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International Conference on

This is for Internal

Financial Innovations and Change for Survival and Growth


FINCON-2011
January 7-8, 2011

Program Schedule
Inaugural Session Program
9.00 AM-10.00 AM 10.00 AM-11.30AM 10.00-10.10AM 10.10-10.20AM 10.20-10.25AM 10.25-10.45AM 10.45-11.05AM 11.05-11.25 AM 11.25-11.30AM 11.30AM -12.00 Noon Registration Inaugural Session Welcome Address by Dr. Anand Sharma on behalf of MDI, Gurgaon Welcome Address by Prof Shantaram Hegde on behalf of School of Business, University of Connecticut Back ground Paper by Dr. K N Badhani Address by Prof Chinmoy Ghosh Address by Dr. M S Sahu, Executive Member, SEBI Address by the Chief Guest, Dr. C Rangarajan, Chairman, Prime Ministers Economic Advisory Council Vote of Thanks by Conference Chair Dr. Samiksha Ojha High Tea

Day 1: January 7,2011, 12.00Noon-1.30PM Track 1: Corporate Finance 1 Shantaram P. Hegde,


Professor of Finance,Department of Finance, School of Business, University of Connecticut, USA

Session Chair

PENSION CONTRIBUTIONS, INVESTMENT, AND FIRM VALUE: EVIDENCE FROM FROZEN DEFINED BENEFIT PLANS 12 Noon -12.15PM Hieu V. Phan & Shantaram P. Hegde
School of Business, University of Connecticut

IMPACT OF MARKET RISKS ON INDIAN FIRMS ISSUING FOREIGN CURRENCY CONVERTIBLE BONDS 12.15PM-12.30PM Vrishali N. Bhat , T. A. Pai Management Institute, Manipal Pratap C. Biswal, Management Development Institute, Gurgaon ANNOUNCEMENT EFFECT OF OPEN MARKET SHARE BUYBACKS IN INDIA: PART-I 12.30PM-12.45PM S Narayan Rao
S J M School of Management, IIT Bombay

IMPACT OF SIZE ON DIVIDEND POLICY OF FIRMS: A CROSSSECTIONAL ANALYSIS OF SELECTED INDIAN FIRMS 12.45PM-1.00PM Vinti Agarwal &Pa dmini Jindal
National Institute of Financial Management, Faridabad

ADAPTIVE CUSTOMIZATION BASED FINANCIAL RATING MODEL FOR GREATER ACCOUNTABILITY & TRANSPARENCY 1.00PM-1.15PM Nitin Kumar, National Insurance Academy School of Management, Pune Noopur Saxena, Indian Institute of Tourism and Travel Management, Gwalior UNVEILING FOREX MARKETS, EXPOSURE MODELING AND FOREX RISK MANAGEMENT BY INDIAN COMMERCIAL BANKS AN EMPIRICAL ASSESSMENT 1.15PM-1.30PM Deepak Tandon, Neelam Tandon & Srikant Sharma
Lal Bahadur Shastri Institute of Management, Delhi

1.30PM -2.30 PM

Lunch Break

Day 1: January 7, 2011, 2.30 PM-4.00 PM Track 1: Corporate Finance 2 P K Jain,


Professor of Finance,Department of Management Studies, Indian Institute of Technology, Delhi

Session Chair

SECTOR ANALYSIS ON CAPITAL STRUCTURE DETERMINANTS AMONG MALAYSIAN LISTED COMPANIES 2.30PM -2.45PM Suresh Ramakrishnan, Gerard Gannon & Rui Peng Liu
Deakin University , Burwood

2.45PM-3.00PM

FIRM VALUATION AND CASH FLOWS - MODELING FORECASTING HURDLE RATE V.K. Nangia, Rajat Agarawal, K. Srinivasa Reddy
Indian Institute of Technology Roorkee

VALUATION AND RISK BASED ON ACCOUNTING MEASURE 3.00PM-3.15PM Rani Ladha & Abhilash Nair
IIM Kozhikode

CAPITAL STRUCTURE CHOICES A STUDY WITH SPECIAL REFERENCE TO THE PECKING ORDER 3.15PM-3.30PM Sachin Choudhry , Institute of Management Technology ,Ghaziabad D.S.Meenakshi Sundaram , National Insurance Company Ltd. FINANCIAL RISK MANAGEMENT THROUGH BUSINESS INTELLIGENCE Namita Chaudary, Apoorva Agarwal & Mekhala Maiti
IMT, Nagpur

3.30PM-3.45PM

3.45PM -4.00PM

Tea Break

Day 1: January 7, 2011, 4.00 PM 5.30 PM Track 1: Financial Markets


Session Chair Anand K Sharma, Professor, Finance Area, Management Development Institute, Gurgaon TRACKING ERRORS OF ETFS AND INDEX MUTUAL FUNDS A COMPARISON Rupendra Paliwal & Matthew M. Choiniere
Sacred Heart University

