Study of Financial Management and Funding Practices Adopted by Private Unaided Higher Educational Institutions
Share of youth population dominates the current demographic profile of India. Education and particularly higher education will play a critical role in shaping not only the careers of the youth population, but also impact the prospect of the entire nation. The Government of India encourages the private sector to play an industrious role in education. However, private unaided educational institutions (PUEIs) are struggling with some major issues with reference to financial management practices and funding. This study is an attempt to capture an insight into the current financial management practices of PUEIs particularly in the semi-urban and rural areas of India. Moreover, study exposes the ground level problems confronted by PUEIs in the long-term as well as short-term financing and also determines the problems confronted by the bankers in financing these PUEIs. Conclusively, study approaches out with practical solutions to solve both long-term as well as short-term financial problems. Read more...
A Comprehensive Contemporary Safety Management Systems Framework Including Planning and Monitoring Guidance
Various literature references discuss the value and the components of Safety Management Systems (SMS), which comprise the contemporary collection of management policies, procedures and practices that may ensure a safe working environment and contribute to overall organisational performance. Moreover, comprising a system, SMS must ideally follow the principles of Quality Management, and especially during its initial operation, the planning and control procedures must be appropriately addressed. In the frame of a research regarding the transition of an aviation organisation safety program to an SMS, the combination of safety/quality literature and professional experience collected through interviews led to the development of an inclusive SMS framework. The specific SMS scheme encompasses the safety elements and sub-elements referred in literature and suggests explicit safety planning and assessment methods and tools. Moreover, during the interviews, various comments and remarks were recorded concerning specific safety topics, which complement the SMS framework produced. The SMS tool developed may comprise a basis for enriching the existing frameworks introduced by international and state authorities, for developing a new SMS in an organisation or for conducting a gap analysis/performance assessment regarding existing safety programs and SMS schemes. Read more...
In this study, an endeavour is made to analyse the impacts of tax policy on market risk for the listed firms in the electric power industry of Vietnam during and after the period 2007-2009. In a sample size of 20 listed firms in the electric power industry, with raw stock data from Vietnam Ho Chi Minh as well as Ha Noi stock exchange, study determines beta mean values less than 0,5 that are admissible. Further, in three scenarios of tax rates (i.e. 20%, 25%, and 28%), this study recognise that the risk dispersion in the research sample is minimal, which is evidenced by beta var results. By modulating tax rates in three scenarios, the study also concluded that both equity and asset beta mean values have a positive relationship with the increasing levels of tax rates. Decisively, this paper acknowledges the question of how much the risk dispersion is in the electric power industry of Vietnam in these three tax rate scenarios. Read more...