Reflections April-June, 2013

Quarterly Newsletter Department of Commerce Delhi School of Economics

REFLECTIONS April-June, 2013

CONTENTS From the Archives

4

Role of Honour

5

Departmental Activities

7

Students' Activities

16

Adieu to Batch 2011-2013

20

Research Output

22

Initiatives

24

Forthcoming events

29

Faculty Corner

30

Reforms in the Department

35

News Highlights

36

Editorial Team Dr. Kavita Sharma- Editor-in-Chief Dr. Sunaina Kanojia- Associate Editor Ms. Sonia Kamboj- Faculty

Message from the Dean

The “Reflections” is getting a new 'look' as well as a new feel from 'inside'. In this issue, we are adding a section on “from the Archives” which contains valuable information on the foundation of Department of Commerce and the Faculty of Commerce and Business alongwith rare pictures and historical material. In the next issue, we have plans to add sections on “Activities in Colleges” and “Research Articles” written by the researchers in the Department of Commerce. I expect that these articles will give an in-depth description of some of the exciting research projects that are currently underway in the Department and will provide an insight into the potential impact of the research projects. The main goal of this section would be to reveal some of the research opportunities offered to our research scholars. I congratulate the Editorial Team for their hard work and enterprise in producing the second issue of “Reflections”. I look forward to reading many more excellent issues of the Department's newsletter in the times to come. I hope you will enjoy reading this issue and we welcome your feedback on any aspect of the newsletter. Sincerely,

Prof J P Sharma Head and Dean

Editor Speak

This edition of quarterly newsletter - 'Reflections' showcases various departmental activities since its launch during M.Com convention held in the month of April'13. Developing the course content for four year degree course and conducting the commerce convention were the two key activities held at the Department during this period. The successful completion of these two 'Mega' events is in itself the testimony to the rigor put in by one- and-all under the able guidance of Prof. J.P. Sharma and deserve the due applauds and a wide coverage here in this edition. Archives - the new section add a dimension to this addition. Formation of Faculty of Commerce and Business is one of the landmarks in the Department history and I hope you will find it interesting to read. In future, we are planning to add the Research Output section with an idea to account for the fervor with which department is participating in the process of knowledge creation. This section will cover the brief about the research work examined for the award of M. Phil and Ph.D. degrees submitted to the department. With the end of admission process for various courses, department geared itself to welcome the new batch of students for the academic session 2013-15. The details about admission process for all the courses offered by the department have been covered, thus giving an idea about the number of aspirants looking forward to be its part. Through this addition I welcome them all and wish them success in their endeavours.

Dr. Kavita Sharma

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Quarterly Newsletter

Message from Associate Editor

It is heartening to write a message for the second issue of the newsletter from the Department of Commerce. The present issue of the newsletter will take you down in the memory lane when the Faculty of Commerce and Business was inaugurated; the same faculty has grown manifold with the legacy of senior academicians and rigor of incumbents from time to time. I would like to convey my heartfelt thanks to all faculty members and research scholars who participated in the second Annual Commerce Convention and made it a grand success. I would also like to acknowledge the hard work of more than three hundred teachers who contributed in the making of commerce syllabus for the four year degree programme. The past four months were full of academic interactions with Atharva and Conflux, the management festival, special lecture on “Capital Budgeting Practices: A Survey of Central and Eastern European Firms” by Prof Sunil. K. Mohanty from Department of Finance, Opus College of Business University of St. Thomas Minneapolis, United States of America and academic interaction with team CRISIL. I hope the enrichment would carry on in future too. All the best for future endeavors.

Dr. Sunaina Kanojia

Reflections: April-June 2013

3

From the Archives Historically, Delhi School of Economics was set up in early 1950s with a separate Governing Body headed by the then Prime Minister Pt. Jawahar Lal Nehru on the pattern of London School of Economics. Up to 1956-57, M.Com teaching was done at Shri Ram College of Commerce, and the overall academic responsibility was then with the Department of Economics. In mid-1950s, the UGC sanctioned one post of Professor of Commerce and two posts of Readers in Commerce at the Department of Economics under the Second Five Year Plan and after these appointments got through, the entire M.Com Teaching was shifted from SRCC to the Department of Economics. In the same manner Delhi School of Economics was also given responsibilities for enrolling students of M.A. and M.Com, collecting their fees, issuing them identity cards, library cards, union membership, and other extra-curricular activities. Total number of M.Com enrolment was divided between the SRCC and DSE on 50:50 bases. Professor of Commerce and two Readers in Commerce along with teachers from various colleges and some other teachers of the Department of Economics were providing all lecture work for M.Com. The First Professor of Commerce, Professor M.C. Shukla retired in 1965-66 and then senior most Reader in Commerce, Professor A.B. Ghosh, was appointed Professor of Commerce in 1966. In 1967 separate Commerce Department was carved out from the Economics Department, and it functioned as part of the Faculty of Social Sciences till the creation of the present Faculty of Commerce and Business. Almost from the very beginning the Directorship of Delhi School of Economics rotated among its four heads of the departments which was later on changed to senior-most nonHead Professor. Professor R.S. Nigam had worked for three terms as Director in his capacity as Head of the Department/senior-most Professor in the Department of Commerce. Professor A.B. Ghosh worked as the Director of Delhi School of Economics before Professor R.S. Nigam and Prof. L.S. Porwal, Prof. P.K. Ghosh, Prof. B.M. Lall Nigam and Prof. Y.P. Singh worked as Director of Delhi School of Economics after him. (continued in the next edition.....)

Then HRD Minister Sh Arjun Singh at the Delhi School of Economics, inaugurating the Faculty of Commerce & Business (DU) on Oct 18, 1993 by cutting the ribbon, Seen in the picture founder president of Delhi University Commerce Teachers Association Dr J P Sharma (now Dean Faculty)

4

At the initiative of founder president of Delhi University Commerce Teachers Association, Dr J P Sharma (now Dean Faculty) then HRD Minister Sh Arjun Singh at the Delhi School of Economics, to inaugurate the Faculty of Commerce & Business (DU) on Oct 18, 1993


Role of Honour Over the years, seventeen professors from the department served on rolling basis as 'Head of the Department'. Prof. A. B. Ghosh was given the honour of being the first 'Head'.

Heads: Department of Commerce Period

Name of Head of Department

1967-1973

Prof. A.B.Ghosh

1973-1977

Prof. R.S. Nigam

1977-1979

Prof. L.S. Porwal

1979-1979

Prof. R.S. Nigam

1979-1982

Prof. B.M. Lall Nigam

1982-1983

Prof. P.K. Ghosh

1983-1986

Prof. R.S. Nigam

1986-1989

Prof. R.K. Lele

1989-1992

Prof. S. Kumar

1992-1994

Prof. M.Y. Khan

1994-1995

Prof. V.S. Minocha

1995-1996

Prof. B.P. Singh

1996-1999

Prof. R.N. Goyale

1999-2002

Prof. Y.P. Singh

2002-2005

Prof. Sri Ram Khanna

2005-2006

Prof. Jawahar Lal

2007-2009

Prof. Sanjay K. Jain

2010-2012

Prof. K. V. Bhanu Murthy

2013

Prof. J.P. Sharma

Esteemed audiences at the formation of Faculty of Commerce and Business Studies


5

Role of Honour Deans: Faculty of Commerce and Business Studies Deanship is offered on alternate basis to the Head of Commerce Department and Head of Department of Financial Studies. Since the formation of Faculty of Commerce and Business in the year 1993, fifteen Professors have served so far as Dean of Faculty of Commerce and Business Studies. Period

Name of the Deans on Rolling Basis

1993-1994 1994-1995 1995-1996 1996-1998 1998-1998 1998-1999 1999-1999 1999-2002 2002-2004 2004-2004 2004-2005 2005-2005 2005-2006 2007-2008 2008-2010 2010-2011 2011-2012 2013

Prof. M.Y. Khan Prof. V.S. Minocha Prof. B.P. Singh Prof. M.Y. Khan Prof. O.P. Gupta Prof. Shirin Rathore Prof. R.N. Goyale Prof. Y.P. Singh Prof. Muneesh Kumar Prof. Shirin Rathore Prof. Muneesh Kumar Prof. Sri Ram Khanna Prof. Jawahar Lal Prof. Sanjay K. Jain Prof. Sanjay Sehgal Prof.I.M. Pandey Prof. K.V. Bhanu Murthy Prof. J.P. Sharma

Sh. Arjun Singh after the ceremony interacting with Prof P B Sharma now Vice Chancellor, Dr. Kiran Walia now Minister in Smt Sheila Dixit Govt

6

Seen in the picture then vice chancellor DU prof Upendra Baxi, then chairman AICTE and former vice chairman UGC Prof S K Khanna, then member Lok sabha Sh J P Agarwal, and founder president of Delhi University Commerce Teachers Association Dr J P Sharma (now Dean Faculty)


Departmental

Activities

M.Com Annual Commerce Convention Department organized its 2nd Annual Commerce Convention on 3rdApril, 2013 at Sir Shankar Lal Auditorium of University of Delhi. This year the Convention theme was: “Emerging Issues in Corporate Governance”. A day-long event witnessed its participation from different sections including students, teachers, principals from various colleges of the University of Delhi, and many more.

