Papers by Dr. Suresh Kumar S
ATNA - JOURNAL OF TOURSIM STUDIES , 2023
Cultural Tourism implies "A type of tourism activity in which the visitor's essential motivation ... more Cultural Tourism implies "A type of tourism activity in which the visitor's essential motivation is to learn, discover, experience and consume the tangible and intangible cultural attractions/products in a tourism destination. Kerala, referred to as 'God's Own Country', enjoys unique geographical features and its classical art forms, colourful festivals, exotic cuisine etc., are some of the cultural marvels that attract travellers. Though the share of cultural tourism in the tourism development of the state has not been assessed in quantitative terms, the arrival of foreign and domestic tourists to cultural tourism destinations in Kerala undoubtedly accentuate the contribution of cultural tourism to the state's exchequer. The level of satisfaction that cultural products that the state tourism offers is subjected to analysis to explore the principal factors and confirm whether they are significant reflections of satisfaction from cultural products. The study asserts the need for redefining and revamping the role of cultural events, monuments such as the Synagogue and other religious places and aims to provide a high level of satisfaction so as to attract cultural tourists to destinations in Kerala.
Int. J. Leisure and Tourism Marketing, 2022
Cultural tourism as a branch of tourism has acquired dimensions of immense significance in the ec... more Cultural tourism as a branch of tourism has acquired dimensions of immense significance in the economic development of destinations, across the globe, enriched with a plethora of art-forms, folklores and rich cultural heritage. The promotion of such destinations in terms of induced perceptions and the experiences matching the expectations of tourists has been predominantly the marketers' visualisations of the means and measures of consumer satisfaction. The focus of this research is on destinations of cultural importance, in Kerala, an Indian state acclaimed to be one of the ten paradises of the world by the National Geographic Traveler. It aims to redefine pull motivators as pre-visit destination perceptions and probe how such perceived expectations and the post-visit destination experiences predict the tourists' satisfaction, which in turn reflects customer loyalty. The PLS path model results show that while destination perceptions and experiences significantly predict tourists' satisfaction, such satisfaction fails to predict loyalty.
Mukt Shabd Journal, 2020
Micro enterprises play a significant role in the economic development of a nation by stimulating ... more Micro enterprises play a significant role in the economic development of a nation by stimulating entrepreneurial skills, generating employment and contributing to national GDP. The growth and development of the nation in general and microenterprises in particular are impeded as these units face various marketing problems. This paper attempts to scan the marketing problems of micro enterprises currently functioning under Kudumbashree mission in Kerala. It indicates that the marketing problems has arisen mainly due to competition, limited size of the market, weakness of the products, high pricing, incapable distribution network and inadequate promotion which needs to be addressed.
Mukt Shabd Journal, 2020
Kerala economy is mainly supported by remittances from abroad and traditional industries. Among t... more Kerala economy is mainly supported by remittances from abroad and traditional industries. Among the traditional industries fisheries sector play a multifaceted role as an income provider both from domestic and export market, nutritious supporter to densely populated state, provider of high employment and as protectors of marine environment. Because of its importance, it becomes one's social responsibility to support the growth of industry by providing timely instructions and adopting prompt policy changes applicable to the related industrial community. This paper aims to highlight the present scenario of the fish processing industry of Kerala with respect to capacity utilization and growth trends. Both primary and secondary data were used to frame this paper. Multiple regression, Chow break point test etc. are applied on time series data to arrive at a conclusion.
