Muneesh Kumar - Academia.edu (original) (raw)
Papers by Muneesh Kumar
Monetary Economics: Financial System & Institutions eJournal, 2016
Mandatory directed credit or priority sector lending (PSL) is part of the regulatory framework fo... more Mandatory directed credit or priority sector lending (PSL) is part of the regulatory framework for commercial banks/ financial institutions in many countries, both developing and developed. However, compliance and lending effectiveness of such programs may be determined by a host of factors. This may be particularly so in developing countries, where availability of finance for the vulnerable sectors like agriculture, small businesses, weaker sections, is scarce. The present paper aims at examining the patterns of priority sector lending by banks, with a view to identifying the factors which determine this lending, and implementation challenges for lending by banks in such programs. The paper is based on an analysis of secondary data relating to priority sector lending (1998-2014) for eighty banks in India, and is supported by findings from the survey of ninety-seven lending officers of various banks. The results indicate gaps in patterns of the sect oral target compliance by differe...
Banks and Bank Systems, 2017
Mergers have the potential of possible value creation for various stakeholders, which in turn may... more Mergers have the potential of possible value creation for various stakeholders, which in turn may affect their wealth. The wealth effect of merger may be noticed right from the time when the merger is announced, as share market would, generally react to such announcement affecting the stock characteristics of the company. The impact of such reaction has been a matter of concern and confusion particularly from the perspective of shareholder’s of bidder banks. The market reaction to merger announcement has primarily been examined in terms of impact on stock returns and very little attention has been paid to other stock characteristics. This paper examines the impact of merger announcements in Indian banking sector on shareholder’s wealth, focusing on three stock characteristics namely, stock returns, volatility and liquidity of the bidder banks. It is assumed that volatility and liquidity also influence value for the shareholder’s wealth. The paper is based on the study of market reac...
Banks and Bank Systems, 2012
Problems and Perspectives in Management, 2005
Problems and Perspectives in Management, 2012
Internet banking has emerged as a profitable e-commerce application over the last decade. While t... more Internet banking has emerged as a profitable e-commerce application over the last decade. While the banks in developing countries have been able to increase the number of users of Internet banking with the help of aggressive marketing campaigns, the level of adoption still remains fairly low as is reflected by the types of Internet banking services that the customers avail of. While low level of trust has often been cited as the reason of lower degree of adoption of Internet banking, the means to develop such trust are still not clearly known. An understanding of the role of different types of trust in Internet banking can provide useful inputs for strategy design in this regard. The present paper examines the role of different types of trust in influencing the level of adoption of Internet banking. Based on the data regarding the perceptions of 107 Internet banking users in India, an attempt has been made to study the relationship between the level of adoption and institution base trust, disposition to trust and trusting beliefs.
This study examines the stock market performance of Indian state-owned public sector units (PSUs)... more This study examines the stock market performance of Indian state-owned public sector units (PSUs), which were privatized through initial public offerings (IPOs) and further public offerings (FPOs). The analysis of stock price reaction is conducted for different event dates related to these offerings, that is, public notice date (PND), issue announcement date (IAD), price band/actual issue date (PAD), and the offer price date (OFD). The study also compares the price reaction for IPO and FPO issues. Furthermore, as the public sector equity offerings are generally sold at a discount, we also empirically analyze the degree of underpricing of such offerings. The study uses event methodology for 18 PSUs that made FPOs between 2002 and early 2013. The results report positive abnormal returns (ARs) (i.e., excess returns over and above the expected returns) after the primary offerings (IPO) of the equity. Furthermore, it was observed that in the case of first-stage further offerings (FPO-1),...
Trust and Technology in B2B E-Commerce
The technology-related trust issues hypothesized in the proposed model include security, authenti... more The technology-related trust issues hypothesized in the proposed model include security, authentication, confidentiality, non-repudiation, web interface, system performance and technology-related policies and procedures. These issues can be addressed by maintaining high levels of assurance with respect to various technologies discussed in the previous chapter. As is evident from the earlier discussions, most of these technologies are inter-related and have the potential to address more than one such issue. Based on the levels of assurance in respect of the relevant technologies, an attempt has been made to assess the level of assurance with regard to each of these technology related trust issues. This chapter presents an analysis of the assessment of these levels of assurance.
