Management Today, Vol.8, No.1, January-March 2018, Publication Information
|
Editorial |
|
|
Vol.8, No.1, January-March 2018, Article:1 |
|
|
Title |
A Study of Socio-Economic and Financial Inclusion Status of Women Domestic Workers in Pune City |
|
Madhavi Kulkarni |
|
|
Affiliation |
Vice Principal and Associate Professor of Commerce, SNDT Arts and Commerce College for Women, Karve Road, Pune-411038, Email: madhaviskulkarni@gmail.com / mkulkarni@collegepune.sndt.ac.in |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.01 |
|
Page Nos. |
1-4 |
|
Keywords |
domestic workers, domestic workers welfare board act, financial inclusion |
|
Abstract |
This paper aims at reviewing Socio-Economic and Financial Inclusion Status of Women Domestic Workers in Pune City. On one hand, the socio-economic status of women domestic workers is one of the hindrances in their financial inclusion; and on the other hand, absence of their financial inclusion is a cause of their inferior socio-economic status. The interdependence of these aspects has many dimensions. The objective of this study is to understand the dynamics among these two factors. The exact data about the number of domestic workers in India is not available. However, the NSDC has identified the unorganized sector in Pune, mainly comprising of the domestic help occupation, as a high growth sector. As per a database of the World Bank, in India, only 26.45% of women hold an account at any financial institution. This gap widens when it comes to women working in unorganized sector. This paper is based on quantitative and qualitative analysis of the primary data collected from the domestic workers in Pune; and the literature review of other similar surveys conducted in India. It aims at identifying the reasons behind the financial non-inclusion of women domestic workers with a view to assisting policy makers in chalking out more effective financial inclusion initiatives for them. |
|
Vol.8, No.1, January-March 2018, Article:2 |
|
|
Title |
Workers' Remittances and Household Consumption Expenditure in Selected South Asian Countries |
|
Authors |
Paulina Mary Godwin Phillip & Thiraviyam Selvamalai |
|
Affiliation |
Dept. of Economics and Management, Vavuniya Campus of the University of Jaffna, Sri Lanka, paulinagodwin73@gmail.com |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.02 |
|
Page Nos. |
5-9 |
|
Keywords |
Remittance, Consumption Expenditure, Fixed Effect and Random Effect Model |
|
Abstract |
The remittance inflow becomes as an important factor for economic development in developing countries especially in South Asian countries. It would affect exchange rate, investment, private consumption, poverty and economic growth, etc. The purpose of this paper is to investigate the impact of workers' remittance inflow on household consumption expenditure in South Asian countries between 1987 and 2016. Study considered Bangladesh, India, Pakistan and Sri Lanka from South Asian region, based on the availability of data. The data of growth rate of remittance inflow and growth rate of household consumption obtained from World Development Indicator, World Bank Database. The study applied multiple linear regression model, Random effect model and fixed effect model to trace out the impact remittance inflow on household consumption expenditure in South Asian region. The multiple linear regression results suggested that growth rate of remittance inflow had a positive and significant impact on household consumption expenditure only in Bangladesh but insignificant impact in India, Pakistan and Sri Lanka. The fixed effect model revealed that remittance inflow had a negative and insignificant impact on household consumption expenditure in South Asian region. But, random effect model revealed that remittance inflow had a positive and insignificant impact on household consumption expenditure in selected South Asian region. Housman Test concluded that random effect model preferred to fixed effect model to explain the impact of workers' remittance on household consumption expenditure in this selected South Asian region. Therefore, this study reports that growth rate of worker's remittance has positive impact but exert no significant influence on growth rate of household consumption expenditure in this region during the study period. |
|
Vol.8, No.1, January-March 2018, Article:3 |
|
|
Title |
|
|
Authors |
Soma Das 1 and Basabi Bhattacharya 2 |
|
Affiliation |
1 Corresponding Author, Ph.D. Research Scholar, Department of Economics, Jadavpur University, Kolkata - 700032, India, E-Mail: itssoma@gmail.com; 2Former Professor, Department of Economics, Jadavpur University, Kolkata-700032, India, E-Mail: basabi54@gmail.com |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.03 |
