International Financial Management: An Analytical Framework

Table of contents

1. Cover
2. Title Page
3. Contents
4. FOREWORD
5. PREFACE TO THE THIRD EDITION
6. PREFACE
7. ABOUT THE AUTHOR
8. 1 Business Environment
   1. Introduction
   2. Meaning and Definition
   3. Salient Features
   4. Why a Company Need to be an International One?
   5. Importance of the Study
   6. Environmental Factors
   7. Business Environment and Strategic Management: A Glocal Approach
   8. Market Opportunities
   9. Distribution of Household by Income between 2011 and 2012
   10. India’s Political Scenario
   11. Recent Economic and Financial Environment
   12. Annual Growth Rate of GDP in India
       1. Case
       2. Summary
       3. Key Words
       4. Questions
       5. References
9. 2 Planning in India
   1. The Emergence of Planning
   2. The Planning Commission
   3. The National Development Council
   4. Objectives of Planning in India
   5. Five-Year Plans
   6. Distribution of Public Sector Outlay of Each Plan
   7. Five-Year Plans—Achievements and Failures
   8. Twelfth Five-Year Plan (2012–17)
   9. Liberalization and Planning
      1. Case
      2. Summary
      3. Key Words
      4. Questions
      5. References
10. 3 Industrial Policy
    1. Historical Background
    2. Government’s Role
    3. Meaning and Objectives of Industrial Policies
    4. Industrial Policies
    5. Evaluation of the New Industrial Policy
    6. New Trade Policy of 1991
    7. The New Small-Scale Sector Policy of 1991
    8. Recent Policies for Micro and Small Enterprises (MSE) Sector
       1. Case
       2. Summary
       3. Key Words
       4. Questions
       5. References
11. 4 Industrial Licensing
    1. Industrial Licensing in India
    2. Objectives of Industrial Licensing
    3. Industrial Licensing Act of 1951
    4. Industrial Licensing Policy
    5. Policy Decisions
    6. Recent Industrial Licensing Policy
    7. Annexure I
    8. Annexure II
    9. Annexure III
    10. Summary
    11. Key Words
    12. Questions
    13. References
12. 5 India’s Monetary and Fiscal Policy
    1. I. Monetary Policy of India
    2. Concept and Meaning of Monetary Policy
    3. Objectives of the Monetary Policy
    4. Differences Between Monetary Policy and Fiscal Policy
    5. Meaning of Monetary Policy Terms
    6. Impact of the Monetary Policy
    7. Measures to Regulate Money Supply
    8. The Monetary Policy and IMF
    9. RBI’s Monetary Policy Measures
    10. RBI’s Monetary Policy, 2012–13
    11. II. Fiscal Policy of India
    12. Concept and Meaning of Fiscal Policy
    13. Objectives of the Fiscal Policy
    14. Fiscal Policy and Economic Development
    15. Techniques of Fiscal Policy
    16. Merits of Fiscal Policy of India
    17. The Shortcomings of the Fiscal Policy of India
    18. Suggestions for Necessary Reforms in Fiscal Policy
    19. Fiscal Policy Statement, 2012–13
    20. Fiscal Policy—An Assessment
    21. Conclusions
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
13. 6 Economic Trends
    1. I. The Indian Financial Systems
    2. Indian Money Market
    3. Indian Capital Market
    4. Call Money Market
    5. Bill Market
    6. Financial System
    7. Structure of the Financial System
    8. Functions of the Indian Financial System: Promotion of Capital Formation
    9. II. The Price Policy
    10. Price Movement Since Independence
    11. Objectives of Price Policy
    12. Prices of Industrial Products
    13. Control of Expenditure
    14. Key Words
    15. Questions
    16. References
14. 7 Stock Exchanges in India
    1. Concept and Meaning of Stock Exchange
    2. Functions of Stock Exchange
    3. List of Stock Exchanges in India
    4. Types of Financial Markets
    5. Participants in the Securities Market
    6. Listing of Security at Regulatory Stock Exchange
    7. Depository Services
    8. Dematerialization
    9. Products Available in the Secondary Market
    10. SEBI and its Role in the Secondary Market
    11. Powers of Security Exchange Board of India
    12. Regulatory Requirements Specified by SEBI for Corporate Debt Securities
    13. Broker and Sub-Broker in the Secondary Market
    14. SEBI Risk Management System
    15. Investor Protection Fund (IPF)/Customer Protection Fund (CPF) at Stock Exchanges
    16. Foreign Institutional Investors (FIIs)
    17. Growth of Stock Market in India
    18. Key Words
    19. Questions
    20. References
15. 8 National Income
    1. Meaning and Definition of National Income
