A Comparison of Financial Performance of Islamic and Conventional Banks in Bahrain

The development of service sector is crucial in contributing to the GDP of any nation. The banking system plays a key role in the development of a country. The commercial banking system dominates the financial sector by dealing with the majority of financial transactions of a country. The existence of Islamic and conventional banks has contributed for the development of the economy. Commercial banks in Bahrain consist of interest-based conventional banks and interest-free Islamic banks (based on Islamic shariah). The performance of conventional and non-conventional banks is satisfactory in Bahrain. The present study focuses on the comparative analysis of financial performance of Islamic and conventional banks in terms of cost and income in Bahrain. The study uses financial tools like profitability, liquidity and solvency, commitment to economy and community, efficiency and productivity of both streams of banks.

Salt intrusion study in Cochin estuary - using empirical models

304-313Intensive measurements of salt intrusion are taken at high and low waters during spring and neap tide for each month respectively from June 2007 to May 2008. Salt intrusion length at high water varied from 10 km in monsoon 2008 to more than 40 km in pre monsoon 2007. Salinity intrusion mostly depends on the fresh water discharge rather than spring-neap tidal oscillations. Stratification parameter of salinity varied with the distance along the estuary, tide and freshwater discharge indicating that the Cochin estuary experiences a transition from partially or well mixed estuary during post and pre monsoon to a strongly stratified estuary during the monsoon season. Instead of undergoing the entire process of data collection of all the parameters, for a prolonged period, which is quite expensive and time consuming, certain predictive models are preferred. A predictive model uses parameters which are measurable and quantifiable variables and determined through empirical relations. Four empirical models have been applied to the Cochin estuary in the present study to identify the most suitable model for predicting the salt intrusion length. Comparison of the obtained results indicate that the model of Van der Burgh (1972) is the most suitable empirical model for prediction of the salinity intrusion length in the Cochin estuary with the least RMS error of (6.1) and MAE of (4.8). </span

Pricing and performance of IPOs: Evidence from Indian stock market

This study examines listing day performance of IPOs, book-built and fixed-price IPOs, post-listing aftermarket performance of IPOs, book-built and fixed-price IPOs in the Indian stock market. We examine pricing as well as long run performance of 464 (365 book-built IPOs and 99 fixed-price IPOs) Indian IPOs that went public between 2001 and 2011. The study covers 15 years from the financial year 2001 to 2015. Analysis of the results reveals that compared to fixed-price IPOs, book-built IPOs are underpriced by lesser magnitude. Moreover, book-built IPOs are associated with negative cumulative average abnormal returns (CAARs) up to five years and beyond, the negative CAARs associated with fixed-price IPOs turn positive after one and one-half year and continue to be positive thereafter

Windows of opportunity and seasoned equity offerings: An empirical study

Taking a sample of seasoned equity offerings (SEOs) by firms listed on Bombay Stock Exchange (BSE) from the year 1992 to 2012, we examine two of the key issues concerning SEOs. First, whether SEOs are underpriced, issued at a price lower than the prevailing market price; and second, whether companies time their issues. Study of 162 SEOs exhibits significant underpricing at 1% significance level leading us to conclude that SEOs in India are significantly underpriced. Analysis of abnormal returns for 114 SEOs taking different event windows surrounding issue opening dates reveals that, except for the −1 to + 1 event window, CAAR for all other event windows are significantly negative. This leads us to conclude that investors in India experience significantly negative abnormal returns surrounding SEO issue opening. Overall, findings of the study reveal that SEOs in India are underpriced and that there exist windows of opportunity for SEOs in India