Ph.D Theses

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Browsing Ph.D Theses by Subject "Commerce"

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    Assessment of Brand Loyalty Among Emerging High Networth Individuals on Luxury Segment of Cars
    (2024-10) Femina E P; Dr. P Santhi
    Developing and sustaining loyal customer is the most crucial strategy of the marketers to keep customers devoted to their brands and to keep the business growing and competitive. Organizations exercise extreme caution in regards to brand loyalty, it could serve as a barometer of brand relationship. The boom in country's wealthy class is evolving in terms of lifestyle associated symbolic consumption. Attracting this high- income category of customers and developing loyalty towards a brand is the most essential factor for the manufacturers of high-end luxury products, especially the cars. It is important to understand the influence of various hedonic and brand-related elements on brand loyalty of luxury cars among this high-income segment. The present study intend to analyse the effect of various factors of luxury cars namely Brand image, Brand experience, Perceived Value, Product differentiation and Brand positioning on brand loyalty, through the mediation effect of customer satisfaction and to examine the moderating effect of brand trust between customer satisfaction and loyalty, among a particular segment called Emerging High Networth Individuals.The study is both descriptive and analytical in nature. The locale of the study is Ernakulam district in the state of Kerala, India which is selected purposively as it is the luxury car hub of Kerala. The sample size of the study is 380 and the questionnaire used to collect the data, The rank analysis applied to identify the most preferred features of the luxury brand car. Chi-Square test is applied to find the significant association between select variables. Analysis of Variance and t test for testing the significant mean difference existed between select constructs and S tructural Equation Modelling (SEM) to test the influence of brand related attributes of luxury cars on brand loyalty of EHNI car owners with mediating effect of customer satisfaction and the moderating effect of brand trust on brand loyalty. The results indicated that a significant positive correlation exist between perceived value, brand image, brand experience and brand loyalty. But the effect of product differentiation and brand positioning on brand loyalty is not statistically significant. The study found a strong correlation between all brand related attributes and customer satisfaction; and there is a significant correlation exists between customer satisfaction and brand loyalty. The mediating effect of customer satisfaction between brand-related attributes and brand loyalty were analysed and the test results indicate that all the mediation effect in these paths is statistically significant. Brand Trust reinforces and strengthen the relationship between Customer satisfaction and attitudinal loyalty rather than behavioural loyalty. Even though hedonic aspects are significant in influencing brand loyalty towards luxury cars, marketers should also concentrate on the technical aspects and the quality of dealer service as it plays a momentous role in influencing brand loyalty through customer satisfaction. Keywords: Brand Image, Brand Experience, Perceived Value, Product Differentiation, Brand Positioning, Brand Loyalty, Attitudinal Loyalty, Behavioural Loyalty
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    Determinants of Trading Behaviour of Retail Investors In Derivative Market – A Multidimensional Approach
    (Avinashilingam, 2024-12) Mageswari S S; Dr. P. Sasirekha
    The derivative market is an essential component of the global financial system and provides opportunities for risk management, speculation, and portfolio diversification to investors. Retail investors play a crucial role in this market by enhancing liquidity and influencing market dynamics. The behaviour of the retail investor is influenced by a variety of factors: individual characteristics, market psychology, and the general economy. All these factors reveal the underlying motivations, tactics, and decisions of these investors in this dynamic financial world. Many studies have examined single-dimensional aspects of investor behaviour; however, these approaches often fail to capture the complexity of the decision-making process. Investor behaviour is inherently multifaceted, shaped by a diverse range of factors. Therefore, adopting a multidimensional approach is essential to gain a more accurate and comprehensive understanding of the influences driving investment decisions. This study aims to explore retail investors' preferences across various sectors and financial products, as well as their awareness of the derivative market and overall satisfaction. It incorporates a multidimensional analysis, examining factors such as attitude, personality traits, behavioural biases, financial literacy, and self-efficacy to understand their influence on the trading behaviour of retail investors in the derivative market. This descriptive study adopted census sampling techniques to collect data from 384 retail derivative investors in Coimbatore city. The analysis involved descriptive statistics, including percentages, means, and standard deviations, and inferential statistics, such as ANOVA, MANOVA, factor analysis, multiple regression analysis, and PLS-SEM, to analyse the collected data. The study reveals that retail investors perceive the derivative market as an attractive investment option due to its potential for hedging strategies and diverse financial products because of its features, such as flexibility and control, which attract a growing number of investors. Additionally, financial dimensions such as financial literacy and self-efficacy, act as moderating influences on investors' intentions to engage in derivative market trading. Investors with higher financial literacy and self-confidence are better positioned to understand the complexities of the derivative market, allowing them to make more informed and effective decisions. In the psychological dimension, factors such as personality traits, behavioural biases, and attitudes are associated with investor satisfaction, which, in turn, has a significant impact on trading behaviour (social dimension) in the derivative market. Together, these multidimensional factors play a crucial role in shaping the trading behaviour of retail investors. Understanding the factors that influence trading behaviour among retail investors in the derivative market is essential for market participants, regulators, and policymakers.
