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The purpose of this paper is to deal with profit maximization problem of two-layer supply chain (SC) under fuzzy stochastic demand having finite mean and unknown variance. Buyback policy is employed from the retailer to supplier. The profit of the supplier solely depends on the order size of the retailers. However, the loss of shortage items is related to loss of profit and goodwill dependent. The authors develop the profit function separately for both the retailer and supplier, first, for a decentralized system and, second, joining them, the authors get a centralized system (CS) of decision making, in which one is giving more profit to both of them. The problem is solved analytically first, then the authors fuzzify the model and solve by fuzzy Hausdorff distance method.

The analytical models are formed for both centralized and decentralized systems under non-cooperative and cooperative environment with suitable constraints. A significant assumption on density function, namely Cauchy-type density function, is introduced for demand rate because of its wider range of the retailers’ satisfactions. Fuzzy Hausdorff metric is incorporated within the fuzzy components of the fuzzy sets itself. Using this method, the authors find out closure values of both centralized and decentralized policies, which is an essential part of any cooperative and non-cooperative two-layer SC models. Moreover, the authors take care of the profit values with corresponding ambiguities for both the systems explicitly.

It is found that the centralize policy of SC could only be able to maximize the profit of both the retailers and suppliers. All analytical results are illustrated numerically along with sensitivity analysis and side by side comparative studies between Hausdorff and Euclidean distance measure are done exclusively.

The main focus of attention of the proposed model is given to usefulness of Hausdorff distance. Unlike other distances, Hausdorff distance can take special care on the similarity measures of different fuzzy sets. Researchers have been engaged to use Hausdorff distance on the different fuzzy sets but, in this study, the authors have used it within the components of a same fuzzy set to gain more closure values than other methods.

The use of this Hausdorff distance approach is totally new as per literature survey suggested yet. However, the Cauchy-type density function has not been introduced anywhere in SC management problems by modern researchers still now. In crisp model, the sensitivity on goodwill measures really provides a special attention also.

This study aims to obtain an understanding of the impact of personal cultural orientation on potential consumers’ intention toward the purchase of high-involvement green products, specifically, electric two-wheelers in India, which is one of the largest emerging markets of the world.

A self-administered questionnaire comprising a total of 30 items was administered over a sample of 582 respondents. The structural equation modeling using partial least square was used to analyze the relative impact of different cultural dimensions on consumers’ green purchase intention. Geert Hofstede’s typology of culture was used to represent personal cultural orientation and four of the five dimensions, namely, collectivism, long-term orientation (LTO), masculinity and uncertainty avoidance were studied.

Findings of the study revealed that collectivism, LTO and masculinity appear to be significant cultural dimensions that influence Indian consumers’ intention to purchase electric two-wheelers. Collectivism is the most influential dimension, followed by LTO and masculinity.

This study helps in expanding literature in the area of green purchase by providing insight on how consumers’ individual cultural orientation influences their purchase of eco-friendly products such as electric two-wheelers.

The findings of the study offer insights, which can be useful for marketers in developing various promotional strategies, as consumers’ cultural values have significant implications for decisions with respect to the advertisement content.

This study illustrates the relative impact of different dimensions of national culture (measured at consumers’ personal level) on consumers’ green purchase intention. Such a study appears to be important in extending current knowledge on green purchase behavior in one of the largest emerging markets such as India.

The purpose of this study is to broadly examine the role of marketing–finance interface factors for value creation. Specifically, the study investigates the influence of discretionary expenditures such as advertisement on valuation of brands and firms within the framework of risk factors.

To test the model and hypotheses of this study as it has the possibilities of multiple causations among different variables used in the system. Some independent variables are not truly independent and there is a possibility of biased estimation and inconsistent results. Hence a dynamic simultaneous equation model is used including the instrumental variable approach.

The study provides evidence for direct association between brand value and firm value which is represented by the joint impact of both operating and stock market performance. The results establish the direct relationship between brand and firm value and signify the relevance of intangible value creation.

This study addresses the gap in the research which examines the role of marketing decisions on value creation which jointly impacts both operating and stock market performance.

The purpose of this paper is to examine how the various perceived risk facets such as financial risk, performance risk, psychological risk, social risk, and physical risk influence the Indian consumers’ perceived overall risk during the purchase of green products such as energy-efficient LED light bulbs.

A self-administered questionnaire comprising a total of 29 items was employed over a sample of 272 respondents. The structural equation modeling using partial least squares was used for data analysis.

