Search

The study aims to capture the mediating effect of technical efficiency on the relationship between credit risk and financial performance in the Indian banking sector. This paper is based on secondary data extracted from the financial reports of commercial banks operating in India for the year 2021-22. Simple mediation analysis is used to analyze the data. The technique of data envelopment analysis (DEA) was deployed to calculate technical efficiency score. The findings show that credit risk has a negative and significant relationship with both financial performance and technical efficiency when taken alone as an independent variable. Overall, the results show that technical efficiency fully mediates the relationship between credit risk and banks' profitability. The mediating effect suggests that scheduled commercial banks operating in India can achieve both technical efficiency and good financial performance through vigilant supervision of credit risk. With specific reference to India, such empirical work showing the mediating effect of technical efficiency on financial performance and credit risk has not been taken up before. The findings of the study are expected to provide a better understanding of the role of managing nonperforming assets in determining technical efficiency and financial performance. [ABSTRACT FROM AUTHOR]

In India, Goods and Services Tax (GST), introduced on July 1, 2017, has immensely affected the functioning and financial performance of different manufacturing companies. DuPont analysis model is used in this paper for scrutinizing the essential financial performance of such companies. It is an expedient system for decomposing the different drivers of Return on Equity (ROE) that help investors to focus on the key financial aspects, demonstrating the strengths and weaknesses of different companies. The study empirically analyzes the impact of GST on the financial performance of selected manufacturing companies in India, using five-step DuPont model, whereby the Net Income Margin has been brokendown to demonstrate how tax and interest affect ROE, considering financial performance before and after implementation of GST. Moreover, statistical tools like mean, standard deviation, paired correlation, matrix paired t-test and ANOVA test have been used to analyze the data and justify the objectives of the study. [ABSTRACT FROM AUTHOR]

Indian companies have participated in the worldwide trend of consolidation through cross-border mergers and acquisitions (M&As). During the last decade, there has been a sharp and consistent increase in the number of M&As in India. The paper explores the impact of cross-border M&A on firm performance and financial distress of selected cases in India from diverse sectors. The motive is to get a clear understanding as to whether the cross-border M&As actually lead to improvement in growth, profitability and efficiency of Indian corporate firms, and also whether it helps in reducing their financial distress. For this purpose, the paper has focused on a sample of nine large cross-border M&As in India from different sectors. It is found that these M&As have been effective in improving the firm performance and financial distress in some cases, whereas it has led to increased distress and reduced performance in others. [ABSTRACT FROM AUTHOR]

The paper investigates whether there is evidence to support the concept that variations in observed ownership structures across firms result in methodical variations in observed financial performance in the Indian market. The study assesses the impact of ownership structure on corporate performance measured by both the market-based measures (Tobin’s Q, MBVR and MVA) and accounting-based measures (ROA, ROCE and ROE) of 178 NSE CNX listed nonfinancial companies for a period of 8 years from 2011 to 2018. Two different aspects of ownership structure are considered, i.e., concentration and owner identity. The results of the study could help the Indian companies, regulators, policymakers, and practitioners to adopt and sustain good corporate governance practices for value creation and for making them ready to meet the future changes. [ABSTRACT FROM AUTHOR]

Primary (Urban) Cooperative Banks (UCBs) in India operate under the provisions of the Banking Regulation Act of 1949 - As Applicable to Cooperative Societies (AACS). Considering the large heterogeneity in their asset sizes and the absence of any regulatory cap on their leverages, the principal objective of this paper is to understand the interrelationship of their leverage and scale of operations with financial performance. The analysis, based on a three-year pooled data sample of 140 well-distributed UCBs, shows a significant difference across the capital adequacy, leverage and Net Interest Margin (NIM), based on the scale of operations, but due to heterogeneous and skewed distribution of UCBs in terms of asset size, the impact of the scale of operations on the financial performance does not manifest very clearly. It, however, shows that the scale of operations is unrelated to the incidence of non-performing advances. Further, UCBs with higher leverages do not show superior financial performance in terms of key financial variables. However, banks with higher leverage do gain in terms of their Return on Equity (ROE). These findings provide nuanced guidance to the UCBs and are also useful for regulatory policymaking on the subject. [ABSTRACT FROM AUTHOR]

