Two Day International Seminar

On

Recent Trends in Capital Markets and Financial Innovations

(RET CAM FIN - 2009)

held during

10th & 11th January, 2009

Organized by

Department of Commerce and Financial Studies

Bharathidasan University

T1ruchlrappalll- 620 024, Tamil Nadu, INDIA

SMART Journal of Business Management Studies (A Professional, Refereed, International and Indexed Journal)

www.smartjournalbms.org

Venue

A/C Auditorium, Bharathidasan University Main Campus

Organizer

Dr. M. SELVAM

Seminar Director

Head, Dept. of Commerce and Financial Studies

Bharathidasan University

Tiruchirappalli -620 024

&

Founder - Publisher &Chief Editor

SMART Journal of Business Management Studies

Phone (0) +91-431-2407029, 2407071

(Extn- 619), Mobile +91-9443025112

·. t,~

Registration Fee

.:. Rs. 750 per delegate from companies / industries.

.:. Rs. 450 per faculty delegate / accompanying person.

.:. Rs. 350 per delegate for student! scholar delegate,

.:. US $ 100 for International participants (forei{n delegatesshould pay registration fee in value equivalent to Indianrupees on the spot).

The registration fee covers lunch, tea and seminar kit.The fee should be paid in the form of Cash! Money Order/Crossed DD drawn in favour of Dr.M.Seivam, SeminarDirector, Bharathidasan University, payable atTiruchirappalli. THE AUTHOR AND CO-AUTHORSHOULD REGISTER SEPARA TEL Y. The seminar kits willnot be arranged for accompanying person and for those whoregister after last date.

International Seminaron

RECENT TRENDS IN CAPITALMARKETS AND RNANCIAL

INNOVATIONS(RET CAM FIN 2009)

Important Dates

December 1, 2008 Submission of Abstractand Full Paper,Registration Deadline

January 10-11, 2009 Dates of the Seminar

For more details, please visit our website:http://www.bdu.ac.in/cs2009.htm

The address for all correspondenceDr. M. Selvam,

Seminar Director, RET CAM FIN·2009Reader, Department of Commerce and Financial Studies,

Bharathidasan University, Tiruchirappalli·620 024. Tamil Nadu. INDIA&

Founder- Publisher & Chief Editor,SMART Journal of Business Management StudiesPhone (0) +91-431-2407029, 2407071 (Extn- 619),®+91 -431-2341112, Mobile +91-9443025112.

E·mail - drmselvam@yahoo.co.in

Organized by

Department of Commerceand Financial Studies

School of Economics and Commerce

Bharathidasan UniversityTiruchirappalli - 620 024

Tamil Nadu, India .

Contribute Articles and Subscribe toSMART Journal of Business Management Studies

(An International referred serial)Visit

http://www.geocities.comlsmartbard

.."::'

I,

The Department of Commerce and Financial Studies,Bharathidasan University, Tiruchirappalli, Tamil Nadu,India proposes to conduct an INTERNATIONAL SEMINARon IO" and l l" January, 2009, in line with its policy ofconducting annual seminars on the theme of capital marketresearch. This annual feature forms an important event in thedomain of capital market research. A large number of authorsfrom academia and industry, both from India and abroad,will present their research papers in the seminar. Manyresearchers, students and industry professionals wouldparticipate in the seminar and contribute to the developmentof knowledge. This year's seminar will be organized onRecent Trends in Capital Markets and FinancialInnovations (RET CAM FIN 2009).Seminar Theme

This year's seminar endeavours to examine the differentdimensions of the fmancial sector. Among the intermediaries,mutual funds show signs of considerable change. Securitymarkets regulation, its evolution and the challenges faced byit have become an important matter of interest and debate.Further, issues pertaining to the debt market and derivativesmarket continue to nag the Indian financial markets. Theseminar encourages policy research. The seminar on "RecentTrends in Capital Markets and Financial Innovations(RET CAM FIN 2009)", therefore, proposes to inviteRESEARCH PAPERS in the following Seminar tracks:

Important Guidelines for Submission of ResearchPapers~ Abstracts, not exceeding 75 words, should reach us on

or before the deadline. Authors must clearly indicate thebroad area (Track) mentioned above in which their paperscould be considered.

