Aparna R Hawaldar

@christuniversity.in

Assistant Professor, School of Business and Management
CHRIST (Deemed to be University)

Aparna R Hawaldar


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https://researchid.co/aparna.hawaldar

RESEARCH INTERESTS

Corporate Finance, Social entrepreneurship, micro entrepreneurship, econometrics, sustainable finance
9

Scopus Publications

183

Scholar Citations

5

Scholar h-index

4

Scholar i10-index

Scopus Publications

  • A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance Factors Within Environmental Social Governance Factors in the BFSI Sector
    Geeta Maladkar, B. Suresha, Aparna Hawaldar, R. Anuradha
    Lecture Notes in Networks and Systems, 2026
  • Employee experience, well-being and turnover intentions in the workplace
    Sridevi Nair, Aparna Hawaldar, Arti Kumar
    International Journal of Organizational Analysis, 2025
    Purpose This study aims to examine the role of employee experience in influencing employee well-being and turnover intentions within organizations. The mediating role of well-being will also be investigated, along with an exploration of whether these relationships differ across genders, specifically in the Indian corporate context. Design/methodology/approach A descriptive, quantitative study was conducted using structured questionnaires to gather data from 111 employees in the Indian corporate sector. The study used a non-probability judgment sampling method. Data was analyzed through SPSS for descriptive and inferential statistics, and partial least squares was used to explore mediation and model fit. Findings The study found a significant impact of employee experience on well-being, as well as a negative correlation between both employee experience and turnover intention and well-being and turnover intention. Well-being was found to partially mediate the relationship between employee experience and turnover intention. Gender-based analysis revealed no significant differences in the relationships between these variables for men and women. Originality/value This research highlights the universal applicability of employee experience as a predictor of well-being and turnover intention, irrespective of gender. By establishing that gender does not moderate these relationships, this study provides new insights challenging traditional assumptions about gender disparities in workplace outcomes.
  • Evaluating Social Priorities in Environmental Social Governance for the BFSI Sector: A Fuzzy Analytic Hierarchy Process Perspective
    Geeta Maladkar, B. Suresha, Aparna Hawaldar, R. Anuradha
    Lecture Notes in Networks and Systems, 2025
  • Moderating role of firm characteristics on the relationship between corporate social responsibility and financial performance: evidence from India
    Nisha Prakash, Aparna Hawaldar
    Journal of Economics and Development, 2024
    PurposeThe effect of corporate social responsibility (CSR) on corporate financial performance (CFP) is shown to depend on both firm-specific and external factors. This study investigates the moderating role of two firm-specific factors – the firm life-cycle stage and ownership structure – on the CSR–CFP relationship in a developing economy setting – India.Design/methodology/approachThe study covers 1,419 listed companies in India during 2015–21. The firm lifecycle is represented using firm age and future growth prospects. Ownership is represented through a dummy variable and promoters’ holding percentages. Return on assets (RoA) is used as a measure of CFP, while CSR intensity, i.e. the ratio of CSR expenditure to profit after tax (PAT), is used to represent CSR. Fixed effect panel regression and generalized method of moments (GMM) models are used for data analysis.FindingsCSR expenditure has a significant negative impact on CFP. Firm age and future growth prospects amplify this negative impact, indicating that the firm life-cycle has a significant negative moderating effect on the CSR–CFP relationship. Furthermore, the impact of CSR on CFP is worse for government companies than private ownership. Promoters’ holdings have a positive impact on the CSR–CFP relationship.Research limitations/implicationsThe results question the validity of mandatory CSR expenditure on companies operating in developing countries and call for a differentiated policy approach to CSR expectations based on firm characteristics. This study also enhances the existing literature on CSR–CFP.Originality/valueThe growing research on CSR–CFP has limited coverage of firm characteristics as contributing factors. Hence, this paper helps in enhancing the existing literature on CSR–CFP and makes it more relevant to firms with specific characteristics.
  • Rethinking growth for long-term welfare: A case for circular economy transition in the tourism sector in Nepal
    Inclusive Business Approaches in Tourism Stakeholder Engagement, 2024
  • Investigating the Determinants of Financial Well-Being: A SEM Approach
    Nisha Prakash, Aparna Hawaldar
    Business Perspectives and Research, 2024
    Studies reveal that the financial well-being of employees has a direct bearing on their productivity and overall well-being. The wellness initiatives organized by the information technology (IT) companies operating in India have also started focusing on the contributing aspects of financial well-being. In this context, the article explores the determinants of financial well-being of IT professionals in India. The article utilizes confirmatory factor analysis (CFA) for the analysis. The study employs a survey questionnaire covering financial literacy, financial behavior, and financial fragility. It also attempts to recognize the influence of gender and job roles (technical or managerial) in ascertaining financial well-being. The sample data used in the study include 237 professionals employed in the IT sector. The study uses partial least squared structured equation modelling (PLS-SEM) to