reflections april-june, 2013

REFLECTIONSApril-June, 2013

Department of CommerceDelhi School of Economics

Quarterly Newsletter

From the Archives 4

Role of Honour 5

Departmental Activities 7

Students' Activities 16

Adieu to Batch 2011-2013 20

Research Output 22

Initiatives 24

Forthcoming events 29

Faculty Corner 30

Reforms in the Department 35

News Highlights 36

CONTENTS

Editorial Team

Dr. Kavita Sharma- Editor-in-ChiefDr. Sunaina Kanojia- Associate EditorMs. Sonia Kamboj- Faculty

The “Reflections” is getting a new 'look' as well as a new feel from 'inside'. In this issue, we are adding a section on “from the Archives” which contains valuable information on the foundation of Department of Commerce and the Faculty of Commerce and Business along-with rare pictures and historical material. In the next issue, we have plans to add sections on “Activities in Colleges” and “Research Articles” written by the researchers in the Department of Commerce. I expect that these articles will give an in-depth description of some of the exciting research projects that are currently underway in the Department and will provide an insight into the potential impact of the research projects. The main goal of this section would be to reveal some of the research opportunities offered to our research scholars.

I congratulate the Editorial Team for their hard work and enterprise in producing the second issue of “Reflections”. I look forward to reading many more excellent issues of the Department's newsletter in the times to come.

I hope you will enjoy reading this issue and we welcome your feedback on any aspect of the newsletter.

Sincerely,

Prof J P SharmaHead and Dean

Message from the Dean

This edition of quarterly newsletter - 'Reflections' showcases various departmental activities since its launch during M.Com convention held in the month of April'13.

Developing the course content for four year degree course and conducting the commerce convention were the two key activities held at the Department during this period. The successful completion of these two 'Mega' events is in itself the testimony to the rigor put in by one- and-all under the able guidance of Prof. J.P. Sharma and deserve the due applauds and a wide coverage here in this edition.

Archives - the new section add a dimension to this addition. Formation of Faculty of Commerce and Business is one of the landmarks in the Department history and I hope you will find it interesting to read. In future, we are planning to add the Research Output section with an idea to account for the fervor with which department is participating in the process of knowledge creation. This section will cover the brief about the research work examined for the award of M. Phil and Ph.D. degrees submitted to the department.

With the end of admission process for various courses, department geared itself to welcome the new batch of students for the academic session 2013-15. The details about admission process for all the courses offered by the department have been covered, thus giving an idea about the number of aspirants looking forward to be its part.

Through this addition I welcome them all and wish them success in their endeavours.

Dr. Kavita Sharma

Editor Speak

2Quarterly Newsletter

Message from Associate Editor

It is heartening to write a message for the second issue of the newsletter from the Department of Commerce. The present issue of the newsletter will take you down in the memory lane when the Faculty of Commerce and Business was inaugurated; the same faculty has grown manifold with the legacy of senior academicians and rigor of incumbents from time to time.

I would like to convey my heartfelt thanks to all faculty members and research scholars who participated in the second Annual Commerce Convention and made it a grand success. I would also like to acknowledge the hard work of more than three hundred teachers who contributed in the making of commerce syllabus for the four year degree programme. The past four months were full of academic interactions with Atharva and Conflux, the management festival, special lecture on “Capital Budgeting Practices: A Survey of Central and Eastern European Firms” by Prof Sunil. K. Mohanty from Department of Finance, Opus College of Business University of St. Thomas Minneapolis, United States of America and academic interaction with team CRISIL. I hope the enrichment would carry on in future too.

All the best for future endeavors.

Dr. Sunaina Kanojia

3Reflections: April-June 2013

From the Archives

Historically, Delhi School of Economics was set up in early 1950s with a separate Governing Body headed by the then Prime Minister Pt. Jawahar Lal Nehru on the pattern of London School of Economics.

Up to 1956-57, M.Com teaching was done at Shri Ram College of Commerce, and the overall academic responsibility was then with the Department of Economics. In mid-1950s, the UGC sanctioned one post of Professor of Commerce and two posts of Readers in Commerce at the Department of Economics under the Second Five Year Plan and after these appointments got through, the entire M.Com Teaching was shifted from SRCC to the Department of Economics. In the same manner Delhi School of Economics was also given responsibilities for enrolling students of M.A. and M.Com, collecting their fees, issuing them identity cards, library cards, union membership, and other extra-curricular activities. Total number of M.Com enrolment was divided between the SRCC and DSE on 50:50 bases. Professor of Commerce and two Readers in Commerce along with teachers from various colleges and some other teachers of the Department of Economics were providing all lecture work for M.Com. The First Professor of Commerce, Professor M.C. Shukla retired in 1965-66 and then senior most Reader in Commerce, Professor A.B. Ghosh, was appointed Professor of Commerce in 1966.

In 1967 separate Commerce Department was carved out from the Economics Department, and it functioned as part of the Faculty of Social Sciences till the creation of the present Faculty of Commerce and Business.

Almost from the very beginning the Directorship of Delhi School of Economics rotated among its four heads of the departments which was later on changed to senior-most non-Head Professor. Professor R.S. Nigam had worked for three terms as Director in his capacity as Head of the Department/senior-most Professor in the Department of Commerce. Professor A.B. Ghosh worked as the Director of Delhi School of Economics before Professor R.S. Nigam and Prof. L.S. Porwal, Prof. P.K. Ghosh, Prof. B.M. Lall Nigam and Prof. Y.P. Singh worked as Director of Delhi School of Economics after him.

(continued in the next edition.....)

At the initiative of founder president of Delhi University Commerce Teachers Association, Dr J P Sharma (now Dean Faculty) then HRD Minister Sh Arjun Singh at the Delhi School of Economics, to inaugurate the Faculty of Commerce & Business (DU) on Oct 18, 1993

4

Then HRD Minister Sh Arjun Singh at the Delhi School of Economics, inaugurating the Faculty of Commerce & Business (DU) on Oct 18, 1993 by cutting the ribbon, Seen in the picture founder president of Delhi University Commerce Teachers Association Dr J P Sharma (now Dean Faculty)


Role of Honour

Over the years, seventeen professors from the department served on rolling basis as 'Head of the Department'. Prof. A. B. Ghosh was given the honour of being the first 'Head'.

Heads: Department of Commerce

Period Name of Head of Department

1967-1973 Prof. A.B.Ghosh

1973-1977 Prof. R.S. Nigam

1977-1979 Prof. L.S. Porwal


1979-1982 Prof. B.M. Lall Nigam

1982-1983 Prof. P.K. Ghosh


1986-1989 Prof. R.K. Lele

1989-1992 Prof. S. Kumar

1992-1994 Prof. M.Y. Khan

1994-1995 Prof. V.S. Minocha

1995-1996 Prof. B.P. Singh

1996-1999 Prof. R.N. Goyale

1999-2002 Prof. Y.P. Singh

2002-2005 Prof. Sri Ram Khanna

2005-2006 Prof. Jawahar Lal

2007-2009 Prof. Sanjay K. Jain

2010-2012 Prof. K. V. Bhanu Murthy

2013 Prof. J.P. Sharma

5

Esteemed audiences at the formation of Faculty of Commerce and Business Studies

Reflections: April-June 2013

Role of Honour

Deans: Faculty of Commerce and Business Studies

Deanship is offered on alternate basis to the Head of Commerce Department and Head of Department of Financial Studies. Since the formation of Faculty of Commerce and Business in the year 1993, fifteen Professors have served so far as Dean of Faculty of Commerce and Business Studies.

Period Name of the Deans on Rolling Basis


1994-1995 Prof. V.S. Minocha

1995-1996 Prof. B.P. Singh


1998-1998 Prof. O.P. Gupta

1998-1999 Prof. Shirin Rathore

1999-1999 Prof. R.N. Goyale

1999-2002 Prof. Y.P. Singh

2002-2004 Prof. Muneesh Kumar

2004-2004 Prof. Shirin Rathore

2004-2005 Prof. Muneesh Kumar

2005-2005 Prof. Sri Ram Khanna

2005-2006 Prof. Jawahar Lal

2007-2008 Prof. Sanjay K. Jain

2008-2010 Prof. Sanjay Sehgal

2010-2011 Prof.I.M. Pandey

2011-2012 Prof. K.V. Bhanu Murthy

2013 Prof. J.P. Sharma

Sh. Arjun Singh after the ceremony interacting with Prof P B Sharma now Vice Chancellor, Dr. Kiran Walia now Minister in Smt Sheila Dixit Govt

Seen in the picture then vice chancellor DU prof Upendra Baxi, then chairman AICTE and former vice chairman UGC Prof S K Khanna, then member Lok sabha Sh J P Agarwal, and founder president of Delhi University Commerce Teachers Association Dr J P Sharma (now Dean Faculty)


M.Com Annual Commerce Convention

nd rdDepartment organized its 2 Annual Commerce Convention on 3 April, 2013 at Sir Shankar Lal Auditorium of University of Delhi. This year the Convention theme was: “Emerging Issues in Corporate Governance”. A day-long event witnessed its participation from different sections including students, teachers, principals from various colleges of the University of Delhi, and many more.

