thota nagaraju | Birla Institute of Technology and Sciences (BITS-Pilani), Hyderabad Campus (original) (raw)

Papers by thota nagaraju

India studies in business and economics, 2022

SSRN Electronic Journal, 2019

Using 14 major commodity (bullion, base metal, agricultural and energy) futures contracts of Mult... more Using 14 major commodity (bullion, base metal, agricultural and energy) futures contracts of Multi Commodity Exchange (MCX) from July 2009 to December 2018, we examine the effects of margin changes on commodity futures markets in India. Our empirical results indicate that all commodity futures except Aluminium, Copper and Brent Crude, net margin is maximum for the quartile closet to the maturity. Similarly, volatility of margin imposition is the highest for the quartile closet to maturity. The increasing margin has a negative effect for all non-agricultural futures contracts except Aluminium and Brent Crude. The impact of a margin decrease on volume is weaker compared to a margin increase except for Natural Gas and Crude Oil which show that volume increased on days when margin reduced. On the other hand, both increase and decrease in margins have negative impact on open interest in all the commodity futures contracts.

Applied Economics Letters, 2019

This paper examines whether revenue diversification by banks is beneficial using data from India ... more This paper examines whether revenue diversification by banks is beneficial using data from India for the period 1995-2018. We use non-interest income to total income ratio as a measure of revenue diversification, and use market measures of returns and risk to evaluate the benefits. The results indicate that a higher share of non-interest income in total income leads to a higher market return and lowers the market risk. These results broadly remain the same even when we divide the sample into public (government owned) and private banks.

Finance Research Letters, 2019

This is a PDF file of an article that has undergone enhancements after acceptance, such as the ad... more This is a PDF file of an article that has undergone enhancements after acceptance, such as the addition of a cover page and metadata, and formatting for readability, but it is not yet the definitive version of record. This version will undergo additional copyediting, typesetting and review before it is published in its final form, but we are providing this version to give early visibility of the article. Please note that, during the production process, errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain.

SSRN Electronic Journal, 2017

Using actual voting records of simultaneous elections held for Indian federal and regional assemb... more Using actual voting records of simultaneous elections held for Indian federal and regional assemblies-where same political parties contest against each other in both type of electionswe identify non-committed voters. These are split ticket voters who vote for different parties in two different but simultaneous election. We find that the representatives supported by such voters outperform significantly with respect to both constituency level outcomes as well as measures based on individual effort. Having controlled for the impact of observable factors, we follow Imbens (2003); Harada (2012) and conduct generalized sensitivity analysis in order to account for the influence of unobservables.

SSRN Electronic Journal, 2017

Using official national-level survey data, we investigate the impact of a large debt waiver progr... more Using official national-level survey data, we investigate the impact of a large debt waiver program in India on beneficiaries savings and consumption. We find that the household consumption level and pattern are unaffected by the waiver. Plausibly anticipating higher credit constraints in the post-waiver period, the households increase precautionary savings as represented by increased investment in jewelry. The arbitrary program eligibility cutoff , defined in terms of landholdings, allows us to employ a robust regression discontinuity design. We perform several placebo and robustness tests in order to rule out alternative explanations.

Asian Journal of Research in Banking and Finance, 2015

A migraine is a severe, painful headache that is often preceded or accompanied by sensory warning... more A migraine is a severe, painful headache that is often preceded or accompanied by sensory warning signs such as flashes of light, blind spots, tingling in the arms and legs, nausea, vomiting, and increased sensitivity to light and sound. The excruciating pain that migraines bring can last for hours or even days. Migraine headaches result from a combination of blood vessel enlargement and the release of chemicals from nerve fibers that coil around these blood vessels. This causes a release of chemicals that cause inflammation, pain, and further enlargement of the artery. Medical science has proven a clear cut chemical imbalance in the lining of the blood vessels on the surface of the brain which carry pure blood to the brain. Migraine headache typically occurs in only a half of the head. It begins with a warning of some form. This takes the form of visual disturbance like blurring vision or visions of irregular circles of light round bright lights. All this could be terribly irritating. Migraine headache begins around the region of the eyes and forehead. Analgesics are used to relieve the pain, ergot preparations are also effective. Sumatriptan is used for acute attacks of migraine. Beta blockers may also be helpful. In cluster headaches, prophylaxis with drugs such as Valproic Acid, Verapamil, or Lithium Carbonate is more effective than the use of drugs during acute attacks. Tension headaches are controlled well by the use of analgesics. The prevention of a migraine attack is by trying to identify any precipitating factor and avoiding the same. The use of counseling and psychotherapy is essential in highly stressed, nervous and emotional individuals.

