Journal of Asia Entrepreneurship and Sustainability
The Journal of Asia Entrepreneurship and Sustainability (JAES) is an international, peer-reviewed, open-access academic journal focused on advancing research at the intersection of entrepreneurship and sustainable development across Asia. The journal provides a scholarly platform for exploring how innovation, enterprise, and policy contribute to inclusive economic growth and environmental sustainability in diverse regional contexts. Publisher: Asia Academic Press Language of edition: English. Founded: 2005 ISSN: e-1176- 8592, p-1177-4541 Publication Frequency: • Quarterly (2005–2025) • Monthly (from 2026 onward) DOI Prefix: 10.66635 (All articles published up to Vol. 22 No. 3 (2026) retain the original DOI prefix 10.5355, 10.69980 which remains valid and fully resolvable)
Rethinking Higher Education Pedagogy for Generation Z: Strategies, Challenges, and Theoretical Perspectives on Artificial Intelligence Integration
University students belonging to Generation Z have brought to higher education learning habits, attention patterns, and expectations formed almost exclusively in an environment where interactions with digital and algorithmically mediated technologies prevail. Simultaneously, advanced generative and adaptive artificial intelligence (AI) tools are no longer limited to peripheral applications within the field of educational technology but have become integral in helping students search for information, develop writing skills, receive constructive feedback, and manage their learning behavior. This paper offers a conceptual and systematic literature review of the topic of how AI could be effectively used in higher education in order to improve learning of Generation Z students. The study analyses peer-reviewed research articles found in Scopus- and Web of Science-indexed Journals over the period of 2015-2026 and focuses on the ways how personalized and adaptive learning systems, intelligent tutoring systems, and generative AI tools like ChatGPT influence students' motivation, engagement, and self-regulated learning. In order to do so, the review employs four theoretical frameworks: Prensky's framework of digital natives, Self-Determination Theory, Self-Regulated Learning Theory, and the Unified Theory of Acceptance and Use of Technology (UTAUT2). The paper discusses the existing pedagogical approaches such as flipped and hybrid classrooms, use of AI in formative assessment, gamification and project-based learning, and prompt literacy, as well as major problems associated with the application of AI in the learning process (algorithmic bias, academic integrity, dependency on AI, data privacy issues, and inequitable access). In the conclusion, AI has the highest potential in education when it is used to complement rather than to replace human instruction, and when universities combine technology use with training in critical thinking, digital ethics, and self-control. Implications for curriculum design, teacher development, and policy-making are discussed along with suggestions for future research.
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Microfinance and SME Development: Evaluating Financial Management Practices for Long-Term Business Sustainability
Small and medium-sized enterprises (SMEs) play a critical role in economic development; however, many SMEs continue to face financial instability despite increased access to external financing and microfinance support. This study examines the influence of operational financial indicators on SME financial sustainability using secondary operational financial data. Specifically, the study investigates the effects of revenue, accounts receivable days, inventory days, loan balance, and owner injections on SME financial stress. A quantitative explanatory research design was employed using a secondary dataset consisting of 1,600 SME observations obtained from Kaggle for the period 2024–2025. Descriptive statistics, correlation analysis, logistic regression, and machine learning techniques, including Random Forest classification with SMOTE balancing, were applied to analyze the data. The findings reveal that inventory days significantly increase SME financial stress, indicating that inefficient inventory management weakens liquidity and operational sustainability. Accounts receivable days also demonstrated a moderate positive relationship with financial stress, while revenue, loan balance, and owner injections did not show statistically significant effects in the regression analysis. Furthermore, the predictive model demonstrated limited classification capability, suggesting that SME sustainability is influenced by broader operational and managerial factors beyond financial indicators alone. The study contributes to SME sustainability literature by integrating operational financial analysis with predictive analytics and provides practical implications for SME financial management and policy development.
A Study on Financial Planning of Working Women across IncomeLevels
Financial planning is an important aspect in ensuring prosperity in the economy; however, working women in India are still dealing with various barriers when trying to do their financial planning. This research aims at examining the behavior, awareness, and practices related to financial planning by the working women in India in the Education and Corporate professions. It seeks to find out if there are any significant differences in the financial planning behavior and practices of working women depending on their profession. In this research, a structured 25 statement questionnaire using a Likert Scale measuring seven variables – Budgeting & Awareness, Financial Independence, Knowledge & Preparedness, Investment & Planning, Confidence & Goals, Insurance & Emergency Funds, and Investment Instruments - was used to collect data from 110 working women (60 respondents from the Education profession and 50 respondents from the corporate profession). This study used one-way ANOVA to test for mean differences among different occupational groups. Statistical results showed F(1,108) = 11.389, p = 0.001, indicating a significant difference in financial management scores between women working in the corporate sector and those in the education field. All seven sub-dimensions recorded p < 0.05, and women from corporate backgrounds scored higher on every single dimension. Follow-up analysis will be elaborated in subsequent sections. From the analysis, it is evident that women profession is an important variable affecting their financial planning behavior. It espouses to start financial literacy initiative for the education sector, to invest through institutions and to draft policies for financial empowerment of women.