“Prof. Deepak Nayyar,” an Emeritus Professor of Economics at Jawaharlal Nehru University, New Delhi and Distinguished University Professor of Economics at the New School for Social Research, New York was the Chief Guest of the occasion and shared his views on the theme of the convention. Expert views on the theme were shared by the Head, Department of Commerce and Dean, Faculty of Commerce and Bus iness, Pro f. J. P. Sharma. Prof. R.S. Nigam, former Head of Commerce Department and Director, DSE was the Guest of Honour at the occasion.

Departmental Activities

Chief Guest, Former Economic Adviser to Govt of India and Ex Vice Chancellor Delhi University Prof. Deepak Nayyar lightening the lamp

Former Economic Adviser to Govt of India and Ex Vice Chancellor Delhi University Prof. Deepak Nayyar addressing the delegates and students at Second annual commerce convention

Prof. R.S. Nigam, Former Head and Director DSE, addressing the gathering


The session had nostalgic moments when the retired faculty of the department was honored by the Head & Dean, Prof. J. P. Sharma in recognition of their contribution to the growth and development of the department over a period of time.

The inaugural session witnessed a major landmark in the history of the Department of Commerce with the launch of its first ever quarterly newsletter “Reflections” featuring the highlights of various activities of the department.

The two Technical Sessions with the session themes 'Corporate Governance: Emerging Issues & Global Challenges' and 'Updation of India's Corporate Laws to the realities of 21st Century' were enriched with the information, facts and knowledge shared by the eminent speakers from industry, professional bodies like ICAI, IICA, and academia. The main aim of both the technical sessions was to enrich and enlighten the minds of academicians, research scholars and students toward fostering a culture for promoting good governance, facilitating effective participation of different stakeholders and validating India's

stCorporate Laws to the challenges of the 21 century.

The event was the initiative of students of M.Com under the able guidance of the faculty at Department of Commerce. In the valedictory session cert i f icates of participation and appreciation were given away to all the students who had put in their best efforts to make this event a big success.

A view of the audience during second annual commerce convention

Team of the M.Com student volunteers behind the successful event

Prof. J.P. Sharma, Head, Department of Commerce and Dean, Faculty of Commerce and Business sharing his expert views with the audience

Launch of the 'Reflections', Department's First quarterly newsletter



Four Year Undergraduate Program

The process of formulating Four Year Degree Course was initiated at the Department of Commerce in the month of March this year. At the department level the committee comprised of Prof. J. P. Sharma (Chairperson), Dr. Kavita Sharma (Convener) and Dr. Sunaina Kanojia (Co-Convener). The entire process was carried out on the pillars of democracy, having a participation of around 300 college teachers.

Various preparations were done at the departmental level to smoothen out the entire process. thThe first meeting of all Commerce Teacher-in-Charges (TICs) was convened on 25 March,

2013. The purpose of the meeting was to invite suggestions, resolutions and proposals from different colleges. Out of 57 TICs, 39 attended the meeting. Various suggestions and proposals were given by the TICs, which wereduly recorded.

thA further meeting of Extended Courses Committee was convened on 9 April, 2013. The composition of this committee was as follows:

a) All the nine Members of Courses Committee from Colleges thb) Twenty Teacher-In charges who participated in the meeting on 25 March, 2013

c) Seventeen Members of the Faculty of Commerce and Business

d) Seven Principals (Commerce Background)

e) Five Members of Task Force (Commerce Background)

f ) Four Elected Members of Academic Council (Commerce Background)

g) Three Faculty Members from the Department of Commerce

Out of 63 members committee, 56 members attended the meeting. The proposals and suggestions given by TICs in the previous meeting were put forth and discussed. A Sub Committee of Courses Committee having proportionate representation from all seven

thcategories of Extended Courses Committee was formed. Its meeting was convened on 12 April, 2013 to finalize the course titles for Discipline (DC) I, Discipline (DC) II and Applied Courses

th(AC).In the subsequent meeting convened on 13 April, 2013the titles for DCI, DCII and AC were finalized after considering the recommendations proposed by the TICs, members of Extended Courses Committee and Sub Committee of Courses Committee in the previous meetings. The members also decided that various working groups shall be formed to finalize the syllabus for various titles. Out of 17 members of the Sub Committee, 15 members attended the meeting.

th thOn 16 and 18 April, 2013, seventeen workinggroups (each comprising of ten members having specialization in the respective titles) met for finalization of the course content.The Head of the

thDepartment convened a meeting of departmental colleagueson 20 April, 2013 to give a final ndtouch to the courses before its placement in Committee of Courses. On 22 April, 2013, a

meeting of the Committee of Courses for the Under-Graduate Studies in Commerce (Excluding Hons.) and Committee of Courses for Under- Graduate Studies in Commerce (Hons, P.G., and Research) was held in the Room of HOD. The meeting was convened to consider the draft proposal of 4 year degree course.

ndOn 22 April, 2013, a meeting of the Committee of Courses for the Under-Graduate Studies in Commerce (Excluding Hons.) and Committee of Courses and Studies for the Under- Graduate Studies in Commerce (Hons, P.G., and Research) was held in the Room of HOD.The meeting was convened to consider the draft proposal of 4 year degree course.

thOn 25 April, 2013, a duly notified meeting of Faculty of Commerce and Business was convened to approve the course drafted by Department of Commerce.



Meeting of 63 member extended courses committee thheld on 9 April,2013 to draft the syllabus under

FYDP

13 member sub-committee meeting held on th12 April,2013 to finalise the course titles for DC I, DC II

and AC

Meeting of Faculty of commerce and Business in progress thon 25 April, 2013 to draft the syllabus under FYDP



MIB and MHROD Counseling

M.Com Entrance Test

Counseling and Orientation for Various courses

Ad-hoc Panel

Post- Graduate Examinations

1581 candidates applied for seeking admission in MIB and MHROD batch 2013-15, against total 146 seats (73 in each course). Out of the total applicants for the two courses, 515 were called for Group Discussion and Interview process. 369 candidates appeared for the Group Discussion and

th thInterview process, and all of them were called for the first counseling held on 14 and 15 May, 2013 in Department of Commerce.

The entrance test for admission to the Masters of Commerce (M.Com) batch 2013-15 was held on rd23 June 2013. Total of 6047 applications were received as against 4270 applications received last

year, having an approximate 42% increase over the previous year.

th th• M.Com Counseling was held in the Department of Commerce from 10 July to 13 July, 2013 to fill the sanctioned seats.

th• M.Phil Entrance: The combined entrance test for M.Phil and Ph.D. aspirants was held on 14 July, 2013.

th• Orientation Progarmme for MIB/MHROD and M.Com was held on 24 July, 2013 in the Department.

Applications for empanelment in the Ad-hoc panel for the post of Assistant Professors in Commerce department of various colleges of University of Delhi were invited in the month of April. Around 1550 applications were received. After extensive verification process, the draft Ad-hoc panel was uploaded on the Department and University website (www.commercedu.com and

thwww.du.ac.in) on 20 June, 2013. The committee meeting to address the grievances/complaints of the applicants was convened on 24-07-2013. The committee meeting was attended by the following members:

Prof. J.P. Sharma: Head of the DepartmentProf. Sanjay K. JainProf. K.V. Bhanu MurthyDr. Ajay Kr. SinghDr. Niti BhasinMs. Abha ShuklaDr. Sunaina Kanojia

The list of Ad-hoc panel facilitates the interview process of Assistant Professors (ad-hoc basis) in commerce department of various colleges.

Second and fourth Semester post graduate examinations for the courses Masters of Commerce (M.Com), Masters of International Business (MIB) and Masters of Human Resource and Organizational Development (MHROD) were successfully held in the Department of Commerce from

rd th3 May, 2013 to 28 May, 2013.The result of the same has been declared in the month of August.



A list of Ph.D. Scholars enrolled in the Department of Commerce, University of Delhi was compiled from the various available records and uploaded on the Department website in the month of May, 2013. It contains scholar's details such as: University Enrolment no., Name, Contact details, Date of Birth, Date of Registration, Research title, Supervisor name and Remarks. Research Scholars can verify their details from the website and in case of any discrepancy, one may contact Ms. Rashmi in the exam branch of the Department or at her email id: [email protected]

A list of M.Phil students enrolled in the Department of Commerce, University of Delhi has been compiled in the soft copy from the records available and also uploaded on Department website.

