DYNAMIC EVOLUTION OF MANAGEMENT PARADIGM

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/-