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The objective of writing this case study is to allow management students to engage with the complexities of mergers and acquisitions (M&As) in the insurance sector in an emerging economy like India. Upon completion of this case study, the students will be able to critically evaluate the business environment of the insurance sector of a developing economy like India, analyse the impact of M&As on the insurance industry of India, appraise the post-merger consequences and strategies to deal with these consequences, assess the applicability of market power and growth theories in the context of M&As and develop a strategic action plan for handling post-merger challenges.

On 3 September 2021, the Insurance Regulatory and Development Authority of India (IRDAI) approved the “Scheme” related to the merger of the non-life insurance division of Bharti AXA General Insurance Company Limited (“Bharti AXA”) with ICICI Lombard General Insurance Company Limited (“ICICI Lombard”). Earlier, on 21 August 2020, the boards of the companies had approved entering into definitive agreements through a scheme of arrangement. The merger received approvals from different regulatory bodies as mandated (Gandhi et al., 2023). Bhargav Dasgupta, managing director and Chief Executive Officer of ICICI Lombard, stated, “This is a landmark step in the journey of ICICI Lombard, and we are confident that this transaction would be value accretive for our shareholders” (FE Bureau, 2020). However, the merger posed a dilemma for Dasgupta and the management regarding crop insurance owing to its impact on profitability. Crop insurance historically had high claim ratios nearing 135% for ICICI Lombard for financial year 2018. The company ceased to underwrite this product from 2019 onwards (TNN, 2019). However, ICICI Lombard had to fulfil the three-year commitment made by Bharti AXA to the state governments of Maharashtra and Karnataka towards crop insurance. It was a scheme initiated by the Government of India, covering farmers against losses due to cyclonic rains, rainfall deficits and other unforeseen calamities. Dasgupta faced a challenge in managing the interests of the farmers and the company’s shareholders while balancing profitability, which had already been impacted by the COVID-19 pandemic. This case study delves into post-merger complexities in the financial sector non-life insurance industry in emerging countries like India.

This case study is suitable for undergraduate and post-graduate management students and executives from the insurance industry.

Teaching notes are available for educators only.

CSS 11: Strategy.

The purpose of this paper is to recognise and provide an approach to estimate the value of an institution that produces a public good to the wealth of a nation. Specifically, the authors value utilitarian justice.

The paper employs the classical economic theories of crime and shadow pricing to estimate the total economic value and shadow prices or social productivity of police and higher court deterrence. These measures are estimated using the definitions provided by Dasgupta and by re-engineering key deterrence elasticity estimates gleaned from Australian econometric studies.

The empirical findings suggest a relatively high social value for police and higher court deterrence. Notwithstanding, addressing socio-economic disadvantage is likely to prevent more subsequent offences than directing more resources to the operation of the criminal justice system.

The key limitations involve the sensitivity of the estimates to error. Further work is required on all the estimates in the model and in particular the social costs of the serious offences. The next step is to estimate the opportunity cost of supplying police and court deterrence. The cost estimate can then be combined with the estimates of social benefits to estimate a benefit-cost ratio. The model in broad terms demonstrates a way forward to estimating the economic value of and the social productivity of the criminal justice system. The provision of retributive justice is also ignored in this contribution. This requires a separate analysis.

The social implications are that there appears a way to both justify and evaluate the criminal justice system and this methodology may be applied to the operation of other public services.

The originality of this paper lies in suggesting a method to solve the valuation problem for the jointly produced public goods of the higher courts and police.

Indian Bank, a major commercial bank in South India, has launched Rural Credit Franchisee (RCF) model for lending money to small borrowers in villages. The study aims to study the business model, the profile of ultimate borrowers and their credit requirements and to study the economics of the model.

Data used for the study are mostly primary in nature collected from the RCFs and the rural borrowers. In addition, bank officials were interviewed and also data on loan accounts of RCFs were collected from the sample bank branches and the RCFs.

The RCF scheme is a novel micro finance scheme and it has showcased that the informal institutions can be linked with the formal credit institutions. The scheme has benefited all the stakeholders including the bank, the RCFs and the rural poor.

The study has covered majority of the RCFs of the bank in terms of number and volume of business under the scheme and hence the results indicate the performance of the entire portfolio of the bank under the scheme.

