What Drives the Off-Shore Futures Market? Evidence from India and China

2018 ◽  
Author(s):  
S. S. S. Kumar ◽  
Aravind Sampath
Keyword(s):  
Futures Market ◽  
India And China

What drives the off-shore futures market? Evidence from India and China

2019 ◽  
Vol 30 ◽  
pp. 394-402
Author(s):  
S.S.S. Kumar ◽  
Aravind Sampath
Keyword(s):  
Futures Market ◽  
India And China

scholarly journals Price Transmission in Cotton Futures Market: Evidence from Three Countries

2021 ◽  
Vol 14 (9) ◽  
pp. 444
Author(s):  
Amrinder Singh ◽  
Tarun Kumar Soni
Keyword(s):  
Futures Market ◽  
Vital Role ◽  
Price Transmission ◽  
Significant Shift ◽  
Long Run ◽  
Causality Tests ◽  
Chinese Markets ◽  
Price Discovery Process ◽  
India And China

This study examines the price transmission between cotton prices in U.S., Indian, and Chinese futures markets. We focus on studying the long-run price movements using cointegration and alternate causality tests. The empirical results indicate the following: (a) the U.S. cotton futures market continues to be the most dominant market, and it leads price changes in India and China; (b) the cotton prices in India also impacts the cotton prices in China as we report a unidirectional relationship flowing from India to China; (c) there is duality of direction of price transmission for U.S. and Chinese commodity markets as we document bi-directional causality between U.S. to Chinese cotton futures for the entire period and uni-directional causality from U.S. to Chinese markets for the two sub-periods; (d) the long-term relationship between the three markets has seen a significant shift as documented by the absence of cointegration which may be due to changes in government policy, especially in India and China specifically after 2014. Overall, results provide support for further reforms especially for Indian and Chinese commodity exchanges so that they can play a vital role in the price discovery process especially for commodities that are largely produced or consumed in these economies.

New and noteworthy lichen-forming and lichenicolous fungi 10

2020 ◽  
Vol 62 (1-2) ◽  
pp. 69-108
Author(s):  
S. Y. Kondratyuk ◽  
D. K. Upreti ◽  
G. K. Mishra ◽  
S. Nayaka ◽  
K. K. Ingle ◽  
...  
Keyword(s):  
Phylogenetic Analysis ◽  
South Korea ◽  
Eastern Europe ◽  
South Asia ◽  
New Combinations ◽  
Eastern Asia ◽  
Forest Zone ◽  
Mediterranean Europe ◽  
First Time ◽  
India And China