Ph.D. Register

M.Phil Register:

A brief summary of Number of M.Phil registrations from 1979 till date

Period of registration No. of Candidates registered*

1979-80 04

1981-1990 21

1991-2000 80

2001-2010 179

2011-till date 67

(*approximate figures)

Seniority List

A seniority list of Commerce teachers teaching across 57 colleges of University of Delhi was compiled for the year 2012-13. The list comprises of 1144 teachers teaching commerce subjects for the three courses, viz., B.Com (H), B.Com (Prog) and B.A. (Prog). 245 teachers are working as ad-hoc and guest faculty. The seniority list for 2013-14 is in the process of preparation.


A brief summary of Number of Ph.D. registrations from 1967 till date

Period of registration No. of Candidates registered

1967-1970 9

1971-1980 116

1981-1990 126

1991-2000 103

2001-June 2013 169


Lecture by Dr. Sunil K. Mohanty, St. Tomas University, USA

Dr. Sunil K. Mohanty, Professor of Finance, University of St. Thomas, USA visited the thDepartment of Commerce on 30 July, 2013 at 2.30 p.m. for a lecture in finance area. Dr.

Mohanty delivered a lecture on his research paper titled, “Capital Budgeting Practices: A survey of Central and Eastern European Firms”, in the seminar room of the Department. The Lecture was followed by an interaction round with the scholars of the Department of Commerce. The intellectual discourse that was showcased during the lecture by Dr. Mohanty was immensely applauded by the research scholars of the department.

Dr. Sunil K. Mohanty from USA addressing the research scholars of the Department of Commerce

Superannuation of Section Officer

Department organized a small get together function in the room of Head of the Department, on the occasion of superannuation of Section Officer Ms. Vineeta Chhabra. Head acknowledged the sincere efforts of the Section Officer in the office. All faculty members and office staff attended the same.


M.Com Placements

In-campus placements of M.Com students have gone up as compared to the last year. Total five companies visited the campus and after the process, 28 students were placed this year.

Company Profile offered Number of Students Placed

Deloitte Audit Analyst 17

Samsung Assistant Manager 1

Accenture Management Interns 2

Transweb Associate Consultant 2

Indian Institute of Finance Research Assistant/Management Trainee 6


Ph.D. Interviews

For Direct Ph.D., a total of 70 applications were received by the Department in the first round of admissions for the year 2013. On the basis of blind review of the synopsis submitted by the applicants, 21 candidates were shortlisted for interview, of which 19 candidates finally appeared before the interview board. Candidates were interviewed by the Departmental Research Committee

ndon 22 May 2013.

List of candidates selected for admission to Direct Ph.D

S.No. Name of the Candidate Title of Synopsis Supervisor

1 Ms. Pooja Sharma “Impact of Shareholder Activism In Prof. J. P. SharmaImproving Corporate Governance- AStudy”

2 Mr. Samir Lama “The Consequences of Foreign Direct Dr. Niti Bhasin &Investment in Multi- Brand Retail in Dr. C. S. SharmaUnorganised Sector: A Study in Indian Context”

3 Ms. Geetanjali Batra "Integrating Stakeholders Expectations Prof. S. K. Jain & In Corporate Reporting Framework: Dr. Ritesh Kr. SinghAn Empirical Investigation"

4 Ms. Shikha Sachdeva "Role of Whistleblower in Prevention Prof. J. P. Sharmaor Detection of Corporate Frauds- & Dr. SunainaA Study" Kanojia

5 Ms. Rinku Bhagat "Impact of Regional Trade Agreements Dr. Niti Bhasin &on Trade & Investment: A Study of Dr. Rajni Select South, East, and South-East Jagota Asian Economies”

6 Ms. Sonia Kamboj "Capital Account Convertibility and Prof. S. K. Jain &Growth- A Study of Select Emerging Dr. Sumati Economies" Verma

7 Ms. Neha Arora "Investment Strategies in the Bull and Dr. Sunaina Bear Market: A Study of Indian KanojiaInvestors"


CRISIL ResearchthA presentation on CRISIL Research database was organized in the Department on 17 May, 2013.

Experts from the CRISIL Research organization explained about economy, industry, and company wise statistical data, reports, charts, and articles that can be assessed from the CRISIL Research database. Research scholars and faculty members from the department attended the presentation, which was followed by an interaction session.

Students and Faculty members during CRISIL Presentation


Co-ordinators and Convenors

New Appointments

rdThe faculty members were designated as area coordinators/conveners w.e.f. 23 May, 2013

• Dr. Sunaina Kanojia– Coordinator M.Com, MHROD, and M.Phil

• Dr. Kavita Sharma –Coordinator MIB

• Dr. Ajay Kumar Singh - M.Phil Coordinator, Accounting Area

• Dr. Sunaina Kanojia, OBD Area

• Prof. Sanjay Jain –M.Phil Coordinator, Marketing Area

• Prof. K.V. Bhanu Murthy – M.Phil Coordinator, Research Methodology and Finance area

• Dr. Niti Bhasin –M.Phil Coordinator, International Business Area

• Dr. Kavita Sharma - DRC Convener

• Ms. Abha Shukla- Admission Coordinator (M.Com)

• Dr. Niti Bhasin - Admission Coordinator (MIB and MHROD)

• Dr. Kavita Sharma - PG and UG Examination Convener

Following new appointments have been made in the Department:

Dr. Gurcharan Sachdeva: Ad-hoc Faculty

Ms. Minny Narang: Ad-hoc Faculty

Mr. Chetan: Ad-hoc Faculty

Mr. Virender Rawat: Section Officer

Mr. Deepanshu Sharma: Computer Lab Assistant

Approvals for Infrastructural Changes

• Department has been given required permission from the University to have its own library for keeping dissertations/thesis submitted by the students of Ph.D., M.Phil, MIB and M.H.R.O.D. This initiative will benefit a large number of students with an easy access to research output of a large number of students.

• Quotations for the installation of CCTV cameras at appropriate locations in the Department were invited. University approved the same inviewoflotof secrecy work undertaken at the department level. Five CCTV cameras have now been installed in Examination room, Office of the Department, at the Entrance, corridor and on the stairs.

• After a long wait department has been given requisite permission for the construction of six toilets in the Department.

• Examination room has been renovated with the change in its flooring and installation of iron gates.



Students’ Activities

Atharva'13 (MIB Management Fest)

Master of International Business, Department of Commerce, Delhi School of Economics organized three-day Inter college management festival Atahrva'13, consisting

st rdmanagement events, Guest lectures and Panel Discussions during 21 -23 March, 2013.

The management events included Business Quiz, Case Studies, Equity wars, Business plan and Model WTO along with few informal events. Students from various colleges participated with lot of enthusiasm and exhibited team spirit. The colleges that participated in Atharva'13 were IIFT Delhi & Kolkata, DMS IIT Delhi, IIT Kharagpur, IMI Delhi, IMT Ghaziabad, MFC Department of Finance Studies, Sri Ram college of Commerce, Hyderabad Business School etc.

The department also organized a panel discussion on 'Education and Society'. The panelists were from academic as well as corporate background. Ms.MahimaKhanna (3rd Indian to have received the Stevenson Prize) gave a lecture on Indian Budget 2013 and its implication on Indian Economy. The main attraction was “MODEL WTO” in which the winner Ms.TarunimaMago won a sponsored trip to Geneva to attend MODEL WTO.

The students won several prizes. The participants were who lehear ted ly congratulated and the winners were awarded for keeping the college spirits and hoped they would continue in future too at higher levels.

MIB students participating in Business Games during MIB Management Fest 'Atharva'

Team of MIB student Volunteers of 'Atharva'


Conflux' 13 (HR Fest)

The Student Development Cell (SDC) of Master of Human Resource and Organization Development organized the HR Fest Conflux for the first time in February 2013, and was a grand success. The fest entailed niche events like 'Across the Table' in which the judges negotiated with the students and put them under extreme pressure which came out to be called the 'Star Event' by students and judges alike. Other events included 'Speak Your Heart Out' (extempore), 'Deal with It' (Dealing with extreme employee issues), 'Launch Pad (B-Plan)', 'Act upon It (Employer Branding)', 'Quizzitch'. The events were hosted by people with high corporate experience, and the team gave special thanks to Mr.Subodh Mullick for contributing so much for the cause. Overall the event saw a large participation from the colleges across the country and prizes worth Rs 40,000 were won!

Election of Student Bodies

MIB Course:

Election for the next set of office bearers of MIB for the academic year 2013-2014 was held on 16th April, 2013 through Closed Ballot process. The three posts were The President, The General Secretary and The Treasurer.

Eligibility Criteria for the nomination was:

• The students nominating must have a minimum aggregate of 60% in semester 1. • Also, the aggregate attendance of both the semesters must be over 60%.

Terms & Conditions:

• A student can nominate for 1 post only

• The new convener to be jointly decided by the existing team members of the junior batch and the existing conveners.

• The newly elected office bearers (after winning the election) will resign and vacate all positions from all cells and committees including Discipline Committee and the post of CR.

