Papers by Anindya Chakrabarty
With the advent of economic reforms in India, various changes had been started, which affected va... more With the advent of economic reforms in India, various changes had been started, which affected various industries by virtue of various reformist actions. The Indian pharmaceutical companies also undertook such reforms. The paradigm shift from 'process patent' to 'product patent' is the outcome of Trade Related Intellectual Property Rights (TRIPS) under GATT agreement signed during 1994 by India, which was also initiation of economic reform in this field. The Ranbaxy Laboratory occupied the largest position in terms of market share and although, it had other definite favorable conditions, still, during product patent period, the working capital management of this company has worsened. The liquidity, operational efficiency and ultimately, the profitability had declined during the period. The credit worthiness, interest rate deregulation, money and debt market reconstruction, cautious cash management and ultimately, the competitive endeavor that actually pointed out for...
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Indian Journal of Finance, 2011
This paper empirically investigates the causality and long run equilibrium relationship between t... more This paper empirically investigates the causality and long run equilibrium relationship between the Indian stock market and the stock market indices of two developed countries namely USA and UK using Engle Granger causality and Cointegration regression tests. The study depicts that USA and UK market factors influence Indian stock market in the long run. Financial integration is the key to delivering competitiveness, efficiency and growth. But will integration also bring about financial stability? One of the main motivations behind these cross border investments is portfolio hedging, which unfortunately is not effective in an environment of high cross border financial cointegration. It is evident from the present study that investment in US and UK market by an Indian investor with an intention of reducing risk will bear no fruit in the long run. While the increasing surge of international trade and cross border investment in an era of globalization and multinational companies (MNCs),...
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International Journal of Innovation Science
Purpose This paper aims to propose an innovative approach to risk measurement for the abolition o... more Purpose This paper aims to propose an innovative approach to risk measurement for the abolition of selection bias arising from the specious selection of different horizons for investment and risk computation of equity-linked-saving schemes (ELSS). Design/methodology/approach ELSS has a lock-in period of three years, but shorter horizons’ (daily/weekly/monthly) return data are preferred, in practice, for risk computation. This results in horizon mismatch. This paper studies the consequences of this mismatch and provides a noble solution to diminish its effect on investors’ decision-making. To accomplish this objective, the paper uses an innovative methodology, maximal overlap discrete wavelet transformation, to segregate the price movements across different horizons. Risk across all horizons is measured using Cornish-Fisher expected shortfall and Cornish-Fisher value-at-risk methods. Findings The degree of consistency of risk-based rankings across horizons is examined by means of the...
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International Journal of Computer Integrated Manufacturing, Jan 28, 2015
ABSTRACT The aim of the paper is to develop a conceptual framework for successful implementation ... more ABSTRACT The aim of the paper is to develop a conceptual framework for successful implementation of ubiquitous manufacturing (UM). Author(s) have adopted an interpretivist philosophy, guided by deductive and inductive approaches, to develop a conceptual framework for successful implementation of UM. An attempt is made in this paper to provide an overview of available UM literature by developing and classifying a contextual relationship among identified variables using an Interpretive Structural Modeling (ISM) technique, and further categorizing these variables into four categories, depending upon their dependence and driving power, using MICMAC analysis. The synthesis of an ISM model and MICMAC analysis has resulted in a conceptual framework for successful implementation of UM. Author(s) conclude with a summary of our findings and further research directions. Key-words: Ubiquitous Manufacturing, Ubiquitous Computing, Interpretive Structural Modeling, MICMAC.
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Business Process Management Journal
Purpose The purpose of this paper is to develop a theoretical model of a jump diffusion-mean reve... more Purpose The purpose of this paper is to develop a theoretical model of a jump diffusion-mean reversion constant proportion portfolio insurance strategy under the presence of transaction cost and stochastic floor as opposed to the deterministic floor used in the previous literatures. Design/methodology/approach The paper adopts Merton’s jump diffusion (JD) model to simulate the price path followed by risky assets and the CIR mean reversion model to simulate the path followed by the short-term interest rate. The floor of the CPPI strategy is linked to the stochastic process driving the value of a fixed income instrument whose yield follows the CIR mean reversion model. The developed model is benchmarked against CNX-NIFTY 50 and is back tested during the extreme regimes in the Indian market using the scenario-based Monte Carlo simulation technique. Findings Back testing the algorithm using Monte Carlo simulation across the crisis and recovery phases of the 2008 recession regime reveale...
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Paradigm, 2010
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International Journal of Business Excellence, 2016
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Global Business Review
The article studies the nature and direction of shock and volatility transmission among the nine ... more The article studies the nature and direction of shock and volatility transmission among the nine non-overlapping sectoral indices of Bombay Stock Exchange (BSE) across eight different scales (from 2-4 days to 1-2 years) using a newly developed wavelet-based multi-resolution-extended dynamic conditional correlation GARCH (MRA-EDCC GARCH) model and compared the results with that of the traditional vector-auto regression-extended dynamic conditional correlation GARCH (VAR-EDCC GARCH) model. The study reveals that the volatility interaction is scale dependent. Significant variation in the magnitude and direction of the spillover incidences are observed between the results of the two models which elucidates that the traditional VAR-EDCC GARCH model may not be sufficient in unlocking the complex pattern of volatility interaction and the multiscale analysis can be further used to extract the hidden information. Shock spillover incidences are found to decrease with scale while the volatilit...
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In extremely turbulent situation when world faces major economic crisis then particularly Indian ... more In extremely turbulent situation when world faces major economic crisis then particularly Indian manufacturing sector had major set back. In such situation some of Indian cement sector has demonstrated healthy performance through innovative supply chain practices. In this study author conducted an empirical study to understand how innovative practices in supply chain in combination with TQM (Total Quality Management) can
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International Journal of Production Research, 2015
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Global Journal of Flexible Systems Management, 2014
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Global Journal of Flexible Systems Management, 2015
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International Journal of Computer Integrated Manufacturing, 2015
ABSTRACT The aim of the paper is to develop a conceptual framework for successful implementation ... more ABSTRACT The aim of the paper is to develop a conceptual framework for successful implementation of ubiquitous manufacturing (UM). Author(s) have adopted an interpretivist philosophy, guided by deductive and inductive approaches, to develop a conceptual framework for successful implementation of UM. An attempt is made in this paper to provide an overview of available UM literature by developing and classifying a contextual relationship among identified variables using an Interpretive Structural Modeling (ISM) technique, and further categorizing these variables into four categories, depending upon their dependence and driving power, using MICMAC analysis. The synthesis of an ISM model and MICMAC analysis has resulted in a conceptual framework for successful implementation of UM. Author(s) conclude with a summary of our findings and further research directions. Key-words: Ubiquitous Manufacturing, Ubiquitous Computing, Interpretive Structural Modeling, MICMAC.
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Physica A: Statistical Mechanics and its Applications, 2015
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Papers by Anindya Chakrabarty