Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study

Size: px
Start display at page:

Download "Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study"

Transcription

1 Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study DR. Stephen D Silva, Director at Jamnalal Bajaj Institute of Management studies, Ruby Mansion, Second Floor, Barrack Road, Behind Metro Cinema, Mumbai Contact: , st.dsilva@gmail. com, Dr. Bernadette D Silva, Director of Smt. K.G. Mittal Institute of Management & Research, Ruby Mansion, Second Floor, Barrack Road, Behind Metro Cinema, Mumbai Contact: , bernadette.dsilva@gmail.com Money Markets are the major source of lending short term funds in the economy so as to maintain liquidity and stability of interest rates. The study is mainly aimed to analyse the effect of rising inflation rates on the Indian Money markets. Thus secondary data was collected from published sources and Regression technique was employed so as to understand the impact of soaring prices of money market instruments. Results from analysis reveal that growth in prices it has greatly affected the lending rates of short term financial instruments thus making borrowings costlier for the market participants and have suggested that government should take quick steps to combat with this rising inflation as it not only affects the money markets but also make it difficult for the country to achieve the sustainable economic growth. Keywords: Money Markets, Inflation, call money, 91 day T Bill, Commercial Paper

2 Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study Issue 5 Introduction The money market is a key component of the financial system as it is the fulcrum of monetary operations conducted by the central bank in its pursuit of monetary policy objectives. It is a market for short-term funds with maturity ranging from overnight to one year and includes financial instruments that are deemed to be close substitutes of money. The money market performs three broad functions. One, it provides an equilibrating mechanism for demand and supply of short-term funds. Two, it enables borrowers and lenders of short term funds to fulfill their borrowing and investment requirements at an efficient market clearing price. Three, it provides an avenue for central bank intervention in influencing both quantum and cost of liquidity in the financial system, thereby transmitting monetary policy impulses to the real economy. The objective of monetary management by the central bank is to align money market rates with the key policy rate. As excessive money market volatility could deliver confusing signals about the stance of monetary policy, it is critical to ensure orderly market behaviour, from the point of view of both monetary and financial stability. Thus, efficient functioning of the money market is important for the effectiveness of monetary policy. Varma (1997) have stated that the money market encompasses a wide range of instruments with maturities ranging from one day to a year, issued by the government and by banks and corporates of varying credit rating, and traded in markets of varying liquidity. The money market is also intimately linked with the foreign exchange market through the process of covered interest arbitrage in which the forward premium acts as a bridge between domestic and foreign interest rates. In the early nineties that interest rates were progressively deregulated in India, and there have therefore been few studies about the behaviour of interest rates in the country. Even today, the secondary market for long term debt is highly illiquid and underdeveloped. This makes it difficult to carry out an empirical study about long term interest rates. Review Of Literature Massimilianomarzo (2012) has investigated the relation between aggregate trading imbalances and interest rates in the Euro money market and have reported a strong evidence of a long-term linear relation between trading imbalances and liquidity prices for Euro interbank deposits. Augustine & Nam

3 (2012), have investigated empirically the impact of exchange rate changes on the money demand of seven Asian countries. Estimates of the co integrating relations are obtained using different estimators and the error-correction technique was used to obtain the estimates of the short-run dynamics. The major results show that increases in the exchange rate, exert a significant positive effect upon money demand in both the long-run and the short-run in each of the seven countries. Further, domestic interest rates are found to have significant negative effect on the demand for money. These effects may result in significant reallocation of resources by monetary authorities and market participants. Fernandomierzejewski (2012) have studied the extent to which central banks are able to anticipate the effects of monetary policy can be assessed within the framework of the liquidity-preference proposition. An actuarial-based theory of liquidity preference is developed in this paper, which extends the traditional framework by introducing borrowing restrictions. A major result of the paper is that the interest rate elasticity of the money demand, and hence, the effectiveness of monetary policy, directly depends on the series of nominal output returns. Carren (2012), have examined and assessed the causes of inflation in the post-dollarized Zimbabwe. It employs time series econometric methodology based on monthly data to examine the probable factors influencing inflation in the post-dollarized Zimbabwe. The influence on inflation of factors such imports, consumer expectation about future inflation, exchange rate, interest rates, output growth and money supply, among others is investigated. The study however finds evidence that consumer expectations about future inflation, money supply, current exchange rate, and import value are the major factors influencing post-dollarization inflation. Varma (1997) have analysed analyses the structure and inter-relationships of money market interest rates and studies the extent to which covered interest parity holds in India. The paper shows that there was a major structural break in September 1995 when in the wake of turmoil in the foreign exchange markets, covered interest arbitrage came into play in a big way for the first time. Though the money market is free from interest rate ceilings, structural barriers and institutional factors continue to create distortions in the market. Apart from the overnight inter-bank (call market) rate, the other interest rates in the money market are sticky and appear to be set in customer markets rather than auction markets. A well defined yield curve does not therefore exist in the Indian money market

4 Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study Issue 5 Research Methodology Research Objective: The study is mainly aimed to analyse the effect of rising inflation rates on the Indian Money markets. Thus the research was conducted to explore the relationship between short term lending instruments and WPI Prices. Data Collection: Secondary data was collected from published sources like IMF, WTO and RBI for the accounting year 2012 Sample Size: The sample size consist of weekly time series data of Mid Rates of Commercial Paper (CPs) & Certificate of Deposit (CDs), Weekly call Money rates and 91 Day Treasury Bills rate and weekly Inflation rate of Indian economy. The time series data included 51 observations ranging from 25th May 2012 to 10 June Data Analysis: To understand the impact of inflation rates on the Indian Money markets, Regression analysis was employed to derive the cause effect relationship. Statistical analysis like ANOVA was used to understand the mean difference amongst the variables. Therefore SPSS 16 and Excel software were used for the purpose of analysis. Findings & Analysis Call Money Rates H (0) 1: There is no existence of a significant relationship between call money rates and Inflation rate in Indian economy H (1) 1: There exists a significant relationship between call money rates and Inflation rate in Indian economy Table 1: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 51