• Counting of Votes will be on-spot during the GBM and the declaration of result will take place on the same day.

Students and Judges negotiating during 'Conflux' (HR Fest)



• In Case of a tie for any of the posts (President, GS or the Treasurer), the existing office bearers will cast their votes. Since they will have 3 votes among them, this will act as a tie breaker.

• The counting of votes will be done in presence of the contestants

For the next set of office bearers elections were held on 16th April, 2013 through the Closed Ballot process. The three posts of office bearers were The President, The General Secretary and The Treasurer

Former General Secretary conducts the whole process (Mr. Zorawar Singh Bawa was holding post of General Secretory for 2011-13 batch)

Step1 – Nominations for the postStep 2 - Speech by the candidate on 'Why Me' Step 3 - Queries from the batchStep 4 - Final votingStep 5 - Result DeclarationStep 6 - Result submission to Course-coordinator

For the post of the President, there were two nominations viz. Mr. Vikas Rawat and Mr. Sathish Babu E

For the post of e General Secretory, there were two nominations viz. Mr. Manish Agrawal and Mr. Nitin Shivani

For the post of the Treasurer, there was only one nomination from Mr. Sumit Kumar

President Vikas Rawat

General Secretary Manish Agarwal

Treasurer Sumit Kumar

MIB Election:

Selection Procedure:

Office bearers:

Committees Committee Convener Number of Members (Excluding Convener)

PlaceCom Committee Rohit Katiyar 5

IISAC Committee Ashish Gupta 6

Discipline Committee Manvinder Singh 3

Marketing Cell Ashita Sharma 5

Media Cell Disha Khanna 6

Alumni Committee Garima Agarwal 7

Convention Committee Abhishek Taparia 7

Finance Cell Priyanka Singla 7

IB Cell Mansi Gupta 3

Quiz Cell Nikhil Bhatia 4

Literary & Debating Cell Anna Jain 3



MHROD Course

MHROD Selection Procedure:

Election of Student Bodies in MHROD:

Election for the next set of office bearers of MHROD for the academic year 2013-2014 was held on 22 August 2013 through Closed Ballot process. The two posts under consideration were The President and The Treasurer.

Eligibility Criteria for the nomination was:

• The students nominating must have a minimum aggregate of 75% in semester 1.

• Also, the aggregate attendance of both the semesters must be over 75%.

Terms & Conditions:

• 1 student can nominate for 1 post only.

• Counting of Votes was on-spot during the GBM and the declaration of result took place on the same day.

• In Case of a tie for any of the posts (President or the Treasurer), the existing office bearers will cast

their votes and this will act as a tie breaker.

• The counting of votes will be done in presence of the contestants.

• The newly elected office bearers (after winning the election) will resign and vacate all positions from all cells and committees including Discipline Committee and the post of CR.

• The new conveners are also to be selected for the committees which the new office bearers have vacated and are to be jointly decided by the existing team members of the junior batch and the existing conveners.

Former President conducts the whole process

Step 1 – Nominations for the post along with submission of a Statement of Purpose (SOP)

Step 2 - Speech by the candidate on 'Why Me' on the day of elections

Step 3 - Addressing queries from the batch

Step 4 - Final voting

Step 5 - Result Declaration

Step 6 - Result submission to the Course- Coordinator

For the post of President, Ms. Niti Lawas was selected.

For the post of Treasurer, Ms. Heena Narang was selected.

Committees Committee Convener Number of Members (Excluding Convener)

Academics Committee Varun Chouhan 2

C.R.T.(Corporate Relations Team) Indranil Majumder 5

Discipline Committee Kanika Pandey 4

Library Committee Abhishek Kumar 3

Media and People Relation Team Kartik Pant 5

Alumni Committee Avanee Kapoor 6

Team Convention Richa Sharma 6

Team E.S.A.C.(Entertainment Sports Sahil Saini 4 and Cultural Activities)

Team S.D.C.(Student Development Cell) Satvik Sharma 5



Adieu to Batch 2011-2013

M.ComthThe junior batch of M.Com organized a get together on 20 April, 2013to bid adieu and

wishing success to their seniors. Prof. J. P. Sharma, Head and Dean, along with other faculty members initiated the day's proceedings by lighting a lamp. He extended his best wishes to the students for their future, closely followed by M.Com Course Coordinator Ms. Sunaina Kanojia's best wishes.

The endearing faculty, much to the delight of the students, recalled all the nostalgic memories that have been created in the diaries of the students' hearts, experiences and days that have been made with united efforts of the students. Succeeding the reminiscent recital was the most awaited contest of choosing a few besotted titles like- best smile, best dressed, best personality, Mr. & Ms. Sophisticated, most popular, and so on. Interspersing the programme with tidbits of entertainment were various hilarious and artistic encounters by the amateur juniors. The day ended with a riveting congregation of dancing.

MIB

thThe farewell for the MIB Batch 2013 took place at DSE campus on 18 April, 2013, and was attended by the students and teachers cheering for the outgoing batch. The theme was, “STARSTRUCK (blue & silver)”. The junior batch gave a series of short performances and a special video was prepared by the IISAC team commemorating the 2 year journey of their senior batch. The juniors cheered for their seniors and presented each of them with a special title and a customized T-Shirt, with the names of the entire batch printed backwards.

The ceremony began with the cutting of cake by the course coordinator, Dr. Kavita Sharma.

“In all of these long years of education and experience, we've gained many additions to our band of students as well as endured the loss of a few classmates, some of whom we've

Faculty members felicitating winners during the M.Com farewellStudents having fun during M.Com farewell


.

Band, Baaja, Baraat! These are the words that get every foot tapping, all ladies smile and all the men enjoying the moments. With this as a themed agenda on board, the junior batch of MHROD-14 put forward a farewell event that was about to get all the seniors to dance on the 'band' and 'baaja' beats, along with the 'baraat' parting them away with a farewell.

The event started off with reviving the traditional tilak ceremony to welcome the seniors. The event also welcomed Dr. A. K. Singh (MHROD coordinator), and other faculty members. The farewell started off with a basic introduction, and cake- cutting ceremony. A series of performances were presented by the junior batch, which included song performances, a well plotted drama, a committee based dance with songs dedicated to each of the committees and one song for the entire senior batch. An award giving ceremony was also arranged with personality based tags to be given to each senior.

Then, the seniors presented “Na-Real Awards” along with the souvenirs consisting of quotes from their own batch mates. This was played on with a background of pictures of their batch mates and their times together. The event concluded with a trip down the memory lane with a video composed for the senior batch and with a chain of pictures that left every one reminiscing and some even shedding tears of departure.

MHROD

Faculty members and students present during MHROD farewell

Adieu to Batch 2011-2013

viewed as brothers and sisters,”

“We've all felt what it's like to bond, to come together with a select group of friends...but recently, I've discovered that in all the years of growing up together, we all made a kind of family, a family consisting of relationships we once shared and relationships we still have today.”

These were certain emotions that the outgoing batch expressed as words

Mr. Popular and Ms. Popular selected on the basis of their performance during the MIB farewell


R search Output e

Ph.D

Research Work Submitted during April- June, 2013 for the award of Ph.D. Degree

Under the able guidance of department faculty, five research scholars made thepre-submission of their research work for the award of Ph.D degree. Researches were taken up in Marketing, Finance and Economics area. All the pre-submissions were well attended and followed by the discussions related to research topic presented by the research scholar.

S. Name Title Supervisor Date of No. of Research No. Pre- Scholars/

Submission Faculty/Seminar/ StudentsViva-Voce Present

1. Ms. Sonali Jain “Assessment of Service Prof. Jawahar Lal Viva-Voce 32thQuality in Indian Banking held on 13

Sector: A Comparison of May, 2013

Indian and Foreign Banks”

2.. Ms.Rachna Jain “An Empirical Study of Prof. Jawahar Lal Pre- 36

International Listing of and Dr. Vanita Submission thStocks by Indian Tripathi held on 6

Companies” May, 2013

3. Ms. Anuja Mathur “Market Orientation Its Prof. S. K. Jain Pre- 27

antecedents and Submission thconsequences: A held on 6

Study of Business Firms” June, 2013

4. Ms. Abha Shukla “Banking Regulations and Prof. S. R. Khanna Pre 54

Stability: The Indian & Prof. I. M. SubmissionthExperience” Pandey held on 7

June, 2013

5. Ms. Nisha Arora “Examining the Ricardian Prof. K. V. Bhanu Pre- 61

Equivalence Proposition Murthy Submissionthwith respect to India” held on 11

June, 2013


M.Phil

Award of M.Phil Degree (April-June 2013)

In the area of Accounting, Finance, Corporate Governance, International Business and Marketing, thirteen scholars submitted their Dissertation for the award of M.Phil Degree. Nine scholars have been awarded degree vide notification no. M.Phil/Result/2012-13/18/5261

