Ph.D Theses

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Acquisition and adoption of Digital Competency among Women Entrepreneurs in the Informal Sector
(Avinashilingam, 2025-07) Mary Treasa C P; Guide - Dr. P .Shanthi
Digital competency has emerged as a critical requirement for business development, sustained growth, and long-term competitiveness across sectors. The ability to navigate digital tools and platforms enhances operational efficiency, facilitates access to broader markets, strengthens customer engagement, and improves financial and administrative management. In this context, Digital skills serve as a vital indicator of an individual’s capacity to remain competitive, adapt to technological advancements, and leverage innovation for sustainable business outcomes. In the absence of adequate digital proficiency, many face the risk of exclusion from mainstream economic activities. The present study examines the influence of core antecedents, namely digital competency, performance expectancy, effort expectancy, social influence, and facilitating conditions, on behavioural intention, and how these factors contribute to the actual usage of technology in business operations. The study adopts the Unified Theory of Acceptance and Use of Technology (UTAUT) as its theoretical framework, which effectively captures the interplay between these constructs and their impact on technology adoption. The study is both descriptive and analytical. The locale of the study is Palakkad district in Kerala, India, which was purposively selected due to its prominence for largely informal micro-enterprises. Primary data were collected from a sample of 240 informal women entrepreneurs using a structured questionnaire, and the internal consistency of the instrument was confirmed with a Cronbach’s alpha value exceeding 0.70, indicating acceptable reliability. In addition, secondary sources such as government reports, published research articles, and institutional databases were utilized to complement and contextualize the findings. Targeted Digital competency intervention addresses the digital skill gap by systematically enhancing individual abilities in preparing training modules across key dimensions of digital competency and business applications for business operations. Moreover, technology adoption is closely linked to behavioural factors of technology adoption. Rank analysis was employed to identify the most significant challenges to technology adoption. To assess whether a significant mean difference existed in digital competency levels of women in the informal sector before and after the training intervention, the Wilcoxon Signed-Rank Test was applied. Additionally, the Kruskal-Wallis Test and the Mann-Whitney U Test were used to examine significant differences in digital competency across various socio-demographic and business profile variables of the respondents. The Structural Equation Modelling (SEM) was conducted to evaluate the influence of key antecedents of behavioural intention on the actual use of technology The result indicated that digital competency was found to be significantly influenced by performance expectancy, indicating that enhanced digital skills improve perceptions of technology’s usefulness in business operations. This perception of performance expectancy, in turn, had a strong positive impact on behavioural intention to adopt technology. Social influence also emerged as a significant predictor of behavioural intention, emphasising the role of peer support and community validation in shaping technology adoption decisions. Furthermore, both digital competency and behavioural intention significantly contributed to the actual use of technology in business, confirming their pivotal roles in the adoption process. Behavioural intention was also identified as a key mediator between social influence and actual technology usage. On the other hand, Digital competency did not influence effort expectancy, suggesting that users still perceive new technologies as requiring effort despite increased digital proficiency. Effort expectancy and facilitating conditions did not significantly affect behavioural intention, indicating that ease of use and external support were less influential in determining intent to adopt technology. The sustained technology adoption is more closely tied to internal factors such as digital competency and perceived performance benefits than to structural or external enablers alone. Keywords: Women Entrepreneurs, Technology Adoption, Digital Competency, Behavioural Intention, Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, Actual Usage.
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
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.
