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The purpose of this paper is to examine the relevance of information, transparency and information efficiency in short-run performance of new issues. The current research evaluates the short-run performance of IPOs during 2005-2012, which even includes the recessionary period. The present study evaluates the impact of informational variables on first-day returns.

The short-run performance of the IPOs is measured through market adjusted excess return. A structural equation model (SEM) has been designed to identify how information influences the short-run performance of IPOs.

The results of structural model reveal that the sale of promoters’ stake and underwriters’ reputation are the major contributors towards information and are found to be highly significant statistically. The model also shows that the issue size (a component of information) is statistically insignificant at 5 per cent. The model suggests that the availability of information has negative impact on the first day returns indicating that the issuer which disclose maximum information to the public get lower returns on the listing day and hence, their issues are less underpriced.

The present study has a contribution in investment decisions for global investors, as the participation of international investors is common in IPOs of emerging markets. The findings of the study are expected to be useful to the practitioners in predicting the pricing of IPOs based on the informational variables influencing their performance.

The purpose of this paper is to focus on examining the first day returns of initial public offerings (IPOs) and the role of information on their performance. The study tries to optimize the returns of the new issues during 2005-2012 with risk as a constraint.

The initial returns are measured through the market-adjusted excess return and the risk associated with the new issue is measured through underwriters’ reputation. The returns have been optimized through a mixed integer linear problem using the Maple software.

The previous studies show that various informational variables affect the listing day returns significantly. The results of the present study indicate that the mean of initial returns for IPOs during 2005-2012 is 18.03 and the mean risk for these issues is 0.46. The findings also suggest that the optimal returns are obtained in the pre-recession era (2005-2008) and the value for the same is 50.02 percent.

The current study contributes in the investment decisions for global investors as every investor wants to maximize his/her returns. The optimal returns with risk as a constraint will help the investors in improving their investment decision as a prudent investor does not aim solely at maximizing the expected return of an investment but is also interested in optimizing with the minimization of risk.

This study aims to identify and analyse the key determinants influencing customer satisfaction towards online shopping in India.

The literature concerning major attributes of website functionality, perceived usability, perceived usefulness and customer satisfaction in online retailing were reviewed. Data were collected from 365 respondents active in online shopping for examining the constructs. The model was empirically tested using structural equation modelling.

The findings of the study reveal that perceived usefulness and website functionality have a positive impact on customer satisfaction, whereas perceived usability had a significant but negative impact on customer satisfaction.

This research will help online retailers to attract and motivate new customers for online shopping and existing customers to extend it in their daily purchase. Online retailers can improve post purchase satisfaction and eventually increase online customers.

This is one of the preliminary study dealing with customer satisfaction towards online retailing in India. The scale has been extended to include items like satisfaction with cash on delivery mode of payment not included in previous scales. The scale of perceived usefulness has also been deepened by adding time performance, product performance and promotional performance.

Investigates urban bias in state policy making in Mexico. Refers to literature claiming that rural poverty in developing nations is a major problem because capitalism reflects an urban bias. Examines social security coverage for the rural poor in Mexico and notes that there are great variations depending on area, suggesting that social security coverage is politically negotiable. Outlines briefly the historical development of Mexico’s welfare state and uses a power resource model to demonstrate how groups with competing interests go about securing benefits from the state. Cites literature on dependency theory, indicating that rural groups have failed to mobilize politically and have therefore not secured the same state resources (such as social security benefits and housing) as urban groups, yet argues that this does not always apply in Mexico, partially due to party politics and bureaucratic paternalism. Explains how data was collected to examine regional variations in social security coverage among the rural poor and how the data was analysed. Reveal that workers in important international export markets (such as cotton and sugar) have greater political leverage in obtaining better social security benefits. Notes also that areas supporting the political party in power obtain better benefits. Concludes, therefore, that rural workers are not powerless in the face of urban capitalism and that urban bias and dependency theories do not reflect the situation in Mexico – rather social security benefits are politically negotiable.

The purpose of this study is to see if market timing predicts the first reporting of earnings performance after the issue, i.e. the issue-year earnings performance. Furthermore, this study examines the behaviour of financial and non-financial issuers’ performance in the light of varied market timings.

This study focuses on 785 NSE-listed initial public offerings that took place between April 2010 and December 2021. This study evaluates market timing by using moving averages. Using multiple regression analysis, the research further investigates the impact of market timing on issue-year earnings performance for financial and non-financial issuers on the basis of an interaction (moderation) effect.

