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Article
Publication date: 13 June 2020

Debidutta Pattnaik, Satish Kumar and Ashutosh Vashishtha

Trade credit (TC) is a financing provision by non-financing firms. The multi-disciplinary research field has sustained scholarly attention for long. Pursuant to the gap for a…

1406

Abstract

Purpose

Trade credit (TC) is a financing provision by non-financing firms. The multi-disciplinary research field has sustained scholarly attention for long. Pursuant to the gap for a comprehensive summary of the literature confined to the areas of Finance and Economics, this study aims to provide quantitative and qualitative insights not fully captured or analysed in previous reviews.

Design/methodology/approach

Contextualized systematic literature review (SLR) and bibliometric techniques are used to map the thematic, intellectual and conceptual structures latent in 138 articles published in top journals.

Findings

The top authors, top journals and major themes are recognized using bibliometric techniques followed by an in-depth bibliographic-network-based-content-analysis. Five major clusters indicating the five research dimensions within the specialized field are identified and extensively reviewed. Empirical validation of key theories is discussed in the contents and a conceptual model is developed. Finally, the study has identified key research gaps to set the direction for future research.

Research limitations/implications

The scope of the literature selection is confined to the areas of finance and economics. Future studies could elaborate on a broader perspective.

Originality/value

The study contributes by offering a conceptual model latent in the literature on TC. It derives major research gaps to set the direction of future research. Also, the combination of SLR and bibliometrics is a methodological contribution in this research domain.

Details

Qualitative Research in Financial Markets, vol. 12 no. 4
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 31 July 2007

A.K. Sharma and Ashutosh Vashishtha

This paper aims to trace the evolution of Indian financial market structure and regulation, in the broad dialectic sense and to suggest a consolidated, holistic regulatory model.

7786

Abstract

Purpose

This paper aims to trace the evolution of Indian financial market structure and regulation, in the broad dialectic sense and to suggest a consolidated, holistic regulatory model.

Design/methodology/approach

The paper sketches the evolution of Indian financial market structure and its regulation in terms of dialectic cycles. The first cycle extending practically over four decades, from the 1950s to the 1980s, was a period of foundation, expansion, and policy introspection. The decade of the 1990s marked the commencement of the second cycle – a period of liberalization and emergence of financial conglomerates. The Indian financial system has since completed one full circle in the dialectic process and is now passing through the last phase (synthesis) of the second cycle. Based on this dialectic approach, a consolidated and holistic regulatory model has been developed and suggested.

Findings

The paper concludes that, from a regulatory perspective, the recent developments in the financial sector have led to an appreciation of the limitations of the present segmental approach to financial regulation and favors adopting a consolidated supervisory approach to financial regulation and supervision, irrespective of its structural design.

Originality/value

This paper will be of value to financial regulators, financial intermediaries and investors across all the countries, developed as well as developing. It will facilitate and guide in the process of regulatory restructuring and strengthening the overall health of the financial markets.

Details

Journal of Financial Regulation and Compliance, vol. 15 no. 3
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 6 March 2007

Anil K. Sharma and Ashutosh Vashishtha

This article aims to examine the state of risk management in agriculture and power sector of India, evaluate the effectiveness of weather derivatives as alternative risk…

5528

Abstract

Purpose

This article aims to examine the state of risk management in agriculture and power sector of India, evaluate the effectiveness of weather derivatives as alternative risk management tools and basic framework required to implement them.

Design/methodology/approach

Applications of traditional risk‐hedging tools and techniques in Indian agricultural and power sectors have proved to be costly, inadequate, and more importantly, a drag on the country's fiscal system. Mostly they offer a hedge against only the price risk. The volume related risk, which is rather more serious and highly weather‐dependent, remains practically unhedged. This study has used existing literature and empirical evidences for analyzing the various issues related to risk management in agriculture and power sector. Traditional derivative strategies have been used to construct weather derivatives contracts with different underlying weather indices.

Findings

The article suggests that how an appropriate weather‐based derivative contract system may be a more flexible, economical and sustainable way of managing the volume‐related weather risk in an economy, like India, having predominant agricultural and power sectors.

Originality/value

The article will be of value to all those who have some stakes in agricultural and power sectors of an economy and would like to mange the volume related risk in these sectors.

Details

The Journal of Risk Finance, vol. 8 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

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