...initiative, which incorporated private sector participation and levy of toll on users to ensure sustainability in the long run. The road ran between Neelambur on the Salem side of NH-47 Tamilnadu and in Kerala2, Madukkarai on the Palghat side. The project involved construction of a 28-km long two-lane bypass road, the 32.2m new Athupalam bridge across the river Noyal, the railway overbridge at Chettipalayam Tamilnadu and the maintenance of the old bridge at Athupalam, all in the state of Tamilnadu. Larsen & Toubro (L&T)3was authorized to collect and retain the fee from users of the new and old Athupalam bridges. The bypass was expected to ease the traffic congestion in Coimbatore city, Tamilnadu and the Salem-Cochin national highway running between Tamilnadu and Kerala. The shippers, mostly export oriented units relying on the Cochin port for shipments, were other major beneficiaries as transportation time could be saved using the new road. Construction was started in January 1998 and completed in 22 months time. The Athupalam bridge was opened for traffic in December 1998 and the bypass became operative from January19, 2000. The project cost was about Rs.1.04 bn. The project concession period was for 12 years, and was expected to set a precedent for assessment of traffic risk patterns in the country for toll-based roads. L&T set up a special purpose vehicle (SPV) - L&T Transportation Infrastructure Ltd. (LTTIL), to implement the project. L&T held 100% equity in LTTIL. LTTIL implemented...
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...companies. Covers all industries with the exception of Transportation and Utilities. Key Features — The index is maintained by the Averages Committee. — Components are added and deleted on an as-needed basis. For the sake of continuity, such changes are rare, and typically occur following corporate acquisitions or other significant changes in a component company's core business. When one component is replaced, all of them are reviewed. — While stock selection is not governed by quantitative rules, a stock typically is added only if the company has an excellent reputation, demonstrates sustained growth and is of interest to a large number of investors. Maintaining adequate sector representation within the index is also a consideration in the selection process. — The index is price weighted. — The Dow Jones Industrial AverageTM was first calculated on May 26, 1896. Descriptive Statistics Market Capitalization (Billions) ComponentCurrency Number | Float-Full Adjusted Mean Median Largest Smallest | USD 30 | 5,016.6 4,769.7 159.0 137.8 412.4 34.2 | Data calculated as of end of October, 2014. Mean, median, largest component and smallest component values are based on float-adjusted market capitalization. Performance Total Return (%) Annualized Total Return (%) Currency...
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...Enticed by the reform of Indian banking sector in the early 1990s and further slowdown in the economy as a result of global financial crisis in late 2000s, the current study analyzes the performance of Indian banks using data envelopment analysis. The performance is measured in terms of technical efficiency, returns-to-scale, and Malmquist productivity index for a sample of 33 banks, consisting of 19 public sector and 14 private sector banks during the period spanning 1995-96 to 2009-10. The jackknifing analysis, followed by the dummy variable regression model is used to identify the outlier and its possible impact on overall efficiency trends. Findings reveal that efficiency scores are robust in the sense that the inclusion of outlier does not affect the overall efficiency trends. The public sector bank is faintly doing better than the private sector banks in terms of (i) technical efficiency since 2003-04 and (ii) scale efficiency from 2000-01 onwards. There is growing tendency of public banks operating under increasing returns to scale, implying that substantial gains could be obtained from altering scale via either internal growth or consolidation in the sector. The difference in the Total Factor Productivity (TFP) change between these two types of banks is found to be statistically significant in favour of public sector banks. The technological change has been the dominating source of productivity growth, whereas, the contribution of pure efficiency change and scale change...
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...What are the definitions of the major expenditure components? – What are the trends in these components over time? 2 Inflation 2 . Inflation – What is the difference between ‘Real’ and ‘Nominal’ variables? – How is inflation measured? 3. Interest Rate – How is inflation measured? – Why do we care about Inflation? 4. Unemployment – How is Unemployment measured? – Why do we care about Unemployment? 2 PART I: GDP Gross Domestic Product (GDP) • GDP is a measure of output! • Why Do We Care? – Because output is highly correlated (at certain times) with things we care about (standard of living, wages, unemployment, inflation, budget and trade deficits, value of currency, etc...) • Formal Definition: – GDP is the Market Value of all Final Goods and Services Newly Produce d on Domestic Soil During a Given Time Period (different than GNP) 4 Three ways of measuring GDP • Production Method : Measure the Value Added summed across all firms (value added = sale price less cost of raw firms (value added sale price less cost of raw materials) • Income Method : Labor Income (wages/salary) + Income Method : Labor Income (wages/salary) + Capital Income (rent, interest, dividends, profits)+ Government Income (taxes) • Expenditure Method : Spending by consumers (C) + Spending by businesses (I) + Spending by government (G) + Net Spending by forei g n sector ( NX ) g() • Fundamental identity of national...