understand the connection between the determining factors. The results indicate that financial well-being is positively influenced by financial literacy and financial behavior while financial fragility has a substantial negative impact. The financial literacy and financial fragility are significantly different between technical and managerial roles. Gender appears to have a sizeable impact on the financial behavior and financial fragility levels—women employees performed better in both the factors. Interestingly, financial literacy levels of the two genders are not significantly different. The results show that there is a need to focus on literacy, behavior, and fragility in financial wellness programs organized by the IT industry. Further, the study recommends offering tailored financial wellness training modules created based on the job levels and gender instead of following “one program, fits all” standardized approach.
  • Role of management education in adapting the Indian public sector to market-based economic reforms
    Nisha Prakash, Aparna Hawaldar
    International Journal of Public Sector Management, 2023
    PurposeIn 1991, India embarked on market-based economic reforms initiatives pillared on liberalization, privatization and globalization (LPG). The reforms exposed the public sector enterprises to competitive market forces, raising the need to identify and develop the competencies necessary for survival. Executive training programs were initiated to prepare public enterprises for the market-based reforms. Three decades later, the reforms especially privatization is witnessing renewed interest under the current administration. In this context, the article takes a closer look at the structure of management education provided to public sector officers in India. The article also identifies barriers for implementing the learnings from the management courses in the workplaces and suggests approaches for closing the gap.Design/methodology/approachThe study follows a thematic approach based on unstructured interviews of senior executives of Indian public sector enterprises covering oil and gas, aeronautical, power and transportation sectors. New public management (NPM) is used as a yardstick of “business-like” characteristics of public sector enterprises.FindingsDespite heavy investment, trainings have had only partial success in implementing the core objective of NPM, i.e. to provide quality services in a professional manner to meet citizen requirements. The study found that though concepts of NPM are introduced at multiple management training programs, the public enterprises lag in the implementation of NPM. The ingrained hierarchical and procedural culture of the enterprises was often highlighted as the challenge to its implementation.Practical implicationsThe study will be of significance to Indian policymakers in designing management education programs to public sector employees. It brings out – (1) various models of management education provided to public servants across industries, (2) provide evidence on the extent of NPM implementation, (3) identify barriers for transitioning the learnings from the management courses to workplace and (4) suggest changes for improving effectiveness.Originality/valueThe existing research on LPG in India covers the economic transformation post-implementation and the factors contributing to the success of its implementation. This study adds to the limited literature available on the management education of public servants in the country.
  • The impact of Covid-19 on the capital structure in emerging economies: evidence from India
    Nisha Prakash, Aditya Maheshwari, Aparna Hawaldar
    Asian Journal of Accounting Research, 2023
    PurposeCapital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis.Design/methodology/approachThe study utilizes three leverage ratios in an extended market index, BSE500, for the period 2015–2021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (2015–2019) and pandemic (2020–2021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity.FindingsThe findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty.Research limitations/implicationsThe study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid.Practical implicationsTo maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival.Originality/valueDeveloping countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival.
  • Demographic characteristics influencing financial wellbeing: a multigroup analysis
    Nisha Prakash, Subburaj Alagarsamy, Aparna Hawaldar
    Managerial Finance, 2022
    PurposeThe study attempts to understand the factors impacting the financial wellbeing of IT employees in India using confirmatory factor analysis (CFA). It utilizes well-established survey instruments to assess the impact of financial literacy, financial behaviour and financial stress on financial wellbeing. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis.Design/methodology/approachStructured equation modelling (SEM) is used to study the link between the determinants. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis. Data used for the analysis covers 237 employees working in the IT sector.FindingsWhile financial literacy and financial behaviour have a significant positive impact on financial wellbeing, financial stress has a significant negative impact. Financial behaviour and financial stress were found to have a mediating role in the relationship between financial literacy and financial wellbeing. The demographic variables significantly moderate the relationship between the factors leading to financial wellbeing.Originality/valueThe results show the need for financial wellbeing programs to focus on enhancing financial knowledge and improving financial planning. Further, it suggests offering customized financial wellbeing programs based on the employee's demographic characteristics rather than following a “one program, fits all” approach.

