January Effect – A Stock Market Anomaly |
Author : Puneet Kaur Dhingra and Guneet Kaur, Research Scholars, Indian Institute of Foreign Trade, Ministry of Commerce, New Delhi. |
Abstract | Full Text |
Abstract :The stock market has always been a great interest for both companies as well as individuals.
This interest is based on the potential to achieve great profits. There are many possibilities to
earn money in the stock market if one has the right information. The great hurdle in the stock
market is knowledge. When someone possesses the right information, it must be
implemented, and fast! It is always assumed that the stock market is efficient. This means
that when an arbitrage possibility occurs it won’t be there for long, since brokers and
individuals will use it. In this research a particular arbitrage occurrence will be investigated
that has existed in the stock market for many years – The January Effect. The January effect
is a calendar related anomaly in the financial market where financial security prices increase
in the month of January. This creates an opportunity for investors to buy stock for lower
prices before January and sell them after their value increases. Therefore, the main
characteristics of the January Effect are an increase in buying securities before the end of
the year for a lower price, and selling them in January to generate profit from the price
differences. This type of pattern in price behaviour on the financial market supports the fact
that financial markets are not fully efficient. In this research, all the existing claims and beliefs
regarding the January Effect will be tested and analyzed by evaluating the historical data of
representative indices of the stock market. |
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Corporate Governance and Firm Performance: Fundamental Theories |
Author : Sarika Kumar, Research Scholar, Indian Institute of Foreign Trade, New Delh |
Abstract | Full Text |
Abstract :This paper is an attempt to provide an insight into the theoretical foundation of various
corporate governance theories with different findings. Researchers have conducted
empirical studies with different interfaces of corporate governance that leads to better firm
performance and describing an effective and good governance practice based on these
CG theories. Majority of theories has focused on the relationship between shareholders,
management and directors with firm performance. The findings by the researchers were
mixed while analyzing this relationship of shareholders, management and directors with
firm performance. However, in this paper a review on corporate governance theory is
conducted and the foundation of CG theories began with the agency theory, then its
expanded with the introduction of stewardship theory and further evolved to resource
dependency theory and other theories of CG addressing the cause and effect of various
CG variables. This review will be useful to academicians and researchers working in the
area of CG, firm performance |
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WTO: Is There a Need for Reforms? |
Author : Badar Alam Iqbal, Emeritus Professor, Co-Editor-in Chief, Journal of Advances in Management and Information System, Life Science Global, Canada |
Abstract | Full Text |
Abstract :After the end of Second World War; two global forums namely-General Agreement on Tariffs
and Trade (GATT) and United Nations Conference on Trade and Development (UNCTA) were
established. The GATT was called as “rich countries club”, and UNCTAD was known as “poor
countries club”, and they were responsible to regulate the global trade. In order to expand the
role of GATT, on 1 January 1995, GATT was transformed into World Trade Organization. Since
then WTO has been playing a significant and constructive role in the promotion of “multilateral
trading system” for which the WTO was established. But unfortunately, the deadlock in “Doha
Development Round” has raised many questions in regard to the role and contribution of WTO.
The present paper deals with some of the basic issues that are related with the role and
contribution of WTO in sustaining the much needed “Multilateral Trading System” which is in
danger.
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The Flying Geese Model Re-Visited |
Author : Kanupriya, Ph.D. Student of Batch 2016, Indian Institute of Foreign Trade, Delhi |
Abstract | Full Text |
Abstract :This paper is an insight into the famed Flying Geese (FG) Model of economic development. This
theory of growth and development has undergone perceptible alterations since it was first
propounded by Akamatsu. One of the principal contributors to it is none other than Ozawa, who
has sought to add to the FG paradigm the once neglected dynamic structural aspects such as
market reforms, currency valuation, trade and multinationals as market coordinators among
others. Some other important factors for economic growth and development are the financial
factors. Most importantly, this paper seeks to place the Indian economy within the FG framework
for improving the analysis as regards the nature, causes and solutions to the several challenges
before the country today. These trials could range from pollution to poverty and inequality
experienced during the growth process. A broad conclusion of the paper is that for the ‘catch up’
to succeed, some vital structural changes must be effected to the basic economic framework,
without which the FG theory of growth and development comes a cropper. |
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Role of Personal Friendship and Charishma in Foreign Relations |
Author : Saloni Khurana, Research Associate, Indian Institute of Foreign Trade, New Delh |
Abstract | Full Text |
Abstract :One significant aspect neglected while electing the national leaders, is the role of personal
bonds in evolving foreign relations. Friendships among global leaders play an essential role in
negotiating bilateral agreements, receiving aids and supporting at international platforms.
Benefits of personal bonds are evident since historical ties between former US President
Roosevelt and former British PM Churchill to the present connections between Indian PM Modi
and US President Trump. A recent example of global leaders supporting PM Modi’s move on
Jammu and Kashmir reiterated the significance of personal bonding and charisma in foreign
relations.
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Mobile Payments War in India: Bhim V/s Others |
Author : Jayantika Sarwal, Programme Manager II, Microsoft, India |
Abstract | Full Text |
Abstract :Purpose: The purpose of this paper is to analyze the current Indian market situation and study
the virtual on-going payments war. Also, the paper elaborates on the future of mobile payments,
and the impact on domestic players by the influx of global payments providers entering into
Indian markets. The paper also studies the consumer perspective regarding the available ewallets in the market. The data collected from the survey has been analyzed through statistical
analysis and various other data modelings.
Findings: The survey results outlines the below analysis:
• People are apprehensive about the security aspects of the available e-wallets.
• Companies have a long way to go in converting the people to spending / loading more through
e-wallets.
• Due to increased awareness about cyber frauds, private companies are at the radar of
suspicion by the public irrespective of best technology being put in place for the user.
Social Implications: Advocacy of mobile payments technology can help address socio-economic
challenges in India, such as financial inclusion, corruption and tax evasion. On the down side,
with the heightened awareness of cyber frauds and privacy issues in India, m-payment
adoption, which already faces acquisition and retention challenges, is likely to be more resisted
by the consumers if companies doesn’t cater to latter’s apprehensions. The paper also contains
detailed recommendations on the basis of the customer feedback collected through the survey
mentioned above. |
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The Opportunities and Challenges of mHealth Initiatives in India |
Author : By Dheeraj P. Arya, Chief Operating Officer, Venu Eye Institute and Research Centre, New Delhi. |
Abstract | Full Text |
Abstract :India is currently facing a lot of migration from rural to urban areas due to multiple reasons,
among those lack of healthcare facility is one. The existing facilities are not able to cater to the
health care needs of the population living in rural areas, hence a major demand-supply gap is
prevailing in the country. Technological advancements such as mobile based interventions
(mHealth) have been emerging with its advantage as its availability and affordability in the
deepest parts of the country. Using mobile technology offers a tremendous opportunity for
developing countries to advance in health care delivery by effectively utilizing scarce resources.
Customized application as per the need of the beneficiary would yield beneficial outcomes in a
long run |
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