Built-in jeopardy in the operations of banks due to their fiduciary responsibility, high leverage, and liquidity gaps necessitates that their financial position and performance remain stable and healthy. The regulatory nudge towards capital adequacy for banks has been intended to make them financially sound. While academic research on the relationship between capital adequacy and financial performance of banks remains inconclusive, this paper reexamines the subject from the angle of intra-group differences in the financial performance of banks in relation to their level of capital adequacy. The study finds that the scheduled Urban Cooperative Banks (UCBs) in India with poor capital adequacy, or with capital ratios slightly above the regulatory minimum, do not exhibit better performance in any of the select financial parameters than their other counterparts, and show inferior performance against certain parameters. However, banks with very high capital ratios operate with higher margins but fail to efficiently leverage their capital funds. This study indicates that an optimum level of capital adequacy of around 15% is best suited, along with an equity multiplier of 15. This may help the scheduled UCBs to improve their return on equity, and strengthen their financial soundness and performance. [ABSTRACT FROM AUTHOR]

This paper addresses the aspect of detection of dissimilarity (in terms of 10 performance indicators) existing among major Indian banks. Towards attainment of the goal the wellknown Multidimensional Scaling (MDS) approach has been employed. The interesting outcome of the paper is that the MDS technique is capable of discerning the dissimilarity (in relative terms) existing in the overall performance behavior (based on a number of relevant performance parameters) in the case of 37 leading Indian banks during the period 2004-05 to 2013-14 based on data obtained on yearly basis for this purpose. The dynamics of the overall performance behavior over time (year after year) during the above-mentioned period with respect to the parameters studied has been obtained. MDS analysis reveals that the four banks-SBI, ICICI, AXIS and PNB-differ significantly from the other 33 banks in each year in the mentioned period. Thus, MDS approach brings out an important feature related to inter-banks' differentiating status where a comparison of different banks is performed with the help of several attributes or performance indicators. In the introduction section, an exhaustive and interesting review of the major research works undertaken on the performance of Indian banks (available in literature as surveyed by us) has been presented. [ABSTRACT FROM AUTHOR]

The paper intends to measure the effects of Mergers & Acquisitions (M&As) on the stock prices and Financial Performance (FP) of the acquirer banks in India. A list of 28 M&As concerning acquirer banks registered on the National Stock Exchange (NSE), is used in this study. Event study analysis is used to gauge the outcome of M&As announcement on the market price of the banking company's share, which measures the wealth creation of acquiring firm's shareholders. DuPont (DP) analysis is used for the purpose of analyzing the FP of merged firm, but it failed to show any significant impact post merger in terms of Return on Assets (ROA), Return on Equity (ROE), net-profit margin, financial leverage and asset turnover. The fallouts designate that the market reacted negatively towards the M&As in banking sector of India, and also show a corrosion in the performances of the acquirer banks in the post-merger period. [ABSTRACT FROM AUTHOR]

Weather-based financial instruments have gained huge popularity in the recent past for hedging weather or climate-related risk across sectors in many economies. Among developing countries, India was one of the pioneers to apply the concept of weather hedging through financial instruments in agriculture. However, although advocated by many, India is yet to explore the use and efficiency of similar instruments in any other sector, including power, whose financial performance is also highly exposed to weather fluctuations. This paper aims to assess the efficiency of temperature derivative at micro level from the perspective of an Indian power distributor. The responsiveness of power demand towards temperature fluctuation is estimated and a suitable temperature derivative product is developed for mitigation purpose. This instrument is priced using discrete time series modeling of daily temperature incorporating a trend in the mean, a lower order Fourier series with autoregressive (AR) component in the presence of Generalized Autoregressive Conditional Heteroskedasticity (GARCH). The efficiency of the instrument is judged through simulating the performance of the power trader with and without the weather derivative. The study reveals that even under current semi-administrative pricing structure that exists in Indian power sector, the volumetric risk arising from temperature fluctuation can be successfully hedged using weather derivative. [ABSTRACT FROM AUTHOR]

