Browsing by Author "Gopalakrishna, B.V."

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Climate anomalies and stock market dynamics: Evidence from empirical analysis
(Academic Press, 2025) Akshaya, A.; Gopalakrishna, B.V.
The longstanding variation in average climate parameters, typically occurring over decades or longer, is known as climate change. The authors examine the impact of climate change anomalies, specifically the changes in temperature and precipitation, on the equity market. This empirical approach utilized monthly long-term time-series data from 1996 to 2024, comprising 348 observations. To test the empirical association between the variables, the study employed the autoregressive distributed lag (ARDL) and Nonlinear ARDL (NARDL) models. The findings of this analysis reveal a significant short-run symmetric effect of temperature changes on market volatility (? = 0.0004, p = 0.010). Increasing temperatures intensify market instability, suggesting that short-term climatic shocks amplify investor uncertainty and risk perception, and heighten market momentum. In contrast, increasing precipitation exhibits a long-term stabilizing effect (? = ?8.91e-06, p = 0.032), indicating that higher rainfall helps mitigate market instability over time. The alternative explanatory data from the World Bank and the GARCH model results are robust to the primary outcome. The study's outcomes provide valuable insights for regulatory bodies' climate disclosure policies and highlight the importance of proactive hazard management, particularly for investors in emerging markets and vulnerable sectors that are more susceptible to climate-driven volatility. © 2025 Elsevier Ltd
Customer loyalty development in online shopping: An integration of e-service quality model and commitment-trust theory
(2018) Goutam, D.; Gopalakrishna, B.V.
The aim of this study is to explore the determinants of cognitive loyalty in an online shopping environment. The study established a theoretical model by incorporating both e-service quality model and commitment-trust theory. A total of 937 responses were collected form Indian online shoppers by using the mail survey method. We assessed measurement model and structural model by using SPSS and AMOS. Study outcomes confirm that customer satisfaction, e-trust, commitment, and cognitive loyalty were strongly influenced by e-service quality and perceived value. Further, satisfaction had direct and positive influence on both e-trust and commitment but not on cognitive loyalty. E-trust had a positive impact on e-commitment and cognitive loyalty. Lastly e-commitment had a positive influence on cognitive loyalty. Based on the existing literature, there was a dearth of theoretical understanding of cognitive loyalty in an emerging economy perspective. Thus, the current study accomplished the critical theoretical gap by encompassing previous investigations. We examined the phenomenon of customer loyalty by integrating e-service quality model and commitment-trust theory in business to consumer e-commerce environment while considering e-satisfaction as a mediator, highlighting the originality and contribution of the current research to the online consumer loyalty literature. 2018 by the authors; licensee Growing Science, Canada.
Customer loyalty development in online shopping: An integration of e-service quality model and commitment-trust theory
(Growing Science info@growingscience.com, 2018) Goutam, D.; Gopalakrishna, B.V.
The aim of this study is to explore the determinants of cognitive loyalty in an online shopping environment. The study established a theoretical model by incorporating both e-service quality model and commitment-trust theory. A total of 937 responses were collected form Indian online shoppers by using the mail survey method. We assessed measurement model and structural model by using SPSS and AMOS. Study outcomes confirm that customer satisfaction, e-trust, commitment, and cognitive loyalty were strongly influenced by e-service quality and perceived value. Further, satisfaction had direct and positive influence on both e-trust and commitment but not on cognitive loyalty. E-trust had a positive impact on e-commitment and cognitive loyalty. Lastly e-commitment had a positive influence on cognitive loyalty. Based on the existing literature, there was a dearth of theoretical understanding of cognitive loyalty in an emerging economy perspective. Thus, the current study accomplished the critical theoretical gap by encompassing previous investigations. We examined the phenomenon of customer loyalty by integrating e-service quality model and commitment-trust theory in business to consumer e-commerce environment while considering e-satisfaction as a mediator, highlighting the originality and contribution of the current research to the online consumer loyalty literature. © 2018 by the authors; licensee Growing Science, Canada.
Determinants of Customer Loyalty Dimensions: E-Commerce Context in Emerging Economy Perspective
(IGI Global, 2021) Goutam, D.; Gopalakrishna, B.V.; Ganguli, S.
This study aims to explore the factors influencing attitudinal, affective, as well as cognitive loyalties. Theoretical framework was developed by integrating the e-service quality, e-satisfaction, e-loyalty (the three dimensions), e-commitment, and e-trust. Nine hundred thirty-seven valid replies were collected from internet shoppers through using email survey method. Exploratory factor analysis as well as Structural equation modeling was accomplished to examine the anticipated model by using SPSS-V23 and AMOS-V23. Results confirm that e-service quality has an influence on satisfaction, trust, and commitment. The authors have considered e-satisfaction, e-trust, and e-commitment as mediating variables between e-service quality and e-loyalty dimensions and tested for it as well. E-satisfaction has a substantial impact on e-trust and trust acts as a mediator between satisfaction and attitudinal, affective, and cognitive loyalty. Further, e-trust has an influence on commitment and commitment acts as a mediator between trust and attitudinal, affective, and cognitive loyalty. Moreover, commitment has a positive effect on attitudinal and cognitive loyalty but does not have any impact on affective loyalty. © © 2021, IGI Global.
