The Financial Statement Insurance Alternative to Auditor Liability

These articles evaluate using financial statement insurance (FSI) to reduce the frequency and magnitude of audit failure. The FSI concept was pioneered by Josh Ronen, NYU Accounting Professor, who has modeled its economic aspects. My paper examines FSI’s efficacy from policy and legal perspectives. I conclude that while the model is not perfect, it promises considerable advantages over the current model. While some of the existing system’s imperfections are sustained or reappear in different guises, none of the existing imperfections appears to be aggravated and the rest likely are mitigated significantly. So I prescribe a framework to permit companies, on an experimental-basis and with investor approval, to use FSI as an optional alternative to financial statement auditing backed by auditor liability.

A Study Of Chit Finance In Kerala With Special Emphasis On Kerala State Financial Enterprises Ltd.

Chit funds contribute to the value of financial markets in India particularly in Kerala. Chit finances with its unique features are of great significance especially as a savings cum borrowing avenue. The present study entitled “A Study of chit Finance in Kerala with special emphasis on Kerala State Financial Enterprises Ltd.” examines the socio-economic aspects of Chit schemes run by the private Chit Funds, KSFE, co-operatives, and informal Chit Funds. The study is an attempt to find the reasons for the growing popularity of Chit Funds as savings cum borrowings avenues even in the presence of various other avenues of savings and borrowings and also to understand how the Chit subscribers utilize the funds. The objectives of the present study are to examine the trends and pattern of growth of Chit Funds in the formal sector in Kerala, performance of KSFE as the only public sector Chit Fund company in India, preference for joining Chit Funds, estimate the cost and return on Chit Funds etc. is an indigenous financial instrument is complementary to modern financial techniques of savings and borrowings. KSFE is the dominant foremen in the chit business in Kerala, its weaknesses result in the non-attainment of certain objectives. Driven by the growing trend of privatization, KSFE needs to be innovative and competitive. It is also necessary that KSFE continue its leadership role by being more effective in being the harbinger of more efficiency, professionalism and good governance in the Chit Fund Industry. The growth and development of chit business by protecting the interests of both the subscribers and the foremen will therefore be most beneficial for any growing economy.

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

A Novel Accelerator Combination for the Low Temperature Curing of Silica-Filled NBR Compounds

Zinc salts of ethyl, isopropyl, and butyl xanthates were prepared in the laboratory. The effect of these xanthates in combination with zinc diethyldithiocarbamate (ZDC) on the vulcanization of silica-filled NBR compounds has been studied at different temperatures. The cure times of these compounds were compared with that of NBR compounds containing tetramethylthiuram disulphide/dibenzthiazyl disulphide. The rubber compounds with the xanthates and ZDC were cured at various temperatures from 60 to 150°C. The sheets were molded and properties such as tensile strength, tear strength, crosslink density, elongation at break, compression set, abrasion resistance, flex resistance, heat buildup, etc. were evaluated. The properties showed that zinc salt of xanthate/ZDC combination has a positive synergistic effect on the cure rate and mechanical properties of NBR compounds.

Studies on Xanthate/Dithiocarbamate Accelerator Combination in NR/BR Blends

Zinc butyl xanthate [Zn(bxt)2] was prepared in the laboratory . The effect of this xanthate with zinc diethyl dithiocarbamate (ZDC) on the vulcanization of natural rubber ( NR), polybutadiene rubber (BR), and NR/BR blend has been studied at different temperatures. The amounts of Zn (bxt)2 and ZDC in the compounds were optimized by varying the amount of ZDC from 0 . 75 to 1.5 phr and Zn (bxt)2 from 0 . 75 to 1 .5 phr. The cure characteristics were also studied . HAF filled NR, BR, and NR / BR blend compounds were cured at different temperatures from 60 to 150 C. The sheets were molded and properties such as tensile strength, tear strength, crosslink density and elongation at break, compression set, abrasion resistance, etc. were evaluated. The results show that the mechanical properties of 80NR/20BR blends are closer to that of NR vulcanizates, properties of 60NR/40BR blends are closer to BR vulcanizates, while the 70NR/30BR blends show an intermediate property.

