IOSR-JEF   Volume-4 ~ Issue-4

Abstract: This paper investigates empirical existence of theories of IPO underpricing in Bangladesh. The study based on IPO listed at Dhaka Stock Exchange (DSE) from 2003 to 2013 analyses Level of IPO underpricing and its determinants. OLS regression is used to distinguish the relationship between various independent variables with dependent variable-level of underpricing. The result reveals that market capitalization, underwriter's reputation, oversubscription rate, offer size, float, ownership retention and method of issue have significant effect on the level of IPO underpricing, whereas size of the firm and offer timing has very little explanatory power. The significant effect of these variables identifies the presence of signaling theory, agency theory, winners curse theory, anchoring theory and impresario hypothesis in IPO pricing where signaling theory is most prominent one in deciding IPO underpricing in Bangladesh. Keywords: Initial public offering, Underpricing, and Dhaka Stock Exchange

Abstract: This paper proposes to study the alternatives for the rural population of the southern Brazil, in these beginning of the XXI century. When forestry is implemented we can observe the degradation of quality of life indicators (health, education and income). The multi activity of the small producer is replaced for the so called culture of abandonment. The issues addressed in this study are (i) is forestry an activity that leads to the impoverishment of the region? (ii) will the southern Brazil be "reached" by forestry? (iii) do the traditional pork´s economic activity will be displacement by the forestry industry? To answer these questions the hypotheses formulated are (i) there is an inverse relationship between the HDI and forestry and pork´s activities, (ii) There is a direct relationship between pork´s activity and forestry, and (iii) forestry is replacing the traditional economic activity. Data analysis showed is not possible to study the production in an aggregated manner.

Keywords: Economic activity, alternatives to forestry, smallholders.

Abstract: The objective of this paper is to analyse the health status of mining people in keonjhar district of Odisha. The study is based on primary data collected from mines worker in Banspal block of Keonjhar district of Odisha, India. Mines have some positive impact, such as employment opportunity and infrastructural development but their impact on health is negative , which can occur through both environmental and occupational health channels. The people closureto the mine is associated with higher incidence of waterborne diseases, typhoid and fever – most likely associated with changes in water quality and distribution, whereas employment in the mines is clearly associated with acute respiratory infections as might be expected from working in dusty conditions with no protection. Thus, a compensation mechanism should be designed in order to achieve a sustainable development in Odisha.

Key Words: Disease, Iron ore,Health Impact, Mining, Typhoid

Abstract: The concept of community development or the development of local communities (local community development) emerged as a reaction to national development-oriented power. On the other hand the implementation of various development programs using an equal approach to embed an institutional blueprint. This situation is a process called institutional monocropping for a variety of different local conditions. This study aims to explain the facts of a case study of institutional change in BKAD as an organization implementing empowerment in Kecamatan Wajak Kabupaten Malang. This study used a qualitative approach with a phenomenological method of research is organizational locus BKAD Kanjuruhan in Kabupaten Malang, East Java Province. The results of this research in theoretical and empirical perspectives show that: (1). The results of the institutional changes during the independence BKAD Kanjuruhan an efficient institutional administrators deemed of interest. The institutional sustainability is a realization of the meaning of empowerment by the board as increasing the capacity of individuals in the organization and the management capacity in the capital aspect BKAD (2). BKAD board involvement to manage activities on other empowerment programs is increasing recognition of individual capacity management, (3). Availability SHU (of net income) BKAD Kanjuruhan every year with ever increasing numbers indicate increasing BKAD capacity to manage capital. But in the context of the objectives of empowerment as a process of power distribution from one party to another party who does not have the power to realize, and (4). Strength in the form of funds deposited into the organization to be distributed back to that do not have it distributed to those who already have power, while also strengthening the capacity of individual reinforcement only be experienced by the group administrator.

Keywords: Institutional Change, Empowerment and Cooperation Organization Inter Village

Abstract: Mobile financial service (MFS) is getting popular everyday in Bangladesh. Mobile financial service is a tool to facilitate people with legitimate transaction process without the help of conventional banking system. This service is available through the mobile phone network, thus it may cover the remotest location of a country with least possible cost incurred. This service is very effective in a country that is geographically challenged like Bangladesh, Kenya, and Nigeria etc. And the world has already seen the result; M-Pesa (Mobile financial services in Kenya) is the largest MFS Company in the world. The essence of this service eventually make the number of transactions and amount humongous. The scope of MFS has not yet been explored properly in Bangladesh. If explored properly this can well be one of the biggest industry in Bangladesh which may help her reducing existing unemployment problem to an extent. There are some threats related to this service such as money laundering, corruption. I have done my research on this for last three years and finally prepared this paper.

Keywords: Mobile Financial Service, Telecom operator, Bank, Regulation, Scope

Abstract: It is common in the developing countries that women are being ignored since pre-historic time. The primary objectives of the research are to study the impact of MGNREGA on women empowerment and to identify the obstacles in the path of the implementation of the scheme. The paper focuses on the Female worker in Sonitpur District of Assam to derive conclusions to highlight the impact of the program on the lives of women. Female workers significant benefit reported by the study includes – income gains, social empowerment, more say in intra household decision making and creation of community assets etc. The paper ends up by identify certain barriers to women is access to MGNREGA.

Key Words: MGNREGA, Women Empowerment, Impact of MGNREGA Programme

Abstract: It is generally agreed that optimum application of fertiliser at farm level have the tendency of improving soil fertility leading to the rise in agricultural production. Indeed one-third of the increase in cereal production worldwide has been attributed to fertiliser related factors. This paper reviews and synthesises various literature and empirical studies on fertiliser demand. The paper has shown that different models have been used by previous studies in analysing determinants of fertiliser demand or adoption, depending on the objective of a particular study. The paper also, has shown that differences in the areas under previous studies have led to differences in conclusions, mainly because of the variations of the socio-economic, geographical, environmental and other climatic factors. The paper conclude that there is a need for more studies on fertiliser demand each study to concentrate its analysis on a specific area or community so as to come up with suggestions and policies suitable for each community in order to improve fertiliser use by farmers so as to raise the level of agricultural productivity in developing countries.

Abstract: One of the great new of Solvency II is the requirement for insurance companies to raise some of their own funds to cover their exposure to operational risks. To calculate this amount of capital, the regulator proposes two approaches : a standard approach and an advanced approach. The standard approach is a simplified approach calculated as a percentage of premiums or reserves. The advanced approach is an internal model where the risk actually corresponds to the situation of the company. EIOPA encourages insurance companies to opt for internal model by making the standard approach much more consuming in stockholders' equity. Thus, we propose in this paper a modeling by advanced approach that distinguishes frequency risks of severity risks. Frequency risks are defined as potential loss of low but frequent amounts : they are modeled by the Loss Distribution Approach. Severity risks are risks of losses of very important but very few amounts : they are modeled by Bayesian networks.

Keywords: Operational risk, standard approach, advanced approach, frequency risks, severity risks, Loss Distribution Approach, Bayesian networks, insurance.