Pub Date : 2023-11-30DOI: 10.54105/ijef.a2541.113223
Rithvik Kammili
The Indian fast-moving consumer goods (FMCG) sector plays a crucial role in the country's economy, experiencing strong growth and catering to the needs of its vast population. This research aims to conduct a close examination of the Indian FMCG sector using technical analysis techniques in order to identify patterns, trends, and potential investment opportunities. Using a quantitative approach, this study employs various technical indicators and chart patterns to assess the price and volume movements of FMCG sector stocks listed on Indian stock exchanges. Historical price data and trading volumes are collected and analyzed to identify recurring patterns and trends that can assist investors in making well-informed decisions. The study covers a time period between 26/04/2021 to 02/06/2021, allowing for a comprehensive evaluation of the FMCG sector's performance and behaviour. Few technical analysis tools such as moving averages convergence and divergence (MACD), relative strength index (RSI), on balance volume (OBV), and trendlines are utilized. By applying these techniques, the study aims to identify potential signals for buying and selling, levels of support and resistance, and price targets within the Indian FMCG sector. Additionally, the research explores the impact of market trends, economic factors, and industry-specific events on the sector's performance. The findings of this study contribute to the existing knowledge in technical analysis and provide valuable insights for investors and traders interested in the Indian FMCG sector. The results enhance understanding of the sector's price movements, volatility, and potential investment opportunities, enabling market participants to develop effective trading strategies and risk management approaches. It is important to note that this study solely focuses on the technical analysis of the Indian FMCG sector and does not consider fundamental analysis or qualitative factors that may influence investment decisions. Therefore, readers are encouraged to combine the findings of this study with additional research and analysis before making investment choices.
{"title":"A Study on Technical Analaysis of Indian FMCG Sector","authors":"Rithvik Kammili","doi":"10.54105/ijef.a2541.113223","DOIUrl":"https://doi.org/10.54105/ijef.a2541.113223","url":null,"abstract":"The Indian fast-moving consumer goods (FMCG) sector plays a crucial role in the country's economy, experiencing strong growth and catering to the needs of its vast population. This research aims to conduct a close examination of the Indian FMCG sector using technical analysis techniques in order to identify patterns, trends, and potential investment opportunities. Using a quantitative approach, this study employs various technical indicators and chart patterns to assess the price and volume movements of FMCG sector stocks listed on Indian stock exchanges. Historical price data and trading volumes are collected and analyzed to identify recurring patterns and trends that can assist investors in making well-informed decisions. The study covers a time period between 26/04/2021 to 02/06/2021, allowing for a comprehensive evaluation of the FMCG sector's performance and behaviour. Few technical analysis tools such as moving averages convergence and divergence (MACD), relative strength index (RSI), on balance volume (OBV), and trendlines are utilized. By applying these techniques, the study aims to identify potential signals for buying and selling, levels of support and resistance, and price targets within the Indian FMCG sector. Additionally, the research explores the impact of market trends, economic factors, and industry-specific events on the sector's performance. The findings of this study contribute to the existing knowledge in technical analysis and provide valuable insights for investors and traders interested in the Indian FMCG sector. The results enhance understanding of the sector's price movements, volatility, and potential investment opportunities, enabling market participants to develop effective trading strategies and risk management approaches. It is important to note that this study solely focuses on the technical analysis of the Indian FMCG sector and does not consider fundamental analysis or qualitative factors that may influence investment decisions. Therefore, readers are encouraged to combine the findings of this study with additional research and analysis before making investment choices.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":" 98","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139207252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.54105/ijef.c2514.053123
Vaishnavi Deshpande
In financial management, Leverage is the key decision area. Leverage constitutes the Degree of Operating Leverage, Degree of Financial Leverage and Degree of Combined Leverage. In this paper, the relationship between Leverage and Profitability has been discussed. For the purpose of this study, data of financial year (FY) 2020 has been considered. About 10 companies in the food industry which are listed in the Bombay Stock Exchange have been chosen for this study. An exploratory form of research design is used which is based on the secondary data. The data was collected from the annual reports of the chosen companies. The data collected has been analyzed by using the regression tool. The main aim of this study is to analyse the performance of the 10 companies, chosen.