|
Page Nos. |
10-14 |
|
Keywords |
return and volatility spillover, financial crisis, stock market, EGARCH, diagonal VECH model |
|
Abstract |
The recent global financial crisis of 2007-08 that had originated in the USA, rapidly invaded all over the world and adversely affected the real as well as the financial sectors of many economies. In this backdrop the present study dwells upon the nature of dynamic spillover effects within and across the stock markets of India and US. For this purpose, a sample consisting of the daily return data of BSE SENSEX for India and NASDAQ Composite for US from 2004 to 2013 has been constructed. To study the impact of the financial crisis on the chosen variables three subsamples have been considered, viz., Pre Crisis, In Crisis and Post Crisis. This study applies an EGARCH model to empirically estimate volatility of each return series under an Intra Country structure and a Diagonal VECH model to estimate the same under an Inter Country structure. The empirical findings are analysed and compared considering each market as well as country profile and different phases of the crisis. The study concludes that the financial crisis of 2007 - 08 affected the regular pattern of return and volatility spillover both within and across the markets. However, volatility spillover is found to be more vigorous compared to the return spillover as expected. |
|
Vol.8, No.1, January-March 2018, Article:4 |
|
|
Title |
|
|
Authors |
Somnath Chatterjee |
|
Affiliation |
Assistant Professor, Department of Management and Business Administration, Aliah University, New Town, Kolkata, E-mail: writesomnath@gmail.com |
|
DOI |
|
|
Page Nos. |
15-19 |
|
Keywords |
educational efficiency, DEA, input-output efficiency, mann-whitney U test, sustainability |
|
Abstract |
Sustainability and scalability of business require appropriate strategy and system through accurate allocation and utilization of available resources. Efficiency considers maximization of the output with a given level of input or minimization of the input for a given level of output. This study has been conducted considering the micro level variables, isolated from persuade of macro level factors. A comparative analysis in efficiency among government and private and charitable educational institutions has been conducted with the help of primary data, collected in West Burdwan District, West Bengal. Tim Coelli's DEAP software has been used to test the efficiency through Data Envelopment Analysis with multiple inputs and outputs. An output oriented DEA model has been validated for this study; in government institutions the inputs are limited and thus the possibility to minimize the same is not applicable, hence the output oriented DEA has been postulated. It has been found that there is a considerable inequality in efficiency distribution of educational institutions as measured through data envelopment analysis; it is also found that, the charitable educational institutions are highly efficient, followed by the private and government educational institutions. The different level of efficiency among these three types of institutions has been proven significant with Mann-Whitney U test. The recommended approach in this study confers decision making assistance for institutional policy implication, strategy evaluation and resource allocation. |
|
Vol.8, No.1, January-March 2018, Article:5 |
|
|
Title |
The Effect of Budget Announcement on Sri Lankan Stock Prices |
|
Authors |
Koperunthevy Kalainathan |
|
Affiliation |
Dept. of Finance and Accountancy, Vavuniya Campus of the University of Jaffna, Vavuniya, Sri Lanka, Email: gobi_7003@yahoo.co.uk |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.05 |
|
Page Nos. |
20-23 |
|
Keywords |
budget announcement, AAR, CAAR, all share price index, CSE |
|
Abstract |
The stock prices of a stock market reflect all pertinent information available to investors and other participants. If a stock market is efficient, the stock prices will reflect according to the available information of economic, political and social events. So, in an efficient market stock prices reflect all available information. Therefore, the aim of the study is to find out the effect of budget announcement on Sri Lankan stock prices. The study examines the behavior of Sri Lankan stock price indices in respect of pre and post period of budget announcement. The data were collected from Colombo Stock Exchange (CSE) data base. The collected data includes All Share Price Index (ASPI) and all 20 sectors' stock price indices to examine the pre and post budget announcement effect in the year 2017. The event study method was adopted to examine the market efficiency and pre and post period of 15 day-event window was considered on the first budget speech date at Parliament. The Average Abnormal Return (AAR), the Cumulative Abnormal Return (CAAR) and t-statistic were used to test the market efficiency to budget announcement. CAARs are statistically significant from -1 day to +15 day except +5 day. Further, a negative downward trend is observed on the stock price indices. Therefore, the study concludes that the stock market efficiency level is high and investors can not earn abnormal return in the stock exchange without taking additional risk. |