Mandatory directed credit program (DCP) or priority sector lending (PSL) program, which is part o... more Mandatory directed credit program (DCP) or priority sector lending (PSL) program, which is part of the regulatory framework for commercial banks/ financial institutions in many countries, presently focusses mainly on achieving the national objective of balanced sectoral development. With a small change in the guidelines, it can also be made an effective instrument for reducing geographical inequalities in any federal structure of government. Since the program involves a significant proportion of the economy’s resources and has a social objective to serve, its use should be optimal and in alignment with the current national priorities. The present paper therefore, aims at examining the patterns, preferences and challenges of directed lending by banks across various states in India, with a view to identifying state specific characteristics, which may impact its distribution, and to thereby offer policy suggestions for strengthening the program. The paper is based on an analysis of sec...
Banks and Bank Systems, 2017
A mature credit risk management (CRM) framework determines to a great extent the strength of bank... more A mature credit risk management (CRM) framework determines to a great extent the strength of banking system in general and financial performance of a bank in particular. Evaluation of maturity of CRM framework however, suffers from a lack of reliable measure for this purpose. The CRM index for commercial banks, as proposed here attempts to provide a quantitative measure of management practices based on predefined benchmark practices that CRM efforts should aim to develop and follow. Based on the computation of the CRM index scores for thirty-three commercial banks in India, an attempt has been made to validate the index by relating their CRM index scores with their nonperforming advances ratios.
This paper examines the relationship between merger announcements with the stock returns in the I... more This paper examines the relationship between merger announcements with the stock returns in the Indian Banking during the period of 1999-2008. Using event study methodology, it attempts to ascertain whether the bidder banks experience significant abnormal returns during the post-announcement and pre-announcement periods. The results indicate that bidder banks may or may not experience any significant abnormal returns during the post-announcement period. No bank specific characteristics could explain the pattern of market reaction to merger announcements. However, significant abnormal returns were observed in daily share prices in majority of the cases, during the preannouncement period, indicating possibility of leakage of information in the market.
This study examines the role of several antecedents in explaining the consumer’s attitude towards... more This study examines the role of several antecedents in explaining the consumer’s attitude towards cause co-branded credit cards where the bank makes a commitment to donate a percentage or a designated amount to the ‘non-profit organization’ (NPO) each time the customer uses such credit card for payment. The results of the study conducted on Indian consumers confirm and enrich the findings of earlier research in the brand alliances literature which were based on antecedents such as prior attitude towards the ‘for-profit organization’ (FPO) and NPO brands, Brand Name Fit and Product Cause Category Fit.
Problems and perspectives in management, 2017
Internet banking has emerged as a profitable e-commerce application over the last decade. While t... more Internet banking has emerged as a profitable e-commerce application over the last decade. While the banks in developing countries have been able to increase the number of users of Internet banking with the help of aggressive marketing campaigns, the level of adoption still remains fairly low as is reflected by the types of Internet banking services that the customers avail of. While low level of trust has often been cited as the reason of lower degree of adoption of Internet banking, the means to develop such trust are still not clearly known. An understanding of the role of different types of trust in Internet banking can provide useful inputs for strategy design in this regard. The present paper examines the role of different types of trust in influencing the level of adoption of Internet banking. Based on the data regarding the perceptions of 107 Internet banking users in India, an attempt has been made to study the relationship between the level of adoption and institution base ...
