Faculty Publications
Permanent URI for this communityhttps://idr.nitk.ac.in/handle/123456789/18736
Publications by NITK Faculty
Browse
Search Results
Item Multidimensional energy poverty and human well-being: household-level evidence from India(Emerald Publishing, 2024) Rajesh Acharya, H.; Sadath, A.C.Purpose: This paper aims to assess the relationship between energy poverty and the well-being of people using Amartya Sen’s capability approach to development as theoretical underpinning. Design/methodology/approach: The study uses household-level energy access data collected by the Harvard Dataverse in 2015 and 2018. The authors use multidimensional indices to measure energy poverty and well-being. Further, the authors apply quantile regression approach to measure the relationship between energy poverty and well-being. Findings: The study’s findings reveal that energy poverty and well-being are negatively related. India has made progress in reducing energy poverty and improving well-being during the study period. However, progress in reducing energy poverty is largely due to improved access to electricity and improvement in well-being due to income and financial inclusion. Using modern cooking fuel has a greater negative impact on well-being compared to lighting using electricity. Further, households spending a greater proportion of their income on modern energy fuels leads to a lower quality of life as it precludes them from using it for other purposes. The study records wide variations in the observed relationship between energy poverty and well-being across various socioeconomic groups. Practical implications: This calls for improvement in the production and distribution of modern energy resources, which have substantial welfare implications. Originality/value: This is the first study to measure the relationship between energy poverty and quality of life using multidimensional indices. The findings of this paper have policy implications for the pricing of energy resources and energy access measures. © 2024, Emerald Publishing Limited.Item The effect of structural oil shocks on stock returns of Indian renewable energy companies across market conditions(Emerald Publishing, 2024) Mishra, L.; Rajesh Acharya, H.Purpose: This study aims to evaluate the structural oil shocks effect on stock returns of Indian renewable energy companies across market conditions. Design/methodology/approach: This study applies the structural vector autoregression model to estimate sources of oil shocks such as oil supply shock, aggregate demand shock and oil price-specific demand shock. In the next step, the panel quantile regression model estimates the effect of these oil shocks on stock return across market conditions. Monthly data are collected from January 2009 to December 2019. All renewable energy companies listed on the National Stock Exchange of India are considered for the analysis. Findings: In the whole sample analysis, this study finds that oil shocks negatively affect stock returns in most of the market conditions except oil price-specific demand shock. In sub-groups, oil shocks driven by supply and aggregate demand also negatively affect stock return in most market conditions. This study finds the positive interaction of oil price-specific demand shock. A majority of these positive interactions happen in bearish market conditions. In the whole sample, the asymmetric effects of shocks driven from oil supply and oil price-specific demand are seen in most quantiles or market conditions. At the same time, aggregate demand shock does not affect asymmetrically. In the sub-group analysis, standalone renewable energy companies stock returns are least asymmetrically affected by these oil shocks. The asymmetries of oil supply-driven shock on stock returns of the renewable energy sub-group companies are found in most quantiles. Originality/value: First, this is a company-level study of the stock returns response to the structural oil shocks in the renewable energy sector. Second, to the best of the authors’ knowledge, this type of study is the first in the Indian context. Third using panel quantile regression model along with capital asset pricing model framework, the authors investigate these effects across market conditions. © 2024, Emerald Publishing Limited.Item Adoption of Crop Insurance by Smallholder Farmers: Farm-Level Evidence from India(Nan Yang Academy of Sciences Pte. Ltd, 2024) Rajesh Acharya, H.The paper aims to analyse the extent and determinants of smallholder farmers’ adoption of crop insurance. The study conducted a primary survey and collected data from farmers in a drought-prone area of Karnataka state in India using a structured questionnaire. The study has applied a binary logistic regression model to identify the determinants of crop insurance adoption. Empirical results reveal that though most farmers experienced crop loss, only a small percentage subscribed to crop insurance regularly. Lack of money to pay premiums and lack of information are the most common reasons for not subscribing to crop insurance schemes. Further, farmers feel the premium is expensive and do not receive the promised compensation due to the stringent eligibility rules. Most farmers who received compensation think the money is inadequate to cover the cultivation cost. Farmers feel each farm should be treated as a unit against the area-based insurance concept, and more crops should be brought under insurance. They also highlighted the need to further subsidise the premium. Results of the logistic regression con- firm that socially marginalised groups and farmers practising agriculture as an ancestral profession are less likely to insure their crops. © 2024 by the author(s).