Purpose : The present paper investigated the growth of shareholder value and the factors influencing shareholder value in Indian automobile companies, focusing on perceptions of value-based and accounting metrics. The automobile sector was an economic engine in India. Profit and shareholder wealth were concentrated along a straight line. The current study focused on providing empirical evidence on the influencing factors of shareholder value. Methodology : A total of eight independent variables (return on assets, return on equity, net profit, current ratio, share price, economic value added (EVA), refined EVA (REVA), and market value added) and shareholder value as the dependent variable were amalgamated in the study. The sources used in the research were quantitative data collected from the companies’ annual reports. The historical data were assessed from 2010 – 2025. EViews software was used for the analysis. Findings : The findings showed that SP, EVA, market value added (MVA), and refined economic value added (REVA) had a significant impact on the shareholder value of the assessed companies. The study concluded that calculating and examining value-based metrics was important in understanding and enhancing the trend in shareholder value. Practical Implications : The results recommended that financial regulators can encourage companies to adopt value-based metrics, which are essential for improving shareholder value and ensuring long-term corporate sustainability. Originality/Value : This research provided a novel viewpoint on shareholder value with value-based metrics. Unlike prior research on shareholder return, the current studies incorporated both accounting and value-based metrics.

Purpose : CEO duality has been examined for over three decades. However, no study has consolidated the existing knowledge structure. This study intended to integrate the existing literature, analyze current dynamics, elicit knowledge progression through content analysis, and propose future research directions. Methodology : A two-stage hybrid review using bibliometric and content analysis was conducted on 826 high-quality Scopus-indexed papers on CEO duality published between 1987 and September 2022. Furthermore, a detailed content analysis was conducted on 69 articles. Findings : Content analysis identified four research themes related to CEO duality, such as firm performance, financial performance, and other key variables : voluntary disclosures and the impact of CEO duality on other significant variables. Based on content analysis, this study offered future research directions. Practical Implications : This study provided a methodological overview of the CEO duality literature for institutional heads, researchers, and regulators to understand its nuances and take necessary actions to achieve their respective objectives. Originality : This study presents the hybrid evaluation encompassing bibliometric techniques and content analysis on CEO duality. It recognized publication trends, knowledge structures, and knowledge progression in this field. Furthermore, it recognized and analyzed research streams and suggested future research areas.

Purpose : The objective was to analyze ESG performance and firms’ corporate financial performance using bibliometric and meta-analytic methods to identify the most influential authors, journals, and articles in the field and to calculate the financial impact of environmental, social, and governance (ESG). Methodology : A total of 1,128 documents were sourced from the Scopus database and refined using PRISMA to conduct a bibliometric analysis. Of these, 550 articles were included in the meta-analysis using a random-effects model. Findings : We reported a growing trend in the publication examining the relation between ESG and Corporate Financial Performance (CFP) literature. The meta-analysis results indicated a positive relationship between ESG and CFP. Practical Implications : The findings suggested that managers, investors, and policymakers should recognize firms’ practice of ESG criteria as it creates long-term firm value and sustainable financial performance. Originality : This study was among the first to integrate bibliometric, thematic, and meta-analysis to examine ESG–CFP relationship, thereby advancing previous literature.

Purpose : India crossed 150 million Demat accounts in March 2025, yet women remain under-represented (≈ 24% of new Demat openings in Fy2025). This piece diagnosed the main constraints behind women’s lower participation in equities and mutual funds and proposed actions to close the gap. Methods : This article engaged in a perspective-style synthesis drawing on official statistics (SEBI, AMFI, RBI, OECD, World Bank), secondary reports, peer-reviewed studies, and cross-country program examples. Key Findings : Women’s participation trails market deepening: women contributed ~30.5% of SIP assets and are reported at ~14% of direct-equity assets under management (AUM) and ~24% of mutual funds AUM. The primary bottleneck was framed as a financial literacy–confidence nexus: Literacy matters, but lower confidence and “permission-seeking” norms impede acting on knowledge; behavioral factors (stereotype threat, loss salience) and product complexity further reinforce the gap. Cross-country contrasts suggested defaults (auto-enrolment) and lifecycle education can materially narrow gender gaps. Originality : It shifted the policy focus from information deficits alone to confidence and agency, and proposed a five-pillar roadmap: School curriculum integration, opt-out workplace defaults for women, “gender-smart” adviser certification, SHG-based investment circles, and a national gender investing dashboard with quarterly reporting.