Chief Guest, Former Economic Adviser to Govt of India and Ex Vice Chancellor Delhi University Prof. Deepak Nayyar lightening the lamp

Former Economic Adviser to Govt of India and Ex Vice Chancellor Delhi University Prof. Deepak Nayyar addressing the delegates and students at Second annual commerce convention

“Prof. Deepak Nayyar,” an Emeritus Professor of Economics at Jawaharlal Nehru University, New Delhi and Distinguished University Professor of Economics at the New School for Social Research, New York was the Chief Guest of the occasion and shared his views on the theme of the convention. Expert views on the theme were shared by the Head, Department of Commerce and Dean, Faculty of Commerce and B u s i n e s s , P r o f. J. P. Sharma. Prof. R.S. Nigam, former Head of Commerce Department and Director, DSE was the Guest of Honour at the occasion.

Prof. R.S. Nigam, Former Head and Director DSE, addressing the gathering


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Departmental

Activities

The session had nostalgic moments when the retired faculty of the department was honored by the Head & Dean, Prof. J. P. Sharma in recognition of their contribution to the growth and development of the department over a period of time. The inaugural session witnessed a major landmark in the history of the Department of Commerce with the launch of its first ever quarterly newsletter “Reflections” featuring the highlights of various activities of the department. The two Technical Sessions with the session themes 'Corporate Governance: Emerging Issues & Global Challenges' and 'Updation of India's Corporate Laws to the realities of 21st Century' were enriched with the information, facts and knowledge shared by the eminent speakers from industry, professional bodies like ICAI, IICA, and academia. The main aim of both the technical sessions was to enrich and enlighten the minds of academicians, research scholars and students toward fostering a culture for promoting good governance, facilitating effective participation of different stakeholders and validating India's Corporate Laws to the challenges of the 21st century.

Prof. J.P. Sharma, Head, Department of Commerce and Dean, Faculty of Commerce and Business sharing his expert views with the audience

Launch of the 'Reflections', Department's First quarterly newsletter A view of the audience during second annual commerce convention

The event was the initiative of students of M.Com under the able guidance of the faculty at Department of Commerce. In the valedictory session certificates of participation and appreciation were given away to all the students who had put in their best efforts to make this event a big success. Team of the M.Com student volunteers behind the successful event

8


Departmental

Activities

Four Year Undergraduate Program The process of formulating Four Year Degree Course was initiated at the Department of Commerce in the month of March this year. At the department level the committee comprised of Prof. J. P. Sharma (Chairperson), Dr. Kavita Sharma (Convener) and Dr. Sunaina Kanojia (CoConvener). The entire process was carried out on the pillars of democracy, having a participation of around 300 college teachers. Various preparations were done at the departmental level to smoothen out the entire process. The first meeting of all Commerce Teacher-in-Charges (TICs) was convened on 25th March, 2013. The purpose of the meeting was to invite suggestions, resolutions and proposals from different colleges. Out of 57 TICs, 39 attended the meeting. Various suggestions and proposals were given by the TICs, which wereduly recorded. A further meeting of Extended Courses Committee was convened on 9th April, 2013. The composition of this committee was as follows: a) b) c) d) e) f) g)

All the nine Members of Courses Committee from Colleges Twenty Teacher-In charges who participated in the meeting on 25th March, 2013 Seventeen Members of the Faculty of Commerce and Business Seven Principals (Commerce Background) Five Members of Task Force (Commerce Background) Four Elected Members of Academic Council (Commerce Background) Three Faculty Members from the Department of Commerce

Out of 63 members committee, 56 members attended the meeting. The proposals and suggestions given by TICs in the previous meeting were put forth and discussed. A Sub Committee of Courses Committee having proportionate representation from all seven categories of Extended Courses Committee was formed. Its meeting was convened on 12th April, 2013 to finalize the course titles for Discipline (DC) I, Discipline (DC) II and Applied Courses (AC).In the subsequent meeting convened on 13th April, 2013the titles for DCI, DCII and AC were finalized after considering the recommendations proposed by the TICs, members of Extended Courses Committee and Sub Committee of Courses Committee in the previous meetings. The members also decided that various working groups shall be formed to finalize the syllabus for various titles. Out of 17 members of the Sub Committee, 15 members attended the meeting. On 16thand 18thApril, 2013, seventeen workinggroups (each comprising of ten members having specialization in the respective titles) met for finalization of the course content.The Head of the Department convened a meeting of departmental colleagueson 20th April, 2013 to give a final touch to the courses before its placement in Committee of Courses. On 22nd April, 2013, a meeting of the Committee of Courses for the Under-Graduate Studies in Commerce (Excluding Hons.) and Committee of Courses for Under- Graduate Studies in Commerce (Hons, P.G., and Research) was held in the Room of HOD. The meeting was convened to consider the draft proposal of 4 year degree course. On 22nd April, 2013, a meeting of the Committee of Courses for the Under-Graduate Studies in Commerce (Excluding Hons.) and Committee of Courses and Studies for the Under- Graduate Studies in Commerce (Hons, P.G., and Research) was held in the Room of HOD.The meeting was convened to consider the draft proposal of 4 year degree course. On 25th April, 2013, a duly notified meeting of Faculty of Commerce and Business was convened to approve the course drafted by Department of Commerce.


9

Departmental

Activities

Meeting of 63 member extended courses committee held on 9th April,2013 to draft the syllabus under FYDP

13 member sub-committee meeting held on 12thApril,2013 to finalise the course titles for DC I, DC II and AC

Meeting of Faculty of commerce and Business in progress on 25thApril, 2013 to draft the syllabus under FYDP

10


Departmental

Activities

MIB and MHROD Counseling 1581 candidates applied for seeking admission in MIB and MHROD batch 2013-15, against total 146 seats (73 in each course). Out of the total applicants for the two courses, 515 were called for Group Discussion and Interview process. 369 candidates appeared for the Group Discussion and Interview process, and all of them were called for the first counseling held on 14th and 15th May, 2013 in Department of Commerce.

M.Com Entrance Test The entrance test for admission to the Masters of Commerce (M.Com) batch 2013-15 was held on 23rd June 2013. Total of 6047 applications were received as against 4270 applications received last year, having an approximate 42% increase over the previous year.

Counseling and Orientation for Various courses • M.Com Counseling was held in the Department of Commerce from 10th July to 13th July, 2013 to fill the sanctioned seats. • M.Phil Entrance: The combined entrance test for M.Phil and Ph.D. aspirants was held on 14th July, 2013. • Orientation Progarmme for MIB/MHROD and M.Com was held on 24thJuly, 2013 in the Department.

Ad-hoc Panel Applications for empanelment in the Ad-hoc panel for the post of Assistant Professors in Commerce department of various colleges of University of Delhi were invited in the month of April. Around 1550 applications were received. After extensive verification process, the draft Ad-hoc panel was uploaded on the Department and University website (www.commercedu.com and www.du.ac.in) on 20th June, 2013. The committee meeting to address the grievances/complaints of the applicants was convened on 24-07-2013. The committee meeting was attended by the following members: Prof. J.P. Sharma: Head of the Department Prof. Sanjay K. Jain Prof. K.V. Bhanu Murthy Dr. Ajay Kr. Singh Dr. Niti Bhasin Ms. Abha Shukla Dr. Sunaina Kanojia The list of Ad-hoc panel facilitates the interview process of Assistant Professors (ad-hoc basis) in commerce department of various colleges.

Post- Graduate Examinations Second and fourth Semester post graduate examinations for the courses Masters of Commerce (M.Com), Masters of International Business (MIB) and Masters of Human Resource and Organizational Development (MHROD) were successfully held in the Department of Commerce from 3rd May, 2013 to 28th May, 2013.The result of the same has been declared in the month of August.


11

Departmental

Activities

Ph.D. Register A list of Ph.D. Scholars enrolled in the Department of Commerce, University of Delhi was compiled from the various available records and uploaded on the Department website in the month of May, 2013. It contains scholar's details such as: University Enrolment no., Name, Contact details, Date of Birth, Date of Registration, Research title, Supervisor name and Remarks. Research Scholars can verify their details from the website and in case of any discrepancy, one may contact Ms. Rashmi in the exam branch of the Department or at her email id: [email protected]

A brief summary of Number of Ph.D. registrations from 1967 till date Period of registration

No. of Candidates registered

1967-1970 1971-1980 1981-1990 1991-2000 2001-June 2013

9 116 126 103 169

M.Phil Register: A list of M.Phil students enrolled in the Department of Commerce, University of Delhi has been compiled in the soft copy from the records available and also uploaded on Department website.