5 Table 2: ANOVA df SS MS F Significance F Regression Residual Total Table 3: Residual Statistics Coefficients Standard t Stat P-value Error Intercept E-20 Log_ inflation Data Interpretation: From Table (2), it has been found that the p value or the Significance is which is quite lesser than 0.05 at 95% confidence level. The ANOVA table explains that there do exist a statistical significant relationship amongst the predictor and dependent variables. Table (1) describes the strength of relationship between predictor and dependent variables. The R square stands at 10.3% which denotes that there exists a very weak correlation amongst the variables. Table (3) on other hand helps in deriving the linear regression equation from the above statistical coefficients: Log CMR = * Log_ IR * E where, CMR: Log of Call money rate IR: Log of Inflation Rate E: Error Term Thus from the above analysis, we reject the null hypotheses and accept the alternative hypotheses that there exists a significant relationship between significant relationship between call money rates and Inflation rate in Indian economy 91 Day Treasury Bills H (0) 2: There is no existence of a significant relationship between 91 Day T Bill rates and Inflation rate in Indian economy H 2: There is existence of a significant relationship between 91 Day T (1) Bill rates and Inflation rate in Indian economy

6 Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study Issue 5 Table 4: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 51 Table 5: ANOVA df SS MS F Significance F Regression E-05 Residual Total Table 6: Residual Statistics Coefficients Standard t Stat P-value Error Intercept E-25 Log_ inflation E-05 Data Interpretation: From Table (5), it has been found that the p value or the Significance is 5.56E-05which is quite lesser than 0.05 at 95% confidence level. The ANOVA table explains that there do exist a statistical significant relationship amongst the predictor and dependent variables. Table (4) describes the strength of relationship between predictor and dependent variables. The R square stands at 28.45% which denotes that there exists a strong correlation amongst the variables. Table (6) on other hand helps in deriving the linear regression equation from the above statistical coefficients: Log 91 T Bill = * Log_ IR * E where, 91 T Bill rate: Rate on 91 Day Treasury Bills issued by Indian government IR: Log of Inflation Rate E: Error Term Thus from the above analysis, we reject the null hypotheses and accept the alternative hypotheses that there exists a significant relationship between significant relationship between 91 Day T Bill rates and Inflation rate in Indian

7 economy Commercial Paper H (0) 3: There is no existence of a significant relationship between mid rates of Commercial Paper and Inflation rate in Indian economy H 3: There is existence of a significant relationship between mid (1) rates of Commercial Paper and Inflation rate in Indian economy Table 7: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 51 Table 8: ANOVA df SS MS F Significance F Regression E E Residual Total Data Interpretation: From Table (8), it has been found that the p value or the Significance is which is quite higher than 0.05 at 95% confidence level. The ANOVA table explains that there does not exist a statistical significant relationship amongst the predictor and dependent variables. Table (7) describes the strength of relationship between predictor and dependent variables. The R square stands at 0.03% which denotes that there exists a negligible correlation amongst the variables. Thus from the above analysis, we accept the null hypotheses that there is no existence of a significant relationship between mid rates of Commercial Paper and Inflation rate in Indian economy Certificate of deposit H (0) 4: There is no existence of a significant relationship between mid rates of Certificate of Deposit and Inflation rate in Indian economy H (1) 4: There is existence of a significant relationship between mid

8 Examining The Impact Of Inflation On Indian Money Markets: An Empirical Study Issue 5 rates of Certificate of Deposit and Inflation rate in Indian economy Table 9: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 51 Table 10: ANOVA df SS MS F Significance F Regression Residual Total Data Interpretation: From Table (10), it has been found that the p value or the Significance is which is quite higher than 0.05 at 95% confidence level. The ANOVA table explains that there does not exist a statistical significant relationship amongst the predictor and dependent variables. Table (9) describes the strength of relationship between predictor and dependent variables. The R square stands at 0.7% which denotes that there exists a negligible correlation amongst the variables. Thus from the above analysis, we accept the null hypotheses that there is no existence of a significant relationship between mid rates of Certificate of Deposit and Inflation rate in Indian economy Conclusions Technical analysis has been conducted on Indian Money Markets due to recent Inflation problems which has global effect across different sectors of the world economies. It can be interpreted from the results that soaring Inflation has left some considerable effects on Indian Money Markets. It has been found that due to this growth in prices it has greatly affected the lending rates of short term financial instruments thus making borrowings costlier for the market participants. The major reason behind this decline is high soaring oil prices and increasing cost of raw materials for generating electric power. Further analysis of the study has also revealed that there is much impact

9 of inflation on Call money rates and 91 Day T bill rates, whereas mid rates of CDs and CPs have remain unaffected. One possible reason could be that call money and 91 Day T Bill rates are issued on weekly basis that are highly sensitive to inflationary conditions compared to fortnightly basis of CDs and CPs rates. Indian Money Markets are one of the core pillars of Indian Financial system since they fulfil short term liquidity requirements of the economy. Rising Inflation can lead to sharp fall in demand short term funds and also steep decrease in investor s confidence. Thus Indian government should take quick steps to combat with this rising inflation as it not only affects the money markets but also make it difficult for the country to achieve the sustainable economic growth. References [1] Augustine C. Arize, Kiseok Nam (2012), The Demand for Money in Asia: Some further Evidence ; International Journal of Economics and Finance, Vol: 4, No.: 8, August 2012, pp 59 [2] Carren Pindiriri (2012), Monetary Reforms and Inflation Dynamics in Zimbabwe ; International Research Journal of Finance and Economics, No: 90, May 2012, pp [3] Fernandomierzejewski (2012), The Optimal Liquidity Principle and the Aggregate Money Demand ; IMA Journal of Management Mathematics, Vol.: 23, No: 3, July 2012, pp [4] Jayanth Varma (1997), Indian Money Market: Market Structure, Covered Parity and Term Structure, The ICFAI Journal of Applied Finance, July 1997, Vol 3, No: 2, pp 1-10 [5] Massimilianomarzo; Paolozagaglia (2012), Trading Directions and the Pricing of Euro Interbank Deposits in the Long Run, Applied Economics Letters, Vol.: 19, No.: 18, December, , pp: [6] rbidocs.rbi.org.in (

Assessing The Financial Literacy Level Among Women in India: An Empirical Study

Assessing The Financial Literacy Level Among Women in India: An Empirical Study Assessing The Financial Literacy Level Among Women in India: An Empirical Study Bernadette D Silva *, Stephen D Silva ** and Roshni Subodhkumar Bhuptani *** Abstract Financial Inclusion cannot be achieved

More information

Assessing the Probability of Failure by Using Altman s Model and Exploring its Relationship with Company Size: An Evidence from Indian Steel Sector

Assessing the Probability of Failure by Using Altman s Model and Exploring its Relationship with Company Size: An Evidence from Indian Steel Sector DOI: 10.15415/jtmge.2017.82003 Assessing the Probability of Failure by Using Altman s Model and Exploring its Relationship with Company Size: An Evidence from Indian Steel Sector Abstract Corporate failure