{"title":"A Study on Relationship Between Leverage and Profitability – A Case of Food Industries in India","authors":"Vaishnavi Deshpande","doi":"10.54105/ijef.c2514.053123","DOIUrl":"https://doi.org/10.54105/ijef.c2514.053123","url":null,"abstract":"In financial management, Leverage is the key decision area. Leverage constitutes the Degree of Operating Leverage, Degree of Financial Leverage and Degree of Combined Leverage. In this paper, the relationship between Leverage and Profitability has been discussed. For the purpose of this study, data of financial year (FY) 2020 has been considered. About 10 companies in the food industry which are listed in the Bombay Stock Exchange have been chosen for this study. An exploratory form of research design is used which is based on the secondary data. The data was collected from the annual reports of the chosen companies. The data collected has been analyzed by using the regression tool. The main aim of this study is to analyse the performance of the 10 companies, chosen.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"968 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139204977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.54105/ijef.b2546.113223
Mohammad Jazzar
The study aims to test the impact of financial leasing on the financial performance of financial leasing institutions in Palestine during the period between 2015 and 2021, the study examines the prospects and obstacles of financial leasing in Palestine. in an attempt to show the regulations of financial leasing in enhancing financial performance indicators represented by the rate of return on deposits, rate of return on ownership, rate of return on investment and rate of return on available assets. Financial leasing is a contract finance agreement that allows companies to sell goods, such as medical equipment, vehicles, and machinery, without having to pay the full price of the purchased goods. These regulations form Capital Market Authority (CAM) in Palestine that provides access to goods and services that maybe it is expensive to purchase. However, there are several obstacles to the growth of financial leasing in Palestine, including the lack of roles and regulations, the limited of supplying leasing products, and the lack of access to finance the contracts. The study concludes that while financial leasing can provide businesses in Palestine with the necessary financing to obtain the required goods and services, the current lack of a regulatory environment and the limited access to financing and leasing products are major obstacles to its growth. The purpose of the study is to find out the obstacles of financial leasing in Palestine, to understand the potential for this type of financing, and to the challenges that must be overcome for it to become more widely available. The paper begins by providing an overview of financial leasing and its benefits in Palestine. It then discusses the major obstacles to the growth of financial leasing in Palestine, including the lack of regulations and laws, the limited supply of leasing products, and the lack of access to financing. Finally, the paper outlines potential solutions for overcoming these obstacles and promoting the growth of financial leasing in Palestine. The study intends to analyze the influence of financial leasing on the financial performance of Palestinian financial leasing institutions between 2015 and 2021. It also examines the opportunities and challenges of financial leasing in Palestine. to demonstrate the regulations of financial leasing in improving financial performance measures such as the rate of return on deposits, rate of return on ownership, rate of return on investment, and rate of return on available assets. Financial leasing is a type of contract finance agreement that allows businesses to sell things like medical equipment, automobiles, and machinery without having to pay the full purchase price. In Palestine, these regulations create the Capital Market Authority (CAM) [1], which gives access to goods.
{"title":"Financial leasing in Palestine “Prospects & Obstacle”","authors":"Mohammad Jazzar","doi":"10.54105/ijef.b2546.113223","DOIUrl":"https://doi.org/10.54105/ijef.b2546.113223","url":null,"abstract":"The study aims to test the impact of financial leasing on the financial performance of financial leasing institutions in Palestine during the period between 2015 and 2021, the study examines the prospects and obstacles of financial leasing in Palestine. in an attempt to show the regulations of financial leasing in enhancing financial performance indicators represented by the rate of return on deposits, rate of return on ownership, rate of return on investment and rate of return on available assets. Financial leasing is a contract finance agreement that allows companies to sell goods, such as medical equipment, vehicles, and machinery, without having to pay the full price of the purchased goods. These regulations form Capital Market Authority (CAM) in Palestine that provides access to goods and services that maybe it is expensive to