Determinants of customer satisfaction and loyalty in e-commerce settings: An emerging economy perspective
(Inderscience Publishers, 2021) Goutam, D.; Gopalakrishna, B.V.; Ganguli, S.
E-commerce is one of the rapidly mushrooming industries in the world. The rapid development of information technology has granted numerous opportunities for e-commerce players as well as online shoppers. In this era of digital-marketing, satisfying customers becomes one of the fundamental goals of the e-retailers. Specifically, earning the satisfaction and loyalty of consumers and sustaining in the business is an arduous challenge for e-retailers in this competitive market. Additionally, the influencing factors that drive the customers' purchase decisions in the e-commerce platform are also an essential consideration. This study explores the determinants of consumer satisfaction and loyalty in an e-commerce environment. The researchers propose website service quality, privacy, product quality, price, and timely delivery as predominant determinants of e-satisfaction and e-loyalty. The final sample size was a total of 230 online buyers. Hypotheses were tested using structural equation modelling (SEM). The findings indicate that the price, product quality and timely delivery have a positive effect on e-satisfaction as well as e-loyalty. However, website service quality does not affect e-satisfaction and e-loyalty. The study infers that privacy affect only e-satisfaction. Correspondingly, the study reveals that there is a direct and significant impact of e-satisfaction on e-loyalty. © 2021 Inderscience Enterprises Ltd.. All rights reserved.
Does Board Gender Diversity Enhance the Sustainable Performance of Firms? Empirical Evidence From India
(Emerald Publishing, 2025) Poornima, S.; Gopalakrishna, B.V.; Samanta, M.
This study explores the link between board gender diversity and corporate sustainability disclosure. The study employs 417 Indian companies to investigate how the incorporation of corporate sustainability disclosure and gender diversity on the board of directors interrelate. The findings show that companies with a higher proportion of female directors enhance sustainable disclosure by taking favorable reporting measures to address environmental issues, social welfare concerns, and governance problems. The companies with more women on board incorporate highly sensitive initiatives regarding the environment, society, and overall governance. These results suggest that women directors add valuable diversity, leading to better decisions and a stronger focus on social and environmental concerns. This study extends the prevailing literature on gender studies and sustainability by presenting empirical recommendations about the role of females in corporate decision-making, specifically related to the sustainability of Indian firms. © 2026 Dhishna Pannikot. All rights reserved.
ESG Investment and Sustainability Reporting: A Systematic Review for Future Research
(Springer Nature, 2023) Poornima, S.; Gopalakrishna, B.V.
Sustainable finance is an area of study that looks beyond the simple number of risk and return. It looks over the impact of investment on ESG, i.e., environment, society, and governance factors. This paper conducts a comprehensive review of research works on ESG and its disclosures using the TCCM framework and thematic analysis, specifically in the Indian context, to determine future research priorities and research gaps in India. The search parameters identified 50 research papers, 44 of which were accepted for analysis. The study identified a gap in the available literature that allows for future observation. The study agenda in this review may help researchers to construct specific research fields around the discovered gaps. ESG investment has emerged as a critical problem for businesses. As a result, a considerable study in this sector is required to grow this topic as an operational investment area. Â© The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd 2023.
Financial literacy–a regulator of intended investment behaviour: analysing the hypothetical portfolio composition
(Emerald Publishing, 2024) Rodrigues, C.G.; Gopalakrishna, B.V.
Purpose: The investment behaviour of individuals has been a major area of interest for several researchers and policymakers due to its great impact on the economy. This study aimed to assess the investment behaviour of individuals in light of their risk appetite and how financial literacy regulates this relationship. Design/methodology/approach: A self-administered structured questionnaire was used to collect responses from individuals using purposive and convenience sampling techniques. Individuals were presented with 16 investment avenues widely offered by the Indian financial market to choose from to construct a hypothetical portfolio. The association between risk appetite, financial literacy and the composition of the hypothetical portfolio was analysed using a gologit model. Findings: Increased risk appetite increased the probability of respondents creating a portfolio with a greater proportion of risky assets and less diversification. Lower levels of financial literacy pointed towards portfolios with traditional and low-risk avenues. The results also revealed a significant moderating impact of financial literacy on risk appetite and the creation of the type of a hypothetical portfolio. Research limitations/implications: Even though the intended behaviour is a close estimate of actual behaviour, there is a possibility of deviation that cannot be ignored. Originality/value: The present study provides insights into how individuals make portfolio choices by incorporating risk appetite and diversification factors whilst making investment decisions, thereby expanding the literature from an emerging economy perspective. The role of financial literacy as a moderator has not been studied in the domain of hypothetical portfolio creation in India, which has been empirically explored in the current study. © 2023, Emerald Publishing Limited.