|
Vol.8, No.1, January-March 2018, Article:6 |
|
|
Title |
|
|
Authors |
Muninarayanappa, M. 1 , Nirmala, M. 2 and Fatin 3 |
|
Affiliation |
1 Professor, Chairman & Dean, Faculty of Commerce & Management, Central College, Bangalore University, Bengaluru-560001, Email ID-drmuninarayan@gmail.com; 2 Associate Professor, Dept. of Management Studies, Canara Bank School of Management Studies, Bangalore University, Bengaluru-560001, Email ID-nirmala.cbsms@gmail.com; 3Research Scholar, Dept. of Commerce, Central College, Bangalore University, Bengaluru-560001, Email ID-fatin_43@yahoo.com. |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.06 |
|
Page Nos. |
24-29 |
|
Keywords |
SIDBI, SMEs, Mezzanine Finance |
|
Abstract |
The SMEs have always been recognised as a significant contributor to the Indian Economy. But at the same time face the problem of access of finance. In the world of globalisation and the growing need of major investments and the need for unconventional forms of financing has elevated. The methodology used in this paper is case study approach. The objectives of the paper are to understand the concept of mezzanine finance and to understand the efforts undertaken by SIDBI which directly open up avenues for unconventional financial sourcing. By resultant discussion we are able to summarise that the efforts taken up by the Government of India and SIDBI have by and large opened all probabilities for the SMEs to see a bright future and adopt to unconventional sources of financing their business than relying only on traditional sources of financing. |
|
Vol.8, No.1, January-March 2018, Article:7 |
|
|
Title |
Impact of Cyber Crimes on Technology Enabled Banking Services |
|
Authors |
Pallavi, E. V. P. A. S. |
|
Affiliation |
Assistant Professor, Department of Management Studies, M V G R College of Engineering (Autonomous), Vijayaram Nagar Campus, Chintalavalasa, Vizianagaram, E-Mail: pallavielisetty@gmail.com |
|
DOI |
|
|
Page Nos. |
30-33 |
|
Keywords |
information technology, cybercrime and technology enabled banking services |
|
Abstract |
Information technology is one of the principal launch pad for the Indian banking industry in terms of its transactions processing as well as for a variety of other internal systems and processes. Now-a - days a variety of technical platforms are available to the banks to carry out of their day to day processes, their approach of reporting the transactions and the way in which interbank transactions and clearing has evolved significantly over the years. The explosion in online transactions growing on technologies like NEFT (National Electronic Fund Transfer), RTGS (Real-time Gross Settlement Systems), ECS (Electronic Clearing Service) and mobile transactions is a indication of technology in banking and financial matters. With the quick growth of computer and internet technologies, new forms of worldwide crimes known as "Cyber Crimes" have evolved in the picture. As the evidence from William duer retail banking is exposed 40% of cyber-attacks. The financial services sector faces specific challenges of its own. Banks are engaged with the decentralization of their services through digitization. Banks and financial institutions are the major targets to the criminals and hackers. Recently we have witnessed Ransomware attack on all the sectors where it has treated as a large cyber-attack on the functionality of all the sectors. This paper focuses on the impact of cybercrimes on banking sector and hoe to prevent such cyber-attacks in future for security. |
|
Vol.8, No.1, January-March 2018, Article:8 |
|
|
Title |
Impact of WPI and IIP on Exchange Rate and International Trade- A Casual Study |
|
Authors |
Vijay Gondaliya 1 and Jaydip Chaudhari 2 |
|
Affiliation |
1 I/c. Director, B. V. Patel Inst. of BMC & IT, Uka Tarsadia University, Bardoli, Gujarat, Email: vijay.gondaliya@utu.ac.in, 2 Professor, Dept. Busi. & Ind. Mgmt., VNSGU, Surat, E-mail: jaydipchaudhari@gmail.com |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.08 |
|
Page Nos. |
34-37 |
|
Keywords |
international trade, exchange rate, WPI, IIP, causality |
|
Abstract |
