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The purpose of this paper is to evaluate the efficiency of aluminium firms in India.

Different data envelopment analysis (DEA) models have been employed to calculate the various efficiency scores of aluminium firms in India.

The major findings of the DEA analysis suggest that 62 per cent firms are found to be technically efficient. Overall, the industry shows good performance with mean technical efficiency levels of 0.936 and 0.911 for VRS and CRS frameworks, respectively. Further, five firms show decreasing returns to scale, signifying the overutilization of plant capacities. Six firms exhibit increasing returns to scale implying underutilization of plants. The results show that domestic firms are more efficient than the foreign firms, young firms are more efficient than young firms and small- and medium-scale firms are more efficient than large-scale firms.

The results of this study would help the aluminium firms to formulate an appropriate strategy to cautiously use their resources to increase their efficiency levels.

To the best of authors’ knowledge, no earlier studies seem to have ranked the aluminium firms based on their super-efficiency scores. Further, no previous studies seem to have examined the efficiency differences among aluminium firms across different size, age and ownership groups.

The purpose of the study is to provide insights into the process of decision making. Indian Railways as an organization has to use the available resources based on thorough analysis and proper application of available evaluation methodologies.

This study uses an integrated group discussion – analytical hierarchy process (AHP) to prioritize capital-intensive Indian Railways projects.

Through an email-based survey, six important criteria for ranking upcoming domestic freight corridors were selected, and weights for these criteria were calculated through AHP. The sensitivity analysis of the decision model suggests that the results of this study are significant, reliable and robust.

This study lays a foundation for the decision-makers of Indian Railways to consider a scientific approach while finalizing the big investment projects. This paper provides essential insights on prioritizing capital-intensive transport projects and is readily applicable to any case study.

The purpose of this paper is to adopt an institutional theory perspective to investigate the adoption of enterprise resource planning (ERP) systems by medium-sized firms in India. The rationale for this study is to provide a more complete understanding of ERP adoption, moving beyond the traditional technical and economic perspectives to include social, cultural and structural influences. These later influences are more implicit, insidious and pervasive and hence require elucidatory studies such as this, but offer a greater understanding of the adoption of information systems (IS).

The study is undertaken by means of nine case studies of medium-sized firms in India that have adopted ERP systems. Qualitative interviews were undertaken with a range of staff in each firm and are supplemented by data from other sources such as site visit notes.

Institutionally based studies have tended to focus on three high-level isomorphic pressures: coercive, normative and mimetic. The study identifies number of more detailed factors that contribute to each of these three pressures. These more detailed factors are then used to consider how factors can interact and how they can explain aspects of the Indian context of the study.

The conceptual contribution of this study is to move beyond the technical and economic rationales frequently identified for the adoption of IS by identifying influences that are social, cultural and structural in nature. The study shows that the three high-level isomorphic pressures, mimetic, coercive and normative are comprised of more detailed factors. The empirical contribution of the paper is to identify these detailed factors, and to explore their influence, in the case of ERP adoption by Indian medium-sized firms. The study is of value to practitioners, since it is at the detailed level of factors that managers can recognize the forces they are subject to and can take action. It is also valuable to researchers since the detailed factors help address two limitations of institutional theory; a lack of agency perspective and a degree of conceptual ambiguity.

This paper compares the impact of corporate governance determinants of asset quality between India’s public and private sector banks. The article identifies which corporate governance determinant is better utilized between the two sectors. The findings empower the banking regulatory authorities and individual bank administrators to handle asset quality in a better manner through a robust corporate governance framework. The study’s findings are also helpful for other nations to make informed judgments by countries with economic relations with India.

The article uses a dynamic panel data analysis method on novel data to achieve the purpose of this article. Using the General Method of Moments, the authors analyze 21 public and 24 private sector banks. The data used in this study span over a decade from 2010 to 2019.

