Department Of Financial Administration

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    User�s Satisfaction Level on Physical Facilities and Services Available in the Library: With Special Reference to Francis Xavier Engineering College, Tirunelveli District, Tamil Nadu
    (University of Idaho Library, 2021-03-19T00:00:00) Murthy, A.Ganesa; Mani, M.; Eronius, A.
    Due to the information explosion in the modern world, people are craving knowledge, and libraries worldwide face a tough challenge to meet their needs. The library, as an organization, is undergoing a multi-dimensional change. Only by satisfying the needs of its users, a library can justify its existence. All the services provided by the library are for the benefit of the users. The study�s objective is to determine the user�s satisfaction level with different physical facilities available and services provided in the library. The primary data were collected from 100 respondents using library facilities in Francis Xavier Engineering College, Tirunelveli District, Tamil Nadu. I used Kruskal-Walis and Dunn�s pair wise test to find out the result of the study. It concluded that there is no significant difference in users� satisfaction levels concerning various physical facilities available and services except the service of CD-ROM search facilities available in the library. � 2021
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    Testing of Random Walk Hypothesis in the Cryptocurrency Market
    (Sage Publications India Pvt. Ltd, 2022-05-30T00:00:00) Verma, Ruchita; Sharma, Dhanraj; Sam, Shiney
    Cryptocurrency as a financial asset has emerged as a fad among investors, academicians and policymakers alike. In a financial purview, this study intends to empirically test the behaviour of the cryptocurrency return, inferring its market efficiency. For this purpose, daily data of five cryptocurrencies (Bitcoin, Ethereum, Litecoin, Tether and Ripple) have been collected from 1 January 2016 to 31 March 2021 to investigate the well-known financial theory of random walk hypothesis for this young market. To provide statistical evidence and ensure the robustness of results, analysis is performed using the variance ratio test, augmented Dickey�Fuller test, Philip�Perron test, Breusch�Godfrey serial correlation LM test and ARIMA model. The statistical results illustrated strong evidence refuting the presence of the random walk hypothesis in this emerging market, thus implying inefficiency in the cryptocurrency market. Furthermore, the absence of random walk in the cryptocurrency makes this financial asset predictable, giving investors an arbitrage edge to earn abnormal gains using trading strategies, which is euphoria. � 2022 Fortune Institute of International Business.
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    Relationship between Bank-Specific Factors and Non-Performing Assets of Indian Banks during post Global Financial Crisis Era
    (Indian Institute of Finance, 2022-06-01T00:00:00) Verma, Ruchita; Sharma, Dhanraj; Sharma, Shubham; Sam, Shiney
    The study aims to analyze the relationship between Bank-specific factors and Non-Performing Assets (NPAs) of the Indian banks. The sample of the study consists of 21 public sector and 19 private sector banks which accounted for 96.42% of banking operation in India and were continuously in existence for the study period of 10 years i.e. from 2009-10 to 2018-19.The study considered NPAs as dependent variable and used bank-specific indicators as independent variables. The study found concentration of NPAs and advances in public sector banks and higher concentration in private sector bank. Further, based on stability based classification, the study found Induslnd bank; Nainital bank and Yes Bank are the highly unstable banks in Indian banking sector. Using panel data regression approach, the result shows that NPAs can be managed efficiently by improving Return on Assets and Credit Deposit Ratio. � Indian Institute of Finance.
