Faculty Publications
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Publications by NITK Faculty
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Item Insider trading in India - Regulatory enforcement(Emerald Publishing, 2017) Manchikatla, A.K.; Rajesh Acharya, R.H.Purpose: The purpose of this paper is to study the effectiveness of insider trading enforcement actions in India and international dimensions. Design/methodology/approach: The research is based on the insider trading regulations and amendments made during the period 1992-2015. Findings: The notable observation of the study is the dearth of insider trading conviction and the paucity of prosecution for insider trading offences in India. It is difficult to resist the conclusion that surveillance and enforcement matter more than the drafting of the relevant statutes and regulations in emerging markets. Whereas, developed countries have a better record of prosecution than emerging markets. Research limitations/implications: Future research may explore the factors that hinder effective regulation and recommend new methods to increase the impact of Securities and Exchange Board of India insider trading regulation. Originality/value: The current paper presents guidance for the foreign institutional investors, regulators and market participants on insider trading regulation and prosecution in India. © Emerald Publishing Limited 1359-0790.Item Assessing the extent and intensity of energy poverty using Multidimensional Energy Poverty Index: Empirical evidence from households in India(Elsevier Ltd, 2017) Sadath, A.C.; Rajesh Acharya, R.H.In this paper, we have made a comprehensive assessment of the extent and various socio-economic implications of energy poverty in India. Amartya Sens's capability approach to development underpins the analysis of household-level data taken from the India Human Development Survey-II (IHDS-II), 2011-12 using the Multidimensional Energy Poverty Index (MEPI). The overall results show that energy poverty is widespread in India and the existence of energy poverty also coincides with the other forms of deprivations such as income poverty and social backwardness. For example, Dalits (Lower Caste) and Adivasis (Tribal) are found to be extremely energy poor compared to the other social groups in India. The results also reveal that it is the responsibility of women to manage the domestic chores such as collection of firewood and making of dung cake in traditional Indian households. Inefficient use of such biomass fuels is found to cause health hazards. © 2017 Elsevier LtdItem Implications of energy subsidy reform in India(Elsevier Ltd, 2017) Rajesh Acharya, R.H.; Sadath, A.C.This paper analyses welfare impact of energy subsidy reform in India based on the data from 1970? 71 to 2014? 15. To this end, Auto Regressive Distributed Lag (ARDL) model and Error Correction Model (ECM) have been estimated to quantify the short-run and long-run price and the income elasticity of various energy products. The results show that the price elasticity of demand for all fossil fuels is low, but the respective income elasticity is higher. Therefore, an increase in the general price level caused by the subsidy reform will lead to the erosion of real income and will have related welfare implications in India. The results also reveal that energy expenditure will obviously increase and hence energy consumption will decline depending upon the extent of the withdrawal of subsidy. Therefore, policy makers in India, while undertaking further reforms, must ensure that the subsidy reaches to those who truly deserve, so that the socioeconomic casualty of reforms can be minimized along with achieving fiscal goals. © 2016 Elsevier LtdItem An analysis of pricing efficiency of exchange traded funds in India using ARDL bounds test approach(Inderscience Publishers, 2021) Chandrasekaran, B.; Rajesh Acharya, R.H.This paper analyses the pricing efficiency of exchange traded funds (ETFs) in India. In order to achieve the objective, the study employs the autoregressive distributed lag (ARDL) model - bounds test approach. The study includes 14 equity ETFs for the time period from the inception date of each ETF to December 2016. An attempt has been made to establish long-run relationship between the closing price of ETFs and closing index values using ARDL model. The study also analyses the research question in the presence of single and multiple structural breaks. Empirical results of the study show that the absolute pricing deviation is relatively small in the case of ETFs. Most of the ETFs have long-run relationship with the underlying index. The study confirms structural breaks in the ETF closing price time series. With the introduction of structural breaks, increase in the size of statistically significant long-run coefficients indicates an improvement in the speed of correction to the equilibrium level. © © 2021 Inderscience Enterprises Ltd.Item Trends in Selected Birth Defects among Parents from Below Poverty Line Population in Karnataka during 2010-2020(Wolters Kluwer Medknow Publications, 2022) Nanjunda, D.C.; Jyothi Lakshmi, S.; Rajesh Acharya, R.H.; Mishra, A.K.The aim of the study is to reveal the common birth defects among parents of newborns belonging to the below poverty line (BPL) category in Karnataka state (South India) by analyzing Suvarna Arogya Suraksha Trust data. In the last 10 years, 3672 kids in BPL families have been born with various birth abnormalities. It is found that 50.3% of newborns have anorectal malformations, 33.1% have hypospadias, 6.0% have diaphragmatic hernia, 5.1% have esophageal atresia, and 2.8% have intestinal atresia and obstruct. As a parent's age rises, the likelihood of having a child with birth abnormalities raise as well, particularly anorectal malformations than diaphragmatic hernia. Male newborns have a higher risk of birth defects. We hypothesized that poverty, material deprivation, and low socioeconomic profile throughout the life course among the BPL community could be some of the key reasons for poor maternal health care and related neonatal outcomes. © 2022 Indian Journal of Public Health | Published by Wolters Kluwer-Medknow.