Nikunj Patel
@nirmauni.ac.in
Associate Professor
Institute of Mangement, Nirma University
Prof. Nikunj Patel has almost twenty years of standing in his academic career. His areas of teaching and research include Accounting, Financial Management, Investment and Portfolio Management, Behavioral Finance, High-Frequency trading, and International Finance. He has also acted as a resource person in several faculty development and management development programmes. He has been credited for research papers in journals of national and international repute. He taught a full course on Hospital Accounting to the special batch of doctors of Primary Health Centres and Civil Hospitals, sponsored by the Government of Gujarat. He has also completed a minor research project sponsored by Nirma University and a major project on the preparation of the District Human Development Report sponsored by GSIDS, Government of Gujarat. He was the MBA Program chair for the batch 2020-22. Currently, he is a hostel chief warden.
EDUCATION
Ph.D., MBA
RESEARCH INTERESTS
Financial Management, Investment and Portfolio Management, Market Efficiency, Risk Management, Environment Sustainability
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
Muhammad Shahbaz, Nikunj Patel, Anna Min Du, and Shabbir Ahmad
Elsevier BV
Muhammad Shahbaz and Nikunj Patel
Wiley
AbstractIn the face of mounting global concerns over climate change and its far‐reaching consequences, this research paper examines the effect of economic growth, natural resources, energy sources, trade, environment‐related technologies, energy intensity, and environmental tax on carbon dioxide (CO2) emissions. This study employs the Method of Moments Quantile Regression approach with data from 108 countries between 1990 and 2020. The empirical outcomes revealed a positive relationship between economic growth and CO2 emissions, following an inverted U‐shaped pattern known as the Environmental Kuznets Curve. Energy intensity and the use of fossil fuels both raise CO₂ emissions, whereas environmental taxes and the generation of renewable energy significantly reduce carbon emissions, especially at higher quantiles. Hence, implementing higher environmental tax levels and promoting cleaner energy sources mitigate pollution. Trade and the development of environment‐related technologies appear to contribute to mitigating CO2 emissions, yet their statistical significance remains inconclusive. The findings emphasize the importance of sustainable development strategies that balance economic growth with environmental protection. Policymakers should prioritize promoting renewable energy, improving energy efficiency, and reassessing environmental tax levels to align with climate change goals.
Dhyani Mehta, Nikunj Patel, Nisarg A. Joshi, and Bhavesh Patel
Inderscience Publishers
Nikunj Patel and Dhyani Mehta
Elsevier BV
Zhiyuan Li, Nikunj Patel, Jiayang Liu, and Pradeep Kautish
Elsevier BV
Nikunj Patel, Pradeep Kautish, and Muhammad Shahbaz
Wiley
AbstractTo achieve Sustainable Development Goals, countries face the challenge of expanding economic activities while mitigating pollution. Using the panel autoregressive distributed lag and panel non‐linear autoregressive distributed lag approach, this study investigates the effects of globalization, economic development, human development, industrialization, non‐renewable energy, and population density on the carbon emissions (CO2) of 64 countries. This study validates the Environmental Kuznets Curve hypothesis in upper‐ and lower‐middle‐income countries. However, low‐income countries exhibit a U‐shaped relationship, while high‐income countries have successfully mitigated CO2 emissions to some extent. The analysis shows bidirectional causality between CO2 emissions and other variables, except for one‐way causality from globalization to CO2 emissions. Manufacturing in upper‐ and lower‐middle‐income countries depends on conventional energy sources, indicating the need for policies to promote renewable energy sources. The findings have significant policy implications for enhancing environmental sustainability and achieving sustainable economic growth while mitigating CO2 emissions to achieve the SDGs.
S. R. Mitragotri and N. Patel
Financial University under the Government of the Russian Federation
Over the last five decades, business academics have identified over 300 determinants that potentially influence stock returns. However, we still do not know whether all return determinants are equally important, or whether there is a smaller set of determinants that has a disproportionately larger influence on stock returns. Can mining historical data help us find this smaller set of return determinants that has a disproportionately higher influence on stock returns? Using historical data from the Indian market, we build a large database of investments with more than 74,000 investments spread over a period of 132 months. From this database, using “association rule mining” method, we are able to mine a strong set of “association rules” that point to a smaller set of “return determinants” that are seen more frequently in investments that beat index returns. From a pool of thirty-seven return determinants, using “association rule mining”, we were able to find out a small set of key return determinants that are seen most frequently in investments that beat index returns in India. Portfolios created from these “association rules” have a portfolio risk lower than the market risk and provide index-beating returns. “Out-of-sample” portfolios created using these association rules have portfolio “Beta” less than one and provide returns that beat the market returns by a significant margin for all holding periods in the Indian market. Through this paper, we demonstrate how portfolio managers can mine “association rules” and build portfolios without any limits on the number of factors that can be included in the screening process.
Nikunj Patel, Yaswanth Karedla, Rohit Mishra, and Pradeep Kautish
Routledge
Renuka Kumawat and Nikunj Patel
SAGE Publications
Due to rising sustainability concerns across the globe, corporations are now offering voluntary environment, social, and governance (ESG) information to serve stakeholders’ interests. These voluntary ESG disclosures aid investors in making investment decisions by evaluating the firms’ sustainability. However, ESG reporting is still in its infancy and there are no regulatory standards; consequently, it is crucial to understanding the value relevance of ESG disclosures. Using panel corrected standard errors (PCSEs), the study investigates the impact of ESG disclosures on cost of capital. The sample of the study covers listed firms from NSE 500 from 2011 to 2020, that is, 10 years. The present analysis offers the value relevance of enhanced ESG disclosure in the form of reduced cost of capital through reduced information asymmetry. In this study, we employed voluntary disclosure theory and legitimacy theory to investigate disclosure level in emerging market. The study found a negative association between ESG disclosures and cost of capital, following the notion that non-financial disclosures reduce information asymmetry and ultimately cost of capital ( Chauhan & Kumar, 2018 ; Francis et al., 2008 ). However, individual E, S and G disclosure scores were not found significant.
