A Study on Futures Trading in Commodities With Special Reference to Rubber

Futures trading in Commodities has three specific economic functions viz. price discovery, hedging and reduction in volatility. Natural rubber possesses all the specifications required for futures trading. Commodity futures trading in India attained momentum after the starting of national level commodity exchanges in 2003. The success of futures trading depends upon effective price risk management, price discovery and reduced volatility which in turn depends upon the volume of trading. In the case of rubber futures market, the volume of trading depends upon the extent of participation by market players like growers, dealers, manufacturers, rubber marketing co-operative societies and Rubber Producer’s Societies (RPS). The extent of participation by market players has a direct bearing on their awareness level and their perception about futures trading. In the light of the above facts and the review of literature available on rubber futures market, it is felt that a study on rubber futures market is necessary to fill the research gap, with specific focus on (1) the awareness and perception of rubber futures market participants viz. (i) rubber growers, (ii) dealers, (iii) rubber product manufacturers, (iv) rubber marketing co-operative societies and Rubber Producer’s Societies (RPS) about futures trading and (2) whether the rubber futures market is fulfilling the economic functions of futures market viz. hedging, reduction in volatility and price discovery or not. The study is confined to growers, dealers, rubber goods manufacturers, rubber marketing co-operative societies and RPS in Kerala. In order to achieve the stated objectives, the study utilized secondary data for the period from 2003 to 2013 from different published sources like bulletins, newsletters, circulars from NMCE, Reserve Bank of India (RBI), Warehousing Corporation and traders. The primary data required for this study were collected from rubber growers, rubber dealers, RPS & Rubber Marketing Co-operative Societies and rubber goods manufacturers in Kerala. Data pertaining to the awareness and perception of futures trading, participation in the futures trading, use of spot and futures prices and source of price information by dealers, farmers, manufacturers and cooperative societies also were collected. Statistical tools used for analysis include percentage, standard deviation, Chi-square test, Mann – Whitney U test, Kruskal Wallis test, Augmented Dickey – Fuller test statistic, t- statistic, Granger causality test, F- statistic, Johansen co – integration test, Trace statistic and Max –Eigen statistic. The study found that 71.5 per cent of the total hedges are effective and 28.5 per cent are ineffective for the period under study. It implies that futures market in rubber reduced the impact of price risks by approximately 71.5 per cent. Further, it is observed that, on 54.4 per cent occasions, the futures market exercised a stabilizing effect on the spot market, and on 45.6 per cent occasions futures trading exercised a destabilizing effect on the spot market. It implies that elasticity of expectation of futures market in rubber has a predominant stabilizing effect on spot prices. The market, as a whole, exhibits a bias in favour of long hedges. Spot price volatility of rubber during futures suspension period is more than that of the pre suspension period and post suspension period. There is a bi-directional association-ship or bi-directional causality or pair- wise causality between spot price and futures price of rubber. From the results of the hedging efficiency, spot price volatility, and price discovery, it can be concluded that rubber futures market fulfils all the economic functions expected from a commodity futures market. Thus in India, the future of rubber futures is Bright…!!!

Study on Microcredit in Kerala with Special Reference to Employment and Income Generation through Microenterprises and Livelihood Projects

This study aimed to study the evolution and substance of microfinance as a major tool for combating poverty at the global and national level. The development of micro finance in Kerala is briefly discussed. It also indicates the importance and role of microcredit in bringing the poor up in the society through entrepreneurial initiatives. The current trends in the field are also discussed, leading to the need of the present research.

Land Use Controls with Special Reference to Wetlands

This is a study of land use law in India. Land use Controls has been a subject of controversy since the human settlement. Gamut of control increased with human development. Now the controls are for many purposes.Nuisance created through various land use was tried to be avoidedthrough the common law controls7. Whether the utility of the activity outweighs the environmental consideration was the consideration before the court. A standard definition8 of nuisance could meet most of the problems relating to land use. Later on, planning and zoning laws brought in major changes. Health, safety and facilities of others attracted land use controls9. After the Stockholm the sphere of government interference increased. Several legislations were enacted. Existing legislations were modified. These come in conflict with the interests of different sections of society. Coastal Regulations10 and high range protection11 are manifestations of such unrest. A systematic study on these issues is of current interest. Exploring of some areas in this respect is also relevant in this respect.

Impact of the Sanitary and Phyto Sanitary Agreement on the Exports of Marine Products from India with Special Reference to Kerala

Fish and fishery products are regarded as healthy foods and there has been a significant increase in their global trade. Besides that, trade liberalization policies, globalization of food systems and technological innovations have furthered the increase in international trade in fish and fishery products.Fish and fishery product exports have a significant place in the export basket of India. Export earnings of India from fishery products increased from ` 4 crores in 1960-61to ` 12901.47 crores in 2010-11(MPEDA, 2012). The share of export earnings from fish and fishery products as a percentage of total agricultural exports of India increased from a low of 1.76 percent in 1960-61 to a high of 25.06 percent in 1994-95. But its share declined to 16.60 percent in the following year. Though its share in agricultural exports of the country has declined since then, in 2010-11, marine product exports accounted for 9.61 percent of total agricultural exports of India representing a significant share.

A generalization of Student’s t-distribution from the viewpoint of special functions

Student’s t-distribution has found various applications in mathematical statistics. One of the main properties of the t-distribution is to converge to the normal distribution as the number of samples tends to infinity. In this paper, by using a Cauchy integral we introduce a generalization of the t-distribution function with four free parameters and show that it converges to the normal distribution again. We provide a comprehensive treatment of mathematical properties of this new distribution. Moreover, since the Fisher F-distribution has a close relationship with the t-distribution, we also introduce a generalization of the F-distribution and prove that it converges to the chi-square distribution as the number of samples tends to infinity. Finally some particular sub-cases of these distributions are considered.