A brief summary of Number of M.Phil registrations from 1979 till date Period of registration

No. of Candidates registered*

1979-80 1981-1990 1991-2000 2001-2010 2011-till date

04 21 80 179 67 (*approximate figures)

Seniority List A seniority list of Commerce teachers teaching across 57 colleges of University of Delhi was compiled for the year 2012-13. The list comprises of 1144 teachers teaching commerce subjects for the three courses, viz., B.Com (H), B.Com (Prog) and B.A. (Prog). 245 teachers are working as ad-hoc and guest faculty. The seniority list for 2013-14 is in the process of preparation.

12


Departmental

Activities

M.Com Placements In-campus placements of M.Com students have gone up as compared to the last year. Total five companies visited the campus and after the process, 28 students were placed this year. Company

Profile offered

Number of Students Placed

Deloitte

Audit Analyst

17

Samsung

Assistant Manager

1

Accenture

Management Interns

2

Transweb

Associate Consultant

2

Indian Institute of Finance

Research Assistant/Management Trainee

6

Lecture by Dr. Sunil K. Mohanty, St. Tomas University, USA Dr. Sunil K. Mohanty, Professor of Finance, University of St. Thomas, USA visited the Department of Commerce on 30th July, 2013 at 2.30 p.m. for a lecture in finance area. Dr. Mohanty delivered a lecture on his research paper titled, “Capital Budgeting Practices: A survey of Central and Eastern European Firms”, in the seminar room of the Department. The Lecture was followed by an interaction round with the scholars of the Department of Commerce. The intellectual discourse that was showcased during the lecture by Dr. Mohanty was immensely applauded by the research scholars of the department.

Dr. Sunil K. Mohanty from USA addressing the research scholars of the Department of Commerce

Superannuation of Section Officer Department organized a small get together function in the room of Head of the Department, on the occasion of superannuation of Section Officer Ms. Vineeta Chhabra. Head acknowledged the sincere efforts of the Section Officer in the office. All faculty members and office staff attended the same.


13

Departmental

Activities

Students and Faculty members during CRISIL Presentation

CRISIL Research A presentation on CRISIL Research database was organized in the Department on 17th May, 2013. Experts from the CRISIL Research organization explained about economy, industry, and company wise statistical data, reports, charts, and articles that can be assessed from the CRISIL Research database. Research scholars and faculty members from the department attended the presentation, which was followed by an interaction session.

Ph.D. Interviews For Direct Ph.D., a total of 70 applications were received by the Department in the first round of admissions for the year 2013. On the basis of blind review of the synopsis submitted by the applicants, 21 candidates were shortlisted for interview, of which 19 candidates finally appeared before the interview board. Candidates were interviewed by the Departmental Research Committee on 22nd May 2013.

List of candidates selected for admission to Direct Ph.D

14

S.No.

Name of the Candidate

Title of Synopsis

Supervisor

1

Ms. Pooja Sharma

“Impact of Shareholder Activism In Improving Corporate Governance- A Study”

Prof. J. P. Sharma

2

Mr. Samir Lama

“The Consequences of Foreign Direct Investment in Multi- Brand Retail in Unorganised Sector: A Study in Indian Context”

Dr. Niti Bhasin & Dr. C. S. Sharma

3

Ms. Geetanjali Batra

"Integrating Stakeholders Expectations In Corporate Reporting Framework: An Empirical Investigation"

Prof. S. K. Jain & Dr. Ritesh Kr. Singh

4

Ms. Shikha Sachdeva

"Role of Whistleblower in Prevention or Detection of Corporate FraudsA Study"

Prof. J. P. Sharma & Dr. Sunaina Kanojia

5

Ms. Rinku Bhagat

"Impact of Regional Trade Agreements on Trade & Investment: A Study of Select South, East, and South-East Asian Economies”

Dr. Niti Bhasin & Dr. Rajni Jagota

6

Ms. Sonia Kamboj

"Capital Account Convertibility and Growth- A Study of Select Emerging Economies"

Prof. S. K. Jain & Dr. Sumati Verma

7

Ms. Neha Arora

"Investment Strategies in the Bull and Bear Market: A Study of Indian Investors"

Dr. Sunaina Kanojia


Departmental

Activities

Approvals for Infrastructural Changes • Department has been given required permission from the University to have its own library for keeping dissertations/thesis submitted by the students of Ph.D., M.Phil, MIB and M.H.R.O.D. This initiative will benefit a large number of students with an easy access to research output of a large number of students. • Quotations for the installation of CCTV cameras at appropriate locations in the Department were invited. University approved the same inviewoflotof secrecy work undertaken at the department level. Five CCTV cameras have now been installed in Examination room, Office of the Department, at the Entrance, corridor and on the stairs. • After a long wait department has been given requisite permission for the construction of six toilets in the Department. • Examination room has been renovated with the change in its flooring and installation of iron gates.

Co-ordinators and Convenors The faculty members were designated as area coordinators/conveners w.e.f. 23rd May, 2013 •

Dr. Sunaina Kanojia– Coordinator M.Com, MHROD, and M.Phil

•

Dr. Kavita Sharma –Coordinator MIB

•

Dr. Ajay Kumar Singh - M.Phil Coordinator, Accounting Area

•

Dr. Sunaina Kanojia, OBD Area

•

Prof. Sanjay Jain –M.Phil Coordinator, Marketing Area

•

Prof. K.V. Bhanu Murthy – M.Phil Coordinator, Research Methodology and Finance area

•

Dr. Niti Bhasin –M.Phil Coordinator, International Business Area

•

Dr. Kavita Sharma - DRC Convener

•

Ms. Abha Shukla- Admission Coordinator (M.Com)

•

Dr. Niti Bhasin - Admission Coordinator (MIB and MHROD)

•

Dr. Kavita Sharma - PG and UG Examination Convener

New Appointments Following new appointments have been made in the Department: Dr. Gurcharan Sachdeva: Ad-hoc Faculty Ms. Minny Narang: Ad-hoc Faculty Mr. Chetan: Ad-hoc Faculty Mr. Virender Rawat: Section Officer Mr. Deepanshu Sharma: Computer Lab Assistant


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Students’

Activities

Atharva'13 (MIB Management Fest) Master of International Business, Department of Commerce, Delhi School of Economics organized three-day Inter college management festival Atahrva'13, consisting management events, Guest lectures and Panel Discussions during 21st-23rd March, 2013. The management events included Business Quiz, Case Studies, Equity wars, Business plan and Model WTO along with few informal events. Students from various colleges participated with lot of enthusiasm and exhibited team spirit. The colleges that participated in Atharva'13 were IIFT Delhi & Kolkata, DMS IIT Delhi, IIT Kharagpur, IMI Delhi, IMT Ghaziabad, MFC Department of Finance Studies, Sri Ram college of Commerce, Hyderabad Business School etc. The department also organized a panel discussion on 'Education and Society'. The panelists were from academic as well as corporate background. Ms.MahimaKhanna (3rd Indian to have received the Stevenson Prize) gave a lecture on Indian Budget 2013 and its implication on Indian Economy. The main attraction was “MODEL WTO” in which the winner Ms.TarunimaMago won a sponsored trip to Geneva to attend MODEL WTO. The students won several prizes. The participants were wholeheartedly congratulated and the winners were awarded for keeping the college spirits and hoped they would continue in future too at higher levels. MIB students participating in Business Games during MIB Management Fest 'Atharva'

Team of MIB student Volunteers of 'Atharva'

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Students’

Activities

Conflux' 13 (HR Fest) The Student Development Cell (SDC) of Master of Human Resource and Organization Development organized the HR Fest Conflux for the first time in February 2013, and was a grand success. The fest entailed niche events like 'Across the Table' in which the judges negotiated with the students and put them under extreme pressure which came out to be called the 'Star Event' by students and judges alike. Other events included 'Speak Your Heart Out' (extempore), 'Deal with It' (Dealing with extreme employee issues), 'Launch Pad (BPlan)', 'Act upon It (Employer Branding)', 'Quizzitch'. The events were hosted by people with high corporate experience, and the team gave special thanks to Mr.Subodh Mullick for contributing so much for the cause. Overall the event saw a large participation from the colleges across the country and prizes worth Rs 40,000 were Students and Judges negotiating during 'Conflux' (HR Fest) won!

Election of Student Bodies MIB Course: Election for the next set of office bearers of MIB for the academic year 2013-2014 was held on 16th April, 2013 through Closed Ballot process. The three posts were The President, The General Secretary and The Treasurer. Eligibility Criteria for the nomination was: • •

The students nominating must have a minimum aggregate of 60% in semester 1. Also, the aggregate attendance of both the semesters must be over 60%.