The Indian banking industry has passed through various phases of change marking its development. Performance of the commercial banks is an important indicator of the state and growth of the banking system in India which can be measured in different terms. This paper makes an attempt to analyze the performance of the four major banks in India, namely, Punjab National Bank (PNB), State Bank of India (SBI), ICICI Bank and HDFC Bank, for the period 2009-2014. The paper analyzes the impact of various performance parameters on the performance of the selected banks using secondary data. The performance of the banks has been measured using different ratios, and regression analysis has been applied to find the factors predominantly affecting the performance of the banks. The results show that net NPA ratio as a percentage of loans, savings deposit as a percentage of total deposits, priority sector advances as a percentage of total advances and total income as a percentage of capital employed are the factors predominantly affecting the performance of banks. [ABSTRACT FROM AUTHOR]

This paper reviews the relevant literature on institutional investment and firm performance in India. It discusses the development of institutional investments in general under different segments like ownership and firm performance, role of large shareholders, and institutions as large shareholders in influencing corporate governance, reducing agency costs and affecting firm performance. It then discusses the monitoring role of institutional investors and the cost and benefits of monitoring. It also describes institutional investment in India and segments it into different groups of institutions and summarizes the extant studies in each category, i.e., mutual funds, banks and financial institutions, and foreign financial institutions. The paper shows that studies have reported divergent results in the context of developed economies. Although the history of institutional investment in India is short and the number of research in the Indian context is limited, they report evidence of monitoring. While the influence of mutual funds and banks is not clear, recent studies have argued that foreign institutional investors' shareholding has a positive influence on firm performance. [ABSTRACT FROM AUTHOR]

To maintain healthy banking practices, the Reserve Bank of India formulates and executes a monetary policy with clear-cut goals and tools to be used. Monetary policy is one of the important tools of economic management in India. This paper makes an attempt to study whether policy rates have any impact on BSE Bankex. The relationship between the Banking index and various banking reserve rates is determined using correlation and multiple regression analyses. BSE-Bankex is used as a representative for banking index, whereas Cash Reserve Ratio (CRR), Repo Rate (RR) and Reverse Repo Rate (RRR) are used for banking reserve rates. The study is descriptive and empirical in nature. The data is collected through secondary sources, mostly through websites and RBI reports. The findings reveal that the policy rates do not have a significant impact on BSE Bankex. [ABSTRACT FROM AUTHOR]

The paper examines whether board diversity improves corporate performance by considering different parameters of diversity such as gender, age, tenure, nationality, educational background and experience of the directors. No significant link between board heterogeneity and financial performance in Indian firms is found. The possible explanation for this may be that diversity in teams often leads to conflicts, adversely affecting performance unless properly managed. [ABSTRACT FROM AUTHOR]

This paper focuses on the financial performance measures of business group companies of Indian non-metallic mineral products industries. The study uses financial data of 57 business group companies of Indian nonmetallic mineral products industries (cement, glass, gems & jewellery, refractories, ceramic tiles, abrasives and granite) over a time period of 10 years (1999-2008) and examines the firm's financial performance using performance measures—Operating Profit (OPPRO) and Return On Net Worth (RONW). The Size (SIZE), Leverage (LEV), Working Capital Ratio (WCR) and Age (AGE) of the firm are included as determinants of firm performance. Non-metallic mineral product category consists of important industries of the manufacturing sector (which contributes almost 15% to the GDP) and 3-4% to the GDP. This study tries to see the performance of business group firms in different business cycles. [ABSTRACT FROM AUTHOR]