According to the estimates, there is a significant difference in the impact made by corporate governance determinants on public sector banks vis-à-vis private sector banks. The results find that while board size has a greater impact on the asset quality of private banks, board independence has a lesser impact. Gender diversity contributes to more reduction of NPAs in private banks. The article also concludes that public banks perform better in the utilization of audit committee while private banks are better at using board meetings, CEO duality and ownership concentration.

Several papers have identified the determinants of asset quality in banks in various nations. However, to the authors' knowledge, none of the papers has identified the difference in the impact of corporate governance determinants between India’s public and private sector banks separately. This article is the first to do so.

The purpose of this paper is to validate the theoretical finding that digital MNEs avoid physical presence norms of permanent establishment and royalty characterization rules for business and royalty taxation, respectively, to escape tax incidence in the market economy, using information, communication and technology features and transfer pricing (TP) manipulations.

Multiple case studies of MNEs from technology sector, based on judicial decisions in 141 cases, over taxability of profits earned from Indian economic activities. Additional in-depth case study of the Uber Group to study the tax avoidance structures under platform economy, by routing of Indian profits through The Netherlands, a tax haven.

The study finds a significant number of digital MNEs earning profits from India and avoiding tax by defying physical presence and royalty characterization. In majority of the cases, demand-side business activities are discharged through incorporating and remunerating affiliates at cost plus low markup, thus avoiding tax incidence, using TP manipulations under the arm’s length principle applied by governments for benchmarking the intragroup transactions of the MNEs.

The research findings validate the view that digital features promote tax avoidance in the market economy.

The originality of the study lies in the validation of profit shifting through digital features from the developing market economy and portending that digital MNEs defy physical presence to avoid business taxation through TP manipulations.

Against the backdrop of an Indian banking sector that finds itself entangled in the triple deadlock of increasing competition, technological changes and strict regulatory compliance, the study aims to examine the need for reinforcing stringent corporate and risk governance mechanisms as an instrument for improving efficiency and productivity levels.

The authors construct three separate indices, namely, supervisory board index, audit index and risk governance index to measure the governance practices of commercial banks. A slacks-based data envelopment analysis technical efficiency (TE) measure, a variable returns to scale cost efficiency model and Malmquist productivity index are employed to determine TE, cost efficiency and productivity change, respectively. A two-step system-generalized method of moments estimation accounts for the dynamic relationship between governance and efficiency.

The authors show that strict audit and risk governance mechanisms are associated with better efficiency and productivity levels. However, consistent with the free-rider hypothesis, large, independent and diverse boards lead to cost inefficiencies. Strict risk governance structures circumvent the negative effects of high regulatory capital and improve efficiency and total factor productivity. However, friendly boards do not perform efficiently in the presence of regulatory capital, implying that incentives arising from maintaining high levels of equity capital make them more susceptible to risk-taking, and board composition is unable to sidestep this behaviour.

The paper contributes to the literature that explores the linkages between governance, efficiency and productivity. The inferences hold relevance in the post-COVID world, as regulators try to circumvent the additional stress on the banking system by adopting sound corporate and risk governance mechanisms.

This paper empirically examines the short-term and long-term associations between risk, capital and efficiency (R-C-E) in the Indian banking sector across 2008–2019 to answer the presence of causation or contemporaneousness in the R-C-E nexus.

The paper focuses on three objectives. First, the authors determine short-term causality in the risk–efficiency relationship by studying the simultaneous influence of a wide array of banking risks on DEA-based technical and cost efficiency in static and dynamic situations. Second, the authors introduce bank capital and contemporaneously determine the interplay between R-C-E using seemingly unrelated regression equation (SURE) and three-staged least squares (3SLS). Last, the authors assess stability in inter-temporal associations using Granger causality in an autoregressive distributed lag (ARDL) generalized method of moments (GMM) framework.

