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1 – 10 of 92Muskan Sachdeva, Ritu Lehal, Swati Gupta and Sanjay Gupta
The behavioural decision-making process of individuals highlights the importance of investors’ sentiment and their correlation with the real economy. This paper aims to contribute…
Abstract
Purpose
The behavioural decision-making process of individuals highlights the importance of investors’ sentiment and their correlation with the real economy. This paper aims to contribute to the literature of behavioural finance by examining the influence of contextual factors on investment decision-making.
Design/methodology/approach
Using a questionnaire, a total of 445 valid responses were collected from March to May 2021 through online sources. The current study uses a technique of Fuzzy-analytical hierarchical process (AHP) to assign relative weights to various contextual factors influencing investment decision-making. Harman’s single factor test was used to check common method bias.
Findings
Results of the study reveal that accounting information, self-image/firm-image coincidence, and neutral information as the top-ranked factors in influencing investment decisions, whereas advocate recommendation and personal financial needs emerged as less important factors in influencing investment decisions.
Research limitations/implications
The current study collects data from Indian stock market investors, which may limit the generalization of the study to India only. Moreover, this study is cross-sectional in nature, and there are numerous factors that are not part of the study but might significantly influence the investors’ decision-making process.
Practical implications
The research has implications for both academicians working in the area of behavioural finance and practitioners’ who are active in stock markets, more specifically dealing with retail investors and in the domain of personal finance. Also, the current study will accommodate different groups, i.e. policy makers, financial advisors, investors, investment professionals, etc. in carrying out their professional work.
Originality/value
The current study will provide a comprehensive overview of individual investor behaviour. To the best of the authors’ knowledge, the present study is one of its kind to use the Fuzzy-AHP technique for evaluating the relative ranks of contextual factors influencing investment decision-making.
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While national public policies such as performance contracts and disinvestment affect the dynamics of large- and medium-scale state-owned enterprises in emerging market economies…
Abstract
Purpose
While national public policies such as performance contracts and disinvestment affect the dynamics of large- and medium-scale state-owned enterprises in emerging market economies, the purpose of this paper is to analyze the performance of India’s public sector undertakings (PSUs) and suggest options to improve their outcomes.
Design/methodology/approach
Using firm-level data on India’s 235 PSUs with total assets of around $500 billion over the past two and half decades (1990-2015), the study empirically tests the effect of performance contracts, measured by memorandum of understanding (MOU) and disinvestment, measured by private equity share, on PSUs performance indicator such as return on capital (ROC). Data were collected from the Public Enterprises Survey Reports released by the Department of Public Enterprises under India’s Ministry of Heavy Industries and Public Enterprises, Department of Disinvestment, Bombay Stock Exchange and Capitaline database. By controlling firm-, industry- and macro-level factors in regression models, the results were presented in several aspects like service sector, non-service sector and individual and joint effects.
Findings
Empirical estimations indicate that performance contracts such as MOUs have had a positive impact on PSU performance by increasing their ROC by 8-9 percent. This result holds more strongly for the non-service sector (manufacturing, mining) but less so for service sector firms. In the case of service sector firms, partial privatization (share sales) has a significant impact on performance, making them ideal candidates for more aggressive disinvestment. Larger PSUs (Maharatnas) appear to perform better than smaller PSUs and even better than private firms of similar size. Smaller PSUs (Navratnas and Miniratnas) perform worse than private companies and should be good candidates for strategic disinvestment (privatization). PSUs that do not have Ratna status – and are loss makers – should be disposed of their asset value.
Practical implications
The study recommends that India should change the public sector balance sheet by raising capital through strategic disinvestment (privatization), disinvestment and liquidation of PSUs and re-investing it, in public infrastructure through the National Infrastructure Investment Fund and not into the budget as a revenue-raising measure. It should also transform Maharatnas into world class companies with greater commercialization.
Originality/value
The paper makes significant contributions to the academic literature on the changing dynamics of state-owned enterprises in emerging economies by examining the effect of performance contracts and disinvestment on India’s PSUs performance. It is one of unique longitudinal-empirical studies on India’s PSU performance in several dimensions.
