In this paper we ask if the perception investors have regarding ethical nature of the management per se influences their action. In order to check for rent seeking behaviour that could arise when there is negative perception regarding ethics, we look a single company’s management whose actions...

Given the complexity of over-the-counter derivatives and structured products, al- most all of derivatives pricing today is based on numerical methods. While large fi- nancial institutions typically have their own team of developers who maintain state- of-the-art financial libraries, till a few...

Objective function in term structure estimation with price errors is not only non-linear but also non-convex in parameters. This makes the final results sensitive to both the choice of the optimization routine as well as to the starting guess. This study looks at the impact of the choice of the...

This study is an attempt to generate empirical evidence on the time discount rate or “impatience” of forest dependent communities (FDCs). The FDCs covered in the study include two different geographical regions from the Indian state of Andhra Pradesh – Rayalaseema (a relatively dry forest...

This study is an attempt to generate empirical evidence on attitude towards risk of forest dependent communities (FDCs). The FDCs covered in the study include two different geographical regions from the Indian state of Andhra Pradesh – Rayalaseema (a relatively dry forest region with low...

This study addresses operational issues in estimation of parsimonious term structure models. When using price errors, objective function in term structure estimation is a highly non-linear function of the parameters. This necessary entails using numerical optimization techniques for estimation,...

This study assesses and compares, on select criteria of evaluation, the time series of daily term structure estimates provided by the National Stock Exchange (NSE) [using the Nelson-Siegel (1987; NS) methodology] with author’s own estimates of NS, Svensson (1992; SV) and Cox-Ingersoll-Ross (1985; CIR)....

Output gap estimates are constructed for India using unobserved components model (UCM) approach on the lines of Watson (1986) and Kuttner (1994). Results from UCMs are not found to be any less sensitive to data revisions when compared to those from the Hodrick-Prescott filter. This, however,...

This study is part of an on-going work on assessing the information content of the term structure in India for future inflation, future short rates and real interest rates. In this part, first the Indian term structure is modeled using three alternative specifications and changes in slope of the...