Psychological risk emerged as the most influential of the various risk facets in affecting perceived overall risk. Financial, physical, and performance risks emerged as the second, third, and fourth most influential risk facets, respectively, which affect the perceived overall risk. Surprisingly, social risk did not emerge as an influential facet when it comes to affecting perceived overall risk. Further, psychological and financial risks appeared to have a positive medium-level influence on the perceived overall risk, whereas physical and performance risks appeared to have a positive weak influence on the perceived overall risks. The influence of financial risk on the perceived overall risk was found to be partially mediated by performance risk.

The study is unique in the sense that it reflects the risk perception of potential consumers in one of the largest emerging markets of the world, when it comes to purchase of green products.

The purpose of this paper is to explore the actual walking distance to public transport (PuT) stations and to report passenger perceptions on route choice.

A systematic case study has been conducted after administrating a tailor-made paper-based intercept survey in a German city (Munich). It can determine the interrelation between the accessibility of the transit service and evaluation on walking distance acceptance. Statistical analysis and geo-spatial approach were completed for obtaining major findings.

Statistical and geo-spatial analysis shows that respondents living in low-density areas walk longer than residents living in nearby inner city areas. In terms of PuT modes, residents walk longer for suburban train and subway/metro (U-Bahn) than for bus/tram services. Transit users accept a longer walking distance to reach a train station than other PuT modes and they choose the most direct and quickest route to reach PuT stations.

Findings of this study would help to formulate future strategies and standards for the sustainable planning of public transportation systems in the context of Munich and many other cities around the globe with similar conditions. However, future research should be conducted using a large-scale survey for evaluating the comprehensive picture of walking patterns to PuT stations. Accessibility to PuT stations can also be modeled and evaluated by adopting open data and voluntary social media information. Unfortunately, this study only presents a partial evaluation of walking focused on accessibility at selected PuT stations in different settings of the urban fabric.

This empirical study can be considered as an initial finding in the favor of the city transport authority to provide a design scale for improved accessibility of transit users; however, further investigation should be conducted using a large-scale survey for evaluating the comprehensive walking patterns.

A systematic case study has been conducted after administrating a tailor-made paper-based intercept survey in a German city (Munich). Findings of this study would help to formulate future strategies and standard for the sustainable planning of the public transportation system in the context of Munich and many other cities in the globe with similar conditions.

This study aims to evaluate the influence of corporate governance index (CGI), ownership concentration (OC) and other features on the dividends of listed Indian pharmaceutical companies. The other features included are leverage, excess return over cost of equity and stock-market return. This study thus helps to provide more insights on the dividend distribution issues for a shareholder in the challenging and demanding pharma industry, especially when stakes are high.

The data for all 26 pharmaceutical companies which form part of the NSE NIFTY-500 index for six years (2014–2019) is procured using Centre for Monitoring Indian Economy’s (CMIEs) Prowess database. An eight-pointer scale (unweighted scale) is used to develop the CGI. For OC, this paper considers the proportion of promoters’ shareholding, domestic institutional investors’ shareholding and foreign owners’ shareholding. Both static and dynamic panel data models are used to evaluate the effect of CGI and OC on dividends.

The panel data analysis depicts that CGI significantly positively influences the dividends of pharmaceutical companies in India. Thus, the authors find support for La Porta et al.’s outcome agency model. The results also reveal that only promoters’ holdings are significantly inversely related to dividends out of the three OC variables used for this study. This discussion implies that family-run pharmaceutical companies in India tend to retain profits instead of distributing dividends.

This study provides two direct insights for policymakers and stakeholders. First, because this study shows that CGI significantly positively influences dividends, corporate governance (CG) is an essential factor for determining dividends. Second, because the results also reveal that OC in the hands of promoters hurts dividends, it implies that the higher the promoter holding, lesser is the dividend distributed by the company. Both these results can be used as a quantitative tool by investors to assess Indian pharmaceutical companies better. However, a similar study could be directed to assess the impact of CGI and OC on dividends of other industries. Moreover, additional variables of CG and OC can also be evaluated in further detail. There is also a need to empirically validate the impact of CG and OC on a company’s performance.

The results are robust and reveal that variation in CGI does impact dividend policy. This aids in confirming that CG is a crucial aspect influencing dividends. The findings also add to the increasing studies across the globe evaluating the influence of CG and OC on dividends.

Sewing thread plays an important role in transforming a two-dimensional fabric into three-dimensional garment. Over the years, ring spinning has been dominating the yarn market because of its consistent performance. Eli-Twist spinning system, a new method of yarn manufacture, provides a product with improved mechanical and physical properties than the conventional ring-spun yarn. It is the process of producing a two-ply compact yarn with improved fibre utilisation. The purpose of this paper is to assess the feasibility of using Eli-Twist yarn as a sewing thread and to compare its performance with conventional thread.