    2. Concepts of National Income
    3. National Income Estimates in India
    4. Methodology of National Income Estimation in India
    5. Causes for the Slow Growth of National Income in India
    6. Suggestions to Raise the Level and Growth Rate of National Income in India
    7. Major Features of National Income in India
    8. Difficulties or Limitations in the Estimation of National Income in India
    9. Key Words
    10. Questions
    11. References
16. 9 Industrialisation and Economic Development
    1. Concept and Meaning of Industrialisation
    2. The Pattern of Industrialisation
    3. Relative Roles of Public and Private Sectors
    4. Inadequacies of the Programme of Industrialisation
    5. Role of Industries in the Economic Development
    6. Industries During the Plan Period
    7. Recent Industrial Growth
    8. Micro and Small Enterprises (MSEs)
    9. Challenges and Outlook
    10. Key Words
    11. Questions
    12. References
17. 10 Foreign Trade Policy and Balance of Payments
    1. Foreign Trade Policy and Balance of Payments
    2. Main Features of India’s Trade Policy
    3. Phases of India’s Trade Policy
    4. India’s Foreign Trade Policy, 1991
    5. Major Trade Reforms
    6. Highlights of Foreign Trade Policy 2009–14 Annual Supplement 2013–14
    7. Assessment of the New Trade Policy
    8. Balance of Payments
    9. Current Account Deficit
    10. Capital Account
    11. Other Non-debt Flows
    12. Disequilibrium of BoP
    13. Key Words
    14. Questions
    15. References
18. 11 Poverty in India
    1. Concept, Meaning, and Definition of Poverty
    2. People Living under Poverty Line
    3. Causes of Poverty in India
    4. Historical Trends in Poverty Statistics
    5. Poverty and Inclusive Growth
    6. Factors Responsible for Poverty
    7. Measures to Reduce Poverty
    8. Poverty Alleviation Programmes
    9. Poverty Alleviation Through Micro-credit
    10. Outlook for Poverty Alleviation
    11. Controversy Over the Extent of Poverty Reduction
    12. McKinsey Global Institute (MGI) Report on Poverty in India
    13. Four Critical Elements are Key to the Path of Inclusive Reforms
        1. Case
        2. Key Words
        3. Questions
        4. References
19. 12 Unemployment in India
    1. Concept, Meaning, and Types of Unemployment
    2. Nature of Unemployment in India
    3. Magnitude of Unemployment
    4. Factors Responsible for Unemployment
    5. Steps to Reduce Unemployment
    6. Government Policy Measures to Reduce Unemployment
    7. Overview of Unemployment and Underemployment
    8. McKinsey Report
       1. Case
       2. Key Words
       3. Questions
       4. References
20. 13 Inflation
    1. Meaning and Definition of Inflation
    2. Features of Inflationary Economy
    3. Measures of Inflation
    4. Inflation and Developing Economies
    5. Demand-Pull vs Cost-Push Inflation
    6. Causes of Inflation
    7. Effects of Inflation
    8. Global Inflation and India
       1. Case
       2. Key Words
       3. Questions
       4. References
21. 14 Human Development
    1. Concept of Human Development
    2. Meaning and Importance of Human Resource
    3. How to Attain Human Development
    4. Human Development and Gender Situation
    5. Growth of Human Development
    6. Human Development Report (2007–08)
       1. Case
       2. Summary
       3. Key Words
       4. Questions
       5. References
22. 15 Rural Development
    1. Concept, Meaning, and Definition of Rural Development
    2. Integrated Rural Development
    3. Important Features of Rural Economy and Rural Society
    4. Scope of Rural Development
    5. Interdependence Between Rural and Urban Sectors
    6. Strategies for Rural Development
    7. Rural Water Supply and Sanitation
    8. Women and Child Development
    9. Challenges and Outlook
    10. Rural Development: A Critical Analysis
    11. McKinsey Report
    12. Key Words
    13. Questions
    14. References
23. 16 Problems of Growth
    1. Parallel Economy
    2. Regional Imbalances
    3. Social Injustice
       1. Case
       2. Key Words
       3. Questions
       4. References
24. 17 Direct and Indirect Taxes
    1. Introduction
    2. Governing Authority
    3. Direct Tax
    4. Income Tax
    5. Wealth Tax
    6. Corporation Tax: India and the World
    7. Indirect Tax
    8. Income Exempted Under Section 10
    9. Assessee [Section 2(7)]
    10. Total Income
    11. Excise Duties