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    Impact of Capital Structure and Dividend Policy on Firm value of select Pharmaceutical companies in India
    (Avinashilingam, 2023-11) Yazhini B; Dr. D.Geetha
    The major objective of any organization is to attain the optimal capital structure and the proper dividend decision which enhances the firm value.It was always a challenge to make a proper decision and it is also a vital issue in corporate finance.Capital structure and dividend policy are the examples of financing and investment decisions that affect the level of funds available in the firm. So, this study is conducted, to examine the impact of capital structure and dividend policy on firm value of select Pharmaceutical Companies in India.This research study has selected 31 companies belonging to Pharmaceutical industry in India. It is categorized into three sections; Large Capital Companies, Mid Capital Companies and Small Capital Companies. These sample companies were selected on the basis of Average Market Capitalization and their enlistment in BSE. The Descriptive Statisitics, Correlation, Multiple Regression Analysis, Panel Data Regression Analysis, Compound Annual Growth Rate and Trend Analysis were the tools used to analyze the data from 2007 to 2021.This study also gives a theoretical contribution to the future researchers. From the research the analysis indicates confirmation of Pecking Order Theory and Trade off Theory in the case of capital structure and the Dividend Relevance Theory according to the dividend policy of select Pharmaceutical Companies in India This research study findings on implementation will enhance the financial strength and financial stability in Pharmaceutical Industry. This industry will contribute significantly to the economic development of India. Keywords : Capital Structure, Dividend Policy, Firm Value, Panel Data Regression and Pharmaceutical Companies in India.
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    Investment Behaviour of Government Employees in Kerala
    (Avinashilingam, 2023-11) Rathi KN; Dr. D. Geetha
    The Indian economy is growing rapidly, and wise investments are crucial for economic development. This study analyses the investment behaviour of government employees in Kerala, focusing on their intellectual and behavioural aspects. Previous studies have explored investment decision-making, risk tolerance, emotional intelligence, and behavioural biases. However, few studies have examined the relationship between investors' intelligence, personality, and investment behaviour. The study identifies a research gap in understanding investors' intelligence and personality traits concerning their investment behaviour. The major objectives of the study are to Investigate the impact of intelligence and personality on investment behaviour. the specific objectives are to study investment patterns, Investment Preferences and Investment Decision Making in relation to intelligence and personality, to analyse investment decision-making behaviour (rational and irrational) and examine demographic influences on investment behaviour. The study employed a descriptive and analytical research design, surveying 384 Grade II government employees in Kerala. Sample are selected using Proportionate Stratified Random Sampling Technique. For studying investment intelligence, here used Multiple intelligences based on the Multiple Intelligence theory of Howard Gardener and the study used Big Five Personality Traits to measure investor personality. Data were collected using s structured questionnaire and tools for data analysis are Descriptive statistics, ANOVA, t test, Multiple Regression, Canonical Correlation and Structural Equation Model. The study found that Investors’ Intelligence and Personality; especially Multiple intelligence and big five personality traits influence investment behaviour. As studied Investment Decision making of Government Employees, Irrational behaviour is slightly more prevalent than rational behaviour. Bank deposits, insurance, and chit funds are favoured investment avenues and Safety, return, liquidity, and marketability are primary factors influencing Investment Behaviour.The study proposes a conceptual framework incorporating cognitive and behavioural aspects to explain investment behaviour. The findings suggest that government employees exhibit both rational and irrational behaviour, influenced by intelligence, personality, and demographic factors. Applying these findings can enhance wise investments, contributing to financial stability and national economic growth. Financial advisors should consider clients' psychological aspects when offering advice. Future research should explore other demographic segments and investment avenues.Theoretical Implications of the study include: Cognitive abilities and personality traits significantly impact investment decisions; Multiple intelligences and Big Five personality traits influence both rational and irrational decision-making; Behavioural biases, such as representative bias and overconfidence, prominently affect investment choices among investors.Practical Implications: Employer-sponsored programs and financial literacy initiatives can enhance employees' financial well-being; Financial planning should be personalized, considering individual cognitive strengths, personality traits, and biases; Investment products can be tailored to cater to diverse risk perceptions and investor profiles. This study's focus on salaried investors warrants exploration of non-salaried investors, institutions, and mutual fund managers. Future research can incorporate additional variables (e.g., economic conditions, financial literacy) and investigate individual intelligences. Longitudinal studies and cross-country comparisons of investment behaviour and economic influences are also recommended. Key words: Investment behaviour, Multiple intelligence, Big five personality traits, Investment pattern, investment preferences, Rational investment decision making, Irrational investment decision making, Behavioural biases, Prudence.