Purpose The paper aims to investigate the relationship between human resource practices (HRPs), employee engagement and firm performance, with a focus on the mediating role of employee engagement in its association. Design/methodology/approach Data for the present study were collected from 281 middle- and senior-level executives representing various Indian industries of different sizes via convenient sampling. The SPSS PROCESS macro (model 4) was employed to analyze the collected data. Findings The results revealed that human resource (HR) practices have a direct and positive impact on firm performance. Moreover, employee engagement represented a partially mediated effect. The analysis showed that the influence is significantly augmented when employee engagement is factored into this relationship. Practical implications This investigation highlights the importance of organizations adopting a holistic HR approach that fosters employee engagement at every stage of the HR lifecycle. Training and development initiatives not only equip employees with essential skills but also play a critical role in boosting engagement. Elevated employee engagement leads to increased commitment, job satisfaction and organizational citizenship behaviors, ultimately driving improved firm performance. Originality/value This study's findings offer valuable insights for organizations aiming to enhance their HR practices to improve firm performance. Firms that invest in robust HR practices, including recruitment, training and talent management, stand to gain significantly by fostering higher levels of employee engagement.

Purpose This study investigates motivations and processes that enable career transitions from paid employment to entrepreneurship by applying Schlossberg's transition theory to examine participants' experiences before, during and after the transition. Design/methodology/approach A qualitative research design was applied using semi-structured interviews with Sri Lankan participants who successfully transited from salaried work to entrepreneurial careers. Thematic analysis was applied to participants' success stories to identify stage-specific drivers, supports and behaviors across the pre-transition, transition and post-transition phases. Findings Career transitions were underpinned by persistent self-efficacy, confidence and clarity about personal strengths. These core individual attributes interacted with contextual enablers such as family support and timely decision to enter the market in facilitating change. Successful entrants to entrepreneurship also maintained a positive appraisal of the transition, practised self-discipline and adopted deliberate strategies to manage stress and sustain mental well-being. The findings highlight the multifaceted set of elements, such as identity, personal agency and environmental resources across the transition phases. The results show that the success of the transition depends on both individual agency and the enabling socio-economic environment. Originality/value This study advances the understanding of individuals' decision to pursue an entrepreneurial career by developing a thematic model grounded in Schlossberg's transition logic, capturing the full sequence from pre-transition intention to post-transition entrepreneurial behavior. The model offers phase-specific insights into the transition from employment to entrepreneurship. It also extends transition theory to the small business and entrepreneurship domain by providing a contextually embedded contribution from the South Asian setting.

Purpose This study examines the impact of corporate social responsibility (CSR) initiatives on the socio-economic development of local communities in the industrial regions of Uttarakhand, which are characterized by rapid industrial growth, significant CSR investment, and environmental and socio-economic challenges. Furthermore, the mediating role of corporate accountability is studied. Design/methodology/approach The authors collected primary data from residents near the industrial zones of Uttarakhand using a multi-stage sampling method. Smart-PLS 4.0 software was employed to assess the reliability of the variables and explore their relationships. Findings The results indicate a strong positive link between CSR and socio-economic development. Moreover, there is a significant positive relationship between CSR and corporate accountability. However, corporate accountability, both as a direct predictor and as a mediating variable, does not exert a statistically significant influence on socio-economic outcomes. Practical implications These results suggest that even within India's mandated CSR environment, corporate accountability alone cannot drive socio-economic development, underscoring the need for stronger corporate governance and more transparent CSR disclosures aligned with environmental, social, and governance principles. Originality/value While prior studies have examined CSR practices in India, limited empirical research has evaluated integrated community-level CSR models in industrial zones, particularly the mediating role of corporate accountability. Thus, this study holds substantial theoretical and empirical importance.