More information

An Analytical Study to Identify the Dependence of BSE 100 on FII & DII Activity (Study Period Sept 2007 to October 2013)

An Analytical Study to Identify the Dependence of BSE 100 on FII & DII Activity (Study Period Sept 2007 to October 2013) International Journal of Business and Management Invention ISSN (Online): 2319 8028, ISSN (Print): 2319 801X Volume 3 Issue 8 ǁ August. 2014 ǁ PP.12-16 An Analytical Study to Identify the Dependence of

More information

Interest rate uncertainty, Investment and their relationship on different industries; Evidence from Jiangsu, China

Interest rate uncertainty, Investment and their relationship on different industries; Evidence from Jiangsu, China Li Suyuan, Wu han, Adnan Khurshid, Journal of International Studies, Vol. 8, No 2, 2015, pp. 74-82. DOI: 10.14254/2071-8330.2015/8-2/7 Journal of International Studies Foundation of International Studies,

More information

NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR

NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR Dr. G Nagarajan* N. Sathyanarayana** A. Asif Ali** LENDING IN PUBLIC SECTOR BANKS

More information

IMPACT OF GROWTH OF PRIORITY SECTOR IN INDIA

IMPACT OF GROWTH OF PRIORITY SECTOR IN INDIA IMPACT OF GROWTH OF PRIORITY SECTOR IN INDIA S.Felix Sophia, Ph.D. Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli-24 INTRODUCTION Priority Sector

More information

International Journal of Advance Research in Computer Science and Management Studies

International Journal of Advance Research in Computer Science and Management Studies Volume 2, Issue 11, November 2014 ISSN: 2321 7782 (Online) International Journal of Advance Research in Computer Science and Management Studies Research Article / Survey Paper / Case Study Available online

More information

The Effects of Public Debt on Economic Growth and Gross Investment in India: An Empirical Evidence

The Effects of Public Debt on Economic Growth and Gross Investment in India: An Empirical Evidence Volume 8, Issue 1, July 2015 The Effects of Public Debt on Economic Growth and Gross Investment in India: An Empirical Evidence Amanpreet Kaur Research Scholar, Punjab School of Economics, GNDU, Amritsar,

More information

Factors affecting the share price of FMCG Companies

Factors affecting the share price of FMCG Companies Factors affecting the share price of FMCG Companies Authors: Dharia Dilasha, Kakadia Sachita ABSTRACT To review the factors affecting the share prices of various FMCG companies like revenues, operating

More information

Estimating a Monetary Policy Rule for India

Estimating a Monetary Policy Rule for India MPRA Munich Personal RePEc Archive Estimating a Monetary Policy Rule for India Michael Hutchison and Rajeswari Sengupta and Nirvikar Singh University of California Santa Cruz 3. March 2010 Online at http://mpra.ub.uni-muenchen.de/21106/

More information

Impact of Corporate Social Responsibility on Financial Performance of Indian Commercial Banks An Analysis

Impact of Corporate Social Responsibility on Financial Performance of Indian Commercial Banks An Analysis Impact of Corporate Social Responsibility on Financial Performance of Indian Commercial Banks An Analysis Rajnish Yadav 1 & Dr. F. B. Singh 2 1 Research Scholar (JRF), Faculty of Commerce, Banaras Hindu

More information

Determinants of Capital structure with special reference to indian pharmaceutical sector: panel Data analysis

Determinants of Capital structure with special reference to indian pharmaceutical sector: panel Data analysis Article can be accessed online at http://www.publishingindia.com Determinants of Capital structure with special reference to indian pharmaceutical sector: panel Data analysis Abstract m.s. ramaratnam*,

More information

Financial Performance of Cement Companies- A Critical Appraisal

Financial Performance of Cement Companies- A Critical Appraisal Financial Performance of Cement Companies- A Critical Appraisal Anas Khan 1 Dr Basman Omar AL-Dalayeen 2 1. Research Scholar, Department of Commerce, Aligarh Muslim University, Aligarh-India 2. Al-Hussein

More information

STUDY OF RISING BENCHMARK 10-YEAR BOND YIELD AND ITS RELEVANCE TO ECONOMIC FACTORS

STUDY OF RISING BENCHMARK 10-YEAR BOND YIELD AND ITS RELEVANCE TO ECONOMIC FACTORS Journal of Management (JOM) Volume 6, Issue 1, January February 2019, pp. 21 30, Article ID: JOM_06_01_003 Available online at http://www.iaeme.com/jom/issues.asp?jtype=jom&vtype=6&itype=1 ISSN Print:

More information

Conflict of Exchange Rates

Conflict of Exchange Rates MPRA Munich Personal RePEc Archive Conflict of Exchange Rates Rituparna Das and U R Daga 2004 Online at http://mpra.ub.uni-muenchen.de/22702/ MPRA Paper No. 22702, posted 17. May 2010 13:37 UTC Econometrics

More information

A Study on Impact of EVA, Value of Firm and Cost of Capital as Per NI Approach on the Share Price of Pharmaceutical Industry

A Study on Impact of EVA, Value of Firm and Cost of Capital as Per NI Approach on the Share Price of Pharmaceutical Industry A Study on Impact of EVA, Value of Firm and Cost of Capital as Per NI Approach on the Share Price of Pharmaceutical Industry Mantrark Mehta Assistant Professor at Shri Chimanbhai Patel Institute of Management

More information

The Impact of Liquidity on Jordanian Banks Profitability through Return on Assets

The Impact of Liquidity on Jordanian Banks Profitability through Return on Assets The Impact of Liquidity on Jordanian Banks Profitability through Return on Assets Dr. Munther Al Nimer Applied Science University, Faculty of Economic and Administrative Science, Accounting Department

More information

EffEct of DEtErminants of capital structure on financial leverage: a study of selected indian automobile companies

EffEct of DEtErminants of capital structure on financial leverage: a study of selected indian automobile companies Article can be accessed online at http://www.publishingindia.com EffEct of DEtErminants of capital structure on financial leverage: a study of selected indian automobile companies Sangeeta Mittal*, Lavina

More information

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) Proceedings of the 2 nd International Conference on Current Trends in Engineering and Management ICCTEM -2014 ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume

More information

Capital Structure and Financial Performance: Analysis of Selected Business Companies in Bombay Stock Exchange

Capital Structure and Financial Performance: Analysis of Selected Business Companies in Bombay Stock Exchange IOSR Journal of Economic & Finance (IOSR-JEF) e-issn: 2278-0661, p- ISSN: 2278-8727Volume 2, Issue 1 (Nov. - Dec. 2013), PP 59-63 Capital Structure and Financial Performance: Analysis of Selected Business