purchase. However, there are several obstacles to the growth of financial leasing in Palestine, including the lack of roles and regulations, the limited of supplying leasing products, and the lack of access to finance the contracts. The study concludes that while financial leasing can provide businesses in Palestine with the necessary financing to obtain the required goods and services, the current lack of a regulatory environment and the limited access to financing and leasing products are major obstacles to its growth. The purpose of the study is to find out the obstacles of financial leasing in Palestine, to understand the potential for this type of financing, and to the challenges that must be overcome for it to become more widely available. The paper begins by providing an overview of financial leasing and its benefits in Palestine. It then discusses the major obstacles to the growth of financial leasing in Palestine, including the lack of regulations and laws, the limited supply of leasing products, and the lack of access to financing. Finally, the paper outlines potential solutions for overcoming these obstacles and promoting the growth of financial leasing in Palestine. The study intends to analyze the influence of financial leasing on the financial performance of Palestinian financial leasing institutions between 2015 and 2021. It also examines the opportunities and challenges of financial leasing in Palestine. to demonstrate the regulations of financial leasing in improving financial performance measures such as the rate of return on deposits, rate of return on ownership, rate of return on investment, and rate of return on available assets. Financial leasing is a type of contract finance agreement that allows businesses to sell things like medical equipment, automobiles, and machinery without having to pay the full purchase price. In Palestine, these regulations create the Capital Market Authority (CAM) [1], which gives access to goods.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"233 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139205074","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.54105/ijef.b2555.113223
Ephraim Lewis, Dr. Nyanjige Mayala, Prof. Evans Ogoti
This study aimed to assess the contribution of recording of accounting data on the performance of selected supermarkets in Moshi Municipality, Tanzania. This study was guided by the Records Continuum Theory, (1990s). The study used cross- sectional survey under quantitative approach method in assessing the accounting records in SMEs. It used a population of 150 small and medium businesses of supermarkets which are mainly registered to operate in Moshi Municipality area settings. The sample size was 100 small supermarkets, which was determined by using Slovin’s formula. A simple random sampling technique was used to get respondents who were the managers, accountants /cashiers and storekeepers using two instruments; which were interview schedule and questionnaires. The interview schedule was for the managers and the questionnaires for accountants/cashiers and storekeepers. In ensuring validity of the research instruments, the researcher presented the questionnaires and the interview schedule to university experts for scrutiny and suggestion on their validity, relevance, clarity and suitability of the information contained. To establish the reliability and internal consistency of the research instruments, pilot testing was done with the help of Cronbach Alpha. The result of the Cronbach Alpha test was 0.749 of the reliability value, which indicated, that the tool (questionnaires) were reliable for the study. The study collected only primary data, and the quantitative data generated were analyzed using descriptive statistics which included percentages, frequency counts, mean and standard deviation, and data were presented using tables. The findings of the study showed that, recording of accounting data contributes to business performance between businesses (supermarkets). Based on the findings, it was concluded that, business enterprises especially supermarkets’ performance is highly contributed by properly recording of accounting data, as indicated by the grand mean value of 4.20 which is above average of 3; and its standard deviation of 0.90. It was therefore recommended that SMEs should practice recording of accounting and maintain their financial records simple and consistent depending on the type of the businesses. Education background of the accountants and storekeepers should be taking into consideration as the more they are educated, the more they reduce recording errors of the transactions; which will help to maintain constant financial performance. Authorities should decide and put into force some rules and regulations for any business, regardless of its size to perform recording of accounting of its activities because through the keeping of records; the business will maintain and increase its revenues and consequently the profits. This is because the authorities collect its taxes from the profits of these business enterprises.