From Emotional Awareness to Digital Resilience: Understanding the Influence of Emotional Intelligence on Social Media-Induced Stress Among Generation Z
Social media is now a core component of how Generation Z communicates, learns, builds a professional identity and seeks entrepreneurial opportunities. Despite this constant connectivity, social comparison, cyberbullying, information overload, public evaluation, and pressure to be seen, there can be significant emotional strain. This article explored the emotional intelligence's influence on stress reactions to social media and its role in digital resilience for Generation Z. A complete integrative approach combined evidence from empirical, theoretical and institutional literature from the period 2018-2025. Emotional awareness, emotional regulation, adaptive coping, digital resilience, entrepreneurial well-being, and sustainable digital participation were the analysis concepts. Results showed that EI was beneficial for youth in identifying emotional triggers, in controlling impulsive reactions, in understanding online interactions and in engaging in healthier coping. The adaptive pathway between emotional awareness and regulation and recovery from negative online experiences was found to be digital resilience. Use patterns were linked to different outcomes, depending on the intensity of use, the features of the platform, social support, culture, digital literacy, and vulnerability. Emotionally savvy Generation Z users might be more equipped to deal with the many reputational challenges they are likely to face in an Asian digital economy, along with algorithmic uncertainty, customer interaction, and constant digital visibility. These skills can maintain creativity, psychological well-being, productive involvement, and entrepreneurial involvement over time. The development of emotional intelligence, digital-resilience skills, responsible platform design, and accessible mental-health support should be combined in universities, entrepreneurship programmes, workplaces, platforms and policy makers. The article adds an integrated pathway from emotional awareness to adaptive coping to digital resilience to sustainable digital entrepreneurship.
An Empirical Analysis of Growth Trends and Usage Patterns of Unified Payments Interface (UPI) Applications in India
India's Unified Payments Interface (UPI) applications acted as a transformative step towards digital payments in the global scenario, setting up an example of how cutting-edge fintech products can promote growth and financial inclusion in developing nations. In the concerned paper, secondary data were collected from the National Payment Corporation of India. It examined data on transaction volume (in millions), transaction value (in ₹ crore) and number of participating banks using a seven-year time-series dataset. Quantitative techniques were used to analyze various trends and relationships within the data,it determined the Interdependency between UPI transactions volume and financial inclusion index using Regression analysis including calculating compound annual growth rates (CAGR), analyzing year-on-year changes, and determining the average transaction volumes. The key findings reveal UPI transaction volumes showcased an increasing trend dramatically during the study period, from 799.54 million to 18,680 million transactions, which showcases an overall growth of about 23 times. The CAGR of transaction volume was around 68.2% in comparison with 60.2% CAGR observed in transaction value. for regression analysis the results were statistically significant showcasing the relationship between the usage of UPI and financial inclusion.UPI has led to a reduction in cash Usage in the economy by making strong network effects, leading to widespread digital payment adoption.The upsurge of transactions provides supports to sustainable economic development by giving a boost to financial inclusion and providing access to digital financial services for micro and small businesses.It provides a scalable blueprint for digital entrepreneurship across the region the findings provide certain policy insights for strengthening India's sustainable digital payment ecosystem.
Beyond Self-Rating Leadership: A 360-Degree Audit Architecture for Evidence-Based Executive Maturity Assessment
Leadership assessment often privileges self-perception or superior appraisal, even though executive conduct is experienced differently by peers, employees, clients, partners and institutional stakeholders. This paper develops a 360-degree audit architecture for evidence-based executive maturity assessment using the Total Leadership Index (TLI). Unlike conventional multi-source feedback, the proposed architecture does not treat ratings as interchangeable opinions. It preserves source visibility, links scores to observable behaviour and documentary evidence, assigns a separate evidence-confidence grade, fixes role-sensitive weights before data collection, and embeds confidentiality, consent, non-retaliation, calibration and due-process controls. The study follows a conceptual-methodological framework-development approach and integrates literature on multi-source feedback, self-other agreement, performance assessment, sustainable leadership, organizational resilience and succession governance. The resulting model specifies five rater categories, a standard 25-20-25-20-10 weighting structure, source-specific evidence standards, moderation rules, red-flag handling and an implementation cycle for corporations, SMEs, entrepreneurial ventures, project organizations and public institutions. The paper’s principal contribution is to reframe 360-degree feedback from a developmental survey into a governed audit of executive impact across four maturity domains: decision stillness, temporal precision, structured reflection and governed speech. The architecture is positioned as a mechanism for strengthening leadership succession, resilient execution, stakeholder trust and long-term organizational sustainability. Because the model is conceptual, no empirical effectiveness claims are made; a staged validation agenda is proposed for psychometric testing, inter-rater reliability, fairness, predictive validity and longitudinal development outcomes.