In India, Global Compact (GC) is accepted with great appreciation and has achieved large participation that enabled it to create an advanced network structure. However, GC failed to involve all business houses into its network due to the partial acceptance of multi-stakeholder approach. Apart from this, non-communicating and non-reporting behavior of the participants was observed and analyzed in detail in the paper. Several reasons like lack of resources with firms, lack of understanding the need and importance of the initiative while implementing into the core business processes, and change in the upper-level management which may lead to the discontinuation of existing Corporate Social Responsibility (CSR) policies were identified for the non-responsive behavior of participating firms. Inconsistent records of local networks and non-responsive nature of Indian networks were also found to be the problem areas of GC that must be looked into by UN. The paper focuses on the firms' commitment and sincerity towards GC principles. It assesses and highlights the actual growth rate of Indian CSR agenda while associating with GC. [ABSTRACT FROM AUTHOR]

Corporate Social Responsibility (CSR) is well recognized across the world as various international bodies, government authorities and regulators are taking cognizance of the matter and framing guidelines to be adopted by the corporate. The social concern of corporate has taken the front seat in the forum of issues related with good governance practices to achieve sustainability. But still the type of industry for which CSR is relevant is under question. The present paper attempts to answer the question by determining the impact of CSR on the financial performance of the banks. It uses regression analysis to determine the impact of CSR expenditure on the financial performance of banks, measured using Profit After Tax (PAT), Return on Assets (ROA), Return on Equity (ROE) and market capitalization of the banks. As a result of the study, a validated model is developed, which shows a positive relationship between CSR expenditure and different measures of financial performance while firm size is controlled. [ABSTRACT FROM AUTHOR]

This paper attempts to examine the relationship between financial performance and their determinants in the case of Indian life insurance sector. This study is carried out using panel data of 10 companies for 10 years from 2005 to 2014. The financial performance is indicated by Return on Assets (ROA) and the independent variables chosen are claims ratio, growth in gross premiums, leverage, liquidity, capital, size, solvency, risk retention ratio and tangibility. Multicollinearity test is applied and found that leverage has a strong correlation with other independent variables and hence eliminated from the model. The results of panel regression test point that liquidity, size, solvency and risk retention ratio are not significantly related to financial performance and claims ratio, growth in gross premiums, capital and tangibility are negatively related to financial performance. [ABSTRACT FROM AUTHOR]

The present paper examines the impact of Mergers and Acquisitions (M&As) on the financial efficiency of selected banks in India. The post-M&A performance is measuredusing the ratio analysis. The main focus is on the overall profitability parameters, liquidity parameters, solvency parameters and overall efficiency parameters. We found significant change in the earnings of the shareholders; a little change in liquidity position; significant change in the long-term solvency position of the firms; and significant change in the overall efficiency of the banks during the post-merger period 2008-2013. The results of the study indicate that M&As in India have significant impact on the financial performance of banks and that the acquiring firms were able to generate value. [ABSTRACT FROM AUTHOR]

Internet banking is a convenient way to avoid the queue or delays and try simple and secure e-banking facility for an unmatched experience of banking from the comfort of one's home or office. From literature, it is found that technological readiness is a good predictor of technology-related behavior, and therefore knowing the technology readiness of customers could assist a business in developing its technology strategy as well as the way in which it manages the link between customer and technology. This paper makes an attempt to find out the Technology Readiness Index (TRI) of different categories of respondents--consumers and bank employees--to enable bankers to come out with their strategies. [ABSTRACT FROM AUTHOR]

Indian economic growth is largely supported by the banking sector. Profitability of a bank depends on the amount of capital available with the bank for business activities. Public sector banks are largely funded by the government and hence the equity component in the share capital is quite less than that of private sector banks. The question is how efficiently the capital is used. Are the profitability ratios true reflections of the performance of a bank? In the present paper, the top 12 banks that form the BSE Bankex are selected to study the performance of the banking sector in India in the last six years. The performance of the banks was studied using DuPont model, as DuPont analysis provides much deeper understanding on the efficiency of the bank. The findings reveal that the performance of the bank cannot be judged by profit or some ratios alone and that the banks that made more profits were not really efficient. [ABSTRACT FROM AUTHOR]