    12. Customs Tariff
    13. Central Sales Tax (CST)
    14. Modified Value Added Tax (MODVAT)
    15. Central Value Added Tax
    16. Value Added Tax (VAT)
    17. Service Tax
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
25. 18 MRTP, FERA, and FEMA Act
    1. Monopolies and Restrictive Trade Practices Act (MRTP), 1969
    2. Foreign Exchange Regulation Act (Fera), 1973
    3. Foreign Exchange Management Act (FEMA), 1999
    4. New Competition Policy
       1. Case
       2. Key Words
       3. Questions
       4. References
26. 19 Business Ethics
    1. Ethics and Values
    2. Relevance of Ethics in Business
    3. Benefits of Ethical Business
    4. Importance of Business Ethics
    5. Values in Business
    6. Inculcating Values in Management
    7. Categories of Business Values
    8. Need for Ethics in Global Change
    9. Managing Ethics
    10. Impact of Globalisation on Business Ethics
    11. Business Ethics as Competitive Advantage
    12. Business Ethics in India
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
27. 20 Corporate Governance
    1. Definition
    2. The Need and Importance of Corporate Governance
    3. Problems of Corporate Governance
    4. Best Practices in Corporate Governance: An Indian and International Position Review
    5. The Board—Key to Good Corporate Governance
    6. Disclosure and Transparency: Partners of Good Governance
    7. Executive and Non-executive Directors
    8. Brief Review of Overseas Development on Governance Issues
    9. The Search for a New Approach to Corporate Governance
    10. Code of Conduct for Corporate Governance
    11. Measures to Improve Corporate Conduct
    12. Corporate Governance and India
    13. Challenges Before Managers
    14. Corporate Governance and Some Indian Organisations
    15. Regulatory Framework of Corporate Governance in India
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
28. 21 Social Responsibility of Business
    1. Origin and Growth of Concept
    2. Meaning and Definition
    3. Definition Through Various Dimensions
    4. The Need for Social Responsibility of Business
    5. Social Responsibilities of Business Towards Different Groups
    6. Barriers to Social Responsibility
    7. Corporate Accountability vis-à-vis Social Responsibility
    8. Challenges for Social Responsibility of Business
    9. Emerging Perspectives for Corporate Social Responsibility
    10. Social Responsibility of Business in India
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
29. 22 Liberalization
    1. Background
    2. Policy Changes
    3. Economic Liberalizations
    4. Meaning of Liberalization
    5. The Path of Liberalization
    6. Reform Achievements
    7. Industrial Growth
    8. Liberalization—An Assessment
    9. Liberalization and Growth of Indian Economy
    10. Issues and Challenges
        1. Case
        2. Key Words
        3. Questions
        4. References
30. 23 Privatization and Disinvestment of PSUs
    1. Public Sector Enterprises (PSEs)—The Necessity
    2. A Decade of Performance
    3. Concept, Meaning, and Objectives of Privatization
    4. Disinvestment Strategies
    5. The Board for Reconstruction of Public Sector Enterprises (BRPSE)
    6. The New Disinvestment Policy and Programme
       1. Case
       2. Summary
       3. Key Words
       4. Questions
       5. References
31. 24 Globalization
    1. Background
    2. Views of Scholars on Globalization
    3. Studies on Globalization
    4. Efforts of Anglo-Americans
    5. Salient Aspects of Globalization
    6. Role of Transnational Corporations (TNCs)
    7. Popular and Successful Transnational Corporations (TNCs)
    8. Concept and Meaning
    9. Definition
    10. Features
    11. Globalization is Inevitable
    12. Ten Rules of Global Reforms
    13. India and Globalization
    14. Government’s Measures Towards Globalization
    15. Globalization and its Impact on the Indian Industry
    16. Positive Effects of Globalization
    17. Negative Effects of Globalization
    18. Pro-globalization
    19. Anti-globalization
    20. Globalization—An Assessment
    21. A Critical Appraisal of Globalization
    22. Threats to Globalization
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
32. 25 Foreign Investment
    1. Meaning
    2. Need for Foreign Investment
    3. Adverse Implications of Foreign Investment
    4. Determinants of Foreign Investment
    5. Government Policies
    6. Liberalization and Changing Sectoral Composition of FDI
