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Dinabandhu Bag
Dinabandhu Bag
Dinabandhu Bag
Organized by Vinod Gupta School of Management & RCG School of Infrastructure Design and Management
Vinod Gupta School of Management & RCG School of Infrastructure Design and Management
Contents
Welcome Committee Details Inaugural Session Program Schedule Valedictory Session
Preface
Sustainable economic growth is one of the principal objectives of the developing world. The major precondition for attaining this goal, however, is the availability of infrastructure in the economy, both in passable quantity and quality. Infrastructure is considered as the wheel, if not the engine of development. The deficiency of infrastructure will certainly hamper sustainable economic growth. In most of the developing countries including India, the status of infrastructure is low as compared to the need of the respective countries. While the demand for infrastructure is growing at a much faster rate, supply is more or less stagnant. This is mostly due to the rapid urbanization and globalization taking place across the world. The major hurdle for closing this demand and supply gap is the non-availability of finance for infrastructure creation. Despite the large number of projects that are either in progress or in the pipeline, India is continuously challenged to cope with an increasing demand for infrastructure services. The government has put together an ambitious plan to upgrade and expand infrastructure with special focus on urban infrastructure, particularly transportation, power, water, etc. Within this context the private sector is expected to provide the necessary investment through privatization and PPP schemes. The development of this sector is anticipated to stimulate economic growth, creat jobs, diversify economy and improve the quality of life in the country. The aim of this International Conference on Frontiers of Infrastructure Finance is to bring together different stakeholders from various parts of the world to a single platform to exchange views and share knowledge so as to build a road map for infrastructure creation and its management. The event is well attended with participation of delegates from various institutions/ organizations from India and abroad. They include Planners, Researchers, Corporate Analysts, Financial Analysts, Engineers, Economists, Statisticians, Mathematicians, Econometricians, Industrial Professionals and Consultants. This volume presents the abstract of the papers being presented in the International Conference on Infrastructure Finance, organized jointly by Vinod Gupta School of Management & RCG School of Infrastructure Design and Management, Indian Institute of Technology Kharagpur during December 28-30, 2011. The total number of abstracts included in this volume is 330 and has been arranged in alphabetical order. The major themes of this conference include transport infrastructure, energy infrastructure, communication infrastructure, social infrastructure, strategy for infrastructure finance, financial infrastructure, international finance, project management, infrastructure and its other link. We are very thankful to all the institutes/ organizations for their support in organizing this international conference. We are also grateful to faculty, staff and students of IIT Kharagpur for their valuable support, kind cooperation and varied assistance rendered in producing this volume. Prof. K. S. Reddy/ Rudra P. Pradhan Conference Convenors, ICFIF 2011 3
CONFERENCE COMMITTEE
CONFERENCE COMMITTEE PATRON Prof. Damodar Acharya Director, Indian Institute of Technology, Kharagpur PROGRAMME CHAIRS Prof. Arabinda Tripathy Dean, Vinod Gupta School of Management, IIT Kharagpur Prof. Uttam K. Banerjee RCG School of Infrastructure Design and Management, IIT Kharagpur PROGRAMME CO-CHAIRS Prof. Kalyan K. Guin Associate Dean, Vinod Gupta School of Management, IIT Kharagpur
CONFERENCE CONVENORS Prof. K. Sudhakar Reddy Department of Civil Engineering, IIT Kharagpur Dr. Rudra P. Pradhan Vinod Gupta School of Management, IIT Kharagpur 4
DIAMOND JUBILEE INTERNATIONAL CONFERENCE ON INFRASTRUCTURE FINANCE ICFIF- 2011 December 28-30, 2011 PROGRAM SCHEDULE
Date: December 28, 2011 Registration: Time: 16.30- 18.30 Hrs Venue: Gargi Hall, Vikramshila Complex
Registration: Date: December 29, 2011 Registration: Time: 8.30- 9.30 Hrs Venue: Gargi Hall, Vikramshila Complex Tea Break: 9.30- 9.45 Hrs
