Fundamental Approach to Valuation of Securities -A Study with reference to Information Technology(IT) Sector Shares in Indian Stock Market

Department of Applied Economics,Cochin University of Science and Technology

Economics of Ornamental Fisheries in Kerala

Comprehensive studies integrating production, consumption and marketing of ornamental fishes were never conducted in the past in Kerala and this study is an attempt to highlight the dynamics in a systematic manner by making a primary empirical study. The advantages of such an approach are many. First, the study entails detailed empirical data under a given time frame on various inter linked economic activities in ornamental fisheries sector. Second, the study tries to improve upon the previous discipline-bound studies by adopting an integrated approach. As Kerala has diverse ecological and climatic conditions, case studies on various ornamental fish production systems help identifying suitable culture practice for selected environmental conditions. One of the major conclusions of this study as explained in the concluding chapter is that although Kerala is blessed with favourable geographic and climatic conditions needed for developing ornamental fishery, diverse local conditions and requirements contain adopting modern methods of enterprise development.Consumer studies conducted would help to identify the demand of ornamental fishes and the factors leading to it. Market studies would help in understanding the forces behind domestic market, which is very promising, but neglected. Viability studies throw light on the economic performance of both the production systems and the trading units of ornamental fishes. Despite the economic significance of ornamental fisheries industry, its development has been constrained due to various bio-technical, cultural, socio-economic, organisational and above all, institutional and policy failures. The outcome of the study would identify constraints facing the industry and institutional arrangements for development.

Market Orientation in Indian Seafood Processing Firms

This thesis studied the impact of market orietnation on business performance, in the seafood industry, which is a unique situation wherein the firms were all 100% export oriented. The study was able to prove that in the context of the seafood indsutry, implementation of market orientation principles will lead to increase in business performance. The business performance variables were measured under two heads, namely economic performance and non-economic performance. Market orientation in Indian seafood firms was significantly and postiively related to both the performance measures. Under the non-economic performance, were the customer and employee consequences.Again market orientation was positively and significantly related to both the consequences.Thus, the implication arising from the study is this: market orientation in Indian seafood processing firms increases their business performance. The implementation of market orientation will help the seafood firms in gaining competitve advantages in exporting. This in turn will result in increased exports and the position of Indian seafood in the global market will be strengthened. It will thus become a leading player in the global fish trade. Next, the focus was on the effect of the antecedents on the market orientation of a firm. It was seen that several factors were antecedents to the adoption of market orientation principles. They include top management emphasis, conflict, centralization and reward system. It is noted that top management emphasis and support is vital to the market orientation programme. The top management needs to adopt market oriented behaviour and reinforce the need for being market oriented, for it to percolate down the line.Interdepartmental conflict is seen to affect market orientation positively. A large percent of the Indian seafood firms are traditionally family-owned companies, rather than professionally managed firms. This would result in promulgation of old ideas of management whereby, conflict was seen as a healthy exercise, which helped to build up each department's efficiency. But, this view in the long run proves to be detrimental to the firm's performance and must therefore be kept to a bare minimum, if any.Decentralisation of decision making facilitates the participation of the lower level employees and builds up their motivational levels and commitment to the firm. Thus employees are encouraged to make their own decisions, so that they can deal with customers faster and more efficiently. Reward systems help improve an employee's morale, provide encouragement and helps inculcate commitment and loyalty. It improves the employee's self worth and fulfills his need for achievement. A satisfied employee works better, produces more output and needs less supervision, and is happy, thereby reducing costs to the company for replacement and retraining, if the employee quits.Competitive intensity plays a moderating role on the market orientation business performance. Thus in times of greater competition, the relationship between market orientation and business performance grows stronger. Thus, this thesis was successful in investigating a positive relationship between business performance and market orientation.