More information

The Impact of Corporate Leverage on Profitability: A Study of Select Manufacture Industry in India

The Impact of Corporate Leverage on Profitability: A Study of Select Manufacture Industry in India The Impact of Corporate Leverage on Profitability: A Study of Select Manufacture Industry in India D. SILAMBARASAN, M. PRABHAVATHI Department of Commerce, Kanchi Mamunivar Centre for Postgraduate Studies,

More information

Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy

Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy International Journal of Current Research in Multidisciplinary (IJCRM) ISSN: 2456-0979 Vol. 2, No. 6, (July 17), pp. 01-10 Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy

More information

INFLATION TARGETING AND INDIA

INFLATION TARGETING AND INDIA INFLATION TARGETING AND INDIA CAN MONETARY POLICY IN INDIA FOLLOW INFLATION TARGETING AND ARE THE MONETARY POLICY REACTION FUNCTIONS ASYMMETRIC? Abstract Vineeth Mohandas Department of Economics, Pondicherry

More information

International Journal of Management (IJM), ISSN (Print), ISSN (Online), Volume 5, Issue 6, June (2014), pp.

International Journal of Management (IJM), ISSN (Print), ISSN (Online), Volume 5, Issue 6, June (2014), pp. INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976-6510(Online), ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 5, Issue 6, June

More information

ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, BANGALORE

ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, BANGALORE ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, Sridhara G* N. Sathyanarayana** BANGALORE Abstract: Transportation industry contributes a major role in the development of a company. Transportation

More information

Effects of Current Account Deficit on the Value of Indian Rupee

Effects of Current Account Deficit on the Value of Indian Rupee Effects of Current Account Deficit on the Value of Indian Rupee Sandeep Patalay To Link this Article: http://dx.doi.org/10.6007/ijarbss/v8-i10/5272 DOI: 10.6007/IJARBSS/v8-i10/5272 Received: 19 Sept 2018,

More information

The Impact of Liquidity Ratios on Profitability (With special reference to Listed Manufacturing Companies in Sri Lanka)

The Impact of Liquidity Ratios on Profitability (With special reference to Listed Manufacturing Companies in Sri Lanka) The Impact of Liquidity Ratios on Profitability (With special reference to Listed Manufacturing Companies in Sri Lanka) K. H. I. Madushanka 1, M. Jathurika 2 1, 2 Department of Business and Management

More information

Does the interest rate for business loans respond asymmetrically to changes in the cash rate?

Does the interest rate for business loans respond asymmetrically to changes in the cash rate? University of Wollongong Research Online Faculty of Commerce - Papers (Archive) Faculty of Business 2013 Does the interest rate for business loans respond asymmetrically to changes in the cash rate? Abbas

More information

Financial Liberalization and Money Demand in Mauritius

Financial Liberalization and Money Demand in Mauritius Illinois State University ISU ReD: Research and edata Master's Theses - Economics Economics 5-8-2007 Financial Liberalization and Money Demand in Mauritius Rebecca Hodel Follow this and additional works

More information

OPERATIONAL AND FINANCIAL PERFORMANCE OF URBAN COOPERATIVE BANKS IN INDIA

OPERATIONAL AND FINANCIAL PERFORMANCE OF URBAN COOPERATIVE BANKS IN INDIA OPERATIONAL AND FINANCIAL PERFORMANCE OF URBAN COOPERATIVE BANKS IN INDIA Dr. P. Sanjeevi Professor Department of Management Studies, BITS Visakhapatnam Mr. P. ManojBabu Asst. Professor Department of Management

More information

Impact of Bullion fluctuations in Indian Economy

Impact of Bullion fluctuations in Indian Economy Impact of Bullion fluctuations in Indian Economy Ms.Pallabi Mukherjee Assistant Professor, IBMR, IPS Academy, Indore, MP. ABSTRACT India's share in the world trade of gold is as less as 2% but its demand

More information

IMPACT OF MACROECONOMIC VARIABLE ON STOCK MARKET RETURN AND ITS VOLATILITY

IMPACT OF MACROECONOMIC VARIABLE ON STOCK MARKET RETURN AND ITS VOLATILITY 7 IMPACT OF MACROECONOMIC VARIABLE ON STOCK MARKET RETURN AND ITS VOLATILITY 7.1 Introduction: In the recent past, worldwide there have been certain changes in the economic policies of a no. of countries.

More information

Influence of Macroeconomic Indicators on Mutual Funds Market in India

Influence of Macroeconomic Indicators on Mutual Funds Market in India Influence of Macroeconomic Indicators on Mutual Funds Market in India KAVITA Research Scholar, Department of Commerce, Punjabi University, Patiala (India) DR. J.S. PASRICHA Professor, Department of Commerce,

More information

Performance Evaluation of Corporate Debt (Tier-I) Scheme of National Pension System. Harish Chander

Performance Evaluation of Corporate Debt (Tier-I) Scheme of National Pension System. Harish Chander Available online at : http://euroasiapub.org/current.php?title=ijrfm Vol. 7 Issue 5, May 2017, pp. 271~283 Thomson Reuters Researcher ID: L-5236-2015 Performance Evaluation of Corporate Debt (Tier-I) Scheme

More information

Journal of Radix International Educational and Research Consortium 1 P a g e

Journal of Radix International Educational and Research Consortium 1 P a g e A Journal of Radix International Educational and Research Consortium RIJEB RADIX INTERNATIONAL JOURNAL OF ECONOMICS & BUSINESS MANAGEMENT NSE- TRADING OF CURRENCY FUTURES POONAM ABSTRACT The introduction

More information

COMPREHENSIVE ANALYSIS OF BANKRUPTCY PREDICTION ON STOCK EXCHANGE OF THAILAND SET 100

COMPREHENSIVE ANALYSIS OF BANKRUPTCY PREDICTION ON STOCK EXCHANGE OF THAILAND SET 100 COMPREHENSIVE ANALYSIS OF BANKRUPTCY PREDICTION ON STOCK EXCHANGE OF THAILAND SET 100 Sasivimol Meeampol Kasetsart University, Thailand fbussas@ku.ac.th Phanthipa Srinammuang Kasetsart University, Thailand

More information

CHAPTER - 5 COMPARATIVE ANALYSIS OF DIVIDEND POLICY

CHAPTER - 5 COMPARATIVE ANALYSIS OF DIVIDEND POLICY CHAPTER - 5 COMPARATIVE ANALYSIS OF DIVIDEND POLICY 67 CONTENT 5.1 Introduction 5.2 Analysis of selected Companies 5.2.1 Dabur India Ltd. 5.2.2 Nestle India Ltd. 5.2.3 Britannia Industries Ltd. 5.2.4 NTPC