Terms & Conditions: • • •

•

A student can nominate for 1 post only The new convener to be jointly decided by the existing team members of the junior batch and the existing conveners. The newly elected office bearers (after winning the election) will resign and vacate all positions from all cells and committees including Discipline Committee and the post of CR. Counting of Votes will be on-spot during the GBM and the declaration of result will take place on the same day.


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Students’ •

•

Activities

In Case of a tie for any of the posts (President, GS or the Treasurer), the existing office bearers will cast their votes. Since they will have 3 votes among them, this will act as a tie breaker. The counting of votes will be done in presence of the contestants

MIB Election: For the next set of office bearers elections were held on 16th April, 2013 through the Closed Ballot process. The three posts of office bearers were The President, The General Secretary and The Treasurer Selection Procedure: Former General Secretary conducts the whole process (Mr. Zorawar Singh Bawa was holding post of General Secretory for 2011-13 batch) Step1 – Nominations for the post Step 2 - Speech by the candidate on 'Why Me' Step 3 - Queries from the batch Step 4 - Final voting Step 5 - Result Declaration Step 6 - Result submission to Course-coordinator For the post of the President, there were two nominations viz. Mr. Vikas Rawat and Mr. Sathish Babu E For the post of e General Secretory, there were two nominations viz. Mr. Manish Agrawal and Mr. Nitin Shivani For the post of the Treasurer, there was only one nomination from Mr. Sumit Kumar Office bearers: President General Secretary Treasurer

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Vikas Rawat Manish Agarwal Sumit Kumar

Committees

Committee Convener

Number of Members (Excluding Convener)

PlaceCom Committee IISAC Committee Discipline Committee Marketing Cell Media Cell Alumni Committee Convention Committee Finance Cell IB Cell Quiz Cell Literary & Debating Cell

Rohit Katiyar Ashish Gupta Manvinder Singh Ashita Sharma Disha Khanna Garima Agarwal Abhishek Taparia Priyanka Singla Mansi Gupta Nikhil Bhatia Anna Jain

5 6 3 5 6 7 7 7 3 4 3


Students’

Activities

MHROD Course Election of Student Bodies in MHROD: Election for the next set of office bearers of MHROD for the academic year 2013-2014 was held on 22 August 2013 through Closed Ballot process. The two posts under consideration were The President and The Treasurer. Eligibility Criteria for the nomination was: • •

The students nominating must have a minimum aggregate of 75% in semester 1. Also, the aggregate attendance of both the semesters must be over 75%.

Terms & Conditions: • • • • • •

1 student can nominate for 1 post only. Counting of Votes was on-spot during the GBM and the declaration of result took place on the same day. In Case of a tie for any of the posts (President or the Treasurer), the existing office bearers will cast their votes and this will act as a tie breaker. The counting of votes will be done in presence of the contestants. The newly elected office bearers (after winning the election) will resign and vacate all positions from all cells and committees including Discipline Committee and the post of CR. The new conveners are also to be selected for the committees which the new office bearers have vacated and are to be jointly decided by the existing team members of the junior batch and the existing conveners.

MHROD Selection Procedure: Former President conducts the whole process Step 1 – Nominations for the post along with submission of a Statement of Purpose (SOP) Step 2 - Speech by the candidate on 'Why Me' on the day of elections Step 3 - Addressing queries from the batch Step 4 - Final voting Step 5 - Result Declaration Step 6 - Result submission to the Course- Coordinator For the post of President, Ms. Niti Lawas was selected. For the post of Treasurer, Ms. Heena Narang was selected. Committees

Committee Convener

Number of Members (Excluding Convener)

Academics Committee C.R.T.(Corporate Relations Team) Discipline Committee Library Committee Media and People Relation Team Alumni Committee Team Convention Team E.S.A.C.(Entertainment Sports and Cultural Activities) Team S.D.C.(Student Development Cell)

Varun Chouhan Indranil Majumder Kanika Pandey Abhishek Kumar Kartik Pant Avanee Kapoor Richa Sharma Sahil Saini

2 5 4 3 5 6 6 4

Satvik Sharma

5


19

Adieu to Batch 2011-2013 M.Com The junior batch of M.Com organized a get together on 20th April, 2013to bid adieu and wishing success to their seniors. Prof. J. P. Sharma, Head and Dean, along with other faculty members initiated the day's proceedings by lighting a lamp. He extended his best wishes to the students for their future, closely followed by M.Com Course Coordinator Ms. Sunaina Kanojia's best wishes. The endearing faculty, much to the delight of the students, recalled all the nostalgic memories that have been created in the diaries of the students' hearts, experiences and days that have been made with united efforts of the students. Succeeding the reminiscent recital was the most awaited contest of choosing a few besotted titles like- best smile, best dressed, best personality, Mr. & Ms. Sophisticated, most popular, and so on. Interspersing the programme with tidbits of entertainment were various hilarious and artistic encounters by the amateur juniors. The day ended with a riveting congregation of dancing.

Students having fun during M.Com farewell

Faculty members felicitating winners during the M.Com farewell

MIB The farewell for the MIB Batch 2013 took place at DSE campus on 18th April, 2013, and was attended by the students and teachers cheering for the outgoing batch. The theme was, “STARSTRUCK (blue & silver)”. The junior batch gave a series of short performances and a special video was prepared by the IISAC team commemorating the 2 year journey of their senior batch. The juniors cheered for their seniors and presented each of them with a special title and a customized T-Shirt, with the names of the entire batch printed backwards. The ceremony began with the cutting of cake by the course coordinator, Dr. Kavita Sharma. “In all of these long years of education and experience, we've gained many additions to our band of students as well as endured the loss of a few classmates, some of whom we've

20


Adieu to Batch 2011-2013 viewed as brothers and sisters,” “We've all felt what it's like to bond, to come together with a select group of friends...but recently, I've discovered that in all the years of growing up together, we all made a kind of family, a family consisting of relationships we once shared and relationships we still have today.” These were certain emotions that the outgoing batch expressed as words

Mr. Popular and Ms. Popular selected on the basis of their performance during the MIB farewell

.

MHROD Band, Baaja, Baraat! These are the words that get every foot tapping, all ladies smile and all the men enjoying the moments. With this as a themed agenda on board, the junior batch of MHROD-14 put forward a farewell event that was about to get all the seniors to dance on the 'band' and 'baaja' beats, along with the 'baraat' parting them away with a farewell. The event started off with reviving the traditional tilak ceremony to welcome the seniors. The event also welcomed Dr. A. K. Singh (MHROD coordinator), and other faculty members. The farewell started off with a basic introduction, and cake- cutting ceremony. A series of performances were presented by the junior batch, which included song performances, a well plotted drama, a committee based dance with songs dedicated to each of the committees and one song for the entire senior batch. An award giving ceremony was also arranged with personality based tags to be given to each senior. Then, the seniors presented “Na-Real Awards” along with the souvenirs consisting of quotes from their own batch mates. This was played on with a background of pictures of their batch mates and their times together. The event concluded with a trip down the memory lane with a video composed for the senior batch and with a chain of pictures that left every one reminiscing and some even shedding tears of departure.

Faculty members and students present during MHROD farewell


21

Research Output Ph.D Under the able guidance of department faculty, five research scholars made thepresubmission of their research work for the award of Ph.D degree. Researches were taken up in Marketing, Finance and Economics area. All the pre-submissions were well attended and followed by the discussions related to research topic presented by the research scholar.

Research Work Submitted during April- June, 2013 for the award of Ph.D. Degree

22

S. No.

Name

Title

Supervisor

Date of PreSubmission Seminar/ Viva-Voce

No. of Research Scholars/ Faculty/ Students Present

1.

Ms. Sonali Jain

“Assessment of Service Quality in Indian Banking Sector: A Comparison of Indian and Foreign Banks”

Prof. Jawahar Lal

Viva-Voce held on 13th May, 2013

32

2..

Ms.Rachna Jain

“An Empirical Study of International Listing of Stocks by Indian Companies”

Prof. Jawahar Lal and Dr. Vanita Tripathi

PreSubmission held on 6th May, 2013

36

3.

Ms. Anuja Mathur “Market Orientation Its antecedents and consequences: A Study of Business Firms”

Prof. S. K. Jain

PreSubmission held on 6th June, 2013

27

4.

Ms. Abha Shukla

“Banking Regulations and Stability: The Indian Experience”

Prof. S. R. Khanna & Prof. I. M. Pandey

Pre Submission held on 7th June, 2013

54

5.

Ms. Nisha Arora

“Examining the Ricardian Equivalence Proposition with respect to India”


PreSubmission held on 11th June, 2013

61


Research Output M.Phil In the area of Accounting, Finance, Corporate Governance, International Business and Marketing, thirteen scholars submitted their Dissertation for the award of M.Phil Degree. Nine scholars have been awarded degree vide notification no. M.Phil/Result/201213/18/5261

Award of M.Phil Degree (April-June 2013)

S. No.

Name

Title

Supervisor

Date of Viva-Voce/PreSubmission

1.