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Swati Gupta, Shubham Gupta, Shifali Kataria and Sanjay Gupta
The purpose of this study is to recognise the role of information and communication technology (ICT) tools in different sectors like Education, Health Care, Business, FMCG and…
Abstract
Purpose
The purpose of this study is to recognise the role of information and communication technology (ICT) tools in different sectors like Education, Health Care, Business, FMCG and Entertainment in the phase of social distancing. This study also attempts to provide a quantitative review of the scholarly literature on this topic.
Design/methodology/approach
A comprehensive literature evaluation was undertaken using a database encompassing 150 English-language papers with publication dates ranging from 2019 to 2021. The research profile and thematic analysis are presented through a comprehensive content analysis, resulting in four themes. The study reviews various research articles and reports related to social distancing and opens a discussion on the growing importance of ICT tools during this COVID-19 era.
Findings
ICT acts as a surviving tool for the economy by creating a virtual environment and helping people to stay socially connected during this pandemic. There is a lack of empirical evidence to support the facts so further research is required.
Research limitations/implications
There are two drawbacks to the current study. Firstly, this study established a rigorous review methodology in which the researchers opted to exclude any grey literature, non-peer-reviewed articles, books, notes and book chapters from consideration. These sources could have had pertinent literature. Secondly, even after protocol’s rigour and numerous rounds of checks by a team of academicians and researchers, an anomaly may have sneaked into the evaluation.
Originality/value
The current study contributes to the growing literature on ICT tools particularly in this phase of social distancing. This paper highlights the need for future research in this area supported by different statistics.
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Sanjay Gupta, Sahil Raj, Aashish Garg and Swati Gupta
The primary purpose of this study is to examine the factors leading to shopping cart abandonment and construct a model depicting interrelationship among them using interpretive…
Abstract
Purpose
The primary purpose of this study is to examine the factors leading to shopping cart abandonment and construct a model depicting interrelationship among them using interpretive structural modeling (ISM) and Matriced Impact Croises Multiplication Appliquee an un Classement (MICMAC).
Design/methodology/approach
Initially, 20 factors leading to shopping cart abandonment were extracted through a systematic literature review and expert opinions. Fifteen factors were finalized using the importance index and CIMTC method, for which consistency has been checked in SPSS software through a statistical reliability test. Finally, ISM and MICMAC approach is used to develop a model depicting the contextual relationship among finalized factors of shopping cart abandonment.
Findings
The ISM model depicts a technical glitch (SC8), cash on delivery not available (SC4), bad checkout interface (SC9), just browsing (SC11), and lack of physical examination (SC12) are drivers or independent factors. Additionally, four quadrants have been formulated in MICMAC analysis based on their dependency and driving power. This facilitates technical managers of e-commerce companies to focus more on factors leading to shopping cart abandonment according to their dependency and driving power.
Research limitations/implications
Taking an expert’s opinion as a base may affect the results of the study due to biases based on subjectivity.
Practical implications
This study’s outcomes would accommodate practitioners, researchers, and multinational or national companies to indulge in e-commerce to anticipate factors restricting the general public from online shopping.
Originality/value
For the successful running of an e-commerce business and to retain the confidence of e-shoppers, every e-commerce company must make a strategy for controlling factors leading to shopping cart abandonment at the initial stage. So, this paper attempts to highlight the main factors leading to shopping cart abandonment and interrelate them using ISM and MICMAC approaches. It provides a clear path to technical heads, researchers, and consultants for handling these shopping cart abandonment factors.
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Hanumantha Rao Sama, Sanjay Gupta, Manoj Mathew and Swati Gupta
The main objective of this study is to compare the service quality of two retail chains of hypermarkets, namely, Big Bazaar and Spencer's, using the trapezoidal fuzzy approach.
Abstract
Purpose
The main objective of this study is to compare the service quality of two retail chains of hypermarkets, namely, Big Bazaar and Spencer's, using the trapezoidal fuzzy approach.
Design/methodology/approach
Customers from Big Bazaar and Spencer's of Andhra Pradesh, India, have been surveyed through a well-designed questionnaire. The study attempts to compare the service quality of two major retail giants (Spencer's and Big Bazaar) in Andhra Pradesh by using the trapezoidal fuzzy approach to prioritize the attributes of service quality of retail outlets.