4.00 PM 4.15 PM

PERFORMANCE EVALUATION OF MUTUAL FUNDS IN INDIA A COMPARATIVE STUDY OF PUBLIC AND PRIVATE SECTOR MUTUAL FUNDS 4.15 PM 4.30 PM Vinay Kandpal, Amrapali Institute of Management & Computer Applications P C Kavidayal, Kumaun University, Nainital THE PERFORMANCE OF INDIAN MUTUAL FUNDS INDUSTRY DURING GLOBAL FINANCIAL CRISIS Naushad Alam NEED FOR FINANCIAL INNOVATIONS IN THE DEREGULATED PETROLEUM SECTOR OF INDIA 4.45 PM 5.00 PM Lalit Kumar Khurana, Amandeep Rattol & Ronak Sacheti
Pt. Deendayal Petroleum University,Raisan, Gandhinagar

4.30 PM 4.45 PM

5.00 PM 5.15 PM

A COMPARATIVE STUDY OF FINANCIAL INNOVATION, CHANGES, SURVIVAL AND GROWTH OF INDIAN AND INTERNATIONAL MARKET Mousami Bandyopadhayay
Poornima School of Management, Jaipur

5.15 PM 5.30 PM 5.30 PM

A STUDY ON IMPACT OF SYSTEMATIC REGULATION ON THE DEVELOPMENTS OF INDIAN FINANCIAL MARKETS Sanjay Kumar, Ganpati College of Education,Bilaspur Anju Katyal, S.D.College of Management, Panipat

Tea Break
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Day 1: January 7,2011, 12.00 Noon-1.30PM Track 2: Asset Pricing 1 Chinmoy Ghosh
Session Chair Professor of Finance,Department of Finance, School of Business, University of Connecticut, HAVE BENEFITS OF CROSS-LISTING DISAPPEARED? 12.00 Noon -12.15PM Chinmoy Ghosh University of Connecticut, USA ASYMMETRIC VOLATILITY OF NET CONVENIENCE YIELD: EMPIRICAL EVIDENCE FROM INDIAN COMMODITY FUTURES MARKETS Brajesh Kumar, O P Jindal Global University, Sonipat
Ajay Pandey, IIM, Ahmedabad

12.15PM-12.30PM

DOES INFLATION ANNOUNCEMENT EXPLAIN DYNAMICS OF BOND MARKET YIELD? 12.30PM-12.45PM Sanjay K Singh
Clearing Corporation of India Limited (CCIL), Mumbai

DYNAMICS OF FUTURE PRICE VARIABILTY IN REALTION TO VOLUME AND OPEN INTEREST 12.45PM-1.00PM Sangram Keshari Jena, Kervy Finance Ashutosh Dash , MDI, Gurgaon INFORMATION SIGNALS FROM IPO GRADING IN INDIAN STOCK MARKET: THE EMPIRICAL EVIDENCE 1.00PM-1.15PM Ajay Kumar Chauhan, Lal Bahadur Shastri Institute of Management, New
Delhi.

B D Kavidayal, Kumaun University, Nainital INDIAN EQUITY MARKET - AN ANALYTICAL STUDY ON PRICE BEHAVIOUR OF LISTED INITIAL PUBLIC OFFERS IN INDIA 1.15PM-1.30PM Neelam Dhanda, Kurukshetra University Vinod Kumar , National Institute of Technology, Kurukshetra 1.30PM -2.30 PM Lunch Break

Day 1: January 7, 2011, 2.30PM -4.00 PM Track 2: Asset Pricing: 2 (Behavioural Factors)

Sanjay Bakshi,
Session Chair Professor, Finance Area, Management Development Institute, Gurgaon BEHAVIOURAL FINANCE: AN ANALYSIS OF FACTORS EFFECTING INVESTORS PSYCHOLOGY 2.30PM -2.45PM Saif Siddiqui, Jamia Millia Islamia Shuchita Singh, Jaipuria Institute of Management, , Ghaziabad WHETHER OVERREACTION THEORY CAN BE APPLICABLE ON INDIAN STOCK MARKET? A STUDY 2.45PM-3.00PM Sitangshu Khatua
Jyotirmoy School of Business, Kolkata

FACTORS AFFECTING CHOICE OF MUTUAL FUND SCHEMES BY INVESTORS -AN EMPIRICAL STUDY IN DELHI NCR 3.00PM-3.15PM Shri Prakash & K.C. Arora
Birla Institute of Management Technology, Greater Noida

A STUDY OF INVESTMENT CHOICE OF INDIVIDUAL INVESTORS IN VALSAD DISTRICT 3.15PM-3.30PM Keyur M Nayak
Laxmi Institute of Management, Sarigam

