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1 – 10 of 10Nisha Prakash and Madhvi Sethi
This article investigates the impact of foreign trade on carbon emissions of the member countries of the largest trade bloc, the Regional Comprehensive Economic Partnership (RCEP).
Abstract
Purpose
This article investigates the impact of foreign trade on carbon emissions of the member countries of the largest trade bloc, the Regional Comprehensive Economic Partnership (RCEP).
Design/methodology/approach
The aggregate bilateral trade with members of RCEP during the period 1991–2020 was considered for analysis. The study also examines the impact of foreign trade (between member countries) on economic development, represented by GDP per capita. Dumitrescu–Hurlin panel Granger causality test was conducted to understand the impact of foreign trade on GDP per capita and carbon emissions.
Findings
Results indicate that though foreign trade is heterogeneously Granger causing GDP per capita, it also aggravates carbon emissions in RCEP bloc.
Originality/value
The study is of significance to the policymakers in the member countries as it provides evidence to include climate impact in trade agreements. The wealthier RCEP member countries can support the green transition of low-income countries through transfer of eco-friendly technologies.
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Nisha Prakash, Aditya Maheshwari and Aparna Hawaldar
Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any…
Abstract
Purpose
Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis.
Design/methodology/approach
The study utilizes three leverage ratios in an extended market index, BSE500, for the period 2015–2021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (2015–2019) and pandemic (2020–2021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity.
Findings
The findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty.
Research limitations/implications
The study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid.
Practical implications
To maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival.
Originality/value
Developing countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival.
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Nisha Prakash and Madhvi Sethi
Advancing the economies in Asia toward meeting sustainable development goals (SDGs) needs an unprecedented investment in people, processes and the planet. The participation of the…
Abstract
Purpose
Advancing the economies in Asia toward meeting sustainable development goals (SDGs) needs an unprecedented investment in people, processes and the planet. The participation of the private sector is necessary to bridge the financing gap to attain this objective. Engaging the private sector can contribute significantly to attaining the 2030 agenda for SD. However, the financial markets in Asian economies are yet to realize this potential. In this context, this paper aims to discuss the state of finance for SD in Asia and identifies innovative financial instruments for attracting private investments for SDs in these economies.
Design/methodology/approach
This study relies on published articles, reports and policy documents on financing mechanisms for SD. The literature review covered journal data sources, reports from global institutions such as the UN, World Bank, International Monetary Fund and think-tanks operating in the field of climate change policies. Though the topic was specific to financial market instruments, a broader search was conducted to understand the different sources of sustainable finance available, particularly in Asia.
Findings
The investments that are required for meeting the SDGs remain underfunded. Though interest in sustainability is growing in the Asian economies, the financial markets are yet to transition to tap the growing interest in sustainable investing among global investors. This paper concludes that to raise capital from private investors the Asian economies should ensure information availability, reduce distortions and unblock regulatory obstacles. It would also need designing policies and introducing blended financing instruments combining private and public funds.
Research limitations/implications
Though the study has grouped Asian economies, the financing strategy for SDGs should be developed at the country-level considering the domestic financial markets, local developmental stage, fiscal capacity and nationally determined contributions. Further research can focus on developing country-specific strategies for using innovative financial instruments.
Originality/value
Mobilizing funds for implementing the 2030 Agenda for SD is a major challenge for Asian economies. The paper is addressed to national policymakers in Asian economies for developing strategies to raise capital for SD through private participation. It provides opportunities for revisiting national approaches to sustainable finance in these economies.
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Nisha Prakash and Aparna Hawaldar
In 1991, India embarked on market-based economic reforms initiatives pillared on liberalization, privatization and globalization (LPG). The reforms exposed the public sector…
Abstract
Purpose
In 1991, India embarked on market-based economic reforms initiatives pillared on liberalization, privatization and globalization (LPG). The reforms exposed the public sector enterprises to competitive market forces, raising the need to identify and develop the competencies necessary for survival. Executive training programs were initiated to prepare public enterprises for the market-based reforms. Three decades later, the reforms especially privatization is witnessing renewed interest under the current administration. In this context, the article takes a closer look at the structure of management education provided to public sector officers in India. The article also identifies barriers for implementing the learnings from the management courses in the workplaces and suggests approaches for closing the gap.