India is one of the emergent nations in the globe. It is fundamental things for growing economy is maintained the growth of international trade and stability of forex rate. To improve export-import i.e. international trade it is required to have industrial growth (IIP) and other side exchange rate have significant impact with country risk i.e. inflation rate (here we have used WPI as a inflation) to maintain growth of IIP and stability in WPI. With respect to above we try to analyses the impact of WPI and IIP on exchange rate and international trade. To analyze the objective we have used monthly data from April 2012 to November 2017 of WPI, IIP, Export, Import, USD, SDR, Pound sterling and Euro. The result indicates that WPI and IIP have significant impact on Exchange rate and international trade. It has also observed with the help of Granger Causality IIP and WPI is the cause of Export and Import in India. |
|
Vol.8, No.1, January-March 2018, Article:9 |
|
|
Title |
|
|
Authors |
Sharma, J. P. 1 , Sunaina Kanojia 2 and Shasta 3 |
|
Affiliation |
1 Former Head & Dean Department of Commerce, Delhi School of Economics, Director, Institute of Management Studies, Noida; E-mail: jaiprakash2509@gmail.com ; 2Associate Professor, Department of Commerce, Delhi School of Economics, University of Delhi; E-mail: sunainakanojia@gmail.com; 3Assistant Professor, Sri Aurobindo (Morning) College, University of Delhi, E-mail: shasta.gupta20@gmail.com |
|
DOI |
|
|
Page Nos. |
38-48 |
|
Keywords |
companies act, corporate governance, electronic initiatives, shareholders |
|
Abstract |
The phenomenal endeavours undertaken by Ministry of Corporate Affairs like MCA 21 and green initiatives coupled with provisions on electronic voting and acceptance of use of technology in other areas of regulations under Companies Act 2013 have paved the way for electronic corporate governance. This paper attempts to analyze the opinion of shareholders on electronic delivery of documents, electronic voting and, electronic general meetings. Specifically, for electronic delivery of documents, its impact on environment has come out to be insignificant, while level of ease and comfort associated with it and its impact on cost reduction have come out to be the significant variables impacting the opinion of shareholders in favour of electronic mode. For electronic voting, level of ease, no risk of security and no issue of e-votes being less informed have turned out to be the significant variables for the shareholders. For electronic general meetings, their impact on cost reduction and no higher risk of conflicts have been found to be the significant variables influencing the shareholders. Based on qualitative analysis, it has been found that food, vouchers and gifts are the only agenda for the shareholders in the Annual General Meetings. It has been discovered that spreading awareness is quintessential for all the three initiatives. 83.6% of the shareholders themselves have agreed that educating shareholders about various concepts of electronic interface is the need of the hour. |
|
Vol.8, No.1, January-March 2018, Article:10 |
|
|
Title |
|
|
Authors |
Vijita S. Aggarwal 1 and Madhavi Kapoor 2 |
|
Affiliation |
1 Professor Supervisor, vijitasaggarwal@gmail.com; 2Research Scholar, madykapoor.4@gmail.com |
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.10 |
|
Page Nos. |
49-52 |
|
Keywords |
dunning, international joint ventures, oli paradigm, FDI |
|
Abstract |
Objective- The study aims to understand the motives for International Joint Ventures in India with at least one foreign partner in the framework of Dunning's OLI paradigm across industries and timelines. Methodology- The paper is conceptual and uses secondary sources. The list of Joint Ventures is obtained from the S&P BSE 500 listed Indian companies and is cross-industry in nature. Findings- Approximately 200 IJVs are studied through the data available on their websites and other electronic resources. It identifies factor from among ownership, location, and internalisation which was prominent in the formation of the particular joint venture. It identifies motives of IJVs across sectors and timelines. Managerial Implications- The study highlights the trend of important factors of bringing inward FDI in India in the form of International Joint Ventures. Limitations- Since a large sample of 200 companies is taken it is not possible to study each company in great detail. Originality- Few studies have focussed on IJVs from the perspective of Dunning's OLI approach thus the study is original in nature. |
|
Vol.8, No.1, January-March 2018, Article:11 |
|
|
|
Title |
A Gender Based Study on the Impact of Culture in Investment Decision Making |
|
|
Authors |
Mahalakshmi, T.N.1 & Anuradha, N.2 |
|
|
Affiliation |
1Full Time Research Scholar, 2Assistant Professor, Department of Management Studies, B. S. Abdur Rahman Crescent Institute of Science & Technology, Vandalur, Chennai. smpy.maha@gmail.com |