More information

TWO WAY FIXED EFFECT OF PRIORITY SECTOR LENDING (SECTOR WISE) ON NON PERFORMING ASSETS OF INDIAN COMMERCIAL BANKS

TWO WAY FIXED EFFECT OF PRIORITY SECTOR LENDING (SECTOR WISE) ON NON PERFORMING ASSETS OF INDIAN COMMERCIAL BANKS TWO WAY FIXED EFFECT OF PRIORITY SECTOR LENDING (SECTOR WISE) ON NON PERFORMING ASSETS OF INDIAN COMMERCIAL BANKS ABSTRACT: Neha Goyal, Dr Rachna Agrawal and Dr.Renu Aggarwal Asst, Professor YMCA UST Faridabad

More information

A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING

A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING Dr. Bernadette D silva Director, K.G. Mittal Institute of Management, I.T & Research, Malad (West), Mumbai- 64, Email: Bernadette.dsilva@gmail.com

More information

Capital Structure Antecedents: A Case of Manufacturing Sector of Pakistan

Capital Structure Antecedents: A Case of Manufacturing Sector of Pakistan Capital Structure Antecedents: A Case of Manufacturing Sector of Pakistan Sajid Iqbal 1, Nadeem Iqbal 2, Najeeb Haider 3, Naveed Ahmad 4 MS Scholars Mohammad Ali Jinnah University, Islamabad, Pakistan

More information

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT The Effect of Dividend Policy on Stock Price Volatility: A Kenyan Perspective Zipporah N. Onsomu Student, MBA (Finance), Bachelor of Commerce, CPA (K),

More information

The effect of Money Supply and Inflation rate on the Performance of National Stock Exchange

The effect of Money Supply and Inflation rate on the Performance of National Stock Exchange The effect of Money Supply and Inflation rate on the Performance of National Stock Exchange Mr. Ch.Sanjeev Research Scholar, Telangana University Dr. K.Aparna Assistant Professor, Telangana University

More information

Trends in Dividend Behaviour of Selected Old Private Sector Banks in India

Trends in Dividend Behaviour of Selected Old Private Sector Banks in India 7 Trends in Dividend Behaviour of Selected Old Private Sector Banks in India Dr. V. Mohanraj, Associate Professor in Commerce, Sri Vasavi College, Erode Dr. S. Sounthiri, Assistant Professor in Commerce

More information

Working Capital and Liquidity Performance of Cement Companies - An Empirical Analysis

Working Capital and Liquidity Performance of Cement Companies - An Empirical Analysis International Journal of Business and Management Invention (IJBMI) ISSN (Online): 2319 8028, ISSN (Print): 2319 801X Volume 7 Issue 8 Ver. I August. 2018 PP 54-60 Working Capital and Liquidity Performance

More information

Volume 35, Issue 1. Thai-Ha Le RMIT University (Vietnam Campus)

Volume 35, Issue 1. Thai-Ha Le RMIT University (Vietnam Campus) Volume 35, Issue 1 Exchange rate determination in Vietnam Thai-Ha Le RMIT University (Vietnam Campus) Abstract This study investigates the determinants of the exchange rate in Vietnam and suggests policy

More information

A Study on the Relationship between Monetary Policy Variables and Stock Market

A Study on the Relationship between Monetary Policy Variables and Stock Market International Journal of Business and Management; Vol. 13, No. 1; 2018 ISSN 1833-3850 E-ISSN 1833-8119 Published by Canadian Center of Science and Education A Study on the Relationship between Monetary

More information

THE IMPACT OF IMPORT ON INFLATION IN NAMIBIA

THE IMPACT OF IMPORT ON INFLATION IN NAMIBIA European Journal of Business, Economics and Accountancy Vol. 5, No. 2, 207 ISSN 2056-608 THE IMPACT OF IMPORT ON INFLATION IN NAMIBIA Mika Munepapa Namibia University of Science and Technology NAMIBIA

More information

Applied Econometrics and International Development. AEID.Vol. 5-3 (2005)

Applied Econometrics and International Development. AEID.Vol. 5-3 (2005) PURCHASING POWER PARITY BASED ON CAPITAL ACCOUNT, EXCHANGE RATE VOLATILITY AND COINTEGRATION: EVIDENCE FROM SOME DEVELOPING COUNTRIES AHMED, Mudabber * Abstract One of the most important and recurrent

More information

ROLE OF FUNDAMENTAL VARIABLES IN EXPLAINING STOCK PRICES: INDIAN FMCG SECTOR EVIDENCE

ROLE OF FUNDAMENTAL VARIABLES IN EXPLAINING STOCK PRICES: INDIAN FMCG SECTOR EVIDENCE ROLE OF FUNDAMENTAL VARIABLES IN EXPLAINING STOCK PRICES: INDIAN FMCG SECTOR EVIDENCE Varun Dawar, Senior Manager - Treasury Max Life Insurance Ltd. Gurgaon, India ABSTRACT The paper attempts to investigate

More information

RE-EXAMINE THE INTER-LINKAGE BETWEEN ECONOMIC GROWTH AND INFLATION:EVIDENCE FROM INDIA

RE-EXAMINE THE INTER-LINKAGE BETWEEN ECONOMIC GROWTH AND INFLATION:EVIDENCE FROM INDIA 6 RE-EXAMINE THE INTER-LINKAGE BETWEEN ECONOMIC GROWTH AND INFLATION:EVIDENCE FROM INDIA Pratiti Singha 1 ABSTRACT The purpose of this study is to investigate the inter-linkage between economic growth

More information

Foreign Direct Investment to Service Sector in India

Foreign Direct Investment to Service Sector in India International Journal of Advances in Management and Economics Available online at www.managementjournal.info ISSN: 2278-3369 RESEARCH ARTICLE Foreign Direct Investment to Service Sector in India Narender

More information

Stock Price Sensitivity

Stock Price Sensitivity CHAPTER 3 Stock Price Sensitivity 3.1 Introduction Estimating the expected return on investments to be made in the stock market is a challenging job before an ordinary investor. Different market models

More information

Chapter-3. Sectoral Composition of Economic Growth and its Major Trends in India

Chapter-3. Sectoral Composition of Economic Growth and its Major Trends in India Chapter-3 Sectoral Composition of Economic Growth and its Major Trends in India This chapter deals with the first objective of the study, that is to evaluate the sectoral composition of economic growth

More information

IMPACT OF FINANCIAL MANAGEMENT ON PROFITABILITY: EVIDENCES FROM TEXTILE SECTOR OF INDIA

IMPACT OF FINANCIAL MANAGEMENT ON PROFITABILITY: EVIDENCES FROM TEXTILE SECTOR OF INDIA DOI: 10.18843/ijcms/v9i1/07 DOI URL: http://dx.doi.org/10.18843/ijcms/v9i1/07 IMPACT OF FINANCIAL MANAGEMENT ON PROFITABILITY: EVIDENCES FROM TEXTILE SECTOR OF INDIA Dr. Ashvin R. Dave, M.B.A., Ph. D.