Banking sector plays a critical role in the financial health of a nation. The banking system of India features a large network of bank branches, offering many kinds of financial services to the people. This paper evaluates and compares the financial performances of State Bank of India (SBI), Bank of Baroda (BOB), ICICI Bank and Axis Bank by comparing various ratios. The research is descriptive and analytical in nature. The data used for the study was entirely secondary in nature and was taken from the financial reports of the respective banks for the period 2008-09 to 2013-14. The study found that SBI and BOB are performing better than ICICI Bank and Axis Bank, but when it comes to expenditure, private banks are spending more than public sector banks. Based on the findings, the study reveals that bank customers have more trust in public sector banks compared to private sector banks. [ABSTRACT FROM AUTHOR]

One of the major measures of economic development and financial growth of a country has been the sound performance of its banks. This paper makes an attempt to analyze the financial performance of the Indian banking sector using CAMEL model, and also identifies the factors that predominantly affect the financial performance of the banks. The results show that profit per employee, total advances-to-total deposits ratio, debt-equity ratio, capital adequacy ratio and total investments-to-total assets ratio are the most impacting factors on the performance of the banks, causing 96% of the variance in the return on assets of the banks. However, profit per employee is the most impacting factor as it individually contributes 67.5% variance in the return on assets of the banks. [ABSTRACT FROM AUTHOR]

The paper examines the effectiveness of mergers as used by the corporate bodies as one of the strategic tools in improving post-merger financial performance. A comparative analysis of some selected Indian pharmaceutical companies' pre- and post-merger financial performance was conducted on the basis of different financial parameters. Exact binomial tests, nonparametric Mann-Whitney tests and nonparametric Wilcoxon signed rank tests were performed on the collected data. The study concludes that mergers are not so effective in making a useful contribution to improving the post-merger financial performance of the selected companies. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine the impact of corporate governance on firm's financial performance in the Indian context. The study is based on the 121 companies listed on the Bombay Stock Exchange (BSE), India, for the period 2010- 2011. It is based on a self-designed structured questionnaire. The study highlights the significance of transparency disclosure and good governance policies of the firm and the relative advantage thereof to the firm in the Indian context for the first time to the best of our knowledge. Distinct from previous empirical research, it develops its own index to measure the transparency and level of disclosure. Tamhane T2 post hoc test is also applied for the first time in the study related to corporate governance. The study finds a positive and significant relationship between the level of transparency and firm's financial performance. Similarly, corporate governance policies and practices of the firm are also found to be positively related to firm performance. The results also suggest that corporate governance policies and transparency and disclosure are positively and significantly correlated. [ABSTRACT FROM AUTHOR]

Corporate Social Responsibility (CSR) is a tool used by the corporate to live up to the people's demand that organizations be more responsible to the environment they operate in. This paper makes a humble attempt to examine the impact of CSR on Corporate Sustainability (CS), defined in terms of an organization's financial performance, in the Indian banking industry. It tries to draw a relationship between CSR rating and an organization's financial performance indicators like Profit After Tax (PAT) and Earnings Per Share (EPS) after controlling for the effect of other variables like size of the organization (defined in terms of assets) and age of the organization (defined in terms of difference between the year of establishment and year of survey). The study would find relevance as it tries to sensitize the managers in the banking sector or any other organization to probe further and deeper to understand the impact of CSR on their sustainability while taking decisions about investing in CSR areas. [ABSTRACT FROM AUTHOR]

The purpose of this study is twofold: first, it investigates the impact of Corporate Social Responsibility (CSR) on Financial Performance (FP) in BSE listed Indian companies; second, it examines which of the five dimensions selected for the study, viz., Value-Added Measure (VAM), Market Measure (MM), Growth Measure (GM), Earning Measure (EM) and Profitability Measure (PM), plays a mediating role in the relationship between CSR and FP. The sample comprises 471 companies. The data was sourced from CMIE Prowess IQ repository for a period of 5 years from 2015 to 2020. Structural Equation Modeling was administered to study the impact of CSR on each of the five dimensions of FP. The key findings are: (1) CSR has a positive impact on all dimensions of FP; (2) the impact of CSR investment is highest on value added measures; and (3) the positive impact of CSR on FP indicators holds true across primary, secondary and tertiary sectors. [ABSTRACT FROM AUTHOR]

