This study investigates how green finance (GF) and environmental taxes (ERT) provide synergistic impact in reducing consumption-based carbon emissions (CBE) in 17 developed economies over a period from 1995 to 2024 when concerns for environmental sustainability are being accorded highest priority across the globe. The choice of CBE is more scientific, which is a comprehensive metric for measuring global environmental deterioration vis-a-vis production-based measures. Based on established underlying theoretical framework, the study employs two-way fixed effects with Driscoll-Kraay standard errors, system GMM, and method-of-moments quantile regression to address concerns for cross-sectional dependence, heterogeneity, and endogeneity. The empirical findings reveal that both GF and ERT help in CBE mitigation, while their interaction effect offers significant synergistic effects as GF relaxes capital constraints, enables entities to effectively respond to ERT levies and achieve real emission reductions rather than offshoring them. The interaction gets strengthened through renewable energy consumption and embodied carbon trade channels. The results are uniform and robust under various model specifications, levels of CBE, and choice of econometric techniques. The novel findings on GF-ERT synergy enhance the existing knowledge and offers actionable policy insights for formulating integrated environment control regulations for achieving environmental sustainability.
Energy exchange-traded funds (ETFs) have emerged as significant financial instruments in shaping the global energy transition, guided by the Principles of Responsible Investment. This study integrates the findings from the extant literature on energy ETFs using bibliometric (BA), cartographic (CA) and reflexive thematic analysis (RTA) to identify research gaps, synthesize core topics, and conceptualize energy ETFs as drivers of the Sustainable Development Goals (SDGs). We reviewed 131 papers retrieved from the Web of Science database, published between 2014 and 2024, using R Biblioshiny and VOSviewer. BA reveals remarkable growth in academic output since 2017, predominantly from the USA and other developed countries (59 articles), with Energy Economics as the leading journal (13 articles, 580 citations). CA identifies five prevailing research themes that have shaped the discourse: the connection between energy ETFs and commodity markets, the impact of shocks and spillovers, applications in portfolio management, the adoption of diverse research methodologies, and the alignment of energy ETFs with the sustainability agenda. The RTA develops a forward-looking conceptual framework and three testable research propositions anchored in stakeholder, institutional, and socio-technical transition theories, that link the drivers shaping the growth of energy ETFs with the underlying opportunities and their catalytic roles in achieving SDGs. The findings suggest that energy ETFs are a tool for fund managers and asset management companies to achieve portfolio diversification and gain exposure to volatile energy markets at a low cost. Policymakers can use energy ETF data to enhance tracking efficiency and gauge volatility, which are necessary for robust and efficient market performance. This study advocates that energy ETFs offer a critical impetus for responsible investing practices to meet evolving preferences and stimulate investments in sustainable finance.
Access to modern energy remains a critical development challenge across Sub-Saharan Africa, where disparities in electricity availability and clean fuel usage continue to impede progress toward achieving the Sustainable Development Goals. This study investigates the impact of various supply- and demand-side factors on access to electricity (AEL) and access to clean fuels (ACF) across 30 SSA countries over the period from 1995 to 2022. In particular, the study explores the moderating role of institutional quality (IQ) in shaping the effectiveness of green finance (GF). The empirical strategy is preceded by a comprehensive diagnostic process, including tests for cross-sectional dependence, slope heterogeneity, panel unit roots, and cointegration. The results indicate that GF has a consistently positive impact on AEL but a negative effect on ACF at several quantiles, which turns positive in the presence of strong IQ, highlighting a governance-moderated relationship. Government spending and foreign direct investment show a significant positive effect on both dimensions of energy access. Among demand-side variables, economic growth and urbanization positively influence energy access, while industrialization shows a negative association with AEL but a positive impact on ACF. The study outlines key policy implications based on the empirical findings.
