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The purpose of this paper is to examine the impact of bankruptcy reform in the year 2016 on the relation between leverage and firm performance for Indian firms, separately for business group and standalone firms.

Fixed effects panel regression is used to understand the role of bankruptcy reform on firm-level data to examine the relationship between leverage and firm performance after controlling for size, growth, age, liquidity and promoter shareholding. The authors also apply the generalized method of moments (GMM) to control for the endogeneity concerns.

The authors show that the introduction of the insolvency and bankruptcy code (IBC) positively moderates the relation between leverage and firm performance such that the extent of negative relation between leverage and firm performance is less in the post-IBC period. The positive impact of IBC on the relation between leverage and firm performance holds only for firms not affiliated to business groups and for firms with higher debt in their capital structure.

The study’s findings will help the regulators appreciate the effectiveness of bankruptcy reforms resulting from IBC implementation in terms of sound bankruptcy process and leading to safeguard the interests of minority shareholders.

The authors provide the only study to examine the role of bankruptcy law in moderating the relation between leverage and firm performance across a sample of business group and standalone firms.

The purpose of this study is to examine the differential impact of qualitative and quantitative informational signals within the merger and acquisition (M&A) press releases on deal completion and duration. A significant percentage of deals by emerging market acquirers get abandoned before completion, and those that are completed have a longer duration. The limited information about the operations of acquirers from emerging markets creates suspicion among the stakeholders involved in deal resolution, hindering the completion of deals. Thus, using the signal-feedback paradigm, authors investigate how informational signals in the M&A press release impact the deal resolution.

The study employs content analysis on M&A press releases announced by firms from five emerging economies: Brazil, Russia, India, China and South Africa. The technique is applied based on the exploration-exploitation framework developed by March (1991) to categorize the announced deal motives (qualitative information). Next, the authors identify the percentage of relevant quantitative information disclosed in the press release, following which results are obtained using logistic and ordinary least square regressions.

The study reports that deals with declared exploratory motives take longer to complete. Additionally, deals disclosing higher percentage of quantitative disclosure exhibit lower completion rate and increased deal duration.

This is the first study to provide evidence that familiarity bias impacts deal duration as relative to exploitation deals that are familiar to the stakeholders; exploratory deals take longer to conclude. Further, our analysis indicates that a greater percentage of quantitative disclosure may not always reduce information risk but rather be interpreted negatively in the form of the acquirer’s overconfidence in the deal’s potential.

In this paper, the authors examine the relation between cross-listing and the noncompliance with the mandatory corporate social responsibility (CSR) expenditure regulation in India, the first country to legally mandate the CSR expenditure.

The authors apply panel logit and ordinary least square (OLS) regression models to examine the impact of cross-listing on the noncompliance with the mandatory CSR expenditure regulation because panel regression has lesser multicollinearity problems and has the benefit of controlling for individual or time heterogeneity mostly present in cross-section or time series data.

Using a sample of 1,027 listed Indian firms, the authors show that the cross-listed firms are more likely to comply with the mandatory CSR expenditure than non-cross-listed firms. The authors further show that this relation holds only for those firms which are exposed to higher agency problems, for firms affiliated to business groups and for firms operating in high litigation risk industries. Finally, the authors show that cross-listed firms complying with the mandatory CSR expenditure command more valuation premiums.

This study’s results suggest that the noncompliance of the Indian firms with the mandatory CSR expenditure regulation comes down once they cross-list their shares in the US or the UK since such firms have to bond to the stronger corporate governance standards of the listed country. Hence, the authors recommend that merely making the investment in CSR activities mandatory may not serve the purpose and the convergence in corporate governance as well as compliance with the CSR expenditure can be achieved through cross-listing in US and UK markets.

One, the authors analyze the effect of cross-listing on the likelihood and magnitude of noncompliance with the CSR mandate. Two, this study is based in India where CSR expenditure has been made mandatory under the Companies Act, 2013. Using CSR mandate as a natural experiment, the authors have access to a richer data set on CSR in terms of the actual expenditure made by the company on CSR activities and the mandatory amount to be spent in a particular year.

