Oct'20


The IUP Journal of Applied Finance

ISSN: 0972-5105

A 'peer reviewed' journal indexed on Cabell's Directory, and also distributed by EBSCO and Proquest Database

It is a quarterly journal that showcases empirical research in applied finance. It provides research papers on Business environment, Trade and free trade agreements, Tariff liberalization, Imports and exports, FDI, Equity markets, Debt markets, Corporate finance, Financial services, Financial risk management, Portfolio management, International finance, Bank efficiency and regulation, Structural transformation, Regulatory efficiency, etc.

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Focus Areas
  • Business Environment
  • Regulatory Environment
  • Equity Markets
  • Debt Market
  • Corporate Finance
  • Financial Services
  • Portfolio Management
  • International Finance
  • Risk Management
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Article   Price (₹) Buy
Predictive Accuracy of Neural Network Model with Multiple Train Functions for Stochastic Stock Indices
50
Capital Structure and Performance of Indian Microfinance Institutions
50
Exploring the Herd Behavior of Investors: A Comparative Study of the Indian and US Stock Markets
50
GST: Prospects and Problems of Textile Retailers in Ahmedabad
50
     
Contents : (Oct 2020)

Predictive Accuracy of Neural Network Model with Multiple Train Functions for Stochastic Stock Indices
Vijay Shankar Pandey and Jitendra Kumar Sharma

Two popular stock indices, i.e., BSE and NSE, are modeled through Artificial Neural Network (ANN) to identify superior combinations for predictive accuracy. Ten-year daily data of closing index along with open, high and low indices are modeled through NARX modeling. The statistical tools AAE, RMSE, MAPE and MSPE are used to find out the predictive accuracy of ANN model. The results indicate ANN (4-10-1) with trainfunction GDX as the best predictor within the final outcome. The high predictive accuracy of the model to predict stock indices suggests a relook at the EMH for long-term data series.


© 2020 IUP. All Rights Reserved.

Article Price : ? 50

Capital Structure and Performance of Indian Microfinance Institutions
Swati Chauhan, C V R S Vijaya Kumar and Ashutosh Verma

The main aim of this paper is to explore the impact of capital structure on the performance of Microfinance Institutions (MFIs), which have double bottom line, outreach and financial sustainability goals. The paper examines the relationship between MFIs' capital structure and financial and social performance. The random and fixed effect models have been applied to a panel dataset of 46 Indian Non-Banking Financial Companies-Microfinance Institutions (NBFC-MFIs) for the period 2009-10 to 2014-15. Panel regression analysis shows that Indian MFIs are highly leveraged, which has enhanced the efficiency of NBFC-MFIs by reducing cost per borrower and operating expenses resulting in improvement of portfolio quality. Leverage has a positive and significant impact on social and financial dimensions of the MFIs. This is a unique study in the Indian microfinance sector that explores the impact of capital structure on MFIs' social and financial dimensions.


© 2020 IUP. All Rights Reserved.

Article Price : ? 50

Exploring the Herd Behavior of Investors: A Comparative Study of the Indian and US Stock Markets
Shilpa Lodha and G Soral

Recent research has witnessed a major shift in financial studies-from traditional finance to behavioral finance. The rejection of Efficient Market Hypothesis (EMH), several times, has led to a new era of financial studies. Herd behavior is one of the major areas of behavioral finance. Herding, basically, implies trading by a large group of investors in the same direction over a period of time. The present paper attempts to explore the existence of herd behavior in the Indian and the US stock markets. Daily prices of Nifty, its 50 constituent stocks, Dow Jones Industrial Average (DJIA) and its 30 constituent stocks are collected for five financial years from 2013-14 to 2017-18. Using Cross- Sectional Absolute Deviation (CSAD), as proposed by Chiang and Zheng (2010), the paper attempts to explore the existence of herd behavior in the Indian and the US stock markets and the impact of US markets on the herd behavior of the Indian stock markets. The results reveal that investors did not exhibit herd behavior both in the Indian and US stock markets during the study period. Even after accounting for asymmetric returns, herding is indicated by both the markets. Further, inclusion of CSAD of DJIA as an explanatory variable shows that Indian investors do not herd with US stock markets.


© 2020 IUP. All Rights Reserved.

Article Price : ? 50

GST: Prospects and Problems of Textile Retailers in Ahmedabad
Ankitaben D Kathiriya


© 2020 IUP. All Rights Reserved.

Article Price : ? 50

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