DYNAMIC EVOLUTION OF MANAGEMENT PARADIGM
This book titled “Dynamic Evolution of Management Paradigm”
is an outcome of two-days International Seminar at Vidyasagar University
(Department of MBA) during 26-27 February,2016 from where 38 papers have been selected for
this edited volume.The editors are Prof and Head of MBA department Dr.Sudin Bag
and Dr.Debesish Biswas,Assistant Professor.The study area was covered in
Business, Economics,Management,Marketing ,Accounting ,Finance and other allied areas on
global basis.Many academicians in India and abroad including research scholars
of Vidyasagar University attended the seminar and presented their
papers.Prof.Ranjan Chakraborty,Vice Chancellor of Vidyasagar University
inaugurated the seminar.
Some important papers of The contents are given below:
1]Consumer preference at the time of purchasing a smartphone
:A study using conjoint analysis-Debarun Chakraborty and Suvojit Pahari
2]Peoples perception of green marketing and its influence on
consumers of WestBengal-Akash Bhattacherjee and Surjyashikha Das
3]The supply chain management in the Indian coal industry
with special reference to Ananda Carbo Pvt.Ltd.—Saroda Chatterjee
4]Resellers perceptual audit on different cement brands:A
study on New Allied Products of a cement industry—Biswajit Roy and Sudin Bag
5]Redefination of Accounting cycle in its environment—Prof.Nibedita
Mallick
6]FDI in Banking sector in India—Dr.Susanta Mitra and Nirmal
Chandra Roy
7]Corporate corruption and corporate governance-a conceptual
view---Dr.Pradeep Kumar Basu
8]NGO leadership
dynamics—Chandrajyoti Sen Majumder
9]Employee empowerment :A strategic approach to attain
business excellence—Ananya Ghosh and Prof Debeshish Biswas
10]Are research and development activities dynamic in Indian
Pharmaceutical industry:An empirical study
11]Role of crisis management to survive infrastructure
sector-An Analysis---Sudarshan Maity
12]Corporate social responsibility:relevance of csr in
Indian Business environment as a strategy for corporate
sustainability---Prof.Gautam Sharma
13]Sustainable community development through ecotourism:A
case study of North Bengal and Sikkim region---Dr.Shuvendu Dey and Analjyoti
Basu
14]Micro credit :A financial tool for women empowerment in
West Bengal with special reference to Bandhan Bank-Bijoy Gupta and Prof.Kartick
Ch.Pal
15]Chinese Yuan enters into the basket of special drawing
rights---Dr.Debesh Bhowmik.
All the papers are highly qualitative and future research
deserving for students.
My paper—Page no-336-349
CHINESE YUAN ENTERS
INTO THE BASKET OF SPECIAL DRAWING RIGHTS
Dr.Debesh Bhowmik
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.
DYNAMIC EVOLUTION OF MANAGEMENT PARADIGM
Editors—Dr.Sudin Bag and Dr.Debashish
Biswas(Department of MBA,Vidyasagar University,2016),Giri Printers,Price-850/-
