Ashish Kumar

@iimj.ac.in

Assistant Professor, Finance and Accounting
Indian Institute of Management Jammu

Ashish Kumar


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https://researchid.co/ashishkumar

RESEARCH INTERESTS

Infrastructure Finance, PPP, Firm Performance, Bibliometric Analysis, Strategic Management
10

Scopus Publications

139

Scholar Citations

7

Scholar h-index

5

Scholar i10-index

Scopus Publications

  • Does CEO duality moderate environmental, social, and governance performance-earnings management relationship? Evidence from emerging markets
    Swati Mohapatra, Ashish Kumar, Malaya Ranjan Mohapatra, Vikas Srivastava
    Finance Research Letters, 2025
  • Factors impacting housing prices in National Capital Region (NCR), India: a quantile regression approach
    Ashish Kumar
    Property Management, 2025
    Purpose This study aims to empirically investigate the factors that impact housing prices in the National Capital Region (NCR), India, using ordinary least squares (OLS) and quantile regression estimation approaches. Design/methodology/approach The data for the study were collected from various websites of various real estate intermediaries and through discussions with apartment owners’ associations in NCR. Quantile regression was used along with OLS to understand the impact of various factors on housing prices using a dataset of 529 residential properties. Findings The study findings establish that size, age, number of bathrooms, floor level, security, parking, lift, power backup, waste disposal system and distances from hospital and shopping complexes have a positive impact on housing prices, while the number of rooms, number of balconies, distances from school, metro station and employment zone are established as negative factors for housing prices. The impact is not uniform across all quantiles for some factors. The impact of amenities was established to be the highest in deciding the housing prices in NCR, India. Research limitations/implications The research extends the ongoing empirical research on understanding “what impacts the housing prices?” by providing empirical evidence on the factors impacting housing prices in an emerging market (India) and a buoyant residential market (NCR). This study will help future researchers explore the other factors impacting housing prices in diverse residential settings in India and globally. Practical implications The study findings provide significant insights to various stakeholders in housing development ecosystems like regulatory bodies, policymakers, builders, designers and homebuyers. The rising demand for houses driven by rural migration towards urban locations is a positive factor for real estate developers. Still, the increased competitive scenario makes it difficult to achieve competitive pricing to attract home buyers. The findings will help the real estate developers understand the factors impacting the housing prices and help them design and structure their house offerings accordingly. Governments also increasingly use public-private partnerships in the affordable housing segment. The study findings will help the planning bodies achieve the right design, amenities and pricing to attract buyers and make their housing societies citizen-friendly. Originality/value As per the authors’ knowledge, this is the first comprehensive research endeavour to empirically investigate the major factors influencing housing prices in NCR, India.
  • Impact of facility management service quality on occupants' satisfaction and property reputation: evidence from Indian commercial properties using SERVQUAL model
    Ashish Kumar, Sarel Lavy
    Property Management, 2025
    Purpose This study aims to understand the effects of the SERVQUAL dimensions of facility management on commercial occupant satisfaction and commercial property reputation in the National Capital Region (NCR), India. Design/methodology/approach The data for this study were collected from 734 occupants in NCR, India. SmartPLS4.0 was employed to analyze the data using structured equation modeling. Findings The study's findings demonstrate that all SERVQUAL dimensions of facility management – tangibles, assurance, empathy, reliability and responsiveness – have a significant influence on occupant satisfaction. Occupant satisfaction has a positive impact on property reputation. Moreover, occupant satisfaction mediates the relationship between the SERVQUAL dimensions of facility management and property reputation. Research limitations/implications The study extends service industry research to demonstrate that facility management service quality positively impacts customer satisfaction in emerging economies, such as India. Future studies may use these findings to examine other dimensions for evidence-based research in real estate. Practical implications The present study findings are relevant for multiple stakeholders in the real estate sector. With a growing demand for commercial space in emerging markets like India, driven by increased economic activity, the findings will guide property management companies and commercial building operators in focusing on enhancing service quality standards to maintain long-term relationships with occupants and improve the property's reputation, thereby overcoming competitive pressures. This positive property reputation will help them attract high-paying occupants with lower customer acquisition costs, resulting in improved profitability. Originality/value To the authors' best knowledge, this is a pioneer study to empirically investigate the impact of facility management service quality standards on occupant satisfaction and property reputation for commercial properties in India. This study provides new insights into various aspects of occupant satisfaction in NCR's commercial properties in India.