Synergism of Xanthate/Dithiocarbamate Accelerator in Carbon Black Filled NR Compounds

Zinc salts of ethyl, isopropyl and butyl xanthates were prepared in the laboratory. The effect of these xanthates with zinc diethyldithiocarbamate (ZDC) on the vulcanization of HAF filled NR compound has been studied at different temperatures. The rubber compounds with the three xanthate accelerators and ZDC were cured at various temperatures from 60°C to 150°C. The sheets were moulded and properties such as tensile strength , tear strength , cross-link density, elongation -at-break, compression set, heat build up, abrasion resistance, flex resistance , etc. were evaluated . The properties showed that zinc xanthate/ZDC accelerator combination has a positive synergistic effect on the mechanical properties of NR compounds. The curing of HAF filled NR compound containing zinc xanthate /ZDC is slightly slower than the curing of the corresponding gum compounds . It is observed that, by gradually increasing the amount of the accelerator, the cure time of black filled NR compound can be made equal to that of the gum compou

Studies on New Binary Accelerator Systems in Rubber Vulcanisation

Department of Polymer Science and Rubber Technology, Cochin University of Science and Technology

Financial Inclusion of Fisher Households in Coastal Kerala-Role of Micro Finance

Dept.of Applied Economics,Cochin University of Science and Technology

Financial crisis: theory and practice

In the last 50 years, we have had approximately 40 events with characteristics related to financial crisis. The most severe crisis was in 1929, when the financial markets plummet and the US gross domestic product decline in more than 30 percent. Recently some years ago, a new crisis developed in the United States, but instantly caused consequences and effects in the rest of the world. This new economic and financial crisis has increased the interest and motivation for the academic community, professors and researchers, to understand the causes and effects of the crisis, to learn from it. This is the one of the main reasons for the compilation of this book, which begins with a meeting of a group of IAFI researchers from the University of Barcelona, where researchers form Mexico and Spain, explain causes and consequences of the crisis of 2007. For that reason, we believed this set of chapters related to methodologies, applications and theories, would conveniently explained the characteristics and events of the past and future financial crisis This book consists in 3 main sections, the first one called "State of the Art and current situation", the second named "Econometric applications to estimate crisis time periods" , and the third one "Solutions to diminish the effects of the crisis". The first section explains the current point of view of many research papers related to financial crisis, it has 2 chapters. In the first one, it describe and analyzes the models that historically have been used to explain financial crisis, furthermore, it proposes to used alternative methodologies such as Fuzzy Cognitive Maps. On the other hand , Chapter 2 , explains the characteristics and details of the 2007 crisis from the US perspective and its comparison to 1929 crisis, presenting some effects in Mexico and Latin America. The second section presents two econometric applications to estimate possible crisis periods. For this matter, Chapter 3, studies 3 Latin-American countries: Argentina, Brazil and Peru in the 1994 crisis and estimates the multifractal characteristics to identify financial and economic distress. Chapter 4 explains the crisis situations in Argentina (2001), Mexico (1994) and the recent one in the United States (2007) and its effects in other countries through a financial series methodology related to the stock market. The last section shows an alternative to prevent the effects of the crisis. The first chapter explains the financial stability effects through the financial system regulation and some globalization standards. Chapter 6, study the benefits of the Investor activism and a way to protect personal and national wealth to face the financial crisis risks.

Financial planning and Control in public sector undertakings in kerala

Today India is seeking a speedy transformation of her semi-stagnant economy to a dynamic one by means of economic planning in a democratic set up. In the context of this growth oriented endeavour public sector has a vital role to play. After three decades of planned development, it has become important that India must make fresh appraisals on the role of public sector in the economic renaissance of the country. Almost no comprehensive study has been made on this vital segment of the economy vis-a-vis the growth economics. This study is an attempt to fill this need in a very modest way. It presents the subject in a new perspective. An earnest attempt is made to reveal the critical problems inhibiting the growth of the public sector from a new angle which focusses the spot-light on the economics of development.

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.