Mapping the Landscape of Social Sustainability in Manufacturing-Based MSMEs: A Bibliometric Systematic Literature Review
This study puts together a systematic review of the evolving social sustainability research landscape in manufacturing based MSMEs, with a specific focus on the Indian context, by means of a bibliometric review of 1135 Scopus indexed publications. The paper, adopting PRISMA guidelines and VOSviewer, identifies the main themes related to worker safety, gender equity, fair wages and community engagement. It utilizes emerging model such as Industry 5.0 and green entrepreneurship and addresses how social practices influence economic performance and growth. It is found that there are regional and thematic gaps, particularly in the field of mental health, employment ergonomics and notably in the Northeast India which is underrepresented. This study contributes by consolidating current knowledge and provides tools for practitioners in the context of alignment of local practice with global sustainability goals through proposing implementation frameworks. Based on the findings, future research is proposed for encouraging inclusive, resilient, and digitally empowered MSMEs in various sectors in India.
From Financial Access to Financial Management: A Bibliometric Analysis of Rural Women’s Entrepreneurship Research
Rural women entrepreneurship plays a very important role in fostering inclusive economic growth, reducing poverty, and empowering gender, yet access to finance and effective financial management remain persistent challenges. Despite a growing body of literature on rural women entrepreneurship and financing, existing research is shattered across themes, methodologies and region, limiting a comprehensive understanding of the field. To address this gap, this study employs a bibliometric review to map the intellectual structure, research trends, and emerging themes in rural women entrepreneurship and rural financing research. Using data mined from the Scopus database, Bibliometric techniques, including citation analysis, co-authorship analysis, country-level analysis, and keyword co-occurrence analysis, were conducted using VOSviewer. The findings reveal a growing scholarly interest in the field, with India emerging as the most productive country, while the United States and China demonstrate higher citation impact and stronger international collaboration networks. Keyword clustering identifies dominant research themes related to financial literacy, financial behaviour, sustainability, rural household finance, and behavioural finance. However, the analysis highlights limited collaboration among authors and a significant lack of empirical studies focusing on practical financial management aspects such as bookkeeping, working capital management, debt handling, and revenue planning. The study concludes that future research should adopt more collaborative, region-specific, and practice-oriented approaches to bridge the gap between financial awareness and effective financial management, thereby strengthening the sustainability of rural women entrepreneurship.
Satisfaction Of Agro-Based Enterprises with Financial Services of Commercial Banks: A Study of Nagaon District, Assam
Agro-based enterprises occupy a central place in the rural economy of Nagaon district, Assam, where agriculture and allied activities support the livelihood of a large majority of the population. The growth of such enterprises including rice and food processing, dairy, fishery, sericulture, handloom and horticulture-based units depends significantly on the timely and adequate availability of institutional finance from commercial banks. This paper examines the level of satisfaction of agro-based enterprises with the financial services rendered by commercial banks operating in Nagaon district, using service-quality dimensions of tangibility, reliability, responsiveness, assurance and empathy as an analytical framework. Based on a review of relevant secondary literature on rural and MSME banking in Assam and India, and a proposed primary survey design, the paper identifies procedural delay, collateral requirements, limited financial literacy and inadequate personalised attention as recurring concerns, alongside general satisfaction with deposit and remittance services. The paper concludes with suggestions for improving credit delivery and customer engagement for agro-based enterprises in the district.
Entrepreneurship in Ecotourism: Assets and Challenges – The Case of Biskra Province
This article explores the role of entrepreneurship in promoting ecotourism as a sustainable development strategy in Biskra Province, a region rich in natural and cultural resources. Despite its potential, the sector faces major challenges, including poor infrastructure, limited institutional support, and bureaucratic barriers. Using a descriptive-analytical approach and 2023 field data, the study reveals that 62% of youth cite lack of financing as the main obstacle, while 28% point to administrative hurdles. The research recommends adopting a local ecotourism strategy, supporting green business incubators, enhancing training, and fostering collaboration among local actors
Strategic Management Practices for Sustainable Entrepreneurship: A Conceptual Analysis in Asian Economies
This study examines the role of strategic management practices in promoting sustainable entrepreneurship among small and medium-sized enterprises (SMEs) in Asian economies. With increasing environmental and social challenges driven by rapid industrialization and economic growth, SMEs are under pressure to adopt sustainability-oriented strategies while maintaining competitiveness. The study adopts a quantitative research design using cross-sectional data from 200 SMEs across multiple Asian countries, covering diverse industries and firm sizes. Key strategic variables, including leadership, innovation, resource efficiency, stakeholder engagement, and corporate social responsibility, are analyzed in relation to sustainability outcomes such as environmental performance, social impact, and financial performance. The results indicate that SMEs demonstrate moderate to high engagement in strategic and sustainability practices, with innovation emerging as a strong driver of environmental performance, while leadership and resource efficiency significantly influence financial outcomes. Stakeholder engagement is found to positively contribute to social impact. Furthermore, medium-sized enterprises outperform smaller firms, highlighting the importance of resource availability and organizational capabilities in implementing sustainable strategies. Correlation and trend analyses confirm strong positive relationships between strategic practices and sustainability outcomes, emphasizing the need for an integrated approach. The study concludes that effective strategic management is essential for achieving sustainable entrepreneurship and long-term business success in Asian economies, offering valuable insights for entrepreneurs, policymakers, and practitioners seeking to enhance sustainability performance.