GENERATING BETTER RETURNS THROUGH LOW P/E STOCKS: INDIAN EVIDENCE 3.30PM-3.45PM Hitesh Shukla
Saurashtra University, Rajkot

3.45PM- 4.00PM

Tea Break

Day 1: January 7, 2011, 4.00 PM -5.30 PM Track 2: Asset Pricing 3


Session Chair

C P Gupta
Professor Department of Financial Studies, Delhi University ANALYSIS OF INTEGRATION OF INDIAN STOCK MARKETS WITH GLOBAL MARKETS Aman Srivastava, Jaipuria Institute of Management, Noida Prashat Gupta , Gautam Buddha University, Greater Noida OIL DEREGULATION- IMPACT ON RELATED SECTORS IN INDIA- AN EVENT STUDY ANALYSIS Hemalatha Ramasubramanian, FMG Academy, Greater Noida Jasjit Bhatia, Fortune Institute of International Business, New Delhi INDIAN EQUITY MARKET AND ITS CO-MOVEMENT WITH OTHER INFLUENTIAL MARKETS: AN EMPIRICAL STUDY

4.00PM -4.15 PM

4.15PM-4.30PM

4.30 PM-4.45PM

Shailesh Rastogi,
Jaipuria Institute of Management, Jaipur

4.45PM-5.00 PM

THE ISSUE AT THE BACK OF THE CHANGE IN MARKET TIMINGS IN INDIAN STOCK MARKET AND ITS POST IMPACTS ON VOLATILITY, VOLUME, DEPENDENCE ON NIFTY FUTURES AND INVESTMENT PATTERNS OF FIIs AND DIIs Khagesh Agarwal & Ajay Kr. Chauhan
Lal Bahadur Shastri Institute of Management, New Delhi

5.00 PM-5.15 PM

FUTURE TRADING AND SPOTMARKET VOLATILITY: EMPIRICAL EVIDENCE FROM INDIAN STOCK MARKET Kapil Choudhary & Sushil Bajaj
Chaudhary Devi Lal University, Sirsa

5.15 PM

Tea Break

Day 2: January 8, 2011, 10.00 AM -11.30 AM Track 1: Banking and Financial Institutions
N R Bhusnurmath Professor, Finance Area, Management Development Institute, Gurgaon

Session Chair

MACRO-MANAGEMENT ISSUES OF NON PERFORMING ASSETS IN INDIAN BANKING AN EMPIRICAL ASSESSMENT 10.00 AM 10.15 AM Vighneswara Swamy
IBS-Hyderabad

INNOVATIVE VERSUS TRADITIONAL FINANCIAL PERFORMANCE MEASURES: AN EMPIRICAL ANALYSIS OF INDIAN BANKS 10.15AM-10.30AM Anil K.Sharma & Dipasha Sharma
Department of Management Studies, IIT, Roorkee,

PERSPECTIVES OF TURKISH BANKS ON BASEL II 10.30AM-10.45PM Sema Bayraktar, Evren Hosgr &Tarik Erhan Gztepe
Istanbul Bilgi University, Turkey

FACTORS DETERMINING PROFITABILITY: A STUDY ON PUBLIC AND PRIVATE SECTOR BANKS IN INDIA 10.45AM-11.00AM Divya Gupta & S S Ahmed

Institute of Management & Information Science, Bhubaneswar

ROLE OF EMERGING INCOME STRUCTURE IN ECONOMIC SUSTAINABILITY OF BANKS IN INDIA 11.00AM-11.15AM Ritu Arora
Birla Institute of Technology, Mesra, Jaipur Campus

11.15AM -11.30AM

Tea Break

Day 2: January 8, 2011, 12 Noon-1.15 PM Track 1: Financial Inclus ion


Session Chair Vikram K Chand World Bank MICROFINANCE MOVEMENT: AN IMPACT STUDY 12 Noon -12.15PM Sushil Kumar Mehta, Hari Govind Mishra & Amrinder Singh Shri Mata Vaishno Devi University, Katra STRUCTURED FINANCE FOR MFI SECTOR-NEED FOR PROPER RISK ASSESSMENT Prantik Ray, XLRI, Jamshedpur Saurabh Bhat, Yes Bank Limited FINANCIAL PERFORMANCE OF MICROFINANCE INSTITUTIONS: A NEW MODEL APPROACH Anand Rai, Army Institute of Management and Technology, Greater Noida Kanwal Anil, IILM Institute of Higher Education, Gurgaon MAXIMIZING THE EFFECTIVENESS OF MICROFINANCE SERVICE THROUGH AN INTEGRATED APPROACH A CONCEPTUAL FRAMEWORK 12.45PM-1.00PM Manish Kumar Jha, Banasthali University J.K.Pattanayak, Indian School of Mines University, Dhanbad FINANCIAL INCLUSION 2.0 1.00PM-1.15PM Anshuman Das
M.S Ramaiah Institute of Management, Bangalore

