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Parents are the first and leading socialization agents for young adults. It is vital to recognize the influence of perceived parental financial behaviour in shaping the financial literacy and investment behaviour of their children. In this context, this paper aims to test the perceived parental influence on financial literacy. Additionally, the direct and indirect influence of financial literacy on investment behaviour of young adults is examined.

This paper uses survey-based cross-sectional data. The partial least squares-structure equation model has been used to estimate and test the hypothesized relationships.

Perceived parental financial behaviour has been found to significantly impact the level of financial literacy. In turn, financial literacy positively influences the investment behaviour of young adults. Moreover, the young adults’ perception of confidence over ability to take right financial decisions drives their decision to invest.

The results of this study imply that there is a need to have planned interventions from policymakers to ensure that young adults are financially literate. This may require introduction of planned programmes or workshops at middle or senior school levels. These programmes should help young adults understand the need for focused and long-term investing in the absence of social benefits.

This study is one of the preliminary works to examine the perceived parental influence on young adults’ financial literacy and further linking these with actual investment behaviour.

Learning outcomes of this paper are to analyse, record and classify financial transactions; prepare unadjusted trial balance; record the adjustment and closing entries and prepare post-closing trial balance; and prepare financial statements.

The case aims to induce users to draw up financial statements from the details provided. The complete accounting process is covered through solving the case. The case follows a start-up company from its first set of financial transactions to preparing the first set of financial statements. The case will help in application of accounting concepts, principles and the processes for recording transactions and preparation of financial statements.

The case is best suited for senior undergraduate- and graduate-level students of management/business schools in the courses of introductory financial accounting, intermediate accounting and financial reporting.

Teaching notes are available for educators only.

CSS 1: accounting and finance.

The COVID-19 pandemic has severely impacted business and viability of firms in the hospitality sector. This paper aims to examine the impact of perceived vulnerability of employees in this sector related to job loss and satisfaction with life. Additionally, it tests whether the impact is reduced for an individual possessing high emotional and financial well-being.

This study uses cross-sectional data obtained through a survey of 312 hospitality sector employees. Using PLS-SEM, hypothesized relationships between constructs are tested.

Perceived vulnerability of job loss negatively impacts satisfaction with life; however, this negative impact gets significantly reduced in the presence of emotional and financial well-being.

The results provide an impetus to focus on emotional and financial well-being to reduce employees’ vulnerabilities and improve their life satisfaction. In the absence of specific relief programs by the Government and with reduced business activity, employers need to look for innovative ways for ensuring their own sustenance and employee well-being.

This study is one of the initial works on examining how perceived vulnerability of job loss induced by the pandemic on hospitality sector employees’ impacts their satisfaction with life. It also makes a novel attempt to examine emotional well-being and financial well-being, as mediators in this relationship.

After working through the case and assignment questions, the learning outcomes of this study are to understand the dividend policy of a company; compare different types of dividends that a company may give; assess the impact of stock splits and the issue of bonus shares (stock dividends); compare cash dividend and buy-backs as methods of cash distribution to shareholders; evaluate the methods of cash distribution that may be appropriate for the company; and assess the trade-off between long-term value creation and shareholder expectations.

This case study presents the dilemma faced by Partha DeSarkar, the executive director and global CEO of Hinduja Global Solutions (HGS) Limited, a leading business process management (BPM) company. The company would have surplus cash of about US$1.2bn from the selling of its health-care service businesses. The company planned to invest a part of this cashflow into the company’s future growth, with some of it distributed among its shareholders. This case study provides an excellent opportunity for students to determine the best method for rewarding the shareholders. It allows students to compare various cash distribution methods. Students can examine in detail the process involved, the quantum of distribution, tax implications, financial implications, fundraising flexibility and valuation impact of available options.

This case study is best suited for senior undergraduate- and graduate-level business school students in courses focusing on corporate finance, financial management, strategic management and investment banking.

Teaching notes are available for educators only.