Asian Journal of Research in Business Economics and Management, 2015

Using the commodity futures contracts which trade on National Commodity and Derivatives Exchange ... more Using the commodity futures contracts which trade on National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX), this study examines the effectiveness of commodity futures as an inflation hedge for investors in India over the period January 2004 to December 2014. Commodity futures contracts such as the ATF, CFI (Carbon Credits), Coriander, Heating Oil, Maize, Refined Soy Oil, Rubber, Thermal Coal, and Tin which trade on MCX and Aluminium, Castor Seed, Copper, Medium Staple Cotton, Cashew, Furnace Oil, Mentha Oil, Pepper, and Yellow Peas which trade on NCDEX are perfectly hedged against inflation, expected and unexpected inflation. On the other hand, Turmeric which trades on MCX, and Nickle which trades on NCDEX are perfectly hedged against inflation and unexpected inflation only. Most of the commodity futures which are perfectly hedgable against inflation are belonging to agriculture sector.

SSRN Electronic Journal, 2015

Using official national level survey data and employing robust regression discontinuity, we inves... more Using official national level survey data and employing robust regression discontinuity, we investigate the impact of a large debt waiver program in India on the savings and consumption of the beneficiaries. By extending the Banerjee and Duflo (2014) model, we show that increased moral hazard caused by a debt relief is likely to rupture the informal bailout mechanism developed by the loan officers and hence increase credit constraints. Rationally anticipating a decline in income, households resort to precautionary savings by increasing investments in jewellery. There is little impact on consumption. The results are in line with the Permanent Income Hypothesis.

SSRN Electronic Journal, 2015

Using actual voting records of simultaneous elections held for federal and regional assemblies - ... more Using actual voting records of simultaneous elections held for federal and regional assemblies - where same political parties contest against each other in both type of elections - we identify the swing voters in an electoral constituency. We compare the Parliamentary performance of elected representatives who enjoy high level of support among swing voters and those who enjoy low level of support among such voters. We measure performance of an elected representative based on her level of activity in Parliament. Specifically, we use attendance, number of questions asked, number of debates participated in and number of private member bills introduced as metrics for measuring performance. We find that representatives who enjoy high level of support among swing voters outperform others significantly in terms of all four parameters that we examine. The above differences are not explained by differences in observable candidate characteristics. We also find that reelection chances are more sensitive to performance in high swing constituencies. The above findings show that the presence of swing voters enhances the effectiveness of democratic institutions by significantly increasing activity level of such institutions.

SSRN Electronic Journal, 2014

While persistence of political dynasties in a democracy has received attention, the performance o... more While persistence of political dynasties in a democracy has received attention, the performance of dynasts remains unstudied. using a regression discontinuity (RD) framework, we compare dynastic representatives, who defeat non-dynastic candidates by a close margin with non-dynastic representatives, who defeat dynasts by a similar margin. We devise a set of performance measures, which include aggregate outcomes as well as measures based on individual initiative. We find that dynasts under-perform in terms of economic growth, crime, utilization of development funds and parliamentary performance and do not outperform in terms of any other criteria. Our findings show that the persistence of dynasties imposes significant economic and political costs.

