The Influence of Macroeconomic Variables on the Stock Market Performance
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The purpose of the study is to empirically analyze the influence of the macroeconomic indicators on India's stock market performance. The macroeconomic variables considered are inflation, interest rate, money supply, industrial production, and exchange rates in India. The study covers the period from April 2005 to April 2021. The ADF test has been employed to explore the stationarity of the variables, and the ARDL methodology has been administered to unearth the association between the macroeconomic variables and stock market return. The study found that industrial production, interest rate, and exchange rate have long term negative relationship with stock return. More specifically, the exchange rate has a significant impact on the stock market performance. At the same time, inflation exhibits a negative short-term relationship with the stock market return. Though money supply has a positive relationship, the magnitude is insignificant.
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Anjaly B,
Malabika Deo,
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Second Moment Spillover Across Stock and Indian Forex Market During Covid-19 Pandemic
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This paper explored the second moment spillover across stock market (domestic & foreign) and Indian Foreign Exchange market (INR/USD, INR/GBP & INR/JPY) with three data frames labelled: Full Period (April 2, 2014, to March 31, 2021), Pre-Covid Period (April 2, 2014, to January 29, 2020) & Post-Covid Period (January 20, 2020, to March 31, 2021) by deploying Diebold & Yilmaz (2012) method. The empirical results insinuate that there is low connectedness across foreign (S&P 500; FTSE 100) and Indian Forex market except in case of Nikkei 225 which disappear in pre-covid period but inflate in post-covid period with moderate connectedness. Similarly, low connectedness across domestic stock market & Indian Forex market is experienced except in case of INR/JPY rate. Furthermore, in the context of own inducement, each series has shown high spillover which gradually decrease in post-covid period but in contrast, inducement from stock to forex market has increased except in case of CNX Nifty & INR/GBP. This empirical evidence expounds the presence of contagion effect across both the markets.
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Anjali Yadav,
Dhananjay Sahu,
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Redefining Tectonic Start-Ups in India during Pandemic Time
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Start-up as India's economy grows, so will the contribution of private equity and venture capital to the overall economy. It is also a fair acknowledgment of unique requirements that these kinds of businesses need to maintain their business operations, which require innovation and size. Further, adding that some of the outstanding start-up country like India is adopting technology to transformation areas such as healthcare and wellness sector, education sector, agriculture and ailed sector, clean energy, security, financial inclusion and exclusion, and water management. The spirit of start-ups boosts up the next generation economies and as the one stop solution of fortunes of people in rural India and thieving economy. The Startup and Stand-up missions can help the youth upgrade their skills to become entrepreneurs. With Gig work gaining ground, the deserving candidates can get lucrative offers for their services. The article addresses the issues and problems that start-ups in India confront. The startup Eco-system is closely watching the Indian business climate and critically assessing how much help is required from the Indian government, with their new Digital India initiatives.
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Durga Madhab Mahapatra,
Sukanta Kumar Baral,
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Job Satisfaction Factors among College Teachers: An Empirical Investigation
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Human resources are one of the most vital resources of a country, as it exploits the natural environments for the entire population. The importance and significance of various aspects of development scientific and technological, economic, and social, to name a few can be evaluated on a criterion of their utility and service for the welfare of human being. All the aspects of development in the ultimate analysis are or should be aids to human development. The development is not just about factories dams and roads. Development is basically about people. The goal is people’s material, cultural and spiritual fulfilment. Job satisfaction is solitary of the largely extensively discussed issue in organizational performance and human resource management. In the present study, an effort has been made to identify the major factors affecting the job satisfaction among the college teachers. The researchers identified 25 job satisfaction items through extensive literature review. The perceptions of the respondents were collected through structured questionnaire based on 5-point Likert scale. Exploratory factor analysis was done to explore the factors. The Cronbach’s alpha (0.870) confirms the internal consistency of the instrument. The KMO Measure of Sampling Adequacy is 0.798, indicating the present data is suitable for factor analysis. Similarly, Bartlett’s Test of Sphericity is significant (p<0.001) indicating significant correlation exists between the variables to proceed with the factor analysis. The study explored 7 factors having eigen value of more than 1 and explaining 77.078% of the total variance. Further, independent sample t-test is applied to find whether there exists any difference in overall satisfaction with respect to various demographic variables of the respondents. It was found that significant difference exists only with Sector and Education of the respondents. Moreover, age, gender and income bear no impact on job satisfaction.
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Chinmoy Kumar Roy,
Ashish Kant Chaudhari,
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Effect of E-Banking on Financial Inclusion in Nepal
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The study examines the effect of electronic banking on financial inclusion in Nepal. Financial inclusion is the dependent variable. The selected independent variables are automated teller machine, point of sale terminal, internet banking, mobile banking, and agency banking. The primary source of data is used to assess the opinions of the respondents regarding the financial inclusion and electronic banking. The study is based on primary data of 150 respondents. To achieve the purpose of the study, structured questionnaire is prepared. The regression models are estimated to test the significance and importance of electronic banking on financial inclusion in Nepal. The study showed that automated teller machine has a positive impact on financial inclusion. It indicates that increase in number of automated teller machines leads to increase in financial inclusion. Similarly, mobile banking has a positive impact on financial inclusion. It indicates that better orientation towards mobile banking leads to increase in financial inclusion. Likewise, internet banking has a positive impact on financial inclusion. It indicates that better orientation towards the internet banking leads to increase in financial inclusion. Furthermore, agency banking has a positive impact on financial inclusion indicating that increase in agency banking leads to increase in financial inclusion. Lastly, point of sale has a positive impact on financial inclusion. It indicates that better orientation towards point-of-sale services leads to increase in financial inclusion.
