• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.229-239
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• 2022

The primary objective of the current study is to ascertain the effect of transparency and disclosure (T&D) on the value of banks operating in the Indian banking sector. It also includes finding the moderating impact of financial distress (FD) and environmental, social, and governance (ESG) on the association between T&D and the valuation of banks. The study employs Panel data analysis (PDA) to analyze data and produce novel results thereafter. The authors of the study have considered using data of secondary nature which is sourced from banks operating in the Indian banking industry. Data in the current study has been considered for ten financial years, i.e., 2010 to 2019. The results reveal that T&D positively impacts a firm's valuation. We have also found evidence that financial distress and ESG (Environmental, Social, and Governance) significantly impact the value of firms under the influence of T&D. As far as we are aware, no study of this kind has been done yet in any developing nation to determine the effect that T&D, FD, and ESG have on the value of Indian banks. This paper can help future researchers in their respective studies that will involve the study variables (FD, T&D, and ESG).

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.175-181
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• 2023

Competition assures improved products and services to meet customers' needs. The soundness of a firm's financial health is crucial for the country's economic well-being. Distressed companies cause investor panic, which has a knock-on effect on the economy and leads to a deterioration in the image and value of the companies. This paper aims to empirically investigate the influence of competition on financial distress (FD) in the healthcare industry using the Altman Zscore values as the proxy for FD. This study uses secondary data from ten healthcare companies operating in India between 2016 and 2020. The study's findings indicate a significant negative relation with the exogenous variables of the study, implying that a higher level of competition enhances a firm's FD or adversely affects financial health. The main implication of the study is two-pronged. Firstly, the firms' managers and decision-makers need not worry about competition as a deterrent to stability. Secondly, the policymakers need not be concerned that high competition may lead to financial stress for the firms. Therefore, this paper concludes that competition is good for firms operating in India.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.323-336
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• 2021

The present study aims to examine the impact of real earnings management on the future value of the firm and its persistence. The study also tests suspect firm effects on the relationship between real earnings management and the future value of the firm. The sample of the present study consists of all listed non-financial firms from the year 2011 to 2018. Real earnings management has been measured in three alternative ways viz., abnormal operating cash flows, abnormal discretionary spending, and abnormal production cost. Tobin's Q is used as a measure of firm value. The interaction term of real earnings management and Tobin's Q is used to test firm value persistence. The results of the analysis disclose that out of three measures of real earnings management, abnormal reduction in discretionary spending only has a significant negative impact on the persistence of firm value. Moreover, the suspect firm analysis reveals that when the underlying motive of real earnings management is to meet zero earnings, both abnormal increases in operating cash flows and abnormal reduction in discretionary spending have a significant negative impact on firm value persistence.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.191-203
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• 2022

The ecosystem for digital payments in India has expanded quickly during the last decade. A synthesis of technical advancements and progressive governmental laws and regulations has fuelled this expansion. Particularly, the UPI system has assisted India in transitioning from a nation heavily reliant on cash for daily transactions to one with fewer cash transactions. The study attempted to determine how Financial Inclusion (FI) through a socio-techno-ecosystem impacts digital payment systems. FI involves ensuring financial services, products, and an adequate amount of credit without discrimination against the weaker section of society. The study has established that FI impacts the UPI. The finance infrastructure thus helps to develop an ecosystem where financial access and the awareness level help people to transit to new channels of payment. We have used secondary data of 27 banks for sixteen quarters and four years, i.e., for the financial years 2016-17 to 2019-20. It is observed from the current study that the offsite_ATM plays a significant role in the value creation of the UPI. Our study implies that it will help retailers, individuals, and business houses to use UPI platforms for swift payments without hassle. Also helpful for industries that are still not digitally disrupted and industry-specific UPI transactions.

• Wind and Structures
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• v.36 no.3
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• pp.215-220
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• 2023

We study the progressive full-scale wind tunnel tests on a high solidity vertical axis wind turbine (VAWT) for various tip speeds and pitch angles to understand the VAWT shaft system's dynamics using 0-1 Test for chaos. We identify that while varying rotor speed (tip speed) of the turbine, the system's dynamics change from periodic to chaotic through quasiperiodic and strange non-chaotic (SNA) states. The present study is the first experimental evidence for the existence of these states in the VAWT shaft system to the best of our knowledge. Using the asymptotic growth value Kc in 0-1 test, when the turbine operates at the low tip speeds and high pitch angles for low incoming wind speeds, the system behaves periodic (Kc ≈ 0). However, when the incoming wind speed increases further the system's dynamics shift from periodic to chaotic vibrations through quasi-periodic and SNA. This phenomenon is due to the dynamic stalling of blades which induces chaotic vibration in the VAWT shaft system. Further, the singular continuous spectrum method validates the presence of SNA and differentiates the SNA from chaotic vibrations.