Purpose This paper investigates the impact of exchange rate movements on firm value, settling a long-standing argument on the magnitude of its effect. We aim to shed light on the mystery of exchange rate exposure. Design/methodology/approach An analysis of monthly data for ten (10) years from 1st April 2012 to 31st March 2022 for 567 import and export-oriented Indian firms has been undertaken. Econometric models like auto-regressive integrated moving average (ARIMA), vector error correction model (VECM), and autoregressive distributed lag (ARDL) have been used to derive the unanticipated component of the exchange rate to estimate for each firm separately using ordinary least squares. Findings The study has found that 80.95% (459/567) of the sample firms have exhibited significant exposure to unanticipated exchange rate changes derived from the ARIMA model. The level of exposure varies from 74.56% to 54.85% using several other models and different exchange rate measures. Research limitations/implications The study found, confirmed and emphasised the various possible reasons for the ongoing debate of the “Exchange Rate Exposure Puzzle.” An approach for measuring exchange rate exposure has been suggested. Financial managers may use the recommended method to measure exchange rate exposure. Originality/value The study has added value to the existing literature by arguing that measurement bias committed by the existing literature is primarily due to the usage of actual exchange rates and argues how unanticipated exchange rate changes are an effective and superior measurement tool for exchange rate exposure.

The publisher of South Asian Journal of Business Studies is issuing an expression of concern for the following article Saleem, H., Shabbir, M.S., Khan, B., Aziz, S., Md Husin, M. and Abbasi, B.A. (2021), “Estimating the key determinants of foreign direct investment flows in Pakistan: new insights into the co-integration relationship”, South Asian Journal of Business Studies, Vol. 10 No. 1, pp. 91-108. https://doi.org/10.1108/SAJBS-07-2019-0123, to inform readers that concerns have been raised regarding its authorship. Post-publication, changes were identified in the authorship between the original submission and the revised versions of this article. The authors Hummera Saleem, Bilal Khan, Shahab Aziz, Maizaitulaidawati Md Husin, and Bilal Ahmed Abbasi were added to the revised article without approval by the journal's editor or publisher, which is in breach of Emerald's authorship policy. An investigation is ongoing and is currently unresolved. Further information will be provided by South Asian Journal of Business Studies as it becomes available. The authors of this article would like to note that they do not agree with the content of this notice. The publisher of the journal sincerely apologizes to the readers of this article.

Purpose Cryptocurrency has revolutionized the financial landscape by enabling transparency, security and fostering innovation across investors. Accordingly, the study examines the factors impacting consumer behavior towards cryptocurrency adoption for transactions by comparing urban and rural contexts through the “unified theory of acceptance and use of technology (UTAUT3)” model. Design/methodology/approach This article consists of two cross-sectional surveys: Study R has 398 rural investors, whereas Study U contains 405 urban investors to examine cryptocurrency adoption. Furthermore, data analysis was conducted using the “partial least squares-structural equation modeling (PLS-SEM)” technique. Findings The results concluded that performance expectancy, social influence and hedonic motivation positively impact behavioral intention and use behavior towards cryptocurrency adoption. In contrast, effort expectancy insignificantly impacts rural (Study R) and urban investors (Study U). Additionally, personal innovativeness and financial literacy positively influence; however, perceived risk insignificantly influences behavioral intention and use behavior in Study R and U. Surprisingly, facilitating conditions had a substantial impact in Study U. However, in Study R, they had no significant influence on behavioral intention and use behavior. Originality/value This paper bridges existing research gaps by providing cryptocurrency practitioners and regulators with valuable insights to expand their knowledge base and prioritize key intentions. Despite the ongoing growth in cryptocurrency, academic research remains in its early stages, with limited focus on this innovation. Additionally, the researchers argue that none of the previous research has yet executed a comparative study between rural and urban perspectives on this latest investment regime.

