&ldquo;IIT Jodhpur is committed to impart quality education to facilitate the creation of qualified, competent and responsible human resources to meet the emerging technological challenges of the world. It is working towards creating an equitable learning platform that is positive, accessible and effective in the face of the modern societal and scientific advancements.

Flexibility in curriculum, in all its academic programs, encompassing elements of teaching, research, creativity, innovation and entrepreneurship is the most unique feature of IIT Jodhpur. The Department of Science and Technology (DST), under the National Mission on Cyber Physical Systems, has identified IIT Jodhpur as a Technology &amp; Innovation Hub in the area of Augmented Reality and Virtual Reality. The institute has also been nominated as the coordinator for the Jodhpur City and Knowledge Cluster by the Office of Principal Scientific Adviser, Government of India.

The sprawling 852-acre IIT Jodhpur campus is a majestic tribute to the deep-rooted diverse cultural heritage of the region. The campus is an architectural masterpiece, which is slated to become an international exemplar of sustainability with net-zero energy, and advanced water and waste management strategies.&rdquo;

IIT Jodhpur

Rapidly increasing demand for eco-friendly products is an example of responsible purchasing intention of customers. That responsible behaviour forces businesses not only to understand their responsible purchase intention, but also helps them to sustainability in the market for the long term. In this regard, very little discussion is available in current literature, especially in the context of apparel product consumption. Therefore, to contribute to literature in this field, this work aims to build a predictive sustainable model through an empirical study to examine the relationships among different factors such as attitude, social norms, perceived behaviour control, environmental consciousness, willingness to pay (WTP) premium and consumer purchase intention for environmentally friendly apparels. The data of two hundred and thirty-two respondents were analysed by structural equation modelling (SEM). With the help of the findings, it can be concluded that Indian consumers are aware of green apparels, have a positive attitude to them and show a responsible purchase intention to protect the environment. This is in contrast to the old saying that Indians are price sensitive given the emergence of higher WTP premiums for green apparel products. Other factors such as subjective norms, perceived behaviour control and environmental consciousness are also positively affecting consumer purchase intention. From the study findings, retail managers can benefit through more focused strategies for environmental protection to make a reduction in apparel material while educating their consumers about green apparel. © 2020 Elsevier Ltd

World University root node

School of Management & Entrepreneurship

Journal of Retailing and Consumer Services

Does environmentally responsible purchase intention matter for consumers? A predictive sustainable model developed through an empirical study

Using firm-level data from 7165 firms from Indian manufacturing, this paper explores the effects of firm age and size on its inclination to invest in research and development (R&D). The paper addresses the inadequately answered question on the choice between in-house R&D and technology purchase from foreign firms. To the best of author's knowledge, this is the first study to examine the impact of age, size and technology transfer on firm's inclination to invest in R&D for the manufacturing sector in India. Our results suggest that young firms are more likely to invest in R&D. A firm's exports further increase its propensity towards R&D. Contrary to the previous results, we show that young and small firms possibly use in-house R&D as a complementary input with purchased foreign technology. Thereafter, policy prescriptions are drawn. © 2021 World Scientific Publishing Company.

Singapore Economic Review

R&amp;D in indian manufacturing firms: Effects of age, size &amp; technology transfer

This study investigates the degree to which movements in stock liquidity is determined by common underlying factors in a large emerging market, India. This degree is called commonality. Commonality has been measured for NIFTY50 stocks using high frequency data across a variety of liquidity measures. This study empirically verifies the relative strength of market- and industry-wide liquidity in explaining commonality. Furthermore, the study analyses the impact of industry-wide liquidity on the liquidity of individual stocks belonging to the key industries of Indian economy, viz. consumer goods and pharma, energy, financial services, infrastructure, information technology (IT) and telecom, manufacturing and natural resources. Among all the sectors studied infrastructure, IT and telecom, manufacturing and natural resources sectors possess higher degree of Industry-wide commonality. This means fund managers find it difficult in altering a portfolio having greater exposure to these sectors. Studying the behaviour of commonality will also assist regulators in monitoring abnormal market fluctuations. The study contributes to the understanding of commonality on an emerging order driven market like India. © 2020 International Management Institute, New Delhi.

Global Business Review

Assessing Commonality in Liquidity: Evidence from an Emerging Market’s Index Stocks