12.15PM-12.30PM

12.30PM-12.45PM

1.15PM - 2.15 PM

Lunch Break

Day 2: January 8, 2011, 2.15 PM-4.00 PM Track 1: Accounting, Governance and Other Issues
Session Chair Shirin Rathore University of Delhi FINANCIAL REPORTING INNOVATIONS: A STUDY OF WEB-BASED CORPORATE REPORTING IN INDIA Divya Verma
Guru Gobind Singh Indraprastha University, Delhi

2.15PM-2.30 PM

2.30PM -2.45PM

INTERNATIONAL FINANCIAL REPORTING STANDARDS: A WAY FOR GLOBAL CONSISTENCY Ravindra Tripathi & Shikha Gupta
Motilal Nehru National Institute of Technology, Allahabad

2.45PM-3.00PM

GLOBAL CONVERGENCE OF ACCOUNTING STANDARDS: AN EMERGING PARADIGM Mohd Anam Akhtar & Ravindra Tripathi
Motilal Nehru National Institute of Technology, Allah abad

3.00PM-3.15PM

TESTING THE PECKING ORDER THEORY IN THE INDIAN CONTEXT: AN EMPIRICAL INVESTIGATION Madhumita Chakraborty
Indian Institute of Management, Lucknow

3.15PM-3.30PM

SERVICE TAX REVENUE FORECASTING MODEL FOR INDIA Monica Singhania


Faculty of Management Studies, University of Delhi, India

3.45PM-4.00PM

BANKING ON MERGERS-THE ICICI BANK MERGER WITH BANK OF RAJASTHAN Suresh Chandra Bihari
IBS, Hyderabad, India

4.00PM-4.30PM

Valedictory Session High Tea

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Day 2: January 8, 2011, 10.00AM-11.45AM Track 2: Asset Pricing 4 (Econometric Models)


Session Chair

Madhusudan Karmakar, Associate Professor, Indian Institute of Management, Lucknow


EXTREME RISK AND FAT -TAILS DISTRIBUTION MODEL: AN EMPIRICAL STUDY IN INDIAN STOCK MARKET

10.00AM-10.15AM

Madhusudan Karmakar
IIM, Lucknow

MULTIVARIATE GARCH ESTIMATION OF THE OPTIMAL HEDGE RATIOS FOR EQUITY FUTURES MARKETS OF INDIAN COMMERCIAL BANKS 10.15AM-10.30AM P. Srinivasan & Sumit Kumar Gupta, Christ University, Bangalore K. Venkatesan, Annamalai University USE OF SOFT COMPUTING TOOLS IN FINANCIAL ECONOMETRICS FOR FINANCIAL TIME SERIES PREDICTION: EMPIRICAL STUDY IN INDIAN CONTEXT 10.30AM-10.45AM Satyajit Dhar, University of Kalyani, Nadia, West Bengal Tuhin Mukherjee & Arnab Kumar Ghoshal, Ramakrishna Mission
Vidyamandira, Belur Math, Howrah

10.45AM-11.00AM

EMPIRICAL ANALYSIS OF THE CAUSALITY BETWEEN INDIAN AND U.S. STOCK MARKETS CONDITIONAL VOLATILITY: SOME FURTHER EVIDENCE Rakesh Kumar & Nisha Rana
Deen Dayal Upadhyaya College (University of Delhi), New Delhi

11.00AM-11.15AM

STOCK MARKET EFFICIENCY AND INTEGRATION: AN EMPIRICAL EVALUATION OF INDIAN AND US STOCK MARKETS Anil K. Sharma & Neha Seth
Indian Institute of Technology, Roorkee

11.15AM-11.30AM

EMPIRICAL EVIDENCE ON WEAK FORM EFFICIENCY IN INDIAN STOCK MARKET Amit Kumar Mishra, Jaipuria Institute of Management, Lucknow Vandna Misra , GLA University, Mathura CORRELATION WITH COPULA FOR MODELING DEPENDENCE STRUTURE OF RUBBER FUTURES MARKETS Debasish Maitra & Kushankur Dey
Institute of Rural Management, Anand (IRMA),Gujarat

11.30AM-11.45AM 11.45AM

Tea Break 11

Valedictory Program
4.00-4.05 PM 4.05-4.15 PM 4.15-4.25 PM Address by the Director, MDI Gurgaon Summing up by Dr Ashutosh Das Address by Sri C S Mahapatra, Director Capital Market Division, Ministry of Finance, and Certificate Distribution Vote of Thank by Dr Samiksha Ojha

4.25-4.30 PM

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