Search results
1 – 10 of 196This study aims to explore the adoption of enterprise risk management (ERM) in developing and developed countries. Is there a similarity or difference between the two contrasting…
Abstract
Purpose
This study aims to explore the adoption of enterprise risk management (ERM) in developing and developed countries. Is there a similarity or difference between the two contrasting institutional markets and the reasons behind them?
Design/methodology/approach
The adoption of ERM is analyzed on the basis of the institutional framework. The author draws empirical evidence by comparing the cases of a British and an Indian insurance company using evidence from multiple sources. This paper focuses on extra-organizational pressures exerted by economic, social and political situations across two countries that influenced the adoption decision of ERM.
Findings
The findings of this research revealed that early adopters of ERM in different institutional markets face coercive and normative pressure but not mimetic pressure. The adoption of ERM in India and the UK is dissimilar. Companies in the British insurance market encounter higher institutional forces than those in the Indian market because of higher coercive and normative pressure. The aspirations to adopt ERM in the Indian and UK markets included improved strategic decision-making to maintain stakeholder expectations and higher standards of corporate governance. In the UK, ERM was adopted to reduce surprises and fluctuations under flexible regulations but with stricter adoption and to improve credit ratings.
Originality/value
Previous literature has discussed ERM adoption in similar markets or within one market with similar institutional pressure. In contrast, this research is a comparative study that explains the analysis of institutional theory in two different institutional environments in the adoption of ERM.
Details
Keywords
Purpose: This chapter is based on risk management of the insurance sector with reinsurance as its linchpin. Such is the importance of the insurance sector that its risk management…
Abstract
Purpose: This chapter is based on risk management of the insurance sector with reinsurance as its linchpin. Such is the importance of the insurance sector that its risk management must be considered.
Need for the study: Risk management of various sectors is gaining much attention. The insurance sector, known to manage the risk of multiple sectors, also requires its own chance to be controlled with the same or even more intensity. Considering the importance of reinsurance coupled with the dependency of primary insurers on reinsurers and the absence of research on reinsurers, the need to conduct a comprehensive study on the topic is felt.
Methodology: It will be a conceptual chapter based on the rigorous literature on the topic integrated with the researcher’s insights to bring forth the framework of reinsurers for the readers.
Findings: It is found that insurers can themselves become the victims of the financial crisis in case they insure risks that surpass their economic boundaries. Not only this, the failure of insurance companies can have a ripple effect on the country’s economy. Therefore, insurers must possess financial resilience; to remain so, they need to have prudent management of the risk they are undertaking.
Practical implications: The study covers a relatively less researched area of reinsurance and hence has a vast scope of research in the future. The study would be helpful to stakeholders like regulators and primary insurers. It will unveil the paradigm of reinsurance and enlighten the stakeholders on how to use it effectively.
Details
Keywords
Reetika Dadheech and Dhiraj Sharma
Purpose: Preserving a country’s culture is crucial for its sustainability. Handicraft is a key draw for tourism destinations; it protects any civilisation’s indigenous knowledge…
Abstract
Purpose: Preserving a country’s culture is crucial for its sustainability. Handicraft is a key draw for tourism destinations; it protects any civilisation’s indigenous knowledge and culture by managing the historical, economic, and ecological ecosystems and perfectly aligns with sustainable development. It has a significant role in creating employment, especially in rural regions and is an essential contributor to the export economy, mainly in developing nations. The study focuses on the skills required and existing gaps in the handicraft industry, its development and prospects by considering women and their role in preserving and embodying the traditional art of making handicrafts.
Approach: A framework has been developed for mapping and analysing the skills required in the handicraft sector using econometric modelling; an enormous number of skills have been crowdsourced from the respondents, and machine learning techniques have been used.
Findings: The findings of the study revealed that employment in this area is dependent not only on general or specialised skills but also on complex matrix skills ranging from punctuality to working in unclean and unsafe environments, along with a set of personal qualities, such as taking initiatives and specific skills, for example polishing and colour coding.