Purpose: The purpose of this paper is to ascertain determining factors of ownership concentration and institutional portfolio ownership in the listed firms of an emerging market during pre-crisis and post-crisis periods and find variations in determining factors between the two varying market conditions. Design/methodology/approach: This paper considers 316 listed firms for the pre-crisis period and 408 firms for the post-crisis period, from the NIFTY-500. Pre-crisis period ranges from FY2000-01 to FY2007-08 and post-crisis period ranges from FY2009-10 to FY2016-17. Two-step GMM is utilized to test the hypotheses by controlling the unobserved heterogeneity and endogeneity issues. Findings: Higher investment and stock market growth leads to ownership dispersion in both the market conditions. Industry information asymmetry leads to dispersion in pre-crisis, while improves concentration in post-crisis phase. Firm size, legal environment and economic growth are found to be a positive determinant of institutional ownership irrespective of market conditions. Institutional investment proliferates with higher stock liquidity and PE ratio, while declines with augmented firm risk, current ratio and stock market turnover during post-crisis phase. Practical implications: Policymakers should construct a robust legal environment and focus to improve economic conditions to boost institutional ownership. Corporate executives should concentrate to increase stock liquidity and earnings of the firms, and lower market risk to draw more institutional portfolio investments. Originality/value: This study would enrich emerging governance literature since studies on the determining factors of ownership holdings are limited in the emerging world. It adds novelty by capturing two different market conditions such as pre-crisis and post-crisis phases to obtain the time-dependent and time-independent determinants. It adds uniqueness by considering the determinants of institutional ownership, which is scarce in ownership studies. © 2020, Emerald Publishing Limited.

Managerial Finance

What matters to ownership structure? Evidence from pre- and post-global financial crisis in an emerging market

Purpose: The purpose of this paper is to investigate long-run commonality in liquidity using multiple proxies computed from limited order book data of NIFTY50 stocks. The findings indicate the existence of systematic liquidity or commonality on NIFTY50 market and comprising industries. Design/methodology/approach: The sample comprises all intraday transactions corresponding to NIFTY 50 stocks for April 2015. The study runs firm by firm time series regressions to test the concept of long-run commonality, while controlling other effects. Findings: Strong evidence is found in support of long-run commonality across three liquidity measures. On the basis of significance (10%) of long-run commonality beta (βLR), the strength of long-run commonality is found to be highest in natural resources and infrastructure sector. Portfolios having greater exposure to these sectors will face diversification risk to a great extent. Practical implications: Knowledge of long-run commonality helps portfolio managers in formulating diversification strategies and reshuffling the portfolio over the period. Commonality risk being non-diversifiable is a policy concern for regulators and central bankers. Its empirical evidence will assist in managing exchange organization and thus preventing market crashes because of sudden liquidity evaporation. Originality/value: Although there are recent studies documenting commonality in short run, little empirical work has been done on commonality in the long run and in emerging markets such as India. This research contributes to the literature by testing concept of commonality in long-run on NIFTY50 stocks using detailed transaction data from National Stock Exchange. © 2020, Emerald Publishing Limited.

Journal of Indian Business Research

Long run commonality in Indian stocks: empirical evidence from national stock exchange of India

This article examines the impact of various sources of systematic liquidity risk and idiosyncratic liquidity risk on expected returns in the Indian stock market. The study tested the liquidity-adjusted capital asset pricing model (LCAPM) which is previously tested on developed markets. Systematic liquidity risk is found to be significant in impacting asset returns through various channels, viz. commonality in liquidity and illiquidity sensitivity to market returns. Covariance between individual stock returns and associated stock liquidity has a commanding influence as an idiosyncratic liquidity risk factor. The estimated asset pricing model is found to be robust across the two sub-time periods. The findings indicate that given the multidimensional nature of risk, the alternative of LCAPM along with the idiosyncratic risk is persuasive for consideration in investment decisions. © 2019, © 2019 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license.

Fulltext

Cogent Economics and Finance

Liquidity-adjusted CAPM — An empirical analysis on Indian stock market

Using account-level transaction data at a major financial institution, we predict the incidence of suspicious activity that can be related to the external financial fraud of its elderly clients. The data consists of over 5 million accounts of clients aged 70 years and older, and over 250 million transactions extending from January 2015 to August 2016. Our main focus is to improve the detection of alerts within a proprietorial transaction monitoring system. Using logistic regression, random forest and support vector machine learning techniques, together with corrections for imbalanced alert samples, we provide a new alert model for the protection of elderly clients at a financial institution, with out-of-sample predictive accuracy. Our findings show the relative influence of client traits and account activity in our select external fraud alert models. © 2018, © 2018 Informa UK Limited, trading as Taylor & Francis Group.

European Journal of Finance

Can alert models for fraud protect the elderly clients of a financial institution?

This article investigates commonality in liquidity on India's National Stock Exchange (NSE) using high frequency limit order book data. The analysis pertains to 50 mid-cap stocks for the period April–July 2015. A comprehensive record of more than 100 million orders and trades is aggregated at 30 min intervals to construct a variety of spread and depth measures of liquidity. The empirical analysis shows that individual stock liquidity co-moves to a high degree with market liquidity and industry liquidity. Market-wide commonality is found to be stronger than industry-wide commonality for most liquidity measures. Commonality is further found to be greater in heavy manufacturing than in consumer goods, financial services, or infrastructure sectors. For most stocks, up markets show a stronger degree of commonality than down markets. Finally, short-run commonality is found to exceed long-run commonality, which suggests greater presence of noise traders in short run. © 2018 Elsevier Inc.