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Purpose This paper aims to develop a corporate financial distress model for Indian listed companies using financial and non-financial parameters by using a conditional logit regression technique. Design/methodology/approach This study used a sample of 96 companies, of which 48 were declared sick between 2014 and 2016. The sample was divided into a training sample and a testing sample. The variables for the study included nine financial variables and four non-financial variables. The models were developed using financial variables alone as well as combining financial and non-financial variables. The performance of the test sample was measured with confusion matrix, sensitivity, specificity, precision, F-measure, Types 1 and 2 error. Findings The results show that models with financial variables had a prediction accuracy of 85.19 and 86.11 per cent, whereas models with a combination of financial and non-financial variables predict with comparatively better accuracy of 89.81 and 91.67 per cent. Net asset value, long-term debt–equity ratio, return on investment, retention ratio, age, promoters holdings pledged and institutional holdings are the critical financial and non-financial predictors of financial distress. Originality/value This study contributes to the financial distress prediction literature in different ways. First, there have been, until now, few studies in the area of financial distress prediction in the Indian context. Second, business failure studies in the past have used only financial variables. The authors have combined financial and non-financial variables in their model to increase predictive ability. Thirdly, in most earlier studies, variable institutional holdings were found to affect financial distress negatively. In contrast, the authors found this parameter to be positively significant to the financial distress of the company. Finally, there have hitherto been few studies that have used promoter holdings pledged (PHP) or pledge ratio. The authors found this variable to influence business failure positively.

Purpose The purpose of the paper is to review and analyse different glass ceiling studies conducted in different Asian countries during the three decades after the introduction of the metaphor. It also describes the antecedents and the consequences of the glass ceiling. Design/methodology/approach The method chosen for the study was a computerised search of available materials using the keywords relating to glass ceiling in Asia and latest reports from international organisations. Findings The perception of glass ceiling existence in Asian countries has been sorted out region-wise. Different factors for glass ceiling have been categorised under different theories. Research limitations/implications The study includes a multiregional aspect of glass ceiling, which will be useful for further studies in this area. The limitation of the study is that it did not assess the awareness and influence of glass ceiling in each industry. Practical implications Since the study showed glass ceiling practices in different countries in Asia, it might help policy makers for making proper decisions for breaking of glass ceiling. Social implications The study may be a part of empowering women as it analyses areas of inequality and finds out antecedents. Originality/value This paper is the first to shed light on glass ceiling on a multicultural and multiregional aspect.

Purpose The purpose of this paper is to empirically examine the influence of women’s land ownership status on their inclusion in developing economies. Design/methodology/approach The study adopted a cross-sectional analysis. Data were taken from Global Findex data of World Bank and Indices of social development. Data were analysed using limited information maximum likelihood to establish the relationship between usage of basic financial services and women’s land ownership status variables. The study considers different demographic, social and economic factors as control variables. Socio-economic gender equality index and land ownership status of men are considered as instrumental variables in the estimations for controlling endogeneity problem. Findings The study proves that there is a significant influence of women’s land ownership status on their demand and usage of basic financial services. The results show that women who own land alone have a significant relationship for formal account ownership and formal savings but are deprived of formal and informal credit. The results find that women are more likely to avail of formal credit when they are backed by someone else in the family especially men. Irrespective of the wealth quintile to which women belong, they are deprived of credit if they do not own any land. The findings also show that women in higher wealth quintiles are more active in availing credit. Research limitations/implications The study is limited to the extent of influence of women’s land ownership status on their demand for basic financial services. Practical implications The study recommends appropriate economic and financial policies to encourage women to own, possess and use their land for personal as well as entrepreneurial activities. The study also suggests for policies to encourage women for joint ownership of land for better credit availability. Social implications Formal institutions must be more favourable for women in providing credit facilities because women play an essential role in economic development in developing economies. Originality/value This study is the first of its type in providing empirical evidence that women’s land ownership status influences their demand for basic financial services in developing countries.