Editorial

Abstract

Dear Readers Let us learn how to lead a new normal life in this pandemic situation and so amidst such frightening second wave, I am happy to offer you issue 2 of volume 48 of our Journal Decision. We all are trying to overcome bottlenecks created during pandemic so that journal runs smoothly. In our endeavour to achieve this we are offering our readers with seven articles in this June issue. A brief note on the articles is given below. The First one by Rakesh Sahani on “Is Gold an effective hedge and/or safe haven instrument against stocks, rupee-dollar rate and crude: An Empirical Investigation from India” empirically investigates the hedging and safe haven characteristics of gold against stock markets, crude and foreign exchange for India for the period April 1, 2008–March 31, 2019. The result of the study shows that gold acts as a hedge asset against Nifty Stock Index and Exchange Rate but not against Crude. Sarafraz Javed in his article “Corporate CSR Practices and Corporate Performance: Managerial Implications for Sustainable development” uses survey-based questionnaire from the manufacturing sector of Oman. Their findings suggest that environmental management practices and social management practices positively impact economic performance and that social and environmental performance has mediating effects; this has a critical implications on the policies of manufacturing sector for sustainable development. The next article by Suman Das, titled as “Predicting Regime Switching in BRICS Currency Volatility: A Markov Switching Autoregressive Approach”, uses a univariate Markov regime switching model on daily data between April 2006 and March 2018 in BRICS foreign currency markets. In their article, it is found that Chinese Yuan is the least volatile across regimes among BRICS currencies. Such lower volatility in Chinese currency follows from higher intervention in the currency market by The People's Bank of China. These findings have implications for exchange rate policy interventions, volatility transmission in foreign exchange markets and asset portfolio choices of emerging market economies. The fourth article by Rajat Deb is a case study on YES Bank titled as “Yes Bank Fiasco: A Corporate Governance Failure”. This study looks into the financial turmoil of the Bank even with the presence of independent directors. The fifth Article deals with the Empirical Examination of Beta Anomaly in India, authored by Sarika Rakhyani. The observations indicate the presence of betting against beta (BAB) effect in the Indian context though it is very small in respect to the size effect. Size effect has come out to be the strongest with a difference of 2.7% per month between small and big stock returns. The next article implements a Target Capacity Utilization Rule recursive simulation model and uses historical data from 1987 through 2017 to forecast crude oil prices for 1991 through 2017. This one is written by Ramesh Bollapragada. Finally, the last article on “Meta-Study on the Relationship between Profitability and Liquidity of Enterprises in Macroeconomic and Institutional Environment” by Jacek Jaworski explores the relationship between profitability and financial liquidity of a company using meta-analysis. They diagnosed two statistically significant moderators of the strength and direction of the relationship between profitability and liquidity. Those are (1) private sector crediting and (2) capital market development. This knowledge can assist financial managers in making more efficient decisions related to liquidity and working capital management. Looking forward for an exciting Special September issue. Stay safe and healthy.