Mukt Shabd Journal, 2020
The dimensions of the triangular relationship between companies, the state and the society has be... more The dimensions of the triangular relationship between companies, the state and the society has been rapidly transforming ever since the dawn of the present millennium and firms can no longer continue to act as independent entities regardless of the interest of the general public. The relationship between companies and society has been evolving from that of philanthropic coexistence to that where the mutual interest of all the stakeholders are given paramount importance. Corporate Social Responsibility (CSR) has become one of the key elements of sustainable business. In today's highly competitive globalised business world, success of a business depends on its acceptability to all stakeholders-shareholders, customers, employees, suppliers, government and general public. An examination of the present status of corporate social responsibility (CSR) would be an ideal starting ground for the conceptual development of suitable corporate business practices for emerging markets. Kerala, has achieved social and educational development comparable to most Western nations and has been acclaimed worldwide for its Kerala model of development though this achievement is not yet matched by industrial growth or economic development. With over a thousand companies registered and head quartered within the state coupled with many national and international ones operating in the state, will this regulatory mandate on CSR spending be a shot in the arm in social development of the state is a question that seeks answer from various quarters. The combined CSR spending in Kerala by all the qualified entities put together will work out to be around Rs 350 core to Rs 400 crore i. It is in the backdrop, the study examined the CSR effectiveness of seven drivers namely regulatory compliances, brand reputation, employee interests, community concerns, investor interests, environmental interests and sustainability initiatives as identified by companies in Kerala in design and implementation of their CSR initiatives. The study relied on structural equation modelling based on partial least squares path modelling (PLS-PM) using data collected from 91 executives, who are directly involved in CSR planning and implementation, from companies in Kerala-both in public and private sector. The first order constructs as mentioned as drivers of CSR were modelled with five measured variables each and the second order construct namely effectiveness of CSR was evaluated using standardised construct scores of the first-order constructs as indicators. The responses to measured variables were obtained on a 5-point scale and the parameters of model were tested for internal reliability, convergent and discriminant validity and fitness indices. The results of analysis revealed that overall model fit was adequate, with all the validity conditions being met, all the drivers of CSR showed a high coefficient of determination of more than 0.43 except the employee interests which showed an R-squared of only 0.32. The dependent variable namely sustainability where all the other 6 drivers converge showed an R-squared of 0.70.
Studies in Indian Place Names, 2020
It is the high tax rates of tax that encourage tax evasion and avoidance on a large scale. While ... more It is the high tax rates of tax that encourage tax evasion and avoidance on a large scale. While tax avoidance refers to arranging one’s financial affairs within the law so as to minimize taxation liabilities, tax-evasion fails to meet actual tax liabilities though, by not declaring income or profit. It is in this context that the contribution of personal taxes and corporate taxes and their contribution to total tax need to be
evaluated vis-Ă -vis the revenue generation envisaged through indirect taxes.
The relative importance of direct and indirect taxes can be measured from their percentage share in the total tax revenue. The data pertaining to 19-year period of this millennium reveals that the share of direct taxes in total tax revenue of the country which was 36.31 per cent in 2000-01 has gone up to 54.78 per cent in 2018-19 while the share of indirect taxes dropped from 63.69 per cent to 45.22 per cent during the same period. While the component of corporate tax in direct taxes showed a compounded annual growth rate (CAGR) of 16.62 per cent over the 19-year period, the CAGR of personal tax stood at 15.27 per cent and the CAGR of component of indirect tax in total tax was 11.45 per cent over the same period.
Considering the fact that taxation is inevitable for the government to raise revenues for its operations, infrastructure, welfare, education, defence etc., and its role in reducing inequality as well as in resource redistribution the revenue generated form taxation and the role of each of its constituents assumes added significance. The proposed paper is intended to look into the intricacies of components of direct taxes in India by explaining the variations in total tax revenue brought about by variations in the major components namely corporation tax and personal tax.
The study relies on regression modelling using data collected from statistics compiled by the Income tax department in India. Data pertaining to a 19-year period spanning from the commencement of first financial year this century i.e. 2000-01 to 2018-19 was subjected to regression. The validity tests of the regression model together with the pre-conditional tests for avoiding spurious regression are reported.
The study is inclined towards exposing the need for reforms in
corporate taxation and personal taxation, so that leakage in the system is effectively brought under control if not eliminated. The study assumes significance in the current context of constraints observed in financing growth of the economy, in spite of GST implementation.