~ The registration could be made if you provide the nameof the author and co-author if any, corresponding address,e-mail ID, fax, telephone number, title of the paper, DDparticulars, etc in writing (in white paper).

~ The length of the manuscript should not exceed 10-12pages, inclusive of table, figures, illustrations andreferences.

~ The manuscripts will be subjected to blind reviewprocess.

~ The participants may send a hardcopy of the manuscript;together with the Floppy or CD. However, the participantsmay also submit their paper as an e-mail attachment using

MS Word to dnnselvam@yahoo.co.in~ Title of accepted papers for presentation will be intimated

through e-mail.

~ The use of e-mall is encouraged for all furthercorrespondence including acceptance of letter,invitation, etc.

Track ThemesA Debt Market and InstrumentsB Equity MarketC Derivatives Market and Instruments0 Capital Market Intermediaries- Mutual Fund. Insurance, Pension

Fund, Credit RatingE Regulation of Capital Market· SEBIF Corporate GovernanceG Investors Education and GrievancesH Financial Engineering and InnovationI Other Relevant Areas

Publication of Research Papers.:. If the RESEARCH PAPERS are prepared as per the

guidelines of SMART Journal and considered to be ofacademic value by the panel of reviewers, they will bepublished in the SMART Journal of BusinessManagement Studies (An International referredserial).

,••..~:~

Two Day International Seminar

On

Recent Trends in Capital Marketsand Financial Innovations

(RET CAM FIN - 2009)

10th and 11th January, 2009

Department of Commerce and Financial StudiesSchool of Economics and Commerce

Bharathidasan UniversityTiruchirappalli - 620 024

Tamil NaduINDIA

All are cordially invited to theTwo Day International Seminar

On

Recent Trends in Capital Markets andFinancial Innovations

Venue : A/C Auditorium (Near Maths Department),Bharathidasan University, Main Campus.

10.01.09 - Saturday

9.00 am Registration

9.30 am Inaugural Function

Inaugural Speech Dr. M. PonnavaikkoVice Chancellor, Bharathidasan University.

Keynote The Global Financial Crisis : PerspectivesAddress on of Followers, Leaders and Thinkers

Dr. Satya P. ChattopadhyayProfessor, The Kania School of Management, U S A.

11.45 am Plenary Session-I

Special Lecture on

Evaluation of Mumbai as an InternationalFinancial CenterDr. Sankaran VenkateswarProfessor of Accounting, Trinity University, U S A

2.00 pm Plenary Session-IISpecial Lecture on

Earnings Management for FraudulentFinancial Reporting in MalaysiaDr. Sakthi MahenthiranCarl Doty Full Professor of Accounting, Butler University,College of Business Administration, INDIANAPOLIS

3.45 pm Paper Presentation - Parallel Sessions5.15 pm Cultural Programme

11.01.09 - Sunday

9.00 am Registration9.30 am Plenary Session-III

Special Lecture on

Growth and Development of Capital Marketin Bangladesh

Dr. Arabinda SahaAssociate Professor in Accounting,Islamic University, BANGLADESH

Special Lecture on

Iranian Stock Exchange : Challenges andOpportunities

Dr. Hamid SaremiDepartment of Accounting, Islamic Azad University of Torbatjum,(Ex- Vice Chancellor, Islamic Azad University of Torbatjum), IRAN

11.45 am Paper Presentation - Parallel Sessions

2.00 pm Plenary Session-IV

Special Lecture on

Effect of Global Recession on Indian CapitalMarketDr. S.KarthikeyanDirector, Coimbatore Capital Market (P) Ltd, Coimbatore, INDIA.