Eight species, new for science, i.e.: Lobothallia gangwondoana S. Y. Kondr., J.-J. Woo et J.-S. Hur and Phyllopsora dodongensis S. Y. Kondr. et J.-S. Hur from South Korea, Eastern Asia, Ioplaca rinodinoides S. Y. Kondr., K. K. Ingle, D. K. Upreti et S. Nayaka, Letrouitia assamana S. Y. Kondr., G. K. Mishra et D. K. Upreti, and Rusavskia indochinensis S. Y. Kondr., D. K. Upreti et S. Nayaka from India and China, South Asia, Caloplaca orloviana S. Y. Kondr. and Rusavskia drevlyanica S. Y. Kondr. et O. O. Orlov from Ukraine, Eastern Europe, as well as Xanthoria ibizaensis S. Y. Kondr. et A. S. Kondr. from Ibiza Island, Spain, Mediterranean Europe, are described, illustrated and compared with closely related taxa. Fominiella tenerifensis S. Y. Kondr., Kärnefelt, A. Thell et Feuerer is for the first time recorded from Mediterranean Europe, Huriella loekoesiana S. Y. Kondr. et Upreti is provided from Russia for the first time, and H. pohangensis S. Y. Kondr., L. Lőkös et J.-S. Hur for the first time from China, Phoma candelariellae Z. Kocakaya et Halıcı is new to Ukraine, and Staurothele frustulenta Vain. is recorded from the Forest Zone of Ukraine for the first time. Twelve new combinations, i.e.: Bryostigma apotheciorum (for Sphaeria apotheciorum A. Massal.), Bryostigma biatoricola (for Arthonia biatoricola Ihlen et Owe-Larss.), Bryostigma dokdoense (for Arthonia dokdoensis S. Y. Kondr., L. Lőkös, B. G. Lee, J.-J. Woo et J.-S. Hur), Bryostigma epiphyscium (for Arthonia epiphyscia Nyl.), Bryostigma lobariellae (for Arthonia lobariellae Etayo), Bryostigma lapidicola (for Lecidea lapidicola Taylor), Bryostigma molendoi (for Tichothecium molendoi Heufl. ex Arnold), Bryostigma neglectulum (for Arthonia neglectula Nyl.), Bryostigma parietinarium (for Arthonia parietinaria Hafellner et Fleischhacker), Bryostigma peltigerinum (for Arthonia vagans var. peltigerina Almq.), Bryostigma phaeophysciae (for Arthonia phaeophysciae Grube et Matzer), Bryostigma stereocaulinum (for Arthonia nephromiaria var. stereocaulina Ohlert), are proposed based on results of combined phylogenetic analysis based on mtSSU and RPB2 gene sequences. Thirty-one new combinations for members of the genus Polyozosia (i.e.: Polyozosia actophila (for Lecanora actophila Wedd.), Polyozosia agardhiana (for Lecanora agardhiana Ach.), Polyozosia altunica (for Myriolecis altunica R. Mamut et A. Abbas), Polyozosia antiqua (for Lecanora antiqua J. R. Laundon), Polyozosia bandolensis (for Lecanora bandolensis B. de Lesd.), Polyozosia behringii (for Lecanora behringii Nyl.), Polyozosia caesioalutacea (for Lecanora caesioalutacea H. Magn.), Polyozosia carlottiana (for Lecanora carlottiana C. J. Lewis et Śliwa), Polyozosia congesta (for Lecanora congesta Clauzade et Vězda), Polyozosia eurycarpa (for Lecanora eurycarpa Poelt, Leuckert et Cl. Roux), Polyozosia expectans (Lecanora expectans Darb.), Polyozosia flowersiana (Lecanora flowersiana H. Magn.), Polyozosia fugiens (for Lecanora fugiens Nyl.), Polyozosia invadens (for Lecanora invadens H. Magn.), Polyozosia juniperina (for Lecanora juniperina Śliwa), Polyozosia latzelii (for Lecanora latzelii Zahlbr.), Polyozosia liguriensis (for Lecanora liguriensis B. de Lesd.), Polyozosia massei (for Myriolecis massei M. Bertrand et J.-Y. Monnat), Polyozosia mons-nivis (for Lecanora mons-nivis Darb.), Polyozosia oyensis (for Lecanora oyensis M.-P. Bertrand et Cl. Roux), Polyozosia percrenata (for Lecanora percrenata H. Magn.), Polyozosia persimilis (for Lecanora hagenii subsp. persimilis Th. Fr.), Polyozosia poeltiana (for Lecanora poeltiana Clauzade et Cl. Roux), Polyozosia prominens (for Lecanora prominens Clauzade et Vězda), Polyozosia prophetae-eliae (for Lecanora prophetae-eliae Sipman), Polyozosia salina (for Lecanora salina H. Magn.), Polyozosia schofieldii (for Lecanora schofieldii Brodo), Polyozosia sverdrupiana (for Lecanora sverdrupiana Øvstedal), Polyozosia torrida (for Lecanora torrida Vain.), Polyozosia wetmorei (for Lecanora wetmorei Śliwa), Polyozosia zosterae (for Lecanora subfusca? zosterae Ach.)) are proposed.

Optimal Hedge Ratio and Hedging Effectiveness in Stock Futures Market: Evidence from National Stock Exchange, India

2019 ◽  
Vol 118 (3) ◽  
pp. 137-152
Author(s):  
A. Shanthi ◽  
R. Thamilselvan
Keyword(s):  
Banking Sector ◽  
Stock Exchange ◽  
Research Work ◽  
Futures Market ◽  
Least Square ◽  
Time Varying ◽  
Hedge Ratio ◽  
Hedging Effectiveness ◽  
Out Of Sample ◽  
Optimal Hedge

The major objective of the study is to examine the performance of optimal hedge ratio and hedging effectiveness in stock futures market in National Stock Exchange, India by estimating the following econometric models like Ordinary Least Square (OLS), Vector Error Correction Model (VECM) and time varying Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH) model by evaluating in sample observation and out of sample observations for the period spanning from 1st January 2011 till 31st March 2018 by accommodating sixteen stock futures retrieved through www.nseindia.com by considering banking sector of Indian economy. The findings of the study indicate both the in sample and out of sample hedging performances suggest the various strategies obtained through the time varying optimal hedge ratio, which minimizes the conditional variance performs better than the employed alterative models for most of the underlying stock futures contracts in select banking sectors in India. Moreover, the study also envisage about the model selection criteria is most important for appropriate hedge ratio through risk averse investors. Finally, the research work is also in line with the previous attempts Myers (1991), Baillie and Myers (1991) and Park and Switzer (1995a, 1995b) made in the US markets

A. S. Bhalla. Uneven Development in the Third World: A Study of China and India. London: Macmillan, 1992. xix+353 pp.Hardbound. £47.50.