The debate over performance differential between Public Sector Banks (PSBs)1 and Private Sector Banks (PVBs) in India is not new. The huge performance differential between PSBs and PVBs on GNPA (Gross NPA) of 14.8%/3.8% and Return on Assets (ROA) of -0.7%/1.2% (as of September 20182) continue to narrate the grim performance of PSBs. Through this study, we looked at how banks in India responded to the financial crisis of 2008, and its impact on their performances thereof, with specific focus on whether increased lending by PSBs led to their poor performance in subsequent years. We focused on the asset allocation strategies of banks in India for the period FY 2005-17, which covers the period of financial crisis, and measured their performances through indicators such as ROA, Return on Equity (ROE) and GNPA ratio (GNPAs/Advances). The analysis shows significantly divergent asset allocation paths taken by banks in India post the financial crisis of 2007-08, which shows that the PSBs indeed took the mantle of credit creation in the economy. PSBs significantly increased asset allocation to credit from 2007/08 in contrast to PVBs, and it continued up till FY 2013. Comparison of financial performance post FY 2013 up till FY17 shows significant underperformance of PSBs vis-à-vis PVBs. However, this study did not find any linkage between aggressive credit creation post the financial crisis (during 2007/08-2013) and subsequent poor performance of PSBs. [ABSTRACT FROM AUTHOR]

India is the one of the top 15 largest passenger car markets globally, and is expected to be among the top 10 markets by 2016. Post-liberalization, many foreign manufacturers have set up their operations in India. The latest trend of new cars on the Indian road has led to the emergence of an entirely new market in the pre-owned cars segment. It is expected that the small car segment is set to grow at a Compound Annual Growth Rate (CAGR) of 15-16% in the next five years. Also, the pre-owned car market is set to grow at a CAGR of 18-20% till 2015, and small cars dominate the pre-owned car market as well. Though the unorganized segment dominates the pre-owned car market, the organized market also has been gaining momentum. About 75-80% of the transactions in the pre-owned car segment occur in the unorganized sector, and the organized players account for only 20-25% of the pre-owned car market. This study aims to identify the factors influencing the buying behavior of customers towards the purchase of pre-owned small cars, and to analyze the preference of customers towards the organized and unorganized market during the purchase of pre-owned small cars. 'Budget constraint', 'cheaper than a new car', 'upgradation of driving skills' and 'desire to own a car' were the important factors that influenced the purchase of a pre-owned small car. Clear title, negotiation, and mutual trust were the important reasons for preferring the unorganized market for the purchase of a pre-owned small car, whereas the respondents preferred the organized market due to clear title, professional assistance, genuine spare parts, certification, and easy availability of after-sales service. [ABSTRACT FROM AUTHOR]

The performance measurement of an enterprise is generally done on the basis of important traditional financial ratios and other relevant information. But it is being progressively realized to transform the performance measurement from financial income concept to the value added income concept to highlight the fact that the enterprises, specially Public Sector Enterprises (PSEs) are not set up to contribute towards financial income but are expected to contribute more towards value addition in the society, in terms of the stated policy objectives. This paper makes an attempt to evaluate the performance of 20 selected PSEs in India, taking five each from four core public sectors for the period from 1999-2000 to 2008-09. For measuring the performance of the selected PSEs, the amount of value addition and eight important ratios relating to value added statement have been used with the help of some statistical tools like Mean, Standard Deviation, Coefficient of Variation and ultimate rank based on a combined rank. In order to measure the performance of the selected PSEs more precisely, a comprehensive test has been done using the process of 'final ranking' to arrive at a comprehensive measure of performance in which the ultimate ranks of eight selected ratios have been combined in a point score. [ABSTRACT FROM AUTHOR]