More information

A Study on Leverage Analysis of Selected Infrastructure Companies in India

A Study on Leverage Analysis of Selected Infrastructure Companies in India A Study on Leverage Analysis of Selected Infrastructure Companies in India Dr. Hasan R. Rana (M.Com, M.Phil, M.B.A, DIM, PGDIM, PGDMM, CWA (Inter), Ph.D) Assistant Professor Shari R.P. Arts, K.B. Commerce

More information

Interrelationship between Profitability, Financial Leverage and Capital Structure of Textile Industry in India Dr. Ruchi Malhotra

Interrelationship between Profitability, Financial Leverage and Capital Structure of Textile Industry in India Dr. Ruchi Malhotra Interrelationship between Profitability, Financial Leverage and Capital Structure of Textile Industry in India Dr. Ruchi Malhotra Assistant Professor, Department of Commerce, Sri Guru Granth Sahib World

More information

THE IMPACT OF CURRENT AND LAGGED STOCK PRICES AND RISK VARIABLES ON PRE AND POST FINANCIAL CRISIS RETURNS IN TOP PERFORMING UAE STOCKS

THE IMPACT OF CURRENT AND LAGGED STOCK PRICES AND RISK VARIABLES ON PRE AND POST FINANCIAL CRISIS RETURNS IN TOP PERFORMING UAE STOCKS International Journal of Economics, Commerce and Management United Kingdom Vol. II, Issue 10, Oct 2014 http://ijecm.co.uk/ ISSN 2348 0386 THE IMPACT OF CURRENT AND LAGGED STOCK PRICES AND RISK VARIABLES

More information

Government Tax Revenue, Expenditure, and Debt in Sri Lanka : A Vector Autoregressive Model Analysis

Government Tax Revenue, Expenditure, and Debt in Sri Lanka : A Vector Autoregressive Model Analysis Government Tax Revenue, Expenditure, and Debt in Sri Lanka : A Vector Autoregressive Model Analysis Introduction Uthajakumar S.S 1 and Selvamalai. T 2 1 Department of Economics, University of Jaffna. 2

More information

GOLD PRICE MOVEMENTS IN INDIA AND GLOBAL MARKET

GOLD PRICE MOVEMENTS IN INDIA AND GLOBAL MARKET 53 GOLD PRICE MOVEMENTS IN INDIA AND GLOBAL MARKET Shaik Saleem, Research Scholar, Department of Management Studies, Sri Venkateswara University, Tirupati, Andhra Pradesh, India. Dr. M. Srinivasa Reddy,

More information

THE IMPACT OF INTEREST RATE AND EXCHANGE RATE TOWARDS INFLATION AT MALAYSIA

THE IMPACT OF INTEREST RATE AND EXCHANGE RATE TOWARDS INFLATION AT MALAYSIA THE IMPACT OF INTEREST RATE AND EXCHANGE RATE TOWARDS INFLATION AT MALAYSIA Hamidah Ramlan 1 Nur Iliyani Binti Mohamed Ruslan Abstract This study investigates which of independent variables have a significant

More information

Research Guru Volume-10 Issue-2(September,2016) (ISSN: X)

Research Guru Volume-10 Issue-2(September,2016) (ISSN: X) Analysis of Profitability of Indian Banks: A Comparative Study of Abstract: Selected Public and Private Banks. Amit K Parmar Asst. Professor Govt. Comm. College Sec.15, Gandhinagar amitbhatera66@gmail.com

More information

Exchange Rate and Economic Performance - A Comparative Study of Developed and Developing Countries

Exchange Rate and Economic Performance - A Comparative Study of Developed and Developing Countries IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X. Volume 8, Issue 1 (Jan. - Feb. 2013), PP 116-121 Exchange Rate and Economic Performance - A Comparative Study of Developed and Developing

More information

Weak Form Efficiency of Gold Prices in the Indian Market

Weak Form Efficiency of Gold Prices in the Indian Market Weak Form Efficiency of Gold Prices in the Indian Market Nikeeta Gupta Assistant Professor Public College Samana, Patiala Dr. Ravi Singla Assistant Professor University School of Applied Management, Punjabi

More information

Analysis of Priority and Non-Priority Sector NPAs of Indian Public Sectors Banks

Analysis of Priority and Non-Priority Sector NPAs of Indian Public Sectors Banks IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668 PP 56-61 www.iosrjournals.org Analysis of Priority and Non-Priority Sector NPAs of Indian Public Sectors Banks Kandela

More information

A study on impact of foreign institutional investor on Indian stock market

A study on impact of foreign institutional investor on Indian stock market International Journal of Commerce and Management Research ISSN: 2455-1627, Impact Factor: RJIF 5.22 www.managejournal.com Volume 2; Issue 11; November 2016; Page No. 91-96 A study on impact of foreign

More information

Statistical Models of Stocks and Bonds. Zachary D Easterling: Department of Economics. The University of Akron

Statistical Models of Stocks and Bonds. Zachary D Easterling: Department of Economics. The University of Akron Statistical Models of Stocks and Bonds Zachary D Easterling: Department of Economics The University of Akron Abstract One of the key ideas in monetary economics is that the prices of investments tend to

More information

An Empirical Study on the Capital Structure Decisions of Select Pharmaceutical Companies in India

An Empirical Study on the Capital Structure Decisions of Select Pharmaceutical Companies in India IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 19, Issue 5. Ver. II (May. 2017), PP 26-30 www.iosrjournals.org An Empirical Study on the Capital Structure

More information

THE EFFECT OF FOREIGN EXCHANGE MARKET RETURNS ON STOCK MARKET PERFORMANCE IN SRI LANKA

THE EFFECT OF FOREIGN EXCHANGE MARKET RETURNS ON STOCK MARKET PERFORMANCE IN SRI LANKA THE EFFECT OF FOREIGN EXCHANGE MARKET RETURNS ON STOCK MARKET PERFORMANCE IN SRI LANKA Perera, M. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Abstract

