Financial Econometrics from 15Th to 19Th October, 2019
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Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 Proceedings of Five Day Workshop on FINANCIAL ECONOMETRICS On 15th to 19th October 2019 Organised by Research and Post Graduate Department of Commerce Government College, Attingal Sponsored by Directorate of Collegiate Education Government of Kerala Government College, Attingal Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 Workshop Organising Committee Dr. V. Manikantan Nair, Principal, Government College, Attingal Dr. K. Pradeep Kumar, Co-ordinatror, Five day Workshop Dr. Lt. Sunilraj N.V, Co-coordinator, Five day Workshop Sunil S., Head of the Department of Commerce Dr. Anitha S., Associate Professor Dr. Sajeev H., Assistant Professor Dr. Sarun S.G, Assistant Professor Manikantan G., Assistant Professor Dr. Shanimon S., Assistant Professor Dr. Binu R., Assistant Professor Editors Dr. K. PRADEEP KUMAR Dr. Lt. SUNILRAJ N.V. January, 2020 Research and Post Graduate Department of Commerce Government College, Attingal ISBN: 978-81-936576-7-6 Government College, Attingal Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 CONTENTS 1 REPORT OF FIVE DAY WORKSHOP ON FINANCIAL ECONOMETRICS 4 - 7 2 TECHNICAL SESSIONS I TO VIII Dr.S. KEVIN 8 - 27 3 TIME SERIES REGRESSION Dr. P.N. HARIKUMAR 28-32 4 INTRODUCTION TO GRETL Dr. K. PRADEEP KUMAR 33- 35 PERFORMANCE EVALUATION OF ENTREPRENEURSHIP DEVELOPMENT SCHEMES OF NATIONAL HANDICAPPED 5 AND FINANCE DEVELOPMENT Dr. SHANIMON S 36 - 44 CORPORATION TRENDS IN GLOBAL AQUACULTURE 6 Dr. ANITHA S. 45 - 47 PRODUCTION PERFORMANCE EVALUATION OF SBI LIFE 7 ANSA S. 48 - 52 INSURANCE COMPANY ARIMA MODEL IN PREDICTING NSE NIFTY50 8 Dr. LAKSHMANAN M.P INDEX 53 - 61 FINANCIAL DEEPENING AND ECONOMIC 9 Dr. PRADEEP KUMAR N. DEVELOPMENT OF INDIA 62 - 66 ANALYSIS OF TRENDS AND GROWTH OF 10 DIGITAL RETAIL PAYMENTS SYSTEM IN SUNIL S. 67 - 78 INDIA KILLING THE GOLDEN GOOSE- THE CASE OF PRAGEETH P 11 PRIVATE BUSES IN KERALA Dr. ANZER R.N. 79 - 86 TRENDS AND GROWTH OF TOURISM IN 12 KERALA THANSIYA N. 87 - 92 A CROSS-SECTIONAL ANALYSIS ON THE INFLUENCE OF VARIOUS COSTS OF 13 Dr. K. PRADEEP KUMAR 93-96 AQUACULTURE ACTIVITIES ON REVENUE FROM AQUACULTURE Government College, Attingal Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 REPORT OF FIVE DAY WORKSHOP ON FINANCIAL ECONOMETRICS MAIN THEME OF THE WORKSHOP to select Dr. S. Kevin, the former Pro-Vice Chancellor of University of Kerala and Financial Econometrics is selected as Professor of Commerce to impart the the topic for the workshop basically to train foundation training and Dr. Vijayamohanan the Commerce teachers in various Universities Pillai, Professor, Centre for Development of Kerala as the subject is recently included in Studies to impart advanced training in the the latest revision made in the UG and PG selected topic. Both trainers are well curriculum of various Universities in Kerala. recognized and handling the subject for many In Kerala University and many other years. Thus the Workshop was scheduled from Universities, the subject of Financial 15th the 19th October, 2019 as per their Econometrics has included under two major convenience. Frequent discussions with these modules in the Course „Quantitative two subject experts enables us to locate the Techniques and Financial Econometrics‟ in the major modules to be included in the workshop PG curriculum. As the content of the syllabus in a sequence from simple to complex. Thus is new to Commerce teachers, a short term the basic modules were assigned to Dr. S. training course in the form of a workshop is Kevin and the advanced modules were considered essential. At the same time, there is assigned to Dr. Vijayamohanan Pillai N. shift in focus of data analysis towards analysis of econometric data. Researchers are using PLAN FUND ALLOCATION Econometric modeling techniques in cross The College Council meeting held on sectional data, time series data and panel data. th In practice, these models are used for many 30 July, 2019 allocates an amount of Rs. practical situations involving measuring the 65000/ (Rupees Sixty Five Thousand Only) volatility, CAPM, simulation and the like. from the Plan fund sanctioned for FDP by the Thus the topic of workshop is highly relevant Directorate of Collegiate Education for the for Commerce and Management research now- conduct of Workshop by the Research and Post Graduate Department of Commerce. The a –days. Thus the Research and Post Graduate th Department of Commerce selected Financial Department meeting held on 14 August, Econometrics as the main theme of the 2019 assigned Dr. K Pradeep Kumar, workshop during this plan period (2019-20). Associate Professor of Commerce and Dr.Lt. Sunilraj N.V., Assistant Professor of SELECTION OF CHIEF TRAINERS Commerce as Co-ordinator and Co- coordinator respectively. An Organising As we need to impart both basic and Committee consisting of Principal, Head of the advanced level training in the subject with a Department and other