Financial risk tolerance of individuals from the lens of big five personality traits – a multigenerational perspective
(Emerald Publishing, 2024) Rodrigues, C.G.; Gopalakrishna, B.V.
Purpose: This study aims to analyse the impact of the big five personality traits on the financial risk tolerance of individuals. Furthermore, it also examines the differences in personality traits and financial risk tolerance across four generations: baby boomers, Generation X, millennials and Generation Z. Design/methodology/approach: The data constituted 869 responses from Indian individuals, collected using a self-administered structured questionnaire using a convenience sampling technique. Findings: Structural equation modelling analysis showed that openness to experience, extraversion and neuroticism had a significant impact on financial risk tolerance. Multivariate analysis revealed the role of specific personality traits in predicting the financial risk tolerance of generational cohorts. Mean difference showed that millennials and Generation Z had the greatest risk tolerance, whereas the tolerance levels were lower for Generation X and baby boomers. Research limitations/implications: This research provides insights into the role of personality on financial risk-taking among generational cohorts in India. Thus, these results cannot be generalised for other risk-taking domains or outside the Indian context. Originality/value: This study’s results align with the pulse rate hypothesis of generational theory and contribute to the growing field of behavioural economics and finance. It provides a perspective of the emerging economy of India, where behavioural finance studies are still at a nascent stage. © 2023, Emerald Publishing Limited.
Impact of climate and economic policy uncertainties on inflation in India: using the vector error correction model approach
(Springer Science and Business Media B.V., 2025) Akshaya, A.; Gopalakrishna, B.V.
Economic policies are designed to address challenges in the economic environment and mitigate future associated risks and uncertainties. The present study addressed the impact of policy uncertainties such as climate policy uncertainty (CPU) and economic policy uncertainty (EPU) on price inflation in India. The data were sourced from the Reserve Bank of India and Policy Uncertainty databases from April 2004 to March 2024. Descriptive statistics and stationarity tests were conducted to analyze the characteristics of the variables. Johansen’s cointegration test assessed the long-term relationships among the regressors. The vector error correction model (VECM) and impulse response function (IRF) were used to evaluate long-run equilibrium dynamics and the responsiveness of inflation to policy uncertainties. The empirical outcomes specified a significant relationship between inflation and economic policy uncertainty, while climate policy uncertainty exhibited an insignificant positive effect on inflation. These findings suggest that policy uncertainties influence inflation and broader economic stability. The study emphasizes the importance of formulating coherent and stable economic policies to mitigate inflationary pressures and foster economic resilience. © The Japan Section of the Regional Science Association International 2025.
The impact of entry of foreign banks on credit access: An empirical study on Indian economy
(2016) Massand, A.B.; Gopalakrishna, B.V.
The main aim of the study is to investigate the credit access to firms in India in the post entry of the foreign banks. A Panel data was constructed for 5454 firms across districts for 16 years period from 1999 to 2014 and analysed through dynamic panel data estimator GMM. The results of the study depicts that the credit access to firms in India have depleted after foreign banks entry and foreign banks do follow their clients. However, there were no sign of cherry picking behaviour by foreign banks in terms of credit access to firms in India. Serials Publications.
Nexus between climate policy uncertainty and economic policy uncertainty among BRIC nations: evidence from ARDL and NARDL approach
(Emerald Publishing, 2025) Akshaya, A.; Gopalakrishna, B.V.
Purpose – Climate policy is a collective name for the set of initiatives and legal frameworks that nations and international organizations have put in place to address the challenges of climate change. In this empirical analysis, we have studied the symmetric and asymmetric association between climate policy uncertainty (CPU) and economic policy uncertainty (EPU) among the BRIC nations. Design/methodology/approach – In the present analysis, the authors have used the autoregressive distributed lag (ARDL) and nonlinear autoregressive distributed lag (NARDL) models, which help explain the linear and nonlinear relationships among the variables. Descriptive statistics, stationarity tests and BDM statistics for nonlinearity are applied in the study to determine the data characteristics. Findings – Our model results demonstrate that the CPU has a significant impact on the EPU of the BRIC nations, except for India and the association is symmetric. India’s economic policies are more stable than those of other BRIC countries. Research limitations/implications – Due to the growing issue of climate change and its impact on economic policies, emerging nations must develop stable climate action plans to mitigate the effects on their economic policies. This empirical investigation will help economic policymakers and businesses to adopt appropriate growth and development policies. Originality/value – This study makes a novel contribution by being the first to examine how CPU influences EPU in emerging economies. The research question and methodological approach not only enrich the academic discourse but also provide valuable insights for the formulation of economic policy. © 2025 Emerald Publishing Limited
Optimism and Self-Control: Complementary Predictors of Financial Risk-Taking Propensity Among Working Adults
(Associated Management Consultants Pvt. Ltd., 2023) Rodrigues, C.G.; Gopalakrishna, B.V.