A wide array of credit risk management (CRM) practices have been followed by commercial banks sin... more A wide array of credit risk management (CRM) practices have been followed by commercial banks since their inception. These practices have evolved over the years; new practices/strategies have been formulated, old practices have been updated/revised, traditional operations are being replaced by new sophisticated procedures. With such continuous evolution of CRM practices, CRM capability maturity of banks has also improved over time. Further, the role/importance and effectiveness of each CRM practice in determining the maturity of CRM capability is an important issue that needs to be addressed. A number of capability maturity models have been suggested in general for a business organisation. However, these studies focus on the assessment of overall business risk management maturity and do not offer any model to trace the path of evolution towards maturity in CRM capability in commercial banks. This article attempts to fill this gap by investigating into how commercial banks mature in ...
While the race for offering new Internet banking services continues, banks struggle to find highe... more While the race for offering new Internet banking services continues, banks struggle to find higher levels of Internet banking adoption among their customers. In spite of a number of studies on adoption of new technologies including Internet banking, understanding of the factors that have a significant impact on the adoption of Internet banking is fairly incomplete. Though there is sufficient empirical evidence of Technology adoption model (TAM), a number of studies have pointed out trust as an important determinant of adoption of technology. The present paper integrates Mcknight’s web trust model with TAM in the context of adoption of Internet banking. It identifies the antecedents of different types of trust and examines their relative role in building the trusting beliefs that in turn influence not only the adoption but also the level of adoption of Internet banking. The study is based on the data collected in a survey of 107 Internet banking users in India.
Afro-Asian J. of Finance and Accounting, 2010
Department of Financial Studies, University of Delhi, South Campus, Benito Juarez Road, New Delhi... more Department of Financial Studies, University of Delhi, South Campus, Benito Juarez Road, New Delhi 110021, India and Groupe Ecole Superieure de Commerce de PAU (ESC PUA), 3, rue St. John-Perse, BP 7412, 64075 PAU Cedex, France E-mail: muneeshk@yahoo.com * ...
... International transfer of technology to India. Post a Comment. CONTRIBUTORS: Author:Muneesh K... more ... International transfer of technology to India. Post a Comment. CONTRIBUTORS: Author:Muneesh Kumar. PUBLISHER: Anmol Publications (New Delhi, India). SERIES TITLE: YEAR: 1988. PUB TYPE: Book (ISBN 8170410762 ). VOLUME/EDITION: ...
Monetary Economics: Financial System & Institutions eJournal, 2016
Mandatory directed credit or priority sector lending (PSL) is part of the regulatory framework fo... more Mandatory directed credit or priority sector lending (PSL) is part of the regulatory framework for commercial banks/ financial institutions in many countries, both developing and developed. However, compliance and lending effectiveness of such programs may be determined by a host of factors. This may be particularly so in developing countries, where availability of finance for the vulnerable sectors like agriculture, small businesses, weaker sections, is scarce. The present paper aims at examining the patterns of priority sector lending by banks, with a view to identifying the factors which determine this lending, and implementation challenges for lending by banks in such programs. The paper is based on an analysis of secondary data relating to priority sector lending (1998-2014) for eighty banks in India, and is supported by findings from the survey of ninety-seven lending officers of various banks. The results indicate gaps in patterns of the sect oral target compliance by differe...
Banks and Bank Systems, 2017
Mergers have the potential of possible value creation for various stakeholders, which in turn may... more Mergers have the potential of possible value creation for various stakeholders, which in turn may affect their wealth. The wealth effect of merger may be noticed right from the time when the merger is announced, as share market would, generally react to such announcement affecting the stock characteristics of the company. The impact of such reaction has been a matter of concern and confusion particularly from the perspective of shareholder’s of bidder banks. The market reaction to merger announcement has primarily been examined in terms of impact on stock returns and very little attention has been paid to other stock characteristics. This paper examines the impact of merger announcements in Indian banking sector on shareholder’s wealth, focusing on three stock characteristics namely, stock returns, volatility and liquidity of the bidder banks. It is assumed that volatility and liquidity also influence value for the shareholder’s wealth. The paper is based on the study of market reac...