Ms. Anjali Tuli

“Qualified Institutional Placement of Equity in India: Informational Effect and Firms, Choice of Seasonal Equity”

Ms. Abha Shukla

Awarded

2.

Ms. Vartika Khandelwal

“Foreign Institutional Investment in India: Trends & Determinants”

Dr.Niti Bhasin

Awarded

3.

Ms. Chitra Rajoura

“Foreign Exchange Reserves: Trends and Determinants”


Awarded

4.

Ms. Namita Narang

“Trends and Determinants of Financial Crisis: A Study of European Economies”

Prof. Y. P. Singh

Awarded

5.

Ms. Neha Gupta

“Determinants of Non-Performing Assets in Indian banking System”

Prof. Y. P. Singh

Awarded

6.

Mr. Samir Lama

“A Study on the Impact of IFRS Convergence in the Indian Perspective”

Prof. Jawahar Lal

Awarded

7.

Ms. Swati Khanna

“Corporate Social Responsibility, Corporate Governance and Sustainability; Synergies and Inter-relationship”

Prof. J. P. Sharma Awarded

8.

Ms. Monica Soin

“Business Ethics and Corporate Governance-Synergies and Interrelationship”

Prof. J. P. Sharma Awarded

9.

Ms. Ritika Seth

“Stock Market Performance And Macro Economic Factors: The Indian Experience”

Dr. Vanita Tripathi Awarded

10.

Ms. Asha Rani

“Investment by FIIs and Stock Market Return: An Empirical Analysis”

Dr. Sunaina Kanojia

30-05-2013

11.

Mr. Vishal Pandey

“Business Ethics and Corporate Responsibility: A comparative study of Multinational Companies and Domestic Firms in India”

Prof. K.V. Bhanu Murthy

14-05-2013

12.

Ms. Shweta

“Impact of job involvement and organizational commitment on organizational citizenship behavior and in role job behavior”

Dr. A. K. Singh

13-05-2013

13.

Ms. Rimmi Jain

“Customer Evaluation of Technology based self-service option in Indian Context”

Dr. Kavita Sharma 12-07-2013


23

I nitiatives Revival of Department Journal The Department of Commerce has revived its journal and it was titled 'Journal of Commerce and Business Studies.' The journal has been allocated the ISSN number 2322-0767. The editorial board of the Journal comprises of: Prof. J.P. Sharma (Editor-in-chief); Dr. Kavita Sharma (Editor); Dr. Sunaina Kanojia (Associate Editor); Members of the Editorial Advisory Board are: 1. Prof. A.D. Amar, Professor of Management, Stillman School of Business,USA 2. Dr. Bhaskar Chatterjee, DG & CEO, The Indian Institute of Corporate Affairs, Govt. of India, New Delhi 3. Prof. R.K. Mishra, Director, Institute of Public Enterprise, Hyderabad 4. Mr. Nesar Ahmad, Immediate Past President, ICSI, New Delhi 5. Dr. J.D. Agarwal, Editor-in-Chief, Finance India, Chairman & Professor of Finance, Indian Institute of Finance 6. Prof. Rattan Sharma, Ph.D Formerly in IIM Lucknow, MDI Gurgaon, and S P Jain Centre, Mumbai

Call for papers Department of Commerce formally set up as a separate entity in 1967, has imbibed the Delhi School of Economics tradition of exploring new frontiers of knowledge and innovation in academics. In its history spanning over three decades, it has redefined commerce education in the country and its rapid growth is reflected in the expansion as well as novelty of its academic programmes. To extend further the dissemination of knowledge, department wishes to publish its bi-annual journal titled Journal of Commerce and Business Studies. Journal of Commerce and Business Studies - a peer reviewed journal – will address a wide range of research areas related to Management, Commerce, Economics, Business, Retailing, Finance, Marketing, Human Resource, Banking, Insurance, Corporate Governance and emerging paradigms as allied areas of knowledge. Academicians, professionals and researchers in all parentheses related to commerce and business are, therefore, invited to submit their research articles and reviews, validations and the impact of new emerging issues on business, and case studies for publication in the journal. For publications, the papers will be selected through double peer review process to ensure their originality, relevance, and credibility. Journal has its ISSN number 2322-0767, and is published biannually.

24


I nitiatives Guidelines for Authors Journal of Commerce and Business Studies (ISSN 2322-0767) is a peer reviewed bi-annual journal. The original unpublished manuscripts are welcomed for submission by both academicians and practitioners in the field of business and management. The author should send the soft copy of the manuscript typed in MS Word at [email protected] The manuscript should be accompanied by: (i) (ii) (iii) (iv)

Cover page containing title of the paper, author's name, designation, official address, contact address, phone/ fax numbers and e-mail address. A non-mathematical abstract of about 150 words An executive summary not exceeding 500 words Four to five keywords

The recommended length of the article is 15 to 20 typed pages including figures and tables typed with 12-point font on “8.5 x 11” (A-4) size papers with 1.5 inch margin on all four sides. References should be placed at the end of the manuscript. The list should mention only those sources cited in the text of the manuscript. Authors are requested to follow APA (6thed.) style developed by American Psychological Association. For more information in this regard author is requested to refer American Psychological Association.(2009). Publication manual of the American Psychological Association (6th ed.). Washington, DC: Author. American Psychological Association. (2007). APA style guide to electronic references (PDF). Washington, DC: Author. Available from www.apa.org/books/ The in-text references should include the author's name, and year of publication: 'Chapman (1983) has argued... Many questioned the equality of working Japanese women (Sano, 1983). Where an author has more than one publication in the same year, use alphabetical ordering to distinguish: '… for example, (Dabscheck, 1986b) The reference list should be arranged in alphabetical order by the first author. The full reference in the reference list will be: (i)

For books: Fait, R.C., (1984). Specification, Estimation and Analysis of Macro Economic Models, Harvard University Press, Cambridge.

(ii)

For articles within books: Mehra, Y.P. (1994). Wage Growth and the Inflation Process: An empirical Approach. In B.B. Rao (Ed.) Cointegration for the Applied Economist ( pp. 147-159). Basingstoke: Macmillan Press.

(iii)

For articles in journals: Verhoef, P. (2003). Understanding the effect of customer relationship management efforts on customer retention and customer share development. Journal of Marketing. (October), Vol.67, 30-45.


25

I nitiatives (iv)

Journal Article with DOI: Paivio, A. (1975). Perceptual comparisons through the mind's eye. Memory & Cognition, 3, 635-647. doi:10.1037/0278-6133.24.2.225

(v)

Journal Article without DOI (when DOI is not available): Becker, L. J., & Seligman, C. (1981). Welcome to the energy crisis. Journal of Social Issues, 37(2), 1-7.

(vi)

Hamfi, A. G. (1981). The funny nature of dogs. E-journal of Applied Psychology, 2(2), 38-48. Retrieved from http://ojs.lib.swin.edu.au/index.php/fdo

(vii)

All tables, graphs, equations should be in black and not in colour. Wherever necessary, the source should be indicated at the bottom. All figures should be indicated in millions and billions. All tables and figures to be numbered: Table 1, Fig.1

Please refer to the resources indicated above for information on how to cite other kinds of sources like, websites, unpublished material etc. Introduction section must have no heading. Subsequent headings to be set in 'bold' letters and shall not be lettered or numbered. Quotations of four lines or more should be indented and types in single space. Shorter quotations should be included in the body of the text. Mathematical notations should be clearly typed. Check the layout of mathematical expressions especially alignment, centering, length of fraction lines and type, position and closure of brackets. Footnotes, which should be kept to a minimum, and should be numbered serially and included at the end of the article in double spaced typing. Tables must be numbered consequently and typed on separate page with font size 10 and 1.5 inch line spacing, following the reference section. Mark the table location within the text. Authors are responsible for making sure that they have not duplicated an article already published or accepted. Authors should certify on the cover page of the manuscript that the material is not published, copyrighted, accepted or under review elsewhere. Authors using questionnaires should include a copy of the questionnaire along with the manuscript. Authors can also send names of up to five potential references on a separate sheet. Please mention their area of expertise, designation and full mailing address. The suggested referees should not have been students or teachers of the author at any time. They should also not be co-authors on any work, Proofs may be sent to the authors, if necessary, for correction. They should be carefully scrutinized and sent within two weeks after highlighting the changes incorporated in the text. When a paper is accepted for publication author must submit a hard copy and soft copy of the final version. Responsibility for the content of articles and communications, also for possible infringements of copyrights, remains entirely with the author(s) concerned. Upon acceptance of a paper, the author(s) will have transferred the copyright of the article to the 'The Journal of Commerce and Business Studies', Department of Commerce, University of Delhi. The manuscript finally accepted for publication should be sent to 'The Editor, Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007, India'.