A Camel Analysis Of Pre And Post-Merger Of Indian Bank
ModEconomic liberalization, as a product of globalization since the early 1990s, has resulted in developing a sense of urgency among corporate entities to analyze the impact of restructuring strategies on the performance of the organizations. Incidentally, the Government of India, along with the Reserve Bank of India, has initiated mergers and acquisitions in the Indian banking sector with the anticipation that it would accrue benefits to the banks in terms of economies of scale and also make an attempt to make the Indian banks more competitive and effective in the global sphere. In this study, we analyzed and compared the performance of the Indian bank after its merger with Allahabad Bank. 6 years of data were taken into consideration: 5 years before the merger from 2015-16 to 2019-20, and 5 years after the merger from 2020-21 to 2024-25. From the analysis, the CAMEL model was taken into consideration. All ratios, such as asset quality ratio, management efficiency ratio, earning efficiency ratio, and liquidity ratio, showed improvement after the merger. From the study, the researcher found that some ratios show improvement in the performance of the Indian bank after merger with Allahabad Bank, such as business per employee, profit per employee, CAR ratio, and gross NPA and Net also decline after the merger, which shows significant improvement.
Corporate Social Responsibility and Ethical Governance in Indian Educational Institutions: A Study of Emerging Best Practices
Corporate Social Responsibility (CSR) has evolved as a significant framework for educational institutions in India to align academic pursuits with social development and ethical governance. This study explores CSR initiatives undertaken by premier institutions such as IITs, IIMs, and private universities, focusing on their programs, funding mechanisms, and areas of community engagement. It further examines how ethical principles—transparency, accountability, and inclusiveness—are integrated into CSR practices to enhance stakeholder trust and ensure long-term impact. By analyzing existing literature, identifying implementation challenges, and documenting best practices, the study addresses gaps in understanding CSR’s role within educational settings. The findings highlight the potential of CSR to not only support community welfare but also shape responsible leadership and sustainable development. Recommendations for enhancing the effectiveness of CSR strategies are proposed, emphasizing the need for structured evaluation, regional customization, and ethical leadership development. This research contributes to the ongoing discourse on how education-driven CSR can serve as a transformative tool for societal progress.
Changing Behaviour of Retail Mutual Fund Investors: A Comprehensive Review with Special Reference to the Patna Region
This review paper deals with the changing behavior of the investors in retail mutual fund with special reference to the Patna region. Individual investors have found mutual funds to be an attractive investment opportunity, with the benefits of professional fund management, diversification, liquidity, and the rise of Systematic Investment Plans (SIPs). The paper highlights the literature review of literature on investor awareness, financial literacy, risk perception, behavioural biases, digital investment platforms, and regional investment preferences. It is emphasising the trend among retail investors to move away from traditional savings vehicles like gold, insurance, real estate and fixed deposits into market-linked vehicles, which has been a gradual process. The Patna region saw this behavioural change being affected by the rise in financial literacy, ease of access to digital mediums, involvement of the middle class, guidance and financial counselling, and increased interest in SIP investment. But factors like lack of financial knowledge, market risk, reliance on advisors and the desire for fixed income persist in influencing investors' choices. The review highlights the need of conducting more studies on the retail mutual funds investors of Patna region. The paper suggests that investor education, digital education, transparency in advisory services and awareness programmes can help boost the participation of retail investors in mutual funds.
Enhancing Tourism Management Through Artificial Intelligence: Trends, Applications, and Challenges
Artificial Intelligence (AI) is rapidly transforming the tourism industry by enabling automation, personalization, and improved decision-making. With the growth of digital technologies and big data, tourism organizations increasingly rely on AI-powered tools such as chatbots, recommendation systems, predictive analytics, and smart service platforms to enhance the travel experience. AI helps tourism providers analyze customer behavior, deliver personalized travel recommendations, manage resources efficiently, and improve operational performance. This paper explores the applications, benefits, and challenges of AI in the tourism sector. It also discusses emerging technologies such as virtual assistants, virtual reality, and smart destination management systems. The findings indicate that AI contributes significantly to customer satisfaction, operational efficiency, and innovation in tourism services. However, challenges such as data privacy concerns, technological dependency, and high implementation costs remain significant issues. The study concludes that AI will continue to play a critical role in shaping the future of tourism by enabling smarter, more sustainable, and personalized travel experiences.
