Analysis of Foreign Direct Investment Inflows of BRICS Countries for Pre-Pandemic Period and during Pandemic Crisis

In the summit held in 2009, the leaders of Brazil, Russia, India China, and South Africa decided to identify themselves as a formal institution, and BRICS was declared as a formal institution in the year 2010. According to the UNCTAD report, these nations are identified as favored destinations for investments in FDI (Supachai, 2009). BRICS countries being recognized for their plenary FDI are also facing difficulty in attracting FDI inflows due to pandemic crises. FDI boosts entrepreneurship and is a great source of employment to millions. Thus there is a necessity to focus on the growth of FDI Inflows. The main purpose of this research is to study the growth trend of Foreign Direct Investment inflows of Brazil, Russia, China, India, and South Africa. The Study concentrated on seven years’ data (2014-2020) of FDI inflows collected from the statistics published by the Organisation for Economic Co-operation and Development (OECD) and International Monetary Fund (IMF). The data were analysed using Trend Percentages, CAGR (Compound Annual Growth Rate), Mean Scores, ANOVA, and LSD Post Hoc test. The results of the analysis showed that China bags the first rank in attracting FDI and South Africa stands last in attracting FDI among BRICS countries. The study also revealed that there is a significant difference in the FDI inflows amongst BRICS Countries

Role of Renewable Energy and Financial Innovation in Environmental Protection: Empirical Evidence from UAE and Saudi Arabia

In modern times, many countries are committed to achieving climate neutrality and environmental sustainability. Without financial innovation and green financing, switching to clean energy, reducing carbon emissions, and mitigating climate change will be impossible. The main objective of this study is to obtain zero carbon to protect the environment. To analyze sustainable development pathways, this research examines the impact of renewable energy and financial innovation on the environmental protection of the United Arab Emirates and Saudi Arabia from 2010 to 2021. The use of renewable energy sources, pollution, and climate change are all significant elements. Innovation can help slow the rate of global warming by lowering carbon emissions and expanding the usage of renewable energy sources. Green financing and innovation are powerful tools for environmental safety and deterioration. The acceleration of renewable energy growth is the primary driver of sustainable development. Moreover, green financing balances the innovation–energy–environment–climate nexus. Similarly, green finance amplifies the positive effects of innovation on using renewable energy. This study provides valuable insights into achieving zero carbon by producing renewable energy sources and modern green technology. Further research is possible by adding more dimensions of renewable energy sources

Valuation of Indian IPO’s Allotment and Current Price Analysis - Are Indian IPOs Overvalued?

Purpose: This study was conducted to analyze the IPOs of companies listed between 1st January 2021 to 30th April 2021 with the objective to determine whether the price at which the IPOs were introduced are fair, undervalued or overvalued and whether the performance of these IPOs have a significant relationship with factors such as the size of the IPO, age of the company and the proportion of promoters holding in the company. Theoretical framework: Companies registered in India can usually raise funds in two ways: borrowing money using debentures or issuing shares. An initial public offering is a financial arrangement wherein the shares of a private company are offered for sale for the first time to the general public. Based on the theory described in, a semi-theoretical pricing framework is created for the fixed-price and book-building mechanisms. Design/methodology/approach: The data were collected from NSE (National Stock Exchange) website and analyzed using the metrics such as Abnormal Returns which is calculated in order to analyze if the IPOs are underpriced, overpriced or fairly priced and Regression has been performed to check if there is any significant relationship among the Age, Size of IPO and promoter’ holdings in the company after the IPO with the listing day gains or short-term gains of the IPO. Findings: It was found that the Indian IPOs are undervalued and thus leave money on the table for the issuer of these IPOs. From the regression analysis, it is observed that there is no significant relationship between the factors such as age of the company, promoters’ holding in the company and the size of the IPO with the listing days returns and the 10-day period return of the IPO. Research, Practical & Social implications: Although most researchers believe that IPOs are usually affected by hot and cold periods or bearish-bullish trends, we are trying to determine the effectiveness of book-building method for IPOs following the pandemic in India. The study uses tools such as Abnormal Mean Return (AMR) and Regression to analyze the price of IPO, total returns on and after 10 days of listing of the IPOs, the market return during the same period, and the relationship of these returns with other variable like size, ownership and promoter’ holdings in the company to determine if they have any significant impact on these returns. Originality/value: Fair valuation of an IPO could be the reason for its success and over-valuation and under-valuation may lead to its failure and may result in huge monetary losses. The current research on IPO is significant in the sense it contributes by making it clear about the concept of IPO through Literature and about its valuations through analysis which is based on Abnormal Returns and Regressio

Investigating key funds characteristics influencing their investment performance in Saudi Arabia: A dynamic panel data approach

The study examines if specific characteristics of funds influence the performance of Saudi equity mutual funds. Previous research has explored various aspects of mutual funds. However, the Saudi Arabia literature focuses on evaluating the funds’ performance. Hence, this study seeks to close this gap by providing a framework to explain the equity fund performance. Several risks adjusted performance measures are applied such as Jensen’s alpha, lower partial moment alpha, Sharpe ratio, LPM-Sharpe ratio using the dynamic panel specification over the period 2010–2019. Based on the LPM alpha, the risk-adjusted return analysis reveals that the Saudi equity funds outperformed their benchmark over the full sample period. The empirical results show that major fund-specific characteristics such as fund size, past performance, and flow explain future performance. Besides, the evidence confirms that Saudi funds benefit from the economies of scale and expertise, while funds requiring higher levels of initial investment tend to exhibit lower performance levels. These findings provide investors and fund managers with useful information to make the optimal investment decisions in the mutual fund industry

Relationship between Green Leaders’ Emotional Intelligence and Employees’ Green Behavior: A PLS-SEM Approach

The green leadership (GL) concept has significantly gained popularity over the last decade. Consequently, more research has been conducted on this emerging leadership concept, emphasizing leadership styles that promote the green environment so that sustainable goals can be achieved. In the present research, leaders’ emotional intelligence (EI) is positioned as a mediating variable between GL and employees’ green organizational citizenship behavior (GOCB). The data of this research comprised managerial and non-managerial staff from the manufacturing and service industries. A PLS-SEM was used to evaluate the relationship between the various factors among 422 employees. The empirical findings indicated that GL and GOCB had a favorable and robust relationship. The results of the study also suggested that a leader’s EI mediates the influence of green leadership on their employees’ green organizational citizenship behavior. Green leadership is essential in creating sustainable environmental behaviors among employees. It can strengthen leaders’ EI, which successively helps them to garner positivity and foster an environment of mutual harmony and cooperation in the workplace to support pro-environmental policies. Overall, our study contributes to and advances previous studies and shows that green leadership plays a critical role in influencing a leader’s own EI which, in turn, predicts the green OCB of their employees in the workplace