{"title":"Contribution of Recording of Accounting Data on The Performance of the Selected Supermarkets in Moshi Municipality, Tanzania","authors":"Ephraim Lewis, Dr. Nyanjige Mayala, Prof. Evans Ogoti","doi":"10.54105/ijef.b2555.113223","DOIUrl":"https://doi.org/10.54105/ijef.b2555.113223","url":null,"abstract":"This study aimed to assess the contribution of recording of accounting data on the performance of selected supermarkets in Moshi Municipality, Tanzania. This study was guided by the Records Continuum Theory, (1990s). The study used cross- sectional survey under quantitative approach method in assessing the accounting records in SMEs. It used a population of 150 small and medium businesses of supermarkets which are mainly registered to operate in Moshi Municipality area settings. The sample size was 100 small supermarkets, which was determined by using Slovin’s formula. A simple random sampling technique was used to get respondents who were the managers, accountants /cashiers and storekeepers using two instruments; which were interview schedule and questionnaires. The interview schedule was for the managers and the questionnaires for accountants/cashiers and storekeepers. In ensuring validity of the research instruments, the researcher presented the questionnaires and the interview schedule to university experts for scrutiny and suggestion on their validity, relevance, clarity and suitability of the information contained. To establish the reliability and internal consistency of the research instruments, pilot testing was done with the help of Cronbach Alpha. The result of the Cronbach Alpha test was 0.749 of the reliability value, which indicated, that the tool (questionnaires) were reliable for the study. The study collected only primary data, and the quantitative data generated were analyzed using descriptive statistics which included percentages, frequency counts, mean and standard deviation, and data were presented using tables. The findings of the study showed that, recording of accounting data contributes to business performance between businesses (supermarkets). Based on the findings, it was concluded that, business enterprises especially supermarkets’ performance is highly contributed by properly recording of accounting data, as indicated by the grand mean value of 4.20 which is above average of 3; and its standard deviation of 0.90. It was therefore recommended that SMEs should practice recording of accounting and maintain their financial records simple and consistent depending on the type of the businesses. Education background of the accountants and storekeepers should be taking into consideration as the more they are educated, the more they reduce recording errors of the transactions; which will help to maintain constant financial performance. Authorities should decide and put into force some rules and regulations for any business, regardless of its size to perform recording of accounting of its activities because through the keeping of records; the business will maintain and increase its revenues and consequently the profits. This is because the authorities collect its taxes from the profits of these business enterprises.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"22 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139197038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-30DOI: 10.54105/ijef.a2542.053123
Avi Modi, Vaibhav Kesarani
With the introduction of the digital fintech ecosystem in India, there has been a paradigm shift in traditional banking practices, one of which is the complex and time-consuming lending procedure in India. With the popularization of digital credit, lending has become more accessible to the general public and has catered to the demands of the larger population who could not access this service in the past. Although this is a booming industry with an estimated size of 270 billion dollars in the year 2022 itself, India's regulatory framework cannot keep pace with this sector's growth. It has been a concern for both the industry and the customers. The present paper examines the current regulatory regime governing digital credit in India with a special focus on the RBI Guidelines on Digital Lending, 2022, and provides a comparative analysis of the regime with foreign laws. The paper also provides for the regulatory gap in these laws in India and attempts to provide suggestions to make the law more efficient and effective. The study utilizes a doctrinal research approach, which involves an extensive review of the literature and analysis of the regulatory framework in India and foreign countries and highlights the challenges faced by the digital lending industry of India. Furthermore, this study's findings have significant implications for policymakers, digital lending platforms, and consumers in India.
{"title":"Digital Lending Laws in India and Beyond: Scrutinizing the Regulatory Blind Spot","authors":"Avi Modi, Vaibhav Kesarani","doi":"10.54105/ijef.a2542.053123","DOIUrl":"https://doi.org/10.54105/ijef.a2542.053123","url":null,"abstract":"With the introduction of the digital fintech ecosystem in India, there has been a paradigm shift in traditional banking practices, one of which is the complex and time-consuming lending procedure in India. With the popularization of digital credit, lending has become more accessible to the general public and has catered to the demands of the larger population who could not access this service in the past. Although this is a booming industry with an estimated size of 270 billion dollars in the year 2022 itself, India's regulatory framework cannot keep pace with this sector's growth. It has been a concern for both the industry and the customers. The present paper examines the current regulatory regime governing digital credit in India with a special focus on the RBI Guidelines on Digital Lending, 2022, and provides a comparative analysis of the regime with foreign laws. The paper also provides for the regulatory gap in these laws in India and attempts to provide suggestions to make the law more efficient and effective. The study utilizes a doctrinal research approach, which involves an extensive review of the literature and analysis of the regulatory framework in India and foreign countries and highlights the challenges faced by the digital lending industry of India. Furthermore, this study's findings have significant implications for policymakers, digital lending platforms, and consumers in India.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"108 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128681375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-30DOI: 10.54105/ijef.b2526.112222
S. Ravichandran, Mandira Roy
Climate change (CC) is a burning issue in the contemporary situation. All nations should be concerned about this, and it must be addressed right away. Additionally, greater funding is required to discourse this issue. Green finance becomes a global issue in sustainable economic and financial growth. Green finance refers to the financial arrangements that are specifically used to fund ecologically viable plans or projects that incorporate the features of climate change. Member nations of the Kyoto Protocol, which was endorsed on December 11, 1997, gave it a top priority. These initiatives fall under the categories of "green financing," "waste processing and recycling," "biodiversity protection," "climate change adaptation," etc. In addition to helping India and poor nations to achieve the Sustainable Development Goals (SDGs), green financing may help them raise money to fulfill their Nationally Determined Contribution (NDC) obligations under the Paris Agreement. Greening the industry through finance will lead to eco-sound results, ultimately leading to the green growth of the nations. Different countries can adopt green financing in a variety of methods and with varying legislation. In India, CSR was deemed necessary for NBFCs and SCBs by 2007. NAPCC was established in 2008 to adopt and mitigate the climate change policy. In the Union Budget of 2022, Finance Minister has announced the issuance of sovereign green bonds during the upcoming fiscal year. SGBs could potentially mobilize additional financial resources to support India's commitment to achieving net-zero carbon emissions by 2070. The issuance of sovereign green bonds is a baby step toward directing private capital flows toward environmentally beneficial public projects. Other government programs aimed at preventing climate change and developing a low-carbon economy may receive funding from green financing.
