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1 – 3 of 3Shailesh Rastogi, Kuldeep Singh and Jagjeevan Kanoujiya
Nowadays, informed decision-making is catching up. Technological advancements and computing ability further fuel and facilitate this tilt toward informed decision-making. In such…
Abstract
Purpose
Nowadays, informed decision-making is catching up. Technological advancements and computing ability further fuel and facilitate this tilt toward informed decision-making. In such a scenario, data is cynosure. Therefore, the ability to gather data by a nation (incredibly accurate public data) becomes equally important and relevant, as measured by statistical performance indicators (SPI). This study aims to explore the association of financial inclusion (FI); environmental, social and governance (ESG); poverty; and SPI.
Design/methodology/approach
The panel data of 140 nations for nine years are gathered to explore the association of FI, ESG and poverty with the SPI. Panel data estimation is conducted to arrive at the results.
Findings
The findings of this study highlight mixed outcomes for FI. ESG is positively associated with SPI, but poverty is not associated with SPI. These findings imply that an increase in FI may reduce the statistical capacity of the nations. An increase in ESG increases the capacity. However, change in poverty does not influence the SPI. The recommendation based on this study’s outcome suggests auditing the FI and poverty vis-à-vis SPI to ensure SPI’s veracity and robustness in the long run.
Originality/value
The way in which the individual social, economic and environmental indicators influence the SPI needs to be tested to establish the veracity and robustness of the SPI, which is barely researched as observed in the literature.
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Shailesh Rastogi, Kuldeep Singh and Jagjeevan Kanoujiya
The study intends to determine the environment, social and governance (ESG)'s impact on the firm's value. In addition, how ownership concentration (OC) and transparency and…
Abstract
Purpose
The study intends to determine the environment, social and governance (ESG)'s impact on the firm's value. In addition, how ownership concentration (OC) and transparency and disclosures (TD) influence the impact of firm's ESG on its valuation (firm value).
Design/methodology/approach
The relevant panel data with a sample of 78 Indian firms for five years (2016–2020) are gathered. Both linear and nonlinear connections of firm's ESG with its value are tested. In addition, TD and two components of OC (stakes of promoters and institutional investors) are empirically tested as moderators on the connectivity of the firm's ESG with its value.
Findings
The linear association of firm's ESG with its value is found insignificant. ESG is found to have a positive and nonlinear (U-shaped) impact on the value of the firms. TD does not moderate the connectivity of firm's ESG with its valuation (firm value). The higher stakes of promoters positively affect the association of firm's ESG with the valuation. However, the high stakes of institutional investors retard the ESG's influence on the firm value.
Research limitations/implications
The study is on Indian firms for five years. A sample of more than one nation and a longer duration (10 years) could have helped better determine the associations among the variables. In turn, these limitations can be the present study's future scope. In addition, the authors find a lack of standardisation of the ESG scales, which is a problem in measuring it. Using standardisation scales of ESG for the analysis can also be future scope on the topic.
Practical implications
The investors would be wary of the level of ESG to influence the firms' value positively. Managers also need to be careful to have sincere efforts for ESG to reap its rich dividends. Policymakers may take cognisance that despite having board seats (in a few cases), institutional investors negatively (instead of positively as expected) influences the ESG's association with the firm's value. They may bring some guidelines or legislative changes to fix responsibility on the part of the institutional investors.
Originality/value
No study reports the linear and nonlinear association of ESG on the firm's value to observe clearer connectivity between the two. Similarly, no study is observed to have promoters and institutional investors as moderators on the association of firm's ESG with the valuation (firm value). Hence, the present study considerably augments the extant literature on the topic and its contribution.
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Shailesh Rastogi and Jagjeevan Kanoujiya
The purpose of the study is to explore the association of disclosures for the performance of banks in India.
Abstract
Purpose
The purpose of the study is to explore the association of disclosures for the performance of banks in India.
Design/methodology/approach
Panel data analysis (utilising static and dynamic models) is applied on the data of 34 Indian banks (for time-frame 2015–2019) to explore the association of disclosures (as transparency and disclosure index) with the performance of banks (as profitability, risk-taking and technical efficiency (TE)). The regulation, competition and ownership concentration variables are taken as control variables.
Findings
None of the banks' performance measures applied in the study is significantly associated with the disclosures. This situation implies that disclosures do not impact the performance of the banks in India. The reason is that disclosures and performance are two different activities that aim at different purposes.
Research limitations/implications
This study does not provide output for the association between disclosures and the value of the banks and confines itself to explore the association between disclosures and performance of the banks only. This limitation can be the future scope of the study.
Originality/value
There is no other study that solely focuses on exploring the association of disclosures with the performance of the banks. Disclosure has more significant importance in banks because of the inherent nature of opaqueness in banking operations. Therefore, the current study's findings have substantial implications for policymakers, managers and investors of the banks.
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