INTERNATIONAL
SEMINAR ON “DYNAMIC EVOLUTION OF MANAGEMENT PARADIGM”
(Organised
by Department of Business Administration of Vidyasagar University)
------------------
Debesh Bhowmik
During 26-27
February,2016,Department of Business Administration,Vidyasagar University, WestBengal
organized 2-days UGC sponsored International Seminar on “Dynamic Evolution of
Management Paradigm”.It was inaugurated by honourable vice chancellor
Prof.Ranjan Chakraborty lighting the lamp with many of the other dignitaries.In
his inaugural speech ,he told about the need of management helps and he is a
believer of nature and environment .He mentioned about GHG, climate change,correlation
between humans and nature.How global warming damage the nature,he showed
briefly where he noted two books,”Expansion of Sahara” and “Encroachment of
Sahara” which were helped Tagore to write the poem of Africa.Rabindranath
Tagore is also an ecologist who emphasized BRISHKHOROPAN, and he was an
environmentalist. Prof.Chakraborty is not in favour of the concept sustainable
development and green development because it is an infinite and endless
process.In Plenary Session on 26th February,Prof.Bhabotosh
Benerjee,a guest faculty of IIM,Calcutta addressed on important management
theories,viz,Michael Porter’s value chain approach, Robin Cooper’s
confrontation strategy etc with detailed analytical views. In the Plenary
session,Prof.Lokaranjan Guha ,from University of Queensland, in his guest
lecture,said on the theme of the seminar and focus on local possibilities for
the development of Midnapore of marketing facilities of various agro-product
from which the MBA scholars can make project how to secure dynamism in the
marketing process in this area.He emphasized on modern IT,ecommerce,supply
chain management,green growth,renewable energy,and upgradation of management
education.
On the
Strategic Marketing Session,Dr.Debmalya Dutta ,Prof.of Burdwan University,MBA
gave key note address and more than 13 paper presenters from different
universities and colleges have presented their valuable papers on service
marketing,consumer preference,digital marketing,supply chain management,medical
tourism,attitudinal gap,tea bush health analysis, and management,organic food,competitive
marketing strategy,on line marketing,fast food,consumer band perception etc.
In the
Accounting,Finance,Banking and Economics session,Prof.P.K.Hota of Utkal
University gave key note address on Indian Banking Performance and also
mentioned on Make in India programme.More than 10 important papers on RRB,micro
finance,FDI,Accounting cycle,financial inclusion,risk management,higher
education were presented.
In the
Plenary session on 27th February,2016, Prof Dhananjoy Kumar of
Islamic University, Kustia, Bangladesh, gave key note address on Evolution of
Human Resource Management, especially on Bangladesh economy. He mentioned about
the scope of its development showing HDI of Bangladesh and confessed that his
country follows India,USA,Japan etc.The Chairman of this Session Prof.Debobrata
Mitra of North Bengal University told about Indian capital market and its
recent development in a brief.In the technical session-3,there are many
important papers on Intellectual capital,NGO,Employee empowerment,R and D in
Phermaceutical industry,Institutional ownership,green farm practices,crisis
management,industrial relation,stress,white color crime etc.
In
session-4,key note paper was delivered by Prof. P.Bezborah of Dibrugarh
University,Assam.on Leadership-The key to Human Productivity where he gave
importance on leadership which influence on human development,growth,productivity,managerial
skill,organizational process,as well as employee and ownership relationship.The
chairperson ,Prof.Bidhu Bhusan Misra-Prof of Utkal University addressed on the
role of public sector banks.In the session,there are many academic papers on globalization
on business,women’s sexual harassment,corporate social responsibility,corporate
governance,primary agriculture society,make in India,stock market of
India,quality control management,FDI, and Chinese Yuan enters into SDR basket,.
I had a
paper in the technical session-4 entitled,”Chinese Yuan enters into the basket of
special drawing rights” which was awarded as the best paper in this session.
CHINESE YUAN ENTERS
INTO THE BASKET OF SPECIAL DRAWING RIGHTS
Dr.Debesh Bhowmik
(Retired Principal and Associated with International Institute for Development
Studies, Kolkata)
Keywords-Special Drawing Rights, Alternative weight
of Yuan, Yuan /US$ exchange rate, ARIMA(1,1,1),AR(3),GARCH(1,1)
JEL-F31,F33,F55,F58,P34,
The paper analyses the approval of IMF for Yuan as
one of the currency in the basket of SDR which will effect from 1-10-2016
showing the weight of Yuan as 10.92% as against 41.7% for US$, 30.9% for Euro ,
8.3% for Yen and 8.1% for Pound Sterling respectively. An alternative weight
for the SDR basket is proposed.
The paper explained that the decision of IMF will
boost internationalization of Yuan,will speed up the transition from managed
float to freely floating exchange rate mechanism including reform of financial
sector and capital account convertibility as well as bust in the equity and
share markets. It might increase Chinese global export share and expect further
depreciation of Yuan subject to increase in interest rate in Federal Reserve
Bank.
The paper verified that Chinese gross and global
shares of export and import are positively associated with gross SDR and global
share of SDR during 1980-2013 which were observed by double log regression
model but these variables were not cointegrated which are calculated by
Johansen Cointegration Test. ARIMA(1,1,1) model is tested to show the
stationarity of Yuan US$ monthly nominal exchange rate during 2010M1-2016M1. AR(3)
process is applied to verify the volatility, stability and stationarity. Even
GARCH(1,1) model including conditional variance were used to show high
volatility during the specified period.
The paper emphasized that in the long run, China
will lead the Asian and world capital market as well as Asian and global trade
and finance as were observed in ancient past during 1300-1700.By 2030,Chinese
global GDP share is projected as 33.4% as against 33.1% of USA. It is hoped
that Chinese new status in the IMF might bring back as a catalyst to stabilize
international monetary system with the emergence of SDR as a world reserve
currency and as an unit of account for international payments mechanism if most
of the countries peg their currencies with SDR which can converge international
price level and increase global trade so that shortage of international
liquidity might disappear and reestablishment of a new Bretton Woods III might
evolve.
My paper is awarded as the best paper in the Technical Session -4 (Photo -Prof.S.Bag, Prof.P. Bezborah, Dr.Bhowmik and Prof.D.Biswas).