Banks and Bank Systems, 2012
Problems and Perspectives in Management, 2005
Problems and Perspectives in Management, 2012
Internet banking has emerged as a profitable e-commerce application over the last decade. While t... more Internet banking has emerged as a profitable e-commerce application over the last decade. While the banks in developing countries have been able to increase the number of users of Internet banking with the help of aggressive marketing campaigns, the level of adoption still remains fairly low as is reflected by the types of Internet banking services that the customers avail of. While low level of trust has often been cited as the reason of lower degree of adoption of Internet banking, the means to develop such trust are still not clearly known. An understanding of the role of different types of trust in Internet banking can provide useful inputs for strategy design in this regard. The present paper examines the role of different types of trust in influencing the level of adoption of Internet banking. Based on the data regarding the perceptions of 107 Internet banking users in India, an attempt has been made to study the relationship between the level of adoption and institution base trust, disposition to trust and trusting beliefs.
This study examines the stock market performance of Indian state-owned public sector units (PSUs)... more This study examines the stock market performance of Indian state-owned public sector units (PSUs), which were privatized through initial public offerings (IPOs) and further public offerings (FPOs). The analysis of stock price reaction is conducted for different event dates related to these offerings, that is, public notice date (PND), issue announcement date (IAD), price band/actual issue date (PAD), and the offer price date (OFD). The study also compares the price reaction for IPO and FPO issues. Furthermore, as the public sector equity offerings are generally sold at a discount, we also empirically analyze the degree of underpricing of such offerings. The study uses event methodology for 18 PSUs that made FPOs between 2002 and early 2013. The results report positive abnormal returns (ARs) (i.e., excess returns over and above the expected returns) after the primary offerings (IPO) of the equity. Furthermore, it was observed that in the case of first-stage further offerings (FPO-1),...
Trust and Technology in B2B E-Commerce
The technology-related trust issues hypothesized in the proposed model include security, authenti... more The technology-related trust issues hypothesized in the proposed model include security, authentication, confidentiality, non-repudiation, web interface, system performance and technology-related policies and procedures. These issues can be addressed by maintaining high levels of assurance with respect to various technologies discussed in the previous chapter. As is evident from the earlier discussions, most of these technologies are inter-related and have the potential to address more than one such issue. Based on the levels of assurance in respect of the relevant technologies, an attempt has been made to assess the level of assurance with regard to each of these technology related trust issues. This chapter presents an analysis of the assessment of these levels of assurance.
Mandatory directed credit program (DCP) or priority sector lending (PSL) program, which is part o... more Mandatory directed credit program (DCP) or priority sector lending (PSL) program, which is part of the regulatory framework for commercial banks/ financial institutions in many countries, presently focusses mainly on achieving the national objective of balanced sectoral development. With a small change in the guidelines, it can also be made an effective instrument for reducing geographical inequalities in any federal structure of government. Since the program involves a significant proportion of the economy’s resources and has a social objective to serve, its use should be optimal and in alignment with the current national priorities. The present paper therefore, aims at examining the patterns, preferences and challenges of directed lending by banks across various states in India, with a view to identifying state specific characteristics, which may impact its distribution, and to thereby offer policy suggestions for strengthening the program. The paper is based on an analysis of sec...
Banks and Bank Systems, 2017
A mature credit risk management (CRM) framework determines to a great extent the strength of bank... more A mature credit risk management (CRM) framework determines to a great extent the strength of banking system in general and financial performance of a bank in particular. Evaluation of maturity of CRM framework however, suffers from a lack of reliable measure for this purpose. The CRM index for commercial banks, as proposed here attempts to provide a quantitative measure of management practices based on predefined benchmark practices that CRM efforts should aim to develop and follow. Based on the computation of the CRM index scores for thirty-three commercial banks in India, an attempt has been made to validate the index by relating their CRM index scores with their nonperforming advances ratios.
This paper examines the relationship between merger announcements with the stock returns in the I... more This paper examines the relationship between merger announcements with the stock returns in the Indian Banking during the period of 1999-2008. Using event study methodology, it attempts to ascertain whether the bidder banks experience significant abnormal returns during the post-announcement and pre-announcement periods. The results indicate that bidder banks may or may not experience any significant abnormal returns during the post-announcement period. No bank specific characteristics could explain the pattern of market reaction to merger announcements. However, significant abnormal returns were observed in daily share prices in majority of the cases, during the preannouncement period, indicating possibility of leakage of information in the market.
