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Renewable energy sources such as solar photovoltaic (PV) and wind are ubiquitous because of their lower environmental impact. Output from solar PV and wind turbines is unstable; hence, this article aims to propose an effective controller to extract maximum available power.

By focusing on the varying nature of solar irradiance and wind speed, the paper presents the maximum power point tracking (MPPT) technique for renewable energy sources, and power regulation is made by the novel inverter design. Moreover, a DC–DC boost converter is adopted with solar PV, and a doubly fed induction generator is connected with the wind turbine. The proposed MPPT technique is used with the help of a rain optimization algorithm (ROA) based on bi-directional long short-term memory (Bi-LSTM) (ROA_Bi-LSTM). In addition, the sinusoidal pulse width modulation inverter is used for DC–AC power conversion.

The proposed MPPT technique has jointly tracked the maximum power from solar PV and wind under varying climatic conditions. The power flow to the transmission line is stabilized to protect the load devices from unregulated frequency and voltage deviations. The power to the smart grid is regulated by three-level sinusoidal pulse width modulation inverter.

The methodology and concept of the paper are taken by the author on their own. They have not taken a duplicate copy of any other research article.

The typical corporation is based on free capital markets, and in general, on the free market capital system for all its factors of production, distribution, and consumption. Hence, this chapter studies the economic, legal, ethical, and moral goodness and promise of the Free Enterprise Capitalist System (FECS) as it exists and thrives in the open and free economies of the world. We will review several versions of FECS starting from Thomas Aquinas (1225–1274) views on private property, Thomas Hobbes’ (1588–1679), The Leviathan (1651), Adam Smith (Wealth of Nations, 1776), Max Weber (The Protestant Ethic and the Spirit of Capitalism, 1904/1958) to modern defenses of capitalism by David Bollier (Aiming Higher, 1997), Raghuram Rajan and Luigi Zingales (Saving Capitalism from Capitalists, 1998, 2004), C. K. Prahalad (2005) on Inclusive Capitalism, Nitesh Gor (The Dharma of Capitalism, 2012), and John Mackey and Raj Sisodia (Conscious Capitalism, 2014), to name a few. Based on these seminal authors and subsequent theoretical developments, this chapter seeks to defend, save, and uphold the goodness of the FECS along multiple viewpoints such as economics, management, law, ethics, morals, and executive spirituality.

This chapter explores the concept of ‘dharma’ (duty orientation) and ‘karma’ (action orientation) of corporate social responsibility (CSR) from Vedantic (Vedanta) viewpoints. Islam, Buddhism and Christianity have received wider attentions in the CSR literatures from philosophical and religious perspective. However, Vedanta is yet to be explored in the context of CSR. This chapter therefore is timely and fills the gap in the CSR literature.

In this chapter, the authors employ hermeneutics, a qualitative research methodology which involves the study, understanding and interpretation of religious texts of Vedanta particularly the ‘dharma’ and ‘karma’ in the context of CSR.

In a nutshell, the Vedanta provides an inside-out approach to CSR, which is development of the individual leader’s self-conscience. The leaders and the role they play in corporations are crucial in ensuring transparency, good conduct and governance towards the ultimate aim of achieving CSR.

This chapter analyses the Vedantic perspectives on communication in establishing CSR objectives. It investigates the problems and prospects of Vedantic style of communicating CSR.

Religion and culture can influence ethical behavior in business. It is suggested that there has been and continues to be, a deep interrelationship between religion, business ethics, and economic activity in India. As India is becoming a major global economic business partner, understanding its unique ethical business infrastructure is gaining in importance. The purpose of this paper is to intend to further the understanding of Indian (“Vendantic”) business ethics, as opposed to Greco – Roman business ethics, as the foundation of business culture in India. This paper further elaborates on the evolution of business ethics and its implications on doing business in and with Indian companies.

The authors undertook a conceptual approach in order to understand the evolutionary process of Indian business ethics in a holistic view in order to understand better its workings and effect on business interaction.

The paper explains the constructs of business ethics in India and shows its evolution over time.

This original theoretical paper examines the evolution of Indian business ethics over time in line with environmental changes in the Indian business landscape.

The people of South Asia are deeply religious and all facets of their lives including their endeavours to achieve material advancement are affected greatly by religious beliefs and values. In what ways, and to what extent, non‐economic factors, specifically religious beliefs, affect economic behaviour in any society, is a matter of considerable controversy among economists. The theorists question the advisability of applying non‐economic factors to economic phenomena which presuppose “specialisation”, division of labour and have narrow scope of study. They contend that non‐economic factors lack objectivity for want of rigorous analysis and quantification. Also, cultural factors change but slowly, and thus, in the analysis of the short‐run process of change, these non‐economic factors do not have much relevance. Karl Marx contended that the social and cultural phases of human evolution are the consequence rather than the causes of economic factors. This atomistic conception of social process, is, however, criticised by some social scientists like Schumpeter. They maintain that “economic man” is a myth and that the unity of social life and its inseparable connection with various elements preclude any dissection of concrete reality into political, social, cultural, ethical and economic parts. The indian Planning Commission is cognisant of the inter‐relation between non‐economic factors and economic development. The Planning Commission suggests that:

The chapter explores how gender has been an integral part of the nation building project in post-liberalisation Hindi cinema, popularly, known as Bollywood.