The present paper intends to study the changing structure and performance of the Indian registered manufacturing sector from 1980-81 to 2003-04 at two-digit level of industrial classification. To analyze the structure and performance, trend growth rates and structural ratios have been calculated. The study period has been divided into two parts, pre-reform period (1980-81 to 1990-91) and the post-reform period (1991-92 to 2003-04). Further, to understand the pattern of performance at a more disaggregated level, the post-reform period has been divided into two parts, early part of the post-reform period (1991-92 to 1999- 2000) and the later part of the post-reform period (2000-01 to 2003-04). Using the Annual Survey of Industries (ASI) data, the study found, there has been industrial slowdown during the later part of the post-reform period. And as far as the performance of the manufacturing sector is concerned, it has been at its best during the 1990s (1991-92 to 1999-2000). [ABSTRACT FROM AUTHOR]

Shareholder value maximization has become the predominant goal of corporations in India and the world over. This goal has gained further importance and focus in the recent years because of the demands made by financial institutional investors, financial markets and competitors on companies to perform and work towards continuous sustainable growth in shareholders' value. To achieve such goals, it is important for companies to device performance measures that are aligned towards the corporate goal of shareholder value enhancement. Many consulting firms have come up with different measures of performance such as Economic Value Added (EVA), cash flow return on investment, and Total Shareholder Return (TSR) to cater to the above need. Of these measures, EVA has become popular in India. The proponents of EVA, Stern Stewart and Co., claim that EVA is superior to other metrics, as it is the financial performance measure that comes closer than any other measure, in capturing the true economic profit of an enterprise, helps managers to make better decisions and motivates them to perform better. A plethora of academic research studies verifying the claims of the proponents have been conducted. The objective of this paper is to present different performance measures available, classify empirical studies carried out on EVA, focus on studies that evaluate the superiority of EVA over other measures, its utility and application, present their findings, and examine the possible reasons for inconsistency in the findings, methodology adopted for study and suggest avenues for future research in this area. This is done through a review of literature of the past two decades. [ABSTRACT FROM AUTHOR]

India is a developing country, and long-term investments are essential for the development and growth of the country. Insurance industry in India, being an attractive destination for foreign players, has been witnessing a large number of cross-border mergers and acquisitions. Even the Foreign Direct Investment (FDI) cap has been increased from 26% to 49% and now to 74%. Still this has not satisfied the demand of the sector, and now again the demand for 100% FDI is raised in the insurance sector. Thus, this study examines the impact of FDI on the financial performance of life insurance companies. For that the financial performance of FDI-based and non-FDI-based life insurance companies are compared using CARAMEL model which includes Capital Adequacy, Asset Quality, Reinsurance and Actuarial Issues, Management Soundness, Earnings and Profitability, and Liquidity. These variables are taken as dependent variables and type of company (FDI-based and non-FDI-based) is taken as the independent variable. The study is based on secondary data, and Mann-Whitney test and ANOVA test are used for analysis. The results suggest that FDI has a significant impact on life insurance companies and FDI-based life insurance companies perform better than non-FDI based life insurance companies in terms of capital adequacy, management soundness and earnings and profitability. [ABSTRACT FROM AUTHOR]

Women constitute half of the potential talent throughout the world and therefore it is important that they should lead on the economic and social fronts. Many countries across the world have realized that sustainable development of the country is possible only if they make optimum utilization of this talent pool as well. Section 149 of the Companies Act, 2013 and Clause 49 of SEBI guidelines mandated all listed companies in India to appoint at least one woman director from April 1, 2015 in a bid to bring in gender diversity on the boards in India. The percentage of women attending colleges, postgraduating and obtaining doctorate degrees has increased in the last decade in India. However, still the Indian corporate boards find it tough to find and appoint qualified women directors. The old boys' club is still predominant in the Indian boardrooms and still resisting accepting women at leadership positions in the corporate world. Gender diversity in the boardroom is not only about fair treatment but also about tapping the potential talent which is essential for the sustainable development of the organization and the world at large. Several research studies across the world have found a positive impact of gender diversity at the board level on the financial performance of the company. In this regard, this study was conducted with 14 NSE- listed companies of mining and minerals sector of India. The study found that women were either not represented at board level or underrepresented before the quota system was introduced under the Companies Act, 2013. The study further examined the financial performance of companies before and after the mandatory requirement of appointment of at least one woman director on board, over the period of four consecutive financial years from 2013 to 2017, which revealed that the presence of women directors on boards did not significantly impact the financial performance of companies. [ABSTRACT FROM AUTHOR]