Rohit Mishra, Rajesh Sharma, Yaswanth Karedla, and Nikunj Patel
SAGE Publications
The socio-economic environment of a country may significantly influence the size and working of the country’s financial markets in the long run. Keeping this in mind, this study aims to analyse the long-run and short-run impact of COVID-19 cases, deaths, stringency index, and vaccinations on the US stock market. Daily time series data ranging from 22 January 2020, to 30 April 2021, was considered in this study. The ARDL bounds test approach was employed to examine long-run and short-run relationships. Our statistical evidence suggests that, in the long run, confirmed cases and stringency have a negative and significant impact on stock markets, whereas vaccinations have a positive and significant effect on the stock markets. This indicates that any public health emergency adversely affects the stock markets, such as a pandemic outbreak. The government should ramp up the efforts towards vaccinating their citizens in the earliest possible timeline. Such actions of resurgence from the pandemic instil confidence in the market. Policymakers should be thoughtful about formulating contingency measures to effectively safeguard the population while preventing the deterioration in investor confidence.
Nikunj Patel and Bhavesh Patel
Inderscience Publishers
Financial integration plays a decisive role to the institutional investors for diversification of their investment portfolio(s). This research investigates the integration of selected stock markets (India, Australia, China, Spain, UK, and the USA) from different continents that are highly affected by COVID-19, employing the autoregressive distributed lag approach using daily data from 2 January 2011 to 7 May 2020. The outcomes show evidence of long and short-run integration among the markets. The rest of the markets are co-integrated with the markets of India, China, and UK. India has a long-run equilibrium with the USA and Spain, whereas China has a long-run association with Spain, and the UK has a long-run association with the USA. In short-run, India is positively influenced by the returns of rest of the markets, whereas all the markets under the study except USA influence China. Further, the UK's market is significantly inclined negatively by its own past innovations. © 2022 Inderscience Enterprises Ltd.. All rights reserved.
Yaswanth Karedla, Rohit Mishra, and Nikunj Patel
Emerald
PurposeThe purpose of this study is to examine the impact of economic growth, trade openness and manufacturing on CO2 emissions in India.Design/methodology/approachThe study employed autoregressive distributive lag (ARDL) bounds test approach and uses CO2 emissions, trade, manufacturing and GDP per capita to examine the relationship using an annual time series data from World Development Indicators during 1971 to 2016.FindingsResults depict that there exists a long-run relationship between CO2 emissions and other variables. Trade openness significantly reduces CO2 emissions, whereas manufacturing and GDP have a significant and positive impact on CO2 in the long run.Research limitations/implicationsThe findings of the study contribute to the body of knowledge by providing new evidence on the relationship between developmental metrics and the environment. These findings are critical for policymakers and regulatory bodies to focus on economic development without jeopardizing environmental degradation.Practical implicationsIn order to keep its commitment to sustainability, India needs to develop policies that encourage cleaner production methods and establishment of non-polluting industries. Simultaneously, it must disincentivize industries that emit CO2 by policy frameworks such as carbon taxes, pollution taxes or green taxes.Originality/valueNone of studies examine at how these environmental factors interact in India. Kilavuz and Dogan (2020) used the same variables, but their scope was limited to Turkey. As a result, the study is the first to examine this relationship for India, contributing to the body of knowledge on economic growth, manufacturing, trade openness and environmental concerns.
Ritesh Patel and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Ritesh Patel and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Deepak Danak and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Mitesh Patel, Ritesh Patel, and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Ritesh Patel, Mitesh Patel, and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Ritesh Patel, Mitesh Patel, and Nikunj Patel
Associated Management Consultants, PVT., Ltd.
Dharamashi Rabari, Nikunj Patel, Milind Joshipura, and Tamal Banerjee
American Chemical Society (ACS)
Ionic liquids (ILs) are eco-friendly solvents due to their low vapor pressure. Properties such as density should be known as it affects the mass transfer rates. Due to its limitless combinations, it is impractical to measure densities experimentally. For the first time, the cohesion factor in the cubic equations of state (CEOS) is used to predict the densities of six commercial ILs, namely, 1-ethyl-3-methylimidazolium methane sulfonate [EMIM][MeSO3], 1-ethyl-3-methylimidazolium acetate [EMIM][Ac], 1-ethyl-3-methylimidazolium thiocynate [EMIM][SCN], 1-ethyl-3-methylimidazolium ethyl sulfate [EMIM][EtSO4], Tris(2-hydroxyethyl)-methylammonium methyl sulfate [TEMA][MeSO4], and trihexyl(tetradecyl) phosphonium bis(2,4,4-trimethylpentyl) phosphinate [TDTHP] [Phosph]. CEOS models such as predictive Soave–Redlich–Kwong (PSRK) coupled with cohesion factor gave better results when compared to the correlations such as Reid et al. (RR), Mchaweh et al. (MH), and the linear generalized model (LGM). In this work the PSR...
N.K. Patel and M.H. Joshipura
Elsevier BV