In this study, regular polyester and Indian cotton were used to produce the Eli-Twist and conventional TFO thread. Three different blends (100 per cent polyester, 50/50 polyester/cotton [P/C] and 100 per cent cotton) were taken to produce three different counts (39.4 tex, 29.5 tex and 23.6 tex) from each composition. The hairiness, tenacity, breaking elongation and coefficient of yarn-to-metal friction of threads were tested and a comparative analysis was made. The seam performance of all the threads was judged by seam strength, seam efficiency and seam elongation.

The results show that the mass irregularity and imperfections are more or less similar for both types of threads. Eli-Twist sewing thread has shown less friction, less hairiness and higher tensile strength. The Eli-Twist sewing thread was found to be better than the conventional two-ply sewing thread. The seam performance parameters, such as seam strength, seam efficiency and seam elongation of the Eli-Twist thread showed significantly improved performance.

The main concern of this study is delineating the performance of the Eli-Twist sewing thread. No study in this regard has been reported so far. The improved physical and mechanical behaviour of the Eli-Twist yarn has prompted to assess its performance as sewing thread.

This study aims to examine whether social initiatives adopted by firms lead to improved financial performance. The authors analyse the impact of different elements of social initiatives on wealth creation for firms in terms of operating and market performance.

The study is based on the social initiative scores of over 4,500 firms collected from Thomson Reuters' ESG database. The study uses two-stage least squares (2SLS) to analyse the relationship between social initiatives and firm performance.

Profitable, mature, capital intensive and firms with high sales growth rate tend to invest more in social initiatives. Firms with high agency costs invest in social initiatives for workforce efficiency, maintaining human rights and product responsibility. The study documents evidence that social investments are value creating mechanism for firms which leads to improved financial performance in terms of operating and stock market performance. Firms with high dividend intensity invest in social initiatives for workforce welfare and human rights initiatives. Investment in employee well-being and community initiatives results in intangible benefits such as improved stock market valuation.

The research model has not considered the impact of intervening variables to understand the relationship between corporate social performance and corporate financial performance.

Firms ought to recognize that social investment is beneficial in terms of value creation of firms as stock market perceive such investments favourably. Firms must focus more on community development initiatives and workforce initiatives for the value creation of firms compared to investments directed towards human rights initiatives and product responsibility initiatives.

This study focusses exclusively on the social dimension of the CSR activities. The authors examine the impact of social welfare scores on firm performance by analysing the valuation effects on scores representing workforce, human rights, community and product responsibility. Moreover, the paper also examines the impact of a new dimension of product responsibility on firm performance. They also focus on both aspects of financial performance in terms of operating performance (proxied by ROE) and the joint impact of both operating and market performance (proxied by Tobin’s Q). This paper contributes to the research on the linkage of social performance to financial performance by observing that firms with high agency cost characteristics tend to invest in social initiatives for work force efficiency, maintaining human rights and product responsibility.

This research study examines the impact of social and governance initiatives on financial performance of global banks. The study is significant in the context of massive changes in regulations, government policy, social attitudes and market development attributed to banking sector.

The source of data for this study was ESG database of Thomson Reuters. The study was based on 472 global banks. The research paper uses two-stage least square model and the study covered the five-year period 2015–2019.

Banks with high intensity of social and governance-related activities have positive market-based valuation effects. Adequately capitalized banks tend to invest more in social initiatives. Banks' governance initiatives directed toward the use of anti-takeover defensive mechanisms are skeptically perceived by markets. Riskier banks tend to have less investments in social initiatives.

The findings are relevant in the context of expectations from policymakers, consumers and investors with respect to the role which banks ought to play in funding the development of a sustainable economy. The research finding that strong governance and social initiatives by banks are value-enhancing measures is a clear evidence of the significance of ESG initiatives as value-creating mechanisms as perceived by markets.

This study addresses the gap in the research, which examines the role of governance and social initiatives on value creation in the banking sector firms. The study examines the impact of different elements of governance and social initiatives on financial performance of banks.

Visco‐elastic fluid flow and heat transfer in a porous medium over a non‐isothermal stretching sheet have been investigated. The flow is influenced by linearly stretching the sheet in the presence of suction, blowing and impermeability of the wall. Thermal conductivity is considered to vary linearly with temperature. The intricate non‐linear problem has been solved numerically by shooting technique with fourth order Runge‐Kutta algorithm after using perturbation method. The zeroth order solutions are obtained analytically in the form of Kummer’s function. An analysis has been carried out for two different cases, namely prescribed surface temperature (PST) and prescribed heat flux (PHF) to get the effect of porosity and visco‐elasticity at various physical situations. The important finding is that the effect of visco‐elasticity and porosity is to increase the wall temperature in case of blowing and to decrease in both the cases of suction and when the stretching sheet is impermeable.