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The purpose of this study is to investigate the financial well-being and social capital of Indian retirees. The paper investigates the extent of subjective financial well-being, the dependence on debts and the extent of bridging and bonding social capital of retirees with similar retirement pensions to understand the main issues they face.

Semi-structured interviews were conducted with 32 retired government schoolteachers. Two individuals transcribed the interviews after a pilot study, which helped remove repetitive responses. After ensuring the authenticity of the transcripts, the data was analyzed using interpretive phenomenological analysis.

The study's key findings reveal that retirees, armed with a clear understanding of their retirement income, exhibit a sense of financial control. At the same time, the presence of debt and the potential for high healthcare expenses adversely impact their subjective financial well-being. In terms of social capital, retirees predominantly rely on support from close-knit communities of friends and neighbors, as against their children. Additionally, retirees who migrate from their native places encounter challenges in establishing bridging social capital.

This study contributes to the ongoing discourse on financial well-being, specifically within the context of vulnerable groups such as retirees in India, where the absence of a state-supported retirement system adds a distinctive dimension. Against the backdrop of India's traditional societal framework, the research extends the existing literature by delving into the nuanced effects of evolving social dynamics on the social capital of retirees.

The circular economy is a production and consumption model that encourages people to share, lease, reuse, repair, refurbish and recycle existing materials and products for as long as possible. The blockchain-based circular economy is being used in many industries worldwide, but Indian electronic MSMEs face many problems in adopting a blockchain-based circular economy. The research aims to discover the barriers the electronic MSMEs face in adopting a blockchain-based circular economy and pull back from achieving environmental sustainability in their operations.

Fifteen barriers are identified from the literature review and finalized with experts' opinions. These barriers are evaluated by using interpretive structural modeling (ISM), MICMAC analysis and fuzzy TOPSIS method.

Lack of support from distribution channels, lack of traceability mechanism and customer attitudes toward purchasing remanufactured goods are identified as the most critical barriers.

The study will benchmark the electronic MSMEs in achieving environmental sustainability in the blockchain-based circular economy.

It is a study that not only establishes a hierarchical relationship among the barriers of blockchain adoption in Indian electronic MSMEs but also verifies the results with fuzzy TOPSIS method.

The purpose of this paper is to examine the effect of human resource development (HRD) practices on perceived operational and market performances in the software companies in India, and also the mediating effect of operational performance in the relationship between HRD practices and market performance.

Data were collected from 516 professionals working in 37 software companies in India. Partial least square (PLS) was used to test the proposed structural equation model.

The findings reveal that the HRD practices significantly affect market performance. However, operational performance, as a mediator, was found to have a crucial role in transferring the effects of HRD practices to market performance.

The findings of this study are in line with the theory of HRD which suggests a positive relationship between HRD and organizational performance.

The results suggest that to enhance the market performance, organizations need to enhance operational performance by meticulously designing and implementing the series of HRD practices.

This study is one of its kind to overcome the limitations of earlier studies to examine the effect of comprehensive dimensions of HRD on operational and market performance.

Bank–fintech associations are significant globally, establishing purposeful eco-systems towards extending and complementing capabilities, reach and customer experiences. This paper aims to explore 39 leading fintechs in India catering across payments, lending, wealth management, regulation, neo-banks and other banking functions. Alongside fintechs, the research studies 19 leading banks (public and private) to understand the nature of bank–fintech associations in the Indian context.

The research focuses on narratives from leading banks and top fintechs in India, captured from public disclosures and leadership interviews. The study leverages qualitative research techniques, including grounded theory approaches of inductive analysis, to codify interview and narrative observations to discover relevant objectives, scenarios, challenges and outcomes in India-centric bank–fintech associations.

Bank–fintech associations in India are increasingly focusing on financial services portfolio diversification and improvement in customer experience. Simultaneously, both banks and fintechs, differentiate with innovations and extend offerings to target underserved customer segments. The associations are beneficial for both banks and fintechs in transforming offerings and improving efficiency, scale across channels. Through codification of observations, review of existing literature and evaluation of best practices, alongside subject matter expertise, the study evolves a generalized “Association Model”. The model can steer meaningful bank–fintech associations in India and globally. The association model relates to observables like objectives, enablers of bank–fintech associations, challenges and association-driven value outcomes. Built from study of practices, the proposed model is relevant for strategic orientation in bank–fintech associations.

The findings reveal practices in bank–fintech associations in India with significant learning opportunity for organizational leaders globally. Understanding the nature of association is relevant for strategic interventions, particularly in scenarios of inter-organization collaborations. Central banks, policymakers, governments, investors, banks and fintechs can use the derived association model to establish, govern and steer purposeful value-driven associations.