S. Name Title Supervisor Date of No. Viva-Voce/Pre-

Submission

1. Ms. Anjali Tuli “Qualified Institutional Placement of Ms. Abha Awarded

Equity in India: Informational Effect Shukla

and Firms, Choice of Seasonal Equity”

2. Ms. Vartika “Foreign Institutional Investment in Dr.Niti Bhasin Awarded

Khandelwal India: Trends & Determinants”

3. Ms. Chitra Rajoura “Foreign Exchange Reserves: Trends Prof. K. V. Awarded

and Determinants” Bhanu Murthy

4. Ms. Namita Narang “Trends and Determinants of Financial Prof. Y. P. Singh Awarded

Crisis: A Study of European Economies”

5. Ms. Neha Gupta “Determinants of Non-Performing Prof. Y. P. Singh Awarded

Assets in Indian banking System”

6. Mr. Samir Lama “A Study on the Impact of IFRS Prof. Jawahar Lal Awarded

Convergence in the Indian

Perspective”

7. Ms. Swati Khanna “Corporate Social Responsibility, Prof. J. P. Sharma Awarded

Corporate Governance and

Sustainability; Synergies and

Inter-relationship”

8. Ms. Monica Soin “Business Ethics and Corporate Prof. J. P. Sharma Awarded

Governance-Synergies and

Interrelationship”

9. Ms. Ritika Seth “Stock Market Performance And Macro Dr. Vanita Tripathi Awarded

Economic Factors: The Indian Experience”

10. Ms. Asha Rani “Investment by FIIs and Stock Market Dr. Sunaina 30-05-2013

Return: An Empirical Analysis” Kanojia

11. Mr. Vishal Pandey “Business Ethics and Corporate Prof. K.V. Bhanu 14-05-2013

Responsibility: A comparative study of Murthy

Multinational Companies and Domestic

Firms in India”

12. Ms. Shweta “Impact of job involvement and Dr. A. K. Singh 13-05-2013

organizational commitment on

organizational citizenship behavior and in

role job behavior”

13. Ms. Rimmi Jain “Customer Evaluation of Technology based Dr. Kavita Sharma 12-07-2013

self-service option in Indian Context”

R search Output e


Initiatives

Revival of Department Journal

The Department of Commerce has revived its journal and it was titled 'Journal of Commerce and Business Studies.' The journal has been allocated the ISSN number 2322-0767. The editorial board of the Journal comprises of:

Prof. J.P. Sharma (Editor-in-chief);

Dr. Kavita Sharma (Editor);

Dr. Sunaina Kanojia (Associate Editor);

Members of the Editorial Advisory Board are:

1. Prof. A.D. Amar, Professor of Management, Stillman School of Business,USA

2. Dr. Bhaskar Chatterjee, DG & CEO, The Indian Institute of Corporate Affairs, Govt. of India, New Delhi

3. Prof. R.K. Mishra, Director, Institute of Public Enterprise, Hyderabad

4. Mr. Nesar Ahmad, Immediate Past President, ICSI, New Delhi

5. Dr. J.D. Agarwal, Editor-in-Chief, Finance India, Chairman & Professor of Finance, Indian Institute of Finance

6. Prof. Rattan Sharma, Ph.DFormerly in IIM Lucknow, MDI Gurgaon, and S P Jain Centre, Mumbai

Call for papers

Department of Commerce formally set up as a separate entity in 1967, has imbibed the Delhi School of Economics tradition of exploring new frontiers of knowledge and innovation in academics. In its history spanning over three decades, it has redefined commerce education in the country and its rapid growth is reflected in the expansion as well as novelty of its academic programmes. To extend further the dissemination of knowledge, department wishes to publish its bi-annual journal titled Journal of Commerce and Business Studies.

Journal of Commerce and Business Studies - a peer reviewed journal – will address a wide range of research areas related to Management, Commerce, Economics, Business, Retailing, Finance, Marketing, Human Resource, Banking, Insurance, Corporate Governance and emerging paradigms as allied areas of knowledge. Academicians, professionals and researchers in all parentheses related to commerce and business are, therefore, invited to submit their research articles and reviews, validations and the impact of new emerging issues on business, and case studies for publication in the journal. For publications, the papers will be selected through double peer review process to ensure their originality, relevance, and credibility.

Journal has its ISSN number 2322-0767, and is published biannually.


Guidelines for Authors

Journal of Commerce and Business Studies (ISSN 2322-0767) is a peer reviewed bi-annual journal. The original unpublished manuscripts are welcomed for submission by both academicians and practitioners in the field of business and management.

The author should send the soft copy of the manuscript typed in MS Word at [email protected]

The manuscript should be accompanied by:

(i) Cover page containing title of the paper, author's name, designation, official address, contact address, phone/ fax numbers and e-mail address.

(ii) A non-mathematical abstract of about 150 words

(iii) An executive summary not exceeding 500 words

(iv) Four to five keywords

The recommended length of the article is 15 to 20 typed pages including figures and tables typed with 12-point font on “8.5 x 11” (A-4) size papers with 1.5 inch margin on all four sides.

References should be placed at the end of the manuscript. The list should mention only those sources cited in the text of the manuscript. Authors are requested to follow APA (6thed.) style developed by American Psychological Association. For more information in this regard author is requested to refer

American Psychological Association.(2009). Publication manual of the American thPsychological Association (6 ed.). Washington, DC: Author.

American Psychological Association. (2007). APA style guide to electronic references (PDF).

Washington, DC: Author. Available from www.apa.org/books/

The in-text references should include the author's name, and year of publication: 'Chapman (1983) has argued... Many questioned the equality of working Japanese women (Sano, 1983). Where an author has more than one publication in the same year, use alphabetical ordering to distinguish: '… for example, (Dabscheck, 1986b)

The reference list should be arranged in alphabetical order by the first author. The full reference in the reference list will be:

(i) For books: Fait, R.C., (1984). Specification, Estimation and Analysis of Macro Economic Models, Harvard University Press, Cambridge.

(ii) For articles within books: Mehra, Y.P. (1994). Wage Growth and the Inflation Process: An empirical Approach. In B.B. Rao (Ed.) Cointegration for the Applied Economist ( pp. 147-159). Basingstoke: Macmillan Press.

(iii) For articles in journals: Verhoef, P. (2003). Understanding the effect of customer relationship management efforts on customer retention and customer share development. Journal of Marketing. (October), Vol.67, 30-45.


Initiatives

(iv) Journal Article with DOI: Paivio, A. (1975). Perceptual comparisons through the mind's eye. Memory & Cognition, 3, 635-647. doi:10.1037/0278-6133.24.2.225

(v) Journal Article without DOI (when DOI is not available): Becker, L. J., & Seligman, C. (1981). Welcome to the energy crisis. Journal of Social Issues, 37(2), 1-7.

(vi) Hamfi, A. G. (1981). The funny nature of dogs. E-journal of Applied Psychology, 2(2), 38-48. Retrieved from http://ojs.lib.swin.edu.au/index.php/fdo

(vii) All tables, graphs, equations should be in black and not in colour. Wherever necessary, the source should be indicated at the bottom. All figures should be indicated in millions and billions. All tables and figures to be numbered: Table 1, Fig.1

Please refer to the resources indicated above for information on how to cite other kinds of sources like, websites, unpublished material etc.

section must have no heading. Subsequent headings to be set in 'bold' letters and shall not be lettered or numbered.

of four lines or more should be indented and types in single space. Shorter quotations should be included in the body of the text.

should be clearly typed. Check the layout of mathematical expressions especially alignment, centering, length of fraction lines and type, position and closure of brackets.

, which should be kept to a minimum, and should be numbered serially and included at the end of the article in double spaced typing.

must be numbered consequently and typed on separate page with font size 10 and 1.5 inch line spacing, following the reference section. Mark the table location within the text.

Authors are responsible for making sure that they have not duplicated an article already published or accepted. Authors should certify on the cover page of the manuscript that the material is not published, copyrighted, accepted or under review elsewhere. Authors using questionnaires should include a copy of the questionnaire along with the manuscript.

Authors can also send names of up to five potential references on a separate sheet. Please mention their area of expertise, designation and full mailing address. The suggested referees should not have been students or teachers of the author at any time. They should also not be co-authors on any work,

may be sent to the authors, if necessary, for correction. They should be carefully scrutinized and sent within two weeks after highlighting the changes incorporated in the text.

When a paper is accepted for publication author must submit a hard copy and soft copy of the final version.

Responsibility for the content of articles and communications, also for possible infringements of copyrights, remains entirely with the author(s) concerned. Upon acceptance of a paper, the author(s) will have transferred the copyright of the article to the '-The Journal of Commerce and Business Studies', Department of Commerce, University of Delhi.

The manuscript finally accepted for publication should be sent to 'The Editor, Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007, India'.