Design/methodology/approach
The study follows a thematic approach based on unstructured interviews of senior executives of Indian public sector enterprises covering oil and gas, aeronautical, power and transportation sectors. New public management (NPM) is used as a yardstick of “business-like” characteristics of public sector enterprises.
Findings
Despite heavy investment, trainings have had only partial success in implementing the core objective of NPM, i.e. to provide quality services in a professional manner to meet citizen requirements. The study found that though concepts of NPM are introduced at multiple management training programs, the public enterprises lag in the implementation of NPM. The ingrained hierarchical and procedural culture of the enterprises was often highlighted as the challenge to its implementation.
Practical implications
The study will be of significance to Indian policymakers in designing management education programs to public sector employees. It brings out – (1) various models of management education provided to public servants across industries, (2) provide evidence on the extent of NPM implementation, (3) identify barriers for transitioning the learnings from the management courses to workplace and (4) suggest changes for improving effectiveness.
Originality/value
The existing research on LPG in India covers the economic transformation post-implementation and the factors contributing to the success of its implementation. This study adds to the limited literature available on the management education of public servants in the country.
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Nisha Prakash, Subburaj Alagarsamy and Aparna Hawaldar
The study attempts to understand the factors impacting the financial wellbeing of IT employees in India using confirmatory factor analysis (CFA). It utilizes well-established…
Abstract
Purpose
The study attempts to understand the factors impacting the financial wellbeing of IT employees in India using confirmatory factor analysis (CFA). It utilizes well-established survey instruments to assess the impact of financial literacy, financial behaviour and financial stress on financial wellbeing. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis.
Design/methodology/approach
Structured equation modelling (SEM) is used to study the link between the determinants. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis. Data used for the analysis covers 237 employees working in the IT sector.
Findings
While financial literacy and financial behaviour have a significant positive impact on financial wellbeing, financial stress has a significant negative impact. Financial behaviour and financial stress were found to have a mediating role in the relationship between financial literacy and financial wellbeing. The demographic variables significantly moderate the relationship between the factors leading to financial wellbeing.
Originality/value
The results show the need for financial wellbeing programs to focus on enhancing financial knowledge and improving financial planning. Further, it suggests offering customized financial wellbeing programs based on the employee's demographic characteristics rather than following a “one program, fits all” approach.
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Morten Balle Hansen, Anja Overggaard Thomassen and Dag Olaf Torjesen
Divya Ladha, Nisha Shah, Suresh Thakur, Mohsin Lone and Prakash Jha
– The purpose of this paper is to investigate the inhibitive properties of black pepper extract (BPE) for aluminium in 1M hydrochloric acid (HCl) medium.
Abstract
Purpose
The purpose of this paper is to investigate the inhibitive properties of black pepper extract (BPE) for aluminium in 1M hydrochloric acid (HCl) medium.
Design/methodology/approach
Gravimetric, electrochemical impedance spectroscopy, galvanostatic polarization, scanning electron microscopy with energy dispersive X-ray examinations (SEM-EDX) techniques were used to study the corrosion inhibitive study.
Findings
The gravimetric measurement indicates that inhibition efficiency shows direct proportional relation with concentration of inhibitor. The impedance results illustrates that there was a presence of protective layer of inhibitor adsorbed on the metal/solution interface. Polarization outcome showed that BPE is mixed type inhibitor. The existence of adherent layer of inhibitor on the Al surface was confirmed by SEM-EDX. Quantum chemical calculations were performed using the density functional theory at B3LYP/6-31G(d) level of theory to evaluate the activity of inhibitor molecules present in extract towards the corrosion inhibition of Al.
Research limitations/implications
Due to the presence of large number of compounds in the extract, it becomes difficult to understand the most active compound responsible for inhibition. However, from gas chromatography mass spectrometry and quantum data, the approximation has been made that the major compound piperine present in the extract can be most probable component responsible for the inhibition activity. Further calculation of binding energy between Al and inhibitor molecules can be performed using Material Studio software.
Practical implications
The extract can be used in cleaning and etching solutions. It can be used to limit the loss of Al metal during etching process.
Originality/value
BPE can be used as a potential source of eco-friendly corrosion inhibitor for Al in HCl medium.
