Economics - Publications

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Browsing Economics - Publications by Author "Adil, Masudul Hasan"
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    Corporate environmental responsibility, motivational factors, and effectiveness: A case of Indian iron and steel industry
    ( 2020-05-01) Haider, Salman ; Adil, Masudul Hasan ; Mishra, Prajna Paramita
    This study provides an understanding of motivational factors that lead to the adoption of an environmental management system (EMS) from the perspective of resource-based view theory. Further, the role of EMS has been examined to reduce energy intensity by estimating the average treatment effect. Therefore, different logistic regression has been estimated to find out major motivational factors. Results from the logit model validate the role of firm's size, age, and ownership in motivating firms to adopt an EMS whereas regulatory pressure does not influence the firm's adoption of EMS. Furthermore, negative average treatment effect shows the effectiveness of certification in reducing energy intensity. The comparative analysis of sustainability report indicates that TATA Steel outperforms in terms of carbon emission intensity as compared with Steel Authority of Indian Limited, Jindal power and steel limited, JSW Steel, and average Indian firms. Nonetheless, top Indian steel companies are far behind the global best practices in terms of energy, water, emission, and effluent performance indicators.
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    Fisher effect: An empirical re-examination in case of India
    ( 2020-01-01) Adil, Masudul Hasan ; Danish, Shadab ; Bhat, Sajad Ahmad ; Kamaiah, Bandi
    This study examines the Fisher's hypothesis by utilizing the dataset on India's macroeconomic variables with the objective to check whether long-run empirical relationship between the nominal interest rate and inflation expectation exists. To this end, study is conducted on monthly data from Jan-1993 to Mar-2015 by utilizing the autoregressive distributed lag model or bounds testing approach developed by Pesaran, Shin, and Smith (2001). The bounds testing is applied to analyze the co-integration and short-and long-run relationship among variables, for a different combination of the Fisher hypothesis. The present study concludes the existence of a long-run relationship between Treasury bill and expected inflation (estimated by WPI), with a long-run coefficient equal to 0.54, implying partial Fisher effect. While the long-run relationship does not exist between Treasury bill and expected inflation (estimated by CPI). Similarly, long-run relationship although not of one to one in nature, between call money rate and expected inflation (estimated by WPI), is found with a coefficient equal to 0.51; but not for any another combination. The implication of the result shows that the market interest rate is a good indicator of inflationary expectations (i.e. WPI). And the conduct of monetary policy is responsible for favoring the partial Fisher's effect in India.