A Study on Customer Perception and Satisfaction towards Cellular Service Providers in Villupuram District
In recent years, the demand for mobile phones has witnessed remarkable growth, making the telecom sector one of the fastest-expanding industries. Although the cellular industry emerged only in the recent past, its progress has been outstanding. To attract and retain customers, service providers are continuously introducing innovative features, attractive tariff plans, and additional facilities. Day by day, new competitors enter the market with appealing offers such as reduced call charges, free incoming services, and a wide range of handsets and models. This intense competition has ultimately benefited subscribers by providing them with greater choice and improved service quality. The telecom market, therefore, has become highly competitive, with companies striving to differentiate themselves through customer-centric strategies. In this context, the present study aims to examine the level of customer satisfaction towards mobile service providers, with special reference to Villupuram District. The primary objective is to understand consumer perceptions and evaluate how users feel about the services offered by different cellular providers. This research is based on primary data collected through a structured questionnaire, and the responses have been analyzed using statistical tools such as percentage analysis, factor analysis, and ANOVA. These techniques help identify the key determinants influencing customer satisfaction towards cellular service providers in the region.
A Study on Customer Satisfaction towards E- Banking Services with Reference to Selected Private Sector Banks in Cuddalore District
In the Banking Industry, it has been in the form of E-Services, which is now replacing the traditional banking practice. E-Service has a lot of benefits which add value to customers’ satisfaction in terms of better quality of service offerings. E-Services can be done both online and offline. Examples of E-Services are viewing of Account Summary, Overdraft Details, Transactions Details, etc through online and Deposit Account Opening, Deposit Amend/Renewal through offline. E-Services are considered important for the reasons of accessing a greater customer base, alternative communication channel to customers and to increase services to customers. It is very convenient and has become a great comfort for busy customers. However the banks are digitalizing their services and providing better E-Services to their customers, there is lack of complete digitalization because of some illiterate customers. It is not possible to educate them all, but it is possible to train them by conducting training sessions. Also the technological facts related to banks and their customers are hacked by some unauthoriesd persons, but this can be overcome by developing highly protected networks and applications used for E-Services in banking.
Asia Entrepreneurs Moving Into The Sustainability Sector: A Systematic Review
Asia’s fast-growing economies and entrepreneurial societies are increasingly turning toward sustainability. We conduct a systematic literature review following PRISMA guidelines to map research on Asia-based entrepreneurs moving into sustainable and green sectors. Searches of Scopus, Web of Science, and Google Scholar yielded approximately 1,000 records. After de-duplication and screening, we analyzed 50 peer-reviewed studies published between 2010 and 2025. We extracted key information on authors, countries, methods, and findings and applied thematic coding. Results show a sharp increase in research after 2018, paralleling momentum around the Sustainable Development Goals (SDGs). China and India predominate in the literature, with emerging focus on Southeast Asia. Key themes identified are: (i) Drivers—government policies, SDG alignment, and market opportunities encourage entrepreneurs to enter clean technology, agribusiness, and waste sectors; (ii) Barriers—lack of finance, inadequate infrastructure, and policy gaps slow the adoption of sustainable business models; and (iii) Impacts—sustainable ventures can improve economic outcomes and contribute to SDG attainment when operations are inherently green. For example, large-scale low-carbon policies in China significantly boosted urban green startups, whereas entrepreneurship alone can increase emissions unless low-carbon practices are adopted. The review uncovers research gaps, including limited attention to women entrepreneurs and rural enterprises, and calls for tailored incentives, green R&D financing, and cross-sector collaboration. We present a conceptual framework linking Asian entrepreneurs to sustainability outcomes and outline directions for future research.
Challenges for Establishing Brand Equity in the Digital Era with Special Reference to Generation Z: A Systematic Literature Review
The digital age has affected how brand equity is established, communicated, and maintained — especially for Gen Z, who spend much time on digital platforms and use interactive media. Older ways of creating brand equity (awareness, loyalty, perceived quality, and associations) will be less effective due to the increased use of social media, influencer marketing, e-WOM, AI-driven personalised advertising, m-commerce, and digital storytelling. Using a systematic literature review approach, this paper identifies key issues for firms attempting to establish brand equity digitally, with a focus on Gen Z. Studies relevant to the paper's objectives were located via searches of top-tier academic databases using predetermined search terms, then reviewed systematically. The findings from the review synthesise the available research to identify the most prominent themes and concerns about how to build brand equity for younger generations digitally. Findings indicate that Gen Z's formation of brand equity is significantly influenced by authenticity, trustworthiness, the degree of personalisation, social proof, influencer credibility, and the overall experience within an interactive digital platform. At the same time, there are many barriers that firms encounter in developing a sustainable brand equity relationship with Gen Z. These include digital clutter, distractions stemming from fractured attention patterns, consumer concerns about privacy, the volatile nature of loyalty, a vulnerable reputation, and rapidly changing preferences for the digital platforms used. This review concludes that developing brand equity in today's digital environment is no longer a one-way (linear), firm-controlled process, but rather a dynamic co-creative process driven by consumers/influencers/algorithms/online communities. Additionally, this study contributes by integrating disparate research into a coherent framework of current challenges in digital brand equity, providing a basis for future empirical research and strategic guidance for branding efforts.
