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The purpose of this study is to examine the effect of carbon emission on accounting and market-based financial performance of Indian companies.

Firms reporting emission data on Carbon Disclosure Project (CDP) are considered for empirical analysis and the data have been collected for the period from 2013 to 2019. The study adopts Heckman's regression model to control for self-selection bias and it also examines the moderating role of environmental sensitivity through industry-wise analysis. The results are also checked for potential endogeneity using generalized methods of moments estimation.

Primarily, the findings postulate a significant negative impact of carbon emissions on both measures of financial performance. Further, it also determines that environmentally sensitive firms are more exposed to such negative influence of emission compared to nonsensitive companies.

Current research will enhance the understanding of managers about the economic impact of carbon emission, especially in an economy where emissions are not completely regulated. The study provides an economic rationale to the industries to reduce emission volume. It will also assist regulators to draft environmental policies by considering environmental sensitivity. It should be noted that the study is based on the Indian firms that have reported emission data on the CDP during the study period.

The present study addresses one of the most important but less explored issues of environmental research in one of the largest emerging economies of the South Asian region. The study presents a comprehensive view by covering accounting as well as market-based indicators along with the moderating effect of environmental sensitivity.

According to the crusade of the United Nations sustainable development goals (SDGs-6, 7,8,12 and 13) that addressed pertinent issues around, clean access to water, access to energy, responsible consumption and climate change mitigation alongside, respectively, Paris Kyoto Protocol agreement of mitigation of climate changes issues of vision 2030.

This purpose of this study aimed to assess the Environmental Kuznets Curve hypothesis following the ecological footprint perspective with a data set covering the period 1995–2018. It is well-established that anthropogenic human activities are the root cause of environmental deterioration. To this end, the current study is fitted in a multivariate framework to ameliorate for omitted variable bias for the data set from 1995–2018 on a quarterly frequency using autoregressive distributive lag methodology. Subsequently, the stationarity status of the study underlines series were examined with a conventional unit root test and the Pesaran’s bounds test for cointegration analysis.

Empirical evidence from the bounds test to cointegration traces the co-integration relationship between ecological footprint, conventional energy use, foreign direct investment, international tourism arrival and water resources over the sampled period. The study, in the long run, affirms the N-shaped relationship between ecological footprint and foreign direct investment in Vietnam. Additionally, the present study validates the hypothesis of energy consumption-induced pollution emissions. The relationship between international tourism arrival and quality of the environment is statistically positive in both the short-run and long-run, as 1% in international tourism arrival worsens the quality of the environment by 0.45% and 0.4% in the short-run and long-run, respectively. Interestingly, water resource's major environmental issues that have plagued the Vietnam economy are inversely related to ecological footprint. Based on findings, Vietnamese policymakers may need to consider drafting appropriate environmental policies to tackle global warming while concurrently boosting economic development.

The present study focuses on Vietnam on the determinant of environmental quality measured by a broader indicator (ecological footprint). It is well-established that anthropogenic human activities are the root cause of environmental deterioration. The present study claims to distinct from previous literature in two-folds, namely, in terms of scope. Vietnam holds a very interesting energy mix and environmental dynamics, which has been ignored in the literature. Second, we argue to be the first based on our survey to explore the theme by incorporation of water resources and foreign direct investment intensification in the conventional pollution determinant model. This is in a bid to highlights the policy blueprint for the country (Vietnam), which is currently plagued with high pollution issues and the region at large.

This study aims to adopt the unified theory of acceptance and use of technology (UTAUT) model to assess travel purchase intentions in Fiji and Solomon Islands. The UTAUT model is extended with the inclusion of trust and attitude. This allows for new relationships to be tested. Both countries are classified as Small Island Developing States (SIDS). These two countries are chosen because they are both exemplars for developing countries in the Pacific, which are often overlooked in the literature. In doing so, the study increases the generalizability of the research instrument and the UTAUT model.

This study adopts a quantitative approach and collects data from Fiji and Solomon Islands residents. The survey instrument comprises two broad sections. The first section contains a standard set of demographic questions, including age, gender, income, and education level. The second section contains the variable items for this study. The snowballing sampling technique was used to collect 620 responses using an online survey. Links to the questionnaire were circulated through the use of social media Facebook. The survey was designed and hosted using an online survey tool (SurveyMonkey).

The findings of this study show that both perceived trust and attitude have been found significant in both countries. On the other hand, performance expectancy (PE) and effort expectancy (EE) have not been found significant for Fiji and Solomon Islands respectively. This study also finds that PE affects attitude for both countries, however, EE is only significant in the Solomon Islands.

Similar to other studies, this study is also bound by limitations that provide fertile ground for future research. The data in this study was based on convenience sampling. Thus, generalizations of the results need to be done with caution. Future research may be conducted that matches the sample to the population proportions. The definition of online travel purchases is another limitation of this study. A broad definition of an online purchase is considered in this study, which involves hotel reservations, holiday packages, cruises, and airline tickets. Thus, future research can be carried considering distinct purchasing motivations of categories of travel products rather than travel being considered as one category.

