Miklesh Prasad Yadav, Shruti Ashok, Farhad Taghizadeh-Hesary, Deepika Dhingra, Nandita Mishra and Nidhi Malhotra
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Abstract
Purpose
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Design/methodology/approach
Generic 1 Natural Gas and Energy Select SPDR Fund are used as proxies to measure energy commodities, bonds index of S&P Dow Jones and Bloomberg Barclays MSCI are used to represent green bonds and the New York Stock Exchange is considered to measure the stock market. Granger causality test, wavelet analysis and network analysis are applied to daily price for the select markets from August 26, 2014, to March 30, 2021.
Findings
Results from the Granger causality test indicate no causality between any pair of variables, while cross wavelet transform and wavelet coherence analysis confirm strong coherence at a high scale during the pandemic, validating comovement among the three asset classes. In addition, network analysis further corroborates this connectedness, implying a strong association of the stock market with the energy commodity market.
Originality/value
This study offers new evidence of the temporal association among the US stock market, energy commodities and green bonds during the COVID-19 crisis. It presents a novel approach that measures and evaluates comovement among the constituent series, simultaneously using both wavelet and network analysis.
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Rupali Misra, Jaya Mamta Prosad, Shruti Ashok and Puneeta Goel
This paper aims to identify changes in individual investors’ preferences, prominent sentiments in the market, behavioural tendencies and biases demonstrated as a result of the…
Abstract
Purpose
This paper aims to identify changes in individual investors’ preferences, prominent sentiments in the market, behavioural tendencies and biases demonstrated as a result of the COVID-19 pandemic.
Design/methodology/approach
As the study is exploratory social research, the design is also structured as such. In total, 69 Securities and Exchange Board of India-registered investment advisors catering to investors of diverse profiles, experiences and locales are engaged through in-depth semi-structured interviews. The responses are categorised thematically using a data structure model.
Findings
Investors are guided by an inclination for safer and liquid asset classes and prefer fixed income securities. The authors observe various emotional reactions – inexperienced investors panic, experienced investors act maturely, while a few of both naïve and sophisticated investors are opportunistic contrarians. Lower valuations, ease of access to digital infrastructure for trading and social norms attract many first-time individual investors, causing a phenomenon identified as the “new investor boom”. Apart from the biases identified during the financial crisis, the authors also detect evidence of cognitive dissonance, bandwagon effect, fear-of-missing-out syndrome, disposition effect and others.
Practical implications
The paper also discusses some noticeable behavioural tendencies displayed by the individual investors and compiles helpful strategies to successfully navigate any such financial crisis.
Social implications
An individual investor is a least aware and most affected stakeholder in any crisis, so this study contributes newer insights to ensure their financial well-being.
Originality/value
The study’s originality lies in adopting a qualitative methodology that uses investment advisors’ professional experience to unveil the sub-structures of investor psychology and decision-making behaviour during COVID-19.
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Though there is emerging research that induces a postulation for a Vedic–Buddhist (V–B) cultural cluster, good theory development requires not only generalizability but also…
Abstract
Purpose
Though there is emerging research that induces a postulation for a Vedic–Buddhist (V–B) cultural cluster, good theory development requires not only generalizability but also strong explanation. This paper aims to address the explanation gap to strengthen emerging theory development.
Design/methodology/approach
Religion-derived spiritual philosophy travel is traced from historical origins in India to contemporary Japanese management practice and its underpinning values.
Findings
The enhanced explanation developed in this paper finds a clear trace of spiritual values with roots in India surfacing in contemporary Japanese management as identified in extant cross-cultural management (CCM) literature.
Research limitations/implications
This paper offers important explanation to strengthen emerging theory on the novel idea of a V–B CCM cluster.
Practical implications
The strengthening of explanation for emerging theory adds to the case for modification of the traditional CCM meta-narrative that has positioned India and Japan in separate cultural clusters.
Social implications
Strengthening the postulation of a V–B cultural cluster potentially lubricates foreign investment from Japan to India contributing to achievement of United Nations Sustainable Development Goal no. 17 that pertains to international partnerships. Additionally, the findings raise questions for public policymakers who in modern times occlude religion from the public sphere.
Originality/value
This paper offers novel explanatory perspectives for emerging CCM theory, potentially expanding the spiritual philosophy avenue of management research.
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Shruti J. Raval, Ravi Kant and Ravi Shankar
The purpose of this paper is to examine and introduce comprehensive insights into the field of Lean Six Sigma (LSS) by reviewing the existing literature and identifying the…
Abstract
Purpose
The purpose of this paper is to examine and introduce comprehensive insights into the field of Lean Six Sigma (LSS) by reviewing the existing literature and identifying the research gap. The state of LSS research is assessed by critically examining the field, along with a number of dimensions, including time horizon, year, journal and publisher, university, country, author, geographic analysis, research design, research affairs, research methods, tools/techniques used, focus industries, major research area, benefits gained by LSS, critical success factors and barriers of LSS implementation.