Purpose : This study aimed to analyze the influence of bank performance on economic growth. We proposed a framework of banking variables to gain a holistic picture. Design/Methodology/Approach : To identify the causal relationship, we ran cointegration tests and vector autoregression (VAR). In addition, we used the impulse response function test. This helped in analyzing the response of GDP growth to banking shocks. Findings : We identified that banking variables like domestic credit (DC), return on equity, and capital adequacy ratio can stimulate economic growth. Long-term and short-term influence of banking performance on economic growth. Improved performance of banks can translate to economic growth. Our results also indicated that well-capitalized banking, high return on equity, and increased credit access were critical drivers of GDP growth. Practical Implications : This research offered important insights into the role of banking performance in influencing economic growth. We recommended that policymakers implement measures to improve capital adequacy, enhance profitability, and increase credit flow for sustained economic success and development. Originality/Value : This study added to existing research by examining how banking performance influenced economic growth in a developing context. Unlike prior studies that focused mainly on advanced economies, our analysis centered on India, offering evidence from an emerging financial system and providing context-specific insights.

Purpose : This study investigated how company-specific factors such as net sales, net profit, and earnings per share (EPS) correlate with stock returns across large, mid, and small-cap (LMS) companies. Design/Methodology/Approach : We employed panel cointegration and panel causality models for quarterly data between June 2010 and March 2022. Findings : We found no evidence of long-term cointegration between company-specific factors and stock returns among LMS firms. Additionally, fluctuations in net sales and net profit were found to affect stock returns for large-cap and mid-cap companies, whereas EPS did not influence stock returns for LMS firms. Overall, the results of our cointegration and causality tests were consistent across LMS stocks. Practical Implications : The findings have practical implications for various stakeholders. Investors can use insights from our research to make more informed decisions regarding stock investments across LMS stocks. Understanding the long-term relationship between firm performance metrics and stock returns could help in portfolio management and risk assessment. Originality/Value : Based on our current information, this paper is the first to cover the association between firm performance and the stock returns of the mid-cap and small-cap firms, along with large-cap firms, for better investment diversification.

Purpose : The study empirically investigated the linkages between financial development and sectoral labor productivity of a group of seven major advanced economies (G7) and the major emerging economies, viz., India, South Africa, Indonesia, Brazil, Mexico, South Korea, China, and Australia, over the period from 1980–2017 in a multivariate model. Design/Methodology/Approach : The econometric techniques of cross-sectional dependence test, second-generation panel unit root tests, panel cointegration, and augmented mean group estimator were used. Findings : The study found that while the development of financial markets is conducive to productivity growth of both manufacturing and market services of emerging economies, they have a larger impact on market services than the manufacturing sector. Another key finding of the study was that while financial development influences the productivity of emerging economies positively and significantly, the impact is either negative or insignificant for the G7 economies. Thus, the study found that development in financial markets may not affect the productivity of various sectors uniformly. Moreover, the continuous expansion of the financial system may not be beneficial for an economy but may become detrimental after a point. Practical/Policy Implications : The differential effect of finance on labor productivity across sectors entails the policies specific to sectors in emerging economies. Moreover, the negative impact of financial development on productivity in developed countries emphasizes the need for improvement in the quality of finance rather than the mere size of finance. Originality/Value : The study used advanced non-stationary panel data techniques that incorporate heterogeneity and cross-sectional dependence to examine the influence of financial development on labor productivity at the sectoral level in the recent period for both emerging and advanced economies of the world.