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...IMPACT OF DIVIDEND POLICY ON SHAREHOLDERS’ VALUE: A STUDY OF INDIAN FIRMS Synopsis of the Thesis to be submitted in fulfillment of the requirements for the Degree of DOCTOR OF PHILOSOPHY In MANAGEMENT By Sujata Kapoor Enrollment No: 064009053 Date of Registration: July 2006 Under the Guidance of Supervisor: Dr Kanwal Anil Co-Supervisor: Dr Naseem Abidi Jaypee Institute of Information Technology, Noida A-10, SECTOR 62, NOIDA, INDIA (12) December, 2009 Sujata Kapoor, JBS, JIIT,Dec’ 2009 TABLE OF CONTENTS S. no. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Contents Introduction Review of the literature Research objectives Research Methodology Lintner Model: Analysis and findings Factor Analysis and Regression results on Extracted Factors Quadratic Polynomial Regression Analysis & Findings Event study: Analysis & Findings Conclusion Chapter plan Selected References Annexure Page no. 4-9 9-14 14-15 15-23 23-24 24-28 28-30 30-32 32-35 35-36 36-38 (III-XX) 2 Sujata Kapoor, JBS, JIIT,Dec’ 2009 KEY TERMS DIVIDEND PAYOUT RATIO: The percentage of earnings paid to shareholders in dividends. Calculated as: DIVIDEND POLICY: The policy a company uses to decide how much it will pay out to shareholders in dividends. SHAREHOLDERS’ VALUE: The value delivered to shareholders because of management's ability to grow earnings, dividends and share price. In other words, shareholder value is the sum of all strategic decisions that affect the firm's ability to efficiently increase...
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...IMPACT OF DIVIDEND POLICY ON SHAREHOLDERS’ VALUE: A STUDY OF INDIAN FIRMS Synopsis of the Thesis to be submitted in fulfillment of the requirements for the Degree of DOCTOR OF PHILOSOPHY In MANAGEMENT By Sujata Kapoor Enrollment No: 064009053 Date of Registration: July 2006 Under the Guidance of Supervisor: Dr Kanwal Anil Co-Supervisor: Dr Naseem Abidi Jaypee Institute of Information Technology, Noida A-10, SECTOR 62, NOIDA, INDIA (12) December, 2009 Sujata Kapoor, JBS, JIIT,Dec’ 2009 TABLE OF CONTENTS S. no. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Contents Introduction Review of the literature Research objectives Research Methodology Lintner Model: Analysis and findings Factor Analysis and Regression results on Extracted Factors Quadratic Polynomial Regression Analysis & Findings Event study: Analysis & Findings Conclusion Chapter plan Selected References Annexure Page no. 4-9 9-14 14-15 15-23 23-24 24-28 28-30 30-32 32-35 35-36 36-38 (III-XX) 2 Sujata Kapoor, JBS, JIIT,Dec’ 2009 KEY TERMS DIVIDEND PAYOUT RATIO: The percentage of earnings paid to shareholders in dividends. Calculated as: DIVIDEND POLICY: The policy a company uses to decide how much it will pay out to shareholders in dividends. SHAREHOLDERS’ VALUE: The value delivered to shareholders because of management's ability to grow earnings, dividends and share price. In other words, shareholder value is the sum of all strategic decisions that affect the firm's ability to efficiently increase...
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...DEPARTMENT OF MANAGEMENT STUDIES IIT DELHI Security Analysis & Portfolio Management – SML 873 Self Study Component – II (methodologies adopted across the globe for calculating Stock Index) By: Echo Group Russian Trading System (RTS) Stock Exchange 1. Eligibility Factors 2.1. Market Capitalization 2.2.1. A stock’s weight in an index is determined by the float-adjusted market capitalization of the stock 2.2.2. Each company’s market capitalization is capped at 15% in the RTSI and RTS2, and at 25% in the RTS Sector Indices, to restrict the weight of any one company dominating the entire index. 2.2. Liquidity: Securities that do not meet the following criteria over the three month period preceding the date of the revision are excluded from the index eligibility list 2.3.3. The average number of companies-brokers that submitted the “bid” and “ask” quotes for the security at the end of the trading session is at least two. 2.3.4. 2. The average spread between the “ask” and the “bid” prices at the end of the trading session is less than or equal to 15%, as compared to the buying price. 2.3.5. 3. The security should have two-sided quotes in the trading system at the end of the trading session for at least 90% of the trading days of a given period. 2.3.6. 4. The daily average number of transactions in this security is greater than or equal to 0.5. 2.3.7. 5...