• Journal of Information Science Theory and Practice
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• v.11 no.3
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• pp.1-15
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• 2023

The present study examines the impact of value co-creation on satisfaction and intention to adopt of e-resources among users. Four components of the DART model have been adopted to describe value co-creation. These components are dialogue, access, risk-assessment, and transparency. Ph.D. scholars and faculty members from National Capital Region, India, were requested to respond on a five-point Likert scale. A total of 220 responses were collected with the help of a structured questionnaire from respondents of the top 50 business schools according to National Institute Ranking Framework. These responses have been analysed by means of structured equation modelling on Adanco 2.2 software. Findings of the study reported the insignificant impact of access and risk-assessment, and positive impact of dialogue and transparency on satisfaction. Further, satisfaction has been identified, creating significant impact on adoption of e-resources. Such findings reflect the real picture of customer experience with respect to their role in co-creation of e-resources. Respondents have conveyed their dissatisfaction with the co-creation process of e-resources, as companies do not provide all the information and access to their customers beforehand. Consequently, customers fail to make informed decisions and also find themselves unable to show trust in the service providers of e-resources.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.775-812
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• 2008

This paper provides a theoretical approach to the New Zealand's Catch-Balancing Regime (CBR) with a reporting requirement under the Individual Transferable Quota (ITQ) system. The enforcement strategy depicted draws on recent literature regarding practical applications of the Revelation Principle. New Zealand's use of CBR-specific instruments such as deemed values, remains to be improved. However, some of its features can constitute a valuable example for regulators seeking to improve their methods of dealing with issues as bycatch or overfishing in order to maintain Total Allowable Catch (TAC) levels under emerging ITQ systems. The enforcement strategy analyzed has the potential to provide a more sustainable and efficient management of the fish stock, reduce discarding and stabilize monitoring costs, while improving the level of reporting compliance.

• Maxillofacial Plastic and Reconstructive Surgery
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• v.39
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• pp.4.1-4.7
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• 2017

Background: This study is a quantitative evaluation of the influence of the mentolabial angle on perceived attractiveness and threshold values of desire for surgery. Methods: The mentolabial angle of an idealized silhouette male Caucasian profile image was altered incrementally between $84^{\circ}$ and $162^{\circ}$. Images were rated on a Likert scale by pretreatment orthognathic patients (n = 75), lay people (n = 75) and clinicians (n = 35). Results: A mentolabial angle of approximately $107^{\circ}$ to $118^{\circ}$ was deemed the most attractive, with a range of up to $140^{\circ}$ deemed acceptable. Angles above or below this range were perceived as unattractive, and anything outside the range of below $98^{\circ}$ or above $162^{\circ}$ was deemed very unattractive. A deep mentolabial angle ($84^{\circ}$) or an almost flat angle ($162^{\circ}$) was deemed the least attractive. In terms of threshold values of desire for surgery, for all groups, a threshold value of ${\geq}162^{\circ}$ and ${\leq}84^{\circ}$ indicated a preference for surgery, although clinicians were least likely to suggest surgery. The clinician group was the most consistent, and for many of the images, there was some variation in agreement between clinicians and lay people as to whether surgery is required. There was even more variability in the assessments for the patient group. Conclusions: It is recommended that in orthognathic and genioplasty planning, the range of normal variability of the mentolabial angle, in terms of observer acceptance, is taken into account as well as threshold values of desire for surgery. The importance of using patients as observers in attractiveness research is stressed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.857-861
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• 2021

The study aims to find the asymmetric effect in National Stock Exchange in which the Nifty50 is considered as proxy for NSE. A return can be stated as the change in value of a security over a certain time period. Volatility is the rate of change in security value. It is an arithmetical assessment of the dispersion of yields of security prices. Stock prices are extremely unpredictable and make the investment in equities risky. Predicting volatility and modeling are the most profuse areas to explore. The current study describes the association between two variables, namely, stock yields and volatility in equity market in India. The volatility is measured by employing asymmetric GARCH technique, i.e., the EGARCH (1,1) tool, which was used in building the study. The closing prices of Nifty on day-to-day basis were used for analysis from the period 2011 to 2020 with 2,478 observations in the study. The model arrests the lopsided volatility during the mentioned period. The outcome of asymmetric GARCH model revealed the subsistence of leverage effect in the index and confirms the impact of conditional variance as well. Furthermore, the EGARCH technique was evidenced to be apt in seizure of unsymmetrical volatility.

• The Journal of Sustainable Design and Educational Environment Research
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• v.12 no.2
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• pp.1-10
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• 2013

This study evaluates the relationship among the evaluation structure of morphological elements, the satisfaction on exterior elements, and the image evaluation for the campus landmarks by campus type. The investigation results are summarized as follows. 1) The university headquarter was nominated as the university landmark, and the main reason for the nomination was the building's historic and locational value. 2) Of the morphological elements of the campus landmark, 'proportion and balance' and 'harmony and order' were deemed important, while 'diversity' was deemed less important. 3) For the satisfaction on the facility's exterior elements, the evaluation structure was different for each university. However, the factor of 'location of the facility' was deemed the biggest factor for satisfaction for all universities, while the facility's 'color and material' were found to be the most dissatisfying factors. 4) The image evaluation on the facility was different for each university. Although there was a strong skeptical image about 'liveliness', there was a very positive image about 'elegance' and 'scale'. 5) On the relationship between the satisfaction on exterior elements and the image evaluation, there was a different evaluation structure for each university. 'Facility's color and exterior material' were the main elements which improved the overall image of the facility. Thus, the study results strongly suggest that an important task is to determine the maintenance direction through the emphasis on the relationship between exterior elements and image satisfaction for each university.