{"title":"An examination of the Indian small-cap cycle in relation to the U.S. market","authors":"Avirup Hazra , Parthajit Kayal , Moinak Maiti","doi":"10.1016/j.iimb.2024.03.008","DOIUrl":"10.1016/j.iimb.2024.03.008","url":null,"abstract":"<div><p>The present study examines the Indian small-cap cycle between April 2011 and March 2022. The ordinary least squares (OLS) estimate shows that investors can benefit from investing in the Nifty Small-Cap 100 index by following a proper exponential moving average strategy. The study findings also highlighted that among macroeconomic factors, ‘term spread’ might influence the Nifty Small-Cap 100 index returns (NIFSC100R). The daily returns of the Russell 2000 index, the relative change in international crude oil prices (RCO), and the relative change in the exchange rate between USD and INR (RUSDINR) show no statistically significant impact on NIFSC100R.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 126-136"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389624000144/pdfft?md5=dda77594cc53b4d212deaf58b5271620&pid=1-s2.0-S0970389624000144-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140407348","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Adoption of artificial intelligence in financial services: The case of robo-advisors in India","authors":"Shumaila Fatima, Madhumita Chakraborty","doi":"10.1016/j.iimb.2024.04.002","DOIUrl":"10.1016/j.iimb.2024.04.002","url":null,"abstract":"<div><p>Robo-advisors are still in their nascent stages of use, and this technology has yet to find wider acceptance with investors. Our study extends the domain of technology acceptance to robo-advisors by identifying the drivers of investor adoption. Investment decisions carry high risks; thus, there is a greater need to understand investor behaviour to adopt robo-advisors. Trust, anxiety, performance expectancy, and preference for human advisors are used as variables to predict investors’ intentions. PLS-SEM is employed to examine the data with a sample size of 445 investors. Results suggest that all these variables play a significant role in determining the behavioural intention of investors towards the adoption of robo-advisors.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 113-125"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S097038962400048X/pdfft?md5=b0ffbb4034b8b4de1c912396889b8fde&pid=1-s2.0-S097038962400048X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140763362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Investigating the effect of organisational values on sustainable practices and the moderating role of family influence in Indian SMEs","authors":"Subrata Mitra","doi":"10.1016/j.iimb.2023.04.001","DOIUrl":"10.1016/j.iimb.2023.04.001","url":null,"abstract":"<div><p>In this paper, we investigate the effect of organisational values/culture on sustainable practices in Indian SMEs, and observe that organisational values/culture positively affect waste disposal/recycling, and employee-related social practices. Further, employee-related social practices act as a mediating variable between organisational values/culture, and firms’ environmental and community-related social practices. We also examine the moderating role of family influence and observe that for family SMEs, the effects of organisational values/culture on waste disposal/recycling, and employee-related social practices are stronger than those for non-family SMEs. The paper concludes by highlighting the implications and limitations of the study, and possible directions for future research.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 99-112"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389623000289/pdfft?md5=2320e362f1214c28e4e710a05e0b8ef9&pid=1-s2.0-S0970389623000289-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42719766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does investor base affect the firm-level ex-ante cost of equity capital?","authors":"Jains P Chacko , Lakshmi Padmakumari","doi":"10.1016/j.iimb.2024.04.003","DOIUrl":"10.1016/j.iimb.2024.04.003","url":null,"abstract":"<div><p>This research investigates how investor base affects the cost of equity capital (COE) in Indian companies, particularly in market conditions with weak investor protection and increased ownership concentration by promoters and families. Using ordinary least squares (OLS), panel fixed effects, and two-step system generalised method of moments (GMM) analysis on data spanning from 2016 to 2021, we discovered that a dispersed ownership structure is linked to a higher ex-ante COE. Our findings indicate that companies with dispersed shareholders have less motivation to monitor managers, which leads to the expropriation of minority shareholders and results in higher COE.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 146-156"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389624000491/pdfft?md5=c385a61cc508bff9cc0e39f55b06e0fa&pid=1-s2.0-S0970389624000491-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140772911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Douglas da Rosa München , Herbert Kimura , Eduardo Kazuo Kayo
