Aravind M
@tkmim.ac.in
Associate Professor (Finance)
TKM Institute of Management , Kollam, Kerala, India
Dr Aravind M. is an Associate Professor in the Finance Department at the TKM Institute of Management. He has more than fourteen years of experience in academia and industry. He holds MBA and Ph.D degrees and has cleared UGC NET in Management. He has published more than 30 research articles in journals of national and international repute and a significant number of them are indexed in SCOPUS and ABDC. He has presented research papers in several seminars and conferences. He has also authored one book on Financial Management and published by Viva Books, New Delhi. He is also serving as an external expert in the editorial board of two national journals and one international journal. He has carried out numerous consultancy works for the government agencies as well as for the corporate. He is a life member of Indian Accounting Association.
EDUCATION
B.Com (Taxation Law and Practice) from University of Kerala (2002-05)
MBA (Finance) from University of Kerala (2005-07)
UGC NET (Management), The University Grants Commission (2009)
PhD (Management Studies), Sri Chandrasekharendra Saraswathi Viswa Mahavidyalaya (Kanchi University), 2009- 2014
RESEARCH INTERESTS
Financial Management, FX Market, Financial Market, Working Capital Management, Market Behavior, Trading Strategies
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
Aravind Mohanan Potti, Vinith Kumar Nair, and Babu George
University of Primorska Press
Aravind M
Universidad Nacional Autonoma de Mexico
The exchange rate theories argue that the parity between two currencies is determined by various macro-economic factors prevailing across economies. It is quite interesting to examine what happened to currency exchange rates in a period of inactivity for the overall economies due to COVID-19 outbreak. In this context a study was carried out during the period of turbulence to empirically test whether foreign exchange market in India moves in accordance with the principles of exchange rate theories. The bound test of co-integration (Pesaran,et.al., 2001) was employed to examine the evidence of a long-run relationship between the macroeconomic variables with the exchange rate of hard currencies such as USD, EUR, GBP and JPY against INR. The cross sectional relationship was further validated by using auto regressive distributed lag (ARDL) model. The absolute version of purchasing power parity theory (PPP) is evident in the Indian foreign exchange market as the analysis established a strong integration of Wholesale Price Index (WPI) and Consumer Price Index (CPI) with leading hard currencies such as USD, EUR and JPY. The association of 364 days Treasury bill return (TBR) and government Bond Return (GBR) further confirmed the postulation of Interest Rate Parity (IRP) theory as any increase in interest rate can cause exchange rate depreciation to INR. Results of this study add to the existing literature by confirming the bondage between price levels across the economies and the exchange rates during COVID-*
Aravind Mohanan Potti and Manojkrishnan Champettil Gopalakrishna Pillai
UNIMAS Publisher
The COVID-19 pandemic hit at its worse on the economic and social conditions of the workers across the world. Studying how COVID-19 has created anxiety among the private workforce in Kerala can contribute significant input to the policymakers. The place of this research is also important as Kerala is a state with a strong public health care system and a sizeable number of workers from Kerala are employed in the private sector. The objectives of this study are to measure the direct impact of COVID-19 on workforce anxiety and to analyze the mediation effect of personal finance on workforce anxiety during the COVID-19 pandemic. Principal Component Analysis was done to identify the influential variables under each factor. After ensuring the reliability, validity, and consistency of the questions, the regression analysis was carried out. The statistical software’s IBM SPSS Statistics 20 and PROCESS macro 3.5 were used for data analysis. The initial hypothesis (H1) of this study was COVID-19 has a direct relationship with the worker's anxiety. The result of the regression analysis confirmed this assumption. The mediating role of personal finance during the impact of COVID-19 on the worker's anxiety was tested through the bootstrapping method and the indirect effect of COVID-19 on the worker's anxiety through personal finance is also positive and significant. This study is suggesting numerous measures to the policymakers and to the corporate for addressing the worker's anxiety in the social and economic levels.
Aravind M.