The results of this study provide valuable implications for both businesses to formulate and execute strategies to increase customers’ adoption of online travel purchases. The findings show how the differences in characteristics at the country level give rise to differences in customer perceptions and their intention to engage in online travel purchases. In doing so, businesses will be able to exploit the full commercial potential of their travel websites and reduce the administrative and personnel costs associated with traditional purchasing processes.

Insights from this study would be effective in understanding the unique characteristics of countries and their influence on customer behavior. This would enable more effective strategy development to improve customers' adoption of online travel purchases. The study also contributes theoretically by highlighting the importance of contextual factors in influencing the view of theories. It is one of the first studies to investigate the customer's adoption of technology in SIDS. In doing so, this study increases the generalizability of the research instrument and the UTAUT model by testing it in a developing country context where empirical evidence is lacking.

India’s Mental Healthcare Act 2017 provides a right to mental healthcare, revises admission and review procedures, effectively decriminalises suicide and has strong non-discrimination measures, among other provisions. The purpose of this paper is to examine Indian mental health professionals’ views of these changes as they relate to stigma and inclusion of the mentally ill.

The authors held nine focus groups in three Indian states, involving 61 mental health professionals including 56 psychiatrists.

Several themes relating to stigma and inclusion emerged: stigma is ubiquitous and results in social exclusion; stigma might be increased rather than remedied by certain regulations in the 2017 Act; stigma is not adequately dealt with in the legislation; stigma might discourage people from making “advance directives”; and there is a crucial relationship between stigma and education.

Implementation of India’s 2017 Act needs to be accompanied by adequate service resourcing and extensive education, including public education. This has commenced but needs substantial resources in order to fulfil the Act’s potential.

India’s mental health legislation governs the mental healthcare of 1.3bn people, one sixth of the planet’s population; seeking to use law to diminish stigma and enhance inclusion in such a large country sets a strong example for other nations.

This is the first study of stigma and inclusion since India’s 2017 Act was commenced and it highlights both the potential and the challenges of such ambitious rights-based legislation.

This paper aims to explore the outcomes of an analysis on day by day task – journey planning conduct of senior citizens by using a modern dynamic model and a family unit travel overview, gathered in Bhubaneswar, Odisha, of India in 2018. The task-journey planning display assumes an unique time–space-constrained planning development.

The main commitment of this paper is to reveal day by day task – journey planning conduct through a comprehensive dynamic framework. Numerous behavioural subtleties are revealed by the subsequent empirical model. These incorporate the role that income plays in directing outside time consumption decisions of senior citizens. Senior citizens in the most elevated and least salary classes will in general have minor varieties in time consumption decisions than those in middle pay classifications. Generally speaking, the time consumption decisions become progressively steady with expanding age, demonstrating that more task durations and lower task recurrence become progressively predominant with increasing age.

Day by day task-type and area decisions reveal a reasonable irregular utility-amplifying level headed conduct of senior residents. Unmistakably expanding spatial availability to different task areas is an urgent factor in characterizing every day outside task interest of senior residents. It is likewise evident that the assorted variety of outside task-type decisions decreases with rise in age and senior citizens are major touchy to auto journey hour than to travel or non-mechanized journey hour.

The fundamental constraint to the dynamic structure is that the mode decision model was viewed as exogenic to the demonstrating framework. The essential purpose behind this supposition that was that senior citizens in the Bhubaneswar are overwhelmingly customers of the local car. Coordination of the mode decision display part inside this structure would deliver a full task-based journey request model that could catch trip age, starting times, outing circulation and mode decision using a solitary demonstrating framework.

The purpose of this paper is to construct an econometric model of the determinants of private investment with a particular focus on the impact of democracy on investment.

The first step was to econometrically derive the long‐run elasticities; then to modify the Fiji computable general equilibrium (CGE) model to incorporate the investment function. Also the econometrically derived long run elasticities in the CGE model were used.

It was found that democracy has a positive and statistically significant impact on private investment in Fiji. The paper's simulation of Fiji becoming a fully democratic country on investment and other macroeconomic fundamentals, based on a CGE model, reveals that real gross domestic product and real national welfare increase by around 0.01 and 0.05 per cent, respectively; government savings and revenue performance improves; there is a trade balance surplus; and both private consumption and disposable income increase by around 0.05 and 0.12 per cent, respectively.

This is the first study that uses a CGE model to examine the impact of democracy, via investment, on other macroeconomic fundaments. No other study is known to have modelled democracy in a CGE framework.

Capital structure theory.

The case is meant for teaching and class discussion, and uses only secondary data based on published sources. The interpretation and perspectives presented are based solely on the secondary data.

