An Empirical Study of the Relationship between Macroeconomic Variables and Stock Price: A Study on Dhaka Stock Exchange (DSE)

Literature strongly supports vibration of the stock price as a consequence of various macroeconomic factors (Darrat, 1990; Fama & Schwert, 1977; Jaffe & Mandelker, 1976; Nelson, 1976; Pearce & Roley, 1985; Ripley, 1973). This study has investigated the explanatory power of various macro-factors such as inflation rate, exchange rate, interest rate, money supply and production index on the variability of the stock price in Bangladesh. Multiple regression analysis has been conducted to asses the relationship between the stated macro economic factors with stock price. All share price index of the Dhaka Stock Exchange has been used as a proxy for stock price, the dependent variable of the study. No significant relationship has been found between the stock price and any of the macroeconomic factors. The study bodes well for advanced empirical models with additional macroeconomic variables.

Robust forecasting of mortality and fertility rates: a functional data approach

We propose a new method for forecasting age-specific mortality and fertility rates observed over time. Our approach allows for smooth functions of age, is robust for outlying years due to wars and epidemics, and provides a modelling framework that is easily adapted to allow for constraints and other information. We combine ideas from functional data analysis, nonparametric smoothing and robust statistics to form a methodology that is widely applicable to any functional time series data, and age-specific mortality and fertility in particular. We show that our model is a generalization of the Lee-Carter model commonly used in mortality and fertility forecasting. The methodology is applied to French mortality data and Australian fertility data, and we show that the forecasts obtained are superior to those from the Lee-Carter method and several of its variants.Fertility Forecasting, Functional Data, Mortality Forecasting, Nonparametric Smoothing, Principal Components, Robustness.

The influence of global, country and firm-level governance on social and environmental reporting: Evidence from developing countries

The study examines the influence of global, country and firm-level governance on social and environmental reporting (SER) in developing countries from the institutional perspective. Using the Bloomberg ESG disclosure, worldwide governance indicators, and other databases for 45 developing countries from 2007–2016, the study examines the influence of global, country and firm-level governance on SER. Results show that all three levels of governance have significant positive influences on SER, with global governance having the strongest influence on SER in developing countries. By interviewing 26 corporate and 23 non-corporate interviewees, the study explores ‘why and how’ the global, country and firm-level governance influence SER in Bangladesh, as a case of developing countries. The findings show that SER in Bangladesh is mainly driven by the coercive pressures from the global market, followed by the normative pressures from the firm-level, and the cultural-cognitive pressures from the country-level. Specifically, SER is primarily aimed at mitigating the coercive pressures from the powerful economic stakeholders, namely international buyers and lenders followed by the normative pressures at the firm-level to be endorsed for SER, thereby branding and expanding the business both at home and abroad. The country governance in Bangladesh is not conducive for SER due to the absence of coercive pressures (there is coercion for political donations, not for SER), normative pressures (lack of national guidelines for SER or CSR), and cultural cognitive pressures (lack of awareness of and interest in SER). The firm-level governance in Bangladesh is mainly superficial, and the inclusion of the so-called independent directors and female directors does not necessarily promote SER. The ‘board independence’ and ‘board gender-diversity’ are ‘in appearance’ rather than ‘in fact’, because of the lack of independent mindset, knowledge and expertise, benefit dependency (co-option), family control, patriarchy, male dominance, and honour culture. Findings indicate that SER is largely symbolic and used as an expedient response to the coercive as well as normative pressures exerted by the international powerful economic stakeholders followed by the normative pressures and expertise of SER at the firm-level for promoting the financial wellbeing of the reporting entities, rather than ensuring accountability, transparency and social justice in developing countries

The Character of Aswapathy as Nature’s Prayerful Rhythm in Sri Aurobindo’s Savitri

The present article studies the character of Aswapathy in Sri Aurobindo’s epic Savitri. In this grand epic, Aswapathy has been presented as the divine seeker of nature. In his spiritual pursuit he ascends higher and higher to discover the secret energies of nature. It is in this voyage in the realms of Nature that he comes across the creative Power of the Supreme and at once knows that it is she who alone can transform this darkness into light. He has also a certain perception that even this flawed material human race can become flawless

