This study aims to investigate the size–leverage relationship in the context of India—one of the important emerging economies. Most of the studies that have tested the relationship between firm size and leverage have been conducted in the developed economies. For testing the much-discussed size–leverage relationship, we employ a large sample of firms for the study over a time span of 17 years from 2002 to 2018. Our findings support the negative size–leverage relationship, confirming the propositions of the pecking order theory. The study has implications for policymakers regarding the development of corporate debt market in India.

This paper investigates market structure, conduct, and performance in the context of the banking industry of India, and, in particular, the effects of consolidation. Using an unbalanced panel dataset comprising 30 banks from 2010 to 2020, the effects of changes in the degree of market concentration, interest rate spreads, and profitability are explored through panel Vector Auto-regression (PVAR) method. By employing Concentration Ratio (CR4) as a measure for consolidation, we analyse how the changes in structure of the sector affect the conduct and performance. Our findings indicate that banks operating in more concentrated markets tend to enjoy sustained profitability in the short term, as reflected by the positive relationship between market concentration (CR4) and interest rate spreads (IRS). However, competition continues to moderate this relationship, and the effects of concentration are not fully captured by market-based performance measures like Tobin’s Q. This suggests that market participants anticipate future competition or regulatory intervention, which could mitigate the benefits of concentration over time. The findings provide important implications for the regulatory policy and managerial strategies of the banking system in view of the ongoing banking consolidation processes.

The study provides an overview of the evolution of ALM from the idea of asset-liability matching to sophisticated techniques like stochastic programming. This can help ALM practitioners in banks and other entities to choose a suitable ALM strategy for managing their portfolios efficiently.

This paper analyses the non-performing assets (NPA) crisis in the Indian banking system from the perspective of soft budget constraints. Using a panel dataset of 105 publicly listed firms, it explores the relationship between NPAs and bank lending behaviour, particularly examining credit rationing regarding firm size and risk level. The findings indicate that Indian banks favour large firms over smaller ones, while credit rationing is not adequately aligned with borrower riskiness. However, the Asset Quality Review (AQR) by the Reserve Bank of India and the introduction of the Insolvency and Bankruptcy Code (IBC) seem to have enforced risk-based lending to some extent. These results shed light on the systemic issues that drive NPAs, linking them to governance weaknesses and the prevalence of soft budget constraints.

Financial data leaks have emerged as one of the most critical risks for individuals, corporations, and governments in the digital economy. This chapter examines the nature, types, and consequences of financial leaks, drawing on high-profile cases such as the Panama Papers, LuxLeaks, and the Equifax breach. The discussion traces how leaks occur through cyberattacks, insider threats, weak security systems, and third-party vulnerabilities, while also highlighting the role of underground markets in trading stolen information. A distinct focus is placed on artificial intelligence, which is now central to both the problem and the solution. Criminal groups are increasingly utilizing AI for phishing, deepfakes, and automated intrusion, while organizations are applying AI for anomaly detection, behavioral monitoring, and predictive risk management. By integrating governance, compliance, and AI-driven security measures, the chapter outlines a comprehensive approach to safeguarding financial systems against data breaches in an era where digital threats continue to grow in scale and speed.