Introduction

Quotations

Mathematical notations

Footnotes

Tables

Proofs


Initiatives

A copy of the journal will be sent free of cost to each author, with 5 reprints of their papers.

Book review policy: While recent publications will attract detailed reviews, those published prior to two years of the present issue will be briefly reviewed or cited under 'Books Received'. The decision to review the books in detail or publish a brief review vests with the Editorial Board. If the books are not to topical interest, they will just be mentioned in the Books Received section, irrespective of the year of publication.

Copyright of all accepted papers will vest with the Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007, India. Permission to make digital/ hard copy of published work is granted without fee for personal or classroom use, otherwise a special permission is required to be obtained from the department.

Syllabus Revision of PG courses and M.Phil.

DU M.Com ALUMNI Association

The Department has initiated the process of syllabus revision of its Post-graduate courses [Masters of Commerce (M.Com), Masters of International Business (MIB) and Masters of Human Resources and Organizational Development (MHROD)] and M.Phil.

Delhi University M.Com Alumni Association is in the process of registration under the Registration of Societies Act of 1960.

1. Aims and Objectives:- The aims and objectives for which Society is established shall be as under:

• To establish and maintain contact amongst ex-students and teachers (both present and past) of the M.Com, Department of Commerce, University of Delhi, Delhi.

• To foster a feeling of brotherhood and friendship between the old students and faculty and to promote the spirit of mutual helpfulness amongst them.

• To suggest, secure and promote the interests of the Department, in all possible ways.

• To initiate and/or cooperate in any such enterprise pertaining to the promotion of the best interest of the Department.

• To take all such steps as may be necessary for the fulfillment of the aims and objects laid down herein above.

• To assist, needy members and the dependents of deceased members through a benevolent fund, contributed by the members and others.

Initiatives


2. Authorities of Alumni Association: - Under the General Body of the Association there shall be an Executive Committee consisting of a President, not more than two Vice-Presidents, a Secretary, a Joint Secretary, a Treasurer, other elected members not exceeding fifteen and the founding members of the Alumni Association.

3. Membership: - The membership of the Alumni Association shall be open to all the pass outs from the M.Com, Department of Commerce, and University of Delhi.

4. Subscription: -

• Life–membership: The fee for Life-membershipshall be Rupees fifteen hundred only payable at the time of admission.

• Associate membership: The fee for Associate membership shall be Rupees five hundred only which is for three consecutive years.

There may be fee revisions as and when required and decided by the Executive Committee.

All interested alumni can register themselves as a member of Delhi University M.Com Alumni Association by filling the alumni form and depositing the requisite fee at the office of the Department of Commerce, Delhi School of Economics. The form can also be downloaded from the Department's website (www.commercedu.com).

28

Presentation by Crisil.


Initiatives

Forthcoming Events

29

• Interviews for direct admission as well as through entrance test to Ph.D. course will take place in September, 2013. This will be on the basis of Ph.D. proposals submitted by the candidates.

• Erudition 2013 MIB-MHROD Annual Convention to be held on th th

September 27 and 28 at the Hotel Double Tree (managed by Hilton), Mayur Vihar, New Delhi.

• The Alumni meet for M.Com, MIB and MHROD shall be organized in the month of October.

• Student Exchange Programs will be initiated.

• Quarterly seminars will be held in the department catering to various functional areas.

• Seminar by renowned cardiologist Prof. Raman Puri on “How to Prevent Heart Attack” will be organized in the Department on August

st31 , 2013.

• MIB III Semester students visiting Jawahar Port, Mumbai during autumn break

• MIB students will organize A K Seth Memorial Debate

• Guest lectures by corporates

• Setting up of Departmental Library

• Conduct of House Examination

Reflections: April-June 2013

Faculty Corner

Prof. J. P. Sharma:

Invited by the Geetanjali Institute of Tech Studies, Udaipur, March 16, 2013-audience included faculty, Research Scholars, professionals, officials from Chamber of Commerce, Chairman, Geetanjali Group of Educational Institutions, Mr. J.P. Agarwal, Vice Chancellor of Geetanjali University Dr RK Nahar, Director GITS Group Mr. BL Khamesra, Head of FMS ML Sukhadia Univ., Prof PK Jain, President UCCI Mr. M K Taya, and over a dozen Media peopleand around 400 eminent people from Industry, academics and professionals attended the lecture

Prof. J.P. Sharma delivering a lecture on 'Effective Corporate Governance' at Geetanjali Institute of Technical Studies,Udaipur, March 16,2013

A view of the audience participating in the special lecture by Prof. J.P. Sharma at Geetanjali Institute of Technical Studies, Udaipur


Books Published

Conference/talk

Invited/Special Lecture delivered :

Prof. K.V. Bhanu Murthy

Dr. A. K. Singh

“Corporate Governance, Business Ethics and CSR for B.Com in the Semester Mode”, Ane Books stPvt Ltd, New Delhi (1 Edition) ISBN 9789382127758, July 2013.

“An Easy Approach to Business Laws under Four Year Course”, Ane Books Pvt Ltd, New Delhi, Joint Author, ISBN 9789382127734, July 2013.

• Key speaker at a seminar organized by the research scholars of the Department of Commerce, and delegates from Stillman School of Business, Seton Hall University, USA at Delhi School of Economics, DU, March 08, 2013.

• Main Speaker in the Panel Discussion organized by the India Policy Foundation, at Constitutional Club, New Delhi on “Corporate Scams”, Participants in the discussion include Mr. Paranjoy Guha Thakurta, and over 200 intellectuals, March 02, 2013.

1) Delhi College of Arts and Commerce, University of Delhi, “Companies Bill, 2012”. April 05, 2013-Participants over 100 under graduates, and the teachers.

2) Dayal Singh College (Delhi University), “Current Issues In The Corporate Sector”, March 07, 2013. Participants over 100 under graduates, teachers and the principal.

3) Rajdhani College, University of Delhi, “Issues in Corporate Sector”, March 06, 2013-Participants over 200 under graduates, teachers and the principal.

4) Sri Guru Gobind Singh College of Commerce, University of Delhi, “Companies Bill, 2012”. March 04, 2013

5) PGDAV College, University of Delhi, “Highlights of Companies Bill 2012”, March 01, 2013-Participants over 200 under graduates, teachers and the principal.

• Bhanu Murthy K V and Phool Chand (2013) “Growth and Instability in India`s Current Account Balance: A Policy Period Analysis”, Conference Papers, World Finance Conference, Cyprus.

• Bhanu Murthy K V, Vanita Tripathi and Joao Vieito (2013) “Financial Crisis and Contagion in Stock Markets: Evidence from G-20 Countries”, Conference Papers, World Finance Conference, Cyprus.

1. Singh, Ajay Kr. and Jain, Sonal (2013) Employer Branding: A tool for motivating and retaining employees, Indian Journal of Current Trends in Management Sciences, April, Vol. VI, No. 1, pp. 1-14.

Published as a Lead Article. This paper got the best paper award in a conference.

Publications


Faculty Corner

2. Singh, Ajay Kumar and Kumar, Vibhash (2013) Spirituality and Leadership, published in Proceedings of National Conference on Transformational Leadership and Beyond, ed. Sharma, C. S. and Singh, R. K. (2013) Excel India Publishers, New Delhi, pp. 14-27. ISBN – 978-93-82880-26-4.

3. Singh, A. K. (2013) Indigo and Kingfisher Airlines: A Case Study, Delhi Business Review: An International Journal of SHTR, v14, n1. p. 123-125.

4. Singh, A. K. and Popli, G. S. (2013) Unraveling Mysteries of Life: Modern Science and Ancient Wisdom, by Gauri Shankar Gupta, Star Publications Pvt. Ltd., New Delhi, 2012 Delhi Business Review, Vol. 14, No. 1, pp. 127-128.

5. Singh A.K. (2013) Editorial Review, Delhi Business Review: An International Journal of SHTR, Vol.14, No.1

6. Singh, A. K. (2013) Transitioning of Global Economy: Vision 2050, presented in the XIV Annual International Conference at Almada, Lisbon, Portugal, on June 21 to 22, 2013. Received the Best Paper

7. Singh, A. K. (2013) Sustainable Development and Business: Vision 2050, presented in the International Conference on Business Management Practices at Slovak University of Agriculture at Nitra on June 6 to 7, 2013.

8. Singh, A. K. (2013) Regional Development and Innovation practices and policies in India, presented in the International Conference at Firat University, Elazig, Turkey on May 16 to 17, 2013.

9. Excellent Cooperation Partner of University of Szeged conferred by the Dean Faculty of Engineering on May 30, 2013 at University of Szeged, Szeged, Hungary.

10. Chaired a technical session in the International Conference on Business Management Practices at Slovak University of Agriculture at Nitra, Slovakia on June 6 to 7, 2013.

11. Delivered Key Note address in a session in the International Conference on May 16 – 17, 2013 at FiratUnivesity, Elazig, Turkey.

