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The purpose of this study to evaluate the evolving market efficiency of the housing market under the framework of adaptive market hypothesis and martingale difference hypothesis taking a case of India.

The study used a wild bootstrap version of the generalized spectral (GS) test in the rolling window framework to measure possible time-varying linear and non-linear dependence in the housing market.

The study finds that the Indian housing market, in general, is not efficient, and this efficiency is dynamic, which changes with time lending support to the adaptive market hypothesis. The study confirms that the evolutionary model of individuals adapting to a changing environment via behavioural biases affects the efficiency of the housing market, which leads to the evolving efficiency of the housing market prices.

The study believes that the potential implications go beyond evolutionary forces and the adaptive market hypothesis , which, does not only depend on an individual's decision-making process but also on social psychology. Thus, a further attempt in this line, taking into account the social psychology and quantitative rigour towards drivers of evolving efficiency is suggested for future research.

The study suggests that there is a possibility of extra returns for market players, but not always. The Indian housing market has witnessed several landmark reforms in recent years, so it is believed that these reforms would decrease the inefficiency level of this market. Contrary to this, the study’s findings reveal an increase in the inefficiency level in recent years. As the Indian housing market shows evolving efficiency, it is believed that the increased inefficiency is temporary. The increased inefficiency can be regarded as the settlement stage of the various policy and technical reforms.

Confirming the presence or absence of adaptive efficiency in the housing market under possible non-linear dependence will be a significant addition to the existing literature.

The purpose of this study is to explain the relationship between behavioural biases, investment satisfaction and reinvestment intention considering the effect of evolutionary psychology. The study believes that biases are not at all times bad; sometimes, biases can assist the individual investor to select the top course of action and allow them to go for the less costly mistakes, thereby helping in achieving satisficing behaviour.

Data were collected using structured and a close-ended questionnaire from a sample of 560 respondents by using multi-stage stratified sampling method. PLS-SEM was used for preliminary validation of the questionnaire. Mediation model using the structural equation model (SEM) with the help of AMOS 20 was used for the analyses. Pre-requisite assumptions for SEM were checked by using sample characteristics. The study has three constructs with multiple items; hence, the instrument validation was done by measuring the construct validity and reliability using Cronbach’s alpha, exploratory factor analysis and confirmatory factor analysis with the help of SPSS 20 and AMOS 20.

The study confirms that behavioural biases influence investment decisions in the real estate market. Further, investment satisfaction is found to have a significant and complementary partial mediating effect. The positive mediating effect of investment satisfaction between behavioural biases and reinvestment intention shows that biases are natural tendencies in response to limit to learning which can be explained by evolutionary psychology.

There are chances that the result obtained here is because of myopic decision-making behaviour in which the long-time horizon is not considered and behavioural biases, as well as evolutionary psychology, are adaptive, so the result may change in the long-time horizon, which seeks further investigations. The study talked about the relationship between behavioural biases, investment satisfaction and reinvestment intention; it will be interesting to bring some more constructs in this model, for example, investment intention and reinvestment behaviour; this can deliver a more precise picture in this regard.

Understanding such relationships will help in better clarity about the way investment is made. The study confirms that market behaviour in the real estate market is sub-optimal, which shows that there is an opportunity for attentive investors by trading and gathering on information. Real estate practitioners can get clues from market anomalies and investor phenomena; understanding these may suggest ways to use them in the market.

Reforms in the housing sector do not only satisfy one of the basic needs but also leads to holistic economic development. Besides direct contribution, it contributes to social capital.

The study extends the current knowledge base about the relationship between behavioural biases, investment satisfaction and reinvestment intention. This study investigates the behavioural biases influencing the real estate market investment decisions of non-professional investors considering the effect of evolutionary psychology.

This study aims to investigate the behavioural biases influencing the real estate market investing decisions of normal non-professional investors in India.