The study finds that the scheme has benefited all the stakeholders. It has particularly helped in creating competition amongst the rural moneylenders and thereby bringing down the cost of credit in rural hinterlands. Findings are strongly in favour of expanding/replicating the model by the other commercial banks and in all parts of the country, rather across the entire world.

The RCF model is one of its kind and the policy makers and regulators may encourage the scheme in order to attain inclusive economic growth. This is a first of its kind study investigating the operation of such a model.

Job embeddedness is considered crucial for organizational success, as it promotes social capital and helps to reduce turnover. A holistic review of job embeddedness remains elusive despite gaining researchers' and practitioners' attention. Therefore, this study aims to synthesize the past literature to understand the concepts and emerging themes in the domain. Further, it helps identify future research avenues and proposes a comprehensive conceptual framework.

The study used bibliographic data of 263 Scopus-indexed publications from inception, i.e. 2001 to 2021, which were subsequently analyzed using diverse bibliometric and content analysis (TCCM) framework and software like Microsoft Excel, Vosviewer and “Biblioshiny” package in R language.

The study analyzes the domain via performance analysis which sheds light on the increasing publication trends and different significant contributors (authors, publications, countries, journals and universities). Science mapping techniques such as keyword analysis identifies author keyword evolution and trends. The content analysis showcases the dominance of diverse psychological theories applied in the domain. Also, the bibliographic-coupling analysis highlights major clusters and associated research publications. The study provides future research avenues, followed by a conceptual framework highlighting the antecedents, moderators and outcomes of job embeddedness.

This study is the first bibliometric and content analysis exploring job embeddedness and will aid in developing a comprehensive understanding of the research topic.

Compared to their counterparts in developed economies, businesses established in emerging economies continuously struggle due to resource and time constraints. Open innovation (OI) allows these firms to bridge the gap and advance towards technological advancements; however, the scholarly knowledge on the subject is not systematized. Thus, this study synthesizes the extant literature, proposes a framework and highlights future research avenues for domain advancements.

Based on the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) framework, the study evaluates 79 journal publications from Scopus and Web of Science (WoS). The bibliometric analysis highlights annual publication trends and research clusters, whereas TCCM analysis provides deep analysis into applied theories, context and characteristics, i.e. OI–performance linkage, barriers, mediators and moderators, followed by employed methodologies in the domain.

The bibliometric results showcase a rising publication trend, significant research clusters and trends, whereas the content analysis via TCCM framework identifies theories, contexts and methodologies employed in the domain. In terms of characteristics, the OI–performance relation and barriers at diverse levels, followed by the moderating and mediating mechanism, are further explained in detail.

This is the first study to examine OI and firm performance in the context of emerging economies and employ rigorous frame-based bibliometric and content analysis measures, establishing the foundations for a comprehensive understanding.

Despite technological advancements to enhance patient health, the risks of not discovering the correct interactions and trends in digital health are high. Hence, a careful policy is required for health coverage tailored to needs and capacity. Therefore, this study aims to explore the adoption of a cognitive computing decision support system (CCDSS) in the assessment of health-care policymaking and validates it by extending the unified theory of acceptance and use of technology model.

A survey was conducted to collect data from different stakeholders, referred to as the 4Ps, namely, patients, providers, payors and policymakers. Structural equation modelling and one-way ANOVA were used to analyse the data.

The result reveals that the behavioural insight of policymakers towards the assessment of health-care policymaking is based on automatic and reflective systems. Investments in CCDSS for policymaking assessment have the potential to produce rational outcomes. CCDSS, built with quality procedures, can validate whether breastfeeding-supporting policies are mother-friendly.

Health-care policies are used by lawmakers to safeguard and improve public health, but it has always been a challenge. With the adoption of CCDSS, the overall goal of health-care policymaking can achieve better quality standards and improve the design of policymaking.

This study drew attention to how CCDSS as a technology enabler can drive health-care policymaking assessment for each stage and how the technology enabler can help the 4Ps of health-care gain insight into the benefits and potential value of CCDSS by demonstrating the breastfeeding supporting policy.