26


I nitiatives A copy of the journal will be sent free of cost to each author, with 5 reprints of their papers. Book review policy: While recent publications will attract detailed reviews, those published prior to two years of the present issue will be briefly reviewed or cited under 'Books Received'. The decision to review the books in detail or publish a brief review vests with the Editorial Board. If the books are not to topical interest, they will just be mentioned in the Books Received section, irrespective of the year of publication. Copyright of all accepted papers will vest with the Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007, India. Permission to make digital/ hard copy of published work is granted without fee for personal or classroom use, otherwise a special permission is required to be obtained from the department.

Syllabus Revision of PG courses and M.Phil. The Department has initiated the process of syllabus revision of its Post-graduate courses [Masters of Commerce (M.Com), Masters of International Business (MIB) and Masters of Human Resources and Organizational Development (MHROD)] and M.Phil.

DU M.Com ALUMNI Association Delhi University M.Com Alumni Association is in the process of registration under the Registration of Societies Act of 1960. 1.

Aims and Objectives:- The aims and objectives for which Society is established shall be as under: • To establish and maintain contact amongst ex-students and teachers (both present and past) of the M.Com, Department of Commerce, University of Delhi, Delhi. • To foster a feeling of brotherhood and friendship between the old students and faculty and to promote the spirit of mutual helpfulness amongst them. • To suggest, secure and promote the interests of the Department, in all possible ways. • To initiate and/or cooperate in any such enterprise pertaining to the promotion of the best interest of the Department. • To take all such steps as may be necessary for the fulfillment of the aims and objects laid down herein above. • To assist, needy members and the dependents of deceased members through a benevolent fund, contributed by the members and others.


27

I nitiatives 2.

Authorities of Alumni Association: - Under the General Body of the Association there shall be an Executive Committee consisting of a President, not more than two VicePresidents, a Secretary, a Joint Secretary, a Treasurer, other elected members not exceeding fifteen and the founding members of the Alumni Association.

3.

Membership: - The membership of the Alumni Association shall be open to all the pass outs from the M.Com, Department of Commerce, and University of Delhi.

4.

Subscription: • Life–membership: The fee for Life-membershipshall be Rupees fifteen hundred only payable at the time of admission. • Associate membership: The fee for Associate membership shall be Rupees five hundred only which is for three consecutive years.

There may be fee revisions as and when required and decided by the Executive Committee. All interested alumni can register themselves as a member of Delhi University M.Com Alumni Association by filling the alumni form and depositing the requisite fee at the office of the Department of Commerce, Delhi School of Economics. The form can also be downloaded from the Department's website (www.commercedu.com).

Presentation by Crisil.

28


Forthcoming

Events

•

Interviews for direct admission as well as through entrance test to Ph.D. course will take place in September, 2013. This will be on the basis of Ph.D. proposals submitted by the candidates.

•

Erudition 2013 MIB-MHROD Annual Convention to be held on th th September 27 and 28 at the Hotel Double Tree (managed by Hilton), Mayur Vihar, New Delhi.

•

The Alumni meet for M.Com, MIB and MHROD shall be organized in the month of October.

•

Student Exchange Programs will be initiated.

•

Quarterly seminars will be held in the department catering to various functional areas.

•

Seminar by renowned cardiologist Prof. Raman Puri on “How to Prevent Heart Attack” will be organized in the Department on August st 31 , 2013.

•

MIB III Semester students visiting Jawahar Port, Mumbai during autumn break

•

MIB students will organize A K Seth Memorial Debate

•

Guest lectures by corporates

•

Setting up of Departmental Library

•

Conduct of House Examination


29

F aculty Corner Prof. J. P. Sharma: Invited by the Geetanjali Institute of Tech Studies, Udaipur, March 16, 2013-audience included faculty, Research Scholars, professionals, officials from Chamber of Commerce, Chairman, Geetanjali Group of Educational Institutions, Mr. J.P. Agarwal, Vice Chancellor of Geetanjali University Dr RK Nahar, Director GITS Group Mr. BL Khamesra, Head of FMS ML Sukhadia Univ., Prof PK Jain, President UCCI Mr. M K Taya, and over a dozen Media peopleand around 400 eminent people from Industry, academics and professionals attended the lecture

Prof. J.P. Sharma delivering a lecture on 'Effective Corporate Governance' at Geetanjali Institute of Technical Studies,Udaipur, March 16,2013

30

A view of the audience participating in the special lecture by Prof. J.P. Sharma at Geetanjali Institute of Technical Studies, Udaipur


F aculty Corner Books Published “Corporate Governance, Business Ethics and CSR for B.Com in the Semester Mode”, Ane Books Pvt Ltd, New Delhi (1st Edition) ISBN 9789382127758, July 2013. “An Easy Approach to Business Laws under Four Year Course”, Ane Books Pvt Ltd, New Delhi, Joint Author, ISBN 9789382127734, July 2013.

Conference/talk •

Key speaker at a seminar organized by the research scholars of the Department of Commerce, and delegates from Stillman School of Business, Seton Hall University, USA at Delhi School of Economics, DU, March 08, 2013.

•

Main Speaker in the Panel Discussion organized by the India Policy Foundation, at Constitutional Club, New Delhi on “Corporate Scams”, Participants in the discussion include Mr. Paranjoy Guha Thakurta, and over 200 intellectuals, March 02, 2013.

Invited/Special Lecture delivered : 1) Delhi College of Arts and Commerce, University of Delhi, “Companies Bill, 2012”. April 05, 2013-Participants over 100 under graduates, and the teachers. 2) Dayal Singh College (Delhi University), “Current Issues In The Corporate Sector”, March 07, 2013. Participants over 100 under graduates, teachers and the principal. 3) Rajdhani College, University of Delhi, “Issues in Corporate Sector”, March 06, 2013Participants over 200 under graduates, teachers and the principal. 4) Sri Guru Gobind Singh College of Commerce, University of Delhi, “Companies Bill, 2012”. March 04, 2013 5) PGDAV College, University of Delhi, “Highlights of Companies Bill 2012”, March 01, 2013Participants over 200 under graduates, teachers and the principal.

Prof. K.V. Bhanu Murthy •

Bhanu Murthy K V and Phool Chand (2013) “Growth and Instability in India`s Current Account Balance: A Policy Period Analysis”, Conference Papers, World Finance Conference, Cyprus.

•

Bhanu Murthy K V, Vanita Tripathi and Joao Vieito (2013) “Financial Crisis and Contagion in Stock Markets: Evidence from G-20 Countries”, Conference Papers, World Finance Conference, Cyprus.

Dr. A. K. Singh Publications 1. Singh, Ajay Kr. and Jain, Sonal (2013) Employer Branding: A tool for motivating and retaining employees, Indian Journal of Current Trends in Management Sciences, April, Vol. VI, No. 1, pp. 1-14. Published as a Lead Article. This paper got the best paper award in a conference.


31

F aculty Corner 2. Singh, Ajay Kumar and Kumar, Vibhash (2013) Spirituality and Leadership, published in Proceedings of National Conference on Transformational Leadership and Beyond, ed. Sharma, C. S. and Singh, R. K. (2013) Excel India Publishers, New Delhi, pp. 14-27. ISBN – 978-93-82880-26-4. 3. Singh, A. K. (2013) Indigo and Kingfisher Airlines: A Case Study, Delhi Business Review: An International Journal of SHTR, v14, n1. p. 123-125. 4. Singh, A. K. and Popli, G. S. (2013) Unraveling Mysteries of Life: Modern Science and Ancient Wisdom, by Gauri Shankar Gupta, Star Publications Pvt. Ltd., New Delhi, 2012 Delhi Business Review, Vol. 14, No. 1, pp. 127-128. 5. Singh A.K. (2013) Editorial Review, Delhi Business Review: An International Journal of SHTR, Vol.14, No.1 Papers Presented in International Conferences and are under publication 6. Singh, A. K. (2013) Transitioning of Global Economy: Vision 2050, presented in the XIV Annual International Conference at Almada, Lisbon, Portugal, on June 21 to 22, 2013. Received the Best Paper Award in the technical session 7. Singh, A. K. (2013) Sustainable Development and Business: Vision 2050, presented in the International Conference on Business Management Practices at Slovak University of Agriculture at Nitra on June 6 to 7, 2013. 8. Singh, A. K. (2013) Regional Development and Innovation practices and policies in India, presented in the International Conference at Firat University, Elazig, Turkey on May 16 to 17, 2013. Professional/Academic Distinctions 9. Excellent Cooperation Partner of University of Szeged conferred by the Dean Faculty of Engineering on May 30, 2013 at University of Szeged, Szeged, Hungary. 10. Chaired a technical session in the International Conference on Business Management Practices at Slovak University of Agriculture at Nitra, Slovakia on June 6 to 7, 2013. 11. Delivered Key Note address in a session in the International Conference on May 16 – 17, 2013 at FiratUnivesity, Elazig, Turkey.

