Management Insight

The Phygital Synergy: How Metaverse Immersion Fuels Customer Loyalty through Perceived Value and Brand Engagement - An Integrated S-O-R and TAM Framework

Soniya K, A. Aaziya — Wed, 31 Dec 2025 00:00:00 +0530

The metaverse offers a paradigm shift for omnichannel retail, but empirical studies on its convergence with physical channels are in their
infancy. Filling this research gap, this paper defines the metaverse as a strategic omnichannel touchpoint and explores its effect on loyalty.
We propose and examine an original conceptual model based on the Stimulus-Organism-Response (S-O-R) theory and the Technology
Acceptance Model (TAM). The model suggests metaverse immersion (Stimulus) affects internal states (Organism)—perceived value and
brand engagement—that in turn shape behavioral outcomes (Response)—purchase intention and customer loyalty. Most importantly, we
predict that physical retail experience mediates the intention-loyalty relationship, testing the very core "phygital synergy" hypothesis. A
sequential mixed-method design was used, starting with qualitative data from 12 retail specialists, followed by a quantitative survey of
512 Indian metaverse users. Data were processed using PLS-SEM. Findings verify all the hypotheses: metaverse immersion has a strong
positive effect on perceived value and brand engagement, which induce purchase intention and, consequently, loyalty. One main finding
is the significant, positive moderating effect of physical retail experience, which empirically confirms the phygital synergy effect. This
study adds to omnichannel theory by providing a combined S-O-R/TAM framework for phygital environments and offers managers
tangible strategies for capitalizing on the metaverse to create seamless, loyal customer experiences.

Entrepreneurial Leadership and Intrapreneurial Behaviour in Digital Transformation: A Bibliometric Mapping and Conceptual Framework

Navendu Nidhan, Basant Kumar Singh, Ritika Maurya, Dilip Kumar — Wed, 31 Dec 2025 00:00:00 +0530

This study offers a comprehensive bibliometric and conceptual synthesis exploring the evolving nexus between entrepreneurial
leadership (EL) and intrapreneurial behaviour (IB) within the digital era. Utilizing a dataset of 273 Web of Science publications from
2001–2025, advanced bibliometric methods, including co-authorship, co-citation, and keyword co-occurrence analyses were applied to
map intellectual structures and thematic trajectories. The findings reveal four dominant clusters: the EL–IB relationship, digital
transformation drivers, psychological and behavioural mediators, and innovation-sustainability outcomes. Central mediators such as
psychological empowerment, digital readiness, and organizational support emerge as critical mechanisms linking EL and IB. Building on
these insights, the study proposes a novel integrative conceptual framework and a future research agenda that deepens theoretical
understanding and offers actionable implications for scholars and practitioners seeking to foster intrapreneurship in digitally
transforming organizations. This work advances entrepreneurial leadership theory by contextualizing it within contemporary
technological disruption and organizational innovation dynamics.

The Psychology of Play-to-Pay: Analyzing Behavioral Factors Affecting Gamified Reward Adoption in M-Commerce Apps

Sanju Mahawar, Kali Charan Modak — Wed, 31 Dec 2025 00:00:00 +0530

Gamification has emerged as a powerful strategy in mobile commerce (M-commerce) applications, enhancing user engagement and
encouraging repeat usage. This study explores the behavioral factors that influence the adoption of gamified reward systems among users
in Pune city. The research focuses on four key constructs: perceived enjoyment, perceived usefulness, reward sensitivity, and habitual
usage. Data was collected through a structured questionnaire and analyzed using exploratory factor analysis to identify underlying
patterns in user behavior. The study confirms that gamified features in shopping apps are adopted not only for entertainment but also for
their practical benefits and motivational appeal.

Connecting Organizational Performance to Action, Results, and Cultural Controls: Findings from a Quantitative Study in the African Managerial Context

Wed, 31 Dec 2025 00:00:00 +0530

This study examines the relationship among outcomes, social dynamics, and cultural phenomena related to performance, with a focus on
efficiency, accountability, and innovation within the African management context. A cross-sectional survey research design was used to
collect data from 200 middle managers, finance managers/officers, and departmental heads in universities, banking, and manufacturing
companies in Ghana. In this research, descriptive analysis, correlation analysis, and regression analysis (including Cronbach's alpha and
component analyses) were the statistical methods. The results suggest that output and action controls are positively related to
performance efficiency, while only action controls are positively related to effectiveness. In addition, cultural and practice differences are
breeding creativity, while the action controls serve as means for increased accountability. These findings highlight the inadequacies of
Management Control Systems (MCS) as performance aids, particularly in Africa. That would require that managers and administrators
draw clear lines of demarcation that respect institutional and regional traditions. This study holds great value in the discipline of risk
management, as it introduces new insights from MCS theory in an African context and enhances knowledge regarding how control
systems complement each other to facilitate progress toward sustainable development in developing economies, thereby enhancing
future economic growth.

