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Article
Publication date: 5 February 2024

T.P. Arjun and Rameshkumar Subramanian

This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.

Abstract

Purpose

This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.

Design/methodology/approach

A systematic literature review (SLR) was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-analyses (PRISMA) protocol. Thirty-six articles published between 2010 and 2020 were considered for analysis. The FL conceptualisation was examined based on knowledge, ability, skill, attitude and confidence elements. The FL operationalisation was analysed using the modified version of the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) 2012 model for organising the domain for an assessment framework.

Findings

The findings indicate that, despite offering operationalisation details of the FL, 13 out of 36 studies did not include a conceptual definition of FL. Of the 23 studies that mentioned a conceptual definition, 87% are primarily focused on the “knowledge” element and only 39% have combined knowledge, ability/skill and attitude elements in defining FL. As in the developed countries, the Indian studies also preferred investment/saving-related contents in their FL measures. The volume of content focusing on the financial landscape is meagre amongst the FL measures used in India and developed countries. The survey instruments of most studies have been designed in the individuals’ context but have failed to measure the extent to which individuals apply the knowledge in performing their day-to-day financial transactions. Further, it was found that 20 out of 36 studies did not convert the FL level of their target groups into a single indicator or operational value.

Originality/value

To the best of our knowledge, this is the first study that explores the FL’s assessment practices in India. Further, this study offers new insights by comparing the contents of FL measures used in Indian studies with those used in developed countries.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 26 February 2024

Madhavarao Singuru, Kesava Rao V.V.S. and Rama Bhadri Raju Chekuri

This study aims to investigate the optimal process parameters of the wire-cut electrical discharge machining (WCEDM) for the machining of the GZR-AA7475 hybrid metal matrix…

Abstract

Purpose

This study aims to investigate the optimal process parameters of the wire-cut electrical discharge machining (WCEDM) for the machining of the GZR-AA7475 hybrid metal matrix composite (HMMC). HMMCs are prepared with 2 Wt.% graphite and 4 Wt.% zirconium dioxide reinforced with aluminium alloy 7475 (GZR-AA7475) composite by using the stir casting method. The objective is to enhance the mechanical properties of the material while preserving its unique features. WCEDM with a 0.18 mm molybdenum wire electrode is used for machining the composite.

Design/methodology/approach

To conduct experimental studies, a Taguchi L27 orthogonal array was adopted. Input variables such as peak current (Ip), pulse-on-time (TON) and flushing pressure (PF) were used. The effect of process parameters on the output responses, such as material removal rate (MRR), surface roughness rate (SRR) and wire wear ratio (WWR), were investigated. The grey relational analysis (GRA) is used to obtain the optimal combination of the process parameters. Analysis of variance (ANOVA) was also used to identify the significant process parameters affecting the output responses.

Findings

Results from the current study concluded that the optimal condition for grey relational grade is obtained at TON = 105 µs, Ip = 100 A and PF = 90 kg/cm2. Peak current is the most prominent parameter influencing the MRR, whereas SRR and WRR are highly influenced by flushing pressure.

Originality/value

Identifying the optimal process parameters in WCEDM for machining of GZR-AA7475 HMMC. ANOVA and GRA are used to obtain the optimal combination of the process parameters.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 4 April 2024

Priyanka Goyal and Pooja Soni

Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the…

Abstract

Purpose

Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the constantly developing subject of stock market volatility during crises. In outline, this study aims to map the extant literature available on stock market volatility during crisis periods.

Design/methodology/approach

The present study reviews 1,283 journal articles from the Scopus database published between 1994 and 2022, using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 flow diagram. Bibliometric analysis through software like R studio and VOSviewer has been performed, that is, annual publication trend analysis, journal analysis, citation analysis, author influence analysis, analysis of affiliations, analysis of countries and regions, keyword analysis, thematic mapping, co-occurrence analysis, bibliographic coupling, co-citation analysis, Bradford’s law and Lotka’s law, to map the existing literature and identify the gaps.

Findings

The literature on the effects of crises on volatility in financial markets has grown in recent years. It was discovered that volatility intensified during crises. This increased volatility can be linked to COVID-19 and the global financial crisis of 2008, as both had massive effects on the world economy. Moreover, we identify specific patterns and factors contributing to increased volatility, providing valuable insights for further research and decision-making.

Research limitations/implications

The present study is confined to the areas of economics, econometrics and finance, business, management and accounting and social sciences. Future studies could be conducted considering a broader perspective.

Originality/value

Most of the available literature has focused on the impact of some particular crises on the volatility of financial markets. The present study is not limited to some specific crises, and the suggested research directions will serve as a guide for future research.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 19 June 2023

Mandeep Singh, Khushdeep Goyal and Deepak Bhandari

The purpose of this paper is to evaluate the effect of titanium oxide (TiO2) and yttrium oxide (Y2O3) nanoparticles-reinforced pure aluminium (Al) on the mechanical properties of…

Abstract

Purpose

The purpose of this paper is to evaluate the effect of titanium oxide (TiO2) and yttrium oxide (Y2O3) nanoparticles-reinforced pure aluminium (Al) on the mechanical properties of hybrid aluminium matrix nanocomposites (HAMNCs).

Design/methodology/approach

The HAMNCs were fabricated via a vacuum die-assisted stir casting route by a two-step feeding method. The varying weight percentages of TiO2 and Y2O3 nanoparticles were added as 2.5, 5, 7.5 and 10 Wt.%.

Findings

Scanning electron microscope images showed the homogenous dispersion of nanoparticles in Al matrix. The tensile strength by 28.97%, yield strength by 50.60%, compression strength by 104.6% and micro-hardness by 50.90% were improved in HAMNC1 when compared to the base matrix. The highest values impact strength of 36.3 J was observed for HAMNC1. The elongation % was decreased by increasing the weight percentage of the nanoparticles. HAMNC1 improved the wear resistance by 23.68%, while increasing the coefficient of friction by 14.18%. Field emission scanning electron microscope analysis of the fractured surfaces of tensile samples revealed microcracks and the debonding of nanoparticles.

Originality/value

The combined effect of TiO2 and Y2O3 nanoparticles with pure Al on mechanical properties has been studied. The composites were fabricated with two-step feeding vacuum-assisted stir casting.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

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