  • Does facility-maintenance service quality drive tenants’ willingness to pay higher rent? Evidence from Indian residential real estate infrastructure
    Ashish Kumar
    Facilities, 2024
    Purpose This paper aims to empirically investigate the effect of facility–maintenance service quality on tenants’ satisfaction and their subsequent willingness to pay higher rent in the National Capital Region (NCR), India. Design/methodology/approach The data for this study was collected from 1,692 tenants in NCR, India. SmartPLS4.0 was used to analyze the data using structured equation modeling. Findings The study findings indicate that all parameters of facility–maintenance service quality (tangibles, service personnel quality and empathy) positively impact tenants’ satisfaction. Further, satisfied tenants are willing to pay higher rentals. In addition, customer satisfaction partially mediates the relationship between facility–maintenance service quality and willingness to pay higher rent. Research limitations/implications The study extends evidence-based research in the service industry to provide empirical evidence that facility–maintenance service quality positively impacts customer satisfaction in real estate settings in emerging markets (India). This research will guide future researchers to explore other dimensions to support evidence-based research in real estate settings. Practical implications Based on the data collected online after personal interaction in residents’ meetings, the study findings provide significant insights for stakeholders such as policymakers, practitioners, landlords, associations and builders. With rising housing demand because of rural migrations toward urban or metro locations coupled with the government’s inability to expand the infrastructure simultaneously, the government has enhanced the role of public–private partnership (PPP) in housing development. The findings will help policymakers incorporate the service angle into key performance indicators in PPP contracts. Additionally, with rising competition in the housing sector, understanding these factors will help landlords and resident associations improve service quality standards, thus enhancing the residential societies’ word-of-mouth publicity and attracting high-paying residents. Originality/value To the best of author’s knowledge, this is a pioneer study to empirically investigate the impact of facility–maintenance service quality standards on tenants’ satisfaction and willingness to pay higher rent in a residential setting in India.
  • International Journal of Emerging Markets: a bibliometric review 2006–2020
    Ashish Kumar, Shikha Sharma, Ritu Vashistha, Vikas Srivastava, Mosab I. Tabash, Ziaul Haque Munim, Andrea Paltrinieri
    International Journal of Emerging Markets, 2024
    PurposeInternational Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.Design/methodology/approachData used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.FindingsStudy findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.Originality/valueTo the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.
  • International journal of organizational analysis: a bibliometric review (2005–2020)
    Mosab I. Tabash, Ashish Kumar, Shikha Sharma, Ritu Vashistha, Ghaleb A. El Refae
    International Journal of Organizational Analysis, 2023
    Purpose The International Journal of Organizational Analysis (IJOA) is a leading journal that has published high-quality research focused on various facets of organizational analysis since 1993. This paper aims to conduct a retrospective analysis of the IJOA journey from 2005 to 2020. Design/methodology/approach The data used in this study was extracted using the Scopus database. The bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of the journal. The mapping of bibliographic data is carried using VOSviewer and Biblioshiny. Findings The study findings indicate that IJOA has grown for publications and citations since its inception. Five significant research directions emerged, i.e. organizational diagnostics, organization citizenship behaviour, organizational commitment to employee retention, psychological capital and firm performance, based on cluster analysis of IJOA’s publications. Originality/value To the best of the authors’ knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJOA. The study presents the key themes and trends emerging from a leading journal, considered a high-quality journal, for researching various facets of organizational functioning by academicians, scholars and practitioners.
  • Effect of country governance on trade credit activities: Empirical evidence from Pakistan
    Mosab I. Tabash, Umar Farooq, Basem Hamouri, Ashish Kumar, Mamdouh Abdulaziz Saleh Al-Faryan
    Cogent Economics and Finance, 2023