Special Address

Dr. RalphDirector, International Affairs, All Nations University, GHANA.

Mr. B.F. KusiAccounts Officer, All Nations University, GHANA.

3.00 pm Valedictory Function

Presidential Dr. T. RamaswamyAddress Registrar, Bharathidasan University,

Special Address Dr. Samuel DonkorPresident, All Nations University, Koforidua, GHANA.

Valedictory SEBI and Investors’ ProtectionAddress on Mr. S. Dhakshinamurthy

Regional Manager,Securities Exchange Board of India, Chennai, INDIA.

Dr. M. SelvamSeminar Director and Head,

Department of Commerce and Financial Studies,Bharathidasan University.

&

Founder - Publisher and Chief Editor,SMART Journal of Business Management Studies

Cell : +91 - 94430 25112E-mail : drmselvam@yahoo.co.in

Bharathidasan University Website : http://www.bdu.ac.in

Contribute Articles and Subscribe toSMART Journal of Business Management Studies(An International Serial of Scientific Management and Advanced Research Trust)

Visithttp:// www.geocities.com/smartbard

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lutedgalten

'OrWomen in Tiruchi on

70 male convicts, who werereleased on parole on Tues-day, at a function held at theCamp Jail.

Superintendent of Prison,Central Prison, Tiruchi, A.Murugesan, Deputy Commis-sioner of Police (Law and Or-der) R. Chinnasamy and jailofficialswere present.

71T~ lit tv ~l/ - ;}D1Y). ) y. .~Recent trends in capitamarkets discussedStaff Reporter

• "India has fourstrengths"

• "Innovate financialinstruments"

that firms involved in fraudu-lent financial reporting hadsignificantly poor corporategovernance structures whe-reby the audit quality waslower and outside directorsseem overcommitted.

However, there is no evi-dence that a firm's politicalconnection factor or the levelof board independence playsa significant role in the poten-tial for fraudulent financialreporting.

Hamid Saremi of Depart-ment of Accounting, IslamicAzad University of Torbat-jum, (Ex-Vice Chancellor, Is-lamic Azad University ofTorbatjum), Iran, spoke on'Iranian stock exchange: chal-lenges and opportunities.' Hesaid the financial crisis, beingendemic, affected the stockexchanges throughout theworld.

Earlier, inaugurating theconference, Vice-ChancellorM. Ponnavaikko called uponteachers and scholars to in-novate financial instrumentsfor developing agriculturalsector, and to take the sup-port of the Confederation ofIndian Industry to developcapital market in villages.

Souvenir releasedProf. Ponnavaikko released

a souvenir consisting of ab-stracts of the papers receivedfor presentation. M. Selvam,Reader and Head, Depart-

ment of Commerce and Fi-nancial Studies, listed thestrengths of the department,particularly on the fronts oflibrary facility and research.

Delivering the valedictoryaddress, Dhakshinamurthy,Assistant General Manager,Security Exchange Board ofIndia, Chennai, said the stat-utory objectives of SEBIwereto protect the interests of in-vestors in securities; promotedevelopment of the securitiesmarket, and regulate the se-curities market. He saidtransformation ofIndian cap-ital market had been rapiddue to large number of re-forms undertaken by the SE-BI in consultation with theGovernment.

Changes explainedMr.Dhakshinamurthy ex-

plained the several changes inmutual fund operations likegold exchange traded fund,mutual fund investment inoverseas market,' and disclo-sure documents.

The SEBI, he said, wasworking continuously formarket development and tobring in further efficiencyandtransparency in the securitiesmarket while. protecting theinterest of investors in secur-ities.

Registrar T. Ramaswamypresided over the valedictoryfunction.

Twenty delegates fromeight countries, including theUS,Canada, Bangladesh, Eth-iopia, Ghana, Iran and SriLanka participated, Therewere 400 delegates from allover the country. Around 250research papers were pre-sented.