The authors contend that high capital buffers reduce insolvency risk and increase bank stability. Technically efficient banks carry lesser equity buffers, suggesting a trade-off between capital and efficiency. However, capitalization makes banks more technically efficient but not cost-efficient, implying that over-capitalization creates cost inefficiencies, which, in line with the cost skimping hypothesis, forces banks to undertake risk. Concerning causal relationships, the authors conclude that inefficiency Granger-causes insolvency and increases bank risk. Further, steady increases in capital precede technical and cost efficiency improvements. The converse also holds as more efficient banks depict temporal increases in capitalization levels.

The paper is perhaps the first that acknowledges the influence of the “time” perspective on the R-C-E nexus in an emerging economy and advocates that prudential regulations must focus on short-term and long-term intricacies among the triumvirate to foster a stable banking environment.

The purpose of this study is to explore and evaluate potential nonmonotonicity in the determinants of profit efficiency, specifically IT and R&D investments in the Indian commercial banking sector.

The study employs an alternative stochastic profit efficiency framework and introduces nonmonotonic effects by parameterizing the location and scale parameters of the inefficiency component on an unbalanced panel data set of 72 commercial banks in the 2008–2019 period. Marginal effects across quartiles are calculated using a bias-corrected and accelerated bootstrap procedure of 500 simulations. The study disaggregates across ownership and size for gauging the impact of structure on the associations between determinants of profit efficiency.

The study partially rejects the productivity paradox as it discovers a negative association of IT and R&D with profit inefficiency. However, the observed nonmonotonicity of IT is of significance for bank managers, as the study concludes that overinvestment in IT is detrimental to a bank’s profit-maximizing interests. Further, bank size, loan default and credit risk depict a nonmonotonic relationship across the sample with large banks, high NPAs and high credit risk associated with reducing profit efficiency. In addition, higher margins and greater diversification are related positively to efficiency, and banks with cost-heavy structures or having high liquidity risk associated negatively with efficiency.

To the best knowledge of the authors, the study is perhaps the first to acknowledge and incorporate nonmonotonic associations of IT investments amidst other exogenous determinants under a stochastic profit efficiency framework.

This paper aims to focus on the contribution of segregated renewable energy (RE) sources such as solar, wind, bagasse, biomass, small hydropower (SHP) and waste to heat in driving sustainable industrial production in India.

This study uses non-linear modelling techniques such as quantile regression and the non-linear Granger causality test to explore the interplay between segregated RE generation and industrial production in India.

The study findings support the role of segregated RE sources generation, especially SHP and bagasse, on industrial production in India. This paper finds unidirectional non-linear Granger causality running from segregated RE sources to industrial production. Bidirectional non-linear Granger causality has been established from biomass, waste-heat to index of industrial production and vice versa, supporting an asymmetric feedback hypothesis.

The study findings will aid the energy policymaker in framing policies for RE sources, especially bagasse-based and SHP generation for the sustainable industrial growth of India.

To the best of the authors’ knowledge, this is one of the first studies to explore the role of segregated RE sources generation to drive sustainable industrial growth in India using non-linear techniques.

The present research identifies a total of nine factors influencing tax avoidance under the international taxation regime of the developing countries and establishes a hierarchical relationship through modeling of the identified factors using modified-total interpretive structural modeling (M-TISM).

Due to “scale without mass” properties of the digital economy, businesses reduce their physical presence in the countries of economic activities. Aided with digital features, multinational enterprises (MNEs) avoid, abolish, or adopt flexible tax burden in the developing nations through by-passing the permanent establishment condition for company taxes or the income characterization prerequisite for royalty taxation. The present research endeavors to identify the drivers of tax avoidance in the developing countries, especially exacerbated due to digital technologies (economy). In addition, the authors also examine the hierarchical relation between the extracted drivers of tax avoidance.

This research presents a considerable driving force of elements like historical foundation of tax-treaties, dominance of the developed countries, influence of trade bodies in policy matters and finally information and communications technologies (ICTs).

Identified elements drive the actors like professional enablers, tax havens, international organizations, and intangible assets in the form of intellectual properties (IPs) which act upon tax arbitrage situations both under the domestic and treaty regulations, finally culminating into profit shifting, tax manipulations or avoidance.