Pub Date : 2025-12-01DOI: 10.1016/j.iimb.2025.100615
Archana Patro , Geeti Mishra , Cheng-Hsun Lee
This study examines the association between ESG reporting and the cost of equity capital, focusing on the influence of Big 4 auditors. Using 2,454 firm-year observations in India from 2016 to 2021, we find that higher ESG scores relate to lower costs of equity capital. Also, the main analysis reveals that the presence of Big 4 auditors strengthens the negative association between ESG scores and the cost of equity capital. This supports the view that Big 4 auditors enhance investor confidence in the credibility of sustainability reporting, reducing the cost of equity capital. These findings are validated through various tests.
{"title":"The impact of ESG reporting on the cost of equity capital in India: The moderating role of external auditors","authors":"Archana Patro , Geeti Mishra , Cheng-Hsun Lee","doi":"10.1016/j.iimb.2025.100615","DOIUrl":"10.1016/j.iimb.2025.100615","url":null,"abstract":"<div><div>This study examines the association between ESG reporting and the cost of equity capital, focusing on the influence of Big 4 auditors. Using 2,454 firm-year observations in India from 2016 to 2021, we find that higher ESG scores relate to lower costs of equity capital. Also, the main analysis reveals that the presence of Big 4 auditors strengthens the negative association between ESG scores and the cost of equity capital. This supports the view that Big 4 auditors enhance investor confidence in the credibility of sustainability reporting, reducing the cost of equity capital. These findings are validated through various tests.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100615"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814432","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}
Pub Date : 2025-12-01DOI: 10.1016/j.iimb.2025.100620
Juhi Chatterjee , Rakesh Gomaji Nannewar , Tejal Kanitkar , R. Srikanth
On March 25, 2020, India imposed a nationwide lockdown to curb COVID-19, affecting agricultural operations in northern Karnataka’s rainfed districts. A survey of 1004 households revealed that 64% faced challenges accessing inputs, credit, and transport. In Bidar, 54% of respondents struggled with input supply disruptions, compared to 12% in Raichur. Additionally, 29% of respondents in Bidar and 33% in Raichur reported issues with timely credit access. These impacts varied by region, landholding, and social category. The study highlights the need for increased public agricultural expenditure, better technological tools, and strengthened supply chains and market access to mitigate such disruptions in the future.
{"title":"Impact of the COVID-19 lockdown on agriculture in a rainfed region in India: Lessons for dealing with natural and economic shocks","authors":"Juhi Chatterjee , Rakesh Gomaji Nannewar , Tejal Kanitkar , R. Srikanth","doi":"10.1016/j.iimb.2025.100620","DOIUrl":"10.1016/j.iimb.2025.100620","url":null,"abstract":"<div><div>On March 25, 2020, India imposed a nationwide lockdown to curb COVID-19, affecting agricultural operations in northern Karnataka’s rainfed districts. A survey of 1004 households revealed that 64% faced challenges accessing inputs, credit, and transport. In Bidar, 54% of respondents struggled with input supply disruptions, compared to 12% in Raichur. Additionally, 29% of respondents in Bidar and 33% in Raichur reported issues with timely credit access. These impacts varied by region, landholding, and social category. The study highlights the need for increased public agricultural expenditure, better technological tools, and strengthened supply chains and market access to mitigate such disruptions in the future.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100620"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814427","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}
This paper presents a reflexive policy analysis of entrepreneurship policy, combining insights from scholarly thinking and an empirical examination of India’s Startup India initiative. We contribute to the literature on organisational sponsorship by proposing two new mechanisms, bearing and breezing, to address challenges posed by entrepreneurial experimentation and Knightian uncertainty. By integrating economic and organisational theory perspectives, we highlight gaps in existing policy frameworks, including their limited appreciation of entrepreneurship’s complexity, diversity, and contextual nature. Our thematic analysis of India’s policy instruments identifies an excessive reliance on financial incentives and narrow definitions, offering actionable recommendations for fostering inclusive, dynamic entrepreneurial ecosystems.