{"title":"Green Finance: A Key to Fight with Climate Change","authors":"S. Ravichandran, Mandira Roy","doi":"10.54105/ijef.b2526.112222","DOIUrl":"https://doi.org/10.54105/ijef.b2526.112222","url":null,"abstract":"Climate change (CC) is a burning issue in the contemporary situation. All nations should be concerned about this, and it must be addressed right away. Additionally, greater funding is required to discourse this issue. Green finance becomes a global issue in sustainable economic and financial growth. Green finance refers to the financial arrangements that are specifically used to fund ecologically viable plans or projects that incorporate the features of climate change. Member nations of the Kyoto Protocol, which was endorsed on December 11, 1997, gave it a top priority. These initiatives fall under the categories of \"green financing,\" \"waste processing and recycling,\" \"biodiversity protection,\" \"climate change adaptation,\" etc. In addition to helping India and poor nations to achieve the Sustainable Development Goals (SDGs), green financing may help them raise money to fulfill their Nationally Determined Contribution (NDC) obligations under the Paris Agreement. Greening the industry through finance will lead to eco-sound results, ultimately leading to the green growth of the nations. Different countries can adopt green financing in a variety of methods and with varying legislation. In India, CSR was deemed necessary for NBFCs and SCBs by 2007. NAPCC was established in 2008 to adopt and mitigate the climate change policy. In the Union Budget of 2022, Finance Minister has announced the issuance of sovereign green bonds during the upcoming fiscal year. SGBs could potentially mobilize additional financial resources to support India's commitment to achieving net-zero carbon emissions by 2070. The issuance of sovereign green bonds is a baby step toward directing private capital flows toward environmentally beneficial public projects. Other government programs aimed at preventing climate change and developing a low-carbon economy may receive funding from green financing.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"190 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116786569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-30DOI: 10.54105/ijef.b2533.112222
Ms. Jessica Maria Anthony, Shri Ramesh Kr. Gupta., Ms. Sona Chinngaihlian
Gold remains a dynamic investment tool in many economies and is considered a safe- haven during times of crises. The sheer size of the US economy and hence any monetary policy decisions have implications for the global economy and global assets. Since commodities are priced in the US dollar, transmission of shocks to asset prices is bound to happen as investors rebalance portfolio. Now, the direction of movement in gold prices depends on other factors as well. Against this backdrop, we examine the impact of US monetary policy on gold prices in India and try to examine how monetary policy announcements during the pandemic by the Fed has influenced domestic gold prices. Further, we investigate the determinants of domestic gold prices using an ARDL model and find that prices have moved closely with global economic policy uncertainty, thereby demonstrating its safe haven feature and have risen with domestic CPI inflation, thus proving to be an inflation hedge. Thus, the study is expected to upgrade the understanding on the behaviour of investors towards gold, and information processing under uncertainty. JEL Classification: G10, G15.