Design/methodology/approach
This paper is based on a systematic literature review of 190 articles containing the word LSS in their title, which are published in a well-known database, such as Elsevier ScienceDirect, Taylor and Francis, Emerald Full Text, Springer Link, Wiley InterScience and Inderscience from January 2000 to September 2016.
Findings
This analysis reveals 15 significant dimensions to identify the state of LSS research. Authors find a noticeable rise in the attention of LSS research in the available literature. Major findings show that, the empirical research holds greater credibility. Statistics prove that the case study method scores the highest among all the research methods used in the discipline. The largest number of studies have investigated research issues related to implementation and process of LSS. The LSS uses a wide range of tools/techniques/methodologies: the choice of tools is situation-specific. Manufacturing and health-care sectors have been the focus of LSS research, but LSS has also been adopted by other types of industries. The organizations following LSS have improved bottom-line results, improved company profitability and growth and enhanced customer satisfaction. In general the research is more interpretive in nature; there is still a lack of standard in the LSS implementation framework.
Research limitations/implications
This study is limited to reviewing those articles which contain the word LSS appeared in the title.
Originality/value
This study will help understand the current state of research on LSS, various trends in the field, its applicability and future prospects of investigation in the field.
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Shruti Singh and Anindita Chakraborty
This study aims to investigate the antecedents of social interaction among Indian retail investors and fund managers to understand how these factors influence investment…
Abstract
Purpose
This study aims to investigate the antecedents of social interaction among Indian retail investors and fund managers to understand how these factors influence investment decisions. By identifying and examining these antecedents, the study aims to shed light on the social dynamics that shape investment behavior in the Indian financial market.
Design/methodology/approach
The researchers have mainly adopted an interpretive strategy for the present study. Qualitative data elicited through semistructured interviews with six retail investors and two fund managers were subjected to qualitative thematic analysis.
Findings
Our research found several factors that make Indian retail investors and fund managers connect and make financial decisions. Peers can improve a person’s investing performance through social facilitation, and discussing investment suggestions and lessons learned can affect a group’s investment behavior. Social norms also influenced investors’ financial decisions, demonstrating compliance. Investor closeness increased information sharing. Finally, the fear of missing out (FOMO), a psychological phenomenon where people fear missing out on rewarding experiences, encouraged social engagement as investors sought appealing prospects.
Research limitations/implications
The researchers interviewed eight carefully selected interviewees across the divide between retail investors and fund managers. Adopting other grouping criteria, conducting a focus group discussion with more respondents or adopting a mixed-methods approach may increase our understanding of the investment decision behaviors of Indian retail investors and fund managers.
Practical implications
The findings have far-reaching consequences, from deepening our knowledge of investors’ motivations and actions to directing individual savers, informing the development of financial literacy initiatives, influencing fund management practices and inspiring additional research in this study area.
Originality/value
This research, including retail investors and fund managers, significantly contributes to the literature on investment decisions and behavioral finance, particularly in the context of Indian investors and managers. This study’s unique perspective and comprehensive approach make it a valuable addition to the field, sparking interest and further exploration among academics, practitioners and investors alike.
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Sadia Samar Ali, Rajbir Kaur and Kirit Goyal
The learning outcomes of this paper are follows: students should be able to understand the complexity related to the provision of safe drinking water for disaster-hit areas and…
Abstract
Learning outcomes
The learning outcomes of this paper are follows: students should be able to understand the complexity related to the provision of safe drinking water for disaster-hit areas and effective solutions to overcome this problem. Also, students should be able to evaluate the need for awareness about post traumas mental health especially in case of disasters and identify how technology can provide answers to such critical issues.
Case overview/synopsis
The case represents a unique scenario where the head of an organization has moved away from the financial prospect and invested time and efforts for the provision of safe drinking water to the inaccessible areas and devise strategies for the improvement of disaster relief operations.
Complexity academic level
Undergraduate and post graduate students.
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 4: Environmental Management.
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The purpose of this paper is to present a broad historical review of critical wisdom literature of ancient Indian tradition and examine how these precepts can complement and…
Abstract
Purpose
The purpose of this paper is to present a broad historical review of critical wisdom literature of ancient Indian tradition and examine how these precepts can complement and enrich the contemporary managerial frames.
Design/methodology/approach
The paper attempts to critically review remarkably deep religious and secular traditions of India and integrate them in a conceptual model.
Findings
The paper findings point towards the need for a holistic frame in overcoming fragmented viewpoints of contemporary management by strengthening the reflective domains of the managerial world.
Research limitations/implications
The limitation of the paper lies in its didactic nature and the specificity of the contextual boundary limiting its ready transferability.
Practical implications
The paper provides a pointer in extending horizons of business or non‐business organizations in opening up their possibilities for achieving holistic managerial perspectives by combining economic, social and other higher order sustainable goals.
Originality/value
The paper's contribution is in its integrative value of some of the key themes of Indian wisdom literature and demonstrating their relevance to the modern management.