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Ana Colovic and Sonia Mehrotra
The purpose of this paper is to investigate how a local trade union improves living conditions for women entrepreneurs in India and how its activities have evolved over time.
Abstract
Purpose
The purpose of this paper is to investigate how a local trade union improves living conditions for women entrepreneurs in India and how its activities have evolved over time.
Design/methodology/approach
The authors conducted a longitudinal case study of the self-employed women’s association (SEWA) in India. Founded in 1972, this organization fosters and supports women’s entrepreneurship. The approach of this study combines qualitative face-to-face interviews and secondary data analysis.
Findings
The findings highlight the fact that SEWA, which combines the features of a trade union and a social movement, improves women’s conditions in several different ways. The study shows that the organization’s main role has evolved from creating a community to expanding it and finally to becoming an agent of societal change.
Originality/value
The study contributes to the literature by analyzing how locally grown organizations fight social exclusion and improve the conditions of deprived groups in emerging economies.
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Alexander I. Ikeuba and Peter C. Okafor
This paper aims to appraise the inhibitory effect of saponins extracted from Gongronema latifolium (SEGL) on mild steel in acid media. This is in a bid to conserve our environment…
Abstract
Purpose
This paper aims to appraise the inhibitory effect of saponins extracted from Gongronema latifolium (SEGL) on mild steel in acid media. This is in a bid to conserve our environment and maintain the integrity of engineering structures and materials.
Design/methodology/approach
The corrosion inhibition of SEGL and ethanolic extracts of the leaves of G. latifolium (EEGL) on mild steel was studied by hydrogen evolution technique within a temperature range of 30-60°C in tetraoxosulphate (VI) acid solutions.
Findings
The extracts inhibit the corrosion of mild steel, and the inhibition efficiency depends on the concentration of the plant extract, temperature and the period of immersion. SEGL was comparatively more efficient than EEGL. Optimum values of the inhibition efficiency for both the EEGL and SEGL (93.7 and 96.5 per cent, respectively) were obtained at extract concentration of 10 g/L, whereas the least values were obtained at extract concentration of 0.5 g/L.
Originality/value
This paper provides new information on the possible application of isolated SEGL as an environmentally friendly corrosion inhibitor. The possible mechanism of the inhibitive action is also given.
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Halime Morovati, Mohammad Reza Noorbala, Mansoor Namazian, Hamid R. Zare and Ahmad Ali Dehghani-Firouzabadi
The main purpose of the present work is to introduce two new Schiff bases as corrosion inhibitors (CIs) for carbon steel (CS). The anti-corrosion performance of these Schiff bases…
Abstract
Purpose
The main purpose of the present work is to introduce two new Schiff bases as corrosion inhibitors (CIs) for carbon steel (CS). The anti-corrosion performance of these Schiff bases having N and S heteroatoms in their structures was investigated and compared in 2 M HCl electrolyte. The inhibitory activity of these Schiff bases was also assessed.
Design/methodology/approach
Common electrochemical assays like potentiodynamic polarization and electrochemical impedance measurements were used to evaluate the ability of compounds in reduction of the rate of corrosion. Quantum chemical calculations (QCCs) were also used to examine the corrosion inhibitive and the process related to the electrical and structural characteristics of the molecules acting as CIs.
Findings
The electrochemical measurements indicate that both Schiff bases acted as the efficient CIs of CS in 2 M HCl electrolyte. The adsorption of the Schiff base on the surface of the CS caused the corrosion to be inhibited. The change of Gibbs energies indicated that both physical and chemical interactions are involved in the adsorption of NNS and SNS on CS surfaces. The predicted QCCs of the CIs neutral and positively charged versions were well-aligned with those obtained by electrochemical experiments.
Originality/value
Using electrochemical experiments and quantum chemical modelings, two new Schiff bases, N-2-((2-nitrophenyl)thio)phenyl)-1-(pyrrole-2-yl)methanimine (NNS) and N-2-((2-nitrophenyl)thio)phenyl)-1-(thiophen-2-yl)methanimine (SNS), were evaluated as anti-corrosion agents for CS in 2 M HCl electrolyte. The DFT calculations were considered to compute the quantum chemical parameters of the inhibitors.
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