This paper presents the defects that occur during the assembly and manufacturing of solder joints in single‐sided insertion‐mount printed wiring boards (PWBs). Each type of defect is discussed, with particular focus on how these defects are related to solderability issues, the mechanisms of failure due to defect‐induced failure accelerators, and the effect of the defect on solder joint reliability.

This paper aims to explore the consumers’ and service-providers’ perspectives on the factors influencing adoption of e-services in rural India. The purpose is to enable better diffusion of technology for societal development in this digital era.

Using qualitative-based multiple-participant interviews, this study explores the factors affecting e-service adoption from two different perspectives. While interviews were conducted in five villages with 14 respondents to find out the perspectives of the consumers, this study also explores the service-providers’ perspectives through interviews conducted among 11 managerial respondents.

Catering to personal needs, improving perceived usefulness, value-added options, data analytics for better understanding customers and improving service delivery of the e-service are the major factors identified by the service-providers. The study also concludes that convenience, compatibility, societal influence and availability of value-added addition of the e-service are decisive in e-service adoption from the perspectives of the consumers.

The first limitation of this research is that there can be common method bias. Second, there were overlapping themes.

This study can help researchers working on the adoption of e-services in under-developed/developing countries. The findings of this study may help industries to focus on the determinants while designing the e-services for improving their rate of adoption.

This study will help in better diffusion of e-services in rural areas, which in turn will help in societal development in this digital era.

The focus is on societal development through the adoption of e-services in rural areas. To the best of the knowledge of the researchers, no qualitative study has been performed to capture the perspectives of both the service-providers and the consumers on the adoption of e-services in India.

This paper empirically provides information on community-driven infrastructure provision through the collective efforts of community-based organizations (CBOs). It offers an insight into emerging events on community-based infrastructure procurement, scholarship and, creating gaps for new frontiers of knowledge on community development research agenda in the emerging economies.

It is drawn upon community-based associations, herein referred to as landlords-landladies community association (LLCAs) – representatives of households in the communities. After interviewing the key members of the groups, we administered copies of the semi-structured questionnaire randomly on the enumerated regular members of sampled seventeen LLCAs. Data were analyzed using descriptive and inferential statistics.

Planning for a sustainable community, protection and security necessity and Government inadequate attention on emerging communities over the years are the main reasons for the joint decision. Electrification, drainage and road top the lists of the projects executed. Major challenges included diversity and inclusiveness. Development projects' design, execution and commission contribute to performance. Also, LLCAs' clarity of duties and purposes and tenure/duration of officials contribute to the overall membership satisfaction on governance structure and leadership.

It is limited to the specific reasons for collective efforts, challenges of the participatory movement, membership satisfaction on governance and infrastructure recently procured in the communities. Frontier of studies should be extended to enabling factors.

Findings from this study indicate that community-driven governance with the support of the government enhances community-based infrastructure.

Potential values of collective action embellished in the concepts of a social movement, active engagement, communalism, grassroots efforts, social cohesion and planning in bringing peoples of diversities together for common goals with less rigorous formalization.

The novelty of the research is the exposition on the evidence-based innovative concept of integrating the social practice of participatory design, representing a bottom-up model into infrastructure procurement in community settings.

The purpose of this paper is to investigate the role of the “Big Five” personality traits (extraversion, openness, agreeableness, conscientiousness and neuroticism) on the adoption of augmented reality (AR), with a particular focus on the role AR may play in interactive marketing.

A quantitative-based approach was followed by a questionnaire survey, which was completed by 230 respondents comprising graduate and postgraduate students, using structural equation modelling.

While the trait of openness was positively associated with the perceived ease of use of AR, the usefulness of AR and subjective norms, the trait of neuroticism was negatively associated with the perceived ease of use of AR. Extraversion was positively associated with subjective norms. Perceived ease of use of AR, the usefulness of AR and subjective norms were positively associated with attitudes toward AR.

The data gathered will add a valuable contribution to the currently limited data available on empirical consumer behaviour research, particularly in relation to the adoption of AR for interactive marketing.

The findings of this study will benefit academics working on the adoption of technology in rapidly developing fields such as automation and artificial intelligence; the study also contributes to the emerging interdisciplinary domain of psychology, information systems, marketing and human behaviour.