More information

KEY WORDS: N.P.A. (Non-Performing Assets), SARFAESI, Priority Sector Lending, Asset Classification, Provisioning, Prudential Norms

KEY WORDS: N.P.A. (Non-Performing Assets), SARFAESI, Priority Sector Lending, Asset Classification, Provisioning, Prudential Norms PRIORITY SECTOR & NPA MANAGEMENT LENDING BY THE INDIAN BANKS Abstract The matter of NPA Management as drivers to financial stability in the Banking Sector has been attracting grave concern by the regulators

More information

ASSET AND LIABILITY MANAGEMENT IN BANKS A COMPARATIVE STUDY ON GAP ANALYSIS OF SCBs IN INDIA

ASSET AND LIABILITY MANAGEMENT IN BANKS A COMPARATIVE STUDY ON GAP ANALYSIS OF SCBs IN INDIA ASSET AND LIABILITY MANAGEMENT IN BANKS A COMPARATIVE STUDY ON GAP ANALYSIS OF SCBs IN INDIA S. Prabhakar 1, Dr. S. Mathivannan 2, J. Ashok kumar 3 1, 3 Ph.D. Research Scholar, 2 Associate Professor and

More information

The Effect of Exchange Rate Risk on Stock Returns in Kenya s Listed Financial Institutions

The Effect of Exchange Rate Risk on Stock Returns in Kenya s Listed Financial Institutions The Effect of Exchange Rate Risk on Stock Returns in Kenya s Listed Financial Institutions Loice Koskei School of Business & Economics, Africa International University,.O. Box 1670-30100 Eldoret, Kenya

More information

International Journal of Business and Administration Research Review, Vol. 3, Issue.15, July - Sep, Page 27

International Journal of Business and Administration Research Review, Vol. 3, Issue.15, July - Sep, Page 27 MANAGEMENT OF LIQUIDITY RISK IN THE INDIAN BANKING SECTOR-A CASE STUDY OF UCO BANK Dr. Suprava Sahu Assistant Professor, P.G.Department of Commerce, Ravenshaw University, Cuttack. Abstract Risk Management

More information

Impact of Exports and Imports on USD, EURO, GBP and JPY Exchange Rates in India

Impact of Exports and Imports on USD, EURO, GBP and JPY Exchange Rates in India Impact of Exports and Imports on USD, EURO, GBP and JPY Exchange Rates in India Ms.SavinaA Rebello 1 1 M.E.S College of Arts and Commerce, (India) ABSTRACT The exchange rate has an effect on the trade

More information

Impact of Fdi on Macroeconomic Parameters of Growth and Development : A Post Liberalisation Analysis

Impact of Fdi on Macroeconomic Parameters of Growth and Development : A Post Liberalisation Analysis Research Paper Management Impact of Fdi on Macroeconomic Parameters of Growth and Development : A Post Liberalisation Analysis Dr. Manish Sood ABSTRACT Assistant Professor, Faculty of Humanities and Management,

More information

The Determinants of Capital Structure: Analysis of Non Financial Firms Listed in Karachi Stock Exchange in Pakistan

The Determinants of Capital Structure: Analysis of Non Financial Firms Listed in Karachi Stock Exchange in Pakistan Analysis of Non Financial Firms Listed in Karachi Stock Exchange in Pakistan Introduction The capital structure of a company is a particular combination of debt, equity and other sources of finance that

More information

A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE

A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE J. Gayathiri 1 and Dr. L. Ganesamoorthy 2 1 (Research Scholar, Department of Commerce, Annamalai University,

More information

Profitability Position of Commercial Banks in India - A Comparative Study

Profitability Position of Commercial Banks in India - A Comparative Study IJA MH International Journal on Arts, Management and Humanities 7(1): 10-16(2018) ISSN No. (Online): 2319 5231 Profitability Position of Commercial Banks in India - A Comparative Study Kavita S. Vadrale*

More information

Stock Prices, Foreign Exchange Reserves, and Interest Rates in Emerging and Developing Economies in Asia

Stock Prices, Foreign Exchange Reserves, and Interest Rates in Emerging and Developing Economies in Asia International Journal of Business and Social Science Vol. 7, No. 9; September 2016 Stock Prices, Foreign Exchange Reserves, and Interest Rates in Emerging and Developing Economies in Asia Yutaka Kurihara

More information

Market Approach A. Relationship to Appraisal Principles

Market Approach A. Relationship to Appraisal Principles Market Approach A. Relationship to Appraisal Principles 1. Supply and demand Prices are determined by negotiation between buyers and sellers o Buyers demand side o Sellers supply side At a specific time

More information

Financial Risk Tolerance and the influence of Socio-demographic Characteristics of Retail Investors

Financial Risk Tolerance and the influence of Socio-demographic Characteristics of Retail Investors Financial Risk Tolerance and the influence of Socio-demographic Characteristics of Retail Investors * Ms. R. Suyam Praba Abstract Risk is inevitable in human life. Every investor takes considerable amount

More information

Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study

Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study [VOLUME 5 I ISSUE 4 I OCT. DEC. 2018] e ISSN 2348 1269, Print ISSN 2349-5138 http://ijrar.com/ Cosmos Impact Factor 4.236 Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study Shweta

More information

Linkage between Gold and Crude Oil Spot Markets in India-A Cointegration and Causality Analysis

Linkage between Gold and Crude Oil Spot Markets in India-A Cointegration and Causality Analysis Linkage between Gold and Crude Oil Spot Markets in India-A Cointegration and Causality Analysis Narinder Pal Singh Associate Professor Jagan Institute of Management Studies Rohini Sector -5, Delhi Sugandha

More information

MACROECONOMIC VARIABLE AS DETERMINANTS OF EQUITY PRICE MOVEMENT: IN INDIA

MACROECONOMIC VARIABLE AS DETERMINANTS OF EQUITY PRICE MOVEMENT: IN INDIA MACROECONOMIC VARIABLE AS DETERMINANTS OF EQUITY PRICE MOVEMENT: IN INDIA Ashish Dhar Mishra 1 and Honey Gupta 2 Research Scholar, Dayalbagh Educational Institute, Agra, India Email: 1 ashish.mishra774@gmail.com

More information

International Journal of Business and Administration Research Review, Vol. 3, Issue.12, Oct - Dec, Page 59

International Journal of Business and Administration Research Review, Vol. 3, Issue.12, Oct - Dec, Page 59 PERFORMANCE EVALUATION, COMPARATIVE ANALYSIS AND FACTORS INFLUENCING THE EFFICIENCY OF DISTRICT CENTRAL CO-OPERATIVE BANKS A STUDY WITH REFERENCE TO SOUTHERN STATES OF INDIA Mr.F.Franco authers * Dr.R.Karpagavalli**

More information

Research Article / Survey Paper / Case Study Available online at: Comparative Analysis of Internal Determinants of NPAs: The

Research Article / Survey Paper / Case Study Available online at:   Comparative Analysis of Internal Determinants of NPAs: The ISSN: 2321-7782 (Online) Volume 4, Issue 3, March 2016 International Journal of Advance Research in Computer Science and Management Studies Research Article / Survey Paper / Case Study Available online

More information

Money Demand in India

Money Demand in India MPRA Munich Personal RePEc Archive Money Demand in India Tirupati Basutkar April 2016 Online at https://mpra.ub.uni-muenchen.de/70495/ MPRA Paper No. 70495, posted 5 April 2016 04:29 UTC Money Demand in

More information

Keywords: Monetary Policy, Bank Lending Channel, Foreign Banks.

