Prashant Sharma
@iihmr.edu.in
Associate Professor, Finance
IIHMR University, Jaipur
Dr. Prashant Sharma is Associate Professor (Finance) at IIHMR University. Prior joining to IIHMR University, he was associated with Jaipuria Institute of Management Jaipur as Assistant Professor (Finance) & Program Director of (PGDM & FPM) and National Institute of Financial Management (An institute of Ministry of Finance, Government of India) as fulltime research fellow. At NIFM, he was part of the study team which conducted a research on “Unaccounted Income and Wealth in India and Abroad” popularly known as Black Money Project, sponsored by CBDT, Ministry of Finance, Government of India. With more than 9 years of teaching and research experience, Dr. Sharma is the Fellow of National Institute of Financial Management, Faridabad. He has completed Post Graduation in 2010 in the field of Finance and Marketing Management from School of Management, Gautam Buddha University Greater Noida and graduation in 2008 in field of Mathematics from Dr. B R Ambedkar University Agra. He is a keen resea
EDUCATION
FPM from National Institute of Financial Management, Faridabad
RESEARCH INTERESTS
Asset Pricing, Price Discovery, Corporate Finance, Mobile Payments
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
Vinay Khandelwal, Prasoon Tripathi, Varun Chotia, Mohit Srivastava, Prashant Sharma, and Sushil Kalyani
MDPI AG
An agency problem is defined as a conflict of interest arising due to a misalignment of interests among the managers and other stakeholders of the company. This article aims to review the articles addressing the agency problem and their impact on business performance. This article reviews the contributions of prominent theorists on agency problems and agency costs. Using bibliometric attributes of 740 articles from the Scopus database, this study highlights the publishing trend and outlets, along with leading contributors and collaborators in terms of authors, institutions, and countries. This study identifies the clusters through the bibliographic coupling technique and a trend topics analysis. Most researchers have focused on corporate governance and expressed the agency problem as one of the impact areas. This study is unique as no study to date specifically focuses solely on agency theory or the agency problem through the lens of bibliometric analysis. Future research directions on agency problems and their solutions conclude this study.
Prashant Sharma, Gaurav Agrawal, Geetika Arora, Dinesh Kumar Sharma, and Varun Chotia
MDPI AG
The futures contracts were introduced to act as hedging instruments and ensure the price discovery (referred to as PD hereafter) mechanism for the underlying securities. If the price movement of a futures contract leads the price movement of the underlying securities in the spot market, this confirms the existence of price discovery in the market. This study undertakes an in-depth analysis of past research in order to find research trends and directions for the future in the field of price discovery. The bibliometric analysis technique is used to analyse the existing literature. The study considers the 1431 documents collected from the Scopus database for the period of 1982–2021 to conduct the descriptive and network analysis of search results. The study identifies three key clusters, i.e., the foundation of the price discovery process (Cluster 1), the econometric tools and techniques to assess the price discovery process (Cluster 2), and price discovery under different market conditions and constraints (Cluster 3). After an in-depth content analysis of these clusters, the study provides suggestions for future research in the field of price discovery. The study is the first of its type to conduct an in-depth analysis of the literature of price discovery since inception, and provides directions for future research in the field.
Prashant Sharma and Saurabh Sharma
SAGE Publications
Mobile payment has evolved over time and its adoption and usage have proliferated in the new normal subsequent to the COVID-19 pandemic. This study aims to (1) evaluate the performance and (2) map the body of knowledge in order to (3) chart the avenues to advance mobile payment research in the new normal. To achieve its aims, this study adopts and implements a bibliometric methodology on a corpus of 455 publications retrieved from the Web of Science to provide a retrospective and a prospective of mobile payment research. Using performance analysis, this study unpacks the productivity and impact of the contributors (i.e., journals, articles, authors, countries, and institutions) to mobile payment research. Using science mapping, this study reveals the foundational themes and topical trajectories in the extant literature dedicated to mobile payment research. The findings from the performance analysis and science mapping are subsequently used to inform the agenda for future research on mobile payment.
Vinay Khandelwal, Prashant Sharma, and Varun Chotia
MDPI AG
Disclosing information on environmental, social, and governance (ESG) parameters is voluntary for most firms across the world. Companies disclose their performance on ESG datapoints due to two main reasons—(i) to gain the trust of stakeholders through increased transparency and (ii) to comply with regulations imposed by governments and investment houses. Using a dataset of companies disclosing ESG parameters during 2014–2021 from the S&P BSE 500 index, this study investigates the role of ESG disclosure on firm performance. We divide the constituent securities into three factors—size, value, and disclosure to study the premiums generated by firms on each factor using single-, double-, and triple-sorting approaches. We utilize time series regressions along with GRS tests to empirically test the presence of factor premiums. We find the significant role of factors size, value, disclosure, and a dummy variable for the COVID-19 pandemic period to explain the portfolio returns. The study found a negative ESG disclosure premium stating that firms with high levels of disclosure earn less returns compared with the firms with less disclosures. The findings of this study contrast with multiple studies in the past that have found a positive disclosure premium. Our findings help reconcile the mixed evidence on the disclosure–returns relationship.
