In recent years, globalisation, economic assimilation and integration among countries and their financial markets have increased interdependency among major world stock markets. This increased interdependency among the worldwide stock markets may have impacts on the global investors for their assets allocation decision and on the economic policies of economies for ensuring economic stability. Hence, there is a need to study the extent of integration among the world stock markets which is the objective of this paper. It examines the relationships between the selected Asian and the US stock markets over a period, 19/10/1999 to 25/04/2008, using daily closing data of twelve stock markets. Results of the present study show that stock markets under study are integrated. The degree of correlation between the markets, but Japan, varies between moderate to very high. Furthermore, it provided that no stock market is playing a very dominant role in influencing other markets. The US influence is not noticeable as in the earlier researches. It is expected that the results will be useful for the global investors in managing their international portfolios.
Commodities play a vital role in the development of emerging economies, like India. From this perspective, the study presents dynamic correlation in the prices of gold, crude oil, exchange rate and Indian stock market from April 01, 2014 to March 28, 2018. VARMA-BEKK-GARCH model is estimated for return and volatility spillovers across markets. Bidirectional returns spillover was found between Nifty and WTI and WTI and Gold pair. Whereas the bidirectional volatility spillover between Nifty and Gold pair. From the DCC-GARCH correlational analysis, Gold was found to be effective hedging commodity for Indian stock investors than Crude Oil. The asymmetric impact of shocks in covariance is observed between Nifty 50 and all other variables. The study focuses to aid investors and portfolio diversifiers while taking investment decisions.
In developing nations like India, entrepreneurship can be a solution of many economy-related problems; to achieve this, high level of entrepreneurial intensity (EI) is to be ensured. EI measures the focus and commitment of an entrepreneur towards his/her venture. It can influence performance of firms, provide sustainable advantage to individuals, societies etc. The state of Jammu and Kashmir (J&K) is facing issues like low GDP and high unemployment. High level of EI, especially among women, can provide solution to many of its problems. So, the present endeavour assesses the level of intensity among the women entrepreneurs and then suggests some measures to enhance the same. The results of the study show that innovativeness, pro-activeness, risk-taking, competitive aggressiveness and autonomy, which are taken as the basic postulates of EI in study, show significant loading. Although women entrepreneurs tend to show pro-activeness and competitive aggressiveness strongly, it is innovativeness, risk-taking and autonomy are not good fit. This study proposes a model for training for the women entrepreneurs to improve their level of EI to accelerate the growth of entrepreneurship in the state. This will in turn enhance the overall economic growth of the state.
Shariah indices can be used to construct socially reliable investment products that are attractive for those, who do not wish to invest in undesired business. National Stock Exchange of India introduced Nifty 50 Shariah and Nifty 500 Shariah indices to provide alternative i The study is an attempt to reveal the relationship between Nifty 50 Shariah and Nifty 500 Shariah with their underlying indices, Nifty 50 and Nifty 500.For this purpose a period of 01/01/2007 to 31/12/2015 is taken. Based on various objectives, techniques like Descriptive statistics, Correlation, Co 3SLS and GMM estimation are used. It is concluded that return of Shariah Indices are better and risk is lesser, than underlying indices. These indices are the better option for portfolios.
The combination of entrepreneurship and strategic management, called strategic entrepreneurship, is still in its infancy, as Hitt et al. proposed it in the year 2001. Since then researchers have continuously pushed their limits to explore it on different fronts and domains. But, so far, a mutual consent on what actually constitutes it has not been achieved. In developing nations like India, this concept presents huge opportunities for researchers to explore it on different dimensions and domains. Specifically talking about the state of Jammu and Kashmir ( J & K) where entrepreneurship was once considered to be a male-dominated field, this concept presents huge opportunities for researchers to fill in the gap. The aim of the present study is to develop and validate a scale which can be used to assess strategic entrepreneurship among women entrepreneurs of the state of J & K in India. The major takeaway of this study is that innovativeness, entrepreneurial culture, entrepreneurial leadership, entrepreneurial mindset, strategic management of resources and networking significantly load on strategic entrepreneurship. The study proposes a significantly positive relationship between the various dimensions which means a positive variation in one dimension leads to a positive variation in another as well and vice versa. The study provides a scale which can be used for test–retest analysis for future studies on strategic entrepreneurship in the state. This study is of great help to the researchers who want to explore strategic perspective of entrepreneurship among women entrepreneurs.
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