Purpose This study examines how well-being-oriented human resource management (WBHRM) practices influence organizational citizenship behavior, with employee happiness as a mediator. It further evaluates the moderating role of engaging leadership in the WBHRM–happiness relationship. Design/methodology/approach Data were obtained from employees in the textile sector using a stratified sampling technique. The final sample included 305 usable responses from three major cities in Pakistan: Karachi, Lahore, and Faisalabad. Structural equation modeling (SEM) using AMOS 21.0 was employed to test the study hypotheses. Findings Results indicate that WBHRM practices significantly enhance employee happiness and organizational citizenship behavior. Happiness at work partially mediates the relationship between WBHRM practices and organizational citizenship behavior. Engaging leadership also exerts a significant moderating effect; however, the interaction reveals that the positive influence of WBHRM on workplace happiness is stronger when engaging leadership is low. Originality/value The study contributes new insights into HRM and leadership literature by jointly examining employee happiness as a mediator and engaging leadership as a contextual moderator. Focusing on Pakistan's textile industry, it offers context-specific evidence from a developing economy where empirical research on WBHRM and happiness at work remains limited.

Purpose This study aims to investigate the dynamic and region-specific comovements between Bitcoin and environmental, social and governance (ESG) returns across emerging and developed markets, in response to recent economic and regulatory transformations in sustainable finance. Design/methodology/approach A dual econometric framework – combining the cross-wavelet transform and time-varying Granger causality (TVGC) tests within recursive expanding windows – is employed to capture both time–frequency comovements and evolving causal linkages between Bitcoin and ESG return. Findings The results reveal that Bitcoin's influence on ESG indices is both time-varying and region-dependent. Medium-term (6–12 months) comovements dominate in emerging markets such as Brazil and Mexico, driven by remittance flows and post-crisis recovery, whereas developed regions like the US and European Union display complex bidirectional linkages over longer horizons (1–2 years) shaped by financial maturity and policy transitions. The TVGC analysis further confirms significant causal interactions: Bitcoin exerts a stronger influence in emerging markets, while developed economies exhibit more balanced and policy-sensitive relationships. Practical implications The findings suggest that investors and policymakers should adapt Bitcoin–ESG strategies to regional contexts – promoting financial inclusion in emerging markets while reinforcing sustainability objectives in developed economies. Originality/value This study is among the first to integrate wavelet-based time–frequency analysis with rolling-window causality tests in exploring the crypto–ESG nexus. It provides novel evidence of the dynamic, region-dependent nature of these relationships and contributes to both academic literature and the design of sustainable investment and regulatory strategies.

Purpose The study aims to investigate the barriers limiting the adoption of digital wallets, particularly among the unbanked and examine how addressing these challenges can advance financial inclusion. Drawing on a structured analysis of personal, societal and technological factors, supported by cross-generational interviews, it identifies diverse user needs. The findings inform strategies to foster adoption, reduce financial inequalities, and promote sustainable digital finance, consistent with environmental, social and governance (ESG) principles and global sustainability objectives. Design/methodology/approach The study uses qualitative cross-generational interviews to examine the limited adoption of digital wallets particularly among the unbanked. It analyses internal, external and technological barriers, with the aim of advancing sustainable digital finance and supporting ESG integration and global sustainability goals through greater financial inclusion. Findings The study identifies key barriers to digital wallet adoption among the unbanked, including lack of trust, limited technology access and security concerns, and highlights opportunities such as improved financial literacy, targeted incentives and user-friendly solutions. Addressing these issues can advance financial inclusion, reduce inequality and support sustainable economic development. Practical implications Building trust through financial education, improving accessibility, designing user-centred interfaces, offering incentives and fostering multi-stakeholder collaboration are vital to leveraging digital wallets for sustainable digital finance. These strategies can promote financial inclusion, support ESG integration and advance global sustainability goals by reducing disparities and strengthening financial resilience. Social implications Limited adoption of digital wallets constrains poverty alleviation and economic equality by excluding the unbanked from digital finance. This study highlights the need for inclusive design, targeted interventions and digital literacy to bridge the digital divide. Addressing social barriers can enable digital wallets to advance financial empowerment, resilience and equitable, sustainable development. Originality/value The study examines the distinct challenges faced by the unbanked in adopting digital wallets, focusing on poverty alleviation and age-specific interventions. By integrating generational perspectives and adoption barriers, it advances understanding of digital wallets' role in financial inclusion. The research provides original insights and targeted strategies to support sustainable digital finance and global sustainability goals.