Some New Classes of Orthogonal Polynomials and Special Functions

In dieser Dissertation präsentieren wir zunächst eine Verallgemeinerung der üblichen Sturm-Liouville-Probleme mit symmetrischen Lösungen und erklären eine umfassendere Klasse. Dann führen wir einige neue Klassen orthogonaler Polynome und spezieller Funktionen ein, welche sich aus dieser symmetrischen Verallgemeinerung ableiten lassen. Als eine spezielle Konsequenz dieser Verallgemeinerung führen wir ein Polynomsystem mit vier freien Parametern ein und zeigen, dass in diesem System fast alle klassischen symmetrischen orthogonalen Polynome wie die Legendrepolynome, die Chebyshevpolynome erster und zweiter Art, die Gegenbauerpolynome, die verallgemeinerten Gegenbauerpolynome, die Hermitepolynome, die verallgemeinerten Hermitepolynome und zwei weitere neue endliche Systeme orthogonaler Polynome enthalten sind. All diese Polynome können direkt durch das neu eingeführte System ausgedrückt werden. Ferner bestimmen wir alle Standardeigenschaften des neuen Systems, insbesondere eine explizite Darstellung, eine Differentialgleichung zweiter Ordnung, eine generische Orthogonalitätsbeziehung sowie eine generische Dreitermrekursion. Außerdem benutzen wir diese Erweiterung, um die assoziierten Legendrefunktionen, welche viele Anwendungen in Physik und Ingenieurwissenschaften haben, zu verallgemeinern, und wir zeigen, dass diese Verallgemeinerung Orthogonalitätseigenschaft und -intervall erhält. In einem weiteren Kapitel der Dissertation studieren wir detailliert die Standardeigenschaften endlicher orthogonaler Polynomsysteme, welche sich aus der üblichen Sturm-Liouville-Theorie ergeben und wir zeigen, dass sie orthogonal bezüglich der Fisherschen F-Verteilung, der inversen Gammaverteilung und der verallgemeinerten t-Verteilung sind. Im nächsten Abschnitt der Dissertation betrachten wir eine vierparametrige Verallgemeinerung der Studentschen t-Verteilung. Wir zeigen, dass diese Verteilung gegen die Normalverteilung konvergiert, wenn die Anzahl der Stichprobe gegen Unendlich strebt. Eine ähnliche Verallgemeinerung der Fisherschen F-Verteilung konvergiert gegen die chi-Quadrat-Verteilung. Ferner führen wir im letzten Abschnitt der Dissertation einige neue Folgen spezieller Funktionen ein, welche Anwendungen bei der Lösung in Kugelkoordinaten der klassischen Potentialgleichung, der Wärmeleitungsgleichung und der Wellengleichung haben. Schließlich erklären wir zwei neue Klassen rationaler orthogonaler hypergeometrischer Funktionen, und wir zeigen unter Benutzung der Fouriertransformation und der Parsevalschen Gleichung, dass es sich um endliche Orthogonalsysteme mit Gewichtsfunktionen vom Gammatyp handelt.

Special Functions

Exam questions and solutions in LaTex

Special Functions pdf

Exam questions and solutions in PDF

Professional Recognition of Educator Practice Framework Handbook

UoS CPD Framework route

Research plan discussion: The socio-technical construction of MOOCs and educator practices in HE

In this seminar slot, we will discuss Steve's research aims and plan. Massive open online courses (MOOCs) have received substantial coverage in mainstream sources, academic media, and scholarly journals, both negative and positive. Numerous articles have addressed their potential impact on Higher Education systems in general, and some have highlighted problems with the instructional quality of MOOCs, and the lack of attention to research from online learning and distance education literature in MOOC design. However, few studies have looked at the relationship between social change and the construction of MOOCs within higher education, particularly in terms of educator and learning designer practices. This study aims to use the analytical strategy of Socio-Technical Interaction Networks (STIN) to explore the extent to which MOOCs are socially shaped and their relationship to educator and learning designer practices. The study involves a multi-site case study of 3 UK MOOC-producing universities and aims to capture an empirically based, nuanced understanding of the extent to which MOOCs are socially constructed in particular contexts, and the social implications of MOOCs, especially among educators and learning designers.

Conceptual Rapprochement and the Analysis of the Historical, Normative and Jurisprudential Treatment of the Rural Workers, as Regards the Need for Special Protection

This article aims to present an approach to the issue of farm or rural zone workers, including a labour law study of agrarian legal decisions, so as to demonstrate their importance in respect to social, economic and cultural rights in Colombia. The study will serve to illustrate through the history, the applicable law and the jurisprudence, the different ways in which farmers have been treated from the time of the origin until the arrival of modern systems of industrialization. It calls into question the effectiveness of existing laws and the role of the courts, in spite of globalization, to maintain the minimum rights and guarantees of farm workers who are considered to be a vulnerable population. In conclusion, this study seeks to illustrate the current role of the Labor law and the National Health Service in the area of demonstrating of the existence or absence of mechanisms to protect workers in rural areas and the need to create some mechanisms that involve social justice given its prime importance in the Constitution of 1991.

The three systems for the protection of fundamental human rights in the European Union and exceptional measures against terrorism: the case of extraordinary extraditions (the CIA flights) with special reference to the Spanish case

This document is aimed first of all, make a small introductory reference on the three levels of protection of fundamental rights in Europe with the idea of helping to clarify and understand mainly to non-European systems that we are not talking. For that, based on this, going on to assess the impact generated in these systems suggest that the complaints alleged involvement of European countries in secret CIA flights to combat international terrorism, as well as investigate the responses that have given each protection of these areas to try to clarify them. 

Introduction to the Special Issue