|
|
DOI |
||
|
Page Nos. |
53-56 |
|
|
Keywords |
auspicious day, beliefs, decision making, family influence, gender |
|
|
Abstract |
Purpose: Savings and Investments are a path to overcome uncertainties in the future. Investments has gained its momentum due to increase in the rate of inflation and expectancy of high standard of living among individuals. Investments are considered to be the best alternative, as there is a possibility of capital appreciation and good returns in future. But deciding on when to invest, where to invest, how to invest and how long to invest are the primary focus while making investment decisions. The existence of heterogeneous behavior among individuals leads to behavioral biases creating an impact on decision making and investment performance. Empirical studies on Cultural variables like auspicious day & auspicious time and the influence of Family has been researched very rare. Objective / Methodology: The main objective of the study is to find out the impact of cultural variables like auspicious time and auspicious day and influence of family in the process of decision making. Related literature has been cited through various sources like Journals, articles and newspapers. Findings: The findings of the study reveals the impact of auspicious day and auspicious time as a mediator and the influence of family as a moderating variable in the process of decision making. The Demographic variable gender is found to be influencing the financial decision making process. Implications: The findings of the study will be helpful to the individual investors to know the influence of these variables in the process of decision making. It is helpful to the financial advisors to suggest the best investment alternatives according to the needs of the investors. |
|
|
Vol.8, No.1, January-March 2018, Article:12 |
|
|
|
Title |
Prediction and Impulse of Major Currency Pairs Using VAR Model |
|
|
Authors |
Anjaly, B.1 and Malabika Deo2 |
|
|
Affiliation |
1Research Scholar, Department of commerce, Pondicherry University, anjalyanju777@gmail.com; 2Professor & Head, Department of commerce, Pondicherry University, deo_malavika@yahoo.co.in |
|
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.12 |
|
|
Page Nos. |
57-60 |
|
|
Keywords |
prediction and impulse, major currency pairs, VAR model |
|
|
Abstract |
This paper aims to study the impulse response of major currency pairs and their impulse response of the exchange rates to the dynamic system in response to the external changes. For this the researcher used data of major currency pairs such as USD/JPY, EUR/USD and GBP/USD last 5 years monthly data from 2012 to 2017 September. And the last five years monthly data predicted using VAR Model and the researcher also check the response of the exchange rate to the external change. |
|
|
Vol.8, No.1, January-March 2018, Article:13 |
|
|
|
Title |
Factors influencing share price of listed commercial banks in Sri Lanka |
|
|
Authors |
Lingesiya Kengatharan |
|
|
Affiliation |
Department of Financial Management, University of Jaffna, Sri Lanka, E-Mail ID: lingesiya@univ.jfn.ac.lk |
|
|
DOI |
||
|
Page Nos. |
61-64 |
|
|
Keywords |
earning per share, dividend per share, market capitalization, share price |
|
|
Abstract |
Aim of the study is to examine the factors influencing share prices of listed domestic commercial banks in Sri Lanka. A sample of ten domestic banks have selected to carry out the study for the period 2011 - 2015. Present study considered both internal factors such as earnings per share, dividend per share and bank size and external factors such as interest rate, inflation and exchange rate to investigate the factors influencing on share prices using pooled OLS regression analysis. The results of the study revealed that earnings per share, dividend per share and bank size have significantly positively influenced on share prices of listed domestic banks in Sri Lanka while none of the external factors show any significant influence on share prices of listed commercial banks in Sri Lanka. The findings of the study suggests that investors can make optimum investment decisions in order to maximize their profits and be assured greater returns if they consider these determinants which have evolved to be the substantial contributors to the market price of shares in Sri Lanka. |
|
|
Vol.8, No.1, January-March 2018, Article:14 |
|
|
|
Title |
Impact of Demonetization on Forex and Commodity Derivatives - An Event Study |
|
|
Authors |
Sharafudheen, V. K.1 and Mohammad Irshad, V. K.2 |
|
|
Affiliation |
1Post Graduate Student, 2Ph.D. Research Scholar, Department of Commerce, Pondicherry University |
|
|
DOI |