GLOBAL BUSINESS & ECONOMICS ANTHOLOGY, 2017
The power of Sectoral indices computed and published by stock exchanges, in pricing of asset had ... more The power of Sectoral indices computed and published by stock exchanges, in pricing of asset had been overlooked and existing literature on sectoral indices had been limited to influence of
macroeconomic factors on them. The Single index Model (1964) postulates the market index to represent all the macroeconomic uncertainties. The Fama and French Three Factor Model (1993) is an
asset pricing model that expands on the Capital Asset Pricing Model (CAPM) by adding size and value factors to the market risk factor in CAPM. With single index model and multi factor model at the two
extremes, an intermediate model, that augments the technicals of a stock to its fundamentals, is the critical idea postulated here, to predict future prices. The model referred to Dual Index Model,
empirically tests the security returns of all thirty securities that are constituents of India’s premier
stock exchange index, i.e. The Bombay Stock Exchange’ (BSE) BSE- Sensex and its Sectoral Indices. The multiple regression model developed augments technical analysis to fundamentals of a stock by
incorporating company, industry and economy factors as intercept and slopes by assuming that industry factors are represented by excess returns on sectoral indices while economy factors are reflected in excess returns of general market index. The validated multiple regression models either Ordinary least squares or Auto Regressive Conditional Heteroskedasticty, has been used to forecast returns and predict prices of an out of sample period that follows the sample period. The
experimental result on predictive potential of the postulated model is a conclusive evidence of high degree of precision in forecast. The use of multi variate analysis with the postulated model can be effectively applied on any securities listed in the stock exchange irrespective of the fact whether it is included in computation of market index or not.
International Journal of Research and Analytical Reviews , 2018
International Journal of Management (IJM), 2016
The stock market analysis confined to esoteric jargons and dicey computations often scares the co... more The stock market analysis confined to esoteric jargons and dicey computations often scares the common investor away from such analysis, in spite of having access to personal computer and spreadsheets. The Single Index model though less complicated than Markowitz model fails to attract investors' analytical capability. This paper attempts to identify and explain the simple linear regression aspects of returns of a security in relation to a market index to which the security belongs. The security returns of two banks in India i.e. HDFC Bank and Bank of India are linearly regressed against NSE Nifty Bank Index to arrive at the systematic and unsystematic risks and their volatility to changes in index movements.
The International Journal Of Business & Management , 2016
International Journal of Entrepreneurship and Small Business (IJESB), 2019
Kudumbashree, meaning the family's prosperity, is one of the flagship programmes of the Governmen... more Kudumbashree, meaning the family's prosperity, is one of the flagship programmes of the Government of Kerala, centred on woman empowerment has been successful in giving hope to millions of impoverished women and their families in Kerala. Kudumbashree considers micro enterprises as a growth engine that triggers development process. Besides improving the standard of living of the families, women empowerment can go a long way in building gender equality and social acceptance of labour in the community. This study focuses on review of the production, marketing, asset management, profitability, government support and women empowerment issues faced by the microenterprise units under Kudumbashree. The study, based on primary data obtained from 279 samples (93 each from three districts) in Kerala, the 100% literate state of India, using factor analysis revealed seven principal components that accounted for variations in performances of microenterprise units under Kudumbashree mission in Kerala.
Capital Markets: Asset Pricing & Valuation eJournals, 2017
The concept of Single index model for pricing of assets has been widely used as a simple tool for... more The concept of Single index model for pricing of assets has been widely used as a simple tool for forecasting returns of individual securities in tune with the movements of a general market index. The Capital Asset Pricing Model, a footing based on the fact that the alpha component and the residual risk tends toward zero as the number of securities are increased, reduces the single-index model equation to the market return multiplied by the risky portfolio's beta. The fundamental analysis and technical analysis have been the pillar stones on which asset pricing was based. However, no attempts have been made so far to augment technicals to fundamentals of a security. The dual index model, proposed in this paper, attempts to augment fundamental factors affecting security prices, such as company, industry and economy factors into the technical framework of regressing excess return on individual security with the fundamentals as regressors. While the company factors are decomposed into the expected excess return of the individual stock due to firm-specific factors that is commonly denoted by its alpha coefficient (α) or intercept or predictor constant, the industry factors and economy factors represented by excess returns on sectoral index and market index respectively are assumed to additional predictors in the multi regression, where the excess returns on security returns is the predictand dependent variable. The effectiveness of the dual index model in precisely predicting returns, in the case of securities that are not constituents of the market index, is brought under the scanner and it has been conclusively evidenced that when sectoral index and market index are not highly correlated the dual index model is much superior to single index model in forecasting returns, be it forecast for a short period or long.