Papers Presented in International Conferences and are under publication

Award in the technical session

Professional/Academic Distinctions

Dr. Ajay Kr Singh receiving the award from DG

32

Faculty Corner


International Programmes Attended

National Programme Attended

Publication:

Book Published:

12. Attended Spiritual Retreat on “World Philosophy and Religion” from May 18 to 26, 2013 at Greece with Master Del Pe as the Principal Trainer.

13. Attended the Rotary International Convention from June 23 to 26, 2013 at Lisbon, Portugal.

nd14. Participated in the 2 Annual Commerce Convention held on April 3, 2013 on “Emerging Issues in Corporate Governance” organised by Department of Commerce, Delhi School of Economics, University of Delhi, Delhi- 110007.

1. Participated in Second Biennial Sheth Emerging Scholars Faculty Consortium held on July 16, 2013 at Monash Law Chambers, Melbourne, Australia. The event was announced by Academy of Marketing Science. In all 15 scholars participated from different parts of the world in the consortium.

2. Participated in World Marketing Congress held th thfrom 17 - 19 July, 2013 in Melbourne, Australia

Paper titled 'ENVIRONMENTAL CONSCIOUSNESS, ITS ANTECEDENTS AND BEHAVIOURAL OUTCOMES' published in Journal of Indian Business Research, Vol.5 No. 3, 2013 (pp198-214), and can be viewed online at http://www.emeraldinsight.com/fwd.htm?id=aob&ini=aob&doi=10.1108/JIBR-10-2012-0080. Coauthored

Research Publications:

1. Market Efficiency in G-20 Countries: The Paradox of Financial Crisis” in Annals of Financial Economics( ISSN: 2010-4960) Vol. 8 No. 1 ( June 2013) pg 1-27 ( Co authors- Joao Paulo Vieto, KV Bhanu Murthy).

"EASY APPROACH TO BUSINESS LAWS: DU FOUR YEAR COURSE SEM-1", 2013, Ane Books Pvt. Ltd., ISBN: 9789382127734, pages: 624: Co-Authored.

Dr. Kavita Sharma

Dr. Vanita Tripathi

Dr. Sunaina Kanojia

Dr. Kavita Sharma receiving her certificate from Consortium Chair


Faculty Corner

Mr. Sameer Lama

1. Mr. SameerLama was a panel speaker and delivered a lecture on “Career in Academics, Publication and Research: Issues and Prospects”, at the School of

thInternational Studies, Jawaharlal Nehru University, New Delhi on 14 April, 2013. The founding Vice-Chancellor of Sikkim Central University and an eminent professor of SIS, JNU, Prof. Mahendra P. Lama was the moderator of the session.

2. Mr. Sameer Lama was invited to deliver a special lecture to the Tibetan Refugee Students' by a Tibetan NGO- “ENVISION” on the different career prospects and admission criteria in Delhi University for the Tibetan students. The seminar was held on May 29-30, 2013 at India International Centre, Lodhi Road, New Delhi.

Sameer Lama delivering lecture in a seminar for Tibetan Students at India International Centre, Lodhi Road, New Delhi

Sameer Lama addressing the gathering at SIS, Jawaharlal Nehru thUniversity on 14 April, 2013


Faculty Corner

Reforms in the Department

Changes in DRC Meeting

Junior Research Fellowship (J.R.F.) Interpretation

Maximum Number of Students under a Faculty

ndDepartmental Research Committee in its meeting held on 22 May, 2013 introduced certain reforms:

• For the purpose of Ph.D. advisory meeting it was decided that progress report form should be prepared for the Ph.D. candidates on the basis of existing format of Ph.D. record book.

• In order to revise the current process of direct Ph.D., a committee comprising Dr. Kavita Sharma, Ms. Abha Shukla, and Dr. Sunaina Kanojia was constituted. This committee will submit the details for discussion for the next meeting after studying the process followed in the Faculty of Management Studies and Department of Financial Studies.

• It was discussed and decided in the meeting to continue with the existing practice of having eligible college teachers for Ph.D. supervision.

rdIt was decided in the DRC meeting held on 23 May, 2013 that for the purpose of counting seats under faculty members, interpretation of J.R.F. shall be taken as the actual J.R.F. (i.e. who are drawing J.R.F.).

On the advice of the V.C. nominee and after detailed discussion, it was unanimously decided in the DRC meeting that maximum limit of number of J.R.F. students under each Professor, Associate Professor, and Assistant Professor should not be more than 50% of the prescribed limit given under university research guidelines in Ordinance VI B (in case of Professor: 8, Associate Professor: 6 and Assistant Professor: 4).

Accordingly, maximum number of J.R.F. students registered under the faculty was decided to be as follows:

Professor- 4; Associate Professor - 3; Assistant Professor – 2.


News Highlights

Narayana Murthy returns to Infosys

Gold imports on a rise

Air Asia to enter Indian aviation sector

• Infosys co-founder Mr. N.R. Narayana Murthy came out of his 2 year retirement as the Board of Directors appointed him as Executive Chairman of the Board and Additional Director effective from June 1, 2013.

• Mr. Murthy replaced Mr. K V Kamath who became Lead Independent Director.

• The industry welcomed the appointment of Murthy as Chairman as is reflected in Infosys share price closing 4% higher on June 3 adding Rs. 6107 crores to Infosys's market value.

• Mr. Murthy's son Dr. Rohan Murty joined him as his executive assistant. This is a contradiction to what Murthy once held that no family member of a founder can ever come to work at Infosys.

• On June 13 making his first strategic move, Mr. Murthy hiked the wages of the company's 1.5 lakh employees. Providing a hike of upto 8% Murthy has reduced anxiety and provided stabilization to the organization.

• According to Mr.Murthy it will take at least 36 months in rebuilding Infosys to a desirable status and for that he has signaled at the return of top executives to Infosys who left the company for other opportunities in the past.

• India's trade deficit widened to $20.1bn for May 2013 from $16.9bn in 2012 on account of increase in volume of Gold imports.

• The Gold imports surged to near 90% to $8.4bn during the month of May.

• The increased gold imports have led to an increase in Current Account Deficit(CAD) rdof India, measured at 6.7% of GDP in 3 quarter of 2012-2013.

• The widened CAD has exerted pressure on Indian Rupee ensuring that RBI did not lower the key policy rates.

• The Government has raised the import duty on Gold to 8%, third increase in less than 2 years to curb the imports of gold banks and other agencies.

• The increased import duty on Gold can led to a 40% increase in smuggling of gold. The finance minister has repeatedly taken measures to control the imports of gold including a loose comment suggesting people not to buy gold for next 1 year.

• Malaysia based airlines - Air Asia, one of the pioneers in low cost air travel in Asia has sought approval to start services in India later this year.

• It has formed a joint venture with Tata Sons and Telestra Tradeplace of Arun Bhatia in a 49:30:21 holding.


• In an announcement in May'2013AirAsia named Mr. MittuChandilya as the CEO of its Indian venture.

• On June 16 Air Asia announced Mr. Ratan Tata as the advisor of its Indian venture and promised 'Nano' airfares once it starts its operations in India.

• Air Asia will be operating from Chennai with a focus on Tier –II and Tier – III cities replicating its business model existent in places like Malaysia, Thailand, Indonesia, Philippines and Japan.

• On June 17 Air Asia assigned Mr. S. Ramadorai as its Chairman to complete its entire top management team.

• Mr. Ramadorai(former chief executive at Tata Consultancy Services) being the fourth person from the Tatas to hold a position in airline joint venture after Mr. Ratan Tata as chief advisor,

• Mr. R. Venkataraman (former executive assistant to Ratan Tata) and Mr. Bharat Vasani (chief legal counsel of the Tata Group), who joined as directors on the board.

• Decline in the food prices and vegetables dragged down inflation (WPI) rates in April to 4.89%.

• The decline in inflation rate brought it to a 3-year low; it is lowest level of inflation since Nov 2009 when inflation was at 4.78%.

• The retail inflation (CPI) for the same month came down to 9.39%, down to single digits after many months indicating the decline in inflation rates.

• The inflation (WPI) further declined to 4.7%, lowest in 42 months in May'2013 increasing the hopes of policy rates cut in the upcoming RBI meetings.

• The significant decline in inflation rates not only helped easing of prices for common people but also raised hopes for a rate cut by RBI on June 17, 2013. Sadly, due to significant weakness in Rupee and risks from the Current Account Deficit RBI did not cut any policy rates.

• To promote India as an investment destination, the finance ministry has proposed hiking FDI ceiling in various sectors.

• The review is likely to come up before the Union Cabinet in third week of July.

• A committee headed by economic affairs secretary ArvindMayaram has recommended that FDI limit be raised to 49% in sectors like single-brand retail, existing pharma companies, power and commodity exchanges, PSU banks, tea plantation, print media, PSU petroleum refinery, asset reconstruction companies, stock exchanges, insurance, depositories and clearing corporations and satellite services through automatic route.

