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

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.

Legal Control of Fishing Industry in Kerala

This work is a study on ‘Legal Control of Fishing Industry in Kerala.Fishery and Fishery-related legislations are sought to be examined in the light of scientific opinion and judicial decisionsThis work is divided into five Part.The thrust of time Study is on the success of legislative measures in attempting to achieve socio-economic justice for the fishermen community.Fishing is more an avocation than an industry. It is basically the avocation of the artisanal or traditional fishermen who depend on it for their livelihood. As an ‘industry’, it is a generator of employment, income and wealth.The modern tendency in national legislations is to integrate legal proivisions relating to EEZ fisheries into the general fisheries legislation.Chartered fishing was introduced by the Central Government during 1977-78 to establish the abundance and distribution of fishery resources in Indian EEZ, for transfer of technology and for related purposes.Going by the provisions of Articles 61 and 62 of the U.N. Convention on the Law of the Sea, 1982, foreign fishing need be permitted in our EEZ area only if there is any surplus left after meeting our national requirements.Conservation of the renewable fishery resources should start with identification of the species, their habitats, feeding and breeding patterns, their classification and characteristics. Fishing patterns and their impact on different species and areas require to be examined and investigated.the Central Government, that the Kerala Marine Fishing Regulation Act, 1980 was passed.our traditional fishermen that our Governments in power in Kerala resorted to the appointment of Commissions after Commissions to enquire into the problems of resource management and conservation of the resources. The implementation of the recommendations of these Commissions is the need of the times.General infrastructure has increased to a certain extent in the fishery villages; but it is more the result of the development efforts of the State rather than due to increase in earnings from fishing. Fisherwomen ar e still unable to enjoy the status and role expected of them in the society and the family.Around 120 million people around the tuorld are economically dependent on fisheries. In developing countries like India, small-scale fishers are also the primary suppliers of fish, particularly for local consumption. A most important role of the fisheries sector is as a source of domestically produced food. Fish, as a food item, is a nutrient and it has great medicinal value.Consumers in our country face a dramatic rise in fish prices as our ‘fishing industry’ is linked with lucrative markets in industrial countries. Autonomy of States should be attempted to be maintained to the extent possible with the help and co-operation of the Centre. Regional co-operation of the coastal states interse and with the Centre should be attempted to be achieved under the leadership of the Centre in matters of regional concern. At time national level, a ifisheries management policy and plan should be framed in conformity with the national economic policies and plans as also keeping pace with the local and regional needs and priorities. Any such policy, plan and legislation should strive to achieve sustainability of the resources as well as support to the subsistence sector.

Global Value Chain Linkages of Manufacturing Export Firms: A Study of The Kannur Home Textile Industry

The literature on the involvement of developing countries in trade has focused on the effects of different aspects of globalization on firms, regions and countries. The study attempts to examine how an export based industry, locallyembedded and originated on the basis of regional strengths has been inserted into the global trade framework. Though the unit of analysis is the manufacturing export firm in the region of Kannur, it represents the entire home textile export industry from the state of Kerala, as close to 90% of fabric exports in home furnishing material, textiles for upholstery and decoration and stitched or fused, and branded made ups are from the region. From a global perspective, how developing countries face newer trade restrictions and overcome non quota barriers by firm and region specific activities within a value chain framework is a major research area, which has already contributions from the Ludhiana woolen cluster (Tewari,1999 ) and the Tirupur cluster in India (Cawthorne, 1995). The study contributes to the value chain literature by examining the governance and upgrading as well as how firms benefit from linkages. India has a number of export oriented agglomerations or regions where firms have been serving export markets for many years. In many cases it is no longer the supply side policy actions that determine how they are able to penetrate new markets or expand existing market share. Based on this study it becomes possible to understand how the global value chain operates in these different industries to examine whether there is a danger of immiserisation of growth or low road growth