As the study involves the behavioural data with polytomous response format, psychometric test- graded response model (IRT approach) was used for the study with the help of STATA 14. Multi-stage stratified sampling was used to collect a sample of 560 respondents. The study used a 14-item scale representing behavioural biases derived from two broad behavioural theories, i.e. heuristics and prospect theories. Sample characteristics were checked using SPSS 20. Pre-required assumptions for IRT (i.e. local independence and unidimensionality) were tested by CFA using AMOS 20.

Five items, four of which belong to heuristics (anchoring – 2, representativeness – 1 and availability bias – 1) and one belong to prospect theory (regret aversion) are sufficient to measure the behavioural attitude of real estate investors in the Indian scenario. Item discrimination ai ranged from 0.95 to 1.52 (average value 1.29), showing moderate discrimination power of the items. The items have done a pretty good job of assessing the lower level of agreement. For the higher level of agreement, the scale came out to be less precise, with less information and higher standard error of measurement.

As the behavioural biases are often false, the study suggests the investors not to repeat these nasty biases to improve investment strategies. As they are shared and not easily changeable, understanding these biases may also help them in beating the market by acting as “noise traders”.

The traditional price index is incomplete in some essential respects. The inclusion of these behavioural biases into the construction of price index will greatly improve the traditional price index, policymakers should seriously think about it.

Shelter is one of the basic needs; a dwelling unit is needed for one to stay in, develop and contribute to economy and society. If investors try to minimise these biases and policymakers keep a track of these while making strategies, mispricing in this sector can be controlled to some extent, which will ultimately help in the well-being of society.

This study contributes to the limited research by investigating the behavioural biases influencing the real estate market investment decisions of normal non-professional investors. It contributes to the lacking academe on real estate market in India. The study has used a psychometric test, i.e. the item response theory, for evaluating the quality of the items.

The purpose of this paper is to study the effect of the 2008 global financial crisis on housing market dynamics in an emerging economy like India using quarterly data (Q4 2008–2009 to Q1 2018–2019). The study explores the extent of linkages between housing prices, monetary policy and financial stability by explaining the nature of the shocks to the housing sector and the degree of impact of those shocks; the possibility of adverse feedback loop which is beyond the natural levels; and the usefulness of explicit and direct role of monetary policy for the housing market stability, which was the loudest demand immediately after the crisis.

The paper follows a three-step methodology: data transformations, a variable selection process “general-to-specific modelling” with the help of OxMetrics 6 Package, and vector autoregressive modelling with the help of EViews 10. F-test was used to describe the short-term relationships between the variables. Impulse response and variance decomposition were used to explain the type of relationship (negative or positive) and the period of the relationships, respectively.

The study finds that the housing sector is sensitive to the monetary policy shocks, whereas the contribution of the housing market shocks to the fluctuations in other market variables is not substantial, though not negligible. As far as the nature of the shocks is concerned, the observed dynamics in the real house prices are diverging from their fundamental levels. The housing market shocks are more or less static; it rules out the chances for a self-reinforcing feedback loop with the existing setup.

The study concludes that the observed dynamics in the real house prices are diverging from their fundamental levels. Given the limitation, the researchers could extend this study by decomposing the part of the risk to the sector contributed by the other drivers, which may be inherent imperfections in housing markets, weak and unreliable wealth effect, and the presence of behavioural biases.

The present study finds countercyclical measures to be more useful for this sector as compared to the forward-looking monetary policy reforms in this sector. The central bank in India should continue to refrain from responding directly to the housing sector fluctuations. Investors can enjoy investing in the housing sector without any fear of the crisis as of now. The effect of speculation is small but not negligible, which enjoins the investors and the policy-makers to remain watchful. Interest rate, money supply and inflation lead (Granger-cause) the housing prices. This information is relevant for spending and investment decisions.

The study feels that banks should avoid using monetary policy to balance the house prices. This will be beneficial both for the economy and the society, as any change in monetary policy to especially curb out surging housing prices may adversely affect the output, and finally, may lead to the deflation. The fear of deflation may cause devastating economic, financial and social effects.