Nanotechnology introduces new opportunities in medicine through the development of metal-based nanoparticles. The present study focused on identifying Amanita manicata, first reported in central India, and confirmed by morphology and ITS barcoding. Silver nanoparticles (AgNPs) derived from mushroom extract were prepared through green synthesis, and their biological efficacy was tested against four pathogenic bacteria: S. typhi, S. aureus, E. coli, and B. cereus. Antibacterial activity resulting in a notable inhibition zone at a lower concentration. The AgNPs were characterized using a UV-spectrophotometer, FTIR, zeta potential, SEM, and TEM (lattice fringes width 0.234 nm). SEM elemental mapping also suggested the various elements that act as reducing and capping agents for AgNPs formation. These findings suggest that bioactive compounds entrapped inside AgNPs provide a viable and effective alternative with strong antibacterial activity, as supported by AgNPs-coated fabric SEM images. GC-MS analysis revealed 12 novel bioactive compounds, which were then used for virtual screening against the FtsZ protein. Bacterial cell division protein FtsZ is essential for the formation of the contractile Z-ring and is a promising drug target for addressing drug resistance. Molecular docking (MD) revealed a strong binding affinity of 9(11)-Dehydroergosteryl benzoate (-10.6 kcal/mol) and Ergost-5,8(14)-dien-3-ol (-8.6 kcal/mol) with FtsZ by strong intermolecular hydrogen bonds and hydrophobic interactions, as validated through MDS studies. Current findings provide first report of AgNPs synthesis using A. manicata and the effective antibacterial mechanisms with antibacterial cloth development, highlighting the originality of this wild-mushroom-based approach and its promises for wound healing patches and infection control.
This study aims to analyse the influence of firm-specific information (FSI) on herd behaviour in the Indian equity market, with a particular focus on asymmetrical herding and the role of liquidity on stock price crash risk. Drawing on data from the S P CNX NIFTY Index and 44 constituent stocks from 2008 to 2022, FSI is operationalized by return non-synchronicity, return skewness and information discreteness. Herding is captured through cross-sectional absolute deviation (CSAD) while stock price crash risk is modelled using the negative coefficient of skewness of returns. Using ordinary least squares regression with dummy variable interactions, the main finding reveals significant impact of return non-synchronicity on CSAD, indicating evidence of intentional–rational herding. The results are amplified for market asymmetries, with bear market conditions exhibiting an intentional–irrational herd pattern. Further, the study reveals positive impact of stock liquidity on price crash risk. This study is a refreshing departure from the traditional assumption of irrational herd behaviour in emerging equity markets and connects the FSI to both herding and price crash dynamics, offering new insights into herd dynamics in the Indian context. The findings bridge the gap between theoretical and empirical literature and provide valuable implications for researchers, investors, policymakers and market regulators to guide actions to enhance market efficiency and stability.
This study is anchored to assimilate the body of knowledge on herd behavior in financial markets to understand the evolution of the subject, focal concepts, and core areas researched in the past, as well as present the agenda for future research. The data involved carefully selecting 214 research articles published from 1994 to 2023 in journals indexed in the Web of Science (WoS) database using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework. The paper examines the evolution and growth of the subject. It performs thematic review of the top 100 most influential articles to identify six focal concepts and areas discussed in the past. The findings are synthesized into three primary themes to develop a comprehensive intellectual structure for the future. The results reveal that most studies examine equity market herding in developed countries. Additionally, theoretical and empirical studies are disconnected, resulting in a partial understanding of the determinants of herd behavior. Further, there is a dominance of empirical-based studies that are inadequate in explaining the complex herd behavior. This study makes significant academic contributions through thematic review by identifying the research gaps and developing a structured framework for future research agenda complemented with the proposed methodological approach that can be used as a reference for forthcoming research.
Snakebites are a severe medical and social issue, particularly in tropical and subtropical countries with minimal medical facilities, where the most dangerous snakes are found. Worldwide, most rural areas use medicinal plants alone or in combination as antidotes for snakebite treatment. Local knowledge of medicinal plants for snakebite treatment plays a more critical role in primary healthcare services in rural areas. As a result of this review, it is revealed that 39% of herbs, 38% of shrubs, 18% of trees, 2% of climbers, 2% of bulbs, and 1% of ferns have snake antivenom potential, which is indicative of the presence of numerous phytochemicals such as alkaloids, coumarins, curcuminoids, flavonoids, steroids, triterpenoids, and cinnamic acid in particular plants. According to the availability of information, the data focus on the plants, their families, and their parts from various literature sources. In the future, the valuable plants reported here and their phytoconstituents may be potential sources for developing effective natural drugs for snake bite treatments. Therefore, this review is a comprehensive study of the snake antivenom potential of various medicinal plants and their bioactive compounds.