SSRN Electronic Journal, 2013

This paper analyzes the degree of concentration, competition, efficiency and their relationship i... more This paper analyzes the degree of concentration, competition, efficiency and their relationship in the Indian banking sector over the period 1980-2011. The sample period is divided into three sub-periods: pre-reforms period (1980-89) liberalization period (reforms 1990-1998), and post-reform period (1999-2011). The analysis is carried out using bank level balance sheet data by employing structural measures (CR3, CR5, CR8 and HHI on total assets and deposits), non-structural measures (Panzar-Rosse model on total revenue and interest revenue as the dependent variables), Data Envelopment Analysis (DEA), and Granger-causality test. Our results indicate that Indian banking sector was highly concentrated, efficient and competitive in the pre-reforms period. However, it is not the case in the reforms and post-reforms periods. There is a significant declining trend in terms of concentration, efficiency and competition. Granger-causality test reveals that when the competition is measured using total revenue as the dependent variable then efficiency Granger-causes the competition and competition does not Granger-cause the efficiency. On the other hand, when the competition is measured using interest revenue as the dependent variable then competition Granger-causes the efficiency and efficiency does not Granger-cause the competition. On the whole, Indian banking industry operates under monopolistic competition.

SSRN Electronic Journal, 2013

Using an unbalanced bank level panel data, this study tries to examine how bank-specific characte... more Using an unbalanced bank level panel data, this study tries to examine how bank-specific characteristics and macroeconomic factors affect the profitability of commercial banks (108 commercial banks) in India in the post reform period from 1999 to 2011. The results indicate that profitability of commercial banks in India, regardless of their ownership, is affected by both internal and external characteristics and changes in the overall banking environment. However, the study finds that the impact is not uniform across bank types. The results indicate that banks’ liquidity conditions and size do not impact neither return on equity (ROE) or return on asset (ROA) of the profitability measure. On the other hand, it is found that profitability of private and foreign banks is positively related to their credit risk. The results indicate that overhead cost affects ROE of private and foreign banks positively while public sector banks negatively. Whereas the impact of overheads cost on ROA is positively significant in the case of all banks and negatively significant in the case of private banks. There exists a negative relationship between the level of capital strength and ROE and a positive relationship between the level capital strength and ROA in the case of all banks and public banks, which indicates that the more is the capital strength, the more is the profitability of these banks. The impact of Macroeconomic factors on ROE is insignificant for all cases with conflicting signs across ownership types of the banks. On the other hand on ROA, these indicators are significant when we pool the whole sample together (i.e. all banks) and private banks as a group.

Toxicology in Vitro, 2014

Cancer chemoprevention is a strategy taken to block, reverse or retard the multistep process of c... more Cancer chemoprevention is a strategy taken to block, reverse or retard the multistep process of carcinogenesis, including the blockage of its vital morphogenetic milestones viz. normal-preneoplasia-neoplasia-metastasis. Naturally occurring phytochemicals are becoming increasingly popular over synthetic drugs for several reasons, including safety, efficacy, and easy availability. Nimbolide, a triterpene derived from the leaves and flowers of neem, is widely used in traditional medical practices for treating various human ailments. The neem limonoid exhibits multiple pharmacological effects among which its anticancer activity is the most promising. The preclinical and mechanistic studies carried over the decades have shown that nimbolide inhibits tumorigenesis and metastasis without any toxicity and unwanted side effects. Nimbolide exhibits anticancer activity through selective modulation of multiple cell signaling pathways linked to inflammation, survival, growth, invasion, angiogenesis and metastasis. The present review highlights the current knowledge on molecular targets that contribute to the observed anticancer activity of nimbolide related to (i) inhibition of carcinogenic activation and induction of antioxidant and carcinogen detoxification enzymes, (ii) induction of growth arrest and apoptosis; and (iii) suppression of proinflammatory signaling pathways related to cancer progression.

SSRN Electronic Journal, 2015

Using actual voting records of simultaneous elections held for Indian federal and regional assemb... more Using actual voting records of simultaneous elections held for Indian federal and regional assemblies -- where same political parties contest against each other in both type of elections -- we identify swing voters. We find that the representatives supported by swing voters outperform significantly with respect to both constituency level outcomes as well as measures based on individual effort. Having controlled for the impact of observable factors, we follow Imbens (2003); Harada (2012) and conduct generalized sensitivity analysis in order to rule out the influence of unobservable factors. We show that the swing voters strengthen the positive association between democracy and growth.