Findings
The result of the study indicates that the expectations of Big Bazar customers are higher as compared to Spencer's. Further, the study reveals – that Spencer's need to improve in the dimension of tangibility while Big Bazar needs to focus more on responsiveness.
Research limitations/implications
As the data taken for the study are primary in nature, chances of bias may arise on the part of respondents, which may affect the validity of results. Further, the study is confined to two retail stores in Andhra Pradesh, India only, which may not reflect the broader picture.
Practical implications
Retailers may provide more importance to two major service quality dimensions, i.e. tangibility and responsiveness while preparing for their service and marketing strategies.
Originality/value
As the study relates to the comparative analysis of service quality of Big Bazar and Spencer's, the findings will be of additional value to these specific retailers. Therefore, it is expected that this study will fill the gap in the literature by prioritizing the expectations and perceptions of customers of Big Bazar and Spencer's.
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Swati Gupta, Sanjay Gupta, Manoj Mathew and Hanumantha Rao Sama
The primary objective of this study is to prioritize the main intentions behind investment in cryptocurrency, in spite of its volatile nature and no regulatory framework.
Abstract
Purpose
The primary objective of this study is to prioritize the main intentions behind investment in cryptocurrency, in spite of its volatile nature and no regulatory framework.
Design/methodology/approach
This research paper has worked on collective constructs of the unified theory of acceptance and use of technology (UTAUT), the technology acceptance model (TAM) and social support theory with an added construct of financial literacy. A fuzzy analytical framework has been applied to prioritize the intentions of investors.
Findings
The result indicates that “Social Influence (SI)†is the most influencing factor, while “Effort Expectancy (EE)†is the least influencing factor considered by investors. The subdimensions ranked in the top priority by investors are as follows: “I want to invest in cryptocurrencies because I have a good level of financial knowledge (FL1)â€; “The people who are important to me will think that I should use cryptocurrencies (SI2)â€; “I have the necessary resources to use cryptocurrencies (FC2).†The least importance is given to “It will be easy for me to become an expert in the use of cryptocurrencies (EE3).â€
Research limitations/implications
Few of the constructs of the UTAUT, the TAM and social support theory have been considered while prioritizing intentions. Different other intentions also prevail under different theories that need to be researched further.
Practical implications
Unlike previous studies, this research adds the archetype of social commerce, social support and utility theories to analyze and prioritize the behavioral perspective of using cryptocurrencies in digital transactions.
Originality/value
This paper fills the gap in the research study, along with assisting the regulators and cryptocurrency practitioners to widen their knowledge base and to recognize the prioritized intentions.
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Sanjay Gupta, Nidhi Walia, Simarjeet Singh and Swati Gupta
This comprehensive study aims to take a punctilious approach intended to present qualitative and quantitative knowledge on the emerging concept of noise trading and identify the…
Abstract
Purpose
This comprehensive study aims to take a punctilious approach intended to present qualitative and quantitative knowledge on the emerging concept of noise trading and identify the emerging themes associated with noise trading.
Design/methodology/approach
This study combines bibliometric and content analysis to review 350 publications from top-ranked journals published from 1986 to 2020.
Findings
The bibliometric and content analysis identified three major themes: the impact of noise traders on the functioning of the stock market, traits of noise traders and different proxies used to measure the impact of noise trading.
Research limitations/implications
This study undertakes research papers related to the field of finance, published in peer-reviewed journals and that too in the English language.
Practical implications
This study shall accommodate rational traders, portfolio consultants and other investors to gain deeper insights into the functioning of noise traders. This will further help them to formulate their trading/investment strategies accordingly.
Originality/value
The successful combination of the bibliometric and content analysis revealed major gaps in the literature and provided future research directions.
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The aim of this work was to study the effect of aerobic packaging on storage quality of functional restructured spent hen meat slices (FRSHMS) at refrigerated temperature (4 Â…
Abstract
Purpose
The aim of this work was to study the effect of aerobic packaging on storage quality of functional restructured spent hen meat slices (FRSHMS) at refrigerated temperature (4 ± 1°C).