A Study of Semi-Active Steering System Performance On An All-Wheel Drive Flat Chassis Vehicle

There are many type of steering system exist nowadays. However, the main focus of this paper is to study on the Semi-active steering (SAS). This project deals with the effect of using SAS in combination with the flat chassis. One of main concern for using a conventional steering method is the lack of backup steering system. The recently developed steer-by-wire (SBW) system does have a backup system. However, the difference between SAS and SBW is in the usage of a flexible shaft in the SAS system, while SBW uses a rigid shaft. This, combine with flat chassis with all in-wheel motor configuration provide a new and simpler package of car. This paper will collect the data and analyse the effect of SAS on flat chassis vehicle. The result will then be compared with the conventional system currently used

The Design of Benevolence in The Tempest

The Tempest is one of several plays written by Shakespeare for which no source has been found.  Here, we find a unique pattern of sin, suffering, repentance and redemption. The characters are redeemed after they repent for the sins they have committed. Prospero keeping aside all his political wisdom trusts his own brother in the matter of states, who dethrones him from the dukedom. He suffers for his sin, repents and finally redeemed and overcomes his enemies. Ariel and Caliban are the two helping hands of Prospero in the benevolent design. The sea also proves to be an agent of redemption. The play’s ending highlights the restoration of a benevolent world

Teaching English Language through Literary Texts

No one can deny the fact that literature and language are closely related. Using literature as a tool to teach language is gaining acceptance as well as popularity in the present time. Brumfit and Carter already emphasized the role of literature as “an ally of language”. This use is not limited to teach basic language skills (i.e. reading, writing, listening and speaking only. It also improves vocabulary, grammar and pronunciation. Asking the students to translate literary texts into their mother tongue also helps a lot. Translation also helps in enhancing the lexical, syntactic, semantic, pragmatic and stylistic knowledge of the target language. Literary texts of the target language were read and translated, used as examples of good writing and “illustrations of the grammatical rules”

Acknowledging the Role of Gender in Organic farming, Informal Seed Sector in particular and krisoks’ Perspectives

Seed-the source of life. And woman holds the seed with the hope of new life. Instead of producing diverse seed from homestead agriculture, women are engaged traditionally to select seed, drying, preserving, protecting during storage, saving them from any economical crisis of the family. To ensure the seed quality and the perfect storage place & methods, women hold the vast knowledge. They decide the quantity and variety of seed to be saved and the method of preservation. Seed selection by women is a continuous activity. Working in the fields, they observe the plants and decide which seeds to select. They identify plants of good quality on the basis of size, grain formation and their resistance to pests and insects. Here a woman looks at the seed from the view of a seed scientist. Sometime the relation between seed and women is beyond 'rationale'. Sometime the women hold such knowledge about seed that are not also 'rational'. For instance, to cross the floodwater tying up the jackfruit seeds in a thin fabric. But interestingly, it could have quite scientific base. Now a day, Seed is not only related with women and indigenous knowledge but also with international trade and Intellectual Property Rights. The issue of the 'commodification' of seed and the drive towards the control of genetic resources and the materials derived from has raised environmental, social, political, ethical and economical questions. But for sure most of the credit of genetic resources goes to Women. So it is everyone's moral duty to give credit where credit is due to explore the tremendous potentialities of the informal seed sector in the development of a national 'seed security'. At least in the question of "SEED", man is not competitor to woman, but for sure complementary. We Krisoks do respect individuality of all forms of life – but under fulfillment of certain norms and values of its own community. The initial attempt of this paper is to understand the linkages between gender and biodiversity (including agrobiodiversity). Thus we have been trying to establish the social construction of gender roles and gender dimensions of conservation and resource use. Krisoks perspectives recognises that the empowerment of women is key to raising levels of nutrition, improving the production and distribution of food and agricultural products, and enhancing the living conditions and standards of rural live and livelihood. We all are a part of the “Nature” and Nature exists through us. This paper will shed some light on how with all the elements of nature we Krisoks are proffering new visions of enjoying “Notun Jibon” (New Life) towards a just and peaceful local community for women and men. Integrating women in all strata of agriculture and organic farming by local krisoks community on the way of life, and struggle with all the implications of the word ”happiness and sharing” - is the main thrust of our research