Shanlax International Journal of Management

Empowering Women Cashew Workers Through Financial Capability: Insights into Decision-Making Power

C. Benny, S. Umaprabha, S. Soju — Tue, 01 Jul 2025 00:00:00 +0000

Even while financial instruments are becoming more widely available, many women cashew workers face barriers to effectively utilising these platforms because they lack the necessary financial skills, to make financial decisions and achieve economic empowerment. We examined the impact of independent variables like financial behaviour, attitude, and knowledge on financial decision-making. Structural Equation Modelling (SEM) was used to analyse 385 respondents. Result of the study revealed that decision-making was significantly and robustly influenced by women cashew workers intention to save money for making purchases and budgeting. These results highlight the need for a unique approach and initiatives to improve the financial capability of women cashew workers of both urban and rural areas. More research could look at Kerala and add a comparative analysis of other Indian states. Subsequent research endeavours may go beyond Kerala to incorporate a comparative evaluation across several Indian states. This would give a more thorough grasp of how cashew workers’ financial literacy varies by location. The effects of parental education levels, gender, and income background on financial behaviour and financial literacy can be examined in more detail. Future research should look at how digital financial tools affect cashew workers’ financial literacy and habits as a result of the growing usage of fintech, digital wallets, and UPI platforms.

Evaluate the Financial Performance of Pre and Post Mergers and Acquisitions during the Covid

H. R. Sindhu, G. Nandini — Tue, 01 Jul 2025 00:00:00 +0000

Mergers and Acquisitions have become one of the most widely adopted strategies for the reorganization of companies, particularly during uncertain times. It is a game-changing event that creates a more positive impact in terms of growth and structural changes in the business. This study evaluates the financial performance of selected companies before and after mergers and acquisitions during the COVID-19 pandemic. Data has been collected for 5 selected companies that underwent M&A during 2020 and analysed for the period from 2016-17 to 2023-24. The primary objective of M&A is to expand businesses and achieve growth during a period that proved to be critical for sustainability. M&A deals declined as companies prioritized survival amid economic uncertainty.
However, a few companies pursued M&A and were successful in meeting strategic needs and achieving post-pandemic growth. This study aims to analyze and compare the financial performance of companies involved in M&A during 2020 and to assess how successful they became post their strategic alliance. Key financial variables are analyzed to capture the changes before and after M&A and tested using the Paired t-test. The statistical results show that the Current Ratio and Quick Ratio demonstrated significant improvement, with p-values of 0.02 and 0.01, respectively, post-M&A. In addition, the Debt-Equity Ratio and Return on Assets also showed statistically significant changes with p-values of 0.000 and 0.02, respectively, post-M&A. The overall findings of this study reflect that there is consistent improvement and stability in financial performance post-M&A; however, profitability and market valuation outcomes did not show significant changes.

Exploring the Impact of Organizational Culture and Leadership Behavior on Job Satisfaction

M Jayanthi, M Radhakrishnan — Tue, 01 Jul 2025 00:00:00 +0000

The essence of an organization's culture encapsulates enduring convictions and values held within, including the perspectives of the staff and their perceived significance of their contributions, shaping their demeanour and actions. Leaders in the organizational sphere frequently adjust their leadership style in accordance with the organization's mission, and this adaptation can profoundly influence the contentment of employees in their roles. Therefore, understanding the intricate interplay among organizational culture, leadership style, and employee job satisfaction is paramount. To delve into this dynamic, a comprehensive study was conducted among nurses in Taiwanese hospitals using a cross-sectional approach. A meticulously crafted survey was deployed to gather data, with 300 surveys disseminated and 200 valid responses received. Rigorous reliability analysis, utilizing Cronbach's alpha and confirmatory factor analysis, was executed to scrutinize the data. Subsequently, correlation analysis was applied to explore the relationships between organizational culture, leadership style, and job satisfaction. The findings unveiled noteworthy correlations between organizational culture and both leadership style and job satisfaction. Furthermore, a significant correlation was discerned between leadership style and job satisfaction.

Price Discovery Process in Spot and Futures Markets in India: Evidence from Nifty and Bank Nifty Index

S. Srinivasan, M. S. Ramaratnam — Tue, 01 Jul 2025 00:00:00 +0000

Purpose: This study examines dynamic nature of relationship among spot (cash) market and its respective futures markets of Nifty & Bank Nifty indices on the Indian stock exchange, with a focus on identifying long-term equilibrium and the direction of price discovery.
Methodology: Using daily data from 1stJanuary 2017, to 31stDecember, 2021, the analysis is structured in three stages. First, stationarity of the data is evaluated using Augmented Dickey-Fuller, and further confirmed using Phillips–Perron methods. Second, cointegration analysis is conducted using both Engle and Granger residual-based approach and Johansen-Juselius approach to assess short-run and long-term co-movements between stock prices in spot market and futures prices. Ultimately, temporal relationships and adjustment rates for price imbalances are examined through Vector Error Correction Approach(VECM) methodology.
Results: The findings validate extensive long-run cointegration between spot and futures market for both indices, reflecting strong integration of the markets. The VECM estimates also confirm that futures market has leading role in pricing process since it reacts faster than the spot market. This suggests futures segment drives the cash market in absorption of information, hence improving overall market efficiency.
Conclusions: The research reaffirms the pivotal role of futures market towards guiding direction of price movements in the spot market prices and justifies the efficient market hypothesis in the Indian context. It underscores the maturity and responsiveness to information of India’s derivatives market, particularly with regard to the Nifty and Bank Nifty indices.
Implications: For traders and hedgers, the futures market serves as a key signal for timing positions. Institutional investors can use these findings to refine hedging and arbitrage strategies. Regulators should focus on ensuring market liquidity and transparency to support continued efficiency.
Future Directions: Future research could incorporate high-frequency intraday data and modern techniques such as GARCH models, regime-switching frameworks, or machine learning to better capture short-term volatility and evolving price dynamics in Indian financial markets.