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...in Abstract Motivating employees is a way to make them to give their best to the organization for the achievement of organizational goals. But choosing the strategy for motivation may differ from time to time and organization to organization, because it is a psychological phenomenon and it is depending on the preference of employees. Therefore the present study is made to find out the motivational factors with the samples of 676 respondents from 55 public and private sector organizations in Sri Lanka. The finding of the study is that the perceived level of motivation of the employees in both the sectors is high. As the factors influencing motivation, wages and salaries, physical working conditions, job descriptions, dependency, friendly working atmosphere, interpersonal relationships, prestige and work assignment, incentives and bonus, work facilities, security, power, challenging and advancement and personal growth are most important factors. Moreover, lower level employees in both the sectors give more important to lower level needs while middle and higher level employees emphasize higher level needs. Keywords: Motivation, Economic needs, Social needs,...
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...ADL 62 (Technology Management) Assignment – A ANS 1 (a) Economic analysis of technology. Economic analysis of technology deals with the evaluation of techno capitalism, technological diffusion, technology acceptance model, technology lifecycle, and technology transfer effects to the economy of a particular industry, group or country. Techno capitalism describes the changes in capitalism based on the changes in technology. Technological diffusion implies a form of 'conditional convergence' as lagging countries catch up with technological leaders. Technology Acceptance Model which deals more specifically with the prediction of the acceptability of an information system. The purpose of this model is to predict the acceptability of a tool and to identify the modifications which must be brought to the system in order to make it acceptable to users. Technology lifecycle is about the technological maturity of a product. Technology transfer is the process of sharing of skills, knowledge, technologies, methods of manufacturing, samples of manufacturing and facilities among governments and other institutions to ensure that scientific and technological developments are accessible to a wider range of users who can then further develop and exploit the technology into new products, processes, applications, materials or services. b) Technology and culture. Global organizations need to understand cultural differences if they want to successfully...
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...agribusiness sector which has historically been largely production and supply driven: • the majority of milk production enterprises supply dairy manufacturing or processing cooperatives which have developed into large enterprises aimed at achieving the best overall returns from supplied milk; • major volumes of milk are converted into storable dairy products which are sold into available international markets; and • national milk production is highly seasonal to take advantage of low-cost production conditions (such as spring pasture growth). With the strong forces of globalisation, the industry value chain has in the past decade been highly exposed to demand factors and forces in export and domestic market segments. These have had a profound effect on the returns to the overall industry and the nature of competition through the chain. The most marked of these changes has been in the domestic consumer product sector. Since the early 1980s the industry progressively removed internal support and regulation of prices and supply, and focused on taking advantage of low-cost production conditions to become a major player in the world market for dairy commodities and dispose of larger volumes of product. The final phase of that deregulation – of pricing and supply of milk to the packaged milk sector which directly affected less than a fifth of national milk output – is a relatively recent event. Considerable adjustment is still occurring in parts of the production and processing sector today...
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...INFRATSRUCTURE The Eleventh Five Year Plan emphasized the need for removing infrastructure bottlenecks for sustained growth. It, therefore, proposed an investment of US $500 billion in infrastructure sectors through a mix of public and private sectors to reduce deficits in identified infrastructure sectors. As a percentage of the gross domestic product (GDP), investment in infrastructure was expected to increase to around 9 per cent. For the first time the contribution of the private sector in total investment in infrastructure was targeted to exceed 30 per cent. Total investment in infrastructure during the Eleventh Plan is estimated to increase to more than 8 per cent of GDP in the terminal year of the Plan --higher by 2.47 percentage point s a s c ompa red t o the Tenth Pl an. The private sector is expected t o be contributing nearly 36 per cent of this investment. RAILWAYS Some of the major goals set for Vision 2020 in the document include (a) laying of 25,000 km of new lines; (b) quadrupling of the 6,000 km network with segregation of passenger and freight lines; (c) electrification of 14,000 km; (d) completion of gaugeconversion; (e) upgradation of speed to 160-200 kmph for passenger trains; and (f) construction of 2,000 km of high-speed rail lines. • Freight performance: Freight loading on Indian Railways during April-November 2011 was 618.0 MT as compared to 593.4 MT in April-November 2010, an increase of 4.14 per cent. • Upgradation...