Achieving Sustainable Development Goal 5 through Peer-to-Peer Accommodation: Empirical Evidence from Kaziranga National Park, India
The United Nations’ Sustainable Development Goal 5, briefly termed as SDG 5, exclusively focuses on gender. It emphasises “Achieve gender equality and empower all women and girls”. This study investigates how participation of women in Peer-to-Peer accommodation contributes to the fulfilment of Sustainable Development Goal 5 (Gender Equality) in ecologically sensitive destinations such as Kaziranga National Park (KNP). KNP is a UNESCO World Heritage site, renowned worldwide for its one-horned rhinoceroses, yet it faces increasing tourism pressure, and very minimal research is being conducted about how women’s participation in Peer-to-Peer accommodation contributes to gender equality. The results indicate that Peer-to-Peer accommodation acts as an entry point for women to directly participate in tourism activities, providing them a platform to transition from wage dependency to entrepreneurship, leading to community governance, cultural custodianship and integrating sustainable practices. Most peer-to-peer accommodations are home-based units, thus allowing women to host from home while balancing family responsibilities. Peer- to- peer accommodation in Kaziranga illustrates the potential convergence of local agency and global development goals, which contributes not only to the achievement of SDG 5 but also to the broader vision of the United Nations 2030 Agenda for Sustainable Development.
Role of Fintech in Transforming Financial Systems: A Study of Stock Markets, Capital Formation, and Entrepreneurial Ecosystems
The contribution of fintech to the evolution of financial systems in its effects on capital formation, involvement in the stock market and entrepreneur ecosystems. The analysis is based on an examination of 2,000 startups to study the trends in funding, the distributions of the industry, and the nature of firms to understand the effects of activities associated with fintech on the financial development. The amount of capital formation is measured by funding levels, and the integration of the stock market by IPO-stage is used as a proxy to the same. The results show that capital accumulation is largely encouraged by the funding course, and IPO-stage companies demonstrate the most achieved levels of financial mobilization. The startups in the finance sector have shown relatively greater levels of funding, which underscores the capital-intensive fintech innovation. Besides, the findings indicate that IPO-stage companies are a pivotal linking point between familial investment systems and market-based funds. The presence of country-level differences also supports the significance of maturity in entrepreneurial ecosystem in determining financial performance. In general, the study gives empirical data that fintech has played a role in the transformation of the financial system through increasing the efficiency of capital allocation, aiding the integration of markets, and developing innovation-based ecosystems. Although it encounters some proxy measurement constraints, the results provide useful information to policy makers, investors, and those researchers who intend to learn about the changing dynamics of fintech and financial systems.
Exploring the Determinants of Purchase Behaviour for Luxury Branded Durable Goods: An Analytical Study Centred on Patna District
The sociopsychological, economic, and marketing determinants of the buying process in Tier-II cities are empirically under-researched, as luxury brands are making inroads in these new urban geographies with durable goods. The present study aims on identifying the factors influencing the purchase behavior of luxury branded durable goods products in Patna District, Bihar, which is one of the fastest urbanizing Tier-II markets in India. The study tests seven hypothesised factors (social status aspiration, brand awareness, income adequacy, peer influence, quality perception, after-sales service quality, and emotional appeal) using descriptive statistics, Pearson correlation, and multiple regression modelling with a structured questionnaire administered to 320 purposively sampled respondents. Quality perception (β = 0.41, p < .001) and brand awareness (β = 0.38, p < .001) emerged as the strongest predictors, with the seven-factor model jointly explaining 64.3% of the variance in purchase behaviour (R² = .643, adjusted R² = .634, F(7, 312) = 80.18, p < .001). All seven hypotheses were supported. The results contribute to the Customer Based Brand Equity theory and the conspicuous-consumption thesis in Tier-II India and provide a data-driven approach for luxury brand managers to focus more on quality communication, digital brand-building and localized experiential marketing in aspirational non-metropolitan markets. Theoretical implications and managerial considerations, as well as limitations and areas for further research, are discussed..
Leader Emotional Intelligence and Successful Change Implementation: The Mediating Role of Trust in Leadership, Change Readiness, and Commitment to Change
Purpose The purpose of this study is to examine the influence of leaders’ emotional intelligence on the effective implementation of organizational change. Additionally, it investigates the mediating roles of trust in leadership, employees’ readiness for change, and commitment to change in strengthening the relationship between leader emotional intelligence and successful change outcomes. Design/Methodology/Approach This study adopts a quantitative research design. Data were collected through a structured questionnaire from employees working in organizations undergoing change initiatives. A total of 300 valid responses were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS software. This method enabled the assessment of both direct and indirect relationships among the study variables. Findings The findings reveal that leaders’ emotional intelligence has a significant positive effect on trust in leadership, employees’ readiness for change, commitment to change, and the overall success of change implementation. Furthermore, trust, readiness, and commitment to change significantly contribute to successful change outcomes. Mediation analysis confirms that these variables act as important mechanisms through which emotional intelligence enhances the effectiveness of organizational change. Originality/Value This study contributes to the existing literature by developing an integrated framework that explains how leaders’ emotional intelligence influences organizational change outcomes through key psychological mechanisms. It offers valuable insights into leadership effectiveness in dynamic environments and highlights the importance of fostering emotionally intelligent leadership to improve employee attitudes and ensure successful and sustainable change implementation.
