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Sinha, Pankaj
- Palaeocurrent Analysis of the Siwaliks of Panjab, Haryana and Himachal Pradesh
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Authors
Affiliations
1 Department of Geology & Geophysics, University of Roorkee, Roorkee, U. P., IN
1 Department of Geology & Geophysics, University of Roorkee, Roorkee, U. P., IN
Source
Journal of Geological Society of India (Online archive from Vol 1 to Vol 78), Vol 16, No 3 (1975), Pagination: 337-348Abstract
The present paper deals with a study of thickness of cross-bedding units and palaeocurrents as deduced from cross-bedding foreset dip azimuths of the Siwaliks of Panjab, Haryana and Himachal Pradesh. All the three sub-divisions of the Siwaliks-Lower, Middle and Upper exhibit mainly southerly palaeocurrent directions and the variance of cross-bedding foreset dip azimuths seems to decrease from the Lower to Upper Siwaliks. Consistent southerly paleocurrent direction in the Upper Siwaliks suggests that they were probably deposited in a single continuous basin instead of two separate basins.
- Competition and Market Power of Microfinance Institutions in India
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Authors
Nitin Navin
1,
Pankaj Sinha
1
Affiliations
1 University of Delhi, Delhi, IN
1 University of Delhi, Delhi, IN
Source
The Microfinance Review, Vol 11, No 2 (2019), Pagination: 1-19Abstract
This study aims to analyse the competition in the microfinance sector in India by measuring the market power of Microfinance Institutions (MFIs). Furthermore, it attempts to examine the factors responsible for the observed market power of the MFIs. The study uses unbalanced panel data sample of 127 MFIs of different legal status and size for the period 2005-2016. The data source is the Microfinance Information Exchange (MIX). Lerner index is employed to measure the market power of MFIs. The study finds a moderate increase in the competition level in the microfinance sector. The study does not find evidence of exploitation of clients by large MFIs holding a dominant position in the sector. They are mainly small and Non-Governmental Organisation- type MFIs which are earning higher mark-ups than large MFIs. The findings of the study provide crucial insights into the working of MFIs that would help policymakers to take the necessary steps to nurture healthy competition in the microfinance sector. This study is first of its kind which explicitly focuses on the market structure of the Indian microfinance sector.Keywords
Microfinance, Indian Microfinance Sector, Market Power, Lerner Index.References
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- Forecasting Fund Flows in Indian Equity Mutual Funds Market using Time Series Analysis: An Empirical Investigation
Abstract Views :352 |
PDF Views:273
Authors
Affiliations
1 Ph.D. Research Scholar, Faculty of Management Studies, University of Delhi, Delhi-110007, IN
2 Professor, Faculty of Management Studies, University of Delhi, Delhi-110007, IN
1 Ph.D. Research Scholar, Faculty of Management Studies, University of Delhi, Delhi-110007, IN
2 Professor, Faculty of Management Studies, University of Delhi, Delhi-110007, IN
Source
Journal of Business Thought, Vol 12, No 0 (2021), Pagination: 1-17Abstract
Mutual Funds are the second most preferred financial investment option in India amongst households, corporate and private investors alike. Managed funds bring with them the expertise of fund managers along with the benefits of diversification and lower costs. The sensitivity of fund flows defines the ability of the fund manager in offering expected future returns. Mutual fund flows exhibit time series characteristics, it being financial data collected at regular intervals over a time period. This paper studies the dynamics of mutual fund flows by utilising time series regression modelling. Monthly fund flows data for a sample of 142 equity open-ended growth orientation across major marketcap categories – Large Cap, Large and Mid Cap, Multi Cap, Mid Cap, and Small Cap have been analysed using ARIMA Modelling in the R software package. Appropriate lag length and the presence of a unit ischolar_main have been investigated with the help of established techniques coupled with suitable checks of robustness. Model of best fit has been used to forecast monthly fund flows for a lag length of 60. Our study leads us to two major outcomes. One, unlike many developed and emerging markets, fund flows in the chosen sample do not confirm to positive feedback trading hypothesis. This lends credible support to the absence of irrational exuberance in mutual fund investments. Second, equity-based funds in Large Cap, Large and Mid Cap, and Multi Cap category exhibit strong trend component while funds in Mid Cap and Small Cap category have a strong random component. Beginner investors can take advantage of alpha offered by fund managers possessing effective market -timing skills, an indicator of trend-investing strategy. Funds belonging to these categories are also lesser prone to market volatility in comparison to Mid Cap and Small Cap funds, being more suitable for experienced investors.Keywords
Fund Flows, Feedback-Trading, Time Series, ARIMA Modelling, Forecasting.
JEL classification: C23, G12, G23
Full Text
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- Chebyshev’s inequality - Wikipedia