RECENT SCHOLAR PUBLICATIONS

  • Employee experience, well-being and turnover intentions in the workplace
    S Nair, A Hawaldar, A Kumar
    International Journal of Organizational Analysis 33 (8), 2287-2306 , 2025
    2025.0
    Citations: 9
  • Evaluating Social Priorities
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    Communication and Intelligent Systems: Proceedings of ICCIS 2024, Volume 3 3, 1 , 2025
    2025.0
  • Evaluating Social Priorities in Environmental Social Governance for the BFSI Sector: A Fuzzy Analytic Hierarchy Process Perspective
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    International Conference on Communication and Intelligent Systems, 1-15 , 2024
    2024.0
  • Moderating role of firm characteristics on the relationship between corporate social responsibility and financial performance: evidence from India
    N Prakash, A Hawaldar
    Journal of economics and development 26 (4), 346-361 , 2024
    2024.0
    Citations: 20
  • A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance Factors Within Environmental Social Governance Factors in the BFSI Sector
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    International Conference on Advances in Data-driven Computing and … , 2024
    2024.0
  • Investigating the determinants of financial well-being: A SEM approach
    N Prakash, A Hawaldar
    Business Perspectives and Research 12 (1), 11-25 , 2024
    2024.0
    Citations: 13
  • Role of management education in adapting the Indian public sector to market-based economic reforms
    N Prakash, A Hawaldar
    International Journal of Public Sector Management 36 (4-5), 315-332 , 2023
    2023.0
    Citations: 2
  • The impact of Covid-19 on the capital structure in emerging economies: evidence from India
    N Prakash, A Maheshwari, A Hawaldar
    Asian Journal of Accounting Research 8 (3), 236-249 , 2023
    2023.0
    Citations: 43
  • Demographic characteristics influencing financial wellbeing: a multigroup analysis
    N Prakash, S Alagarsamy, A Hawaldar
    Managerial Finance 48 (9-10), 1334-1351 , 2022
    2022.0
    Citations: 96
  • A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    Advances in Data-Driven Computing and Intelligent Systems: Selected Papers … , 0
  • Central Bank Digital Currency and Farmer Empowerment in India-Achieving Sustainable Development Goals through Digital Agricultural Support
    C Meghana, RA Yadav, SR Patil, AR Hawaldar

MOST CITED SCHOLAR PUBLICATIONS

  • Demographic characteristics influencing financial wellbeing: a multigroup analysis
    N Prakash, S Alagarsamy, A Hawaldar
    Managerial Finance 48 (9-10), 1334-1351 , 2022
    2022.0
    Citations: 96
  • The impact of Covid-19 on the capital structure in emerging economies: evidence from India
    N Prakash, A Maheshwari, A Hawaldar
    Asian Journal of Accounting Research 8 (3), 236-249 , 2023
    2023.0
    Citations: 43
  • Moderating role of firm characteristics on the relationship between corporate social responsibility and financial performance: evidence from India
    N Prakash, A Hawaldar
    Journal of economics and development 26 (4), 346-361 , 2024
    2024.0
    Citations: 20
  • Investigating the determinants of financial well-being: A SEM approach
    N Prakash, A Hawaldar
    Business Perspectives and Research 12 (1), 11-25 , 2024
    2024.0
    Citations: 13
  • Employee experience, well-being and turnover intentions in the workplace
    S Nair, A Hawaldar, A Kumar
    International Journal of Organizational Analysis 33 (8), 2287-2306 , 2025
    2025.0
    Citations: 9
  • Role of management education in adapting the Indian public sector to market-based economic reforms
    N Prakash, A Hawaldar
    International Journal of Public Sector Management 36 (4-5), 315-332 , 2023
    2023.0
    Citations: 2
  • Evaluating Social Priorities
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    Communication and Intelligent Systems: Proceedings of ICCIS 2024, Volume 3 3, 1 , 2025
    2025.0
  • Evaluating Social Priorities in Environmental Social Governance for the BFSI Sector: A Fuzzy Analytic Hierarchy Process Perspective
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    International Conference on Communication and Intelligent Systems, 1-15 , 2024
    2024.0
  • A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance Factors Within Environmental Social Governance Factors in the BFSI Sector
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    International Conference on Advances in Data-driven Computing and … , 2024
    2024.0
  • A Fuzzy Analytic Hierarchy Process Approach to Prioritize Governance
    G Maladkar, B Suresha, A Hawaldar, R Anuradha
    Advances in Data-Driven Computing and Intelligent Systems: Selected Papers … , 0
  • Central Bank Digital Currency and Farmer Empowerment in India-Achieving Sustainable Development Goals through Digital Agricultural Support
    C Meghana, RA Yadav, SR Patil, AR Hawaldar