This paper seeks to understand effects of ASP utilization on organization performance measured in terms of satisfaction and educational effectiveness on the part of the customer firm.

This study follows the positivist approach. After a research framework was developed and hypotheses defined, based on a thorough ASP literature review, data were collected from small firms which use ASP services. Results were discussed to suggest strategic directions of ASPs.

The results show that when customer firms perceive good service at a reasonable fee, they exhibit a high level of satisfaction with the service provider. Customer satisfaction is found to be significantly related to organizational performance. Also, the education content of training programs significantly influences educational effectiveness, which in turn contributes to organizational performance by impacting customer service.

The results of the study would help practitioners and researchers better understand ASP customers. The scope of this study is limited to leading IT adoption countries.

Based on the customer perspective, this paper delineates factors of ASP services that support small firms to be more successful.

The study aims to investigate how the presence and absence of institutional equivalents (interaction of industry peers and local peers) affect the earnings management practices of firms.

The study uses discretionary accruals to operationalize earnings management. A sample of 18,744 Bombay Stock Exchange (BSE) listed firm years spanning over 12 financial years (March 2010–March 2021) has been considered and analyzed through panel data regression models.

The author’s results show that the earnings management practices of a firm's institutional equivalents and the firm's own earnings management are positively associated, implying that firms closely follow their institutional equivalents. This association is found to be more pronounced among focal firms when the difference between the earnings management levels of industry peers and local peers is greater. Further, the author find that large firms aggressively imitate their industry peers and local peers, whereas profitability does not influence their imitation behavior.

The author’s findings have implications for understanding peer imitation processes, particularly when firms face increasingly multifaceted institutional environments. It suggests auditors and analysts take into account the earnings management practices of local and industry peers while analyzing the client's financial statements and making forecasts, respectively.

The study is among the pioneering attempts to explore the domain of earnings management from the lens of institutional equivalence and provides compelling evidence that the interaction of industry peers and local peers impacts the earnings management practices of firms.

The purpose of this paper is to consider one of the recent and practical extensions of the resource-constrained project scheduling problem (RCPSP) termed as the multi-skill resource-constrained project scheduling problem (MSRCPSP) for investigation. The objective is the minimization of the makespan or total project duration.

To solve this complex problem, the authors propose a teaching–learning-based optimization (TLBO) algorithm in which self-study and examination have been used as additional features to enhance its exploration and exploitation capabilities. An activity list-based encoding scheme has been modified to include the resource assignment information because of the multi-skill nature of the algorithm. In addition, a genetic algorithm (GA) is also developed in this work for the purpose of comparisons. The computational experiments are performed on 216 test instances with varying complexity and characteristics generated for the purpose.

The results obtained after computations show that the TLBO has performed significantly better than GA in terms of average percentage deviation from the critical path-based lower bound for different combinations of three parameters, namely, skill factor, network complexity and modified resource strength.

The modified TLBO proposed in this paper can be conveniently applied to any product or service organization wherein human resources are involved in executing project activities.

The developed model can suitably handle resource allocation problems faced in real-life large-sized projects usually administered in software development companies, consultancy firms, R&D-based organizations, maintenance firms, big construction houses, etc. wherein human resources are involved.

The current work aims to propose an effective metaheuristic for a more realistic version of MSRCPSP, in which resource requirements of activities may be more than one. Moreover, to enhance the exploration and exploitation capabilities of the original TLBO, the authors use two additional concepts, namely, self-study and examination in the search process.

This study aims to examine the role of price discounts and how to communite such discounts for masstige brands. While a price discount might encourage potential (first time) customers seeking higher status to buy a masstige brand, it might deter existing (repeat) customers from purchasing the brand due to a decline in perceived status. Such paradoxical effect of price discounts on masstige brand’s purchase requires a detail investigation into whether masstige brands should offer price discounts and if so, how to communicate such discounts. Current research investigates this phenomenon.

Four experimental studies were executed. Study 1 investigated the impact of monetary discount (absent vs. present) on the purchase intention of masstige brands for different customer types (potential vs. existing). Study 2 investigated the mediating role of perceived status. Study 3 examined the effectiveness of metaphoric communication of monetary discounts (absent vs present) on masstige brand’s purchase. Study 4 tested the moderating effect of customers’ need for cognition.

Overall, monetary discounts positively affect purchase intention of masstige brand; however, the effect is negative for existing customers and positive for potential customers owing to differences in perceived status these customer groups experience (positive for potential and negative for existing customers). Metaphoric communications of monetary discounts restrict the declining purchase intention and status perception of existing customers besides keeping the potential customers’ purchase intention intact.