IOSR Journal of Business and Management (IOSR-JBM), 2018
Kudumbashree, meaning the family's prosperity, is a flagship program of the Government of Kerala,... more Kudumbashree, meaning the family's prosperity, is a flagship program of the Government of Kerala, centered on woman empowerment. Through the operation of micro enterprises, Kudumbashree cherishes the expectation that asset management ability of the poor women will increase along with their income, financial inclusion, and social empowerment as well as leadership skills. Women empowerment can go a long way in building gender equality and social acceptance of labor in the community. The study revealed that changes in production, marketing, asset management and profitability problems leads to changes in performance positively while government support and empowerment issues affect performances negatively.
Southern Economist,, 2017
At last they have found the gene that causes shyness. They could have found it earlier, but it wa... more At last they have found the gene that causes shyness. They could have found it earlier, but it was hiding behind some other genes. The same is the case with Sectoral indices of reputed bourses, the power of which had been overlooked, may be because it had been hiding behind major indices such as Dow Jones, Standard and Poor, FTSE, Sensex etc. With single index model and multi factor model at the two extremes, an intermediate model, that augments the technicals of a stock to its fundamentals, is the critical idea postulated here, to predict future prices. The model referred to as Dual Index Model, empirically tests the security returns of all three securities that are constituents of India's premier stock exchange the Bombay Stock Exchange general market index namely BSE-Sensex and its sectoral index called BSE-IT (Information Technology). The experimental result on predictive potential of the postulated model is a conclusive evidence of high degree of precision in forecast. The use of multiple regression analysis with the postulated model can be effectively applied on any securities listed in the stock exchange irrespective of the fact whether it is included in computation of market index or not.
International Journal of Advanced Research (IJAR), 2016
Southern Economist, 2017
The unleashing of the genie of demonetization in an attempt to address and resolve corruption, bl... more The unleashing of the genie of demonetization in an attempt to address and resolve corruption, black money, terrorism and counterfeit notes has been in the forefront ever since our prime minister declared legal tenders of denominations of Rs. 500 and Rs.100 invalid.
Infrastructure, the physical structures that provide the underpinnings for modern society, is a n... more Infrastructure, the physical structures that provide the underpinnings for modern society, is a necessary part of the development associated with a growing human population. However it can also have devastating impacts on the environment. With India poised for economic growth projecting a need of Rs 31 trillion (US$ 454.83 billion) to be spent on infrastructure development over the next five years, majority being in power, roads and urban infrastructure segments, the Green policies including direct and indirect regulations, financial incentives and funding of demonstration or research projects in India necessitates scrutiny in terms of the carbon footprints of infrastructure development. The S&P BSE-GREENEX Index is a veritable first step in creating a credible market based response mechanism in India, whereby both businesses and investors can rely upon purely quantitative and objective performance based signals, to assess "carbon performance". S&P BSE CARBONEX, the first of its kind index in India that takes a strategic view of organizational commitment to climate change mitigation, is a world class index that holistically incorporates strategies, disclosures, performance and action in areas of carbon emission to create a comprehensive benchmark that identifies a company's commitment to mitigate risks arising from climate change. The companies with the highest and lowest weightage in BSE-Greenex i.e. Tata Steel and Reliance Industrial Infrastructure are analysed in terms of variations in excess returns from their securities to the extent to which they can be explained by variation in returns from BSE sectoral indices of which these companies are constituents, namely BSE-infrastructure, Greenex and Carbonex. The variations in Greenex and carbonex could explain the variations in returns of Tata Steel and Reliance Industrial infrastructure more than the infrastructure index. The study thus highlights the fact that investors who are environmental friendly may track greenex and carbonex than infrastructure index for explaining the variations expected in the returns of infrastructure company securities.