{"title":"The Impact of Advanced Economy Monetary Policy on Gold Price Dynamics in India","authors":"Ms. Jessica Maria Anthony, Shri Ramesh Kr. Gupta., Ms. Sona Chinngaihlian","doi":"10.54105/ijef.b2533.112222","DOIUrl":"https://doi.org/10.54105/ijef.b2533.112222","url":null,"abstract":"Gold remains a dynamic investment tool in many economies and is considered a safe- haven during times of crises. The sheer size of the US economy and hence any monetary policy decisions have implications for the global economy and global assets. Since commodities are priced in the US dollar, transmission of shocks to asset prices is bound to happen as investors rebalance portfolio. Now, the direction of movement in gold prices depends on other factors as well. Against this backdrop, we examine the impact of US monetary policy on gold prices in India and try to examine how monetary policy announcements during the pandemic by the Fed has influenced domestic gold prices. Further, we investigate the determinants of domestic gold prices using an ARDL model and find that prices have moved closely with global economic policy uncertainty, thereby demonstrating its safe haven feature and have risen with domestic CPI inflation, thus proving to be an inflation hedge. Thus, the study is expected to upgrade the understanding on the behaviour of investors towards gold, and information processing under uncertainty. JEL Classification: G10, G15.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"2021 19","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132678547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-30DOI: 10.54105/ijef.b2523.112222
U. Ranamagar, Nabajyoti Upadhyaya
This paper deals with remittance and the economic growth of Nepal. Remittance is a significant source of the Nepalese economy. It is one of the critical sectors, and it has directly related to the immigration of people. This study aims to identify the relationship between Nepal's migration, remittance, and the economic growth. This paper is based on secondary sources of information. The Granger causality test examines the causality between remittance and economic growth of Nepal. The result of the Granger causality test shows that both the Nepalese people's entry and exit from the country are significant for the economic growth of Nepal. The remittance received from migrated people is significant for the economic growth of Nepal. The contribution of remittance to GDP has increased, and the poverty level has decreased over the years. The education sector has improved, and the development level is gradually increasing. Therefore, there is an urgent need for policies with a high priority on national interests for managing international migration (both emigration and immigration) and remittance. This implies that the policy maker should implement an appropriate policy to invest in capital formation. It may be conducive to the economic growth of Nepal.
{"title":"Remittances and Economic Growth: A Causality Analysis for Nepal","authors":"U. Ranamagar, Nabajyoti Upadhyaya","doi":"10.54105/ijef.b2523.112222","DOIUrl":"https://doi.org/10.54105/ijef.b2523.112222","url":null,"abstract":"This paper deals with remittance and the economic growth of Nepal. Remittance is a significant source of the Nepalese economy. It is one of the critical sectors, and it has directly related to the immigration of people. This study aims to identify the relationship between Nepal's migration, remittance, and the economic growth. This paper is based on secondary sources of information. The Granger causality test examines the causality between remittance and economic growth of Nepal. The result of the Granger causality test shows that both the Nepalese people's entry and exit from the country are significant for the economic growth of Nepal. The remittance received from migrated people is significant for the economic growth of Nepal. The contribution of remittance to GDP has increased, and the poverty level has decreased over the years. The education sector has improved, and the development level is gradually increasing. Therefore, there is an urgent need for policies with a high priority on national interests for managing international migration (both emigration and immigration) and remittance. This implies that the policy maker should implement an appropriate policy to invest in capital formation. It may be conducive to the economic growth of Nepal.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116754945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-30DOI: 10.54105/ijef.b2531.112222
Amit Rohilla
In a first of its kind, this paper tries to explore the relationship between investors sentiment and BSE Sensex return over the period January 2010 to December 2021 and under different market and economic conditions. Design/Methodology/Approach: The paper uses 32 market and macroeconomic variables as proxy to the investor sentiment. Principal component analysis has been used and the first 11 principal components with eigenvalue more than 1, have been selected to create investor sentiment sub-indices. Weighted/generalized least squares (GLS) method has been used to achieve the objectives of the study. Findings: We find that the impact of sentiment was significantly positive on portfolio return over the period of study. Furter, the slope of fivesentiment sub-indices increased in the boom period and the slope of two sub-indices increased significantly in the bull period. Research Implications: Findings of the study are helpful for retail investors, policy makers and other decision makers in the Indian stock market. Results are helpful for retail investors as guidelines for decision making and; also, they learn about the association between sentiment and portfolio return under different economic and market conditions. Originality/Value: The study contributes to the existing literature by exploring the relationship of sentiment and portfolio return in the Indian stock marketover different economic and market conditions.