Empowerment of Tribals through Financial Inclusion
(Avinashilingam, 2024-09) Esther Jansi M; Guide - Dr. G. Santhiyavalli
Financial inclusion has emerged as a significant element in fostering economic growth and reducing the level of poverty, particularly among marginalized communities. For tribal populations in India, financial inclusion remains a significant challenge due to historical exclusion, geographic isolation, and limited access to financial services. The Nilgiri district, situated in the Western Ghats, is home to several indigenous tribal groups who have faced persistent socio- economic disadvantages despite various policy interventions. In recent years, there have been concerted efforts by both government and non- governmental organizations to improve financial inclusion in India. Initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY) and various financial inclusion programs aim to extend financial services to underserved populations, including tribal communities. However, the effectiveness of these programs in enhancing financial empowerment among the tribal groups in the Nilgiri district remains underexplored.The Nilgiris district is characterized by its unsique geographic and cultural landscape, which includes a diverse mix of tribal groups with distinct traditions and economic practices. The six primitive tribal groups selected for the study include Toda, Paniya, korumba, Kota, Kattunayakan, Irular.This study represents a broad spectrum of indigenous cultures and economic status, making the Nilgiris district a relevant and significant area for this research. The diversity within these groups provides a rich context for examining the various dimensions of empowerment and identifying specific needs and challenges A multistage sampling technique was employed to ensure a representative sample of 420 respondents from the six tribal groups. This approach involved selecting tribal groups from different regions of the district and then conveniently choosing participants within each group. The study used a combination of descriptive statistics to outline demographic and socioeconomic profiles, mean score analysis to evaluate average empowerment levels, ANOVA and T-tests to detect significant differences between groups, and multiple regression analysis to explore the relationships between various factors and determining empowerment outcomes. This study provides a detailed examination of financial, social, and economic empowerment among tribal communities in the Nilgiris district. The results indicate that these communities face significant challenges in achieving financial empowerment, with low levels of access to financial resources, limited economic opportunities, and restricted social inclusion. The findings emphasize the need for targeted interventions to address these challenges and improve the overall well-being of tribal populations. By implementing the recommended policies and programs, stakeholders can contribute to enhancing economic, financial and social empowerment, ultimately supporting the sustainable development and prosperity of these Ethnic minorites. Keywords : Empowerment, Financial inclusion, Banking operations, Sustainable development Tribal community
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.
Impact of Financial Literacy and Pradhan Mantri Jan Dhan Yojna Awareness on Financial Inclusion of Attappady Scheduled Tribes in Kerala
(Avinashilingam, 2025-05) Reshma K; Guide - Dr. K. Kanniammal
Financial inclusion guarantees timely and cost-effective access to financial services like credit, insurance, savings, and remittances for all people and businesses, particularly those in disadvantaged and vulnerable groups. By encouraging fair financial access, it creates a more robust and inclusive economy. Financial inclusion is closely related to financial literacy, which gives people the information and abilities they need to properly manage their finances, including debt management, investing, saving, and budgeting. The Pradhan Mantri Jan Dhan Yojana (PMJDY) was introduced by the Indian government in recognition of this interdependence in order to encourage financial inclusion, especially for the unbanked people. The programme prioritises financial literacy in addition to account opening by providing support services and awareness efforts to help people comprehend and utilise banking products. Scheduled Tribes stand out among the vulnerable groups because of their socioeconomic marginalisation and historical disadvantage. Their inclusion in the financial system promotes sustainable livelihoods, increases economic participation, and advances inclusive national development. As per SECC Report 2011, the most unprivileged category is the Scheduled tribes of Palakkad district in Kerala. Hence, this study analysed the level of financial inclusion, financial literacy, and PMJDY awareness among the three tribal groups of Attappady, such as Irula, Muduga, and Kurumba. Using stratified random sampling, 462 respondents were selected to fetch the primary data. The results showed significant disparities in financial inclusion between the three groups, as well as low levels of financial literacy and PMJDY knowledge. In response, the researcher imparted awareness programmes customised for each tribal community by adopting points from the NCFE financial literacy module. With the help of tribal promoters, the researcher, who had previously received NCFE training, acted as the trainer. The three tribal group’s members were able to improve in terms of financial literacy and knowledge on PMJDY during post-awareness period. While considering the impact of the awareness programme in terms of financial inclusion, Irula and Muduga were able to show a highly positive impact. The Kurumba exhibited little improvement, indicating their unique socio-cultural hurdles and the need for more focused, culturally aware, and long-term interventions, especially for Kurumbas.
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.