http://dx.doi.org/10.11127/gmt.2018.03.14 |
|
|
Page Nos. |
65-70 |
|
|
Keywords |
demonetization, event study, foreign exchange market, commodity market, impact analysis. |
|
|
Abstract |
Demonetization is the process of withdrawing legal validity of a currency unit. The government of India announced that this demonetization action would cut down the shadow economy and crack down on the use of illegal and dissimulated cash to fund illegal activities and terrorism. Demonetization in India and last presidential election in the US might be affected Indian foreign exchange market and commodity market simultaneously. This study examines the impact of demonetization announcement on gold futures prices and currency exchange rate of Indian rupee with various currencies. The authors employed event study methodology. The objectives of the study were (a) to measure the expected returns of the selected currencies and commodity futures, in pre and post demonetization, (b) to investigate the impact of demonetization on foreign exchange market and commodity market, (c) to propound a brief knowledge about the concept of demonetization and its consequences. This study considered four currencies to study the impact of demonetization, i.e., US Dollar, Euro, Pound, and Yen. Being the most traded commodity future, it is considered gold futures as a proxy for Indian commodity derivatives market. Finally, this paper could identify that there were not many shocks on forex markets as well as commodity derivatives market from the demonetization announcement. |
|
|
Vol.8, No.1, January-March 2018, Article:15 |
|
|
|
Title |
Currency Demonetisation Announcement and its Reflection on Sectoral Indices of NSE and BSE |
|
|
Authors |
Ajina, K. P.1 and Madan Mohan, G.2 |
|
|
Affiliation |
1Research Scholar, Department of Management Studies, Pondicherry University, E-Mail: ajinaashok123@gmail.com; 2Assistant Professor, Department of Management Studies, Pondicherry University, E-Mail: madansaradha@gmail.com |
|
|
DOI |
||
|
Page Nos. |
71-75 |
|
|
Keywords |
currency demonetisation, sectoral indices, NSE and BSE |
|
|
Abstract |
Stock markets are important parameter reflecting the financial health and economic growth of a nation. Any significant event occurring in the nation will exert an impact on the stock market spontaneously. Government's demonetisation announcement on November 8, 2017, whereby high value currency of Rs. 500 and Rs. 1000 notes were invalidated, is a serious economic event which has attracted many researchers to assess its impact on stock exchanges. This study has made an attempt to assess the impact of demonetisation announcement on sectoral indices of NSE and BSE during short term, medium term and long term, utilising Event Study Methodology. Results of the study has revealed that demonetisation has resulted in negative abnormal returns in both the BSE and NSE. The study approves the fact that demonetisation has come as a surprise and it has exerted a negative impact on the nation's economy in the short run, though it is matter of time before which the nation might limp back to normalcy. |
|
|
Vol.8, No.1, January-March 2018, Article:16 |
|
|
|
Title |
Employee Engagement in Hotels: Comparison between a Four Star and a Five Star Hotel in Kolkata |
|
|
Authors |
Partho Pratim Seal1, Pooja Devija2 and Senthil Kumaran, P.3 |
|
|
Affiliation |
1Research Scholar, Faculty of Tourism & Hotel Management, Pacific Academy of Higher Education and Research University, Udaipur, & Assistant Professor, Welcomgroup Graduate School of Hotel Administration, Manipal Academy of Higher Education, Manipal, 2Associate Professor, (Ph.D. Supervisor) PAHER, Udaipur; 3Associate Professor (Ph.D.Co- Supervisor), Welcomgroup Graduate School of Hotel Administration, Manipal Academy of Higher Education, Manipal. |
|
|
DOI |
||
|
Page Nos. |
76-80 |
|
|
Keywords |
employee, engagement, hotels, Kolkata |
|
|
Abstract |
Employee engagement is the point to which an employee is intellectually and emotionally attached to work and organization. It also reveals the values, commitment and the level of identification an employee has towards the organization. In hotels, employee turnover is high as employees take their jobs as stepping stone for permanent positions. It is therefore important to have an effective method to retain the employees as it effects the quality of the service which is dependent on employees. The paper aims to find the employee engagement across two hotels a five star and a four star hotel in Kolkata and comparing the reasons for high or low employee engagement. Fifty employees working in different levels and different departments were studied at each hotel. It was found that the degree of employee engagement was high in the five star hotel as compared to the four star hotel. The personal characteristics of employee have effect on the perceived employee engagement in the study units. |
