Department of Economics and Finance
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Item Financial management of higher education in india with a intensive study of BITS, Pilani(BITS, Pilani, 1982-01) Kumar, AryaItem Determinants and Dynamics of Livelihood Diversification for Household Well Being in Rural India(BITS Pilani, 2020) ZeeshanItem Dynamics of Financial Crises and Role of Investor Sentiments Indian Context(BITS Pilani, 2021) Gupta, NehaItem Public Infrastructure Investment Economic Growth and Fiscal Sustainability in India An Empirical Analysis(BITS, Pilani, 2017) Chotia, VarunItem Study on Formation and Performance of SME Alliances with Special Reference to Indian Manufacturing Firms(BITS, Pilani, 2019) Prabhudesai, Rohit SubhashItem Induction in Family Businesses A Study of Alternative Approaches(BITS, Pilani, 2017) Merchant, Parimal R.Item Consumer Behavior Analysis in Tourism Opportunities and Challenges for Goa(BITS, Pilani, 2016) Pawaskar, PinkyItem Relationship between Macroeconomic Variables and Stock Market Development Evidences from the Indian Economy(BITS Pilani, 2015) Joshi, PoojaStock market performance is considered as the reflector of financial and economic conditions of a country. The dynamic linkage between macroeconomic variables and stock prices has fetched increasing amount of attention from economists, financial analysts, investors and policy makers, since 1980s. There are number of domestic and international macroeconomic factors that potentially can affect the stock returns of the companies (Fama, 1981, Chen et al., 1986). According to Fama (1981), there is a comprehensive group of macroeconomic variables that influences the stock prices in the share market of any country. It is believed that, if a country s economy is performing well and expected to grow at a vigorous pace, the market is frequently anticipated to reflect the same. newlineThe relationship between macroeconomic variables and stock prices has been the focus of an immense body of theoretical and empirical research since the 19th century. The debate over the decades has been whether the movement in stock prices leads to the change in economic activity or it is one of the causes of change. However, the literature suggests some contradictory findings regarding which precise events or economic factors are likely to influence the stock prices and the degree of influencing power of the economic factors. Having generated strong controversy, the debate concerning the relationship between stock market development and macroeconomic variables is still difficult to solve and causality hard to pin down. Arguments both theoretical and empirical have been diverse. Some group of studies advocates that the stock prices do respond to the changes in macroeconomic fundamentals, but the sign and causal relationship might not hold equal for all the studies, given different set for similar macroeconomic variables and also the methodologies used for the study in this area are different (Fama (1981, 1990), Geske and Roll (1983), and Chen, Roll, and Ross (1986)). Further, existing Financial and Economic literature advocates the relationshipItem Development of a Credit Scoring Methodology for Assessment of Microfinance Borrowers(2013) Vaish, Arun KumarSince the early national plans policy planners have emphasized on strengthening the newlinelink between improving accesses to financial markets and reducing poverty a stance newlinethat has had influence globally Newer approaches include the partial dereg newlineulating of interest rates new institutional forms for cooperatives that put the emphasis back on newlineintermediating the savings of their members and a nationwide attempt pioneered by newlinenon governmental organizations and now supported by the state to create l newlineinks between commercial banks non governmental organisations NGOs and informal newlinelocal groups Surveys show that informal sector lenders remain a strong presence in newlinerural India and are still able to derive competitive advantage over the formal and semi formal sectors newlineIndia has the largest number of poor in the world Reducing poverty is a key element newlinein our inclusive growth strategy N umerous Schemes for poverty alleviation have not newlinebeen able to deliver benefits commensurate with the investment mad e over years newlineIndebtedness and low employment opportunities are one of the major plausible reasons newlinefor poverty Credit intervention is considered to be an effective tool to eliminate the newlinecurse of poverty and directed lending has taken a centre stage of social lending since nationalisation of banks and creation of regional rural banks NABARD experimented newlinegroup lending methodology in order to improve efficacy of credit which proliferated newlineexponentially Delivering small size of credit to poor in a cost effect newlineive manner is still a challeng Traditionally micro finance institutions MFIs have used subjective scoring the use of defined parameters such as experience in the business net margin of the business newlineprofitability and disposable income to analyze business and credit risk Effectiveness newlineand accuracy of subjective scoring is dependent on experience and skills of credit newlineofficer which limits the growth of lending business newlineIn contrast statistical credit scoring forecasts risk based on quantified characteristics newlinerecorded in a database of loan app.