Sustainability and outreach of non-banking financial company - microfinance institutions (nbfc-mfis) in promoting Women micro entrepreneurs
(Avinashilingam, 2025-07) Malarchitra K R; Guide - Sasirekha P
Microfinance Institutions in India are established by providing an array of financial services to support the people from underprivileged categories. MFIs are an inventive development strategy to eradicate poverty through financial inclusion. Among various MFIs, Non-Banking Financial Company–Microfinance Institutions (NBFC-MFIs) are catered to address the economic exclusion by offering prompt and sufficient funding for entrepreneurial activities and plays a major role in empowering women micro entrepreneurs. The primary aim of the study was to examine the impact of various factors that influence the sustainability and outreach of NBFC-MFIs. The study was descriptive and analytical in nature. The required data were collected through a well-structured interview schedule from the women micro entrepreneurs and a questionnaire was used to collect data from thirty NBFC-MFIs anagers. Secondary data were collected from the MFIN reports, RBI bulletins, journals and magazines. The study focused on 386 women micro entrepreneurs who borrowed funds from MFIN- registered NBFC-MFIs in Coimbatore district by adopting a proportionate stratified random sampling technique. The study applied various statistical tools, namely descriptive statistics,ANOVA, Kendall's rank correlation, factor analysis, ratio analysis, growth rate analysis, and path model. The findings indicate that borrower awareness, usage of borrowed funds, business, social and financial status have a major effect on NBFC-MFIs sustainability and outreach. Outreach has been directly affected by the business development and institutional sustainability, while the utilization of borrowed funds significantly supports business expansion. Even though the fact that the women entrepreneurs’ social standing has little bearing on sustainability, the business empowerment of the borrowers has impacted the long-term institutional growth. The outreach and sustainability operate closely together and are associated with repayment ability, trust and financial viability.The study concluded that the sustainability and outreach of NBFC-MFIs have a far-reaching impact beyond their immediate financial services. By providing consistent and reliable financial support to the underserved community, it significantly contributes to the broader economic ecosystem by enhancing productivity, stimulating local markets and promoting economic growth. Therefore, the NBFC-MFIs are not only uplifting women entrepreneurs but also acting as a catalyst for sustainable and inclusive economic development.Keywords : NBFC-MFIs, Microfinance, Sustainability, Outreach, Women, Entrepreneurs.
Work Life Balance Work Satisfaction and Work Performance of Women Commercial Drivers from Road Transport Sector
(Avinashilingam, 2024-12) Banumathi R C; Guide -Dr. D. Vennila
Work-life balance is essential for achieving work satisfaction and maintaining optimal work performance, particularly for women who manage both professional and personal responsibilities. A well-balanced life reduces stress, enhances productivity, and fosters a positive outlook towards work. Women in fields such as police, medicine, construction, IT, and even the driving sector where their presence has significantly grown over the past decade, face unique challenges but continue to make strides in managing work-life balance. Family and customer support play a vital role in this journey. Family support provides emotional stability and helps women manage household responsibilities alongside their careers. On the other hand, customer support in professions like commercial driving fosters a positive work environment, encouraging women to stay motivated and excel in their roles. Together, these forms of support enable women to achieve better work satisfaction, sustain high work performance, and contribute meaningfully to their chosen field. The study aims to identify the motivational factors influencing women to choose commercial driving and examine the relationships between work-life balance, work satisfaction, and work performance while also investigating the role of customer and family support in shaping these relationships. Additionally, the study aims to analyze the unique challenges faced by women in this profession. Adopting a descriptive methodology, data were gathered from 213 self-employed women commercial drivers in Coimbatore district operating three- and four-wheelers through structured interviews and surveys. The study was conducted during 2022-2024. A mixed-method approach, supported by statistical tools such as Correlation, Multiple Regression Analysis, Path Analysis, Moderation Analysis using Smart PLS, Factor Analysis, and MANOVA, and the results provided a comprehensive understanding of their experiences. The study's findings reveal that women are primarily motivated by better income opportunities, driving as passion, and work flexibility. A positive correlation was established between work-life balance, work satisfaction, and work performance. Women commercial drivers face significant challenges, viz., workplace issues, family and financial issues, work nature issues, personal stress, and customer nuisance. Conflicts with male colleagues further add to their struggles, emphasizing the need for better support and improved conditions. Family and customer support played a moderating role in the relationship between work-life balance, work satisfaction, and work performance. Aligned with Social Exchange Theory, supportive relationships reduce stress, foster motivation, and improve outcomes for women drivers. These insights underscore the importance of equitable compensation and robust support systems to enhance outcomes for women in this field, that promote inclusivity and sustainability within the transportation sector. Keywords: Work-life balance, Work satisfaction, Work performance, Social Exchange Theory, Customer support, Family support, Women commercial drivers, Road Transportation sector

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