{"title":"Impact of Investor Sentiment on Portfolio Return - Do Economic and Market Conditions Matter?","authors":"Amit Rohilla","doi":"10.54105/ijef.b2531.112222","DOIUrl":"https://doi.org/10.54105/ijef.b2531.112222","url":null,"abstract":"In a first of its kind, this paper tries to explore the relationship between investors sentiment and BSE Sensex return over the period January 2010 to December 2021 and under different market and economic conditions. Design/Methodology/Approach: The paper uses 32 market and macroeconomic variables as proxy to the investor sentiment. Principal component analysis has been used and the first 11 principal components with eigenvalue more than 1, have been selected to create investor sentiment sub-indices. Weighted/generalized least squares (GLS) method has been used to achieve the objectives of the study. Findings: We find that the impact of sentiment was significantly positive on portfolio return over the period of study. Furter, the slope of fivesentiment sub-indices increased in the boom period and the slope of two sub-indices increased significantly in the bull period. Research Implications: Findings of the study are helpful for retail investors, policy makers and other decision makers in the Indian stock market. Results are helpful for retail investors as guidelines for decision making and; also, they learn about the association between sentiment and portfolio return under different economic and market conditions. Originality/Value: The study contributes to the existing literature by exploring the relationship of sentiment and portfolio return in the Indian stock marketover different economic and market conditions.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122070296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-30DOI: 10.54105/ijef.b2530.112222
D. N.
Precipitation is an economic indicator for the Indian economy. Because more than half of the Indian population is engaged in agriculture, and they depend on rainfall for their farming activities, along with farming, other sectors like manufacturing, transportation, banking, construction, and others are directly or indirectly affected by rainfall. The proposed study attempts to establish a relationship between the changes in rainfall and the GDP growth rate. The study demonstrates the opportunity and feasibility of introducing rainfall index-based derivatives in the Indian weather risk market. The study considered the average annual rainfall data of all 36 meteorological subdivisions and the GDP annual growth rate for the period from 1961 to 2020. The study performed simple correlation and regression with the SPSS software. The results of the correlation matrix show that there is a positive relationship between the selected two variables. According to the regression analysis, rainfall has a significant positive effect on India's GDP growth rate. This result shows that there is a need for rainfall index based derivatives in the Indian weather risk market to absorb the rainfall risk. The purpose of this paper is to suggest a new kind of versatile tool to overcome the rainfall risk. Rainfall risk is covered by traditional insurance, index insurance, and reinsurance. However, all of them failed to effectively manage the rainfall risk. So, right now, rainfall derivatives are needed to make a full-fledged rainfall risk market.
{"title":"Comparison of Rainfall and GDP: A Feasibility Study on Introducing Rainfall Derivatives in the Indian Weather Risk Market","authors":"D. N.","doi":"10.54105/ijef.b2530.112222","DOIUrl":"https://doi.org/10.54105/ijef.b2530.112222","url":null,"abstract":"Precipitation is an economic indicator for the Indian economy. Because more than half of the Indian population is engaged in agriculture, and they depend on rainfall for their farming activities, along with farming, other sectors like manufacturing, transportation, banking, construction, and others are directly or indirectly affected by rainfall. The proposed study attempts to establish a relationship between the changes in rainfall and the GDP growth rate. The study demonstrates the opportunity and feasibility of introducing rainfall index-based derivatives in the Indian weather risk market. The study considered the average annual rainfall data of all 36 meteorological subdivisions and the GDP annual growth rate for the period from 1961 to 2020. The study performed simple correlation and regression with the SPSS software. The results of the correlation matrix show that there is a positive relationship between the selected two variables. According to the regression analysis, rainfall has a significant positive effect on India's GDP growth rate. This result shows that there is a need for rainfall index based derivatives in the Indian weather risk market to absorb the rainfall risk. The purpose of this paper is to suggest a new kind of versatile tool to overcome the rainfall risk. Rainfall risk is covered by traditional insurance, index insurance, and reinsurance. However, all of them failed to effectively manage the rainfall risk. So, right now, rainfall derivatives are needed to make a full-fledged rainfall risk market.","PeriodicalId":371660,"journal":{"name":"Indian Journal of Economics and Finance","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127735815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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