This paper aims to help current and future managers understand capital structure theory and the various equity and debt finance options available for raising capital. It also examines the financial analysis and strategic management of black swan events. After the class discussion, students will understand how to financially and strategically manage a company during black swan events and also have a deep dive into capital structure analysis of a large company.

MBA/postgraduate/undergraduate courses on corporate finance or advanced corporate finance. Executive/management development programs and short duration Massive Open Online Courses on investment decision-making and advanced corporate finance. MBA/postgraduate/undergraduate courses on corporate strategy and economic environment and planning.

The subject areas are strategy, general management, health-care management, change management and inclusive growth model and application of technology to manage health care.

The case can be used to teach challenges in managing change in a health-care facility.

Tata Memorial Centre (TMC) is dedicated to provide best health-care services in the field of cancer cure. TMC established its credentials for service, education and research, which contributed to it being rated among the ten best hospitals year on year. Starting from humble moorings, TMC has grown to an institution of high repute from an 80-bed hospital to a 700-bed hospital. TMC held a number of pioneering efforts, which included bone marrow transplantation, external beam radiotherapy (linear accelerator), tumor tissue bank and bio-imaging to name a few. The management team of TMC had ensured that the growth had been orderly and appropriate to the changing needs of the community. Managing a hospital with disparate skill sets in the face of ever-increasing demand for services had always been a challenge in itself. As a government-run facility and well funded by the trust, TMC offered excellent services and post-operative care to the patients. So, it became imperative for the hospital to adopt technology to improve its hospital services and maintain transparency. Patients came to the hospital from different states in India and across the globe. TMC registered international and national patients online. Online medical reports were checked before the patients visited the hospital. TMC has developed an e-system that will allow patients around the world to send their tissue samples that are suspected to be cancerous for medical advice to the hospital. This case study is developed to provide insights into the transformation of TMC into an e-health-care service and explains the process of change management.

They are to provide insights into the challenges in health-care management, to illustrate the challenges faced by organization in implementing information and communication technology- managing change and to bring about best practices in the case organization and find solutions to the following questions: What are challenges faced by health-care officials in providing health care using new technological innovations? How can hospitals equip themselves with new technology? With the advent of improved and modern communication methods, medical practices and cases are more easily shared. Cases are discussed, recorded and, in many cases, put up for general public viewing through the electronic media. How can hospitals manage change? How can hospital administrators manage speed of delivery, quality healthcare, innovation and brand image?

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS:11 Strategy.

The purpose of this paper is to identify the arbitrage opportunities between US industry-level credit and stock markets with a focus on dynamic lead-lag relationships given that these markets involve heterogeneous agents operating over various time horizons.

The authors use daily data of 11 US industries stock markets and their credit counterparts to model the dynamic dependence and casual nexuses using time-frequency approach, namely, wavelet squared coherence (WTC).

The WTC estimation results show that credit and stock markets are out of phase (counter cyclical) and stock markets lead their credit counterparts. The coherence between two markets increases during financial crises. The banks (utilities) industry credit and stock markets have relatively high (low) dependence.

The casual nexuses between stock and credit markets have multilateral dimensions. Greater interest in examining the relationship between stock markets and credit default swap (CDS) spreads emerged as an important albeit a complex area of research, and gained prominence especially at the onset and following the global financial crises of 2007-2008 which clearly showed that the positive views of CDSs contribution in creating a resilient and efficient financial sector was nothing further from the truth.

The arbitrage and hedging opportunities between stock and credit markets are industry dependent and vary over investment time horizons. The utilities industry seems attractive for the investment with the objective to exploit arbitrage, but not for hedging.

The paper, for the first time, employs time-frequency approach to assess the arbitrage opportunities between US industry-level credit and stock markets.

The purpose of this paper is to examine the causal relationship between insurance penetration and economic growth in eight selected African countries.

The auto-regressive distributed lags bounds approach to cointegration is employed on annual time-series data from 1990 to 2010 to test the causal relationship between insurance and economic growth in Algeria, Gabon, Kenya, Madagascar, Mauritius, Morocco, Nigeria and South Africa. The ratio of life and non-life insurance premiums to gross domestic product are employed as proxies for insurance market development.

The results of the bound test shows a long-run relationship between insurance market activities and economic growth for Kenya, Mauritius, Morocco, Nigeria and South Africa. Causality analysis within the vector error correction model indicates a uni-directional causality from insurance market development to economic growth except for Morocco where there is evidence of a bi-directional causality. Causality within the vector autoregressive framework also provides evidence of a uni-directional causality for Algeria and Madagascar to support the “supply-leading” hypothesis while mixed causality was found for Gabon.

This findings provides policy direction for governments and regulatory authorities for developing insurance market in the sample countries.

This is the first study to examine the finance-growth relationship from the perspective of insurance markets in a cross-section of African countries.