Over the past three decades, India's transformative journey through globalization has boosted trade and technological advancements but has also raised concerns about balancing development with environmental sustainability, emphasizing the urgent need for stringent environmental regulations. In this context, this study investigates the impact of trade globalization (TG) and regulatory quality (RQ) on ecological footprints (EF) in India from 1990 to 2022. Additionally, economic growth (EG), urbanization (UB), and biocapacity (BC) are included as control variables to eliminate the possibility of omitted variable bias. The Autoregressive distributive lag (ARDL) and Quantile autoregressive distributed lag (QARDL) methodologies are employed to unravel this nexus. The study utilizes three different models for robust explorations of the impact of TG and RQ on EF. The findings are consistent across both the techniques for all these models, underscoring the validity of our results. Specifically, our findings reveal a significant inverse relationship between TG and EF (in the short-run) and between RQ and EF (in the short-run and long-run). This validates the pollution halo effect hypothesis (PHEH) in India in the short-run, suggesting that stringent regulations can promote ‘clean’ trade in the host nation. Additionally, the interaction effect of TG and UB on EF is statistically significant, highlighting the importance of integrating trade and environmental policies to foster green growth. Based on the findings, the study offers important policy implications.
The metaverse is a cutting-edge digital innovation with transformative potential in healthcare, offering enhanced training, remote consultations, and improved patient engagement. However, its adoption faces several critical limitations. This study investigates barriers to integrating the metaverse in healthcare within the Health 5.0 framework. Employing a mixed-method approach combining a Systematic literature review, Delphi, Total Interpretive Structural Modeling (TISM), and Cross-Impact Matrix Multiplication Applied to Classification (MICMAC) techniques, 10 key barriers were identified and examined for their interrelationships and classified based on their driving and dependence power. The findings map the structural hierarchy of these barriers, distinguishing high-driving from high-dependence factors. Results show that extensive capital requirements, mental health concerns, and ethical and legal challenges emerge as primary driving forces. Other significant linkages include a lack of digital strategy and management support, skill shortages, interoperability challenges, limited awareness, and inadequate technical infrastructure. Data privacy and security concerns, the digital divide, and accessibility appear as highly dependent barriers that require focused intervention. The research provides a structured framework to support policymakers, healthcare administrators, and technology developers in developing targeted strategies for the adoption of the metaverse in healthcare.
India has emerged world leader, with a substantial share of 80-85 %, in the natural production and overseas trading of mint oil and its derivatives. This has been possible because of the concerted efforts of CSIR-CIMAP that has revolutionized the mint cultivation in India through development of superior agro and processing technologies, superior plant varieties, and popularization through its routinely organized seminars, training programs, and exhibitions such as 'Kisan Mela' for farmers. Till date, 14 varieties of Mentha arvensis are available to farmers for commercial cultivation. The essential oil composition of all the commercial varieties of Japanese mint grown in India is well known but knowledge on the variation in herb and essential oil yield, as well as variation in relative proportion of the major constituents in the essential oil with crop age is completely lacking. To address these gaps, the present study was designed where estimates of phenotypic and genotypic variance (a2p and a2g), phenotypic and genotypic coefficients of variance (PCV and GCV), genetic advance (GA), broad sense heritability (h2bs) and genetic advance as percent of mean (GAM), correlations and path analysis studies were conducted to assess the variability and breeding potential in all of 14 commercially cultivated varieties. The results of the present study also helped in identifying and classifying the varieties as very early maturing (Var. Gomti in 70 days), early maturing (vars. Saksham, Kosi, CIM-Saryu, MAS-1, CIM-Kranti, Damroo, CIM-Unnati in 90 days), late maturing (vars. Himalaya, Kalka, Shivalik, Kushal, Sambhav).
Exploring the economic-environmental nexus is important for devising effective economic policies, particularly for small, resource-constrained emerging nations with evolving institutional quality (IQ). This study examines the impact of economic growth (EG), foreign direct investment (FDI), trade openness (TO), and IQ on CO2 emissions in Comoros from 1990 to 2022. The study employs the autoregressive distributed lag (ARDL) approach to ascertain the short-term and long-term effects. Further, dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS) regression approaches are used for robust interpretations. The study finds a long-run cointegration among the variables. The estimation further reveals that TO deteriorates, while FDI enhances, and the impact of EG on environmental quality is statistically insignificant. Contrary to our expectations, IQ worsens the environmental quality in the long run, reflecting weak environmental regulations. Based on these empirical results, the study concludes that the economic-environmental nexus results in environmental degradation in Comoros, advising regulators to reduce harmful trade and exercise rigorous control in implementing environmental regulations to achieve environmental sustainability.