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    Competitor orientation and SME performance in competitive environments: the moderating effect of marketing ethics
    (Emerald Publishing, 2022-06-03T00:00:00) Al-Hakimi, Mohammed A.; Saleh, Moad Hamod; Borade, Dileep B.; Hasan, Murad Baqis; Sharma, Dhanraj
    Purpose: Although competitor orientation (CO) has been given great attention, its link to firm performance (FP) is still unclear. The reason behind this may be attributed to the fact that the CO�FP relationship depends on several contingencies. The purpose of this paper is to simultaneously explore the separate and combined moderating effects of marketing ethics (ME) and competitive intensity (CI) in the CO�FP relationship. Design/methodology/approach: The participants in this study were managers or owners from 289 manufacturing SMEs located in two regions in Yemen (i.e. Sana�a and Taiz). Hierarchical regression analysis using PROCESS Macro V. 3.5 in SPSS was performed to analyze the data collected. Findings: The obtained results reveal that ME in fact positively moderates the CO�FP relationship and, importantly, this effect is not influenced by CI. Practical implications: The findings of this paper provide advantageous insights for managers and decision-makers for SMEs as it is expected that they demonstrate a greater commitment to the practice of ME in their firms. This has implications that with the practice of ME, it is expected that SMEs will be able to use the full potential of CO to improve their performance at a low level of CI. Originality/value: This study contributes to widening the studies on CO, ME, CI and SMEs in a different context. In addition, it adds to the knowledge by exploring the combined moderating influence of internal (e.g. ME) and external factors (e.g. CI) when examining the CO�FP relationship. � 2022, Emerald Publishing Limited.
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    Relationship among Environmental Performance, R&D Expenditure and Financial Performance: Evidence from Indian Manufacturing Firms
    (Sage Publications India Pvt. Ltd, 2022-10-13T00:00:00) Verma, Ruchita; Sharma, Dhanraj; Priyanka
    The study is conducted to analyse the effect of environmental performance on the financial performance of 67 Indian manufacturing listed companies, categorized into most polluting and least polluting companies for the period of 7 years i.e. from 2014�15 to 2020�21. The present study has employed environmental performance as independent variable measured by various environmental performance measures. The content analysis has been conducted to estimate the environmental performance scores. The study covers both measures of financial performance, i.e. accounting-based measures (Return on Equity) and market-based performance measures (Market to Book value ratio) as dependent variables. The control variables used in the study are ownership structure (promoter ownership, institutional ownership and foreign ownership), firm size, leverage ratio, firm age and sale to asset ratio. By using the feasible generalized least square method, the study found a positive association of environmental performance with financial performance of both categories of companies. In contrast, an adverse effect of research and development expenditure on performance has been observed. The study witnessed the moderating impact of research and development expenditure on the relationship between environmental and financial performance. The study found the mixed effect of ownership structure on the financial performance of manufacturing companies. � 2022 International Management Institute, New Delhi.
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    STOCK MARKET REACTION TO COVID-19 PANDEMIC: An Empirical Analysis of Major Global Indices
    (Nigerian Economic Society, 2022-11-30T00:00:00) Verma, Ruchita; Sharma, Dhanraj; Sam, Shiney
    The present study examined the behaviour of the ten major stock indices with the highest market capitalization in the global financial market during the COVID-19 pandemic, using an event study approach. Further, the abnormal returns (AR) from the event study are regressed on the death cases due to COVID-19, on returns of selected stock indices, and on market returns to obtain more robust results. The results revealed that all the major indices were affected by the lockdown announcement in their respective countries and continued to yield negative abnormal returns during the lockdown phase, except the Hang Sheng Index of Hong Kong. The opposite reaction of the investors in Hong Kong led to an unperturbed Hang Sheng stock market amid a global crisis. Findings will help investors understand the behaviour of major stock indices during a crisis period and enable them prepare their portfolios accordingly to withstand risky periods. Also, investors' attitudes towards investment risk can make a notable difference in the economy. � 2022, Nigerian Economic Society. All rights reserved.
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    An Evaluation of Cashless Transactions During Pre-and Post-Demonetization Era in India
    (Springer International Publishing, 2023-01-01T00:00:00) Sharma, Dhanraj; Verma, Ruchita; Singh, Heavendeep
    On 8 November 2016, Prime Minister Narendra Modi announced �demonetization� to weed out black money from the country. The move, which saw Rs 500 and Rs 1000 denominations� currency notes being banned, wiped out 86% of India�s currency overnight. The primary purpose of the research paper is to evaluate and compare the cashless transactions during the pre- and post-demonetization periods in India. For this purpose, we used the variables such as NEFT, RTGS, and Mobile Banking transactions in terms of inward and outward transactions in private, public, and all banks in India by using a non-parametric test Wilcoxon Signed Ranks Test. The data are collected from the database of RBI for the study period of June 2012 to March 2021 which is further classified as the Pre-Demonetization era (June 2012 to October 2016) and Post-Demonetization era (November 2016 to March 2021). The study results show a significant positive increase during the post-demonetization period in all classifications of banks for all the selected instruments of cashless transactions. The present study contributes to the existing literature as it attempts to understand the drastic change in the trends of cashless transactions during the post-demonetization era. � The Author(s), under exclusive license to Springer Nature Switzerland AG 2023.