The purpose of this study is to examine the impact of mandatory corporate social responsibility (CSR) spending on firm value in the Indian context.

Using firm-level data over the period 2012–2017, this study uses the difference-in-differences (DID) technique combined with matching to control for potential endogeneity of the decision to comply with the CSR Act since the Act in its current form is applicable as a comply-or-explain obligation.

The results of this study suggest that mandatory CSR spending has a positive and statistically significant impact on firm value. These results remain robust to alternative econometric techniques such as regression discontinuity design (RDD) and randomization inference test as well as to alternative empirical specifications. Furthermore, the study demonstrates that the positive effect of CSR spending on firm value is more pronounced for firms with higher information asymmetry problem and lower institutional holdings.

This study explicitly considers the “comply-or-explain” flexibility option, in terms of spending on CSR, provided to Indian firms for the initial two to three years and investigates whether spending on CSR helps firms enhance their firm value. The study also finds that the positive effect of CSR spending on firm value is more pronounced for firms with higher information asymmetry problems and lower institutional holdings.

The climate change and related impacts are experienced around the world. There arise different triggering factors to climate change and impact. The purpose of this study is to figure out how changes in vegetation cover may or may not have an impact to climate change. The research will produce ideas for vegetation preservation and replant.

The investigation was probed for 34 years’ time period starting from the year 1981 to 2015. After testing and checking for serial autocorrelation in the vegetation data series, Mann–Kendal nonparametric statistical evaluation was carried out to investigate vegetation cover trends. Sen’s method was deployed to investigate the magnitude of vegetation cover change in natural differential vegetation index (NDVI) unit per year. Furthermore, the ArcGIS spatial analysis tools were used for the calculation of mean NDVI distribution and also for carrying out the spatial investigation of trends at each specific location within the study region.

The yearly mean NDVI during the study period was observed to have a decreasing trend. The mean NDVI value ranges between 0.32 and 0.98 NDVI unit, and hence, this means from less or poor vegetated zones to higher or healthier vegetated zones. The mean NDVI value was seen decreasing toward the highlands regions. The NDVI-rainfall correlation was observed to be stronger than the NDVI-temperature correlation. The % area coverage of NDVI-rainfall positive correlation was higher than the negative correlation. The % area coverage of NDVI-temperature negative correlation was higher than the positive correlation within the study region. Rainfall is seen as a highly influencing climatic factor for vegetation growth than the temperature within the study region.

This study in this country is a new approach for climate change monitoring and planning for the survival of the people of Papua New Guinea, especially for the farmer and those who is living in the coastal area.

Based on the model of Big-Five personality traits and theories of person–environment interaction, this study aims to investigate the moderating effects of personality traits on innovativeness through knowledge sharing (KS).

A sample of 318 Vietnamese employees was collected. The hypothesized model was tested by using partial least squares structural equation modelling.

The results indicate that extraversion, agreeableness, conscientiousness and openness to experience have relationships with innovativeness through the mediating effect of KS. Furthermore, transformational leadership (TL) mitigates the positive relationship between agreeableness and openness to experience and innovativeness.

Based on the research results, the authors suggest several practical implications for enhancing employees' innovative organizational behaviours. Transformational leaders should be aware of and control the relationships with employees high in agreeableness and open to experience to ensure that employees' innovativeness can be freely developed.

This research systematically investigates the effect of each personality on employees' innovativeness. Furthermore, this study contributes to the leadership literature by suggesting the dark side of TL that can negatively influence the innovative ability of employees with certain personality traits.

To effectively integrate sustainability education into accounting, the needs of stakeholders such as educators, practitioners, regulators, students, and politicians must be considered. While existing literature reflects their separate perceptions, this study considers their influence on the integration process. Sustainability accounting can play a key role in supporting sustainability practices, which businesses need to be accountable for. This study focuses on how sustainability accounting education can improve corporate sustainability practices. However, most existing studies only consider one stakeholder group, and there is a gap in literature on sustainability accounting education in developing countries, particularly in the Middle East. This study informs future researchers about various research gaps in sustainability education.