Purpose This study aims to examine the evidence and magnitude of the sector-specific herding behaviour in the Indian equity market, focusing on the COVID-19 epoch. Design/methodology/approach This study uses high-frequency daily data of the 11 sector indices of the National Stock Exchange from January 2010 to December 2022. Cross-sectional absolute deviation and quantile regression estimation methods using dummy variables are used to capture herding in skewed time series distribution across a range of return quantiles and sub-periods corresponding to the COVID-19 epoch. The magnitude of beta herd strength and variation in intensity to decipher the impact of COVID-19 is examined. Findings The statistical results are significant at lower returns across the entire sample period, implying evidence of herding. Notably, pre-COVID-19 herding during high returns in stocks of Public Sector Banks and post-COVID-19 herding during low returns in the information technology (IT) stocks was observed. However, regression estimates were significant across all sectors during the phase of COVID-19, with the IT sectors exhibiting the maximum increase in beta herd strength. Research limitations/implications Robust statistical techniques of quantile regression and beta dispersion to decipher herd behaviour provide insights for practitioners to broaden the understanding of market efficiency for actionable responses. Furthermore, the findings emphasise regulatory monitoring to prevent speculative bubbles and advocate for targeted investor education programmes to mitigate panic-driven investment decisions. Originality/value This paper is a pioneer in providing an alternative understanding, in contrast to the traditional one, into the micro-level analysis of herding phenomenon from the lens of the COVID-19 epoch. The results are instrumental in broadening the understanding of the market dynamics in turbulent periods, highlighting the importance of informed investment decisions.
This study presents an integrated bibliometric and thematic mapping of the environmental, social, and governance (ESG)‐corporate social responsibility (CSR)‐financial performance literature by employing both quantitative and qualitative methods. It comprehensively reviews the existing literature by analyzing 322 articles extracted from the Web of Science database, spanning over 100 journals and the past 15 years, and performing statistical, scientometric, and thematic analyses. Unlike prior reviews, we combined VOSviewer‐based scientometric with a manual content analysis of the top 50 papers published in AJG‐ranked journals over the past 5 years to (1) identify intellectual clusters and their evolution, (2) surface methodological choices that drive contradictory results, and (3) develop prioritized, actionable research questions and policy recommendations for academicians, researchers, investors, and regulators. Key findings suggest a noticeable traction since 2015, indicated by a steady rise in the number of publications and citations since then. The top two most productive journals are CSR and Environmental Management and Business Strategy and the Environment (with 45 and 32 papers, respectively). The United States is the most productive country, and Shunsuke Managi is the most influential author. Additionally, content analysis reveals that financial performance and governance are the most prominent themes, while ESG investing and controversies are emerging areas of interest. This study also documents geographic and methodological imbalances that limit generalizability. The contribution of our study is threefold: an updated scientometric map, an in‐depth AJG‐based thematic synthesis, and a stakeholder‐oriented agenda that bridges descriptive mapping and practical guidance.
Purpose With the rise of stakeholders' activism, integrating sustainability into business practices has become increasingly crucial for businesses. For such stakeholders, recognition from global sustainability indexes such as Dow Jones Sustainability Indexes (DJSI) allows them to evaluate organizations based on sustainable integration. Further, it helps companies influence their investors' opinions and investment decisions. In this light, this study examines the stock market response to the inclusion and exclusion of Asian companies in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Index Emerging Markets (DJSI EM). Design/methodology/approach The study has employed the event study methodology to understand the intermediate and immediate abnormal reaction of the inclusion and exclusion event from the DJSI World and DJSI EM indexes from September 30, 2012, to November 30, 2023. Findings Findings show that changes in the DJSI indexes have asymmetric reactions in different markets. The reaction to changes in DJSI indexes is more pronounced for DJSI EM than DJSI World. Inclusion in DJSI World showed mixed reactions, while exclusion typically resulted in adverse reactions around the event day. Inclusion in DJSI EM generated a positive reaction, while exclusion had a mixed reaction. The study found no significant difference in the intermediate reaction of inclusion/exclusion between DJSI World and DJSI EM. Additionally, investors' immediate reactions from developing versus developed countries differed, but the reaction variation disappeared in the whole event window. Originality/value With a considerable increase in sustainable practices in Asia, companies must determine whether investors recognize and reward the company’s sustainability efforts. No other study has previously investigated the impact on Asian companies that are rapidly rising in global sustainability rankings. Furthermore, no study has examined the comparative reaction of inclusion or exclusion in two independent sustainability indices – DJSI WORLD and DJSI EM.
