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Book part
Publication date: 26 November 2019

Debashis Mazumdar, Mainak Bhattacharjee and Jayeeta Roy Chowdhury

This chapter seeks to analyze the development across the length and breadth of the Indian financial system in the post-reform period, based on the “flow of funds” accounts…

Abstract

This chapter seeks to analyze the development across the length and breadth of the Indian financial system in the post-reform period, based on the “flow of funds” accounts estimates by RBI. Besides, this chapter also analyzes the integration of the Indian capital market with the stock markets of the United States, the United Kingdom, Japan, China, Hong Kong, and Singapore using the movements in their stock prices during 1998–2015. Moreover, this chapter is intended for examining the potential implication financial integration, particularly the financial openness of India, on volatility spillover and financial contagion in as much as these two issues have emphatic significance in the determination of the relevant policy roadmap. Our findings broadly confirms the expectations by revealing significantly positive correlations in stock prices, in returns to investments in stock markets, and in mean returns and risk. The integration of the capital markets is also manifested in the cyclical fluctuations of the stock price indices, signifying the underlying sensitivity to random shocks.

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The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

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Book part
Publication date: 23 December 2005

Yun Wang, Abeyratna Gunasekarage and David M. Power

This study examines return and volatility spillovers from the US and Japanese stock markets to three South Asian capital markets – (i) the Bombay Stock Exchange, (ii) the Karachi…

Abstract

This study examines return and volatility spillovers from the US and Japanese stock markets to three South Asian capital markets – (i) the Bombay Stock Exchange, (ii) the Karachi Stock Exchange and (iii) the Colombo Stock Exchange. We construct a univariate EGARCH spillover model that allows the unexpected return of any particular South Asian market to be driven by a local shock, a regional shock from Japan and a global shock from the USA. The study discovers return spillovers in all three markets, and volatility spillovers from the US to the Indian and Sri Lankan markets, and from the Japanese to the Pakistani market. Regional factors seem to exert an influence on these three markets before the Asian financial crisis but the global factor becomes more important in the post-crisis period.

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Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century
Type: Book
ISBN: 978-0-76231-258-0

Book part
Publication date: 20 July 2016

Ritu Srivastava

Crowdfunding though existent, is still at the nascent stage in India being limited to charity and reward-based funding of creative and social projects by the crowd. The Indian…

Abstract

Purpose

Crowdfunding though existent, is still at the nascent stage in India being limited to charity and reward-based funding of creative and social projects by the crowd. The Indian regulatory authorities are in the process of formulating policies to encourage and monitor crowdfunding platforms that are based on financial return. The Indian Micro, Small and Medium Enterprises (MSME) sector in particular is facing financing problems, and crowdfunding could be a viable alternative to traditional sources of finance. In this context, the study attempts to suggest an operational framework for crowdfunding in India with special reference to the MSME sector in terms of eligibility norms, rules for investor protection, sustaining market integrity, providing a supportive infrastructure and defining the role of online crowdfunding platforms.

Methodology/approach

This is a qualitative study conducted through personal interviews based on unstructured questions. The Directors or Chief Finance Officers of MSME firms and Senior Officials (with minimum work experience of 15 years) in the SME divisions of banks (private and public) located in the National Capital Region, were interviewed to identify the perspectives on the research issues of the chapter. The sampling criterion allowed us to incorporate both investors’ and investees’ concerns regarding the research issues.

Research limitations

These are the inherent nature of qualitative analysis, interviewees’ individual understanding of the subject and sample size.

Practical implications

The study will contribute to the vital discussion prior to the government’s decision on role of equity and debt-based crowdfunding in India in the future.

Social implications

The study will shed light on the fact that Indian society needs to be well informed about novel investment options such as crowdfunding. The Indian MSME sector can also discuss the opportunities offered by crowdfunding with the government to reduce their problem of access to finance.

Originality/value

The scope of crowdfunding in the Indian MSME sector has not been thoroughly researched, as the phenomenon is new in India. The study highlights how the use of crowdfunding by micro, small and medium firms has the potential to boost manufacturing- and service-related business activities to further increase the national income.

Details

International Perspectives on Crowdfunding
Type: Book
ISBN: 978-1-78560-315-0

Keywords

Abstract

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Investment Behaviour
Type: Book
ISBN: 978-1-78756-280-6

Abstract

Details

Developing an Effective Model for Detecting Trade-based Market Manipulation
Type: Book
ISBN: 978-1-80117-397-1

Abstract

Details

Dynamic Linkages and Volatility Spillover
Type: Book
ISBN: 978-1-78635-554-6

Abstract

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Governance-Led Corporate Performance: Theory and Practice
Type: Book
ISBN: 978-1-78973-847-6

Book part
Publication date: 26 December 2016

Anil Joshi and Padmaja Ruparel

Abstract

Details

Angel Financing in Asia Pacific
Type: Book
ISBN: 978-1-78635-128-9

Content available
Book part
Publication date: 5 May 2021

Jose Joy Thoppan, M. Punniyamoorthy, K. Ganesh and Sanjay Mohapatra

Abstract

Details

Developing an Effective Model for Detecting Trade-based Market Manipulation
Type: Book
ISBN: 978-1-80117-397-1

Book part
Publication date: 29 May 2023

Ajay Sharma and Ajit Bansal

Purpose: This chapter aims to evaluate the impact of money laundering and terrorism financing on the Indian economy and to study the effectiveness of prevention of money…

Abstract

Purpose: This chapter aims to evaluate the impact of money laundering and terrorism financing on the Indian economy and to study the effectiveness of prevention of money laundering acts and terrorist financing as per the guidance of the financial protection task force.

Need for the study: Developing countries like India have been more vulnerable to terrorism and financial scams over the last four decades. Despite the establishment of regulating bodies and anti-money laundering acts, this problem continued to be a national threat. Therefore, examining the impact of money laundering and terrorism finance on the Indian economy is necessary.

Methodology: This study is based on secondary data gathered from the web portals of government agencies and international organisations dealing with money laundering and terror funding. Newspapers, journals, and annual reports are reviewed to identify the modus operandi of money laundering operators and their impact on the economy.

Findings: Money laundering and terrorism financing significantly threaten the Indian economy and national security. Despite different anti-money laundering laws and multiple regulating authorities, the system has pitfalls that allow economic fraud and money transactions for terrorist activities. There is a need for cyber security, and integrated enforcement agencies to combat money laundering at national and international levels.

Practical implications: This study would be helpful for academicians and policymakers to understand the nexus of money laundering and terrorism financing and its impacts on the Indian economy.

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-83753-416-6

Keywords

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