The economics of rubber plantation industry in kerala

The study is an objective analysis of the importance of the economics of rubber plantation industry in Kerala. The study covers a period of 25 years ranging from 1950-51 to 1974-75. The data for the study were obtained partly from published documents such as: (1) The Plantation Inquiry Commission Report (for 1950s) (2) The Tariff Commission Reports (for 1960s) (3) Indian Rubber Statistics (for 1970s) and partly from personal inquiries. The thesis is divided into three parts consisting of eight chapters. Part I deals with the importance, growth, present position, and the scope of the industry. Part II discusses in detail the various development schemes, their impact, the role of small holding sector in the development of the rubber plantation industry and the problems faced by small holdings. Part III analyses the problems connected with marketing, cost, profitability and the development potential of the industry

The Economics of Rubber Based Industry in Kerala

The importance of industrialisation in achiering rapid economic growth has been recognised in India's development strategy ever since the inception of economic planning in the country. Being the secondary sector in the generation of national income. industry contributes significantly to the process of economic development. Extensive debates have taken place on the nature of the industrialisation strategy to be pursued in the economy since Independence. This is reflected in the industrial policy which evolved through the various five year plans and policy resolutions. Stupendous efforts have been made by the government since the commencement of planning and particularly since the 1960s to industrialise the Indian economy and develop the infrastructural base for sustained industrial development. It is difficult to assess the performance of the industrial sector over the past three decades with respect to the broad objectives of industrialisation. However. there are certain areas in which the achievements have been clearly significant.

Thermal stability of myofibrillar protein from Indian major carps

The characteristics and stability of natural actomyosin (NAM) from rohu (Labeo rohita), catla (Catla catla) and mrigal (Cirrhinus mrigala) were investigated. The total extractable actomyosin (AM) was higher (7.60mgml−1) in the case of rohu compared with that from catla and mrigal (5mgml−1). Although the specific AM ATPase activity was similar (0.43–0.5 μmolPmin−1 mgP−1) among the three species, the total ATPase activity was lower in mrigal (25 μmol g−1 meat) compared with the other species (37 μmol g−1 meat). The inactivation rate constants (kd) of AM Ca ATPase activity showed differences in the stabilities of actomyosin among these fish, the actomyosin from catla being least stable. The NAM from these species was stable up to 20 ◦C at pH 7.0. Catla AM became unstable at 30 ◦C, while rohu and mrigal AM could withstand up to 45 ◦C. The thermal denaturation with respect to solubility, turbidity, ATPase activity, sulphhydryl group and surface hydrophobicity showed noticeable changes at around these temperatures

Rheological characteristics of suwari and kamaboko gels made of surimi from Indian major carps

The gel strength, compressibility and folding characteristic of suwari (set) and kamaboko (set and cooked) gels prepared from rohu (Labeo rohita), catla (Catla catla) and mrigal (Cirrhinus mrigala) surimi were examined to understand the occurrence of suwari and modori phenomena in surimi from major freshwater carps. Suwari setting of gels did not take place at lower temperatures. Suwari gels showed good gel strength at 50 C for rohu and at 60 C for catla and mrigal after 30 min setting time

Challenges Faced by Kerala Tourism Industry

Tourism being a smokeless industry is now a multi-billion, multi-sectoral and multi-dimensional activity in the world. Twenty first century tourism has reached up to space when a Russian rocket carried the space vehicle of Dennis Tito, an American businessman and the world’s first space tourist, to the space station. Time is not too far to carry tourists to moon and other planets in specially launched vehicles. Tourism is being considered as an agent of social change bridging gaps among nations, regions and people and helping them to open up. It is a promoter of development-material and spiritual both at macro and micro level. The General Assembly of the United Nations, in designating the year 1967 as ‘International Tourism Year’ recognized the importance of international travel as a means of fostering understanding among people, and giving them a knowledge of the rich heritage of the past civilizations, a better appreciation of the values of different cultures, thus contributing to the strengthening of world peace. It adopted the theme “Tourism-Passport to peace”. Our veteran national leader and the first Prime Minister of India, Jawaharlal Nehru had said” welcome a tourist and send back a friend” which indicates the need for extending friendly hospitality to the in bound tourists. Modern transportation has removed the obstacles of distance enabling people to appreciate each other engage in the exchange of ideas and commerce. Tourism can help overcome real prejudices and foster bonds. Tourism can be a real force of world peace. Considering the vast and varied potential of tourism in the state and its impact on the economic, social and cultural environment of the state, a detailed study is found to be relevant and imperative

ICT Industry In India: A Swot Analysis

The objectives of this paper are mainly three (i) to make an overall study of the global experiences and trends in respect of ICT industry, (ii) to study the performance of the Indian ICT industry (including, its strengths, weaknesses, opportunities and threats), and lastly (iii) to make constructive suggestions as to ensure superior performance of the Indian ICT industry in the light of the latest developments and trends in the field.