{"title":"Which banks’ business operations are more risky? The impact of leverage on Brazilian financial institutions","authors":"Douglas da Rosa München , Herbert Kimura , Eduardo Kazuo Kayo","doi":"10.1016/j.iimb.2024.03.005","DOIUrl":"10.1016/j.iimb.2024.03.005","url":null,"abstract":"<div><p>We analyse the effect of leverage components and banks’ ‘business model channels’ on risk-taking for Brazilian banks. Using a detailed dataset from the Brazilian financial system, the results show that the measurement of leverage components is relevant for determining banks’ risk. We highlight two important findings. First, we provide novel insights for the design of a generalised method of moments (GMM) estimation using external instruments. Second, the derivative and on-balance-sheet operations are risky for investment and foreign banks. These results provide important information for banking supervision and regulation and bring new insights regarding banks’ leverage behaviour.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 157-170"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389624000119/pdfft?md5=e087e34bf2c266b0f414ac518412bdd3&pid=1-s2.0-S0970389624000119-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140276727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Consumer behaviour under dual quality of products: Does testing reveal what consumers experience?","authors":"Lucia Bartková, Lenka Veselovská","doi":"10.1016/j.iimb.2024.05.001","DOIUrl":"10.1016/j.iimb.2024.05.001","url":null,"abstract":"<div><p>The main aim of this paper is to explore the relationship between the nature of products tested to reveal dual quality and customers’ experiences, and for individual organisations to arrive at important guidelines for future solutions to the problem. The data used in this study were provided by the first nationwide survey conducted on a sample of 987 consumers throughout the Slovak Republic. Based on the experiences and opinions of consumers, recommendations were formulated for brand owners offering products with dual quality. Knowing the opinions of consumers will allow companies to adapt their offerings to the market.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 171-184"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S097038962400051X/pdfft?md5=8c41473d33f257f42a7f3d5e04c042a9&pid=1-s2.0-S097038962400051X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141141118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Crude oil price, manufacturing index, and consumer price index: Is there any temporal link in India?","authors":"Utpal Kumar De , Girijasankar Mallik","doi":"10.1016/j.iimb.2024.03.007","DOIUrl":"10.1016/j.iimb.2024.03.007","url":null,"abstract":"<div><p>In this paper, the autoregressive distributive lag (ARDL) model is used to examine the impact of global crude oil price on manufacturing output in India and the behaviour of consumer price index. Error correction model, co-integration and multivariate GARCH model models are used for the analysis. ARDL analysis shows a significant relation between consumer price index (CPI) and manufacturing index (MI). Also, a significant inverse relation is established between crude oil price with MI and a positive relation between MI and CPI. Despite an inconsistent short run relation between petrol price with CPI, rising fuel price shows dampening impact on manufacturing output in the long run.</p></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 2","pages":"Pages 137-145"},"PeriodicalIF":1.7,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0970389624000132/pdfft?md5=2fddf0bde2dc8c7cc346715b36d17012&pid=1-s2.0-S0970389624000132-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140402602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kapil Gupta, Vijayshankar Krishnamurthy, Soudeep Deb
{"title":"What elements of the opening set influence the outcome of a tennis match? An in-depth analysis of Wimbledon data","authors":"Kapil Gupta, Vijayshankar Krishnamurthy, Soudeep Deb","doi":"10.1016/j.iimb.2024.03.002","DOIUrl":"https://doi.org/10.1016/j.iimb.2024.03.002","url":null,"abstract":"This study examines the importance of game elements of the first set in Wimbledon matches in deciding the match outcome. We propose a LASSO-induced logistic regression model based on first set data to identify the variables that impact the match outcome. Our findings indicate that winning service points, average distance travelled, and rating points significantly impact match outcome. Additionally, we show the effectiveness of our proposed model in within-match forecasting during the first set, and it frequently performs better than other statistical and machine-learning approaches. We also discuss important managerial applications of our methodology for players, coaches, and other stakeholders.","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"24 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140154323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Set of Linearized Partially-Parallel Splitting Methods for Separable Convex Programs","authors":"Jitamitra Desai, Kai Wang","doi":"10.1016/j.iimb.2024.03.001","DOIUrl":"https://doi.org/10.1016/j.iimb.2024.03.001","url":null,"abstract":"The proximal partially-parallel splitting method (PPSM), originally proposed in Wang et al. (2017), is a hybrid mechanism that inherits the nice properties of both Gauss-Seidel and Jacobian substitution procedures for solving the multiple-block convex minimization problem, whose objective function is the sum of individual (separable) functions without any shared variables, subject to a linear coupling constraint. In this paper, we extend this work and present some of the PPSM, which fully utilize the separable structure and result in subproblems that either have closed-form solutions or are relatively easy to solve as compared to their original nonlinear versions. Global convergence of these linearized methods under the projection contraction algorithmic framework is proven, and furthermore, detailed remarks that serve to clarify the interconnections between these linearized variants are highlighted. Finally, the worst-case convergence rate of these methods under ergodic conditions is also established.","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"123 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140154320","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}