Ramanujan International Journal of Business and Research

A Bibliometric Analysis from 2014–2024 to establish Correlation Between Green Human Resource Management (GHRM) and Environmental Performance (EP)

Ashish Mathur, Mannat Singh, Sona Vikas — Sun, 30 Jun 2024 00:00:00 +0000

Given the current context of limited financial resources and an intense international scenario, it is crucial that all investments, particularly those aimed at advancing environmental objectives, undergo rigorous scrutiny in terms of openness. Currently, Corporate Social Responsibility (CSR) initiatives place significant emphasis on environmental sustainability. Green practices have become the norm of the day. These extend to the human resource function as well. By utilizing green practices in human resource management, accurate predictions of Environmental Performance (EP) can be generated. The utilization of bibliometric analysis was employed to examine the current status of research on GHRM (Green Human Resource Management) and EP (Employee Performance) over a period of ten years from 2014-2024, with the aim of identifying areas where there is a lack of information. This bibliometric review examined scholarly literature on the subject of Green Human Resource Management (GHRM) and its utilization of strategies to enhance environmental performance. The inquiry on the performance based on environment and green human resource management analyzed a total of seventy-one Scopus publications. Citation and co-citation techniques were employed to ascertain the publications that have been cited most frequently in the database. Additionally, a network analysis of keywords was conducted using the VOS Viewer software.

A Cross-sectional Study of Ex-Servicemen Perception and Satisfaction on their Resettlement Institutional Infrastructure in India

Prajala Rai, Ravi Shekhar visha, B. Muthu Pandian — Sun, 30 Jun 2024 00:00:00 +0000

In the armed forces, more than 60,000 Ex-Servicemen retire from their services every year and need resettlement-related support to adapt to civilian work life. Several institutions provide resettlement and welfare-related assistance to the Ex-Servicemen. Does the assistance and training provided by the resettlement institutions fulfil the employability expectation of the Ex-Servicemen? Against this backdrop, the study adopts the five-point Likert scale summative score to measure the perception and level of satisfaction of Ex-Servicemen relating to their resettlement institutional infrastructure. In addition to the above, discover an association and identify the significant variation in their satisfaction levels based on the retirement rank and registration status. The major findings highlight that the majority of the Ex-Servicemen are not satisfied with the services provided by the resettlement institutions, and there is a significant association between their level of satisfaction and retirement ranks. Similarly, it exhibits that their satisfaction scores on resettlement institutional infrastructure significantly vary based on their retirement ranks.

Performance Evaluation of Select State-Level Public Sector Enterprises-An Integrated AHP-VIKOR Approach

Resham Kaur Bhambra, Sanjay Dessai — Sun, 30 Jun 2024 00:00:00 +0000

Public Sector Enterprises are the backbone of a developing economy. These enterprises are established to play a dual role in the economy, bringing economic growth and social development. Thus, periodic evaluation of the performance of these enterprises is significant for the success of the enterprises as well as for the economic plans as both are interdependent. The common practice of judging the performance of public enterprises based on financial performance cannot justify its performance due to its multiple conflicting objectives. Thus, focusing on the multi-dimensional performance evaluation approach for public sector enterprises is imperative. The present study contributes in this context with a two-staged integrated MCDM-based methodology to evaluate the performance of State-level public sector enterprises. In the first stage, the AHP analysis is applied to generate criteria weights and in the second stage, the VIKOR analysis is carried out using the criteria weights for comparative performance analysis to rank the enterprises based on their performance. The study illustrates the methodology with a notional example of select state-level public sector enterprises. The AHP-VIKOR duo is found effective in the performance-based ranking of the firms and augments the objectivity of the concept of performance evaluation.

Emotional Labour: A Bibliometric Analysis and Implications for Future Research

Renuka Kapoor, Vishal Kamra, Poonam Khurana — Sun, 30 Jun 2024 00:00:00 +0000

This study aims to review the diversified and extant literature on sustainable finance and the performance of financial institutions using the Bibliometric and Theories, Contexts, Characteristics, and Methodologies (TCCM) framework by selecting quality papers from the Scopus and Web of Science databases. The study shows that sustainable financing and financial institutions’ performance is an emerging field of study, gaining momentum in emerging economies. The study presents top authors and journals, most productive countries, co-occurrence of keywords, and co-citation network by conducting bibliometric analysis. The study investigates major theories, methodologies, and independent and dependent variables used by the studies along with the context of the study. The study concludes that sustainable practices, sound relationships with all stakeholders, financial and non-financial information disclosure, and sound management practices enhance financial institutions' sustainable performance. The study will be a helpful yardstick for financial institutions' policymakers, regulators, and executives in their institutions' policymaking, regulation, and efficient operations. The study will motivate a business person to follow sustainable practices in their business. Besides, the study will be useful for the researcher and academicians in identifying future research discourse.