{"title":"Taming the beast versus nurturing the beast: Rethinking entrepreneurship policy","authors":"Manjunath Agalagurki Nagaraj , Kothandaram Kumar , Vinay Reddy Venumuddala , Aman Bhuwania","doi":"10.1016/j.iimb.2025.100617","DOIUrl":"10.1016/j.iimb.2025.100617","url":null,"abstract":"<div><div>This paper presents a reflexive policy analysis of entrepreneurship policy, combining insights from scholarly thinking and an empirical examination of India’s Startup India initiative. We contribute to the literature on organisational sponsorship by proposing two new mechanisms, bearing and breezing, to address challenges posed by entrepreneurial experimentation and Knightian uncertainty. By integrating economic and organisational theory perspectives, we highlight gaps in existing policy frameworks, including their limited appreciation of entrepreneurship’s complexity, diversity, and contextual nature. Our thematic analysis of India’s policy instruments identifies an excessive reliance on financial incentives and narrow definitions, offering actionable recommendations for fostering inclusive, dynamic entrepreneurial ecosystems.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100617"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814426","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}
Pub Date : 2025-12-01DOI: 10.1016/j.iimb.2025.100614
Abhijit Biswas , Chetan G K , Arindam Das
In the Indian context, the study attempts to examine a bank’s asset quality, CSR activities, and profitability nexus. Findings reveal that the impacts of a bank’s asset quality and CSR activities on its profitability are positive and negative respectively. Interestingly, it is found that the positive relationship between the asset quality and profitability gets negatively moderated by the CSR activities. The trade-off theory helps explain the negative impact of CSR activities on profitability and the negative moderation impact of CSR activities on the positive nexus between asset quality and profitability. The savings in operating costs and lower provisions for NPAs that result from good asset quality provide a plausible explanation for the positive impact of asset quality on profitability.
{"title":"Asset quality, CSR, and profitability nexus in Indian banks: The moderating impact of CSR","authors":"Abhijit Biswas , Chetan G K , Arindam Das","doi":"10.1016/j.iimb.2025.100614","DOIUrl":"10.1016/j.iimb.2025.100614","url":null,"abstract":"<div><div>In the Indian context, the study attempts to examine a bank’s asset quality, CSR activities, and profitability nexus. Findings reveal that the impacts of a bank’s asset quality and CSR activities on its profitability are positive and negative respectively. Interestingly, it is found that the positive relationship between the asset quality and profitability gets negatively moderated by the CSR activities. The trade-off theory helps explain the negative impact of CSR activities on profitability and the negative moderation impact of CSR activities on the positive nexus between asset quality and profitability. The savings in operating costs and lower provisions for NPAs that result from good asset quality provide a plausible explanation for the positive impact of asset quality on profitability.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100614"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814424","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}
Pub Date : 2025-12-01DOI: 10.1016/j.iimb.2025.100618
Swapnarag Swain , Anees Ahmad , Sreelekha Mishra
Drawing on the Stimulus-Organism-Response theory, this study examines how patients’ perception of the hospital accreditation quality standards influences their loyalty to accredited hospitals. A survey was administered among 290 patients admitted to four accredited tertiary care hospitals. The conceptual framework was tested using structural equation modelling. Results suggest that patients’ perception of patient-centred standards and hospital organisation management standards influences trust, leading to their commitment, which finally results in loyalty to accredited hospitals. The findings indicate a partial but significant mediating role of trust and commitment while predicting patient loyalty. It provides insights to hospital quality and marketing managers.
