INTERNATIONAL SEMINAR ON DYNAMIC EVOLUTION OF MANAGEMENT PARADIGM

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 26^th 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 27^th 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).