The degree, citations and other parameters related with authors have scope only within the environment of the co-author network used in the analysis. The criteria used in the study is limited to the degree of research collaborations and the number of co-authored publications in the giant component of the co-author network.
Practical implications
Institutions, authors and governments can trace and select suitable topics and choose research groups of co-authors over the world for future research collaborations in e-governance. The knowledge about the emerging and most discussed topics gives an overview of the global research trends of e-governance.
Social implications
The study identified the evolution of creative collaborations in e-governance in the global perspective. The methodology introduced here is helpful to detect the proficient and productive author collaborations and the spectrum of related e-governance research topics associated with them. As the author collaborations can be mapped to the institutional and country-level collaborations, the information is helpful for researchers, institutions and governments to establish the best collaborations in e-governance research based on the author proficiency, collaboration patterns and research topics as per the requirements.
Originality/value
The paper introduces a novel research methodology using temporal analysis of co-author network to identify the evolution of research patterns and the associated research topics.
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K.A. Chatha and I. Butt
A literature review within the manufacturing strategy (MS) discipline with a focus on thematic developments is provided. Based on recent studies, a set of challenges posed to…
Abstract
Purpose
A literature review within the manufacturing strategy (MS) discipline with a focus on thematic developments is provided. Based on recent studies, a set of challenges posed to manufacturing enterprise of the future are summarized, and thematic areas are analyzed in relation to meeting those challenges. The paper aims to discuss these issues.
Design/methodology/approach
Based on a select set of 506 articles published in top-ranked refereed international journals in the discipline of operations management, major and subthemes are identified and the publication trends in these themes are provided with time and across geographical regions, namely: North America, Europe, and other parts of the world.
Findings
MS literature is predominantly focussed on the economic objectives of firms without a due focus on the social and environmental perspectives. MS literature covers 11 major thematic areas, namely: MS components and paradigms, manufacturing capabilities (MCs), strategic choices (SCs), best practices (BPs), the strategy process (SP), supply-chain management (SCM), performance measurement, transnational comparisons, global manufacturing, environmental/green manufacturing, and literature reviews. The research in two areas – SCs, and MCs – has been in decline, while the research in BPs, the SP, and transnational comparisons is growing (in absolute figures). Various research opportunities for future studies are identified.
Research limitations/implications
The literature review is limited in its selection of articles and journals, however, the identified trends clarify the state of research by the MS research community at large.
Practical implications
For researchers, multiple new research directions are identified in order to advance knowledge in the field of MS. The publication trends also highlight thematic areas where most of the MS body of knowledge is currently available and can be utilized by practitioners.
Originality/value
The paper’s novelty comes from: first, a broader and deeper review of thematic areas that has not been researched before, second, trends in thematic areas by time, across geographical regions, and including time-region dyads, and third, coverage provided by MS literature in meeting challenges posed to manufacturing enterprise of the future.