On the extent of speculative activity in the Indian stock market during badla and post-badla period

The authors test the existence of speculative activity in the Indian stock market during badla and post-badla period. They further investigate whether speculative activity migrated to single stocks futures market after banning of badla system. In both the tests it is found that there is no evidence of strong speculative activity in the Indian market. The research raises some questions on the regulators decision of banning badla system and sheds some light on the future decisions with respect to single stock futures market.

Villages that never were : the museum village as a heritage genre

Villages of relocated buildings now constitute a phenomenon of the world's repertoire of heritage. They go by a multitude of names depending on particular inflection: open air museum, folk museum, living history museum, heritage village, museum village and so forth. 1 This paper reviews the context of the form of the genre's manifestation in Australia, where it is often known as the `pioneer village'. They are the fruit of a populist vision of national history which celebrates white rural settlement as its central theme. In practice, the villages manifest a deep commitment to collecting and saving old buildings as the meaningful construction of a favourite historical identity. But the generation that established Australia's villages has been overtaken. Today, the intersection of museum villages with the managerialist pressures of local economy enhancement and modern professional standards of heritage management challenge most villages' survival.

Online banking vs. bricks & mortar - or a hybrid model? A preliminary investigation of Australian and Indian banks

Deregulation, innovations in mobile and wireless technologies and media convergence, together with the rapid diffusion of the Internet, have opened up strategic business opportunities in the financial sector. With deregulation removing entry barriers, an increasing number of online banks are threatening the market share of ‘bricks and mortar’ banks. To survive this competition, and to leverage the new opportunities of online and mobile banking facilitated by the Internet, many banks have adapted a hybrid, ‘clicks and mortar’ model, to increase their profitability while reducing transaction costs. In this paper, we report the results of a preliminary analysis based on a few major banks in Australia and India, two diverse economies, to reveal some interesting insights.

Do dot coms add value : a preliminary study of the market capitalisation of Australian and Indian telecoms and banking sectors

E-Business is increasingly reshaping the way businesses operate across the globe. Globally, businesses in the banking and telecoms sectors have been re-engineering their value chains by adopting e-Business presence by means of dot com launches. The second half of the 1990s, however, saw both the rise and subsequent collapse of dot com entities as a major focus of investment interest, with consequent speculation over the viability of this corporate vehicle. The perceived increase in market capitalisation by means of these ventures during the boom period is now not so certain. In this paper, we report the results of a preliminary study which investigated the impact of dot com launches on market capitalisation within the banking and telecoms sectors of Australia and India.

Time-varying hedge ratios: an application to the Indian stock futures market

This paper investigates time-varying optimal hedge ratios in individual stock futures markets in India. The analysis employs data on individual stock futures from an unexplored but highly traded (both in terms of volume and quantity) emerging market. The hedge ratios derived in this study incorporate mean reversion in volatility, which is an important extension of the bivariate BEKK-GARCH model of Engle and Kroner. This extension generates improved optimal hedge ratios over the traditional BEKK-GARCH model and static error correction type alternatives.

Time varying hedge ratios : an application to the Indian stock futures market

This paper investigates time-varying optimal hedge ratios in individual stock futures markets in India. The analysis employs data on individual stock futures from an unexplored but highly traded (both in terms of volume and quantity) emerging market. The hedge ratios derived in this study incorporate mean reversion in volatility, which is an important extension of the bivariate BEKK-GARCH model of Engle and Kroner. This extension generates improved optimal hedge ratios over the traditional BEKK-GARCH model and static error correction type alternatives.

The global biopharma industry and the rise of Indian drug multinationals: implication for Australian generics policy

This article provides a synopsis of the new dynamics of the global biopharma industry. The emergence of global generics companies with capabilities approximating those of 'big pharma' has accelerated the blurring of boundaries between the innovator and generics sectors. Biotechnology-based products form a large and growing segment of prescription drug markets and regulatory pathways for biogenerics are imminent. Indian biopharma multinationals with large-scale efficient manufacturing plants and growing R&D capabilities are now major suppliers of Active Pharmaceutical Ingredients (APIs) and generic drugs across both developed and developing countries. In response to generic competition, innovator companies employ a range of life cycle management techniques, including the launch of 'authorised generics'. The generics segment in Australia will see high growth rates in coming years but the prospect for local manufacturing is bleak. The availability of cheap generics in international markets has put pressure on Pharmaceutical Benefits Scheme (PBS) pricing arrangements, and a new policy direction was announced in November 2006. Lower generics prices will have a negative impact on some incumbent suppliers but industrial renewal policies for the medicines industry in Australia are better focused on higher value R&D activities and niche manufacturing of sophisticated products.