Digital Intensity and Financial Performance of Indian Listed MSMEs: Evidence from an Observable Digital Maturity Index
Digital transformation is increasingly becoming a strategic imperative for small-firm competitiveness, but there is little evidence on whether observable digital maturity translates into improved accounting-based performance among listed micro, small and medium enterprises (MSMEs) in emerging-market contexts. This study develops and applies a Digital Intensity Index (DII) to examine whether Indian listed MSMEs with high digital presence and digital engagement are reporting better financial performance than firms with weak or moderate digital maturity. The DII is made up of five publicly observable indicators: the existence of an official website, social media activity, LinkedIn/professional visibility, the ability to engage customers online and digital content or campaign activity. A final cleaned sample of 38 listed MSMEs is classified in the groups of low/non-digital (ND-MSME), moderately digital (MD-MSME) and highly digital (HD-MSME). The financial performance is assessed by sales growth, return on assets, return on equity and net profit margin. The empirical strategy comprises descriptive statistics, one-way ANOVA, Tukey post-hoc comparisons, Pearson correlation, linear regression, sector-wise analysis and additional PLS-SEM validation for digital adoption mechanisms. The results show that HD-MSMEs out-perform ND-MSMEs and MD-MSMEs on all the four financial indicators. The significant inter-group differences are proved by the ANOVA and the regression shows that DII explains 37.4% of sales growth, 46.8% of return on assets, 41.1% of return on equity and 35.2% of net profit margin . The results suggest that digital maturity is a measurable strategic capability linked to growth, efficiency, profitability and shareholder return in listed MSMEs. The study presents a replicable evidence-based digital classification framework and offers policy and managerial implications for the digital upgrading of MSMEs in emerging economies.
Revisiting Community Entrepreneurship: A Theoretical Perspective on Sustainable Community Development
Community entrepreneurship has emerged as an important approach to promoting inclusive and sustainable development by integrating entrepreneurial activities with community participation, collective ownership, and social value creation. Unlike conventional entrepreneurship, which primarily emphasizes individual profit maximization, community entrepreneurship seeks to generate economic, social, environmental, and cultural benefits for the broader community. This paper presents a comprehensive conceptual review of the evolution, theoretical foundations, dimensions, drivers, and development outcomes of community entrepreneurship. Drawing on established theories including Social Capital Theory, Stakeholder Theory, Sustainable Development Theory, Resource-Based View, and Institutional Theory, the study develops an integrated conceptual framework that explains how community resources, human capital, social capital, leadership, innovation, institutional support, and entrepreneurial capabilities collectively contribute to sustainable community development. The paper further examines the role of community entrepreneurship in achieving the United Nations Sustainable Development Goals (SDGs), particularly those related to poverty reduction, gender equality, decent work, reduced inequalities, sustainable communities, responsible consumption, and multi-stakeholder partnerships. In addition, the review identifies key research gaps, highlights emerging opportunities associated with digital transformation and collaborative entrepreneurial ecosystems, and discusses policy implications for governments, educational institutions, non-governmental organizations, and development agencies. By synthesizing contemporary literature, this study provides a comprehensive theoretical foundation for future empirical research and offers practical insights for fostering resilient, inclusive, and sustainable community-based entrepreneurial ecosystems.
A Study of Mental Health and Academic Achievement among Tribal Adolescent Students
The present study investigates the relationship between mental health and academic achievement among tribal adolescent students enrolled in government high schools. Mental health was assessed using the Mental Health Battery (MHB) developed by Kumar and Gupta (1987), which evaluates six dimensions: Emotional Stability, Overall Adjustment, Autonomy, Security-Insecurity, Self-Concept, and Intelligence. Academic achievement was measured through a standardized Mathematics Achievement Test covering arithmetic, algebra, and geometry. The study was conducted with a sample of 100 tribal adolescent students (50 boys and 50 girls) from six government schools in Petalawad block, Jhabua district, Madhya Pradesh. Pearson's correlation analysis was employed for data analysis. Results revealed no statistically significant gender difference in either mental health or academic achievement scores. However, a significant positive correlation was found between mental health and academic achievement among tribal adolescents. These findings underscore the critical need for mental health support systems within tribal educational institutions to foster better academic outcomes.