This research is confined to a particular country limiting the gneralisability of the study’s findings. Furthermore, this research is cross-sectional in nature.

The findings of this research provide valuable insights and actionable recommendations for masstige brands to effectively leverage price discounts, especially in the emerging markets.

To date, a question of whether or not masstige brands should offer price discounts and if so, how to communicate such discounts remain opaque. This is the pioneering study exploring this phenomenon.

This case study is designed to enable students to formulate the strategic planning process in relation to an organization’s resources; assess the critical tasks required for the company’s business planning for growth and market expansion; and examine the importance of the value delivery process for the company, its customer and its employees. At the end of the case discussion, students will learn how to plan their business in an emerging market by using their existing resources, where the business stands at present and where it may go in the coming future.

The case study discusses how Byju’s, an Indian multinational educational technology company, revolutionized student learning programs through its innovative strategic implementation. It explores the company’s growth and expansion strategy by considering a strength, weakness, opportunity and threats analysis. It elaborates on how Byju’s acquired various companies in India and other countries to become an international technology-based educational brand with 150 million users in 2022. The case study also highlights the marketing and promotional strategy used by the company on online and offline platforms. The case study elaborates on the value delivery process and its importance for customer and employee satisfaction. Despite its success in the Indian market, Byju’s faced tough challenges in the US and European markets, such as lower-than-expected growth rates and lower subscription numbers, even though it followed the same strategy as in the Indian market. The acquisition and celebrity strategy works in emerging economies such as India but not in developed countries. The company’s return on investment was down owing to the high costs it had incurred over the years on market acquisitions and marketing promotions. The growing competition was also expected to bring more challenges for Byju’s. New players such as Tata Studi and YouTube planned to enter the market. Byju Raveendran and his management group had to decide whether to maintain or change the current market offering to reflect market developments to satisfy their customers and employees. They also had to determine whether the main components of the marketing strategy, such as the company’s ongoing value delivery process and ongoing strategy toward the target audience, partners and rivals, are advantageous to the firm or not. The team was in dilemma whether the marketing planning process was going in the right direction and how to make all elements of its businesses more efficient in dealing with the issues. Raveendran kept asking questions about to what extent it is still possible to alter the marketing plan.

The case study is appropriate for discussion in courses such as marketing management, service marketing and strategic marketing management, whether they are part of an undergraduate program (Bachelor of Business Administration [BBA]), a postgraduate program in business management (Master of Business Administration [MBA]) or an executive-level program (executive MBA). The breadth of business topics addressed and the intricacy of the scenario make this case study best suited to be used after the semester as either a culminating project or as a seminar discussion for undergraduates (BBA). The case study can also be discussed in the marketing management course (graduation level) under the marketing and service strategy chapters.

CSS8: Marketing

Teaching notes are available for educators only.

The study delves into the impact of integrating reporting (IR) on three earnings management tools, namely classification shifting (CS), real-based earnings management (REM) and accrual-based earnings management (AEM) under the Indian institutional settings.

The data analysis involved the application of panel data regression models. Our dataset comprises 2,244 firm-years listed on the Bombay Stock Exchange spanning over financial years from March 2015 to 2021. To address endogeneity and self-selection bias concerns, a propensity score matching technique has been employed.

Our empirical results exhibit that IR-adopting firms are engaged in earnings management. Further, we find that IR-adopting firms have reduced their engagement in AEM and REM, however, their CS practices have been increased, indicating the substitution relationship between earnings management tools after the adoption of IR. It implies that firms shift their preference from more to less observable earnings management tools after the adoption of the IR, which aligns with the idea that firms adopt IR to gain legitimacy, however, their intention to deceive stakeholders through earnings management remains unchanged. The inclination of firms toward CS can be ascribed to its cost-effectiveness, as it leaves net profit unchanged, hence less likelihood of being detected by auditors. Overall, our results align with the principle of legitimacy theory.

The study focuses exclusively on three primary forms of accounting manipulation and assesses IR holistically, rather than investigating the influence of each capital individually within IR.

With a shift towards less detectable methods like CS, auditors must adapt their scrutiny and be mindful of their clients' IR adoption. Investors should scrutinize IR-adopting firms' financial disclosures, especially line items, as CS does not impact the net profits.

It is the pioneering research to thoroughly explore the impact of IR on different earnings management tools and strengthen the conceptual frameworks of legitimacy theory by documenting that firms adopt IR to gain legitimacy, however their intention to engage in earnings management remains intact.