Indian Law on Control of Vessel Sourced Pollution in Maritime Ports

Maritime ports are inevitable for India’s economic development. The very existence and sustainable development of ports depend on clean port environment. There is a notion that shipping is an over regulated industry. But in India, it is being operated under sub- standard conditions, raising crucial issues of environmental pollution in the country’s ports. The negative impacts of vessel sourced pollution on the eco-fragile coastal peninsula can be detrimental to the living conditions, health and interests of the coastal population. It can disturb marine life and imbalance the aquatic ecosystem. The present study analyses control of vessel sourced pollution in Indian ports from an economic and ecological perspective. The study investigates legal reasons behind the weak control, regulation and monitoring over vessel sourced pollution in Indian ports. The loopholes in the legal system are identified and suggestion made to implement stronger enforcement. Unless, vessel operations are properly regulated in ports, the trade and economic prospects of India will be jeopardized.

Revisión sistemática de literatura de la neumonía lipoidea exógena (nle) por exposición laboral

Objetivo Realizar una revisión sistemática de la neumonía lipoidea exógena (NLE) con el propósito de compactar y sintetizar los conocimientos fragmentados, así como el de informar el estado actual de este tema como riesgo laboral. Metodología La neumonía lipoidea es una condición poco común que resulta de la presencia de lípidos en el interior del espacio alveolar, se desconoce su actual incidencia. La neumonía lipoidea exógena se produce por aspiración o inhalación de sustancias oleosas, es una patología rara en pacientes sin enfermedades de base que predispongan a la broncoaspiración y cuando se presenta en individuos sanos se debe sospechar un origen ocupacional. Se realizó una revisión de literatura según la metodología estandarizada, incluyendo en la búsqueda: reporte de casos, descripciones de la enfermedad y el uso de técnicas diagnósticas. Las bases de datos fueron OVID además de GOOGLE ACADÉMICO; buscadores específicos: MEDLINE, CHEST, PUB MED, REDALYC, SCIELO, Europe PubMed Central (Europe PMC) y ELSEVIER. La búsqueda estuvo además, orientada por una serie de preguntas orientadoras sobre la neumonía lipoidea exógena (NLE) como riesgo laboral. Los artículos que cumplieron con los criterios de inclusión, se clasificaron de acuerdo con tipo de estudio, la calidad del artículo y finalmente se evaluaron con base en una lista de chequeo ajustada para este fin. Resultados Se seleccionó un total de 71 estudios incluyendo reporte de casos, descripciones de la enfermedad y técnicas diagnósticas; publicaciones provenientes de 21 países. Un total de 63 casos, 31 en mujeres (49,20%) y 32 en hombres (50,8%) fueron reportados; el 7,93% de los casos fueron atribuidos a la exposición de agentes en el ambiente laboral: combustibles, parafina/pintura/ pulverizaciones oleosas y diésel, ambientes propios de trabajadores de almacenes de pinturas y conductores de vehículos. Los síntomas de la neumonía lipoidea exógena (NLE) descritos fueron muy variables, puede cursar asintomática o con presencia de fiebre, disnea y tos irritativa; dolor torácico, en algunos casos hemoptisis, cianosis y pérdida de peso; El examen físico generalmente es normal, aunque puede revelar sibilancias o roncus. En pruebas de función respiratoria tales como la espirometría, se presenta un patrón restrictivo, además puede hallarse un descenso en la capacidad de difusión para el monóxido de carbono. En el hemograma puede detectarse leucocitosis con predominio de neutrófilos y aumento de la velocidad de sedimentación globular, hallazgos que también pueden ser producidos por una infección concomitante. Conclusiones Se destaca el hallazgo en la literatura de los diferentes agentes causales presentes en el ambiente laboral que pueden incidir en la aparición de la enfermedad: combustibles, parafina/pintura/ pulverizaciones oleosas y diésel, ambientes propios de trabajadores de almacenes de pinturas y conductores de vehículos. Se presentó neumonía lipoidea exógena (NLE) de tipo agudo después de 30 minutos a 24 horas de exposición masiva a aceites y sustancias oleosas, luego de de ocho meses a 9,5 años de inhalación continua secundaria. Los métodos más para de la diagnóstico enfermedad incluyen el lavado broncoalveolar (BAL), la biopsia de pulmón y la con radiografía torácica. Finalmente, es posible que en pacientes con neumonía lipoidea exógena, puedan presentarse complicaciones asociadas tales como: sobreinfección, fibrosis, retracción de las lesiones, cáncer de pulmón, bronconeumonías recurrentes e hipercalcemia.