Asian Journal of Research in Business Economics and Management, 2013

This study investigates the impact of non-traditional activities on bank efficiency levels. This ... more This study investigates the impact of non-traditional activities on bank efficiency levels. This study also examines the features common to banks that are heavily engaged in noninterest income generating activities in Indian commercial banking industry over the period from 1980 to 2012. The empirical analysis is done in two parts. First part examines technical efficiency of banks using a traditional function that considers loans and investments as the only outputs and the inputs being uniform across the functions. This study estimates two more additional functions to account for non-traditional activities, one with noninterest income and the other with only fee income as an additional output. Results reveal that the exclusion of non-traditional outputs understates bank efficiency irrespective of the regulatory regime. There is no significant difference between efficiency scores when noninterest income and fee income, used as the output variable. The second part examines the features...

Using cointegrational analysis, this study investigates the long-run relationship between the ret... more Using cointegrational analysis, this study investigates the long-run relationship between the return on equity (ROE) and return on asset (ROA) of Indian commercial banks over the period 1991–92 to 2011–12. The empirical results reveal that ROE and ROA are integrated of order I (1) and they are stationary at first order difference and there exists a long-run positive relationship between ROE and ROA in all groups except in the case of Indian private bank group which has a negative coefficient but not statistically significant. Furthermore the Granger causality analysis reveals that there exists a bidirectional causality except in private (new, old and all private) bank group and SBI and its associates group.

Using Data Envelopment Analysis (DEA) and panel Tobit regression model, this study investigates t... more Using Data Envelopment Analysis (DEA) and panel Tobit regression model, this study investigates the determinants of the Indian Commercial Banks Efficiency for the period of 1992–2011.The overall mean efficiency estimates are 47%, 68%, and 71% respectively under Constant Returns to Scale (CRS), Variable Returns to Scale (VRS) and Scale efficiency assumptions for the full sample period. The panel Tobit results indicate that the determinants of the bank efficiency are not common either under bank ownership type or under the Scale assumptions. In the case of full sample under all banks category, under VRS assumption the bank liquidity, profitability, cost, loan concentration variables are key determinants and from macroeconomic variables only GDP growth rate shows some impact. On the other hand under CRS assumption, the liquidity risk, concentration indices and inflation are the key determinants. Finally, under Scale Efficiency assumption, except liquidity and profitability variables, r...

Indian Journal of Finance, 2014

Asian Journal of Research in Business Economics and Management, 2013

India studies in business and economics, 2022

SSRN Electronic Journal, 2019

Using 14 major commodity (bullion, base metal, agricultural and energy) futures contracts of Mult... more Using 14 major commodity (bullion, base metal, agricultural and energy) futures contracts of Multi Commodity Exchange (MCX) from July 2009 to December 2018, we examine the effects of margin changes on commodity futures markets in India. Our empirical results indicate that all commodity futures except Aluminium, Copper and Brent Crude, net margin is maximum for the quartile closet to the maturity. Similarly, volatility of margin imposition is the highest for the quartile closet to maturity. The increasing margin has a negative effect for all non-agricultural futures contracts except Aluminium and Brent Crude. The impact of a margin decrease on volume is weaker compared to a margin increase except for Natural Gas and Crude Oil which show that volume increased on days when margin reduced. On the other hand, both increase and decrease in margins have negative impact on open interest in all the commodity futures contracts.

Applied Economics Letters, 2019

This paper examines whether revenue diversification by banks is beneficial using data from India ... more This paper examines whether revenue diversification by banks is beneficial using data from India for the period 1995-2018. We use non-interest income to total income ratio as a measure of revenue diversification, and use market measures of returns and risk to evaluate the benefits. The results indicate that a higher share of non-interest income in total income leads to a higher market return and lowers the market risk. These results broadly remain the same even when we divide the sample into public (government owned) and private banks.

Finance Research Letters, 2019

This is a PDF file of an article that has undergone enhancements after acceptance, such as the ad... more This is a PDF file of an article that has undergone enhancements after acceptance, such as the addition of a cover page and metadata, and formatting for readability, but it is not yet the definitive version of record. This version will undergo additional copyediting, typesetting and review before it is published in its final form, but we are providing this version to give early visibility of the article. Please note that, during the production process, errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain.