|
|
Vol.8, No.1, January-March 2018, Article:17 |
|
|
|
Title |
||
|
Authors |
Prabhu Chari1 and Rose Kavitha2 |
|
|
Affiliation |
1Associate Director-HR, Cognizant Technologies, Keerthanam Village, Coimbatore-641035, E-Mail ID: prabhu.chari@cognizant.com, 2Director-Research, Silicon City College, Bengaluru-650036, arkavithain@yahoo.com |
|
|
DOI |
||
|
Page Nos. |
81-86 |
|
|
Keywords |
federal system, structure, community policing and police policies |
|
|
Abstract |
Human Resource Management (HRM) in Police has the responsibility for identifying, selecting, inducing the competent police personnel, training them, facilitating and monitoring them to perform efficiently. HRM in police is supposed to render direct services to the society and is responsible for protection of members of the society. Police personnel, who are qualified, well trained are motivated are led by competent superiors and these superiors are responsible for development of the present federal structure. The federal structure, system and its sustainability depends completely on superiors and their main duty is to maintain enforcement of law and this can happen only if they have autonomy. Core function of Police Service should be for general public and this can be provided through community policing and they may not serve any political parties except for the Chief Minister. Through exploratory study in this paper it is summed up that the success of police policies is determined by two factors. (a) Governments and top management in police who formulates and determines central and state policies wisely and by (b) Dynamic leadership of line executives both technical and non-technical. A plan of action is designed and discussed to achieve a strong federal system in the long run. Descriptive statistics is used to analyse the data collected though two questionnaires from both public and police and the aim of this research is to bridge the gap between the perceptions of both parties and provide suitable recommendations for the existing system. |
|
|
Vol.8, No.1, January-March 2018, Article:18 |
|
|
|
Title |
||
|
Authors |
Kaushal Kishore |
|
|
Affiliation |
Assistant Professor, School of Petroleum Management (SPM), Pandit Deendayal Petroleum University (PDPU), Gandhinagar, Gujarat. E-mail: Kaushalk206@gmail.com |
|
|
DOI |
||
|
Page Nos. |
87-90 |
|
|
Keywords |
deregulation, liquefied petroleum gas (LPG), energy security, socio-economic impact |
|
|
Abstract |
Energy sector in India is always vibrant and unpredictable. The reasons may be as geopolitical issues, demand-supply mismatch, government's policy and status of the economy etc. Pricing of petroleum products in India is equally interesting due to different demographic setup. The study on deregulation of pricing of Liquefied Petroleum Gas (LPG) is indeed need of the hour to see the overall impact on different sectors. Considering the timeline and availability of resources, a secondary database study was conducted to understand the need of deregulation of pricing of LPG and its impact. The overall finding suggest that the timing of deregulation is right and it will bring positive result for the economy in the long run. |
|
|
Vol.8, No.1, January-March 2018, Article:19 |
|
|
|
Title |
||
|
Authors |
Marry Jessica, V. and Manisha Kumari |
|
|
Affiliation |
E-mail: kmanisha44@gmail.com |
|
|
DOI |
||
|
Page Nos. |
91-94 |
|
|
Keywords |
credit rating, investment, beta ratio, NAV, portfolio turnover, AMC |
|
|
Abstract |
Mutual fund is an investment mechanism, which collects money from investors and invests in diversified area. This is good vehicle for regular investor who doesn't have more knowledge about investment. Objective of this paper is how mutual funds get affected due to downgrade of credit rating. As mutual fund contains diversified portfolio so change in rating of any one company effect whole fund. Mutual fund is rated on the basis of performance of Net Assets Value, Portfolio turnover, risk and return as well as various expenses like Sharpe ratio, Beta ratio etc. Due to downgrade in credit rating NAV decreases, hence fund become risky and interest rate rise. This study provides evidence on the relationship between performance of mutual fund and credit rating. Any change in rating impact the fund. In this paper I explained about the factors that make Credit rating downgrade. As Rating tells about the creditworthiness of the borrower, if borrower having low rating means they are not able to pay principle and interest amount on time. Research methodology I used for this Paper is qualitative research. |
|
|
Vol.8, No.1, January-March 2018, Article:20 |
