Yushiyuki Hiraga, the Deputy General Manager from Daikin Eluorochemical China signed the agreement, and emphasized the two companies will strengthern their strategiccooperation by applying their respective advantages in the field of solar fluorocarbon backsheet. Jolywood was founded in March, and is the only public listed company for backsteet design, produce and sales and has been the leading manufacturer of backsheet in the world.
Bibliography A review paper on research done in any field invariably presents considerable difficulties. What should be the period of review? What should be the objective of a review?
How does one ensure the coverage is comprehensive? It is clear that such questions as above are bound to generate varied answers. The difficulty of the task increases manifold in Indian conditions where institutional addresses are difficult to obtain at one place, ready bibliographies are rare, referencing in published research is hardly comprehensive, and reprints are difficult to obtain.
We would therefore begin by briefly outlining the basis on which the review of research on Indian capital markets has been done in this paper. Research Definition It is not our objective to debate about what kind of work can be regarded as "research". For the purpose of the review, research has been defined as doctoral dissertations, papers published in academic journals, books including expository, but excluding obviously popular books and working papers or occasional unpublished papers where such information was available on Indian capital markets.
We have not reviewed articles published in the popular media such as financial dailies, business magazines and other popular magazines and journals. We have also excluded dissertations for masters degrees, reports of government committees or commissions, seminar and conference papers.
We have also largely excluded publications in foreign journals. It is possible that, in the process, the list of works reviewed may have excluded some excellent works published in popular media or included some sub-standard works published in academic journals.
This narrowing of the coverage of the review on the above lines became necessary when we realized that it would be a truly Herculean task to include every kind of published and unpublished work on the Indian capital markets in and outside India.
Scope of Capital Market Research We were next faced with another difficult question about what can be classified as a work on capital markets. A variety of work in economics, accounting and finance would have some linkages with capital markets.
Works in corporate finance have strong linkages with security markets. For our purpose therefore, we considered works falling into any of the following categories as those belonging to the field of capital markets: Period of Review We have primarily reviewed work done in the fifteen years from to In addition, some works published inwhich we could readily access while analyzing the data collected for the earlier fifteen years, have also been reviewed.
It was not considered worthwhile to go further back in time because of two main reasons: We chose as a cut-off year for a break from the past since it was this year in which the MNCs operating in India were forced to dilute foreign holding under FERA.
The dilution was perhaps the genesis of the equity cult which gave a fillip to the Indian capital market. Objective of Review Even this aspect of the review required resolution of some key issues. Should it simply consist of annotated bibliographies of the research?
Should it be a commentary on the works done without drawing any inferences for the future, or should it be our assessment about the emerging scenario in the Indian capital market based on the research over the chosen period? We decided to provide a detailed bibliography at the end of the paper and provide a commentary on the more serious works in the main body of the paper.
In several areas, particularly where there have been dramatic changes in the regulatory or operating environment, we have also identified the kind of research that is needed. Financial services was included so as to ensure that areas such as mutual funds and merchant banking were not excluded from the response.
We did not spell out any specific areas as we thought it best to let the respondents interpret research in capital market and financial services in its widest possible sense.
We exercised our judgement on what work would qualify for inclusion under the area of capital market only after we received the responses. Subsequently, we sent three reminders, at intervals of one month each. The first reminder brought in 18 more responses; the second brought in another 13 and the third reminder 13 more responses, bringing the total number of respondents to However, of these, only 28 institutions reported that some research had been done in the field of capital market and financial services by them.
Simultaneously, we started a search in the library of the Indian Institute of Management, Ahmedabad, for relevant information on research in Indian capital market.
We searched through the contents of all Indian journals which could contain papers on capital markets and also located books listed in the library catalogue. The list of references provided at the end of papers were another source of tracing the works done in the area.
As can be expected, we did face difficulties sometimes in locating papers because the particular volume in which the paper had appeared was missing, or that some new journal was not subscribet to by the library at all.
The final list thus is the result of these two search procedures. However, despite our best efforts, abstracts of all works could not be obtained or prepared. In such cases the works have merely been listed in the bibliography and not commented upon in the paper.
The work compiled was categorized into six different areas and a detailed review of these is presented in the following sections.
Valuation of Stocks and Functioning of Indian Stock Market The work in this area can be classified into three broad strands: One of the early works on functioning of stock markets and financial institutions was by Simha, Hemalata and Balakrishnan Bhole wrote a comprehensive book on the growth and changes in the structure of Indian capital markets and financial institutions."e-government" expanding Internet service and making "our me-dia more free, contemporary and independent".
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Characteristics of Insurance contract, Functions of Insurers: Production, Underwriting, Rate Making, Managing Claims and Losses, Investment & Financing, Accounting & Record Keeping and other miscellaneous functions, Types of Insurers, Reinsurance: the concept, uses and advantages.
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