Fintech and Loyalty: Meeting Expectations in Bangalore

Dinesh S, R. Saminathan — Wed, 31 Dec 2025 00:00:00 +0530

This increased pace of fintech in Bangalore has revolutionised the financial sector, and customer satisfaction and retention have become
the core ingredients to success. This paper reviews the customer experiences in service quality, ease of use, security, personalisation, and
trust. The satisfaction level affects loyalty to a great degree, which in this case contributed to the regression models used in the study of
450 fintech users. In addition, satisfaction, personalisation and trust an excellent indicator of loyalty. The results shown indicate the
mediating quality of satisfaction and the relevance of matching services to the expectations of the customers. In the case of fintech
providers, user-friendly technology, security, and personalised services are of primary importance to achieving long-term customer
loyalty and leading to the possibility of maintaining growth in competitive cities. The study can enrich the body of knowledge on fintech
as it presents some practical strategies to continue building customer relations and boosting loyalty.

A Study on Mutual Funds in India with Reference to SBI

Piyush Gupta, Anjali Singh, Thakur Digbijay Singh — Wed, 31 Dec 2025 00:00:00 +0530

In recent years, mutual funds have become increasingly popular as a means of ensuring financial security. They have not only contributed
to India's economic growth but have also helped families benefit from the nation's prosperity. As awareness and understanding of mutual
funds increase, more people are enjoying the advantages of investing in them. However, a significant barrier to broader adoption is that
nine out of ten income earners in India are still unaware of mutual funds. Once informed about the investment opportunities mutual funds
offer, one in five individuals typically decides to invest. Identifying potential investors who are likely to purchase mutual funds and
effectively communicating the benefits and relevance of mutual funds during the sales process are crucial for converting uninformed
individuals into new mutual fund clients. The analyses and recommendations presented in this report are based on market research into
investors' saving and investment behaviors, as well as their preferences for mutual fund investments. The findings indicate that SBI
Mutual Funds have typically achieved strong performance, providing returns that are competitive with other market funds. Despite this,
there are ongoing challenges related to investor awareness and education, as many potential investors are still hesitant due to concerns
about market volatility and a limited understanding of the benefits of mutual funds.

Are Females Ready to Become Entrepreneurs? A Case Study of Entrepreneurial Intentions Among Female Students in the Higher Education System of Uttar Pradesh

Pooja Singh — Wed, 31 Dec 2025 00:00:00 +0530

This study aims to assess the entrepreneurial behavior of female students in higher education in Uttar Pradesh, India, using the framework
of the theory of planned behavior and self-determination theory. It employs a quantitative research approach, collecting 250 data points
from female students through a non-probability sampling method. The findings indicate that female students’ proactiveness (β = .27),
creativity (β = .18), narcissism (β = .18), entrepreneurial passion (β = .14), and self-efficacy (β = 0.11) significantly influence their
entrepreneurial intentions. Conversely, risk tolerance, optimism, and the need for achievement do not have a significant effect on their
decision to pursue entrepreneurship as a career. Additionally, entrepreneurial motivations such as autonomy (β = .84) and perceived
usefulness (β = .89) fully and significantly mediate the relationship between female students’entrepreneurial qualities and their intention
to start a business in the future. The study offers implications for policymakers aiming to foster and support female entrepreneurs in
developing countries like India. It underscores the importance of understanding women’s unique motivations for becoming entrepreneurs
in patriarchal societies and highlights the necessity of supportive institutional frameworks to enable their success.