    An existence of good governance situation ensures the progress of economic sectors. The recent literature has mentioned the role of country governance in multiple business operations. However, the effect of country governance on trade credit is not yet explored in the literature. Thus, the current analysis aims to test the empirical nexus between country governance and trade credit activities. The empirical analysis was arranged on Pakistani non-financial enterprises over the period 2010–2019. The regression between variables was established by employing the generalized least square and generalized method of the moment models. The empirical analysis documents the positive effect of aggregate governance index and other proxies of governance including voice and accountability, political stability, regulatory quality, and corruption control on both trade payables and receivables. The favorable governance situation makes business operations more transparent, reduces market uncertainty, and ensures the protection of rights. All these factors positively achieve trade credit operations. We find robust evidence in the presence of both firm-specific and macroeconomic factors. The findings of the study yield an important policy regarding the role of better governance in boosting trade-credit operations. By enlightening the direct effect of country governance on trade credit, this research adds the innovative arrangement of the variable in the existing literature.
  • Profitability determinants of infrastructure public private partnerships (PPPs): empirical evidence from Indian data
    Ashish Kumar, Vikas Srivastava, Mosab I. Tabash, Divyanshi Chawda
    Journal of Financial Management of Property and Construction, 2022
    Purpose The purpose of this study is to empirically investigate the variables having an impact on profitability of public private partnerships (PPPs) in India using a balanced panel data of 171 unlisted PPPs from different infrastructure sectors such as road, power generation, real estate and ports. Design/methodology/approach Estimations were done using Arellano–Bond dynamic panel data estimation and seemingly unrelated regression models on a balanced panel data of 855 firm-years for 171 unlisted PPPs in India. To further test the estimation robustness, panel-corrected standard errors model was used. Findings The study findings indicate that in firm-specific factors, leverage, size, non-debt tax shield, growth and risk have significant positive impact on PPPs’ profitability, whereas in macroeconomic factors, only inflation has significant positive relationship. Although the relationship of all determinants is in sync with various theories and approaches, but these are not significant. Using the robustness test, the results are found to be robust and consistent with resource-based view and strategy-structure-performance approaches. Practical implications As PPPs are gaining prominence in the development of infrastructural resources, their profitability is of significant importance to drive private investments in infrastructure development, the identification of factors which determine profitability is critical for researchers, practitioners, policymakers and fund providers such as equity investors and debt providers. Originality/value The empirical literature on profitability determinants is focused on various sectors including small and mid-size enterprises (SMEs) and micro firms, but to the best of the authors’ knowledge, this is the first study, in both developed and developing economies, to empirically investigate the determinants of profitability for PPPs.
  • Infrastructure project finance: a systematic literature review and directions for future research
    Ashish Kumar, Vikas Srivastava, Mosab I. Tabash
    Qualitative Research in Financial Markets, 2021
    Purpose The objective of this systematic literature review (SLR) is to outline the existing research in the field of infrastructure project finance (IPF). This paper aims to summarise the academic and practitioner research to highlight the benefits of adopting IPF structures in uncertain environments. By highlighting all conceptual and applied implications of IPF, the study identifies future research directions to develop a holistic understanding of IPF. Design/methodology/approach The SLR is based on 125 articles published in peer-reviewed journals during 1975–2019. After providing a brief overview of IPF, research methodology and citation, publication and author analysis, the SLR presents the various domains around which existing research in IPF is focussed and provides future research propositions in each domain. Findings The study found that despite the increased usage of IPF, academic and practitioner research in the field is lagging. Also, with increased usage of IPF in emerging and under-developed economies, IPF structure presents a perfect setting to understand how investment and financing are interlinked and how to overcome the institutional voids, socio-economic risks and inter-partner differences by IPF structures. Originality/value This literature review paper is based on the research in IPF between 1975 and 2019. To the best of the authors’ understanding, the SLR is the first focussed study detailing a methodical and thorough compendium of existing studies in the IPF domain. By focussing on various domains of IPF research, this paper presents future research avenues in the field.
  • Financing infrastructure projects in India from corporate finance to project finance
    International Research Journal of Finance and Economics, 2010