Purpose : The study was carried out to produce empirical evidence to examine the relationship among corporate governance (CG) parameters, ownership structure, and corporate performance.Methodology : CG parameters included board size, CEO duality, board meetings attended, board busyness, and audit committee size and its independence. The ownership of the structure was determined by insider, foreign, and institutional ownership. A sample of 500 NSE-listed firms was selected for the study. Data analysis was conducted using STATA 17 and SPSS 25. Before conducting the regression analysis, the study undertook a series of diagnostic tests to ensure the reliability, robustness, and validity of both the dataset and the econometric models employed.Findings : The findings indicated that CG variables and ownership structure had a positive impact on firm performance. To elaborate, CEO duality ; board meetings attended ; board busyness ; audit committee size ; and insider, foreign, and institutional ownership were found to have a positive impact on performance. However, neither board size nor audit committee independence established any influence.Practical Implications : Companies may adapt their governance structures and diversity initiatives to enhance their competitive advantage and long-term sustainability. This study emphasized the importance of enhancing corporate governance (CG) and strengthening laws to achieve better firm performance in emerging markets. Additionally, the interests of insiders, as well as those of foreign and institutional investors, must be aligned with the company to support long-term wealth creation.Originality : Instead of utilizing the standard system found in the literature, we relied on a single-measure structure that incorporated a variety of CG parameters and ownership.

Purpose : Despite the government’s efforts to endorse a cashless economy, the adoption rate of digital payment methods, such as unified payment interfaces (UPI), remained low in the unorganized Indian retail sector. This research paper investigated positive and negative factors that impacted the intention to adopt UPI payment apps by unorganized retailers. It also developed a conceptual model to explain the adoption intention of UPI payment apps with the help of extended valence theory (EVT). Design/Methodology/Approach : A qualitative study was conducted using NVIVO-15 software to develop a conceptual model based on EVT. Forty-five semi-structured, in-depth interviews with unorganized retailers were executed using the snowball sampling technique. Findings : A conceptual model was developed to analyze the factors influencing the adoption intention of UPI payment apps. The study identified several positive and negative valences, along with the trust factor, that affected adoption intention. This model suggested that positive valences were perceived usefulness, perceived ease of use, social influence, and facilitating conditions, while negative valences were perceived financial risk, perceived security risk, and perceived operational risk. Implications : This study contributed to the theoretical understanding of unorganized retailers’ adoption intention of UPI payment apps using EVT. It also suggested managerial implications for policymakers as well as financial institutions to play an active role in penetrating the retail market of the unorganized sector in India. Originality/Value : The present short communication study is unique, as positive and negative valences, as complementary predictors of adoption intention of UPI payment apps in the unorganized retail sector have not been explored in the Indian context.

Purpose : This research paper examined the investment behavior of retail investors in initial public offerings (IPOs) in India. IPOs served as an avenue for companies to raise capital by offering shares to the public for the first time. Retail investors, as crucial participants in the IPO market, played a significant role in shaping the overall investment landscape. The study aimed to analyze the factors influencing retail investors’ investment decisions and IPO investment outcomes.Methodology : The cross-sectional survey was carried out in April–July of 2023. A convenient sampling technique was applied. The data were analyzed using chi-square, regression analysis, t-test, and descriptive analysis.Findings : The study discovered that important considerations for selecting IPOs included goodwill, the company’s history, its present financial situation, management profile, promoter’s background, IPO grade, market participant disclosures, and the grey market premium. On the other hand, the promoter’s stake, IPO price band, current position in the secondary market, and competitive position were not found to be significant factors. The study also found that fear of loss of money, lack of proper knowledge, and the fact that family does not allow are the reasons for not investing in the IPOs.Practical Implications : The results clarified the primary factors influencing the behavior of retail investors in IPOs and offered valuable perspectives on how to improve investor protection and market efficiency through regulatory interventions and effective investor education.Originality : This study was different from previous IPO studies in that it concentrated on retail investors. When it comes to comprehending the distinct attitudes, perspectives, and decision-making processes of retail investors in IPOs, there is a clear vacuum in the literature. The present study also analyzed those respondents who were not willing to invest in IPOs to determine the reason for the same.