    7. Liberalization and Changing Sources of FDI in India
    8. Impact of FDI Inflows: Some Issues
    9. Rising Importance of FDI in Indian Economy
    10. R&D, Local Technological Capability, and Diffusion
    11. FDI and the Knowledge-based Economy in India: Software and Global R&D Hub
    12. Foreign Technology Transfers
    13. Policy Lessons
    14. New Policies
    15. A Comparative Statistical Outline of FDI
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
33. 26 Multinational Corporations
    1. Origin
    2. Meaning
    3. Definition
    4. Objectives
    5. Modes of Entry into Foreign Markets
    6. Global Sourcing
    7. Reasons for the Growth of MNCs
    8. Favourable Impact of MNCs
    9. Harmful Effects of the Operations of MNCs on Indian Economy
    10. Domination of MNCs over Indian Economy
    11. Liberalization and MNCs
    12. A Critique of MNCs
    13. Multinational Companies and Production Linkages
    14. MNCs Deal a Blow to Domestic Companies
    15. MNCs and Global Imbalance
    16. Acquisition of MNCs by Indians
        1. Case 1
        2. Case 2
        3. Summary
        4. Key Words
        5. Questions
        6. References
34. 27 India’s Import–Export Policies
    1. Historical Perspective
    2. Governing Authority
    3. India: Pre- and Post-liberalization
    4. Liberalization Policy of Exim
    5. Annexure I
    6. Annexure II
    7. Annexure III
    8. Exim Performance
    9. Exim Policies
    10. India’s Exim Performance
    11. Regional Trade Agreements
    12. Export Promotion Measures
    13. Special Economic Zones
    14. Agri-export Zones
    15. Highlights of Foreign Trade Policy, 2009–2014
        1. Case
        2. Summary
        3. Key Words
        4. Questions
        5. References
35. 28 Special Economic Zones in India
    1. Concept and Meaning of SEZ
    2. The History of SEZ
    3. Definition of SEZ
    4. Who Can Set up SEZ and its Requirements
    5. Approval Mechanism
    6. SEZs In India
    7. Advantages and Disadvantages of SEZ
    8. Performance of SEZ In India
    9. Important SEZs in India
    10. Features and Facilities of SEZs in India
    11. SEZ and Export Promotion
    12. SEZ Policy of India: SEZ Act and SEZ Rules
    13. Salient Features/Provisions of SEZ Rules
    14. SEZ Controversy
    15. SEZs—A Global Overview
    16. Conclusion
    17. Case
        1. Key Words
        2. Questions
        3. References
36. 29 International Business Environment
    1. The Nature of International Business Environment
    2. Trends in the World Trade and Economic Growth
    3. General Agreement on Tariffs and Trade (GATT)
    4. General Agreement on Trade in Services (GATS)
    5. International Organizations
    6. International Monetary Fund (IMF)
    7. World Bank (WB)
    8. An Evaluation of IMF–WB
    9. World Trade Organization (WTO)
    10. International Finance Corporation (IFC)
    11. Asian Development Bank (ADB)
    12. United Nations Conference on Trade and Development (UNCTAD)
    13. United Nations Industrial Development Organization (UNIDO)
    14. International Trade Centre (ITC)
    15. Generalized System of Preferences (GSP)
    16. Global System of Trade Preferences (GSTP)
        1. Case
        2. Key Words
        3. Questions
        4. References
37. 30 World Trade Organization
    1. Background
    2. Meaning and Agreements
    3. Functions
    4. Principles of Trading
    5. Provisions for Developing Countries
    6. Other Provisions
    7. The WTO Agreement
    8. Liberalizing Trade in Goods
    9. Textiles—Back in the Mainstream Rules
    10. Agriculture: Fairer Markets for all
    11. Trade Remedies
    12. Standards and Procedures
    13. Administrative Procedures
    14. Investment Measures
    15. Disputes Settlement Mechanisms
    16. Ministerial Meetings
    17. Trade-related Aspects of Intellectual Property Rights (TRIPs)
    18. Trade-related Investment Measures (TRIMs)
    19. Non-tariff Barriers (NTBs) and Dispute Settlement Mechanism
    20. Anti-Dumping Measures
    21. Subsidies
    22. Singapore Ministerial Meeting, 1996
    23. Geneva Ministerial Meeting, 1998
    24. Seattle Ministerial Meeting, 1999
    25. Doha Ministerial Meeting, 2001
    26. Cancun Ministerial Meeting, 2003
    27. Trade and Development: Recent Trends and the Role of the WTO
    28. Conclusion
    29. Summary
    30. Key Words
    31. Questions
    32. References
38. GLOSSARY
39. BIBLIOGRAPHY
40. INDEX
41. copyright