Implications: The skills mapping technique utilised in this study is applicable globally, particularly for women indulged in casual work in developing nations’ handicrafts industry. The sustainable development goals, tourism, and handicrafts are all interconnected. The research includes understanding skills mapping, which provides insights into efficient job matching by incorporating preferences and studying the demand side of casual working by women in the handicraft sector from a skills perspective.
Details
Keywords
Santi Gopal Maji and Rupjyoti Saha
This study investigates the effect of intellectual capital (IC) and its components on the technical efficiency of Indian commercial banks after controlling the influence of…
Abstract
Purpose
This study investigates the effect of intellectual capital (IC) and its components on the technical efficiency of Indian commercial banks after controlling the influence of bank-specific and macroeconomic variables.
Design/methodology/approach
The study selects a sample of 37 listed Indian commercial banks from 2005 to 2019 and uses the two-step data envelopment analysis (DEA) approach. Banks' technical efficiency scores are first estimated, while the relationship between IC and technical efficiency is examined in the second stage using the panel data Tobit model.
Findings
This study's findings suggest a fluctuating trend in the technical efficiency of Indian banks. Notably, from 2015 onwards, a declining technical efficiency trend is observed for all banks. However, private-sector banks outperform public-sector banks in terms of technical efficiency. This study's regression analysis indicates a positive relationship between IC and banks' technical efficiency scores. Further, by decomposing IC into its components like human capital, structural capital and capital employed, the study's findings show that human capital and structural capital enhance banks' technical efficiency. Notably, capital employed reduces technical efficiency. Moreover, bank size, diversification, capitalization, net interest margin and the country's growth rate significantly drive Indian banks' efficiency. In contrast, their operating cost ratio and the country's inflation negatively influence the same.
Originality/value
This study makes a novel endeavor to examine the IC and bank's technical efficiency nexus in the Indian context, encompassing a period of landmark banking reforms.
Details
Keywords
Ruchi Agarwal and Muhammad Atif
In the last two decades, risk reporting has followed a normative and calculative culture rather than the “materiality” of data. Although integrated reporting (IR) has become…
Abstract
Purpose
In the last two decades, risk reporting has followed a normative and calculative culture rather than the “materiality” of data. Although integrated reporting (IR) has become flooded with extra information, it does not adequately disseminate material information to stakeholders. In addition, the poor tone from the top diminishes creativity. This study aims to investigate how companies creatively address issues of the materiality of risk information in IR and how IR can be aligned with enterprise risk management.
Design/methodology/approach
Qualitative research was conducted via interviews with 50 chief risk officers and senior management executives in the Indian and UK insurance markets.
Findings
Overall, five institutions were observed to exhibit elements of being early adopters of institutional creativity. This confirmed the present study’s theoretical contribution of five divergent types of early adopters. The motivations for creativity are reflected in the resources available to these institutions.
Originality/value
To the best of the authors’ knowledge, this study provides a new insight into IR from internal mechanisms to deal with issue of materiality.
Details
Keywords
Uma Shankar Yadav, Rashmi Aggarwal, Ravindra Tripathi and Ashish Kumar
Purpose: This chapter investigates the current skill gap in small-scale industries, the need for skill development and digital training in micro, small, and medium enterprises…
Abstract
Purpose: This chapter investigates the current skill gap in small-scale industries, the need for skill development and digital training in micro, small, and medium enterprises (MSME), and reviews policies for skill development and solutions.
Need for the Study: While the legislature and organisations have initiated various considerations for the successful implementation of the Skill Development System in the country’s MSMEs, there are significant challenges that must be addressed quickly to fill the skill gap in workers in this digital era.
Research Methodology: Secondary data has been used for the chapter review. Analysis has been done based on review data from women handloom and handicraft workers in the micro or craft industry who received a Star rating from the National Skill Development Corporation (NSDC) partners in Lucknow. For data collection, a questionnaire based on random sampling was used. The data were analysed using a rudimentary weighted average and a percentage technique.
Findings: The studies provide answers to some fundamental problems: are small industry employees indeed mobilised to be skilled outside the official schooling system? Is the training delivery mechanism adequate to prepare pupils for employment? Would industries be willing to reduce minimum qualification criteria to foster skill development?