|
|
|
Title |
Meta-Analysis on Experiential Learning in Management Education |
|
|
Authors |
Shahanaz, D. |
|
|
Affiliation |
Research Scholar, Sri Krishnadevaraya Institute of Management, Email: d.shahanaz5@gmail.com |
|
|
DOI |
||
|
Page Nos. |
95-102 |
|
|
Keywords |
Experiential Learning Techniques, Management Education, Meta-Analysis. |
|
|
Abstract |
Pedagogical reforms are taking place in higher education, of late, where instructional methods are been complemented with experiential learning. To enable active learning of students and develop a 'spirit of enquiry' experiential learning methods are being practiced wherein learners discover and construct knowledge of their own. Among many disciplines in education, management education, due to its applied nature has become more appropriate discipline for the use of experiential learning pedagogies than others with stronger theoretical orientations. In the light of above, the paper makes a humble attempt to review the studies on role of experiential learning in management education. In this attempt, a variety of experiential learning methods, popularly classified as classroom centric and field centric methods are identified and discussed. While conceptual studies endorse the significance of experiential learning methods in management education, the empirical studies vouch positive learning outcomes through experiential learning techniques. The paper also captures serious gaps in previous studies in terms of coverage of issues, scope for application (in different management courses) and geographical context of institutions (where the researches have been carried out). |
|
|
Vol.8, No.1, January-March 2018, Article:21 |
|
|
|
Title |
Pricing of Stock Options using Black-Scholes, Black's and Binomial Option Pricing Models |
|
|
Authors |
Felcy R Coelho1 and Y V Reddy2 |
|
|
Affiliation |
1Assistant Professor, Department of Commerce, S.S.Dempo College of Commerce & Economics, Cujira, Goa and Research Scholar, Department of Commerce, Goa University, Goa, India. E-mail: felcycoelho@gmail.com; 2Professor, Department of Commerce; and Registrar, Goa University, Taleigao Plateau, Goa 403206, India and is the corresponding author. E-mail: yvreddy@unigoa.ac.in |
|
|
DOI |
||
|
Page Nos. |
103-108 |
|
|
Keywords |
option pricing, black & scholes, binomial, call option |
|
|
Abstract |
Derivative products are very important for developing the financial sector and generating economic growth. Among all the financial derivative products the most commonly used product is Options. Valuation of Options is very crucial in the modern financial industry. Most popular and largely accepted model for pricing options in the modern time is the model given by Black-Scholes. The present study attempts to examine whether the Black-Scholes, Black's and Binomial model is suitable for pricing call options on Indian stocks for five stocks selected from Financial Services Index of Nifty. Paired samples T-test results indicate that there exists a difference between the calculated prices using the three models and the market prices which is significant for four out of five cases while when the model prices calculated using three models and prices prevailing in the market were compared for HDFC Bank Ltd. stock no significant difference was found. The three models have effectively priced the call option premium of HDFC Bank Ltd. For all the five call options on stocks it was found that the models have underestimated option premium. |
|
|
Vol.8, No.1, January-March 2018, Article:22s |
|
|
|
Title |
||
|
Authors |
Irshad Nazeer1 and Dula Babu, T.2 |
|
|
Affiliation |
1Associate Professor, Dept. of Management, Presidency College, Kempapura, Hebbal, Bengaluru, Karnataka 560024; 2Professor & Area Chair - General Management, Alliance School of Business, Alliance University, Chikkahagade Cross, Chandapura - Anekal Main Road, Anekal, Bangalore-562106, E-Mail: tdbabu17@rediffmail.com |
|
|
DOI |
||
|
Page Nos. |
109-118 |
|
|
Keywords |
design thinking, wicked problem, design pedagogy, management education |
|
|
Abstract |
Business environment is more complex and turbulent in nature. Every day the intensity of complexity is increasing and a lot of ambiguity is being faced by the decision makers. The skill set being imparted is not sufficient on the part of the management graduates to cope up with the deadly uncertain situations. This research paper enunciates the need of inclusion of design thinking in the curriculum of business education to improve the performance of the graduates in business organization and also the author articulates that effective teaching of design thinking brings innovativeness for the business schools on one hand and brand building on the other. |
|
Management Today