Market Segmentation by Financial lnstitution

The research problem selected for this study is one of the important issues in the field of financial market and its marketing dimensions on which researchers and academicians encourage more research studies. This research study may be relevant considering its significance in terms of some possible findings which may be useful to Fls in framing successful market segmentation approach to turn their dissatisfied and ‘merely' satisfied customers into ‘delighted’ customers, which in turn can result in better savings mobilisation. The household segments may also be benefited from the research findings if they bring about an attitudinal change in their savings behaviour. The importance of the study may be briefly highlighted in the following points. The research study examines existing theories on market segmentation by Fls and the findings might supplement the existing theories on this topic. The study brings to light certain clues to strengthen market segmentation approach of Fls.The study throws light on the existing beliefs and perceptions on customer behaviour which may be useful in effecting some positive changes in market segmentation approach by Fls. The study suggests certain relationship between market segmentation variables and customer behaviour in the context of marketing of financial products by Fls. The study supplements the existing knowledge on different dimension of market segmentation in the financial market which might encourage future research in the field.

Prevalence of Aeromonas hydrophila in fish and prawns from the seafood market of Coimbatore, South India

Five hundred and thirty six samples offishes and 278 prawn samples from the major fish market ofCoimbatore, South India, were analysed for the prevalence of Aeromonas hydrophila over a period of2 years (June 1997–May 1999). The prevalence level of A. hydrophila varied from 17.62% in prawns to 33.58% in fishes. More than 30% of the popular table fishes such as Sardinella longiceps, Rastrelliger kanagurta, Mugil cephalus and Caranx sexfasciatus were tested positive for this organism. Among the different species of the prawns analysed, Penaeus semisulcatus showed higher incidence (23.52%). Seasonal variation in the prevalence levels of A. hydrophila in fish and prawns revealed a higher prevalence during the monsoon season during 1997–98 and 1998–99. Of the different body parts of the fishes analysed for A. hydrophila, the intestinal samples showed higher prevalence (38.43%), followed by body surface (32.46%) and gill (29.10%). Considering the psychrotrophic nature and role of A. hydrophila as a pathogen ofemerging importance, the considerably high levels ofthis organism in a popular food item such as fish and prawn raises serious concern

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.

Organized Retail Market Boom and the Indian Society

IT and related services played a major role for India’s current 9.2. GDP growth. Organized retailing in India is one more example for its open economy. The IT industries where able develop a demand for Indian talents all over the world and improved their living standards. It directly impacts only a small minority of Indian population while organized retail affects every single Indian and every sector of Indian society. The paper gives a glimpse of the slow evolution of retail market over the years in India and its contribution for economic growth. The likely positive impact of this revolution in different sectors is enumerated. Paper addresses its ability to manipulate consumption pattern of society, increased customer satisfaction and likely change in the market shares of the different types of sellers. Paper discusses its flip sides like increasing social tension among families below poverty line and greater loss of self employment opportunities by this revolution. The main theme of enquiry of this paper is what it all means for the Indian society.

Econometrics as an Academic Discipline in Higher Education: An Exploratory Study of the Need, Relevance and Significance