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Radhe Shyam Pradhan,
Poshan Dahal,
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Sustainable Tourism – A Comprehensive Measure for Counteracting Climate Change
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Climate change or global warming has become the matter of discussion around the world. There are a variety of reasons that contribute to the climate change. It is the human activity that has pushed our globe towards this vulnerable situation. Trees have been cut on large scale the past three decades to improve the infrastructure and to accommodate the huge growing population. Industrial growth is another reason for this climate change as pollution is created by the industrial wastage. Plastic usage, hydrocarbon emissions and increase in vehicles have also brought negative impacts on the environment. Now-a-days experts argue that tourism also contributes to the negative impact of the environment as the stakeholders like tourists, local people, private and public tourism business owners deviate from their responsible behavior.
This study is going to address the aim of identifying the major causative agents that contributes towards climate change and the strategies that can be identified in the mitigation of the negative impacts of these causative agents. The methodology adopted for this study is area sampling. Both descriptive and analytics is used in the study by the researcher. The research approaches like quantitative and qualitative techniques are used.
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C. Shanthi Marie,
Sampad Kumar Swain,
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Determinants of Foreign Trade in Nepal
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This study examines the determinants of foreign trade in Nepal. Exports and imports of Nepal are the dependent variables. The selected independent variables are GDP of Nepal, GDP of trading partners, real effective exchange rate, distance, regional economic integration, per capita GDP of Nepal, per capital GDP of trading partners, economic freedom of Nepal and economic freedom of trading partners. The study is based on secondary data of 21 trading partners of Nepal with 210 observations for the period of 2010 to 2019. The data are collected from the Direction of Trade Statistics (DOTS) dataset of International Monetary Fund (IMF), World Development Indicator database of World Bank, CEPII gravity data set and the Heritage Foundation. The regression models are estimated to test the impact of various variables on the exports and imports of Nepal. The study showed that GDP of Nepal has a positive impact on exports of Nepal. It indicates that increase in GDP of Nepal leads to increase in exports of Nepal. Similarly, GDP of trading partners has a positive impact on exports. It indicates that increase in GDP of trading partners leads to increase in exports of Nepal. Likewise, distance has a negative impact on exports. It indicates that greater the distance with the trading countries, lower would be the exports of Nepal to those trading partners. Moreover, real effective exchange rate has a positive impact on exports. It indicates that increase in real effective exchange rate leads to increase in exports. In addition, SAFTA membership has a positive impact on exports. It indicates that SAFTA membership leads to increase in exports of Nepal. Furthermore, the study revealed that economic freedom index of trading partners has a positive impact on exports. It indicates that increase in economic freedom index of trading partners leads to increase in exports of Nepal. In addition, the study shows that GDP of Nepal has a positive impact on imports of Nepal. It indicates that increase in GDP of Nepal leads to increase in imports of Nepal. Similarly, GDP of trading partners has a positive impact on imports. It indicates that increase in GDP of trading partners leads to increase in imports of Nepal. Likewise, distance has a negative impact on imports. It indicates that greater the distance with the trading countries, lower would be the imports of Nepal from those trading partners. Similarly, real effective exchange rate has a positive impact on imports. It indicates that increase in real effective exchange rate leads to increase in imports. The study also reveals that GDP per capita differential has a positive impact on imports. It indicates that higher the GDP per capita differential, higher would be the imports of Nepal.
Keywords: GDP, trading partners, real effective exchange rate, distance, regional economic integration, SAFTA, OECD, per capita GDP, and economic freedom index
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Nar Bahadur Bista,
Khagendra Adhikari,
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Determination of Key Success Factors for Winning Achievement of Indian Insurers: A PCA Approach
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In today’s economy, the service sector is one of the important sectors which are contributing more to the GDP and the insurance sector is one among them. Here, the study is an attempt to identify the factors which are crucial for the success Indian Insurance Industry. Now a days it became necessary for identifying the critical success factors for the Indian Insurance industry because it provides value in giving due focus to a limited set of factors which are deemed to be the most critical for an organization. CSFs are used by organizations to give focus on several factors that help to define its success and these factors will help the organization and its personnel to understand the key areas in which to invest their resources and time. The study uses both primary and secondary data and from both public and private companies and the Statistical tools such as descriptive statistics, factor analysis and PCA for analyses the data. Finally, this study found out some selected prominent factors responsible for the success of Indian Insurance Industry by using PCA technique. The findings so drawn from the study can be used by the Indian insurers and as well as foreign insurers and provide the scope for further research with different Socio-economic environment.
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Puspalata Mahapatra,
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Sustainable Entrepreneurship Development and Poverty Eradication
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Eradication of extreme poverty, access to sufficient and nutritious food by 2030 for all the people in this planet, promoting sustainable industries, etc., are some of the important goals of the United Nation’s 17 Sustainable Development Goals (SDG) which were adopted in 2015. Sustainable entrepreneurship development, to large extent, will help to achieve these goals. The main purpose of the study is to find out the elements of sustainable entrepreneurship and develop a new model of it; to examine the relationships between (a) ‘the entrepreneurship development and the condition of poverty’ and (b) ‘the sustainable development movement and higher economic growth’. The present paper is both conceptual and descriptive in nature and based on secondary data. Apart from the reports of various institutions like World Economic Forum, United Nations, World Bank, FAO, newspapers, etc., research articles which are published in journals have also been considered. Spearman correlation test is conducted to find out the relationship between variables. While there is weak inverse relationship between ‘the entrepreneurship development and the condition of poverty’, there is moderate positive relationship between ‘the sustainable development movement and higher economic growth’. The findings would through a light on the existing concept of sustainable entrepreneurship and its role in achieving SDGs. The model’s sustainable entrepreneurship has been developed by various scholars; however, a new revised model is developed in the line of SDGs in the present paper.
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Ayekpam Ibemcha Chanu,
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