• The panel has suggested that FDI in defence be raised to 49% under the

Drop in inflation rates in April and May, 2013

FDI Cap review

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government approval route, from 26% at present.

• It has proposed to increase FDI cap to 74% in the multi-brand retail trading under the government approval route.

• The committee has suggested 100% FDI in civil aviation sector for non-scheduled air transport services under the automatic route as against the current 49%.

• The Government is keen on increasing FDI ceilings to attract more overseas investments and finance the widening current account deficit (CAD).

Indian currency (INR) has depreciated close to 22% in the last one year. The persistent decline in rupee is a cause of concern. Depreciation leads to imports becoming costlier which is a worry for India as it meets most of its oil demand via imports. Apart from oil, prices of other imported commodities like

metals, gold etc. will also rise pushing overall inflation higher. Even if prices of global oil and commodities decline, the Indian consumers might not benefit as depreciation will negate the impact. The depreciating rupee will add further pressure on the overall domestic inflation and since India is

structurally an import intensive country, as reflected in the high and persistent current account deficits month after month, the domestic costs will rise on account of rupee depreciation. Exchange rate risk also drives away foreign investors which in turn depreciates the local currency. Indian Rupee is currently caught in this vicious cycle; it will have to find a stable level to regain investors' confidence

The depreciating rupee has serious effects on the external debt figures of the nation. Owing to uncertainty prevailing in Europe and slump in international market, investors prefer to stay away from risky investments (flight to security). This has significantly affected the portfolio investment in India. Credit rating agency's downgrade of India to BBB- with a negative outlook, the last of the investment grade has not helped the cause. Any outward flow of currency or decrease in investment will put a downward pressure on exchange rate. This Global uncertainty has adversely impacted the domestic factors (current and capital account etc.) and caused the depreciation of rupee. Key policy reforms like Direct Tax Code (DTC) and Goods and Service Tax (GST) have been in the pipe line for years. A retrospective tax law (GAAR) has already earned a lot of flak from the business community. Attempts are being made to control the subsidy bills but fiscal deficit continues to hover around 5% of GDP. The government announced FDI in retail but had to hold back amidst huge furore from both opposition and allies. This has further made investors sentiment negative over the Indian economy. INR is not the only currency depreciating. Except for China almost every developing country has shown a deprecating pressure on their currency. The FII investment data for 2012 shows that India had huge capital inflows for the first two months and it started declining only after the euro zone crisis reared its head again. This shows that the absence of reforms alone cannot account for the sheer magnitude of the slowdown. The fact that we have had a comparable slowdown only at the peak of the subprime crisis does suggest that external conditions must be primarily responsible this time as well.

Depreciating Rupee

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The rupee fell to a record low of 60.7685 to the dollar on July 31, breaching past its all-time low of 59.9850 touched on June 20. This was triggered after the Federal Reserve signalled a tapering of its monetary stimulus later this year. The effect of U.S. Federal Reserve Chairman Ben Bernanke's confirmation highlights the India's dependence on foreign capital inflows to fund its current account deficit.

The Union Budget of 2013-14 held special importance this year as it was announced in the backdrop of a challenging macroeconomic environment where India had achieved its lowest GDP growth in a decade. Characterized with a depressed global economic outlook and prevalence of domestic policy bottlenecks, the year started with news of the previous fiscal's fourth quarter GDP having dropped to 5.5%. That coupled with low growth, macro-economic issues such as high fiscal deficit, expansionary subsidies and worsening current account balance has added to the slowdown. Expectations were therefore high as to the path the Finance Minister will take in guiding the Indian economy to recovery.

Though there were no high profile announcements or big recovery plans outlined, the Finance Minister did not disappoint. He acknowledged the pain points in the economy and recognized that to boost industrial sector growth, proactive actions would be needed. Policy announcements on creating additional industrial corridors and promoting micro, small and medium enterprises through SIDBI are welcome. However, often we have seen that such policy announcements need strong ground level implementation. A key positive aspect of the Budget was in respect to commitment shown towards the

fiscal consolidation plan. Despite the fact that planned expenditure has increased by almost 30% from the last year, the Finance Minister continued to target fiscal deficit of 4.8% in 2013-14. The Finance minister also announced that fiscal deficit for 2012-13 has been limited to 5.2%. This is clearly due to the focused measures undertaken in the second half of the year in cutting expenditure. With lower than estimated tax collections, meeting fiscal deficit targets was always going to be difficult. The Finance Minister needs to be lauded on this.

Coming to the direct tax policies, not many amendments were suggested in the budget. With regard to GAAR, announcements made by the Finance Minister in January 2013 have been partially incorporated in the legislation. This is expected to provide some level of assurance. On personal taxes, a surcharge of 10% has been introduced on individuals with taxable income in excess of Rs. 1 crore for a period of one year. An important amendment relates to tax on royalty and fees for technical services to non-residents which stands increased from 10% to 25%. Showing his commitment to infrastructure, the Finance Minister has extended the tax holiday in the power sector by one year for commencement of operations. As a matter of comfort, the Finance Minister reiterated his commitment to the Direct Taxes Code by mentioning that the Bill will be tabled in parliament before the end of the budget session. On indirect taxes, the peak rate of customs duty, excise duty and service tax have remained unchanged though reduction has been provided on basic customs duty related to certain articles. The scope of the negative list has been proposed to be expanded to include courses offered by institutes affiliated to the State Council for Vocational Training and Testing activities in relation to agricultural produce. On the service tax front, exemptions related to certain services have been curtailed.

The Union Budget: 2013-14

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List of Gazetted Holiday

S. No. Holiday Date Day

1. Milad-Un-Nabi or Id-E-Milad January 25 Friday(Birthday of Prophet Mohammad)

2. Republic Day January 26 Saturday

3. Holi March 27 Wednesday

4. Good Friday March 29 Friday

5. Ram Navami April 19 Friday

6. Mahavir Jayanti April 24 Wednesday

7. Buddha Purnima May 25 Saturday

8. Idu’l Fitr August 09 Friday

9. Independence Day August 15 Thursday

10. Janmashtami August 28 Wednesday

11. Mahatma Gandhi’s (Birthday) October 02 Wednesday

12. Dussehra October 13 Sunday

13. Id-ul-Zuha (Bakrid) October 16 Wednesday

14. Diwali (Deepavali) November 03 Sunday

15. Muharram November 14 Thursday

16. Guru Nanak’s B’day November 17 Sunday

17. Christmas Day December 25 Wednesday

List of Restricted Holiday


1. New Year’s Day January 01 Tuesday

2. Makar Sankranti January 13 Sunday

3. Pongal January 14 Monday

4. Guru Gobind Singh’s Birthday January 18 Friday

5. Sri Panchami February 14 Thursday

6. Basanta Panchami February 15 Friday

7. Shivaji Jayanti February 19 Tuesday

8. Guru Ravidas’s Birthday February 25 Monday

9. Swami Dayananda Saraswati March 07 ThursdayJayanti

10. Maha Shivratri March 10 Sunday

11. Holika Dahan March 26 Tuesday

12. Easter Sunday March 31 Sunday

continued.........

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13. Chaitra Sukladi/ Gudi Padava/ April 11 ThursdayUgadi/ Cheti Chand

14. Vaisakhi April 13 Saturday

15. Vishu April 13 Saturday

16. Mesadi April 14 Sunday

17. Vaisakhadi (Bengal)/ Bahag April 15 MondayBihu (Assam)

18. Guru Rabindranath’s Birthday May 09 Thursday

19. Hazarat Ali’s Birthday May 24 Friday

20. Rath Yatra July 10 Wednesday

21. Jamat-Ul-Vida August 02 Friday

22. Parsi New Year’s Day August 18 Sunday

23. Raksha Bandhan August 20 Tuesday

24. Vinayaka Chaturthi/ September 09 MondayGanesh Chaturthi

25. Onam September 16 Monday

26. Dussehra (Maha Saptami) October 11 Friday(Additional)

27. Dussehra (Maha Ashtami) October 12 Saturday(Additional)

28. Dussehra (Maha Navmi) October 13 Sunday

29. Maharishi Valmiki’s Birthday October 18 Friday

30. Karaka Chaturthi (Karva Chouth) October 22 Tuesday

31. Deepavali (South India) November 02 Saturday

32. Naraka Chaturdasi November 02 Saturday

33. Govardhan Puja November 03 Sunday

34. Bhai Duj November 05 Tuesday

35. Pratihar Sashthi or Surya Sashthi November 08 Friday(Chhat Puja)

36. Guru Teg Bahadur’s Martyrdom November 24 SundayDay

37. Christmas Eve December 24 Tuesday

List of Restricted Holiday

Department of CommerceDelhi School of Economics

University of Delhi, Delhi-110007

reflections april-june, 2013

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