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Saikia D.,Institute for Financial Management and Research
African Journal of Agricultural Research | Year: 2011

The paper examines the inter-sectoral linkages among the three major sectors- agriculture, industry and service- of Indian economy using the input-output framework. We observed that the inter-sectoral linkages have been undergoing structural changes during the pre- and post-reform periods. The 'agriculture-industry' linkage has not only been deteriorating over the years, it has undergone directional changes as both the production and demand linkages, which were primarily from industry to agriculture in the pre-reform period, transformed to agriculture to industry in the post-reform period. While there has not been any significant interdependence between agriculture and service sectors, there is strong interdependence between industry and service sectors and it has improved in the post-reform period. © 2011 Academic Journals.

Ramachandran V.,Institute for Financial Management and Research
Corporate Social Responsibility and Environmental Management | Year: 2011

In this paper, strategic corporate social responsibility (CSR) is defined on the basis of Porter's theory of competitive advantage. Two kinds of dynamic capabilities are proposed as the precursors to strategic CSR success and operationalized in terms of two sets of associated processes. The effectiveness of these processes is postulated to be dependent on their attributes and the human and social capital employed in them. Implications for practitioners and researchers are outlined. © 2010 John Wiley & Sons, Ltd. and ERP Environment.

Sudarshan A.,Institute for Financial Management and Research
Energy Economics | Year: 2013

Regulatory regimes that have increased household energy efficiency are of widespread interest to policymakers today. A prominent example is the state of California where electricity intensities in the residential sector have stayed near constant since the 1970s in sharp contrast to nationwide trends in the United States. A structural model of residential energy consumption is used to show that the use of energy intensities alone to evaluate the success of California efficiency programs is misleading and glosses over important policy independent factors. We quantify important effects of price, climate conditions and demographic characteristics on energy consumption in California. We also provide evidence of split incentive considerations in residential energy consumption patterns. We conclude that while state policy may have had some effect on efficiency, caution needs to be exercised in using the California example to inform expectations from similar measures in other regions. © 2013 Elsevier B.V.

Kumar D.,Institute for Financial Management and Research
Physica A: Statistical Mechanics and its Applications | Year: 2014

Using high frequency data, this paper examines the long memory property in the unconditional and conditional volatility of the USD/INR exchange rate at different time scales using the Local Whittle (LW), the Exact Local Whittle (ELW) and the FIAPARCH models. Results indicate that the long memory property remains quite stable across different time scales for both unconditional and conditional volatility measures. Results from the non-overlapping moving window approach indicate that the extreme events (such as the subprime crisis and the European debt crisis) resulted in highly persistent behavior of the USD/INR exchange rate and thus lead to market inefficiency. This paper also examines the long memory property in the realized volatility based on different time scale data. Results indicate that the realized volatility measures based on different scales of the high frequency data exhibit a consistent and stable long memory property. However, the realized volatility measures based on daily data exhibit lower degree of long-range dependence. This study has implications for traders and investors (with different trading horizons) and can be helpful in predicting expected future volatility and in designing and implementing trading strategies at different time scales. © 2013 Elsevier B.V. All rights reserved.

Monnier J.D.,University of Michigan | Zhao M.,University of Michigan | Pedretti E.,University of Michigan | Pedretti E.,Hemisphere | And 15 more authors.
Astrophysical Journal Letters | Year: 2011

Wolf-Rayet (WR) stars represent one of the final stages of massive stellar evolution. Relatively little is known about this short-lived phase and we currently lack reliable mass, distance, and binarity determinations for a representative sample. Here we report the first visual orbit for WR 140 (= HD193793), a WC7+O5 binary system known for its periodic dust production episodes triggered by intense colliding winds near periastron passage. The Infrared-Optical Telescope Array and Center for High Angular Resolution Astronomy interferometers resolved the pair of stars in each year from 2003 to 2009, covering most of the highly eccentric, 7.9 year orbit. Combining our results with the recently improved double-line spectroscopic orbit of Fahed et al., we find the WR 140 system is located at a distance of 1.67 ± 0.03kpc, composed of a WR star with M WR = 14.9±0.5 M ⊙ and an O star with M O = 35.9±1.3 M ⊙. Our precision orbit yields key parameters with uncertainties 6× smaller than previous work and paves the way for detailed modeling of the system. Our newly measured flux ratios at the near-infrared H and Ks bands allow a spectral energy distribution decomposition and analysis of the component evolutionary states. © 2011. The American Astronomical Society. All rights reserved.

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