Prachi Kolamker

Although several studies on the integration of diverse stock markets have been conducted in the financial literature, most of them have focused on the integration and volatility spillovers across established stock markets. The present study explores the dynamics of integration and volatility spillover across gold, oil, forex, and stock markets during four significant events in India: the pre-changed government regime, the post-changed government regime, the post-Brexit referendum date, and the COVID era. Daily data from 2010 to 2022 is divided into four categories using the Chow test. This is done to examine if these events’ financial turmoil affects market interconnectivity. The unit root test determines data stationarity. The ARCH LM test examines series volatility clustering, and the BEKK GARCH test examines market volatility spillover. Results indicate that gold cannot be considered a hedge or safe haven. Secondly, market interconnectedness increased during the crisis period. Third, domestic political and geopolitical conditions globally do not increase the scale of spillover amongst financial assets, though they impact the spillover’s magnitude. The results of this study have several important implications for portfolio diversification and risk management.

Organizational agility is a prerequisite for ensuring enhanced corporate performance in the face of technological developments. However, the supplementary role of employee relations and empowerment practices in organizational agility has not been widely explored. FinTech introduction in the banking sector has added to its already dynamic work environment.
The study aimed to investigate the effect of Employee Relationship Management (ERM) on Organizational Agility (OA) & Employee Empowerment (EE), and Employee Empowerment on Organizational Agility, and evaluate whether EE has a mediating effect on the relationship between ERM and OA.
Structural Equation Modelling over the SmartPLS4 software was used for analysis. A structured questionnaire was distributed to 200 employees in back-office operations departments of the top four banks with the highest market capitalization on the National Stock Exchange, India. Employees from branches operating in metropolitan cities were selected.
Results underscore the human asset’s prominence in the banking sector’s sustenance, showing a significant positive direct effect of EE on OA (P value: 0.000, Path Coefficient: 0.627), ERM on OA (P value: 0.025, Path Coefficient: 0.718), and on EE (P value: 0.000, Path Coefficient: 0.718). EE also shows a mediating effect in the influence of ERM over OA (P value: 0.000, Path coefficient: 0.45).
The results bridge the gap in knowledge about the prominence of the Resource-Based Theory by investigating the role of employees in enhancing the banking sector’s ability to adjust operations in line with technological advancements.