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Papers by Rajesh Elangovan

Research paper thumbnail of Relationship between return on assets and firm value: institutional holdings and firm size as moderators

Research paper thumbnail of The COVID-19 impact on employee performance and satisfaction: a moderated moderated-mediation conditional model of job crafting and employee engagement

Human Resource Development International

Research paper thumbnail of Risk capacity and investment priority as moderators in the relationship between big-five personality factors and investment behavior: a conditional moderated moderated-mediation model

Quality & Quantity

This paper aims to explore the relationship between big-five personality traits and investment be... more This paper aims to explore the relationship between big-five personality traits and investment behavior, particularly in the Indian context. Riding on the theory of planned behavior (TPB), we built a multi-layered moderated moderated-mediation model exploring the complex relationships between personality traits, investment attitude, and investment strategy. We collected data from 934 respondents from the southern part of India and analyzed using the Hayes (2018) PROCESS macros to test the hypotheses. The results indicate that (i) Personality traits (extraversion, emotional stability, conscientiousness, agreeableness, and openness to experience) are positively related to investment attitude and investment strategy, (ii) Investment attitude is positively related to investment strategy, (iii) Risk capacity moderates the relationship between personality traits and investment attitude, and (iv) Investment priority (second moderator) moderates the moderated relationship between personality traits, risk capacity (first moderator), and investment strategy mediated through investment attitude. Finally, the implications for behavioral finance and practicing managers are discussed.

Research paper thumbnail of Knowledge management process, infrastructure, and system quality as resilient strategies to respond to COVID‐19 pandemic challenges: Evidence from higher educational institutions in India

Knowledge and Process Management

Research paper thumbnail of Month-of-the-Year Effect: Empirical Evidence from Indian Stock Market

Asia-Pacific Financial Markets, 2022

The present study aims to examine the existence of month-of-the-year effects in the Indian stock ... more The present study aims to examine the existence of month-of-the-year effects in the Indian stock market. For analysis, we selected the BSE Ltd and NSE broad market cap indices, namely S&P BSE 500 and NIFTY 500, which are a comprehensive representation of the Indian stock market. The time selected for this study is from April 1, 2011, to March 31, 2021 (i.e., ten years). The study used secondary data collected from the 'monthly open, high, low and closing prices of broad market indices of the Indian stock market through the official websites (www. bsein dia. com; and www. nsein dia. com). The study's findings indicate that the ADF and PP test confirms the presence of unit root of the return series of S&P BSE 500 and NIFTY 500 Indices. The results from the KPSS test confirm the stationarity of the return series of both Indices. The regression coefficients for March were negative and significant for both indices. These results suggest that the month-the-of-the-year effect is the 'March effect.' Keywords Calendar anomalies • Month-of-the-year effect • KPSS test • ARIMA and GARCH

Research paper thumbnail of Influence of Social Media on Consumers’ Brand Choice: A Moderated Mediation Model

International Journal of Business Excellence, 2021

Research paper thumbnail of Testing the market efficiency in Indian stock market: evidence from Bombay Stock Exchange broad market indices

Journal of Economics, Finance and Administrative Science, 2022

PurposeDespite volumes of research on the efficient market hypothesis (EMH) over the last six dec... more PurposeDespite volumes of research on the efficient market hypothesis (EMH) over the last six decades, the results are inconclusive as some studies supported the hypothesis, and some studies rejected it. The study aims to examine the market efficiency of the Indian stock market.Design/methodology/approachFor analysis, nine Bombay Stock Exchange (BSE) broad market indices were selected covering the study period from 01 January 2011 to 31 December 2020. The data collected for this study are daily open, high, low and closing prices of selected indices. The tools used in this study are: (1) unit root test to check the stationarity of time series, (2) descriptive statistics, (3) autocorrelation and (4) runs test.FindingsThe empirical findings of the study reveal that BSE broad market indices do not follow a random walk and Indian stock market is as weak-form inefficient.Research limitations/implicationsThe findings from this study provide several avenues for future research. One of the r...