Faculty members of direct focus on two groups of participants viz. Commerce was also constituted for preparing Teachers and Research Scholars, we decided Government College, Attingal Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 programme schedule and necessary stages for participants. The Five day Workshop is the successful conduct of the programme. inaugurated by Dr. V. Manikantan Nair, Principal Government College, Attingal. In his SELECTION OF PARTICIPANTS inaugural address he appreciates the efforts As the theme is focused on Teachers and taken by the Research and P.G Department of Research Scholars, the organizing committee Commerce in promoting research in decided to invite all teachers and research Commerce and Management subjects through scholars in various universities by clearly thes series workshops organized successfully explaining the theme and various modules every year. Dr. K. Pradeep Kumar, the Co- through the publicity materials. Personal e- ordinator of the Workshop presented the theme mails were sent to Heads of the Department of of the Workshop by quoting the series of Commerce of various Colleges and Workshops conducted successfully by the Universities to depute the teacher who is Research and Post Graduate Department of handling the subject or in need of training in Commerce since 2015 in every October. He the subject of Financial Econometrics. In mentioned the importance of this short term addition, brochures were sent to all Colleges, training programme in imparting skills to Univerisity Departments and Self Financing Teachers for handling the new subject and Colleges by clearly specifying the sequence of molding their research capabilities in modules included in different technical econometric data analysis. Dr. S. Kevin, the sessions. Participants are requested to register Chief trainer assigned for the first two days, in through e-mail by emphasizing their need for his special address congratulates the participation in the programme. Based on the Departmental initiates by the faculty for response of the participants, 21 teachers from promoting research in the subject. Prof. various Colleges of Kerala and 24 research Lakshmi Chandrasekhar, the Vice Principal of scholars were screened and selected for the College signified the importance of these participation in the programme. Selection workshop and express her gratitude to the memo is issued to all participants with strict Director of Collegiate Education for stipulation on adherence to attendance in all sponsoring these valid seminars and days. In addition to that 9 faculty members of workshops. Dr. Lt. Sunilraj N.V, the Co- Commerce Department, Govt. College, coordinator of the Workshop proposed vote of Attingal and 5 full-time research scholars of thanks in the inaugural session. The inaugural the Research Centre and 30 M.Com students session concluded by 9.50 a.m. of the Department participated in the TECHNICAL SESSIONS BY Programme. Thus a total of 89 participants DR. S. KEVIN attended the Five day workshop. Technical sessions from I to VIII were INAUGURATION AND THEME assigned to Dr. S. Kevin, the former Pro-Vice PRESENTATION Chancellor of University of Kerla and a former In the inaugural session, Prof. Sunil S., Head Professor of Commerce. The first technical of the Department of Commerce welcomed the session begins at 10.00 a.m with a brief Government College, Attingal Proceedings of Five day Workshop on Financial Econometrics from 15th to 19th October, 2019 introduction of Chief Trainer by Dr. Anitha S., Collinearity was disussed with solutions and at Assistant Professor of Commerce, Government the concluding session, the concpt of Co- College, Attingal. In the first technical session integration and its intricacies were discussed. on Introduction to Financial Econometrics, Dr. The second day comes to an end at 4.30 p.m. S. Kevin, clearly presented the importance of Participants were given feedback form to Financial Econometrics and its applications in evaluate the technical sessions of Dr. S. Kevin Micro Economics including business and and the hospitality of the department in serving industry. He answered the simple to complex the guest participants. queries made by the participants patiently and encourage them to widen the subject base by TECHNICAL SESSIONS BY reading books in Basic Econometrics. Tea and Dr.VIJAYAMOHANAN PILLAI N snacks were served to participants as Dr. Vijayamohanan Pillai, Professor of refreshments during the sessions without any Economics, Centre for Development Studies tea break. Clean and safe drinking water is also has assigned 10 technical sessions in the provided in the corner of the workshop venue. workshop to impart practical skills in In the second technical session, the trainer developing econometric models through sound focused on the importance of Normality of theoretical base and practical applications. He Distributions in Econometric modeling. The explained the concepts in all technical sessions training was done through examples with through GRETL applications .