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...de/32713/ MPRA Paper No. 32713, posted 09. August 2011 / 17:44 IJBEMR Volume 2, Issue 3 (March, 2011) ISSN 2229‐4848 The Journal of Sri Krishna Research & Educational Consortium INTERNATIONAL JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT RESEARCH Internationally Indexed & Listed Referred e-Journal FACTORS AFFECTING ON CUSTOMERS’ SATISFACTION: AN EMPIRICAL INVESTIGATION OF ATM SERVICE VIJAY M. KUMBHAR* *Rayat Shikshan Sanstha Satara’s Abasaheb Marathe College Rajapur (Maharashtra) India 416702 E-mail: vijay.kumbhar9@gmail.com ABSTRACT The present empirical study focuses on identifying key factors that have influences customers satisfaction in ATM service provided by public and private sector banks. For the purpose of the study primary data were collected using schedule and collected data from March to November 2010. Results of factor analysis, correlation and regression analysis show that a cost effectiveness, easy to use and security and responsiveness in ATM service were most important factors in customer satisfaction. KEYWORDS: Effectiveness. E-service Quality, ATM, Customer Satisfaction, Cost INTRODUCTION Recent ten years evidenced that electronic based business models are replacing conventional ones and organizations are rethinking business process designs and customer relationship management strategies. Banks are no exception to this transformation; a use of Information and Communication Technology (ICT) is revolutionizing...
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...as the purchasing power of money changes. To make monetary data comparable we divide the figures of the current period by a suitable price index (say, wholesale price index number) of the current period with respect to some base period. This will necessitate dividing or deflating the current figure by the index number of prices of the current period with the chosen base period. If the index number be I(0k) (in percent form), 100 rupees in base period (0) has the same purchasing power as I(0k) rupees in the current period (k). Thus, the figure x(k) in money terms in the current period expressed in terms of base-period purchasing power would be X(k’)=x(k)*100/I(0k) Let us now look at the various components of a time series. A graphical representation of a time series will reveal the changes over time. A series which exhibits no change in the...
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...Affairs Ministry of Education Ministry of Finance Ministry of Water Resources Ministry of Agriculture State Environmental Protection Administration State Forestry Administration Chinese Academy of Sciences China Meteorology Administration National Natural Science Foundation State Oceanic Administration China Association for Science and Technology June, 2007 Contents I. Current Status of Climate Change and Urgent Demands for S&T............................................... 1 1. Climate change is an increasingly prominent issue that brings about profound impacts on human societies ......................................................................................................................... 1 2. An appropriate response to climate change would be very much related to China’s economic and social development ............................................................................................ 1 3. Addressing climate change calls for urgent S&T activities .................................................. 1 II. China’s S&T Achievements in Climate Change ......................................................................... 2 1. Scientific research and technological development .............................................................. 2 2. Infrastructure buildup for Scientific Research ...................................................................... 3 3. Human Resources Development and Research Structural Buildup ...............................
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...Risk Reduction and Management (DRRM) in Boracay Island, Malay, Aklan, Philippines. A self-administered questionnaire was utilized to solicit information from the seventy-six (76) police officers of Boracay. Collected data were sequentially analyzed using appropriate statistical tools such as frequency count, percentage, rank, mean, standard deviation and paired T-test for significant differences. The demographic profile of the respondents indicated that majority of the respondents are young, male officers who have served the department for less than eight (8) years, but had attended limited training on disaster management. Results also indicated that there was a “high involvement” among police officers in Boracay in terms of Disaster Preparedness and Disaster Response. However, data shows that Disaster Recovery and Mitigation are “moderately involved” by the respondents. One of the most encountered issues and challenges by the respondents is proper coordination and leadership among local officials in Boracay. Further, there were no significant differences found in the involvement of police officers in the four components of DRRM Keyword: Boracay Island, Involvement, Mitigation, Preparedness, Recovery, Response 1. Introduction Boracay Island has been considered the economic driver...
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