జర్నల్ ఆఫ్ బిజినెస్ & ఫైనాన్షియల్ అఫైర్స్

We give an explicit solution to the perpetual American capped power put option pricing problem in the BlackScholes-Merton Model. The approach is mainly based on free-boundary formulation and verification. For completeness we also give an explicit solution to the perpetual American standard power (_ 1) option pricing problem.

We study historical data of the cargo going through the Guangzhou (GZ) port and related research the relationships between cargo shipments through the GZ port and its relation to domestic and international shipping prices (rates).In turn, we develop a regression based forecasting model based on the data of the GZ cargo port. The second task is to introduce the GZ port, the international dry bulk shipping market; the Chinese coast bulk freight index (CCBFI); and the Baltic dry index (BDI) which reflect domestic and international freight rates respectively. The third task is to make use of the data of the GZ cargo port, CCBFI and BDI from January 2004 to February 2010. The developed model  establishes a multi-linear regression to relate the impact of the previous month BDI and CCBFI on the current GZ port cargo and determine the magnitude of the effect. Second, we establish a time series-regression forecasting model. This requires us to observe and consider including historical data of BDI, CCBFI and GZ cargo and come to a conclusion that relates the impact of BDI and CCBFI on the GZ cargo port. Finally, by developing a two parameter exponentially weighted moving average (EWMA), we obtain forecast with high predictive accuracy.

Executive compensation structures (joined with bank accounting regulations) encouraged the delivery of misleading information booking income “above the line,” however retaining liabilities off the balance sheet. Executives paid with stock options are motivated to increase the market value of shares, and this may be more simply done by increasing reported income than by increasing true profits. Though Sarbanes-Oxley fixed some of the problems that were uncovered in the Enron and associated scandals, it did nothing about stock options. With stock options not being expensed, shareholders frequently were not fully apprised of their cost. This provides durable incentives to pay exorbitant compensation through stock options. However, the use of stock options emboldens bad accounting practices

Financial sector plays a pivotal role in the economic development. It is generally agreed that a strong and healthy banking system is a prerequisite for sustainable economic growth. Banks in India have been undergoing major challenges in the dynamic environment over the past few years as it is evident from several parameters, including No. of offices, No. of employees, Business per employee, Profit per employee, Net Worth, Deposits, Investments, Advances, Interest income, Other income, Interest expended, Operating expenses, Cost of Funds (CoF), Return on advances adjusted to CoF, Wages as % to total expenses, Return on Assets, CRAR and Net NPA ratio In order to resist negative shocks and maintain financial stability, it is important to identify theprofile of the banks. The current study is mainly concerned with the analysis of comparative profiles of Public Banks, Private Banks and Foreign Banks in India during the period of 2006-13 that reflects the impact of new competitive environment on the bank’s performance in terms of various selected parameters. The Data was collected through secondary sources from Trend and Progress Report of RBI and the tool used for data analysis of the profile of bank group wise is Compound Annual Growth Rate (CAGR) which is expressed in percentages. The results have found strong evidence that the Private Sector Banks surpasses the other bank groups and topped the position in all the parameters, while Public Sector Banks and Foreign Banks are just competing for the 2nd and the 3rd position.

Tax e-filing is one of the e-government services that have been adopted by many developed countries today, where the public has to discharge their responsibility to the government via online tax filing. In developing countries like India, due to high perceived risk by the public, a well establish integrated reliable system is required. It is very difficult to implant responsible behavior within a community, if an individual perception of risk of the e-government services is the concern. This paper attempts to develop an understanding of the factors that influence citizens’ adoption of electronic tax filing services. This exploratory study elicited information using a structured questionnaire from 250 respondents from Indore city. The results revealed that the factors like perceived ease of use and perceived usefulness significantly affect the behavioral intention of the citizen towards the adoption of electronic tax filing. The study will serve as a useful guideline for strategic development in promoting e-government services, particularly the e-tax filing service.

Corporate Social Responsibility (CSR) is a subject that divides academic opinion. The current literature on the subject provides a dichotomy of views from the perspective of supporters who argue that businesses do well by doing good. Critics, from mainly the free enterprise movement, argue that CSR is ‘just a fad’ and that by diverting valuable resources into activities that have no direct bearing on a company’s bottom-line is unscrupulous and unprincipled. There is also the argument that CSR engagement place undue burden on SMEs in Africa that can ill afford them while protecting foreign companies. The cost associated with the phenomenon is one of the key reasons for the current position which is also not helped by the lack of scientific measurement of the impact of CSR engagement on a company’s performance. However, there is evidence from CSR literature which supports the view that there are long-run benefits for companies adopting CSR strategies including enhanced reputation, enhanced staff loyalty and cost savings. This paper argues that there is a strong business case for CSR engagement by SMEs in developing countries in spite of the associated costs and concludes that CSR engagement enhances SMEs in developing countries’ social, environmental and financial performance.

During the financial crisis of 2007-2008, the public observed the great economic crisis with the heavy losses in employment, great decrease the prices of new and existing homes, increases in foreclosures on home and business properties and reduction of businesses to increase their size of business activities through the ability to borrow and later to raise funds through the selling of equity instruments and bonds.

Microfinance Institutions (MFIs) play vital role in developing countries. This study is dedicated to inspect the productivity change in microfinance Institutions (MFIs) in the SAARC region. A panel of 85 MFIs with five diamond information status from 2003 to 2011 with annual frequency is investigated in the analysis. Inputs and outputs used in the study are selected on the basis of double bottom line objective of MIF; s. the methodology which we adopt is Malmquist index through DEA software. The study will be helpful to find that whether the MFIs of SAARC countries effectively manage cost efficiency, technical efficiency and scale efficiency? Also the study will guide the MFIs to remove the deficiency (If any) in the above said forms of efficiencies. Also the total productivity change with respect time and country is investigated in the analysis. On average a positive TFP growth of MFIs in the SAARC region is documented except from 2005 to 2006 and 2007 to 2009. The efficiency of these MFIs will be helpful for completion of the financial sector  and will improve the overall competence and growth. The study will be helpful for both welfarist and institutionalisms to achieve their objectives. We found many article related to measure the productivity change in different region but there is limited articles and research work related on SARRC region. This study has been carried out to find either Micro finance institutions are working efficiently or not.