{"title":"Examining the impact of perceived hospital accreditation quality standards on patient loyalty: A Stimulus-Organism-Response theory perspective","authors":"Swapnarag Swain , Anees Ahmad , Sreelekha Mishra","doi":"10.1016/j.iimb.2025.100618","DOIUrl":"10.1016/j.iimb.2025.100618","url":null,"abstract":"<div><div>Drawing on the Stimulus-Organism-Response theory, this study examines how patients’ perception of the hospital accreditation quality standards influences their loyalty to accredited hospitals. A survey was administered among 290 patients admitted to four accredited tertiary care hospitals. The conceptual framework was tested using structural equation modelling. Results suggest that patients’ perception of patient-centred standards and hospital organisation management standards influences trust, leading to their commitment, which finally results in loyalty to accredited hospitals. The findings indicate a partial but significant mediating role of trust and commitment while predicting patient loyalty. It provides insights to hospital quality and marketing managers.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100618"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814429","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}
Pub Date : 2025-12-01DOI: 10.1016/j.iimb.2025.100616
Mahika Gandhi , Debasis Rooj , Reshmi Sengupta
This paper examines the impact of increasing bank branches in a district on the stock market participation of households. Using household-level data from the 70th and 77th rounds of the National Sample Surveys, we find that households’ decision to participate in the stock market increases significantly when the number of bank branches in their district increases. The subsample analysis shows that an increase in bank branches has a greater impact in rural areas than urban areas. Also, OBC families and household heads with graduate-level or higher education are the primary beneficiaries of increased banking services on stock market participation.
{"title":"Impact of banking penetration on stock market participation: A district-level analysis","authors":"Mahika Gandhi , Debasis Rooj , Reshmi Sengupta","doi":"10.1016/j.iimb.2025.100616","DOIUrl":"10.1016/j.iimb.2025.100616","url":null,"abstract":"<div><div>This paper examines the impact of increasing bank branches in a district on the stock market participation of households. Using household-level data from the 70<sup>th</sup> and 77<sup>th</sup> rounds of the National Sample Surveys, we find that households’ decision to participate in the stock market increases significantly when the number of bank branches in their district increases. The subsample analysis shows that an increase in bank branches has a greater impact in rural areas than urban areas. Also, OBC families and household heads with graduate-level or higher education are the primary beneficiaries of increased banking services on stock market participation.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100616"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814431","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}
In this study, we analyse the impacts of the upper and lower macroeconomic regimes on leverage adjustment. We have selected manufacturing firms from emerging economies for the period of 2012-2022. The dynamic panel threshold model determines the upper and lower regimes for different macroeconomic variables. We used the partial adjustment model and dynamic panel fractional estimator to analyse the leverage speed of adjustment (SOA). Our findings reveal that macroeconomic variables are significant leverage determinants, firms present leverage SOA heterogeneity across countries and macroeconomic regimes, and financially flexible firms tend to have higher SOA than constrained firms in upper and lower macroeconomic regimes.
{"title":"Leverage adjustment analytics: Effect of macroeconomic conditions on emerging economies","authors":"Ravindra Nath Shukla , Vishal Vyas , Ankur Roy , Animesh Chaturvedi","doi":"10.1016/j.iimb.2025.100619","DOIUrl":"10.1016/j.iimb.2025.100619","url":null,"abstract":"<div><div>In this study, we analyse the impacts of the upper and lower macroeconomic regimes on leverage adjustment. We have selected manufacturing firms from emerging economies for the period of 2012-2022. The dynamic panel threshold model determines the upper and lower regimes for different macroeconomic variables. We used the partial adjustment model and dynamic panel fractional estimator to analyse the leverage speed of adjustment (SOA). Our findings reveal that macroeconomic variables are significant leverage determinants, firms present leverage SOA heterogeneity across countries and macroeconomic regimes, and financially flexible firms tend to have higher SOA than constrained firms in upper and lower macroeconomic regimes.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 4","pages":"Article 100619"},"PeriodicalIF":1.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145814430","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}
Pub Date : 2025-09-01DOI: 10.1016/j.iimb.2025.100595
Srivardhini K. Jha , Anilesh Seth
This article explores the evolving landscape of Global Capability Centres (GCCs) in India, highlighting their shift from cost arbitrage units to strategic hubs of innovation and value creation. Drawing on a roundtable discussion with industry leaders, it examines key themes including locational shifts, leadership strategies, talent challenges, and the impact of emerging technologies like GenAI. The article offers insights into how GCCs can navigate increasing complexity and global competition while strengthening their role within multinational enterprises. It also discusses implications for business schools in shaping the next generation of GCC leadership.