This study finds that there is a significant presence of market timing in India, which predicts issue-year earnings performance. This study also demonstrates that hot market issuers’ performance is heavily influenced by market timing for non-financial issuers only. However, financial companies are not influenced by market timing.

The findings of this study will assist the potential investors, analysts and stakeholders about performance of public issuers in India. Lower earnings performance for hot market non-financial issuers implies that the issuers’ market performance may not be supported by earnings figures. A market performance that is not synchronous with earnings will not last long. The findings of this study hold implications to the regulators as well to keep an eye on issuers’ earnings performance alongside the stock performance. Apart from that, the observations in context of financial and non-financial issuers provide insight about the variation in performance of public issues on the basis of background.

To the best of the authors’ knowledge, this is the only study to examine earnings performance in the context of market timing in India. This study holds significance in terms of methodology for anticipating the presence of market timing and the study of interaction effects. Moreover, it is one of the few studies that has focused on comparing financial and non-financial issuers around the world.

The purpose of this paper is to ascertain the monthly seasonality in the Indian stock market after taking into consideration the market features of leptokurtosis, volatility clustering and the leverage effect.

Augmented Dickey-Fuller, Phillips-Perron and Kwaitkowski-Phillips-Schmidt-Shin tests are deployed to check stationarity of the series. Autocorrelation function, partial autocorrelation function and Ljung-Box statistics are employed to check the applicability of volatility models. An exponential generalized auto regressive conditionally heteroskedastic model is deployed to test the seasonality, where the conditional mean equation is a switching model with dummy variables for each month of the year.

Though the financial year in India stretches from April to March, the stock market exhibits a November effect (returns in November are the highest). Cultural factors, misattribution bias and liquidity hypothesis seem to explain the phenomenon.

The paper endeavors to provide a review of possible explanations behind month-of-the-year effect documented in literature in the past four decades. Further, the unique evidence from the Indian stock market supports the argument in the literature that monthly seasonality, by nature, may not be a consistent/robust phenomenon. Therefore, it needs to be examined from time to time.

As the seasonality in the stock market and resultant anomalies are dynamic phenomena, the paper reports the current seasonality/anomalies prevalent in the Indian market. This would aid investors in designing short-term investment portfolios (based on anomalies present) in order to earn abnormal returns.

Heritage tourism is an increasingly popular form of tourism that allows individuals to connect with the past and immerse themselves in cultural and historical narratives. Hence, the purpose of this study is to explore the intricate relationships among vicarious nostalgia (VNOS), memorable tourism experiences (MTEXs) and their collective influence on tourists’ behavioral intentions (BINTs). Additionally, this study examines the moderating effect of social return (SN) in the context of heritage tourism.

Data were gathered using a self-administered questionnaire from 259 tourists visiting heritage sites in Jaipur. The proposed model was tested using structural equation modeling.

The results confirmed that VNOS had a significant positive impact on BINT in the context of heritage tourism. The causal relationship between VNOS and BINT was fully mediated by MTEX. The results further verified that the presence of SN strengthens the association between MTEXs and BINT.

This research will guide the firms associated with heritage tourism to target specific cohorts interested in heritage tourism. Policymakers may find it easier to create unique offerings and packages that appeal to visitors interested in historical sites and produce memorable travel experiences. One key implication is to create “social media friendly spaces” at different locations of the sites. To increase tourism, managers may use the findings from this research to create plans for the ethical promotion and protection of cultural and natural heritage sites.

Overall, this research advances the understanding of the role of VNOS in heritage tourism by elucidating its cognitive and emotional aspects and their subsequent influence on the memorability of tourist experiences and BINT s. Additionally, by considering the moderating effect of SN, this study provides a comprehensive view of how these factors collectively shape tourists’ decisions and actions in the context of heritage destinations. This research has been conducted in the heritage city of Jaipur (North-Western India), which, surprisingly – despite its popularity as a heritage tourism site – has not been sufficiently explored in the scholarly research.

This study aims to examine the research pattern and growth trends of published research on a unified theory of acceptance and use of technology 2 (UTAUT2) from 2012 to 2019. The study also examines the research scope of UTAUT2 for future researchers.