The study contributes to the literature by shedding some new insights about the interrelationship between macroeconomic variables, housing prices and financial stability in the aftermath of the 2008–2009 financial crisis. Such types of studies are absent from emerging markets, particularly from India.

The purpose of this study is to examine the role of contemporary consumer-brand relationships in predicting brand sacredness, brand fidelity and propensity to spread word of mouth (WOM) in the context of “halal” cosmetic brands.

The proposed research framework has been empirically tested by collecting responses from 403 Muslim respondents of diverse demographics. Structural equation modelling has been used for exploring the underlying relationships between emotions associated with halal brands.

All the proposed hypotheses were positively significant, thus confirming that brand love is significantly affected by brand trust, brand image, self-congruence and brand experience. Further, brand love acts as a significant determinant in shaping brand sacredness, brand fidelity and WOM.

The study has made a significant contribution by exploring the intensity of brand love and its effect on relationship-maintenance triad in halal cosmetic brands in India.

Marketers must understand the emotional side of brands to create synergy in their marketing efforts. Moreover, in the case of religious or faith-based brands, attainment of the highest order of brand love can play a revolutionary role for long-term growth.

In the context of halal cosmetic brands in India, this study has offered a new perspective by extending the literature on consumer-brand relationships. The use of brand fidelity and brand sacredness has enhanced the effectiveness of emotions with which consumers have been looking at brands for ages.

This paper aims to investigate the role of bank reputation (via its proposed dimensions) in influencing bank trust and its subsequent effect on the loyalty of the customer. The study has also explored the moderating role of bank type (public vs private bank) in the relationship between the dimensions of bank reputation and bank trust.

A total of 651 questionnaires were distributed to the customers of public and private bank, whereas only 375 usable responses were obtained. Questionnaires were given to the respondents through the visit of few interviewers to several private and public banks in Delhi and NCR region during December 2019 to February 2020. A screening question was included in the beginning of the questionnaire (i.e. Do you trust your bank?). Non-random sampling technique was used for data collection, and the research design was cross-sectional. The proposed framework was tested with the help of structural equation modeling.

The findings of the study show that all the proposed dimensions (i.e. service quality, stability, customer centricism and corporate performance) of corporate reputation/bank reputation significantly affect bank trust. Also, the effect of bank trust on loyalty was found significant. Bank type emerged as a significant moderator between the dimensions of bank reputation and bank trust. It shows that the effect of service quality, stability, customer centricism and corporate performance on bank trust significantly differs in public vs private banks. Customer centricism is perceived to be high in private banks, whereas all the other three dimensions are obtained to be higher in public sector banks according to the findings of the study.

The presented framework in the study has covered all the significant antecedents of bank trust and its subsequent effect on loyalty. The findings of the paper are useful to several stakeholders, including bank managers, regulators, investors and depositors. The study shows that bank reputation affects trust and loyalty in the long run. This relationship can be used by bank managers for gaining the trust of customers and building loyalty. It also helps in making strategies by banks for targeting customers. Stability is a very crucial factor for a developing economy. The bank regulators can use these results for ensuring the soundness of the banking system and for providing a stable environment for customers. Bank depositors and investors can also use the findings of the study for analyzing the factors that affect their bank selection decision.

The present research shows that bank type moderates the relationship of the dimensions of bank reputation and bank trust in an emerging economy in Asia.

This study aims to examine the impact of the structural linkages between memorable tourism experiences, destination attachment, tourists’ satisfaction and customer-based destination brand-equity on tourists’ storytelling intentions.

The authors proposed a conceptual model that examines how memorable experiences contribute to tourists’ sense of attachment to a destination, which can lead to their willingness to share their trip stories. Using partial least square estimation, the authors analysed the conceptual model through data generated by a survey of 448 Indian domestic tourists.

Study confirms the validity and usefulness of the conceptualized model, as it shows significant correlations between the key variables. Specifically, the authors found that positive and memorable tourism experiences significantly affect tourists’ attachment and their satisfaction with destinations. As a result, tourists who form a strong customer-based destination brand equity are more likely to develop storytelling intentions.