Practical Implication: Non-technical aptitudes digital and soft skills for workers in this sector should be emphasised in MSMEs, and significant reforms in MSME sectors and capacity-building education and training programmes should be implemented in the Indian industry to generate small and medium enterprises production and employment.
Details
Keywords
Pragati Agarwal, Sanjeev Swami and Sunita Kumari Malhotra
The purpose of this paper is to give an overview of artificial intelligence (AI) and other AI-enabled technologies and to describe how COVID-19 affects various industries such as…
Abstract
Purpose
The purpose of this paper is to give an overview of artificial intelligence (AI) and other AI-enabled technologies and to describe how COVID-19 affects various industries such as health care, manufacturing, retail, food services, education, media and entertainment, banking and insurance, travel and tourism. Furthermore, the authors discuss the tactics in which information technology is used to implement business strategies to transform businesses and to incentivise the implementation of these technologies in current or future emergency situations.
Design/methodology/approach
The review provides the rapidly growing literature on the use of smart technology during the current COVID-19 pandemic.
Findings
The 127 empirical articles the authors have identified suggest that 39 forms of smart technologies have been used, ranging from artificial intelligence to computer vision technology. Eight different industries have been identified that are using these technologies, primarily food services and manufacturing. Further, the authors list 40 generalised types of activities that are involved including providing health services, data analysis and communication. To prevent the spread of illness, robots with artificial intelligence are being used to examine patients and give drugs to them. The online execution of teaching practices and simulators have replaced the classroom mode of teaching due to the epidemic. The AI-based Blue-dot algorithm aids in the detection of early warning indications. The AI model detects a patient in respiratory distress based on face detection, face recognition, facial action unit detection, expression recognition, posture, extremity movement analysis, visitation frequency detection, sound pressure detection and light level detection. The above and various other applications are listed throughout the paper.
Research limitations/implications
Research is largely delimited to the area of COVID-19-related studies. Also, bias of selective assessment may be present. In Indian context, advanced technology is yet to be harnessed to its full extent. Also, educational system is yet to be upgraded to add these technologies potential benefits on wider basis.
Practical implications
First, leveraging of insights across various industry sectors to battle the global threat, and smart technology is one of the key takeaways in this field. Second, an integrated framework is recommended for policy making in this area. Lastly, the authors recommend that an internet-based repository should be developed, keeping all the ideas, databases, best practices, dashboard and real-time statistical data.
Originality/value
As the COVID-19 is a relatively recent phenomenon, such a comprehensive review does not exist in the extant literature to the best of the authors’ knowledge. The review is rapidly emerging literature on smart technology use during the current COVID-19 pandemic.
Details
Keywords
Narayanage Jayantha Dewasiri, Karunarathnage Sajith Senaka Nuwansiri Karunarathna, Mananage Shanika Hansini Rathnasiri, D. G. Dharmarathne and Kiran Sood
Purpose: This chapter aims to unveil the challenges of adopting and using banking chatbots in India and identify the challenges of Chat Generative Pre-trained Transformer…
Abstract
Purpose: This chapter aims to unveil the challenges of adopting and using banking chatbots in India and identify the challenges of Chat Generative Pre-trained Transformer (ChatGPT) for future banking.
Need for the study: Unveiling the challenges of chatbots and ChatGPT in the banking industry in India is crucial to understand the limitations and areas of improvement to enhance customer experience, ensure data security, and maintain regulatory compliance.
Methodology: The researchers conducted a narrative review systematically summarising and analysing existing literature on chatbots and ChatGPT, providing a comprehensive overview of the challenges faced in the industry.
Findings: The authors identify perceived risk, platform quality, connectivity and infrastructure, data privacy and security, user education and acceptance, existing legacy systems, and regulatory guidelines as the challenges of adopting chatbots. Additionally, the findings reveal that the challenges posed by ChatGPT in future banking include the potential reduction of traditional banking jobs, linguistic diversity, data privacy and security, ethical considerations and bias mitigation, explainability and accountability, integration with existing banking systems, and user trust and acceptance. However, implementing these new technologies also presents opportunities for individuals with unique human skills, such as critical thinking, empathy, and creativity, which are difficult to replace with technology.
