Browsing by Author "M, Ganeshwari"

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DYNAMICS OF VOLATILITY SPILLOVER BETWEEN FOREIGNEXCHANGE MARKET AND STOCK MARKET: EVIDENCE FROMASIAN COUNTRIES
(International Journal of Business and Management, 2018-09) M, Theivanayaki; B, Deepha; M, Ganeshwari
Interdependency between foreign exchange market and stock market in recent years has been augmented and also fueled the volatility transmission between these two markets increasing the international portfolio risk. This study examine volatility spillover effects between foreign exchange market and stock market in selected Asian countries; India, Pakistan, China, Hong Kong, Japan and Sri Lanka. This study considered daily data from 1st April 2012 to 31st March 2017. The study employed EGARCH (Exponential Generalized Auto Regressive Conditional Heteroscedasticity) model) to analyses and it revealed a bidirectional asymmetric volatility spillover between both these market of India, Pakistan, China and Sri Lanka. The results reveal unidirectional transmission of volatility from stock market to foreign exchange market of Hong Kong. The analysis reveals no evidence of volatility transmission between the two markets in reference to Japan. The findings of this study provide significant insights to economic policy makers for financial stability perspective and also it is useful for investors regarding decision making in international portfolio and currency risk strategies.
EXAMINING VOLATILITY SPILLOVER BETWEEN FOREIGN EXCHANGE MARKETS AND STOCK MARKETS OF COUNTRIES SUCH AS BRICS COUNTRIES
(Sage Journal, 2021-06-23) Dharmendra, Singh; M, Theivanayaki; M, Ganeshwari
The objective of this article is to examine the volatility spillover effect between the foreign exchange market and the stock market of Brazil, Russia, India, China and South Africa (BRICS) countries along with Japan as the developed country in the region, affecting the BRICS countries. Generalized Autoregressive Conditionally Heteroscedastic (GARCH) (1,1) method is used to study the volatility between the stock market and the foreign exchange market in selected countries, and asymmetric model, that is, Exponential Generalized Autoregressive Conditional Heteroscedasticity—EGARCH (1,1) is also used to investigate the presence of leverage effects in both stock market and foreign exchange market in selected countries. GARCH findings suggest a two-way volatility spillover between the stock market and foreign exchange markets for India, China and South Africa. In BRICS countries, volatility spillover from the currency market to the stock market is seen as more evident and robust as compared to spillover from the stock market to the currency market. A positive asymmetry in spillover is also observed from the foreign exchange market to the stock market. The findings of the study may provide valuable information to investors for decision-making in international portfolio investment and also for economic policymakers for their financial stability perspective.
FINANCIAL PERFORMANCE OF STATE BANKS IN INDIA- AN EMPIRICAL STUDY
(Online International Interdisciplinary Research Journal, 2019-02) M, Ganeshwari; D, Raksha Jain; V K, Varshini
The progression of an economy is significantly dependent upon deployment as well as optimum utilization of resources and most importantly operational efficiency of the various sectors, of which banking sector plays a very vital role. Banking sector helps in stimulation of capital formation, innovation and monetization in addition to facilitation of monetary policy. It is imperative to carefully evaluate and analyse the performance of banks to ensure a healthy financial system and an efficient economy. The present study attempts to evaluate the performance of State Bank & its group in India using CAMEL approach for a five year period from 2014-2018.
FOREIGN EXCHANGE RISK AWARENESS AND MANAGEMENT PRACTICES WITH SPECIAL REFERENCE TO SME’S IN COIMBATORE
(International Journal of Creative Research Thoughts (IJCRT), 2018-01) M, Theivanayaki; M, Ganeshwari; L, Nivashini
This study assesses the existing capacity in the country for foreign currency risk management, its findings generate knowledge in this area hitherto unknown. The study is of descriptive in nature and the sample respondents were 38. Findings of this study indicated an inadequate capacity among individuals/firms to manage foreign exchange risk. Consequently, this study proposes remedial measures to enhance foreign currency risk management capacity through training. Improved foreign currency risk management shall, it is argued, minimize losses and increase the value of firms.
GREEN ENTREPRENEURSHIP: A CASE STUDY ON PUNARBHAVAA SUSTAINABLE PRODUCTS INDIA
(International journal of analytical and experimental modal analysis, 2019-08) M, Theivanayaki; M, Ganeshwari; S, Janani
The concept of Green Entrepreneurship can be traced back to Berle1, who introduced terms like recycling, renewable energy, preservation etc. In his book „Business opportunities that can save earth and make you money‟, he exspouses the cause of environment and declares that “one man‟s garbage is another man‟s treasure”. Thus, entrepreneurs came forward in all types of enterprises- small, medium and micro industries fueling economic growth along with contributing to environmental issues, there by solving community problems with innovative ideas.This paper is an attempt to understand the factors that the PUNARBHAVAA SUSTAINABLE PRODUCTS in India contributed towards green entrepreneurship.