RECENT SCHOLAR PUBLICATIONS

  • Impact of facility management service quality on occupants’ satisfaction and property reputation: Evidence from Indian commercial properties using SERVQUAL model
    A Kumar, S Lavy
    Property Management, 1-24 , 2025
    2025
  • Factors impacting housing prices in National Capital Region (NCR),India: a quantile regression approach
    A Kumar
    Property Management, 1-21 , 2025
    2025
    Citations: 1
  • Does CEO duality moderate environmental, social, and governance performance-earnings management relationship? Evidence from emerging markets
    S Mohapatra, A Kumar, MR Mohapatra, V Srivastava
    Finance Research Letters 73 , 2024
    2024
    Citations: 16
  • Does facility-maintenance service quality drive tenants’ willingness to pay higher rent? Evidence from Indian residential real estate infrastructure
    A Kumar
    Facilities , 2024
    2024
    Citations: 7
  • Effect of country governance on trade credit activities: Empirical evidence from Pakistan
    MI Tabash, U Farooq, B Hamouri, A Kumar, MAS Al-Faryan
    Cogent Economics & Finance , 2023
    2023
    Citations: 8
  • International Journal of Emerging Markets: a bibliometric review 2006–2020
    A Kumar, S Sharma, R Vashistha, V Srivastava, MI Tabash, ZH Munim, ...
    International Journal of Emerging Markets , 2022
    2022
    Citations: 31
  • International journal of organizational analysis: a bibliometric review (2005–2020)
    M Tabash, A Kumar, S Sharma, R Vashistha, G El Refae
    International Journal of Organizational Analysis , 2022
    2022
    Citations: 7
  • Profitability determinants of infrastructure public private partnerships (PPPs): empirical evidence from Indian data
    A Kumar, V Srivavstava, MI Tabash, D Chawda
    Journal of Financial Management of Property and Construction 27 (1), 91-111 , 2022
    2022
    Citations: 33
  • Infrastructure Project Finance: A Systematic Literature Review and Directions for Future Research
    A Kumar, V Srivastava, MI Tabash
    Qualitative Research in Financial Markets 13 (3), 295-327 , 2021
    2021
    Citations: 13
  • Research Trends in Public Private Partnerships (PPPs): A Bibliometric Study (2010-2020).
    A Kumar
    Amity Management Review 9 , 2020
    2020
  • Critical Factors for Project Success - A study of select Indian projects
    A Kumar
    Changing Horizons of Indian Business 1, 74-87 , 2019
    2019
  • Financing Infrastructure Development in India: Challenges and Road Ahead
    A Kumar
    Economic Revival in India: Issues and Challenges 1, 104-120 , 2018
    2018
  • Turning Red Ocean More Red: Impact of Entry of Reliance Jio in Hyper-competitive Indian Telecommunication Industry
    A Kumar
    Jaipuria International Journal of Management Research 3 (2), 86-93 , 2017
    2017
    Citations: 2
  • Funding Infrastructure Development in India
    A Kumar
    VIEWPOINT- An International Journal of Management and Technology 8 (1), 30-34 , 2017
    2017
    Citations: 1
  • Can a Big Bazaar also sell an Armani - Will the Retail Repositioning by Maruti Suzuki Work
    A Kumar
    NSHM Journal of Management Research and Application 6 (2), 46-49 , 2016
    2016
  • Impact of acquisition on performance of Indian companies – a comparative study of domestic and cross border acquisitions
    A Kumar
    International Journal of Research in Finance and Marketing 6 (5), 1-13 , 2016
    2016
  • Adoption of franchising model for growth at carnation auto - is it the right move
    V Kumar, A., Singh
    International Journal of Computing and Corporate Research 5 (3) , 2015
    2015
  • Effectiveness of target-based incentive schemes to minimize agency conflicts
    A Kumar, G Bagra
    IMR Management Speak 7 (2), 8-20 , 2014
    2014
  • Financing Infrastructure Projects in India from Corporate Finance to Project Finance
    V Srivastava, A Kumar
    International Research Journal of Finance and Economics, 7-21 , 2010
    2010
    Citations: 13
  • Infrastructure financing: the road ahead
    A Kumar, M Gupta
    Synergy 4 (2), 54-80 , 2006
    2006