Research paper thumbnail of Relationship between return on assets and firm value: institutional holdings and firm size as moderators

Research paper thumbnail of The COVID-19 impact on employee performance and satisfaction: a moderated moderated-mediation conditional model of job crafting and employee engagement

Human Resource Development International

Research paper thumbnail of Risk capacity and investment priority as moderators in the relationship between big-five personality factors and investment behavior: a conditional moderated moderated-mediation model

Quality & Quantity

This paper aims to explore the relationship between big-five personality traits and investment be... more This paper aims to explore the relationship between big-five personality traits and investment behavior, particularly in the Indian context. Riding on the theory of planned behavior (TPB), we built a multi-layered moderated moderated-mediation model exploring the complex relationships between personality traits, investment attitude, and investment strategy. We collected data from 934 respondents from the southern part of India and analyzed using the Hayes (2018) PROCESS macros to test the hypotheses. The results indicate that (i) Personality traits (extraversion, emotional stability, conscientiousness, agreeableness, and openness to experience) are positively related to investment attitude and investment strategy, (ii) Investment attitude is positively related to investment strategy, (iii) Risk capacity moderates the relationship between personality traits and investment attitude, and (iv) Investment priority (second moderator) moderates the moderated relationship between personality traits, risk capacity (first moderator), and investment strategy mediated through investment attitude. Finally, the implications for behavioral finance and practicing managers are discussed.

Research paper thumbnail of Knowledge management process, infrastructure, and system quality as resilient strategies to respond to COVID‐19 pandemic challenges: Evidence from higher educational institutions in India

Knowledge and Process Management

Research paper thumbnail of Month-of-the-Year Effect: Empirical Evidence from Indian Stock Market

Asia-Pacific Financial Markets, 2022

The present study aims to examine the existence of month-of-the-year effects in the Indian stock ... more The present study aims to examine the existence of month-of-the-year effects in the Indian stock market. For analysis, we selected the BSE Ltd and NSE broad market cap indices, namely S&P BSE 500 and NIFTY 500, which are a comprehensive representation of the Indian stock market. The time selected for this study is from April 1, 2011, to March 31, 2021 (i.e., ten years). The study used secondary data collected from the 'monthly open, high, low and closing prices of broad market indices of the Indian stock market through the official websites (www. bsein dia. com; and www. nsein dia. com). The study's findings indicate that the ADF and PP test confirms the presence of unit root of the return series of S&P BSE 500 and NIFTY 500 Indices. The results from the KPSS test confirm the stationarity of the return series of both Indices. The regression coefficients for March were negative and significant for both indices. These results suggest that the month-the-of-the-year effect is the 'March effect.' Keywords Calendar anomalies • Month-of-the-year effect • KPSS test • ARIMA and GARCH

Research paper thumbnail of Influence of Social Media on Consumers’ Brand Choice: A Moderated Mediation Model

International Journal of Business Excellence, 2021

Research paper thumbnail of Testing the market efficiency in Indian stock market: evidence from Bombay Stock Exchange broad market indices

Journal of Economics, Finance and Administrative Science, 2022

PurposeDespite volumes of research on the efficient market hypothesis (EMH) over the last six dec... more PurposeDespite volumes of research on the efficient market hypothesis (EMH) over the last six decades, the results are inconclusive as some studies supported the hypothesis, and some studies rejected it. The study aims to examine the market efficiency of the Indian stock market.Design/methodology/approachFor analysis, nine Bombay Stock Exchange (BSE) broad market indices were selected covering the study period from 01 January 2011 to 31 December 2020. The data collected for this study are daily open, high, low and closing prices of selected indices. The tools used in this study are: (1) unit root test to check the stationarity of time series, (2) descriptive statistics, (3) autocorrelation and (4) runs test.FindingsThe empirical findings of the study reveal that BSE broad market indices do not follow a random walk and Indian stock market is as weak-form inefficient.Research limitations/implicationsThe findings from this study provide several avenues for future research. One of the r...