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Article

Impact of Cooperatives in Financial Inclusion & Comprehensive Development

1Department of Management Studies National Institute of Technology, Trichy


Journal of Finance and Economics. 2013, 1(3), 49-53
DOI: 10.12691/jfe-1-3-4
Copyright © 2013 Science and Education Publishing

Cite this paper:
P. Lakshmi, S. Visalakshmi. Impact of Cooperatives in Financial Inclusion & Comprehensive Development. Journal of Finance and Economics. 2013; 1(3):49-53. doi: 10.12691/jfe-1-3-4.

Correspondence to: P. Lakshmi, Department of Management Studies National Institute of Technology, Trichy. Email: plakshmi@nitt.edu

Abstract

The promotion of an inclusive financial system is considered a policy priority in many countries. Financial inclusion is important for improving the living conditions of poor farmers, rural non- farm enterprises and other vulnerable groups. While the importance of financial inclusion is widely recognized, there is lack of assessment of the extent of financial inclusion based on credit flow to small borrowers in Indian economy. The liberalized, increasingly global, market driven economy of India today, has failed to facilitate inclusive growth. This paper attempts to fill this gap by evaluating the extent of financial inclusion and emphasises the active participation of cooperatives as important tools of financial inclusion in India.

Keywords

References

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[[2]  Rangarajan Committee (2008), Report of the Committee on Financial Inclusion, Government of India.
 
[[3]  “Innovations in Addressing Rural Finance Challenges In Africa”Afraca Technical Workshop, 26th November 2008 www.afraca.org.
 
[[4]  Dr. K. Sriharsha Reddy, “A Study on Extent of Financial Inclusion among Small Borrowers in Andhra Pradesh”, CLEAR International Journal of Research in Management, Science and Technology Vol-1 No-1 Jan-Jun 2011.
 
[[5]  Mohan Rakesh (2006), “Economic growth, Financial Deepening and Financial Inclusion”, Address at the Annual Bankers’ Conference 2006, Hyderabad.
 
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[6]  Basant Kumar &BrajarajMohanty, “Financial inclusion and inclusive development in SAARC countries with Special Reference to India” Vilakshan, XIMB Journal of Management Vol VIII Issue 2 September 2011.
 
[7]  World Bank (2006), “Micro Finance in South Asia- Towards Financial Inclusion of the Poor”.
 
[8]  AroraRashmiUmesh, (2010), “Measuring Financial Access”, Griffith University, Australia, June.
 
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Article

Equity Valuation Approach Based on Accounting Variables

1Faculty of Engineering, Khonkaen University, Khonkaen, Thailand


Journal of Finance and Economics. 2013, 1(3), 41-48
DOI: 10.12691/jfe-1-3-3
Copyright © 2013 Science and Education Publishing

Cite this paper:
Thanakornn Phansawadhi. Equity Valuation Approach Based on Accounting Variables. Journal of Finance and Economics. 2013; 1(3):41-48. doi: 10.12691/jfe-1-3-3.

Correspondence to: Thanakornn Phansawadhi, Faculty of Engineering, Khonkaen University, Khonkaen, Thailand. Email: thanakornn@gmail.com

Abstract

This academic paper proposed theoretically the alternative estimate of the cost of equity capital (COE) for accounting-based residual income model (RIM), which this quantity becomes an important variable for the intrinsic worth valuation model. Its format can be express interchangeably in many forms of accounting variables combining with some financial ratio. The basic assumption is relying on that the quantity of COE for an asset should reflect from its profitability and change in market price during given periods. By taking reverse-calculation into the particular RIM equation, these outcomes (alternative COE estimates) are consistent according with the fact that the investors reasonably expect to earn from investing in shares of a firm through both or either total dividends and prospective increment in market capitalization. The proposition can be eliminating the lacked explanation of existing estimates and also explainable why investors are still investing in shares of a firm that has no dividend policy. While traditional estimation methods default the explanation of this truth.

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References

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Article

Economic Burden of Multiple Sclerosis on patients: Research Findings from Greece

1Economics Department, University of Piraeus, Piraeus, Greece

2Informatics Department, University of Piraeus, Piraeus, Greece


Journal of Finance and Economics. 2013, 1(3), 36-40
DOI: 10.12691/jfe-1-3-2
Copyright © 2013 Science and Education Publishing

Cite this paper:
Athanassios Vozikis, Eleni Sotiropoulou. Economic Burden of Multiple Sclerosis on patients: Research Findings from Greece. Journal of Finance and Economics. 2013; 1(3):36-40. doi: 10.12691/jfe-1-3-2.

Correspondence to: Athanassios Vozikis, Economics Department, University of Piraeus, Piraeus, Greece. Email: avozik@unipi.gr

Abstract

The Multiple Sclerosis (MS) is a chronic autoimmune, inflammatory disease, which is the third cause of serious disability for the ages between 20 and 40 years old. More than 8,000 Greeks suffer from this disease. The scope of our research is to estimate the economic burden on patients with MS, through the analysis of their out - of - pocket payments. The study was conducted in 2010 to a random sample of 400 patients, from whom 288 (103 men and 185 women) completed the research questionnaire. The average annual out - of - pocket payments of MS patients, found to be 8,334€, significantly varying by the gender and the severity of the disease. From our research it was unveiled the significant economic burden on patients with MS in Greece. Consequently, it is appointed the imperative need of research on the social and economic cost of MS and of introducing an integrated support system for the patients.

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References

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Article

An Alternative Proof to Markowitz’s Model

1Department of Mathematics, Bar-Ilan University, Israel


Journal of Finance and Economics. 2013, 1(3), 33-35
DOI: 10.12691/jfe-1-3-1
Copyright © 2013 Science and Education Publishing

Cite this paper:
Yaniv Zaks. An Alternative Proof to Markowitz’s Model. Journal of Finance and Economics. 2013; 1(3):33-35. doi: 10.12691/jfe-1-3-1.

Correspondence to: Yaniv Zaks, Department of Mathematics, Bar-Ilan University, Israel. Email: yaniv.zaks@gmail.com

Abstract

In the fundamental paper on portfolio selection, Markowitz (1952) described via geometric reasoning his innovative theory and provided the explicit optimal selection for the cases of 3 and 4 assets. Merton (1972) obtained for the general case the efficient portfolio frontiers explicitly by using Lagrange multipliers. In this paper, we suggest a geometric approach to achieve the explicit optimal selection for the general case thus generalizing Markowitz’s original approach to achieve the explicit presentation of the desired selection.

Keywords

References

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[[4]  Merton R.C., 1972. An analytic derivation of the efficient portfolio frontier. Journal of Financial and Quantitative Analysis 7 (4): 1851-72.
 
[[5]  Best M.J. and Grauer R.R., 1992. Positively weighted minimum-variance portfolios and the structure of asset expected returns. Journal of Financial and Quantitative Analysis 27: 513-537.
 
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