MOST CITED SCHOLAR PUBLICATIONS

  • Profitability determinants of infrastructure public private partnerships (PPPs): empirical evidence from Indian data
    A Kumar, V Srivavstava, MI Tabash, D Chawda
    Journal of Financial Management of Property and Construction 27 (1), 91-111 , 2022
    2022
    Citations: 33
  • International Journal of Emerging Markets: a bibliometric review 2006–2020
    A Kumar, S Sharma, R Vashistha, V Srivastava, MI Tabash, ZH Munim, ...
    International Journal of Emerging Markets , 2022
    2022
    Citations: 31
  • Does CEO duality moderate environmental, social, and governance performance-earnings management relationship? Evidence from emerging markets
    S Mohapatra, A Kumar, MR Mohapatra, V Srivastava
    Finance Research Letters 73 , 2024
    2024
    Citations: 16
  • Infrastructure Project Finance: A Systematic Literature Review and Directions for Future Research
    A Kumar, V Srivastava, MI Tabash
    Qualitative Research in Financial Markets 13 (3), 295-327 , 2021
    2021
    Citations: 13
  • Financing Infrastructure Projects in India from Corporate Finance to Project Finance
    V Srivastava, A Kumar
    International Research Journal of Finance and Economics, 7-21 , 2010
    2010
    Citations: 13
  • Effect of country governance on trade credit activities: Empirical evidence from Pakistan
    MI Tabash, U Farooq, B Hamouri, A Kumar, MAS Al-Faryan
    Cogent Economics & Finance , 2023
    2023
    Citations: 8
  • Does facility-maintenance service quality drive tenants’ willingness to pay higher rent? Evidence from Indian residential real estate infrastructure
    A Kumar
    Facilities , 2024
    2024
    Citations: 7
  • International journal of organizational analysis: a bibliometric review (2005–2020)
    M Tabash, A Kumar, S Sharma, R Vashistha, G El Refae
    International Journal of Organizational Analysis , 2022
    2022
    Citations: 7
  • Capital Budgeting Practices in Indian Chemical Companies: A Survey
    A Kumar, B Shah
    IMS Manthan 1 (2), 65-84 , 2006
    2006
    Citations: 7
  • Turning Red Ocean More Red: Impact of Entry of Reliance Jio in Hyper-competitive Indian Telecommunication Industry
    A Kumar
    Jaipuria International Journal of Management Research 3 (2), 86-93 , 2017
    2017
    Citations: 2
  • Factors impacting housing prices in National Capital Region (NCR),India: a quantile regression approach
    A Kumar
    Property Management, 1-21 , 2025
    2025
    Citations: 1
  • Funding Infrastructure Development in India
    A Kumar
    VIEWPOINT- An International Journal of Management and Technology 8 (1), 30-34 , 2017
    2017
    Citations: 1
  • Impact of facility management service quality on occupants’ satisfaction and property reputation: Evidence from Indian commercial properties using SERVQUAL model
    A Kumar, S Lavy
    Property Management, 1-24 , 2025
    2025
  • Research Trends in Public Private Partnerships (PPPs): A Bibliometric Study (2010-2020).
    A Kumar
    Amity Management Review 9 , 2020
    2020
  • Critical Factors for Project Success - A study of select Indian projects
    A Kumar
    Changing Horizons of Indian Business 1, 74-87 , 2019
    2019
  • Financing Infrastructure Development in India: Challenges and Road Ahead
    A Kumar
    Economic Revival in India: Issues and Challenges 1, 104-120 , 2018
    2018
  • Can a Big Bazaar also sell an Armani - Will the Retail Repositioning by Maruti Suzuki Work
    A Kumar
    NSHM Journal of Management Research and Application 6 (2), 46-49 , 2016
    2016
  • Impact of acquisition on performance of Indian companies – a comparative study of domestic and cross border acquisitions
    A Kumar
    International Journal of Research in Finance and Marketing 6 (5), 1-13 , 2016
    2016
  • Adoption of franchising model for growth at carnation auto - is it the right move
    V Kumar, A., Singh
    International Journal of Computing and Corporate Research 5 (3) , 2015
    2015
  • Effectiveness of target-based incentive schemes to minimize agency conflicts
    A Kumar, G Bagra
    IMR Management Speak 7 (2), 8-20 , 2014
    2014