To study the Effect of GST in Indian economic system
Authors: Rafiya Malik
Abstract
Goods and service tax (GST) is a modified tax shape which is precisely is aware of as indirect tax. GST is the result based tax, as it is gathered at the time of use no longer at the factor of an impact on like preceding tax. The current study purpose is to define all those goods & services offerings that are not included in GST and to understand the effect of GST in Indian economic system and the boom of income in state and union and to examine from where India have pick out up this GST thinking. The cutting-edge study is primarily based on secondary statistics such as journals, internets, newspaper, magazines and books.
Modelling Stock Market Volatility: A Study of NIFTY Returns
Authors: Ms. Sapna, DrArwinder Singh
Abstract
The Present paper attempted to explore stock market volatility patterns using both symmetric as well as asymmetric models particularly whether negative and positive news have same impact on the stock market volatility or there is difference in their impact and along with whether FIIs influence the volatility. The monthly data on closing stock prices were taken from website of National Stock Exchange from 1st January 1999 to 31st May 2019 and for foreign Institutional investment, Reserve Bank of India’s website was considered. Augmented Dickey Fuller test of unit root was employed to check the stationarity of the data. To find the asymmetry affect two tests from GARCH family, Exponential GARCH model and Threshold GARCH model were used. The study found the clear presence of asymmetry in the return series meaning thereby any negative news in the market have a larger impact on the volatility than any positive shock. FIIs found to have positive but insignificant impact on stock market volatility of NSE in India for the study period. But GARCH-M model found no evidence of risk premium indicating no reward for assuming additional risk. Finally the study affirms GARCH (1,1) and E-GARCH are the better performers in symmetric and asymmetric category of techniques respectively following the lowest values of Akaike information criteria and Schwartz information criteria.
Dividend Decision and Value of the firm _ an empirical study in Indian Investors
Authors: Sudarshan Roy, J. K. Das
Abstract
The term “Dividend Decision or policy” is a kind of strategy in which a firm or a company utilises to organise its dividend payments to the consumers or shareholders. In this case, some investigators recommend that the dividend policy may be inconvenient or irrelevant according to the theory, as the investor can sell a part of their shares as per the necessity of the funds or capitals of them. Furthermore, the dividend policy is attentive towards the economical guidelines in respect of providing cash dividend payments at present or contributing an onward dividend at the later phases. Simultaneously, the issuance of the dividend payment structure is chiefly concentrated on the basis of the firm’s unoccupied cash and affected through the firm’s long-term earning capacity. But, whenever the surplus amount remains and is not required by the firm, then the authority is envisaged to contribute some or all of those excess earnings in the form of cash payments of dividends or repeatedly buying the company’s share throughout a share buyback or repurchase activities. At the same time, the term “Value of the Firm” is a calculation of the firm’s entire value and frequently utilised as a more apprehensive variation to the equity finance market. Practically, the firm value not only incorporates the measurement of the market investment of a company, but also includes the short and long-term liability as well as any fund of the company’s financial report together. In short, the ‘Value of the Firm’ is a kind of reputed metric utility on behalf of the valuation of a company for the probable acquisition. The primary objectives of the endeavours here is to analyze the views of the Indian investors, corporate executives and financial analysts quintessentially which reveals the grassroots level messages to the higher corporate executives and financial analysts as well. The endeavour deals with mainly to evaluate the views of Indian investors, company executives and stock market analysts towards dividend decisions and to analyze dividend decisions and value of the firm.