Guest Lecture I
Time: 12.15 1.00 Hrs Venue: Kalidas Auditorium, Vikramshila Complex Speaker: Professor G. Raghuram, Indian Institute of Management,
Ahmedabad Topic: To be announced Vote of Thanks: Prof. Arabinda Tripathy, Indian Institute of Technology Kharagpur, India
Lunch Break: 12.15 13.30 Hrs; Venue: Vikramshila Foyer Venue: Vikramshila Foyer
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Venue: Kalidas Auditorium, Vikramshila Complex Convenor: Prof. H. K. Pradhan, XLRI Jamshedpur Panel Members:
Prof. Amitabh Kundu, Jawaharlal Nehru University, New Delhi, India Prof. Binay B. Chakrabarti, Indian Institute of Management, Calcutta, India Prof. Arabinda Tripathy, Indian Institute of Technology Kharagpur, India Prof. Uttam K. Banerjee, Indian Institute of Technology Kharagpur, India Prof. Yadollah Dadgar, Beheshty University, Iran Prof. Girijasankar Mallik, University of Western Sydney, Australia Prof. A. K. Pradhan (IAS), SIMSR, Mumbai, India Prof. Satpal Singh, National Institute of Urban Affairs, New Delhi, India Mr. Bhaskar Subramanian, PricewaterhouseCoopers Private Limited, India Prof. Vikas Srivastava, National Institute of Bank Management, Pune, India Mr. Rajiv Mandal, Concast Infratech, India
Cultural Programme
Time 18.45 20.00 Hrs Venue: Kalidas Auditorium, Vikramshila Complex
Grand Dinner
Time 20.00- 22.00 Hrs Venue: Kalidas Auditorium, Vikramshila Complex 21
Structure in India
Vote of Thanks: Prof. Arabinda Tripathy, Indian Institute of Technology Kharagpur, India
Guest Lecture V
Time: 12.00 12.45 Hrs Venue: Kalidas Auditorium, Vikramshila Complex Speaker: Prof. Binay Bhushan Chakrabarti, IIM Calcutta, India Topic: To be announced Vote of Thanks: Prof. Kalyan K. Guin, Indian Institute of Technology Kharagpur, India Lunch Break: 12.45 13.45 Hrs Venue: Vikramshila Foyer
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Theme: International Finance on Infrastructure Session III A Session Chairs: Mr. Bhaskar Subramanian, PricewaterhouseCoopers Private Limited, India Prof. Arun K. Misra, Indian Institute of Technology Kharagpur, India Paper Code Paper Title and Author (s) Effect of Sovereign Debt Crisis and Financial Crisis on Stock Market Volatility of 260 Italy ALM (Asset Liability Management) Mismatches Arising out of Infrastructure 154 196 Lending- Strategies to Mitigate An Empirical Study on Dividend policy Models in Indian IT Sector Estimating the Determinants, Dynamics and Structural Breaks in the Real Exchange 181 200 Rate of Libya Contagion Effect in Infrastructure Companies IPOs Country Risk and Inflow of Foreign Investment into India - An Empirical 339 Investigation Venue: Kalidas Auditorium, Vikramshila Complex
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Theme: International Finance on Infrastructure Session III B Session Chairs: Prof. Binay B. Chakrabarti, Indian Institute of Management, Calcutta, India Prof. Prabina Rajib, Indian Institute of Technology Kharagpur, India Paper Code Paper Title and Author (s) Determinants of Islamic Banks Financial Stability: 230 370 Empirical Analysis A Conceptual Study on Islamic Banking v/s Conventional Banking Empirical Evidence of Efficient Market Hypothesis on the Indian Stock 210 161 324 396 279 Markets in the Context of the Global Financial Crisis Comparative Performance Analysis of Indian Banks using CAMEL Estimation of Dynamic VaR Reassessment of Finance Growth Nexus in the Presence of Structural Breaks Capital Structure of Real Estate Firms in Emerging Market: An Analysis A Cross Country Venue: Gargi Hall, Vikramshila Complex
Theme: International Finance on Infrastructure Session III C Session Chairs: Prof. Vidya Sekhri, Institute of Management Technology, Ghaziabad, India Prof. Chandra Sekhar Mishra, Indian Institute of Technology Kharagpur, India Paper Code 238 388 Paper Title and Author (s) Financial Inclusion through Microfinance Foreign Exchange Market & Inherent Risks Foreign Institutional Investor (FII) Destabilize the Indian Capital Market an 296 281 194 Empirical Analysis Global Financial Crisis, Credit Default Swap be Made Responsible Power Global Financial Meltdown and Its Impact on the Indian Economy Good Beta Bad Alpha and A Simple Way Out: An Empirical Study of Listed Stocks 199 on NSE A Comprehensive Study of Derivatives and Selection of Most Suitable Company 395 for Investment in Nifty Venue: Maitri Hall, Vikramshila Complex