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    Cryptocurrency Market Anomaly: The Day-of-the-Week-Effect
    (Indian Institute of Finance, 2023-03-31T00:00:00) Verma, Ruchita; Sharma, Dhanraj; Sam, Shiney
    Cryptocurrency has emerged as a fad amongst investors, academicians and policy-makers as a financial asset, making it important to empirically test the price behaviour of this emerging market. This paper is designed to investigate the presence of a well-known day-of-the-week effect in the young and emerging cryptocurrency market returns from August 2015 to March 2019. Using varied statistical techniques, this anomaly is examined for six cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, Stellar and Tether). The study applies both parametric and non-parametric statistical tests, i.e.,Bar Graph, Heat map, Student�s t-test, Analysis of Variance (ANOVA),regression analysis with dummy variables and the Kruskal Wallis Test. The study�s findings show that no sample cryptocurrency returns exhibit the day-of-the-week effect phenomenon.The statistically insignificant result of the day-of-the-week effect in thecryptocurrency returns showcases the evidence of market efficiency in the cryptocurrency market. � Indian Institute of Finance.
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    Does Google Trend Affect Cryptocurrency? An Application of Panel Data Approach
    (SCMS Group of Educational Institutions, 2023-04-03T00:00:00) Verma, Ruchita; Sam, Shiney; Sharma, Dhanraj
    Cryptocurrency has emerged globally as the most profitable investment asset of the decade. The media exposure and reportage on cryptocurrency are frequent, and it seems that prices of cryptocurrencies could only rise higher. In today's digital world, any individual's first go-to information-seeking platform is the Google search engine. Thus, it is imperative to understand how Google's search trend affects an investable asset and its market as a whole. Researchers have explored varied sentiment measurement proxies such as news coverage, Facebook and Twitter posts, and, most importantly, Google searches. Numerous research studies show increasing interest in Google search volume and its predictive ability to understand investment returns and economic outcomes. In a behavioural finance context, the present research uses Pearson's correlation and panel regression to examine the association of cryptocurrency returns (Bitcoin, Ethereum, and Ripple) and their varied characteristics with the Google search intensity. The study's findings reveal that investors searching for information on Cryptocurrency online drive the price increase in cryptocurrency and push the trading volume up and increase the volatility of the cryptocurrency returns. Furthermore, investor sentiment has a statistically significant impact on cryptocurrencies' trading volume and weekly volatility in periods of high or greedy investor sentiment. The findings imply that the 'price pressure hypothesis' given by Barber and Odean (2008) as a stock market research finding is also present in the cryptocurrency market. � 2023 SCMS Group of Educational Institutions. All rights reserved.
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    A STUDY ON ROLE OF FINTECH SERVICES IMPACT OF BUSINESS GROWTH SELECTED A PUBLIC SECTOR BANK IN PUNJAB; [UM ESTUDO SOBRE O IMPACTO DOS SERVI�OS DE FINTECH NO CRESCIMENTO DE NEG�CIOS SELECIONOU UM BANCO DO SETOR P�BLICO NO PUNJAB]; [UN ESTUDIO SOBRE EL PAPEL DEL IMPACTO DE LOS SERVICIOS FINTECH EN EL CRECIMIENTO EMPRESARIAL SELECCION� UN BANCO DEL SECTOR P�BLICO EN PUNJAB]
    (AOS-Estratagia and Inovacao, 2023-07-01T00:00:00) Kumar, Hareesh T.