Econometrics is a young science. It developed during the twentieth century in the mid-1930’s, primarily after the World War II. Econometrics is the unification of statistical analysis, economic theory and mathematics. The history of econometrics can be traced to the use of statistical and mathematics analysis in economics. The most prominent contributions during the initial period can be seen in the works of Tinbergen and Frisch, and also that of Haavelmo in the 1940's through the mid 1950's. Right from the rudimentary application of statistics to economic data, like the use of laws of error through the development of least squares by Legendre, Laplace, and Gauss, the discipline of econometrics has later on witnessed the applied works done by Edge worth and Mitchell. A very significant mile stone in its evolution has been the work of Tinbergen, Frisch, and Haavelmo in their development of multiple regression and correlation analysis. They used these techniques to test different economic theories using time series data. In spite of the fact that some predictions based on econometric methodology might have gone wrong, the sound scientific nature of the discipline cannot be ignored by anyone. This is reflected in the economic rationale underlying any econometric model, statistical and mathematical reasoning for the various inferences drawn etc. The relevance of econometrics as an academic discipline assumes high significance in the above context. Because of the inter-disciplinary nature of econometrics (which is a unification of Economics, Statistics and Mathematics), the subject can be taught at all these broad areas, not-withstanding the fact that most often Economics students alone are offered this subject as those of other disciplines might not have adequate Economics background to understand the subject. In fact, even for technical courses (like Engineering), business management courses (like MBA), professional accountancy courses etc. econometrics is quite relevant. More relevant is the case of research students of various social sciences, commerce and management. In the ongoing scenario of globalization and economic deregulation, there is the need to give added thrust to the academic discipline of econometrics in higher education, across various social science streams, commerce, management, professional accountancy etc. Accordingly, the analytical ability of the students can be sharpened and their ability to look into the socio-economic problems with a mathematical approach can be improved, and enabling them to derive scientific inferences and solutions to such problems. The utmost significance of hands-own practical training on the use of computer-based econometric packages, especially at the post-graduate and research levels need to be pointed out here. Mere learning of the econometric methodology or the underlying theories alone would not have much practical utility for the students in their future career, whether in academics, industry, or in practice This paper seeks to trace the historical development of econometrics and study the current status of econometrics as an academic discipline in higher education. Besides, the paper looks into the problems faced by the teachers in teaching econometrics, and those of students in learning the subject including effective application of the methodology in real life situations. Accordingly, the paper offers some meaningful suggestions for effective teaching of econometrics in higher education

Real Estate Development In India And The Behavior of Investors to Invest In The Real Estate Market: An Empirical Investigation

This study examines the behavioral factors that influence the Indian Investors to invest in the Real Estate Market. Among the various factors that affect the tendency of investors to invest in the real market, certain factors are greatly influenced the investors at greatest extend while others at least level. From this study it is revealed that motivation from the real estate developers and brokers (mean value- 3.46) is most influencing factor and happening of uncertain events (mean value- 1.75) is the least factor that influences the investors’ investment behavior. In this study, the behavioral factor like over confidence and the hypotheses regarding education, religion were analyzed and found that religious factor influences the Indian investors to invest in the real estate

Tourist Profiles and Characteristics vis-à-vis Market Segmentation of Ecotourism Destinations in Kerala

Kerala, a classic ecotourism destination in India, provides significant opportunities for livelihood options to the people who depend on the resources from the forest and those who live in difficult terrains. This article analyses the socio-demographic, psychographic and travel behavior patterns and its sub-characteristics in the background of foreign and domestic tourists. The data source for the article has been obtained from a primary survey of 350 randomly chosen tourists, 175 each from domestic and foreign tourists, visiting Kerala’s ecotourists destinations during August-December 2010-11. Several socio-demographic, psychographic and life style factors have been identified based on the inference from field survey. There is considerable divergence in most of the factors identified in the case of domestic and international tourists. Post-trip attributes like satisfaction and intentions to return show that the ecotourism destinations in Kerala have significant potential that can help communities in the region.

From Market Concentration to Market Diversification: WTO and the Marine Products Exports from Kerala- Using ARIMA

Marine product export does something pivotal in the fish export economy of Kerala. The post WTO period has witnessed a strengthening of food safety and quality standards applied on food products in the developed countries. In the case of the primary importers, like the EU, the US and Japan, market actions will have far reaching reverberations and implications for the marine product exports from developing nations. The article focuses on Kerala’s marine product exports that had been targeting the markets of the EU, the US and Japan, and the concomitant shift in markets owing to the stringent stipulations under the WTO regime. Despite the overwhelming importance of the EU in the marine product exports of the state, the pronounced influence of irregular components on the quantity and value of marine product exports to the EU in the post WTO period raises concern. However, the tendencies of market diversification validated by the forecast generated for the emerging markets of the SEA, the MEA and others, to an extent, allay the pressures on the marine product export sector of the state which had hitherto relied heavily on the markets of the EU, the US and Japan

Market Orientation and Organisational Performance of Nonprofit Organizations in Kerala

This study is the concentrates different nature and practice of Marketing in nonprofit organization.How market indication can contribute the organizational performance of nonprofit organizations.