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Theme: International Finance on Infrastructure Session III D Session Chairs: Prof. Deepak Tandon, Lal Bahadur Shastri Institute of Management, New Delhi, India Prof. Vinodh Madhavan, Indian Institute of Technology Kharagpur, India Paper Code Paper Title and Author (s) Impact of FIIS on Indian Banking Sectors [With Special Reference to ICICI and 120 190 102 163 170 321 396 HDFC] at India bulls Indias Outward Foreign Direct Investment: Closed Doors to Open Souk Infrastructure Growth Turning Wheels of Prosperity Managing Global Finance in Digital Economy MFIs Can Play a Noteworthy Role in Improving the Lives of Poor at the BOP Movement of Stock Market Indices: Revisiting Wave Theory FDI in South Asia- Prospect and Challenges Venue: V1, Vikramshila Complex
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Theme: International Finance on Infrastructure Session III E Session Chairs: Prof. Mamta B. Chowdhury, Foundation Federal University of Rondnia, Brazil Prof. Parama Barai, Indian Institute of Technology Kharagpur, India Paper Code Paper Title and Author (s) What does IFRS mean for Indian infrastructure companies? Evidence from Power 375 242 393 Sector PSO Based Evolutionary Neuro-fuzzy Modelling for Stock Market Prediction Role of IT in Day-2-Day Transactions in Banking Sector : A study of Select Banks Success or Failure Story of Indian Commercial Banks in the Light of the Global 221 168 223 Financial Crisis The Impact of Inflation Uncertainty on Real Stock Returns in India Trade and Environment in India: A Computable General Equilibrium Analysis. Venue: V2, Vikramshila Complex
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Theme: International Finance on Infrastructure Session III F Session Chairs: Prof. Khorshed Chowdhury, University of Wollongong, Australia Prof. Vikas Srivastava, National Institute of Bank Management, Pune, India Prof. S. Srinivasan, Indian Institute of Technology Kharagpur, India Paper Code Paper Title and Author (s) Valuation Effect of Investment Expenditures on Selected Indian Listed Firms: A 234 Panel Data Analysis Valuation of Property is a Prominent Phase of Housing Finance -A Comparative 275 204 109 183 Study of Public and Private Banks in India Valuation Techniques for M & A in Telecommunication Industry Venture Capital: In the process of Catching Steam On the Dynamics of Crude Oil Prices Exchange Rate Forecasting Model- An Empirical Analysis of Artificial Neural 162 Network (ANN) vs Linear Regression Venue: V3, Vikramshila Complex
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communication: Challenges & Opportunity in the Global Information Infrastructure Economic Analysis of Procurement and Utilization of Storage in Warehouses of
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Round Table II: Time 17.00 18.30 Hrs Theme: P3 Model in Infrastructure Venue: Kalidas Auditorium, Vikramshila Complex Convenor: Murthy V. A. Bondada, UTEP, USA
Panel Members: Prof. Flvio de So PEDRO FILHO, Foundation Federal Uni. of Rondnia, Brazil Prof. B. K. Sengupta, Indian Institute of Technology Kharagpur, India Dr. Subrata Ghosh, Director, SREI Infrastructure, India Prof. K. K. Guin, Indian Institute of Technology Kharagpur, India Prof. K. S. Reddy, Indian Institute of Technology Kharagpur, India Prof. Joy Sen, Indian Institute of Technology Kharagpur, India Prof. Keshab Das, Gujarat Institute of Development Research, Ahmedabad, India Prof. Buddhadeb Ghosh, Indian Statistical Institute Calcutta, India Prof. Tapan P. Bagchi, Narsee Monjee Institute of Management Studies, Mumbai, India Prof. Atanu Ghoshray, University of Bath, UK Prof. Debasish Som, Feedback Infra, India
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DIAMOND JUBILEE INTERNATIONAL CONFERENCE ON INFRASTRUCTURE FINANCE ICFIF- 2011 Date: December 30, 2011 Closing Ceremony: Time 19.00 20.00 Hrs Venue: Kalidas Auditorium, Vikramshila Complex
Summary of the Programme Address by Dean, VGSOM Address by Head, RCGSIDM Address by Associate Dean, VGSOM Address by Dean, Planning & Coordination Address by Deputy Director Address by Chief Guest Vote of Thanks
Prof. K. S. Reddy/ Rudra P. Pradhan Prof. Arabinda Tripathy Prof. Uttam K. Banerjee Prof. Kalyan K. Guin Prof. Balbir K. Mathur Prof. Arun K. Majumdar
To be announced
Prof. Prithwis Mukerjee
Grand Dinner
Time 20.00- 22.00 Hrs Venue: Vikramshila Foyer