To the best of the authors’ knowledge, current study is the earliest to explore the association between memorable tourism experiences, tourist satisfaction, attachment, customer-based brand equity and how they impact storytelling intentions of tourists.

The purpose of this paper is to examine the effect of perceived green human resource management (GHRM) on job pursuit intention (JPI) of prospective employees. In addition, an attempt was made to unfurl the underlying psychological mechanisms and illuminate the boundary conditions of the aforementioned relationship by proposing organizational prestige (OP) as mediator and environmental orientation (EO) and gender as moderators.

In total, 172 undergraduate engineering students of a reputed engineering institute in India constituted the sample for this scenario-based study. Direct, mediation, moderation and moderated mediation hypotheses were tested using hierarchical linear regression analysis and bootstrapping procedures in SPSS.

GHRM was found to relate significantly with JPI of prospective applicants and OP mediated the above linkage. EO was found to significantly moderate the association of GHRM with JPI. However, gender failed to add to the understanding of the above relationship.

By providing evidence on the psychological processes which the applicants engage in during employer selection, organizations will be able to form appropriate strategies for attracting talent to their organizations.

The study addresses the call for research to integrate the diverse disciplines of environmental management and human resource management and provides additional insights into human aspect of environmental sustainability. It advances the sustainable HRM literature by providing comprehensive understanding of how and when GHRM influences prospective employee outcomes.

Utilising the stimulus-organism-response (S-O-R) theoretical framework, this study investigated how destination attachment and overall satisfaction mediate the linkage between memorable tourism experiences and customer-based destination brand equity (CBDBE).

The authors study presents a model that illustrates how memorable tourism experiences can influence CBDBE by impacting tourists' attachment and overall satisfaction with a destination. The model was tested using empirical data obtained through a survey of 382 Indian domestic tourists. The data were analysed using the SPSS AMOS (Statistical Package for Social Sciences Analysis of a Moment Structures) programme.

This study validates the accuracy and effectiveness of the suggested conceptual model, demonstrating significant linkage between the variables of the study. Accordingly, it was observed that positive memorable tourism experiences have a notable impact on the development of attachment and satisfaction with the tourist destination forming strong CBDBE.

The study's primary managerial recommendation is that, to achieve sustainable competitive advantage, destination management organisations should give priority to memorable experiences and positive emotions instead than only concentrating on product-centred marketing. Second, destination managers must mould their business models based on the link between memorable tourism experiences, destination attachment, satisfaction and CBDBE.

Perhaps, the authors' research is one of the earliest to explore the relationship between tourists' overall satisfaction, attachment to a destination and memorable experiences and how they impact customer-based brand equity (CBBE) for a specific urban hill station destination.

Tourists regularly make use of their smartphones while staying at tourist destinations. Several studies have studied the outcomes of smartphone use at travel destinations. The current paper believes tourists’ use of their smartphone or its apps because of their contact with tour friends, social loneliness-related concerns or its aesthetic scope. The purpose of this paper is to identify the factors of continued use of smartphone apps via travelers during their stay at a tourism destination, framed within the UTAUT2 model (unified theory of acceptance and use of technology), given intrinsic user attributes (innovativeness), tourism destination aspect (aesthetic scope and social loneliness) and one of the key characteristics of mobile devices (portability).

The sample consists of 357 smartphone users who travelled to some tourist destinations and used some mobile apps during their stay. Data was analyzed using the structural equation modeling approach.

The findings of the study show that the UTAUT2 model can effectively explain the use of smartphone apps at tourism destinations and characteristics of the user and mobile device, does affect behaviour outcomes (smartphone, intention to reuse app, satisfaction towards trip and loyalty towards app).

This paper is mainly important due to its emphasis on smartphone apps’ use during the travel stay, as the majority of the existing literature focusses on prior steps ( service booking).