IMPACT OF MACROECONOMIC FORCES ON INDIAN STOCK MARKET
(Asian Journal of Research in Business Economics and Management, 2019-04) R K, Sudhamathi; M, Ganeshwari
Macroeconomic performance plays crucial role in emerging economies and acts as the reflection of the economic performance of the country. Economic growth in turn depends on well structured financial market, vice-versa well structured and stable financial market will also fuel the economic growth of the country. In this dependent scenario it is quite imperative to study the impact of macroeconomic forces on the Indian stock market to have deeper understanding about the influence of macroeconomic forces on stock market returns. In this research article an attempt has been made to study the impact of macroeconomic variables such as consumer price index, industrial production, money supply, oil prices, exchange rate and global stock prices reflected by MSCI index on broad Indian stock market index BSE SENSEX and various sectoral indices of BSE. The main objective of the study is to study the impact of macroeconomic variable on Indian stock market and to examine the long-run and short-run relationship of the chosen macroeconomic variables on the returns of the broad stock market index BSE SENSEX and various sectoral indices of BSE. The period of study is from April 2014 to July 2018. The major macroeconomic forces that significantly impacts most of the sectors of the Indian stock market are CPI, crude oil price, exchange rate and MSCI index. Macroeconomic variable namely IPI significantly influences production sectors like basic materials, consumer discretionary goods and services, metal, oil and gas, teck and utilities. Macroeconomic variable money supply significantly impacts high capital intensive sector and finance sector. The analysis also shows that there exist a long-run and as well as short-run relationship between Indian stock market and macroeconomic variables chosen for the study.
INTRODUCTION TO E-BANKING
(International Journal of Research & Analytical Reviews, 2019-06) M, Theivanayaki; M, Ganeshwari; S, Nilofar; S, Haarishmitha
Online banking, also known as internet banking,is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services. Some banks operate as a "direct bank" (or “virtual bank”), where they rely completely on internet banking.
RELATIONSHIP BETWEEN FDI AND BSE SENSEX – AN EMPIRICAL STUDY
(Asian Journal of Research in Social Sciences and Humanities, 2019-04) R K, Sudhamathi; M, Ganeshwari
Foreign direct investment plays an important role in the economic development of both developing as well as developed nations. Due to foreign direct investment, a large number of countries are integrated and pursuing their international operations. Fast growing economies like China, Korea and Singapore etc have registered incredible growth with the functioning of FDI. FDI provides an access to the foreign capital as well as helps to provide the most modernize technology available, various tools of innovations and other complimentary skills. At present, with regard to FDI inflow, the government plays a vital role in drafting and executing various policies. The various foreign countries are attracted to ensure their investment in India with the FDI policies framed on the part of the government which acts as a stimulus. The amount of the inflow of FDI will account to the growth in GDP simultaneously the Indian stock market will also be affected due to the inflow of FDI. This paper will attempt to study the impact of foreign direct investment on the Indian stock market. Various statistical tools will be applied in order to analyze the study. The tools used for the study are Descriptive statistics, ADF, Granger Causality and Johansen Co-integration test. In order to study the impact, BSE Sensex is selected to represent the Indian stock market. Data of 3 years 2016-2018 suggests that amount of FDI has a direct impact on stock market i.e., BSE Sensex. The study concludes that flow of FDI in India determines the trend of Indian Stock Market.
Stock Market and Foreign Exchange Market- Are they related or not ?
(Asian Journal of Research in Banking and Finance, 2018-12) R K, Sudhamathi; M, Ganeshwari
This paper explores relationship between the Indian stock and Foreign exchange markets in India.The study employed ADF to test the stationarity, Granger causality test to analyse the short run equilibrium and Johansen co-intergration test to analyse the long run equilibrium. The study used all the exchange rates (USD/INR, EURO/INR, POUND/INR and YEN/INR) which are legally traded in India and Nifty 50 index by using monthly data from Jan 2013 – Dec 2017. The findings of the study show a long-run stable relationship between stock index and exchange rates exist. This means that stock index of Nifty 50 and exchange rates (USD, Euro and Yen against INR) move together in the long-run. The study next performed Granger causality test. There exist a short run relationship i.e., unidirectional causality running from CNX NIFTY to Euro/INR and USD/INR to CNX_Nifty. Thus, investors can use one market information to predict the other market. Also, financial managers can obtain more insights in the management of their international portfolio affected by these two variables. This should be particularly important to domestic investors and also international investors for diversifying their portfolio or for hedging purpose.
A STUDY ON THE IMPACT OF CURRENCY FLUCTUATION ON SECTORAL INDICES IN INDIAN CAPITAL MARKET
(International Journal of Creative Research Thoughts (IJCRT), 2018-01) M, Theivanayaki; M, Ganeshwari; G, Keerthana
This study has been undertaken to investigate the impact of currency fluctuation on selected sectoral indices in Indian capital market. The selected sectors for analysis in this paper are Nifty Bank, Auto, Pharma, Realty, Media and FMCG with USD/INR as dependent variable. The study covers the sample period of 2013-2017 by using correlation and regression. The findings of the study reveals that exchange rate has relationship with all the selected sectoral indices except Nifty Realty. And the regression reveals that nearly 40% of the independent variables cause the dependent variable.