{"title":"Global Capability Centres: Emerging Opportunities and Challenges","authors":"Srivardhini K. Jha , Anilesh Seth","doi":"10.1016/j.iimb.2025.100595","DOIUrl":"10.1016/j.iimb.2025.100595","url":null,"abstract":"<div><div>This article explores the evolving landscape of Global Capability Centres (GCCs) in India, highlighting their shift from cost arbitrage units to strategic hubs of innovation and value creation. Drawing on a roundtable discussion with industry leaders, it examines key themes including locational shifts, leadership strategies, talent challenges, and the impact of emerging technologies like GenAI. The article offers insights into how GCCs can navigate increasing complexity and global competition while strengthening their role within multinational enterprises. It also discusses implications for business schools in shaping the next generation of GCC leadership.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 3","pages":"Article 100595"},"PeriodicalIF":1.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145108752","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}
Pub Date : 2025-09-01DOI: 10.1016/j.iimb.2025.100589
Kundan Kandhway
We present a method to rank cricket players based on the node centrality concept from network science. We create batsmen-bowlers bipartite networks with edge weights based on performance metrics such as average, strike rate, etc. Then, modifications of the standard Katz and PageRank centrality measures are proposed to assign centrality scores to the nodes of these weighted bipartite networks. We tested our approach on the ODI and T20 data of the last two decades to come up with the rank of the players based on their performance during this period.
{"title":"A network science-based approach to rank cricket players","authors":"Kundan Kandhway","doi":"10.1016/j.iimb.2025.100589","DOIUrl":"10.1016/j.iimb.2025.100589","url":null,"abstract":"<div><div>We present a method to rank cricket players based on the node centrality concept from network science. We create batsmen-bowlers bipartite networks with edge weights based on performance metrics such as average, strike rate, etc. Then, modifications of the standard Katz and PageRank centrality measures are proposed to assign centrality scores to the nodes of these weighted bipartite networks. We tested our approach on the ODI and T20 data of the last two decades to come up with the rank of the players based on their performance during this period.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 3","pages":"Article 100589"},"PeriodicalIF":1.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145108755","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}
Pub Date : 2025-09-01DOI: 10.1016/j.iimb.2025.100592
Somdeep Chatterjee , Oindrila Dey
This paper studies the possible existence of a Samaritan’s Dilemma associated with in-kind transfers in the form of distribution of free books and uniforms to elementary school students in India. Using propensity score matching methods, we show that despite the transfer being in-kind, there are perverse consequences on learning levels of recipient children compared to non-recipients. These findings are supported by a theoretical model suggesting that absence of conditionality in transfer entails low returns from exerting efforts for learning. A direct design implication is to focus on the conditionality of the transfer regardless of its nature viz., cash or kind.
{"title":"Conditionality matters: A Samaritan’s Dilemma with in-kind transfers targeting educational attainment","authors":"Somdeep Chatterjee , Oindrila Dey","doi":"10.1016/j.iimb.2025.100592","DOIUrl":"10.1016/j.iimb.2025.100592","url":null,"abstract":"<div><div>This paper studies the possible existence of a Samaritan’s Dilemma associated with in-kind transfers in the form of distribution of free books and uniforms to elementary school students in India. Using propensity score matching methods, we show that despite the transfer being in-kind, there are perverse consequences on learning levels of recipient children compared to non-recipients. These findings are supported by a theoretical model suggesting that absence of conditionality in transfer entails low returns from exerting efforts for learning. A direct design implication is to focus on the conditionality of the transfer regardless of its nature viz., cash or kind.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"37 3","pages":"Article 100592"},"PeriodicalIF":1.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145109243","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}
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