Hanna Olasiuk, Sanjeev Kumar, Prashant Sharma, and Tetiana Ganushchak
SAGE Publications
The purpose of this study is to investigate the impact of the COVID-19 epidemic on Indian information technology enterprises using data from the 10 largest IT firms listed on the Nifty IT index. Data were sourced from the PROWESS IQ database for 2017–2022. Input-oriented data envelopment analysis (DEA) using CCR and BCC models was applied by taking gross revenue as an output and labour, costs of fuel, materials, power, administrative and general costs as input variables. The study finds a positive although not statistically significant difference in the efficiency of Nifty IT companies during COVID-19 compared to pre-pandemic levels. Additionally, firms experienced higher scale efficiency compared to production efficiency growth throughout 2020–2022. Around 70% of Nifty IT firms faced a decreased efficiency in input utilization during the COVID-19 outbreak. Further, 50% of Nifty IT firms operated under increasing returns to scale and required expansion of business in 2021–2022. The dimensions of returns to scale exhibited stability in the long run. Companies with increasing returns to scale had a 7% lower average technical efficiency than firms with decreasing returns to scale. Large firms demonstrated better scale efficiency. The results of the study can be used by managers to increase the efficiency of firms.
Prashant Sharma, Dinesh Kumar Sharma, and Prashant Gupta
Emerald
Purpose Option pricing theory enables computation of the price of an option using different variables associated with the underlying security and options contract. The purpose of this study is to assess research trends that emerged in the field of option pricing. This study reviews existing literature of the option pricing domain, both qualitatively and quantitatively, and identifies potential themes for future research. Design/methodology/approach This study adopts bibliometric analysis method to explore literature published in the option pricing domain. As part of bibliometric analysis, this study considers both descriptive and network analysis to assess publication trends. For descriptive analysis, the “bibliometrix” package proposed by Aria and Cuccurullo (2017) is used and for network analysis, VOS viewer (Van Eck and Waltman, 2017) and Gephi (Bastian et al., 2009) are used. Findings This study identifies research trends, top researchers, articles, journals and contributions from institutions and countries in the option pricing domain. It identifies four clusters that show different directions and also focuses on past studies on the same subject. It explores research gaps by performing an in-depth analysis of existing literature on option pricing and suggests the way forward for research in this area. Originality/value To the best of the authors’ knowledge, no previous studies have attempted to analyze the literature published in the option pricing domain. This study fulfils this research gap by conducting a comprehensive analysis of studies in the option pricing area. This study identifies quality research work published in the domain, research trends, contribution by most relevant researchers, contributions across geographies and institutions and the connections among these aspects. This study also identifies important themes and provides directions for future research.
Prashant Sharma and Surender Kumar
LLC CPC Business Perspectives
With the outbreak of COVID-19, the Chinese government implemented the “zero-COVID” policy as a measure to curb the spread of the virus. The different measures of the policy include widespread testing, contact tracing, and strict quarantine and isolation protocols. In view of recent changes in COVID-19 trends and other economic indicators, the Chinese government withdrew significant provisions of the zero-COVID policy in China. The present study investigates the sectoral performance of the Chinese stock market after the withdrawal of the zero-COVID policy. The study considers eighteen sectoral indices of the Shenzhen Stock Exchange of China as a sample and applies the event study methodology to study the impact of the policy withdrawal on the stock prices performance. The results of the study indicate that sectors such as hotel, consumer staples, the financial sector, real estate, media, and culture have reported significant positive movement after the withdrawal of the zero-COVID policy, while other sectors such as consumer discretionary, energy, healthcare, information technology, manufacturing, mining, technology, telecom, transportation, utilities, wholesale, and retail have shown insignificant reactions. These results also indicate that when the COVID-19 outbreak happened in China, different sectors of the economy reacted negatively except the retail and wholesale sectors, while with the withdrawal of the zero-COVID policy by the Chinese government, the reaction of investors is optimistic as different sectors are reporting either positive reactions in the stock price movement or no reaction.
Saurabh Sharma, Yanxia Cheng, and Prashant Sharma
Informa UK Limited
Prashant Sharma
Springer Nature Singapore
Atul Choudhary, Sanjeev Bansal, Anu Prashaant, and Prashant Sharma
Inderscience Publishers
Prashant Sharma, Shikha Mehra, and Pankaj Gupta
WORLD SCIENTIFIC
Yanxia Cheng, Saurabh Sharma, Prashant Sharma, and KMMCB Kulathunga
MDPI AG
The aim of this study was to empirically examine the extended unified theory of acceptance and use of technology 2 (UTAUT2) model by adding “personalization” as one of the antecedents, as well as a moderator to determine the key factors for the continuous use intention of mobile news applications (apps). For this study, an online and manual sample survey of 309 respondents, who had used the news app earlier, was collected and analyzed, using quantitative methods such as explanatory and confirmatory factor analysis, structural equation modeling, and Hayes process for finding moderating effects among variables. The findings of the direct effect demonstrated that performance expectancy (PE) has the most influential effect on continuous use intention, followed by habit (HT), hedonic motivation (HM), and facilitating conditions (FC). Furthermore, the outcome of tests for the moderating effect of personalization between UTAUT2 constructs and continuous use intention (CUI) showed that personalization has a significant moderating effect on performance expectancy and habit. Therefore, this research establishes the key role of PE, HT, HM, and FC as main factors that trigger the users’ continuous use intention of news apps and provides an integrated framework to assess the moderating effect of personalization on technology acceptance. The findings of the research expand the existing literature on news applications and provide foundation for future research studies in the area of mobile news apps.
The study aims to empirically analyze the relationship between Taxes and Offshore Deposits. A major issue in the present-day economic world has been the use of tax havens or formally called ‘Offshore Deposits’ by wealthy individuals and companies to evade tax. The prospect of the following study is to analyze what factors really lead to these deposits and whether reducing top income tax rate would be an effective mean to combat these tax evasions. In this paper, it is argued that in fact, tax rates alone are not a reason and when various countries divided in groups lead so several other significant determinants of tax evasion.