This chapter is based on primary data gathered through interviews with prominent members of the Hindi film industry along with a detailed content analysis of commercially successful post-liberalisation mainstream Hindi films.

It highlights how the representation of gender has been a central axis around which the tension between tradition and modernity has been played out in Hindi Cinema. The construction of Indianness post-liberalisation has questioned gender politics but proposed easy resolutions which fit into the larger nationalist narrative. In doing so, it has used the diaspora as a category to produce a nationalist account which is simultaneously essentialised and transnational in the quest for projecting India’s aspirations on the global platform.

The chapter provides important insights into the role of popular Hindi cinema, often brushed off as frivolous, in contributing to the mainstream discourse on nationalism post-liberalisation.

The purpose of this study is to examine the impact of corporate social responsibility (CSR) expenditure and business responsibility report (BRR) on a firm’s financial performance. Additionally, the study explores whether CSR expenditure and firm performance are related linearly or otherwise. The study also assesses the influence of mandating CSR expenditure on a firm’s performance.

The study is set in India and uses a nine-year data set from 165 companies listed on the Bombay Stock Exchange. Data compilation and analysis are done by using content analysis and panel data regressions.

The main findings of the study are that the effect of CSR expenditure on firm performance in India is non-linear and can be characterized as parabolic for investigated firms. While some performance indicators suggest a U-shaped relationship, others show an inverted U-type pattern, making a definitive conclusion elusive in either direction. BRR scores themselves have a positive impact on firm performance. Mandatory CSR expenditure affects the financial performance negatively, but the market performance improves in general.

The study provides new insights on the relationship between CSR expenditure, BRR scores and firm performance from India, which is not only a notable emerging market but also has other gripping characteristics. It has a prolific history of philanthropy, and yet, it is the first country in the world to mandate CSR expenditure in recent times. The equation between reported economic progress and general quality of life remains intriguing, and yet the number of studies on the effects of CSR expenditure on firm performance are no match to the volume of ongoing and completed works in more developed markets. This study attempts to trim the gap and provide some useful insights for managers, policymakers and stakeholders, apart from prompting further research.

Caste is the basic structural feature of Hindu society; all social scientists are agreed on this. Since Hinduism is generally recognised to be as much a social system as a religion, its social framework embodying caste rituals has governed the lives of the majority of Indians for hundreds of years. Having deep roots in tradition and enjoying sanction in all religious literature belonging to the pre‐British era, caste has been the dominant principle of social organisation since ancient times. In fact, barring the recent past, Hinduism has always been identified in the minds of most Indians with caste observances. Writes R.C. Zaehner: “…until a century or so ago the acceptance of the caste system was considered by the orthodox to be the sole effective criterion of whether one was or was not a Hindu. In matters of belief it mattered not at all whether one believed in one god or many, or not at all, nor did it much matter on how one interpreted ‘liberation’ or whether one rejected it outright so long as one fulfilled the duties prescribed for one's caste.”

Both researchers and policy makers have increasingly focused their energies in exploring the sources of economic growth. The purpose of this paper is to explore the very first ideas on the sources of economic growth of Kautilya during the fourth century BCE.

Kautilya's non‐technical statements on economic growth are presented as a formal model of economic growth.

Kautilya believed that institutions are a prerequisite to economic growth and good governance, knowledge, ethical conduct and economic growth are interdependent. That is, Kautilya believed in the virtuous cycle of economic growth.

Kautilya's model of virtuous cycle implies that Kaufmann and Kraay specify an incorrect model to test the virtuous cycle model of economic growth.

Although it is a challenge to empirically estimate Kautilya's model if estimated appropriately, it could help in partitioning the Solow residuals into contributions made by technical progress and good governance towards economic growth.

The paper amounts to rewriting the history of economic thought.

This chapter has two major objectives. It discusses the political leadership in Thailand in terms of historical development and examines the role adaptation of Thai elites in order to respond to different demands from various sectors in the society. The chapter concludes that political leaders have to adjust their roles to cope and to survive. Apart from the old bureaucratic elites, both military and civil, there are also some other stakeholders who have become stronger over time, making more demands on political leaders (and, consequently, on the state apparatus). In reaction to these stakeholders, political leaders have used public administration reforms and initiated public policies to gain more capacity to lead.