Practical implications: By minimising the challenges of ChatGPT and chatbots, the banking industry could achieve improved customer service, cost efficiency, automation of routine tasks, and 24/7 availability, leading to enhanced customer satisfaction and operational efficiency in the banking industry. Additionally, these artificial intelligence (AI) tools enable data-driven insights, personalised experiences, scalability, and efficient handling of large customer volumes, contributing to better decision-making and enhanced customer engagement.
Details
Keywords
Pandaraiah Gouraram, Phanindra Goyari and Kirtti Ranjan Paltasingh
This paper examines the determinants of concurrent adoption of farm risk management strategies by rice growers in two different ecosystems of Telangana agriculture-irrigated and…
Abstract
Purpose
This paper examines the determinants of concurrent adoption of farm risk management strategies by rice growers in two different ecosystems of Telangana agriculture-irrigated and rainfed ecosystems.
Design/methodology/approach
The primary data have been collected from the rice growers in two different ecosystems, and after checking the variance inflation factor (VIF) for controlling multicollinearity, a multinomial logit model has been used to examine the determinants of concurrent adoption of coping strategies by rice growers.
Findings
The study finds that adopting one risk management strategy persuades farmers to embrace other strategies, reducing the risk in agriculture between the two ecosystems. Among the determinants, farmers' age, education, contact with extension services, irrigation sources, livestock income, total farm income, crop loss reasons, and crop insurance awareness significantly influence the adoption of various risk management measures. However, considerable heterogeneity is found among the driving forces across the rice ecosystems.
Research limitations/implications
The major policy implications that can be drawn from the analysis are increased access to information through government-funded extension services and the provision of alternative risk management technologies, such as drought-resistant or flood-resistant seeds, farmers' field schools and increased provision of crop insurance, farmer-friendly agriculture extension services, and farm investment support, are critical for assisting farmers managing risks. In addition, however, there should be ecosystem-specific policies to tackle the ecosystem heterogeneity.
Originality/value
This paper is very timely and entails some relevant policy implications for the development of Indian agriculture.
Details
Keywords
Arnab Kumar Das and Pooja Malik
This study aims to identify specific factors that facilitate engagement and stay intention among Generation Z employees in the Indian banking, financial services and insurance…
Abstract
Purpose
This study aims to identify specific factors that facilitate engagement and stay intention among Generation Z employees in the Indian banking, financial services and insurance (BFSI) context. Furthermore, using the frequency distribution of the identified factors, this study has ranked them in order of their association with stay intention.
Design/methodology/approach
Data were collected from 22 Gen Z employees working in the Indian private BFSI sector using unstructured interviews. Inductive content analysis was applied to identify the factors improving engagement and stay intention. Moreover, quantitative content analysis was applied to calculate the frequency distribution of the identified factors.
Findings
The study identified six prominent factors, namely, transformational leadership, employee investment practices, egalitarian practices, work-life balance, job crafting and sustainability, which significantly enhance employee engagement and stay intention among Gen Z employees. Moreover, based on the results of quantitative content analysis, it was found that transformational leadership exhibited the highest frequency in association with employee engagement and stay intention. Following this were employee involvement, egalitarian practices, work-life balance, job crafting and sustainability.
Research limitations/implications
In the coming days, Generation Z will contribute to almost one-third of India’s workforce, of which the BFSI sector will be the major employer. However, the issue with this generation is their retention. Hence, the study identifies factors ensuring engagement and stay intention.
Originality/value
Owing to the paucity of research on stay intention as a variable of interest, this study tries to capture the perceptions of Gen Z towards factors inducing their engagement and stay intention. This study assesses intention to stay (ITS) as compared to intention to leave (ITL) as it is a proactive indicator of turnover. Lastly, this study uses a qualitative approach to identify factors influencing stay intention and engagement based on interactions with employees, which, to the best of the authors’ knowledge, no prior study has attempted.
Details