Global market integration and increase in trading activities have magnified the financial system complexities and increased the degree of riskiness. Value-at-Risk (VaR) has been universally accepted as a measure of market risk in financial institutions. In this study, using the data of NSE-Nifty Bank Index and indices of SBI and ICICI Bank over a sample period from January 3, 2005 to November 19, 2014, an attempt has been made to analyze the market exposure in Indian banking industry by employing various methods of VaR. The study reveals that there is greater market turbulence during the financial crisis period than the pre- and post-crisis periods through all the three techniques of VaR. Moreover, bifurcating the full sample into three sub-samples (pre-crisis, crisis and post-crisis periods) seems to assure robustness, thereby validating the applicability of VaR methods for the Indian banking sector. Further, backtesting through Kupiec test revealed that historical simulation approach accounts for less statistical noise than other methods of estimating VaR. [ABSTRACT FROM AUTHOR]

Banking sector plays an important role in the economic development of a country. In India, Eagles model is capable of measuring and comparing banks' performance in a more determinate, objective and consistent manner. There is no subjectivity involved in Eagles model, and the banks are judged purely on the output ratios and ranked based on these parameters. The present study uses 10 years' data of selected 10 public and private sector banks. The results reveal that Yes Bank is in top position in terms of Return on Assets (ROA), gross NPA, and Provision Coverage Ratio (PCR). This indicates that Yes Bank has more earning capacity as compared to the remaining selected banks. Kotak Mahindra Bank is also performing efficiently in terms of investment-to-deposit and Capital Adequacy Ratio (CAR), which indicates that private sector banks are performing well as compared to public sector banks. Among public sector banks, State Bank of India is performing efficiently in loans and deposits component. The study proves that there is a significant difference in the performance of selected public and private sector banks. [ABSTRACT FROM AUTHOR]

Public sector is a vital part of Indian economy. It contributes enormously to the advancement of the infrastructure of the country. Due to the measures relating to deregulation, globalization and liberalization adopted by the Central Government, Indian public sector has experienced a paradigm shift from its previous state. In fact, in order to survive in today's hi-tech competitive environment, public sector enterprises have to reorient their policies. A large number of researches have been undertaken to evaluate individually the different aspects of the financial performance of public sector enterprises. However, no comprehensive study for measuring the overall financial performance has been made in the recent past. The present study is a serious attempt to measure the overall financial performance of 10 selected companies in Indian public sector during the period 1997-98 to 2011-12. Relevant statistical tools and techniques have been used for data analysis. [ABSTRACT FROM AUTHOR]

During the last two decades, deregulation, globalization and liberalization measures adopted by the central government have made a paradigm change in the FMCG sector. In the post-reform period, foreign direct and portfolio investments in Indian FMCG sector have notably influenced the financial performance of the companies belonging to this fourth largest sector in the Indian economy. The present study seeks to measure the changing status of the overall financial performance of 16 selected companies in the Indian FMCG sector. In order to identify the change with respect to financial performance more accurately, the entire study period from 1993-94 to 2012-13, i.e., 20 years, has been subdivided into two phases (Phase I representing the period from 1993-94 to 2002-03 and Phase II representing the period from 2003-04 to 2012-13). Any improvement or deterioration with respect to overall financial performance of each company has been measured by making a comparison between the overall financial performance of Phase I and Phase II, by using relevant statistical techniques and tests. [ABSTRACT FROM AUTHOR]