Our Heritage, 2020
The country's GDP grew at a modest 4.5 per cent in the September quarter 2019, and the official d... more The country's GDP grew at a modest 4.5 per cent in the September quarter 2019, and the official data released showed a sixth straight fall in quarterly GDP growth and also the first time fall below the psychologically important 5 per cent mark in almost seven years. It is in this context that the festive sales hosted by the e-commerce sector ended first week of October 2019 where the e-tailers in India, mainly Amazon and Flipkart, achieved a record $3 billion (about Rs 19,000 crore) of Gross M erchandise Value (GM V) during the period as per a report by consulting firm RedSeer has to be evaluated. The success of business models, whether it be in e-tailing (amazon, flip-kart etc.), transportation (Uber, Ola Cabs etc..) or online ordering from eatery apps (Ubereats, Swiggy, Zomato etc.) despite the reverse trend in GDP growth and sustained recession, needs to be evaluated in the context of innovation applied and technology adoption. It is in the backdrop of above said upsurge of business model innovations that can combat the challenges in downfalls of an economy and/ or ever-increasing competition on a global platform, the effectiveness of business models assumes significance. A laggard manager clinging on to his age-old business model is now forced to look forward to articulate their existing business model, since the core enabler of a firm's performance is an effective business model. Understanding the possibilities for innovating through theoretical insight and practical guidelines needs identification of types and the development of a typology of business model innovations. The online eatery business of restaurants, with key partners such as payment processors, mapping data providers and delivery bike drivers through channels such as mobile apps and telephone ensures customer relations by providing convenience in the form of wide choice of sourcing and menu as well as easy payments has found its own way into urban and semi-urban centres of almost all the
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Papers by Dr. Suresh Kumar S
evaluated vis-Ă -vis the revenue generation envisaged through indirect taxes.
The relative importance of direct and indirect taxes can be measured from their percentage share in the total tax revenue. The data pertaining to 19-year period of this millennium reveals that the share of direct taxes in total tax revenue of the country which was 36.31 per cent in 2000-01 has gone up to 54.78 per cent in 2018-19 while the share of indirect taxes dropped from 63.69 per cent to 45.22 per cent during the same period. While the component of corporate tax in direct taxes showed a compounded annual growth rate (CAGR) of 16.62 per cent over the 19-year period, the CAGR of personal tax stood at 15.27 per cent and the CAGR of component of indirect tax in total tax was 11.45 per cent over the same period.
Considering the fact that taxation is inevitable for the government to raise revenues for its operations, infrastructure, welfare, education, defence etc., and its role in reducing inequality as well as in resource redistribution the revenue generated form taxation and the role of each of its constituents assumes added significance. The proposed paper is intended to look into the intricacies of components of direct taxes in India by explaining the variations in total tax revenue brought about by variations in the major components namely corporation tax and personal tax.
The study relies on regression modelling using data collected from statistics compiled by the Income tax department in India. Data pertaining to a 19-year period spanning from the commencement of first financial year this century i.e. 2000-01 to 2018-19 was subjected to regression. The validity tests of the regression model together with the pre-conditional tests for avoiding spurious regression are reported.