Design/methodology/approach
FRSHMS were prepared by replacing the lean meat with different binders and extenders in pre-standardized restructured spent hen meat slices formulation. The slices of control and FRSHMS were aerobically packaged in LDPE and analyzed for physicochemical, microbiological and sensory quality.
Findings
The pH of FRSHMS was significantly higher (p = 0.03) than control on 0 and 7th day. Thiobarbituric acid (TBA) values of both control and FRSHMS increased significantly on 21st day of storage as compared to 0 day. TBA value of FRSHMS was significantly lower (p = 0.04) as compared to that of control on 21st day. Psychrophils were detected on 14th day of storage and thereafter increased significantly (p = 0.00) in both control and FRSHMS. Coliforms were detected only on 21st day of storage in both control and FRSHMS. The sensory attributes of control, and FRSHMS were affected from 14th day onwards, but the products remained quite acceptable with sensory rating between good to very good up to 21 days during refrigerated storage.
Research limitations/implications
The trials can be further carried in modified atmospheric packaging to evaluate storage stability of developed restructured spent hen meat slices.
Originality/value
The paper has demonstrated that the FRSHMS could be stored safely in aerobic packaging for 21 days at refrigeration temperature.
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Swati Gupta, B. D. Sharma and S. K. Mendiratta
This study aims to evaluate the effect of oat meal on the quality characteristics of restructured spent hen meat blocks. Spent hen meat is considered as poor because of…
Abstract
Purpose
This study aims to evaluate the effect of oat meal on the quality characteristics of restructured spent hen meat blocks. Spent hen meat is considered as poor because of comparatively higher toughness and less juiciness.
Design/methodology/approach
Oat meal (1:1 hydration, w/w) was incorporated at the levels of 4, 6 and 8 per cent by replacing the lean meat in prestandardized restructured spent hen meat blocks formulation and assessed for physico-chemical and sensory quality.
Findings
The product yield and pH of restructured spent hen meat blocks (RSHMB) were significantly higher at 8 per cent oat meal as compared to control. Shear force values of RSHMB with various levels of oat meal incorporation were significantly lower than control. There were no significant differences in the general appearance, texture, binding, juiciness and overall acceptability scores of RSHMB with different levels of oat meal and control. However, there was a marginal increase in binding and juiciness of RSHMB with increase in the level of oat meal. The optimum incorporation level of oat meal in RSHMB was adjudged as 8 per cent, which also resulted in reduction of production cost by Rs. 14.4/kg as compared to control.
Research limitations/implications
The trials can be further carried to evaluate the storage stability of developed RSHMB.
Originality/value
The paper has demonstrated potential of oat meal as an extender in the development of RSHMB, which also reduced the cost of production.
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Swati Gupta, Navpreet Kaur Sidhu and Dixit Kalra
Disruptive technologies are transforming the insurance market, affecting individuals' and organizations' behavior and adaptability. Effective data utilization has become critical…
Abstract
Purpose
Disruptive technologies are transforming the insurance market, affecting individuals' and organizations' behavior and adaptability. Effective data utilization has become critical to success in the dynamic insurance sector.
Design/Methodology/Approach
The current research utilized electronic Scopus databases to include all pertinent prior studies. Employing cutting-edge technology, highlighting benefits, resolving challenges, identifying emerging trends, and identifying new practices, the study chapter explores how data practices alter the insurance industry.
Findings
The emergence of novel technologies, namely the Internet of Things, mobile devices, blockchains, cryptocurrencies, cloud computing, artificial intelligence, machine learning, and cognitive systems, alter the competitive environment on multiple fronts and at different stages. Insurance companies gain essential insights to enhance their decision-making procedures by addressing data accuracy, integration, and regulatory compliance.
Originality/Value
The overview highlights new developments that are radically changing the evolving domain of the insurance business, including augmented analytics, blockchain, predictive analytics, telematics, and ethical AI. This technology is being used so insurers can improve client happiness, handle risks more effectively, and stay competitive. The insurance industry achieves increased efficiency, stimulates innovation, and strategically uses data to strengthen resilience in today's data-centric economy.
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