    Purpose: The aim of this study is to examine the role of Fintech services in the growth of Selected National Bank's business. The study looked at the 3G and 4G eras, from 2008-09 through 2021-22. Theoretical Framework: The study main focus on banks are offering various services to their customer�s like Mobile banking, Internet banking, ATM and other services using 3G and 4G technology. These banks have heavy competition among themselves in providing latest and user friendly digital services to their customers to make them satisfy. Design/Methodology/Approach: The study took into account the six Fintech services related to business-to-customer. For the analysis of framed objectives, the study used a quantitative research approach. The study built the Banking Technology Index (BTI) using the six Fintech services and deemed it a proxy for the bank's operations. Findings: The study looked over the entire time period and discovered that all Fintech services have a beneficial impact on SNB's business growth. The study reveals that bank can improve the customer�s satisfaction that ultimately have the positive ripple effect on the business growth. Research, Practical & Social Implications: The study used bivariate correlation to measure the relationship of chosen Fintech services with the BTI and discovered that the majority of the services have a substantial positive link during the 3G and 4G periods. The OLS was employed to assess how Fintech services might affect BTI and it was discovered that in the 3G time, ATM influence was greater, while in the 4G period, credit cards played a critical part in SNB business growth. Originality/Value: The study provides the Fintech services during 3G and 4G period to the customer services Banking Technology Index, there is no literature that discusses the use of 3G and 4G services on modal to evaluate fintech banking services in the research area. As a result, the purpose of this paper is to make up for this void. � 2023 Spandidos Publications. All rights reserved.
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    Reaction of Indian Stock Market to Outbreak of COVID-19: An Empirical Analysis of Extreme Inter-day Movements
    (Sage Publications India Pvt. Ltd, 2023-10-07T00:00:00) Sharma, Dhanraj; Verma, Ruchita; Sam, Shiney; Sharma, Shubham
    The contagious COVID-19 pandemic has been considered a massive global crisis since World War II and has disturbed business and economic activities across the globe. The current study examined the reaction of the stock market�s to the outbreak of COVID-19, considering the extreme inter-day movements in the Indian stock market. The extreme inter-day movements in S&P CNX Nifty-50 have been identified during the study period from January 2020 to December 2021 and further classified into decline and gain events based on positive and negative announcements related to COVID-19. The study utilized an event study approach and panel regression for empirical investigation. The results of the event study analysis illustrate that the significant abnormal loss ranges from 12.86% to 2.47% for the major decline events and significant abnormal return from 8.43% to 3.23% for the gain events. The regression analysis results showed that real return and Central Bank Policy rate have a considerable impact on the abnormal returns during COVID-19. The study�s findings are helpful to policy implications that identified the need to focus on financial education and strengthen the health and finance-related policies to deal with such pandemics in the future. � 2023 MDI.
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    Powering the transition: examining factors influencing the intention to�adopt electric vehicles
    (Emerald Publishing, 2023-11-18T00:00:00) Thakur, Anand; Krishnan K, Jithin; Ansari, Alisha
    Purpose: The purpose of the study is to examine the factors that influence people's intention to adopt electric vehicles (EVs). The study used an expanded theory of planned behaviour (TPB) along with the addition of perceived trust and consideration of future consequences (CFC). Design/methodology/approach: The study is based on primary data collected from 282 respondents in Punjab through a questionnaire. The collected data were analysed using SPSS 26 and AMOS 24 to perform confirmatory factor analysis and structural equation modelling. Findings: The empirical analysis indicates that attitude, subjective norms and perceived trust have a significant influence on the adoption intention (AI) of EVs. Research limitations/implications: The implications provide policymakers and marketers with better insights into marketing EVs in the trajectory of sustainable mobility. Marketers should create focussed marketing materials that highlight the environmental ease of use, lower running costs and sophisticated technology of electric automobiles. The limitations of the study provide valuable insights for future researchers. Originality/value: This is the first study that uses CFC with the TPB model in the context of AI of EVs specifically for the Punjab region. � 2023, Emerald Publishing Limited.