The study is inclined towards exposing the need for reforms in
corporate taxation and personal taxation, so that leakage in the system is effectively brought under control if not eliminated. The study assumes significance in the current context of constraints observed in financing growth of the economy, in spite of GST implementation.
macroeconomic factors on them. The Single index Model (1964) postulates the market index to represent all the macroeconomic uncertainties. The Fama and French Three Factor Model (1993) is an
asset pricing model that expands on the Capital Asset Pricing Model (CAPM) by adding size and value factors to the market risk factor in CAPM. With single index model and multi factor model at the two
extremes, an intermediate model, that augments the technicals of a stock to its fundamentals, is the critical idea postulated here, to predict future prices. The model referred to Dual Index Model,
empirically tests the security returns of all thirty securities that are constituents of India’s premier
stock exchange index, i.e. The Bombay Stock Exchange’ (BSE) BSE- Sensex and its Sectoral Indices. The multiple regression model developed augments technical analysis to fundamentals of a stock by
incorporating company, industry and economy factors as intercept and slopes by assuming that industry factors are represented by excess returns on sectoral indices while economy factors are reflected in excess returns of general market index. The validated multiple regression models either Ordinary least squares or Auto Regressive Conditional Heteroskedasticty, has been used to forecast returns and predict prices of an out of sample period that follows the sample period. The
experimental result on predictive potential of the postulated model is a conclusive evidence of high degree of precision in forecast. The use of multi variate analysis with the postulated model can be effectively applied on any securities listed in the stock exchange irrespective of the fact whether it is included in computation of market index or not.
evaluated vis-Ă -vis the revenue generation envisaged through indirect taxes.
The relative importance of direct and indirect taxes can be measured from their percentage share in the total tax revenue. The data pertaining to 19-year period of this millennium reveals that the share of direct taxes in total tax revenue of the country which was 36.31 per cent in 2000-01 has gone up to 54.78 per cent in 2018-19 while the share of indirect taxes dropped from 63.69 per cent to 45.22 per cent during the same period. While the component of corporate tax in direct taxes showed a compounded annual growth rate (CAGR) of 16.62 per cent over the 19-year period, the CAGR of personal tax stood at 15.27 per cent and the CAGR of component of indirect tax in total tax was 11.45 per cent over the same period.
Considering the fact that taxation is inevitable for the government to raise revenues for its operations, infrastructure, welfare, education, defence etc., and its role in reducing inequality as well as in resource redistribution the revenue generated form taxation and the role of each of its constituents assumes added significance. The proposed paper is intended to look into the intricacies of components of direct taxes in India by explaining the variations in total tax revenue brought about by variations in the major components namely corporation tax and personal tax.
The study relies on regression modelling using data collected from statistics compiled by the Income tax department in India. Data pertaining to a 19-year period spanning from the commencement of first financial year this century i.e. 2000-01 to 2018-19 was subjected to regression. The validity tests of the regression model together with the pre-conditional tests for avoiding spurious regression are reported.
The study is inclined towards exposing the need for reforms in
corporate taxation and personal taxation, so that leakage in the system is effectively brought under control if not eliminated. The study assumes significance in the current context of constraints observed in financing growth of the economy, in spite of GST implementation.
macroeconomic factors on them. The Single index Model (1964) postulates the market index to represent all the macroeconomic uncertainties. The Fama and French Three Factor Model (1993) is an
asset pricing model that expands on the Capital Asset Pricing Model (CAPM) by adding size and value factors to the market risk factor in CAPM. With single index model and multi factor model at the two
extremes, an intermediate model, that augments the technicals of a stock to its fundamentals, is the critical idea postulated here, to predict future prices. The model referred to Dual Index Model,
empirically tests the security returns of all thirty securities that are constituents of India’s premier
stock exchange index, i.e. The Bombay Stock Exchange’ (BSE) BSE- Sensex and its Sectoral Indices. The multiple regression model developed augments technical analysis to fundamentals of a stock by
incorporating company, industry and economy factors as intercept and slopes by assuming that industry factors are represented by excess returns on sectoral indices while economy factors are reflected in excess returns of general market index. The validated multiple regression models either Ordinary least squares or Auto Regressive Conditional Heteroskedasticty, has been used to forecast returns and predict prices of an out of sample period that follows the sample period. The
experimental result on predictive potential of the postulated model is a conclusive evidence of high degree of precision in forecast. The use of multi variate analysis with the postulated model can be effectively applied on any securities listed in the stock exchange irrespective of the fact whether it is included in computation of market index or not.