Regulatory reform and productivity change in Indian banking

This paper examines the impact of regulatory reform on productivity growth and its components for Indian banks in 1992-2009. We estimate parametric and non-parametric efficiency frontiers, followed by Divisia and Malmquist indexes of Total Factor Productivity respectively. To account for technology heterogeneity among ownership types we utilise a metafrontier approach. Results are consistent across methodologies and show sustained productivity growth, driven mainly by technological progress. Furthermore, results indicate that different ownership types react differently to changes in the operating environment. The position of foreign banks becomes increasingly dominant and their production technology becomes the best practice in the industry.

A study of slag corrosion of oxides and oxide-carbon refractories during steel refining

The use of ceramic material as refractories in the manufacturing industry is a common practice worldwide. During usage, for example in the production of steel, these materials do experience severe working conditions including high temperatures, low pressures and corrosive environments. This results in lowered service lives and high consumptions of these materials. This, in turn, affects the productivity of the whole steel plant and thereby the cost. In order to investigate how the service life can be improved, studies have been carried out for refractories used in the inner lining of the steel ladles. More specifically, from the slag zone, where the corrosion is most severe. By combining thermodynamic simulations, plant trails and post-mortem studies of the refractories after service, vital information about the behaviour of the slagline refractories during steel refining and the causes of the accelerated wear in this ladle area has been achieved. The results from these studies show that the wear of the slagline refractories of the ladle is initiated at the preheating station, through reduction-oxidation reactions. The degree of the decarburization process is mostly dependent on the preheating fuel or the environment. For refractories without antioxidants, refractory decarburization is slower when coal gas is used in ladle preheating than when a mixture of oil and air is used. In addition, ladle preheating of the refractories without antioxidants leads to direct wear of the slagline refractories. This is due to the total loss of the matrix strength, which results in a sand-like product. Thermal chemical changes that take place in the slagline refractories are due to the MgO-C reaction as well as the formation of liquid phases from impurity oxides. In addition, the decrease in the system pressure during steel refining makes the MgO-C reaction take place at the steel refining temperatures. This reduces the refractory’s resistance to corrosion. This is a serious problem for both the magnesia-carbon and dolomite-carbon refractories. The studies of the reactions between the slagline refractories and the different slag compositions showed that slags rich in iron oxide lead mostly to the oxidation of carbon/graphite in the carbon-containing refractories. This leads to an increased porosity and wettability and therefore an enhanced penetration of slag into the refractory structure. If the slag contains high contents of alumina and or silica (such as the steel refining slag), reactions between the slag components and the dolomite-carbon refractory are promoted. This leads to the formation of low-temperature melting phases such as calcium-aluminates and silicates. The state of these reaction products during steel refining leads to an accelerated wear of the dolomite-carbon refractory. The main products of the reactions between the magnesia-carbon refractory and the steel refining slag are MgAl2O4 spinels, and calcium-aluminates, and silicates. Due to the good refractory properties of MgAl2O4 spinels, the slag corrosion resistance of the magnesiacarbon refractory is promoted.