1993 ◽  
Vol 32 (3) ◽  
pp. 329-331
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Uneven Development ◽  
Government Control ◽  
Urban Bias ◽  
Economic Decision Making ◽  
Access To Health ◽  
Development Experience ◽  
The Third World ◽  
Technology Policies ◽  
India And China

The book reviews the development experience of two major countries in Asia, India and China. India has followed a democratic liberal course in politics, based on Westminster-style parliamentary practices. However, its economic policy has tilted towards socialism, with government control on the major sectors of the economy. China, on the other hand, has evolved a political culture that is totalitarian in nature; all political power is concentrated in the hands of the Communist Party. Hence, economic decision-making was also centralised until a few years ago when China began a process of economic liberalisation. The book begins by defining what uneven development signifies. Development strategies and their outcomes are used to illustrate the phenomenon of uneven development. The author describes three such strategies, namely, industrialisation, sectoral/regional balance, and economic liberalisation. The effect of these strategies on the growth of output, inequalities in income consumption, and class inequalities in an intra-regional, inter-regional, and rural-urban divide are specifically discussed for both India and China. Other topics of interest that are dealt with in the book include technology policies and access to health and education services. The latter two subjects, in particular, are discussed in terms of class, regional background, and rural-urban bias.

The profitability of algorithmic trading systems based on football sentiment

2020 ◽  
Vol 42 (1) ◽  
pp. 33-46
Author(s):  
Raúl Gómez-Martínez ◽  
Camila Marqués-Bogliani ◽  
Jessica Paule-Vianez
Keyword(s):  
Financial Markets ◽  
Investment Decisions ◽  
Futures Market ◽  
Algorithmic Trading ◽  
Investment Strategies ◽  
Measurable Effect ◽  
Behavioural Finance ◽  
Trading Systems ◽  
European Football

Behavioural finance has shown that investment decisions are the result of not just rational but also emotional brain processes. On the assumption that emotions affect financial markets, it would seem likely that football results might have a measurable effect on financial markets. To test this, this study describes three algorithmic trading systems based exclusively on the results of three top European football teams (Juventus, Bayern München and Paris St Germain) opening long or short positions in the next market season of the futures market of the index of each country (MIB (Milano Italia Borsa), DAX (Deutscher Aktien Index) and CAC (Cotation Assistée en Continu). Depending on the outcome of the last game played a long position was taken after a victory and a short position after a draw or defeat. The results showed that the algorithmic systems were profitable in the case of Juventus and Bayern whereas in the case of PSG, the system was profitable, but in an inverse way. This study shows that investment strategies that take account of sports sentiment could have a profitable outcome.

Multinationals from the BRIC-countries investing in German firms: Impacts on industrial relations

2020 ◽  
Vol 27 (1-2020) ◽  
pp. 3-18
Author(s):  
Martin Franz ◽  
Sebastian Henn
Keyword(s):  
Current System ◽  
Industrial Relations ◽  
Industrialized Countries ◽  
Bric Countries ◽  
Social Standards ◽  
Target Firms ◽  
Patterns Of Communication ◽  
Run Up ◽  
Works Council ◽  
India And China

Often, investments from emerging economies in firms in industrialized countries evoke concerns among the employees in the targeted firms. Many of them are afraid of losing their jobs, or fear that the new owners could undermine existing social standards. Up to now, little is known about how such investments affect industrial relations in targeted countries. Using the example of investments from the BRIC-countries (Brazil, Russia, India and China) in German firms, this paper analyses whether employees’ fears are well founded. To this end, four different factors are considered. These include: (1) the situation of the target firms in the run-up to an acquisition and the employees’ reactions to the takeover, (2) the investors’ knowledge of the current system of industrial relations, (3) the day-to day interactions with the new owners, and (4) the patterns of communication between works council representatives and the new owners. The empirical part of the article is based on an analysis of quantitative data as well as the application of problem-centered interviews with members of work councils, trade union representatives as well as managers.

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