Demographic Influences on Resilience and Organisational Citizenship Behaviour among IT Professionals in Delhi NCR

Swati Rana, G. S. Batra — Wed, 31 Dec 2025 00:00:00 +0530

The Indian IT industry operates in a fast-paced and demanding work environment, where the ability of employees to adapt and engage in
organisational citizenship behaviour (OCB) are crucial for long-term success. Among 514 IT workers from the Delhi NCR area, this
study looks at how resilience and OCB are affected by different demographic characteristics. These variables include age, gender, marital
status, education, job experience, and company size. Standardised measures, such as the Podsakoff et al. (1990) OCB scale (24 items) and
the 25-item Connor-Davidson Resilience scale (CD-RISC), were used to gather data. When we ran the numbers through a t-test and an
analysis of variance, we found that factors like age, education level, and years of experience had a substantial impact on resilience and
organisational citizenship behaviour (OCB). While business size and marital status did not show any significant effects, gender did have a
significant influence on OCB but not resilience. The study highlighted the significance of HR strategies that prioritise demographics in
order to enhance employee well-being and encourage positive behaviour on the job. Implications for practice indicate that businesses
might boost output by embracing diversity in the workplace through strategic initiatives. Researchers in the future could broaden their
scope to include additional industries and regions, or they could engage in longitudinal studies to ensure a more comprehensive
understanding.

From Awareness to Action: Evaluating Awareness, Attitude, Behaviour and Practices of Students towards Solid Waste Management in India

Bhavana Singh, Anjana Singh, Nivedita Verma — Wed, 31 Dec 2025 00:00:00 +0530

The purpose of this research paper is to assess the level of awareness regarding solid waste management (SWM) among university
students in India. As SWM remains a major challenge globally due to urbanization, industrial growth, and evolving consumption habits,
the study explores students' current practices, attitudes, behaviours, and awareness related to SWM. It specifically aims to identify the
factors influencing students’ awareness, examine how these factors impact awareness levels, and analyze the relationship between
awareness and actual waste management behaviours. A quantitative methodology was adopted, utilizing a structured questionnaire
distributed to a sample of 246 university students. Data analysis involved exploratory factor analysis and correlation analysis. Findings
reveal that while students display strong attitudes and behaviours toward SWM, their awareness is only moderate and practices vary.
Notably, awareness is significantly associated with behaviour and practice but shows a weak connection with attitude. The strong
correlation between attitude and behaviour indicates that promoting positive attitudes could be more effective in fostering sustainable
waste management behaviours.

Application of Six Sigma to Evaluate Credit Risk Assessment in Commercial Banks

Wed, 31 Dec 2025 00:00:00 +0530

Improper credit risk assessment reduces the bank's profitability. It also has an impact on the quality of assets and also increases the loan
losses and will also cause financial crises for the bank. If this happens the common people will lose their faith in the bank and it will
directly affect the deposits of money into the bank.
The objective of the paper is to provide an introduction and understanding of credit risk and analysis of credit risk assessment. The
purpose of this study was to identify debt risk and debt risk assessment and to resolve it with the help of the six sigma DMAIC tool.
Banks are very careful and strict in providing financial information to others.In the 1980s, Motorola began using Six Sigma (Six Sigma) to
address market share and manufacturing costs, as well as increased production costs. When someone applies for the loan it becomes very
difficult for the bank that whatever to give the loan or not so we need to check everything about the borrower. So if we apply the six sigma
we can make the process very easy.

A Robust Approach for Forecasting and Planning Municipal Solid Waste Generation: A SARIMA Model

Parul Jain, Raunak Kumar Gupta — Wed, 31 Dec 2025 00:00:00 +0530

Mission (SCM) the ambitious goal of the smart city mission in Varanasi- aimed at improving quality of life, sustainability and urban
efficiency which remain fundamentally unachievable without addressing the pervasive challenges in its municipal solid waste
management. Current SWM practices, marked by issues such as insufficient source segregation, reliance on open dumping, and
inadequate processing infrastructure (despite some progresses with door to door collection and the Karsada plant) present significant
environmental and public health risk that directly counteract the “smart” and “clean” city vision. Varanasi being one of India's oldest and
most densely populated cities, the municipal Solid Waste Management (MSW) system faces escalating challenges due to urbanization,
population growth and tourism, making accurate forecasting essential for sustainable planning. This study presents a robust monthly
MSW data from January 2020 to December 2024 collected from the Varanasi Nagar Nigam office. Using SARIMA (2,0,2) (1,0,0) [12],
the research captures seasonal and non-seasonal trends in waste generation and projects future trends for 2025–2027. The analysis
confirms that waste generation exhibits significant seasonality influenced by festivals and urban activities. Key findings suggest a
consistent increase in waste generation over time with peaks during festival seasons. The results of this forecasting can aid in policymaking, budgeting, and strategic planning for sustainable waste management in Varanasi. The study recommends incorporating
forecasting tools in municipal planning and highlights the importance of public participation and technological innovation in improving
urban waste systems.