TlRUCHI: Debt Market, EquityMarket, Derivatives Market,Mutual Funds, Capital Mar-ket regulations, CorporateGovernance, Investors Edu-

, cation and Grievances, andFinancial Innovations wereamong the topics discussedduring the two-day interna-tional seminar on 'Recenttrends in capital markets andfinancial innovations (RETCAMFIN - 2009): organisedby the Department of Com-merce and Financial Studies,Bharathidasan University,recently.

Sankaran Venkateswarfrom Trinity University, Tex-as, detailed on the scope forMumbai to emerge as an in-ternational financial centrelike New York, London andTokyo.

Delivering a special lectureon 'Evaluation of Mumbai asinternational financial cen-tre', Dr. Sankaran pointed outthat India with a high humancapital endowment had fourstrengths to accord Mumbai acompetitive edge over Shang-hai, Singapore and Dubai.Those were extensive use ofEnglish; generations of expe-rience with entrepreneur-ship, speculation, trading insecurities and derivatives,risk taking and accounting;strong skills in informationtechnology and quantitativethinking, and prominent roleof individuals ofIndian originin global financial firms thatcan act as intermediaries inthe development of Mumbaias a financial centre.

Sakthi Mahenthiran fromButler University observed

Ientity cards to new voters: Collector

TlRUCHIRAPALLI

THE Il'INDU • TUESDAY, SEPTEMBER 15, 2009anti reconect i~ e mruateu uuo acuviues: Slampracuce.ann trairung,

"Global financial crisis is manmade"

f.,

TIRUCHI: The economic slow-down caused by the global fi-nancial meltdown, its impact inIndia, country-specific finan-cial crises in the past, and per-formance of mutual funds weredeliberated upon during thetwo-day national seminar on'Global Financial Crisis and itsImpact on Indian FinancialSystem' organized by the De-partment of Commerce & Fi-nancial Studies, BharathidasanUniversity, on Saturday andSunday.

M.R. Subramanian, Secretaryand Correspondent, UrurnuDhanalakshmi College, observ-ed that the crisis was manmade.Short term borrowing and longterm lending was the reason be-hind crisis which resulted in as-set liability mismanagement, hesaid. He dwelt on the impact ofthe economic crisis on money

1nt,e

:er

dbysad}

market, capital market, foreignexchange market and banking.

The souvenir consisting ofthe abstracts of papers receivedfor presentation was released atthe inaugural function, the De-partment Head M. Selvam said.

G. Veerakumaran, Depart-ment of Banking and Manage-ment, Kerala AgriculturalUniversity, Thirssur, made apresentation on 'Global Finan-cial Crisis and its Impact on In-dian Economy'. Stimuluspackages, easier credit termsand tax cuts, poverty alleviationprogramme and implementa-tion of Sixth Pay Commissionrecommendations are amongthe steps taken by the Centre toovercome the economic crisis,he said.

M. Victor Louis Anthuvan,Chairperson, Research Wing,Loyola Institute of Business ad-ministration, Chennai, in hisspecial lecture on 'Financial

4itl'

Crisis and its Impact on GlobalEconomy', observed that the'don't save, spend' tendency inthe United States has causedthe crisis, and that the savingshabit in India (38 per cent ofnational income) enabled thecountry to manage the crisis.P-.Gunabalan, Director, SeekingConsultancy Service, Tiruchi,delivered a special lecture on'Impact of Financial Crisis onMutual Funds in India'. He ana-lyzed the position of stock ex-change during the crisis and itsimpact on the collection of mu- +tual fund industry, new fund of-fers, existing schemes andinvestor behaviour.

About 40 delegates from dif-ferent states like Uttarkhand,Andhra Pradesh, Kerala, Pudu-cherry and 120 delegates fromallover Tamil adu participa-ted.

Around 62 research paperswere presented.