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Author: search.filters.author.Gopalakrishna, B.V.Subject: search.filters.subject.empirical analysis

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    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.
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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