Dr. Ajay Kr Singh receiving the award from DG

32 Quarterly Newsletter

F aculty Corner International Programmes Attended 12. Attended Spiritual Retreat on “World Philosophy and Religion” from May 18 to 26, 2013 at Greece with Master Del Pe as the Principal Trainer. 13. Attended the Rotary International Convention from June 23 to 26, 2013 at Lisbon, Portugal. National Programme Attended 14. Participated in the 2nd Annual Commerce Convention held on April 3, 2013 on “Emerging Issues in Corporate Governance” organised by Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007.

Dr. Kavita Sharma 1. Participated in Second Biennial Sheth Emerging Scholars Faculty Consortium held on July 16, 2013 at Monash Law Chambers, Melbourne, Australia. The event was announced by Academy of Marketing Science. In all 15 scholars participated from different parts of the world in the consortium. 2. Participated in World Marketing Congress held from 17th- 19th July, 2013 in Melbourne, Australia Publication: Paper titled 'ENVIRONMENTAL CONSCIOUSNESS, ITS ANTECEDENTS AND BEHAVIOURAL OUTCOMES' published in Journal of Indian Business Research, Vol.5 No. 3, 2013 (pp198-214), and can be viewed online at http://www.emeraldinsight.com/fwd.htm?id =aob&ini=aob&doi=10.1108/JIBR-102012-0080. Coauthored

Dr. Vanita Tripathi

Dr. Kavita Sharma receiving her certificate from Consortium Chair

Research Publications: 1. Market Efficiency in G-20 Countries: The Paradox of Financial Crisis” in Annals of Financial Economics( ISSN: 2010-4960) Vol. 8 No. 1 ( June 2013) pg 1-27 ( Co authors- Joao Paulo Vieto, KV Bhanu Murthy).

Dr. Sunaina Kanojia Book Published: "EASY APPROACH TO BUSINESS LAWS: DU FOUR YEAR COURSE SEM-1", 2013, Ane Books Pvt. Ltd., ISBN: 9789382127734, pages: 624: Co-Authored.


33

F aculty Corner Mr. Sameer Lama 1. Mr. SameerLama was a panel speaker and delivered a lecture on “Career in Academics, Publication and Research: Issues and Prospects”, at the School of International Studies, Jawaharlal Nehru University, New Delhi on 14th April, 2013. The founding Vice-Chancellor of Sikkim Central University and an eminent professor of SIS, JNU, Prof. Mahendra P. Lama was the moderator of the session. 2. Mr. Sameer Lama was invited to deliver a special lecture to the Tibetan Refugee Students' by a Tibetan NGO- “ENVISION” on the different career prospects and admission criteria in Delhi University for the Tibetan students. The seminar was held on May 29-30, 2013 at India International Centre, Lodhi Road, New Delhi.

Sameer Lama addressing the gathering at SIS, Jawaharlal Nehru University on 14th April, 2013

Sameer Lama delivering lecture in a seminar for Tibetan Students at India International Centre, Lodhi Road, New Delhi

34


Reforms in the Department Changes in DRC Meeting Departmental Research Committee in its meeting held on 22nd May, 2013 introduced certain reforms: •

For the purpose of Ph.D. advisory meeting it was decided that progress report form should be prepared for the Ph.D. candidates on the basis of existing format of Ph.D. record book.

•

In order to revise the current process of direct Ph.D., a committee comprising Dr. Kavita Sharma, Ms. Abha Shukla, and Dr. Sunaina Kanojia was constituted. This committee will submit the details for discussion for the next meeting after studying the process followed in the Faculty of Management Studies and Department of Financial Studies.

•

It was discussed and decided in the meeting to continue with the existing practice of having eligible college teachers for Ph.D. supervision.

Junior Research Fellowship (J.R.F.) Interpretation It was decided in the DRC meeting held on 23rd May, 2013 that for the purpose of counting seats under faculty members, interpretation of J.R.F. shall be taken as the actual J.R.F. (i.e. who are drawing J.R.F.).

Maximum Number of Students under a Faculty On the advice of the V.C. nominee and after detailed discussion, it was unanimously decided in the DRC meeting that maximum limit of number of J.R.F. students under each Professor, Associate Professor, and Assistant Professor should not be more than 50% of the prescribed limit given under university research guidelines in Ordinance VI B (in case of Professor: 8, Associate Professor: 6 and Assistant Professor: 4). Accordingly, maximum number of J.R.F. students registered under the faculty was decided to be as follows: Professor- 4; Associate Professor - 3; Assistant Professor – 2.


35

N ews Highlights Narayana Murthy returns to Infosys •

Infosys co-founder Mr. N.R. Narayana Murthy came out of his 2 year retirement as the Board of Directors appointed him as Executive Chairman of the Board and Additional Director effective from June 1, 2013.

•

Mr. Murthy replaced Mr. K V Kamath who became Lead Independent Director.

•

The industry welcomed the appointment of Murthy as Chairman as is reflected in Infosys share price closing 4% higher on June 3 adding Rs. 6107 crores to Infosys's market value.

•

Mr. Murthy's son Dr. Rohan Murty joined him as his executive assistant. This is a contradiction to what Murthy once held that no family member of a founder can ever come to work at Infosys.

•

On June 13 making his first strategic move, Mr. Murthy hiked the wages of the company's 1.5 lakh employees. Providing a hike of upto 8% Murthy has reduced anxiety and provided stabilization to the organization.

•

According to Mr.Murthy it will take at least 36 months in rebuilding Infosys to a desirable status and for that he has signaled at the return of top executives to Infosys who left the company for other opportunities in the past.

Gold imports on a rise •

India's trade deficit widened to $20.1bn for May 2013 from $16.9bn in 2012 on account of increase in volume of Gold imports.

•

The Gold imports surged to near 90% to $8.4bn during the month of May.

•

The increased gold imports have led to an increase in Current Account Deficit(CAD) of India, measured at 6.7% of GDP in 3rd quarter of 2012-2013.

•

The widened CAD has exerted pressure on Indian Rupee ensuring that RBI did not lower the key policy rates.

•

The Government has raised the import duty on Gold to 8%, third increase in less than 2 years to curb the imports of gold banks and other agencies.

•

The increased import duty on Gold can led to a 40% increase in smuggling of gold. The finance minister has repeatedly taken measures to control the imports of gold including a loose comment suggesting people not to buy gold for next 1 year.

Air Asia to enter Indian aviation sector

36

•

Malaysia based airlines - Air Asia, one of the pioneers in low cost air travel in Asia has sought approval to start services in India later this year.

•

It has formed a joint venture with Tata Sons and Telestra Tradeplace of Arun Bhatia in a 49:30:21 holding.


N ews Highlights •

In an announcement in May'2013AirAsia named Mr. MittuChandilya as the CEO of its Indian venture.

•

On June 16 Air Asia announced Mr. Ratan Tata as the advisor of its Indian venture and promised 'Nano' airfares once it starts its operations in India.

•

Air Asia will be operating from Chennai with a focus on Tier –II and Tier – III cities replicating its business model existent in places like Malaysia, Thailand, Indonesia, Philippines and Japan.

•

On June 17 Air Asia assigned Mr. S. Ramadorai as its Chairman to complete its entire top management team.

•

Mr. Ramadorai(former chief executive at Tata Consultancy Services) being the fourth person from the Tatas to hold a position in airline joint venture after Mr. Ratan Tata as chief advisor,

•

Mr. R. Venkataraman (former executive assistant to Ratan Tata) and Mr. Bharat Vasani (chief legal counsel of the Tata Group), who joined as directors on the board.

Drop in inflation rates in April and May, 2013 •

Decline in the food prices and vegetables dragged down inflation (WPI) rates in April to 4.89%.

•

The decline in inflation rate brought it to a 3-year low; it is lowest level of inflation since Nov 2009 when inflation was at 4.78%.

•

The retail inflation (CPI) for the same month came down to 9.39%, down to single digits after many months indicating the decline in inflation rates.

•

The inflation (WPI) further declined to 4.7%, lowest in 42 months in May'2013 increasing the hopes of policy rates cut in the upcoming RBI meetings.

•

The significant decline in inflation rates not only helped easing of prices for common people but also raised hopes for a rate cut by RBI on June 17, 2013. Sadly, due to significant weakness in Rupee and risks from the Current Account Deficit RBI did not cut any policy rates.

FDI Cap review •

To promote India as an investment destination, the finance ministry has proposed hiking FDI ceiling in various sectors.

•

The review is likely to come up before the Union Cabinet in third week of July.

