SPOT AND FUTURES MARKETS: RESEARCH OBJECTIVE

RESEARCH OBJECTIVE

First, an attempt has been made to estimate the volatility of spot and derivatives, i.e. futures markets separately in different modeling framework. Initially, time invariant measure of volatility tests like standard deviation, skewness and kurtosis are derived and compared for both the markets amongst different asset classes. Since it is a well established fact now that the time varying nature of volatility can be well captured in ARCH family of models, an effort has been made to estimate the volatility of both spot and futures markets utilizing different ARCH family of models. Then the forecasting power of different models are tested through different forecasting measures in order to find out the model with lowest forecasting error or maximum predictive accuracy. By comparing the return volatility in spot and derivatives markets, it is possible to find out whether the spot market possesses higher volatility compared to the derivatives market or vice versa.

Continue reading

SPOT AND FUTURES MARKETS: LITERATURE REVIEW

LITERATURE REVIEW

There is a vast amount of literature on modeling as well as measuring the volatility of asset returns all over the world. Since our focus is mainly on the ARCH family of models, most of the literature reviewed in this section dealt with these models. The study relating to the estimation of volatility either in spot or derivatives markets includes Choudhury (1997), Speight et al. (2000), Lin B.H. et al (2000), Duarte (2001), Fung et al (2001), Peters (2001), Claessen and Mittnik (2002), Jacobsena and Dannenburg (2003), Bresczynski and Weife (2004), Malmsten and Terasvirta (2004) etc. All these studies are dealt with the modeling and estimation of volatility either in spot or in derivatives markets or in both.

Continue reading

SPOT AND FUTURES MARKETS: INTRODUCTION

INTRODUCTION

Indian capital markets have witnessed major transformations and structural changes since past one or two decades as a result of initiation of liberalization, privatization and globalization policies and consequential financial sector reforms. Introduction of derivative instruments like index futures, index options, stock options and stock futures in a phased manner starting from June 2000 in Indian stock exchanges is one such important step in the right direction, the aim of which was to abolish age old badla transaction, greater stabilization of markets and introduction of sophisticated risk management tools. Worldwide, the futures trading on stock markets has grown rapidly since their introduction because it has contributed in achieving economic functions such as price discovery, portfolio diversification, enhanced liquidity, speculation and hedging against the risk of adverse price movements.

Continue reading

FACULTY MEMBERS OF TECHNICAL EDUCATION OF INDIA: CONCLUSIONS

CONCLUSIONS

The study set out to develop a theory-driven multi-dimensional measure of organizational climate and then its impact on turnover intention of faculty members of technical educational institutes of India. The result of this empirical investigation support that organizational climate has a significant impact on turnover intention of faculty members. The study results revealed that orientation and reward management are the two antecedents of organizational climate, which has an inverse significant impact on turnover intention. i.e. if faculty members are clear about the organizational and individual goals and rewards within the institute is properly managed than it is less likely for the them to quit the organization.

Continue reading

FACULTY MEMBERS OF TECHNICAL EDUCATION OF INDIA: VALIDITY

VALIDITY

The 18 items were subjected to a principal component analysis with varimax rotation, the results of which are shown in Table 4. In line with expectations, the factor analysis yielded four components corresponding to the five variables. The result of factor analysis shows that Zb Z2 and Z3 items of turnover intention are loaded under 3rd component with high loading values of 0.812, 0.827 and 0.824. Xi, X2 & X3 variables i.e. Orientation, Supervision and Communication are loaded under 1st component. As loadings of orientation items X11, X12, X13 are 0.823, 0.784 & 0.797 respectively is high as compared to supervision & communication items, it is only considered for further analysis.

Continue reading

FACULTY MEMBERS OF TECHNICAL EDUCATION OF INDIA: RESEARCH HYPOTHESIS

RESEARCH HYPOTHESIS

Based on the above literature and the study of Litwin & Stringer (1968), which depicts the relationship between the five antecedents of organizational culture and turnover intention. The hypothesis generated based on literature review is tested on the sample population of faculty members of technical educational institutes of India. This study seeks to test the following hypotheses:
H1: Orientation has a significant impact on turnover intention of faculty members.
H2: Supervision has a significant impact on turnover intention of faculty members.
H3: Communication has a significant impact on turnover intention of faculty members.
H4: Decision Making has a significant impact on turnover intention of faculty members.
H5: Reward Management has a significant impact on turnover intention of faculty members.

Continue reading

FACULTY MEMBERS OF TECHNICAL EDUCATION OF INDIA: LITERATURE REVIEW

Organizational Climate

Organizational climate is a concept of employees’ attitude and feelings towards their organization which has great impact towards their working ways and contributions; in consequence organizational climate causes organization performance because this relates directly to employees’ satisfaction and commitment towards organization.

Continue reading

FACULTY MEMBERS OF TECHNICAL EDUCATION OF INDIA: INTRODUCTION

INTRODUCTION

Organizational Climate is a very important concept to study and to understand in the realm of organizational behavior. The origin and the use of this concept is as old as the original concept of management itself. However, since many decades various frameworks of organizational climate has been developed both conceptual as well as operational under different sets of situations and their research findings are highly diverse and often contradictory in nature.

Continue reading

DETERMINANTS OF PERCEIVED FLOW: PERCEIVED USER TRUST

USER TRUST

Based on Wang, Wang, Lin, and Tang (2003), perceived credibility or trust is defined as the extent to which a person believes that using mobile service will be free of security and privacy threats. Trust will reduce perceived uncertainty and risks, thus reduce the effort spend on monitoring the mobile service provider, subsequently enhancing users’ perceived control (Pavlou, Liang, & Xue, 2007) and improving their experience. Doney and Cannon (1997) viewed trust as a set of specific beliefs dealing primarily with the integrity, benevolence and ability of another party, in this case the mobile service providers, further affecting their experiences. If users trust mobile service providers, they expect positive future experiences (Kim, Shin, & Lee, 2009). The effect of trust on flow experience has been supported by Wu and Chang (2005) that trust affects the online travel community users’ flow experience. Accordingly, it is proposed that:
H5. Perceived user trust is a determinant of perceived flow.

Continue reading

Pages: 1 2 3 Next