SSRN Electronic Journal, 2017

Using actual voting records of simultaneous elections held for Indian federal and regional assemb... more Using actual voting records of simultaneous elections held for Indian federal and regional assemblies-where same political parties contest against each other in both type of electionswe identify non-committed voters. These are split ticket voters who vote for different parties in two different but simultaneous election. We find that the representatives supported by such voters outperform significantly with respect to both constituency level outcomes as well as measures based on individual effort. Having controlled for the impact of observable factors, we follow Imbens (2003); Harada (2012) and conduct generalized sensitivity analysis in order to account for the influence of unobservables.

SSRN Electronic Journal, 2017

Using official national-level survey data, we investigate the impact of a large debt waiver progr... more Using official national-level survey data, we investigate the impact of a large debt waiver program in India on beneficiaries savings and consumption. We find that the household consumption level and pattern are unaffected by the waiver. Plausibly anticipating higher credit constraints in the post-waiver period, the households increase precautionary savings as represented by increased investment in jewelry. The arbitrary program eligibility cutoff , defined in terms of landholdings, allows us to employ a robust regression discontinuity design. We perform several placebo and robustness tests in order to rule out alternative explanations.

Asian Journal of Research in Banking and Finance, 2015

A migraine is a severe, painful headache that is often preceded or accompanied by sensory warning... more A migraine is a severe, painful headache that is often preceded or accompanied by sensory warning signs such as flashes of light, blind spots, tingling in the arms and legs, nausea, vomiting, and increased sensitivity to light and sound. The excruciating pain that migraines bring can last for hours or even days. Migraine headaches result from a combination of blood vessel enlargement and the release of chemicals from nerve fibers that coil around these blood vessels. This causes a release of chemicals that cause inflammation, pain, and further enlargement of the artery. Medical science has proven a clear cut chemical imbalance in the lining of the blood vessels on the surface of the brain which carry pure blood to the brain. Migraine headache typically occurs in only a half of the head. It begins with a warning of some form. This takes the form of visual disturbance like blurring vision or visions of irregular circles of light round bright lights. All this could be terribly irritating. Migraine headache begins around the region of the eyes and forehead. Analgesics are used to relieve the pain, ergot preparations are also effective. Sumatriptan is used for acute attacks of migraine. Beta blockers may also be helpful. In cluster headaches, prophylaxis with drugs such as Valproic Acid, Verapamil, or Lithium Carbonate is more effective than the use of drugs during acute attacks. Tension headaches are controlled well by the use of analgesics. The prevention of a migraine attack is by trying to identify any precipitating factor and avoiding the same. The use of counseling and psychotherapy is essential in highly stressed, nervous and emotional individuals.

Asian Journal of Research in Business Economics and Management, 2015

Using the commodity futures contracts which trade on National Commodity and Derivatives Exchange ... more Using the commodity futures contracts which trade on National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX), this study examines the effectiveness of commodity futures as an inflation hedge for investors in India over the period January 2004 to December 2014. Commodity futures contracts such as the ATF, CFI (Carbon Credits), Coriander, Heating Oil, Maize, Refined Soy Oil, Rubber, Thermal Coal, and Tin which trade on MCX and Aluminium, Castor Seed, Copper, Medium Staple Cotton, Cashew, Furnace Oil, Mentha Oil, Pepper, and Yellow Peas which trade on NCDEX are perfectly hedged against inflation, expected and unexpected inflation. On the other hand, Turmeric which trades on MCX, and Nickle which trades on NCDEX are perfectly hedged against inflation and unexpected inflation only. Most of the commodity futures which are perfectly hedgable against inflation are belonging to agriculture sector.

SSRN Electronic Journal, 2015

Using official national level survey data and employing robust regression discontinuity, we inves... more Using official national level survey data and employing robust regression discontinuity, we investigate the impact of a large debt waiver program in India on the savings and consumption of the beneficiaries. By extending the Banerjee and Duflo (2014) model, we show that increased moral hazard caused by a debt relief is likely to rupture the informal bailout mechanism developed by the loan officers and hence increase credit constraints. Rationally anticipating a decline in income, households resort to precautionary savings by increasing investments in jewellery. There is little impact on consumption. The results are in line with the Permanent Income Hypothesis.