Purpose: The article aimed to investigate the complementary strength of two behavioral traits, namely, optimism and self-control, on the financial risk-taking propensity of working adults in India. In addition, the moderating effect of gender on the relationship of optimism and self-control with financial risk-taking propensity was examined. Methodology: The study adopted a cross-sectional-based survey approach with a sample consisting of 522 individuals of age 18 and above with diverse demographic characteristics. Purposive and convenience sampling techniques were employed for collecting data through a self-administered questionnaire. Structural equation modeling (SEM) was used to test the study’s hypotheses using the IBM AMOS software. Findings: The results revealed a positive association between optimism and financial risk-taking, while self-control showed a negative association. Further, the relationship between optimism and risk-taking propensity was moderated by gender, and this relationship was more pronounced among females. The study also revealed a contradictory finding which showed greater levels of optimism among females compared to males as opposed to prior research findings. Practical Implications: The study finds its importance among academicians who want to explore the complementary strengths of optimism and self-control in various other decision-making contexts. Financial service providers can look into the behavioral traits of optimism and self-control of their clients while assisting them in making financial decisions. Originality: The present study is unique as optimism and self-control as complementary predictors of the financial risk-taking propensity of working individuals have not been explored in the Indian context. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.
Technology readiness and e-service quality – impact on purchase intention and loyalty
(Emerald Group Holdings Ltd., 2022) Goutam, D.; Ganguli, S.; Gopalakrishna, B.V.
Purpose: This paper aims to explore impact of technology readiness (TR) on e-service quality (ESQ) and effect of ESQ and TR on purchase intention (PI) and behavioral loyalty (BL) in the context of online shopping. Design/methodology/approach: With the help of the existing literature, the authors propose a conceptual model. Questionnaire was designed to collect data, and analysis has been done using a final sample of 341 respondents. Findings: The results show how TR has a significant impact on ESQ, PI and BL. Outcomes also highlight that only three dimensions of ESQ have a positive impact on both PI and BL. System availability dimension of ESQ impacts neither PI nor BL. Therefore, TR and ESQ together play a vital role as enablers in influencing BL and PI in online shopping context. Practical implications: The study results will serve as a guide to business-to-consumer e-commerce players and help them to determine how TR and ESQ dimensions will help them to build BL and PI for online shopping. Originality/value: This is one of the first studies that takes into consideration both TR and ESQ and check how they impact PI and BL. Also, in the Indian context, it is an under-researched area and tries to fulfill this gap. © 2021, Emerald Publishing Limited.
The impact of entry of foreign banks on credit access: An empirical study on Indian economy
(Serials Publications serialspublications@vsnl.net, 2016) Massand, A.B.; Gopalakrishna, B.V.
The main aim of the study is to investigate the credit access to firms in India in the post entry of the foreign banks. A Panel data was constructed for 5454 firms across districts for 16 years period from 1999 to 2014 and analysed through dynamic panel data estimator GMM. The results of the study depicts that the credit access to firms in India have depleted after foreign banks entry and foreign banks do follow their clients. However, there were no sign of cherry picking behaviour by foreign banks in terms of credit access to firms in India. © Serials Publications.
The Impact of Temperature Change on the Firm Performance: Empirical Evidence from the Indian Mining Sector
(World Researchers Associations, 2025) Akshaya; Gopalakrishna, B.V.
Irrespective of sector, fluctuations in temperature exert a noteworthy impact on the operational dynamics of businesses. The panel data used encompassed 62 publicly listed Indian companies operating in the mining sector over the period from 2011 to 2020 to verify the above in the mining sector. The primary objective is to empirically scrutinize the repercussions of temperature changes on the overall performance of the mining industry in India. Firm-specific variables are kept as control measures in this investigation and a panel quantile regression approach is employed for the analysis. The study reveals that an escalation in the annual average temperature contributes to a decline in the profitability of mining firms. Notably, the observed negative correlation is not consistently uniform across different quantiles. Furthermore, the research establishes that working capital management does not exert a discernible influence on the profitability of mining companies. It is important to note that this empirical analysis is limited to Indian companies exclusively. © 2025, World Researchers Associations. All rights reserved.