This study examines the role of several antecedents in explaining the consumer’s attitude towards... more This study examines the role of several antecedents in explaining the consumer’s attitude towards cause co-branded credit cards where the bank makes a commitment to donate a percentage or a designated amount to the ‘non-profit organization’ (NPO) each time the customer uses such credit card for payment. The results of the study conducted on Indian consumers confirm and enrich the findings of earlier research in the brand alliances literature which were based on antecedents such as prior attitude towards the ‘for-profit organization’ (FPO) and NPO brands, Brand Name Fit and Product Cause Category Fit.
Problems and perspectives in management, 2017
Internet banking has emerged as a profitable e-commerce application over the last decade. While t... more Internet banking has emerged as a profitable e-commerce application over the last decade. While the banks in developing countries have been able to increase the number of users of Internet banking with the help of aggressive marketing campaigns, the level of adoption still remains fairly low as is reflected by the types of Internet banking services that the customers avail of. While low level of trust has often been cited as the reason of lower degree of adoption of Internet banking, the means to develop such trust are still not clearly known. An understanding of the role of different types of trust in Internet banking can provide useful inputs for strategy design in this regard. The present paper examines the role of different types of trust in influencing the level of adoption of Internet banking. Based on the data regarding the perceptions of 107 Internet banking users in India, an attempt has been made to study the relationship between the level of adoption and institution base ...
A wide array of credit risk management (CRM) practices have been followed by commercial banks sin... more A wide array of credit risk management (CRM) practices have been followed by commercial banks since their inception. These practices have evolved over the years; new practices/strategies have been formulated, old practices have been updated/revised, traditional operations are being replaced by new sophisticated procedures. With such continuous evolution of CRM practices, CRM capability maturity of banks has also improved over time. Further, the role/importance and effectiveness of each CRM practice in determining the maturity of CRM capability is an important issue that needs to be addressed. A number of capability maturity models have been suggested in general for a business organisation. However, these studies focus on the assessment of overall business risk management maturity and do not offer any model to trace the path of evolution towards maturity in CRM capability in commercial banks. This article attempts to fill this gap by investigating into how commercial banks mature in ...
While the race for offering new Internet banking services continues, banks struggle to find highe... more While the race for offering new Internet banking services continues, banks struggle to find higher levels of Internet banking adoption among their customers. In spite of a number of studies on adoption of new technologies including Internet banking, understanding of the factors that have a significant impact on the adoption of Internet banking is fairly incomplete. Though there is sufficient empirical evidence of Technology adoption model (TAM), a number of studies have pointed out trust as an important determinant of adoption of technology. The present paper integrates Mcknight’s web trust model with TAM in the context of adoption of Internet banking. It identifies the antecedents of different types of trust and examines their relative role in building the trusting beliefs that in turn influence not only the adoption but also the level of adoption of Internet banking. The study is based on the data collected in a survey of 107 Internet banking users in India.
Afro-Asian J. of Finance and Accounting, 2010
Department of Financial Studies, University of Delhi, South Campus, Benito Juarez Road, New Delhi... more Department of Financial Studies, University of Delhi, South Campus, Benito Juarez Road, New Delhi 110021, India and Groupe Ecole Superieure de Commerce de PAU (ESC PUA), 3, rue St. John-Perse, BP 7412, 64075 PAU Cedex, France E-mail: muneeshk@yahoo.com * ...
... International transfer of technology to India. Post a Comment. CONTRIBUTORS: Author:Muneesh K... more ... International transfer of technology to India. Post a Comment. CONTRIBUTORS: Author:Muneesh Kumar. PUBLISHER: Anmol Publications (New Delhi, India). SERIES TITLE: YEAR: 1988. PUB TYPE: Book (ISBN 8170410762 ). VOLUME/EDITION: ...