SSRN Electronic Journal, 2015

Using actual voting records of simultaneous elections held for federal and regional assemblies - ... more Using actual voting records of simultaneous elections held for federal and regional assemblies - where same political parties contest against each other in both type of elections - we identify the swing voters in an electoral constituency. We compare the Parliamentary performance of elected representatives who enjoy high level of support among swing voters and those who enjoy low level of support among such voters. We measure performance of an elected representative based on her level of activity in Parliament. Specifically, we use attendance, number of questions asked, number of debates participated in and number of private member bills introduced as metrics for measuring performance. We find that representatives who enjoy high level of support among swing voters outperform others significantly in terms of all four parameters that we examine. The above differences are not explained by differences in observable candidate characteristics. We also find that reelection chances are more sensitive to performance in high swing constituencies. The above findings show that the presence of swing voters enhances the effectiveness of democratic institutions by significantly increasing activity level of such institutions.

SSRN Electronic Journal, 2014

While persistence of political dynasties in a democracy has received attention, the performance o... more While persistence of political dynasties in a democracy has received attention, the performance of dynasts remains unstudied. using a regression discontinuity (RD) framework, we compare dynastic representatives, who defeat non-dynastic candidates by a close margin with non-dynastic representatives, who defeat dynasts by a similar margin. We devise a set of performance measures, which include aggregate outcomes as well as measures based on individual initiative. We find that dynasts under-perform in terms of economic growth, crime, utilization of development funds and parliamentary performance and do not outperform in terms of any other criteria. Our findings show that the persistence of dynasties imposes significant economic and political costs.

SSRN Electronic Journal, 2013

This paper analyzes the degree of concentration, competition, efficiency and their relationship i... more This paper analyzes the degree of concentration, competition, efficiency and their relationship in the Indian banking sector over the period 1980-2011. The sample period is divided into three sub-periods: pre-reforms period (1980-89) liberalization period (reforms 1990-1998), and post-reform period (1999-2011). The analysis is carried out using bank level balance sheet data by employing structural measures (CR3, CR5, CR8 and HHI on total assets and deposits), non-structural measures (Panzar-Rosse model on total revenue and interest revenue as the dependent variables), Data Envelopment Analysis (DEA), and Granger-causality test. Our results indicate that Indian banking sector was highly concentrated, efficient and competitive in the pre-reforms period. However, it is not the case in the reforms and post-reforms periods. There is a significant declining trend in terms of concentration, efficiency and competition. Granger-causality test reveals that when the competition is measured using total revenue as the dependent variable then efficiency Granger-causes the competition and competition does not Granger-cause the efficiency. On the other hand, when the competition is measured using interest revenue as the dependent variable then competition Granger-causes the efficiency and efficiency does not Granger-cause the competition. On the whole, Indian banking industry operates under monopolistic competition.

SSRN Electronic Journal, 2013

Using an unbalanced bank level panel data, this study tries to examine how bank-specific characte... more Using an unbalanced bank level panel data, this study tries to examine how bank-specific characteristics and macroeconomic factors affect the profitability of commercial banks (108 commercial banks) in India in the post reform period from 1999 to 2011. The results indicate that profitability of commercial banks in India, regardless of their ownership, is affected by both internal and external characteristics and changes in the overall banking environment. However, the study finds that the impact is not uniform across bank types. The results indicate that banks’ liquidity conditions and size do not impact neither return on equity (ROE) or return on asset (ROA) of the profitability measure. On the other hand, it is found that profitability of private and foreign banks is positively related to their credit risk. The results indicate that overhead cost affects ROE of private and foreign banks positively while public sector banks negatively. Whereas the impact of overheads cost on ROA is positively significant in the case of all banks and negatively significant in the case of private banks. There exists a negative relationship between the level of capital strength and ROE and a positive relationship between the level capital strength and ROA in the case of all banks and public banks, which indicates that the more is the capital strength, the more is the profitability of these banks. The impact of Macroeconomic factors on ROE is insignificant for all cases with conflicting signs across ownership types of the banks. On the other hand on ROA, these indicators are significant when we pool the whole sample together (i.e. all banks) and private banks as a group.