Impact of Supervisory Support on Work Engagement of Ph.D. Scholars

Pragati Singh, Divyanshu Pandey, Rajat Kumar Singh, Akanksha Singh — Wed, 31 Dec 2025 00:00:00 +0530

Supervisory support and work engagement among Ph.D. scholars are critical research areas concerning doctoral studies' high demands
and challenges. The quality of supervisory support significantly impacts work engagement, defined as vigor, dedication, and absorption
in academic work. According to recent research, effective supervisory support, which encompasses academic guidance, emotional
support, and respect for cultural diversity, is essential for improving work engagement. Ph.D. students were more engaged when they
perceived that their supervisors provided them with more support. The COVID-19 pandemic further reinforced the significance of this
support, that administrators who maintained empathic and regular communication could assist scholars in managing stress and
maintaining engagement during the crisis. This paper provides a comprehensive review of recent literature to explicate the role of
supervisory support and their impact on work engagement of Ph.D. Scholars. Wherein, supervisory support plays a crucial role in
elevating the level of engagement among Ph.D. Scholars. It also offers insights into how effective supervision can improve doctoral
students' academic experiences and outcomes.

Demystifying Financial Evaluation of Public Sector Banks: Pre-and Post-Merger

Parulben Rameshbhai Rohit, Ramroop K. Sharma — Wed, 31 Dec 2025 00:00:00 +0530

A sound banking environment immensely espouses a country’s economic growth. Measuring bank competence provides opportunities to
ameliorate the financial system. The Indian government's 2019 mega-merger of public sector banks (PSBs) envisioned to increase their
financial and operational performance. The moral hazard risk is more serious with PSBs due to crony capitalism and governance issues.
The government augments recapitalization whenever necessary and henceforth alters banks' perspectives on apt risk management
perspectives. Despite geopolitical conflicts, geoeconomic fragmentation, commodity price volatility, climate change, aging populations,
and declining productivity, the global banking industry is resilient with robust capital buffers, increased profitability, and other indicators.
The banking sector strife in several advanced countries in 2023 was put down by swift policy interferences that prevented a systemic
predicament. Formidable macroeconomic groundworks in India have enriched the health and performance of the country's banking. In
2023-24, banks saw a sixth consecutive year of increased profitability and by 31st March 2024, their gross non-performing assets
(GNPAs) ratio dropped to 2.7%, the lowest level in past 13 years. This article examines the financial performance of six PSBs (Bank of
Baroda-BOB, Canara Bank-CB, Indian Bank-IB, Punjab National Bank-PNB, State Bank of India-SBI, and Union Bank of India-UBI)
pre-and post-merger. Outcomes divulge that not significant variation between financial evaluation (return on assets: ROA; return on
equity: ROE; earnings per share: EPS; and net interest margin: NIM) in the pre-and post-merger periods except there lies the significant
difference in NIM of BOB and UBI. The study's conclusion will help various stakeholders including banks, customers, and regulators to
develop effective measures that boost the financial performance of PSBs, shareholder earnings, and synergy implications of mergers and
acquisitions (M&As).

Digital Payment Adoption among Postgraduate Students in Varanasi: An Analysis of Usage Patterns, Preferences and Barriers

Sunit Kumar Mishra, Devendra Prasad Pandey, Vijay Singh Parihar — Wed, 31 Dec 2025 00:00:00 +0530

The research paper under study focuses on the adoption, preferences, and barriers by postgraduate students towards digital payment
systems in Varanasi, which is one of the most important educational centers in India. As India ranks first in the world in the number of realtime transactions related to digital payments and as the digital payment infrastructure has been rapidly growing, it is important to
understand the behavior of students with respect to financial inclusion and economic development. The paper examines the determinants
of adopting digital payments among postgraduate students, their platforms of choice, how they use them, and the difficulties they
encounter when replacing their conventional payment methods with digital solutions.