Arbitrage Pricing Theory and Return Generating Process: A Macroeconomic Approach to Indian Stock Market

A study focusing on the identification of return generating factors and to the extent of their influence on share prices the outcome will be a tool for investment analysis in the hands of investors portfolio managers and mutual funds who are mostly concerned with changing share prices. Since the study takes into account the influence of macroeconomic variables on variations in share returns by using the outcome the government can frame out suitable policies on long term basis and that will help in nurturing a healthy economy and resultant stock market. As every company management tries to maximize the wealth of the share holders a clear idea about the return generating variables and their influence will help the management to frame various policies to maximize the wealth of the shareholders.

An Integrated Hydro geological Study of the Muvattupuzha River Basin, Kerala, India

The present investigation on the Muvattupuzha river basin is an integrated approach based on hydrogeological, geophysical, hydrogeochemical parameters and the results are interpreted using satellite data. GIS also been used to combine the various spatial and non-spatial data. The salient finding of the present study are accounted below to provide a holistic picture on the groundwaters of the Muvattupuzha river basin. In the Muvattupuzha river basin the groundwaters are drawn from the weathered and fractured zones. The groundwater level fluctuations of the basin from 1992 to 2001 reveal that the water level varies between a minimum of 0.003 m and a maximum of 3.45 m. The groundwater fluctuation is affected by rainfall. Various aquifer parameters like transmissivity, storage coefficient, optimum yield, time for full recovery and specific capacity indices are analyzed. The depth to the bedrock of the basin varies widely from 1.5 to 17 mbgl. A ground water prospective map of phreatic aquifer has been prepared based on thickness of the weathered zone and low resistivity values (<500 ohm-m) and accordingly the basin is classified in three phreatic potential zones as good, moderate and poor. The groundwater of the Muvattupuzha river basin, the pH value ranges from 5.5 to 8.1, in acidic nature. Hydrochemical facies diagram reveals that most of the samples in both the seasons fall in mixing and dissolution facies and a few in static and dynamic natures. Further study is needed on impact of dykes on the occurrence and movement of groundwater, impact of seapages from irrigation canals on the groundwater quality and resources of this basin, and influence of inter-basin transfer of surface water on groundwater.

Trends in Financial Intermediation by the Banking System in Kerala

The study documents the long-term trends in financial intermediation by the principal player in Kerala’s credit system i.e., banking. The process of financial intermediation by the banking system, involving mobilization of deposits from savers and disbursal of credit to investors, is considered to be crucial in the process of economic development. The objective of the study is to explore the interrelationship between financial intermediation and economic growth in Kerala. In order to pursue this objective, the study examine, the trends in intermediation by the banking system in Kerala over a long period, the trend and pattern of bank deposits and credit in the State and Kerala’s economic growth, the trend in the growth and performance of financial intermediaries like the All India Financial Institutions, the links between banking and economic variables, and the difference in the growth trends of banking and economic variables between Kerala and India and the probable reasons for the difference

The Impact of Integrated Marine Fisheries ‘Development Project Among the Artisanal Fishermen in Kerala

Despite various intervensions, artisanal fishermen remain one of the weaker sections in Kerala's society. Host of the welfare and developmental programmes introduced for them had produced very little impact on their living conditions. Further, they are unable to compete with mechanised sector for fishing. Host of the technological development which had taken place after Indo-Norvegean Project favoured the growth of mechanised sector. As a consequence of this, fishing become unviable for artisanal fishermen who propagate the idea of ” sustainable development” in the fishing industry. It is commonly believed that an integrated approach may help them to improve their living conditions substantially. In the light of the above background the scholar has made an attempt to study the impact of Integrated Marine Fisheries Development Project among artisanal fishermen in Kerala It is realised from the findings of the study that the most important needs of artisanal fishermen arecredit facilities and marketing support. Without marketing linkages effective credit management is not possible. Marketing activities and credit management are interdependent