Toxicology in Vitro, 2014

Cancer chemoprevention is a strategy taken to block, reverse or retard the multistep process of c... more Cancer chemoprevention is a strategy taken to block, reverse or retard the multistep process of carcinogenesis, including the blockage of its vital morphogenetic milestones viz. normal-preneoplasia-neoplasia-metastasis. Naturally occurring phytochemicals are becoming increasingly popular over synthetic drugs for several reasons, including safety, efficacy, and easy availability. Nimbolide, a triterpene derived from the leaves and flowers of neem, is widely used in traditional medical practices for treating various human ailments. The neem limonoid exhibits multiple pharmacological effects among which its anticancer activity is the most promising. The preclinical and mechanistic studies carried over the decades have shown that nimbolide inhibits tumorigenesis and metastasis without any toxicity and unwanted side effects. Nimbolide exhibits anticancer activity through selective modulation of multiple cell signaling pathways linked to inflammation, survival, growth, invasion, angiogenesis and metastasis. The present review highlights the current knowledge on molecular targets that contribute to the observed anticancer activity of nimbolide related to (i) inhibition of carcinogenic activation and induction of antioxidant and carcinogen detoxification enzymes, (ii) induction of growth arrest and apoptosis; and (iii) suppression of proinflammatory signaling pathways related to cancer progression.

SSRN Electronic Journal, 2015

Using actual voting records of simultaneous elections held for Indian federal and regional assemb... more Using actual voting records of simultaneous elections held for Indian federal and regional assemblies -- where same political parties contest against each other in both type of elections -- we identify swing voters. We find that the representatives supported by swing voters outperform significantly with respect to both constituency level outcomes as well as measures based on individual effort. Having controlled for the impact of observable factors, we follow Imbens (2003); Harada (2012) and conduct generalized sensitivity analysis in order to rule out the influence of unobservable factors. We show that the swing voters strengthen the positive association between democracy and growth.

Asian Journal of Research in Business Economics and Management, 2013

This study investigates the impact of non-traditional activities on bank efficiency levels. This ... more This study investigates the impact of non-traditional activities on bank efficiency levels. This study also examines the features common to banks that are heavily engaged in noninterest income generating activities in Indian commercial banking industry over the period from 1980 to 2012. The empirical analysis is done in two parts. First part examines technical efficiency of banks using a traditional function that considers loans and investments as the only outputs and the inputs being uniform across the functions. This study estimates two more additional functions to account for non-traditional activities, one with noninterest income and the other with only fee income as an additional output. Results reveal that the exclusion of non-traditional outputs understates bank efficiency irrespective of the regulatory regime. There is no significant difference between efficiency scores when noninterest income and fee income, used as the output variable. The second part examines the features...

Using cointegrational analysis, this study investigates the long-run relationship between the ret... more Using cointegrational analysis, this study investigates the long-run relationship between the return on equity (ROE) and return on asset (ROA) of Indian commercial banks over the period 1991–92 to 2011–12. The empirical results reveal that ROE and ROA are integrated of order I (1) and they are stationary at first order difference and there exists a long-run positive relationship between ROE and ROA in all groups except in the case of Indian private bank group which has a negative coefficient but not statistically significant. Furthermore the Granger causality analysis reveals that there exists a bidirectional causality except in private (new, old and all private) bank group and SBI and its associates group.

Using Data Envelopment Analysis (DEA) and panel Tobit regression model, this study investigates t... more Using Data Envelopment Analysis (DEA) and panel Tobit regression model, this study investigates the determinants of the Indian Commercial Banks Efficiency for the period of 1992–2011.The overall mean efficiency estimates are 47%, 68%, and 71% respectively under Constant Returns to Scale (CRS), Variable Returns to Scale (VRS) and Scale efficiency assumptions for the full sample period. The panel Tobit results indicate that the determinants of the bank efficiency are not common either under bank ownership type or under the Scale assumptions. In the case of full sample under all banks category, under VRS assumption the bank liquidity, profitability, cost, loan concentration variables are key determinants and from macroeconomic variables only GDP growth rate shows some impact. On the other hand under CRS assumption, the liquidity risk, concentration indices and inflation are the key determinants. Finally, under Scale Efficiency assumption, except liquidity and profitability variables, r...

Indian Journal of Finance, 2014

Asian Journal of Research in Business Economics and Management, 2013