A Study of Motivators Impacting the Purchase Intention of Refurbished Electronic Goods: An Empirical Investigation of Generation Z

Shweta Bansal, Sadaf Siraj, Syeedun Nisa, kajal Mittal — Sun, 30 Jun 2024 00:00:00 +0000

This study analyses the motivators influencing Generation Z’s intention to purchase refurbished electronic goods, a critical aspect of achieving SDG 12 for responsible consumption and production. Using the extended Theory of Planned Behaviour (TPB), the research integrates perceived benefits (PB), product knowledge (PK), and perceived risk (PR) to examine their impact on purchase intention (PI). Data from 215 students across three Indian universities were analysed through Structural Equation Modelling with Smart PLS 3.0. Findings indicate that purchase attitude (PA), perceived behavioural control (PBC), subjective norms (SN), PB, and PR significantly influence PI for refurbished electronics. Surprisingly, PI is not significantly impacted by the PK. Attitude emerged as a significant mediating variable affecting PI for refurbished electronic goods. This research is among the pioneering empirical studies focusing on Gen Zs motivations in the context of refurbished electronics, a sector ripe for growth yet underexplored in academic literature. Unlike studies on broader sustainable consumption, this paper uniquely addresses the intersection of TPB with additional constructs specific to refurbished goods. The insights are valuable for companies in shaping business models and marketing strategies that highlight the benefits and mitigate the risks associated with refurbished products. For policymakers, the findings support initiatives to foster sustainable consumption and contribute to achieving net zero carbon emissions by 2050. Overall, the study’s focus on a significant and emerging market segment enhances its relevance to sustainable economic practices and consumer behavior literature. This study underscores refurbished electronics’ potential to transform consumption patterns, aligning with SDG 12 goals.

THE IMPACT OF BOND RATING SHOCKS ON MARKET AND FIRM PERFORMANCE IN INDIA

Vibhuti Vasishth, Sanjay Sehgal — Sun, 30 Jun 2024 00:00:00 +0000

This study attempts to analyse the intensity and impact of credit rating shocks experienced by bond instruments in the Indian market. We work on monthly data on credit ratings assigned by three major credit rating agencies in India- CARE, CRISIL and ICRA. Based on significant rating changes in a single rating revision, we construct the Reputational Shock Index for downgrades, upgrades and overall rating revisions. These indices are built for individual rating agencies and at the aggregate level. Using event study methodology, we aim to analyse the impact of bond rating shocks on firm and market returns. The effect of rating shocks on stock markets can be explained by two prominent theories- The information signalling hypothesis and the Wealth Redistribution Effect. The market-level event study analysis highlights the dominance of the information signalling effect as a negative (positive)
response is observed towards downgrades (upgrades) in most cases. The firm-level event study analysis results show a mixed reaction of investors to downgrades and upgrades, but the information signalling effect dominates. The study focuses on the Indian market. Such work can also be extended to other markets to assess the efficiency of credit rating agencies and the market response to rating errors. We recommend the construction of the Reputational Shock Index at the agency and aggregate levels. Our work has important policy implications for bond issuers, credit rating agencies, investors, market regulators, and academicians. The study is unique in constructing the Reputational Shock Index and performing event study analysis at the firm and market level.

Do ESG Indices across BRICS enjoy any dynamic relation: Empirical analysis using VARMA-GARCH Spillover Approach

RAKESH SHAHANI, Aishwarya Badaik, Arpit Mishra — Sun, 30 Jun 2024 00:00:00 +0000

The present study investigates the causal and spillover dynamics concerning ESG indices across four BRICS nations to understand the responsiveness of these nations towards Green Finance and Green Economy, a collective vision of the BRICS nations. The study covers five years, from April 2018 to March 2023, and closing price data has been collected from the MSCI ESG Leaders Index Series for four BRICS nations. Brazil, India, China, and South Africa. The model employed was the VARMA-GARCH Spillover Model, where spillover was measured through residuals. The model measures both mean and volatility spillover across BRICS for three BRICS economies, viz. South Africa, China, and Brazil, the variant used was VARMA (1,1) -GARCH (1,1), while for India, the model VARMA (1,2)-GARCH (1,1) was considered. The additional MA term for India was warranted to make the Spillover model for India free from serial correlation. The study also tested for causality, and with all variables being I(1) stationary, the model selected was Toda and Yamamoto (1995) modified ‘F’ causality. The model diagnostics considered for the study included ARCH effects and Serial Correlation. Amongst the study results, mean spillover was not seen. However, the volatility spillover from both India and China towards South Africa and again from India towards China was seen in the study results. No other spillover was noticed amongst any other BRICS nations. Further, ARCH and GARCH terms of all the countries in the volatility equation were added to <1, showing persistence to go away over time. All the variables were stationary at I(1), as seen from the ADF breakpoint unit root test. The causality results showed unidirectional movement from ESG India to ESG China and ESG Brazil indices. The results do not give any concrete evidence of any collective responsiveness of the four BRICS nations towards Green Finance. Leaving apart select volatility spillovers towards South Africa, the integration through spillover concerning ESG indices appears somewhat limited. These results somewhat contrast with a study by Rehman et al. (2021), where they noticed integration among ESG indices for BRICS nations

Sustainable Financing Practices and Financial Institutions’ Performance: A Systematic Literature Review

Ramkrishna Chapagain, Amit Kumar Singh, Rohit Kumar Shrivastav — Sun, 30 Jun 2024 00:00:00 +0000

This study aims to review the diversified and extant literature on sustainable finance and the performance of financial institutions using the Bibliometric and Theories, Contexts, Characteristics, and Methodologies (TCCM) framework by selecting quality papers from the Scopus and Web of Science databases. The study shows that sustainable financing and financial institutions’ performance is an emerging field of study, currently popular in developed countries and slowly gaining momentum in developing economies. The study presented top authors and journals, most productive countries, co-occurrence of keywords, and co-citation network by conducting bibliometric analysis. The study investigated major theories, methodologies, and independent and dependent variables used by the studies along with the context of the study. Finally, the study concludes that following sustainable practices enhances financial institutions' sustainable performance. The study will be a useful yardstick for financial institutions' policymakers, regulators, and executives in the policymaking, regulation, and efficient operations of their institutions. Besides, the study will be useful for researchers and academicians in identifying future research discourse.