Nature and Role of ‘Guru’ in Ancient India and its Relevance to the Modern Education System
The two important pillars of the education system are the teacher and the student. One is the giver of knowledge and the other is the receiver. No matter how interesting, scientific and up-to-date the teaching content, curriculum, teaching methods are; if those two pillars are weak, then the entire education system is bound to collapse. The education system that we are witnessing at the present time has various up-to-date theoretical and practical knowledge, advanced and scientific teaching methods. Highly educated teaching staff and capable students who have made their mark in various fields. But despite all this, the decline of society, the lack of real education is being observed. The reflection of book knowledge is not seen in life. If we review the history of human civilization, then we can find such a successful education system that makes life beautiful, removes all the filth from society and shows it the path from darkness to light. The ultimate conclusion of Vedic knowledge is in the Upanishads. The basic tone of the Guru-Shishya tradition is set within the Upanishad verses. The tender disciple will come with a pure, inquisitive mind, untainted, and undefiled, to the wise, restrained, father-like Guru, where he will sit in solitude and receive the teachings of life in silence. The nature of the Guru, the master of this knowledge sacrifice, his role in the life of the disciple, his duties, etc., are echoed in the Upanishads. Sometimes as a father, he taught the arrogant son to know the true knowledge by hand, sometimes as a husband, he advised the true nature of the Self to his wife. Sometimes God Himself incarnated as the Guru, and sometimes the disciple was educated through the teachings of nature. In various anecdotes in the Upanishads such as Chandvayogi, Brihadaranyaka, Shvetasvatara, Katha, etc., the nature of the Guru and his greatness in the field of education are described. There is no distinction of caste-religion, male-female, high-low, etc. in the Upanishad education system. The present article discusses the nature of the Guru as described in the Upanishads, his role and duties in education, which are also applicable and desirable in the education of the present era.
Exchange Rate Dynamics In An Emerging Economy: Monetary Policy Transmission And Macroeconomic Influences On India’s Nominal Exchange Rate
This study examines the macroeconomic determinants of the Nominal Exchange Rate (NER) in India using the data in the year-on-year from 1991-2024 within an ARDL framework. Drawing upon the monetary approach and contemporary exchange rate theories, the study investigates the influence of Money Supply, Interest Rate, Trade Openness, and Output Gap on the NER. The results confirm the existence of a long-run cointegration within the variables. In the long-run, monetary expansion & interest rate movements exert a positive & significant impact on the NER, while trade openness & output gap have a negative effect. In the short run, monetary policy variables show moderate significance, whereas the output gap exhibits a significant negative influence. Diagnostic tests confirm the robustness of the model. The findings highlight the importance of distinguishing between short-run and long-run dynamics and highlight the complex nature of monetary policy transmission (MPT) in shaping exchange rate behaviour in an emerging economy like India. Overall, the study provides an integrated assessment of monetary, external, and real-sector determinants of the nominal exchange rate, contributing to the literature by jointly analysing money supply, interest rate, trade openness, and output gap within a integrated framework and provide valuable insights for policymakers in designing appropriate monetary & exchange rate policies.
Socio-Economic Determinants of Access to Institutional Credit among Marginal and Small Farmers in Cachar District of Assam: An Econometric Analysis
Inadequate access to formal agricultural credit constrains rural financial obligations and reduces productivity among India's small and marginal farmers. This study explores the socio-economic status, population, and access to institutional credit and approval, using primary data collected from 300 households across five development blocks for small and marginal farmers in the Cachar district of Assam. Using econometric tools, we identify the factors that persuade credit supply to marginal and small farmers. The survey uses a binary logistic regression model to investigate the influence of selected socioeconomic characteristics on access to credit. The findings reveal that the education level of the household head has a consequential, positive, data-driven effect on the prospect of utilising institutional credit. In contrast, income, occupation, housing condition, and farmer type are not abundant determinants. The model illustrates an acceptable goodness-of-fit. The study culminates the primary roles of education and financial competence in strengthening rural financial inclusion and offers policy-relevant insights to strengthen the effectiveness of institutional credit delivery mechanisms.
U-Shaped Relationship Between Greenhouse Gas Emission and Financial Performance: The Role of Voluntary Environmental Management System
The growing importance of corporate sustainability has increased interest in understanding how environmental performance and policies influence firms' Corporate Financial Performance (CFP). Therefore, our study investigates the non-linear relationship between GHG emissions and CFP, while assessing the moderating effect of Environment Management System (EMS) adoption among A-listed Indian firms. Thus, drawing on the Natural Resource-Based View (NRBV), the study argues that environmental sustainability activities enhance firms' ability to achieve sustainable competitiveness by improving resource efficiency. Using the panel data from 2017 to 2022, the study employs Panel Quantile Fixed Effects Regression (PQR) to capture heterogeneous effects across CFP levels. The findings reveal a significant inverse U-shaped relationship between GHG emissions and CFP, indicating that while moderate emission levels initially enhance profitability through production expansion and economies of scale, excessive emissions reduce financial performance due to rising environmental costs and operational inefficiencies. The results further show that EMS adoption positively affects environmental and financial performance. Additionally, the negative interaction between EMS and GHG emissions demonstrates that EMS adoption decreases firms' dependence on emission-intensive production by achieving the highest level of CFP at lower GHG emissions. These findings suggest that firms adopting structured environmental management systems achieve profitability through resource-efficient operations rather than causing higher environmental impact. The study contributes to the sustainability literature by demonstrating that EMS adoption acts as an organizational strategy that reshapes the GHG-CFP relationship, offering important implications for managers and policymakers seeking to enhance both environmental and economic performance.