•

A committee headed by economic affairs secretary ArvindMayaram has recommended that FDI limit be raised to 49% in sectors like single-brand retail, existing pharma companies, power and commodity exchanges, PSU banks, tea plantation, print media, PSU petroleum refinery, asset reconstruction companies, stock exchanges, insurance, depositories and clearing corporations and satellite services through automatic route.

•

The panel has suggested that FDI in defence be raised to 49% under the


37

N ews Highlights government approval route, from 26% at present. •

It has proposed to increase FDI cap to 74% in the multi-brand retail trading under the government approval route.

•

The committee has suggested 100% FDI in civil aviation sector for non-scheduled air transport services under the automatic route as against the current 49%.

•

The Government is keen on increasing FDI ceilings to attract more overseas investments and finance the widening current account deficit (CAD).

Depreciating Rupee Indian currency (INR) has depreciated close to 22% in the last one year. The persistent decline in rupee is a cause of concern. Depreciation leads to imports becoming costlier which is a worry for India as it meets most of its oil demand via imports. Apart from oil, prices of other imported commodities like metals, gold etc. will also rise pushing overall inflation higher. Even if prices of global oil and commodities decline, the Indian consumers might not benefit as depreciation will negate the impact. The depreciating rupee will add further pressure on the overall domestic inflation and since India is structurally an import intensive country, as reflected in the high and persistent current account deficits month after month, the domestic costs will rise on account of rupee depreciation. Exchange rate risk also drives away foreign investors which in turn depreciates the local currency. Indian Rupee is currently caught in this vicious cycle; it will have to find a stable level to regain investors' confidence The depreciating rupee has serious effects on the external debt figures of the nation. Owing to uncertainty prevailing in Europe and slump in international market, investors prefer to stay away from risky investments (flight to security). This has significantly affected the portfolio investment in India. Credit rating agency's downgrade of India to BBB- with a negative outlook, the last of the investment grade has not helped the cause. Any outward flow of currency or decrease in investment will put a downward pressure on exchange rate. This Global uncertainty has adversely impacted the domestic factors (current and capital account etc.) and caused the depreciation of rupee. Key policy reforms like Direct Tax Code (DTC) and Goods and Service Tax (GST) have been in the pipe line for years. A retrospective tax law (GAAR) has already earned a lot of flak from the business community. Attempts are being made to control the subsidy bills but fiscal deficit continues to hover around 5% of GDP. The government announced FDI in retail but had to hold back amidst huge furore from both opposition and allies. This has further made investors sentiment negative over the Indian economy. INR is not the only currency depreciating. Except for China almost every developing country has shown a deprecating pressure on their currency. The FII investment data for 2012 shows that India had huge capital inflows for the first two months and it started declining only after the euro zone crisis reared its head again. This shows that the absence of reforms alone cannot account for the sheer magnitude of the slowdown. The fact that we have had a comparable slowdown only at the peak of the subprime crisis does suggest that external conditions must be primarily responsible this time as well.

38


N ews Highlights The rupee fell to a record low of 60.7685 to the dollar on July 31, breaching past its all-time low of 59.9850 touched on June 20. This was triggered after the Federal Reserve signalled a tapering of its monetary stimulus later this year. The effect of U.S. Federal Reserve Chairman Ben Bernanke's confirmation highlights the India's dependence on foreign capital inflows to fund its current account deficit.

The Union Budget: 2013-14 The Union Budget of 2013-14 held special importance this year as it was announced in the backdrop of a challenging macroeconomic environment where India had achieved its lowest GDP growth in a decade. Characterized with a depressed global economic outlook and prevalence of domestic policy bottlenecks, the year started with news of the previous fiscal's fourth quarter GDP having dropped to 5.5%. That coupled with low growth, macroeconomic issues such as high fiscal deficit, expansionary subsidies and worsening current account balance has added to the slowdown. Expectations were therefore high as to the path the Finance Minister will take in guiding the Indian economy to recovery. Though there were no high profile announcements or big recovery plans outlined, the Finance Minister did not disappoint. He acknowledged the pain points in the economy and recognized that to boost industrial sector growth, proactive actions would be needed. Policy announcements on creating additional industrial corridors and promoting micro, small and medium enterprises through SIDBI are welcome. However, often we have seen that such policy announcements need strong ground level implementation. A key positive aspect of the Budget was in respect to commitment shown towards the fiscal consolidation plan. Despite the fact that planned expenditure has increased by almost 30% from the last year, the Finance Minister continued to target fiscal deficit of 4.8% in 201314. The Finance minister also announced that fiscal deficit for 2012-13 has been limited to 5.2%. This is clearly due to the focused measures undertaken in the second half of the year in cutting expenditure. With lower than estimated tax collections, meeting fiscal deficit targets was always going to be difficult. The Finance Minister needs to be lauded on this. Coming to the direct tax policies, not many amendments were suggested in the budget. With regard to GAAR, announcements made by the Finance Minister in January 2013 have been partially incorporated in the legislation. This is expected to provide some level of assurance. On personal taxes, a surcharge of 10% has been introduced on individuals with taxable income in excess of Rs. 1 crore for a period of one year. An important amendment relates to tax on royalty and fees for technical services to non-residents which stands increased from 10% to 25%. Showing his commitment to infrastructure, the Finance Minister has extended the tax holiday in the power sector by one year for commencement of operations. As a matter of comfort, the Finance Minister reiterated his commitment to the Direct Taxes Code by mentioning that the Bill will be tabled in parliament before the end of the budget session. On indirect taxes, the peak rate of customs duty, excise duty and service tax have remained unchanged though reduction has been provided on basic customs duty related to certain articles. The scope of the negative list has been proposed to be expanded to include courses offered by institutes affiliated to the State Council for Vocational Training and Testing activities in relation to agricultural produce. On the service tax front, exemptions related to certain services have been curtailed.


39

List of Gazetted Holiday S. No.

Holiday

Date

Day

1.

Milad-Un-Nabi or Id-E-Milad (Birthday of Prophet Mohammad) Republic Day Holi Good Friday Ram Navami Mahavir Jayanti Buddha Purnima Idu’l Fitr Independence Day Janmashtami Mahatma Gandhi’s (Birthday) Dussehra Id-ul-Zuha (Bakrid) Diwali (Deepavali) Muharram Guru Nanak’s B’day Christmas Day

January 25

Friday

January 26 March 27 March 29 April 19 April 24 May 25 August 09 August 15 August 28 October 02 October 13 October 16 November 03 November 14 November 17 December 25

Saturday Wednesday Friday Friday Wednesday Saturday Friday Thursday Wednesday Wednesday Sunday Wednesday Sunday Thursday Sunday Wednesday

2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17.

List of Restricted Holiday S. No.

Holiday

Date

Day

1. 2. 3. 4. 5. 6. 7. 8. 9.

New Year’s Day Makar Sankranti Pongal Guru Gobind Singh’s Birthday Sri Panchami Basanta Panchami Shivaji Jayanti Guru Ravidas’s Birthday Swami Dayananda Saraswati Jayanti Maha Shivratri Holika Dahan Easter Sunday

January 01 January 13 January 14 January 18 February 14 February 15 February 19 February 25 March 07

Tuesday Sunday Monday Friday Thursday Friday Tuesday Monday Thursday

March 10 March 26 March 31

Sunday Tuesday Sunday

10. 11. 12.

continued.........

40


List of Restricted Holiday S. No.

Holiday

Date

13.

Chaitra Sukladi/ Gudi Padava/ Ugadi/ Cheti Chand Vaisakhi Vishu Mesadi Vaisakhadi (Bengal)/ Bahag Bihu (Assam) Guru Rabindranath’s Birthday Hazarat Ali’s Birthday Rath Yatra Jamat-Ul-Vida Parsi New Year’s Day Raksha Bandhan Vinayaka Chaturthi/ Ganesh Chaturthi Onam Dussehra (Maha Saptami) (Additional) Dussehra (Maha Ashtami) (Additional) Dussehra (Maha Navmi) Maharishi Valmiki’s Birthday Karaka Chaturthi (Karva Chouth) Deepavali (South India) Naraka Chaturdasi Govardhan Puja Bhai Duj Pratihar Sashthi or Surya Sashthi (Chhat Puja) Guru Teg Bahadur’s Martyrdom Day Christmas Eve

April 11

Thursday

April 13 April 13 April 14 April 15

Saturday Saturday Sunday Monday

May 09 May 24 July 10 August 02 August 18 August 20 September 09

Thursday Friday Wednesday Friday Sunday Tuesday Monday

September 16 October 11

Monday Friday

October 12

Saturday

October 13 October 18 October 22 November 02 November 02 November 03 November 05 November 08

Sunday Friday Tuesday Saturday Saturday Sunday Tuesday Friday

November 24

Sunday

December 24

Tuesday

14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37.

Day

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Department of Commerce Delhi School of Economics University of Delhi, Delhi-110007