Keywords: Monetary Policy, Bank Lending Channel, Foreign Banks. Rev. Integr. Bus. Econ. Res. Vol 4(1) 440 Whether the Bank Lending Channel Can Work? Evidence from Foreign Banks in Indonesia 1 Al Muizzuddin Fazaalloh* Brawijaya University almuiz.wang@ub.ac.id Sasongko

More information

FOREIGN INVESTMENT AND EXPORT PERFORMANCE OF INDIAN TEXTILE AND CLOTHING INDUSTRY IN POST QUOTA REGIME

FOREIGN INVESTMENT AND EXPORT PERFORMANCE OF INDIAN TEXTILE AND CLOTHING INDUSTRY IN POST QUOTA REGIME Indian Journal of Economics & Business, Vol. 15, No. 2, (2016) : 385-391 FOREIGN INVESTMENT AND EXPORT PERFORMANCE OF INDIAN TEXTILE AND CLOTHING INDUSTRY IN POST QUOTA REGIME MEETA MATHUR * AND ANITA

More information

THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA International Journal of Economics, Commerce and Management United Kingdom Vol. IV, Issue 6, June 2016 http://ijecm.co.uk/ ISSN 2348 0386 THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

More information

Fundamental Determinants affecting Equity Share Prices of BSE- 200 Companies in India

Fundamental Determinants affecting Equity Share Prices of BSE- 200 Companies in India Fundamental Determinants affecting Equity Share Prices of BSE- 200 Companies in India Abstract Ms. Sunita Sukhija Assistant Professor, JCD Instiute of Business Management, JCDV, SIRSA (Haryana)-125055

More information

Financial Econometrics Series SWP 2011/13. Did the US Macroeconomic Conditions Affect Asian Stock Markets? S. Narayan and P.K.

Financial Econometrics Series SWP 2011/13. Did the US Macroeconomic Conditions Affect Asian Stock Markets? S. Narayan and P.K. Faculty of Business and Law School of Accounting, Economics and Finance Financial Econometrics Series SWP 2011/13 Did the US Macroeconomic Conditions Affect Asian Stock Markets? S. Narayan and P.K. Narayan

More information

Capital structure and its impact on firm performance: A study on Sri Lankan listed manufacturing companies

Capital structure and its impact on firm performance: A study on Sri Lankan listed manufacturing companies Merit Research Journal of Business and Management Vol. 1(2) pp. 037-044, December, 2013 Available online http://www.meritresearchjournals.org/bm/index.htm Copyright 2013 Merit Research Journals Full Length

More information

Impact of Fiscal Policy on the Economy of Pakistan

Impact of Fiscal Policy on the Economy of Pakistan MPRA Munich Personal RePEc Archive Impact of Fiscal Policy on the Economy of Pakistan Muhammad Imtiaz Subhani Iqra University Research Centre (IURC), Iqra university Main Campus Karachi, Pakistan, IQRA

More information

Anshika 1. Abstract. 1. Introduction

Anshika 1. Abstract. 1. Introduction Micro-economic factors affecting stock returns: an empirical study of S&P BSE Bankex companies Abstract Anshika 1 1 Research Scholar, PEC University of Technology, Sector 12, Chandigarh, 160012, India

More information

Causal Relationship between Foreign Exchange Rate and Gold Prices, BSE Index, NSE Index and Oil & Gas Prices in India. Author:

Causal Relationship between Foreign Exchange Rate and Gold Prices, BSE Index, NSE Index and Oil & Gas Prices in India. Author: Research Paper Titled Causal Relationship between Foreign Exchange Rate and Gold Prices, BSE Index, NSE Index and Oil & Gas Prices in India. Author: Dr. Vinod K. Bhatnagar Assistant Professor Prestige

More information

Islamic Banking Vs Conventional Banking in Malaysia

Islamic Banking Vs Conventional Banking in Malaysia International Journal of Business and Management Invention (IJBMI) ISSN (Online): 2319 8028, ISSN (Print): 2319 801X Volume 8 Issue 01 Ver. IV January 2019 PP 34-40 Ashfaq Hameed 1, Tarun Koshy Varghese

More information

A STUDY ON THE PROFITABILITY ANALYSIS OF PRIVATE LIFE INSURERS: A COMPARATIVE STUDY OF ICICI PRUDENTIAL LIFE AND HDFC LIFE MONA JINDAL

A STUDY ON THE PROFITABILITY ANALYSIS OF PRIVATE LIFE INSURERS: A COMPARATIVE STUDY OF ICICI PRUDENTIAL LIFE AND HDFC LIFE MONA JINDAL International Journal of Accounting and Financial Management Research (IJAFMR) ISSN (P): 2249-6882; ISSN (E): 2249-7994 Vol. 7, Issue 3, Jun 2017, 1-6 TJPRC Pvt. Ltd. A STUDY ON THE PROFITABILITY ANALYSIS

More information

The Effects of Liquidity Management on Firm Profitability: Evidence from Sri Lankan Listed Companies

The Effects of Liquidity Management on Firm Profitability: Evidence from Sri Lankan Listed Companies The Effects of Liquidity Management on Firm Profitability: Evidence from Sri Lankan Listed Companies Ravivathani thuraisingam Asst. Lecturer, Department of financial management, Faculty of Management Studies

More information

Financial Performance Analysis of Selected Banks using CAMEL Approach

Financial Performance Analysis of Selected Banks using CAMEL Approach IMR (Indira Management Review) Volume XI, Issue II, December 2017 Financial Performance Analysis of Selected Banks using CAMEL Approach Vijay Hemant Sonaje 1 and Dr. Shriram S. Nerlekar 2 1 Assistant Professor,

More information