This study has adopted a bibliometric approach followed by a structured literature review analysis to synthesize the research on UTAUT2 since 2012. In total, 163 documents were analyzed for type of studies, theories and frameworks, methodologies, author wise collaboration, organizations that contributed to the body of knowledge in the UTAUT2 research and journals that published studies in this domain. VOSviewer and Tableau were used for the data visualization, whereas TCCM, which means theory (T), context (C), characteristics (C) and methodology (M) framework is used to propose the future research directions.

The findings reveal research on UTAUT2 is growing. The structured literature analysis of the top 15 cited articles further analyzed the parsimony of new models in detail. In addition, the study highlights the inception by and promoters of UTAUT2 in a separate section. The data for this study was collected by searching the title, abstract and keywords of documents in the Scopus database.

This study is based on research papers, published in the UTAUT2 research area, that have been extracted from the Scopus database by keywords only. Future studies can also perform a meta-analysis of various clusters generated by bibliometric analysis.

This study is useful for practitioners to devise strategies for increasing technology acceptance, adoption and utilization in the times to come.

To the best of the authors’ knowledge, this study is one of the very few and early studies, which examined patterns and growth trends of the UTAUT2 studies with the TCCM framework, to suggest scope for future research studies.

In keeping with global developments rendering online shopping as an emerging trend among consumers, the present study extends the unified theory of use and acceptance of technology (UTAUT2) comprising the digital payment mode (DPM) as a new driver of online shopping and with the mediation of attitudes toward technology (ATTs) to gauge a better and deeper understanding of behavioral intention (BI).

This study used a survey instrument with snowball sampling from 600 consumers in northern India. Partial least squares structural equation modeling was used to find the association between drivers using UTUAT2, along with DPM and ATTs. The data were divided into a test group (20%) and validated through a training group (80%).

DPM was shown to be directly associated with BI. The mediation of ATTs was also validated through the model. The predictability of the model was 67.5% for the test group (20%) and 69.6% for the training group (80%). The results also indicated that facilitating conditions is a critical driver of BI.

This study enhances the understanding of the roles that DPM and ATTs play in BI during online shopping, suggesting that Indian managers need to adopt DPM as a support service to make online shopping a worthwhile experience.

Solar energy applications are limited because of its intermittent and discontinuous availability with respect to time. Hence, solar energy thermal conversion systems need integration with thermal storage units (TSUs) to use solar energy in off sunshine hours. This paper aims to perform thermal analysis of a solar air heater (SAH) integrated with a phase change material (PCM)-based TSU to supply hot air during night period.

An experimental setup with TSU as main component was prepared with SAH at its upward side, food chamber at its downward side as subcomponents. In TSU, paraffin wax was used as thermal energy storage material. Mass flow rate of air considered as an input parameter in the experiment. Two different absorber plates, namely, plane and ribbed absorber plates were used for the experimentation. Each day for a fixed mass flow of air, observations were made during charging and discharging of PCM.

Nusselt number and convection heat transfer coefficients were analytically calculated by considering flow through TSU as external flow over bank of tubes in a rectangular duct. A temperature drop of around 7-8°C during charging of PCM and temperature rise of around 4-5°C during discharging of PCM was observed from the experimental results. The average practical efficiency of TSU with ribbed absorber plate SAH during charging and discharging of PCM was 22 and 6 per cent, respectively, higher than that of TSU with plane absorber plate SAH.

There are no limitations for research on SAH integrated with TSU. Different PCM including paraffin wax, Glauber’s salt, salt hydrates and water are used for thermal storage. Only limitation is lower efficiency of SAH integrated with TSU because of lower heat transfer coefficients with air as working medium. If it can improve heat transfer coefficients of air then heat transfer rates with these units will be higher.

There are no practical limitations for research on SAH integrated with TSU. Sophisticated instrumentation is needed to measure flow rates, temperatures and pressure variations of air.

In poultry farms during night, chicks cannot survive at cold climatic conditions. Hence, hot air should be supplied to poultry farms whenever the atmospheric temperature drops. It is proposed that, in combination with TSUs, heat produced by SAH is stored in day time in the form of either sensible or latent heat and is retrieved to provide hot air in the night times. This will reduce total operating costs in poultry farms.

Conventionally, people are producing hot air by combusting coal in poultry forms. This cost around Rs. 75,000 per month for a batch of 225 to 250 chicks in a poultry form. Hot air could be produced economically during off sunshine hours from SAH integrated with TSU compared to the conventional method of coal burning. Present experimental investigations conducted to fill the literature gap in this area of research and to design a SAH integrated with TSU to produce hot air for poultry forms.