PurposeTechnology-driven health insurance products have significant applications for business firms and customers. With their growing popularity, these products can disrupt legacy insurance systems. Based on this notion, this study seeks to identify and validate the factors that affect customers' attitudes toward their buying intentions and readiness to pay for these products.Design/methodology/approachThis study extended the technology acceptance model with privacy, trust, purchase intention and willingness to pay to improve its predictive capability. The data were analyzed using the partial least square technique on a sample comprising 150 respondents.FindingsThe results indicated that all model variables except for privacy concerns were significant and influenced consumers' attitudes toward these technology-driven products. The authors also found a significant difference in the influence of trust on attitude when comparing the genders. A significant mediation between perceived ease of use and attitude was also established.Research limitations/implicationsThe empirical investigation in this study offers valuable insights for insurance companies to plan effective marketing strategies that help them disseminate information about the utility and user-friendly aspects of their products, thereby increasing positive attitudes and the plausibility of adoption. It is also advised that the companies tie up with reliable technology platforms. Pricing policies can be designed keeping in mind that the consumers are willing to pay even more to avail the benefits of the products.Originality/valueThe current study intends to fill the gaps in the existing literature by demystifying the purchase intention-willingness to pay relation regarding technology-based health insurance products in India.
Achieving clean energy goals in developing countries requires substantial international financial support. However, access to it is influenced by multiple factors, notably fiscal conditions and the quality of governance. This study investigates the impact of public debt, renewable energy consumption, and governance quality on international clean energy finance in 46 low- and middle-income countries between 2000 and 2021. Using panel data techniques, including fixed effects and instrumental variable generalized method of moments estimation, we assessed both the direct and interactive effects of these key variables. The analysis revealed that public debt hinders financial support, whereas renewable energy consumption and governance quality both enhance it. Moreover, the interaction between public debt and governance quality suggests that high debt diminishes the benefits of strong governance. These findings underscore the importance of aligning sound fiscal management with institutional reforms to support sustainable access to international finance for clean energy.
The investigations on interspecific hybrid basil were carried out in two distinct agro-climatic regions of India: Lucknow (Uttar Pradesh) and Rangareddy (Telangana). The experiment used an RCBD replicated thrice in each trial in each of the three seasons/environments: Jaid, Karief, and Rabi. The morphological and chemical changes of an interspecific basil hybrid/variety were studied across environments/seasons, and locations. All morphological traits and essential oil production are affected by the environment/seasons and location. The essential oil production and linalool concentration were found to be consistent. A high-quality linalool essential oil was discovered throughout the environment and locales. The biplot contrasted the test seasons/environments, as well as the researched locations and their interactions, visually. The ‘r' correlation between measured (M) and predicted (P) values was 0.998, and the predicted (P), means, and instability values (I) were all calculated using ATC coordinates. The ‘r' between GGE distance (GD) and entry means was also −0.952. This means that a higher absolute number indicates less stability, whereas a lower absolute value indicates a high level of stability. In summary, significant amounts of linalool-rich essential oil were obtained in the Northern Region (Lucknow) during the Jaid season (69.76 %) and the Southern Region (Hyderabad) during the Rabi season (69.88 %). This hybrid/variety's linalool content and essential oil yield averaged 190.78 kg/ha across seasons/environments and locations, with a linalool content of 67.91 %. Due to its high yield of top-notch linalool essential oil, the basil hybrid/variety that is particularly stable in terms of essential oil yield with high linalool content across seasons and places should be suggested for large-scale cultivation.