CSS: 1 Accounting and Finance

Varanasi, an ancient city has witnessed the conversion of forest into agricultural lands. The high urbanization rate along with affluent lifestyle is adding another category of land use, i.e. landfill. Such land use changes significantly affect the fluxes of greenhouse gases (GHGs) from soil thus contributing to global warming. The purpose of this paper is to quantify the global warming potential (GWP) of the three land uses in Varanasi city taking into consideration CH₄ and CO₂.The paper also highlights the land use pattern of Varanasi.

Sites representing land uses under forest, agriculture and landfill were identified in and around the city and measurements of GHG fluxes were conducted periodically using closed static chambers. The GWP from each land use was calculated using the standard formula of IPCC (2007).

Landfill was found to be the land use with the highest GWP followed by agriculture. GWP from forest was negative. The study indicated that conversion of natural ecosystems into man made ecosystems contributed significantly to GHGs emissions.

The present research is a seasonal study with inherent uncertainties. To reduce the uncertainties long-term monitoring covering wider spatial area is required.

The sustainable use of land along with the increment of forest cover will not only reduce the contribution in GHGs emission, but will also increase the carbon sequestrations thus limiting the implication of climate change.

This study is the first of its kind comparing the soil borne emissions from three different land uses in a rapidly urbanizing ancient city, suggesting if there is rapid conversion of forested land into other two land uses there will be considerable increase in global warming. No similar studies could be found in the literature.

To investigate changes at molecular level in lac‐resole blends, occurring due to the effect of thermal stress at higher temperatures and different intervals of baking time.

Films of lac‐resole blends were applied on tin‐panels and baked at 200°C for different time intervals. The baked films were examined by specular reflectance spectroscopy, as they were otherwise difficult to examine through conventional IR techniques, using KBr pellet method. The results obtained were compared and reported.

When lac‐resole blends are baked at 200°C, in addition to possible chromic ring structures, esters linkages are formed between lac and resole molecules through cross linkages among different reactive sites of lac and PF resin. Blend of 70 per cent lac: 30 per cent resole, baked at 200°C for 20 min was found to be the best in terms of different physico‐chemical properties.

Lac‐synthetic resin blends are structurally complex in nature. Chemical researches on such blends have been typically limited due to lack of modern tools. The present method, to determine molecular level changes in lac‐resole blends due to heating effects, using state‐of‐the‐art instrumentation and computational techniques, opens a new field for research and industry.

Lac and its blends retain their significance in the surface coatings and food applications, in the formulation of lacquers, varnishes and in the finishing industry. This study could have significant implication for such industries from application point of view.

As of now, there is no report of specular reflectance data on lac‐synthetic resin blends. This paper represents the first attempt to obtain and correlate reflectance data on such blends. It also highlights the convenience of the method and the scope of sophisticated data analysis, including derivative spectrometry.

This paper aims to investigate the impact of board characteristics on CEO turnover performance relationship (TPR) in Indian listed firms.

A subset of the Standard and Poor’s Bombay Stock Exchange 500 (S&P BSE 500) Index companies was analyzed over the period 2015–2019 using the logistic (fixed-effects) regression model.

It was found that a weak relationship exists between CEO turnover and firm performance. With respect to board characteristics, board size was found to have a significant role in strengthening the TPR. However, other characteristics, such as board independence, multiple directors, board meetings and board gender diversity, played no role in influencing the TPR.

First, the study period is limited to five years, during which several sample firms did not face any CEO turnover event leading to small sample size. Second, this study considers only the board’s gender diversity, whereas other types of diversity are omitted. Third, this study does not differentiate between insider and professional CEOs.

The findings suggest that regulators should focus on the effective enforcement of laws to strengthen the TPR and improve the monitoring role of boards, particularly in emerging economies like India, which face type II agency problems in addition to traditional principal–agent conflict. The results also offer implications for corporations, investors and academic researchers, highlighting areas that need considerable attention pertaining to corporate governance.

This study discerns the impact of several board-related characteristics on the TPR, particularly after the introduction of the new Companies Act 2013 in the emerging economy of India, where it has not been explored extensively.