Informa UK Limited
Manojkrishnan C G and Aravind M
Univerzita Pardubice
Human beings across the globe irrespective of caste and creed, culture, economic and geographic distances, are facing a very strange time, struggling and fighting against a pandemic COVID-19 On analyzing the literature, it is understood that most of the research scholars have confined their study to the clinical and therapeutic aspects of COVID-19 and there are a lesser number of studies related to the impact of COVID-19 on economic, psychological, social and behavioral perspective This study is carried out to propose a new theory that can integrate the social and financial stress of the labor force during the pandemic situation For this purpose, we have taken lessons from the social stress theory and prospect theory The research extensively covers 420 samples duly collected from the labor force working across Kerala State, India In this study, we have identified three major social stress constructs viz , Governance, Personal and Societal among the labor force through the Common Factor Analysis (CFA) method We have also observed three major stressors using Cohen's effect size;they are difficulty in diagnosing the disease, worry of the disease that it will get affected to the dear ones, and the fear of using public utilities The general presumption of our theoretical model was identified stress constructs can create social stress among labor force, which was reconfirmed through the Covariance Based Structural Equation Modeling Approach (CB-SEM) The risk and benefit of the pandemic situation were further examined mathematically It is interestingly observed that during COVID-19 pandemic the labor force across Kerala will value health and wellness as the most important gain than financial benefits © The Author(s) 2020
Aravind M. and Jayaram Nayar
Emerald
PurposeThe Oman economy is dominated by production and export of petroleum products and an overdependence on oil revenue, which may have contributed to the continuance of the “resource curse” phenomenon. The purpose of this research is to examine the co-integration of oil with macroeconomic indicators of Oman and of suggesting some policy reform measures to trim down overdependence on oil.Design/methodology/approachThe authors culled out data from the annual reports published by the Central Bank of Oman from 1975 to 2016. Considering oil price and oil export volume as regressors, the long-term integration with other macroeconomic indicators was examined by using the bound test. Further, auto regressive distributed lag (ARDL) model was also derived to check the impact of these cross-sectional relations.FindingsOil price is observed to have a strong long-term significant relation with all the macroeconomic variables used in this study. However, the volumes of oil exports do not appear to have significant influence on GDP and consumption but do naturally sway other variables. This indicates that less elasticity of consumption to the flow of macro income, because the consumption in the Omani economy is driven by perceived future income. Oil export revenue is not seems to be much impacting on the real sector as the deficits are funded by the government through compensatory spending. Oil prices and oil exports have exhibited a strong long-term integration with variables such as gross domestic savings (GDS), credit to government (C2G), credit to private (C2P), demand deposits (DD) and time deposits (TD). This hints that oil boom does constitute the key source of funding of the financial sector of Oman.Research limitations/implicationsThis study offers a generalized submission to support the real sector of Oman to lead out of a resource curse through diversification. The study however does not provide industrial groupings to assess the impact of fluctuations in oil prices.Originality/valueThis research has confirmed the existence of “resource movement” effect and “spending effect” in Oman economy. The nation needs to take radical measures to come out of this phenomenon. For addressing this we have suggested the modified version of Shumpeterian model of creative destruction. In this model we call for demolishing the oil dependent structure with a diversification structure. The new move can bring more positive effect on real and financial sectors of the economy.
Aravind M and Manojkrishnan C G
GP Innovations Pvt. Ltd.
The purpose of this study is to examine how Covid 19 outbreak has affected leading pharmaceutical stocks listed with the National Stock Exchange of India. We have selected ten leading pharmaceutical companies listed with NSE, and the selection was purely based on the market capitalization of the companies. The general hypothecation of this study was the pharmaceutical stocks will move against the general market trend (contrarian effect). The study period was classified in to pre-crisis period and Covid 19 crisis period. The data consists of 123 daily price observations of the selected 10 pharmaceutical companies. The period of study is ranging from 3rd September 2019 to 28th February 2020. The results reported that momentum effect is persisting with pharmaceutical stocks as the pharmaceutical stocks are moving in accordance with the general benchmarking index. Only two companies, namely Aurobindo Pharma Ltd and Lupin Ltd reported with varied return trend during the study period. This study also signifies that companies like Sun Pharma, Cipla, Glenmark with strong brand reputation were seems to be sustaining in the crisis period in spite of the general falling market trend. This paper is strongly urge the need for backward integration and enhanced research and development activities to Indian Pharmaceutical sector for ensuring their sustainable long-run operations.
Potti Mohanan
Centre for Evaluation in Education and Science (CEON/CEES)
Aravind M.
SAGE Publications
Examining the interrelationship between currency market volatility and stock market volatility will create abundant trading opportunities to the investors irrespective of whether the return of one market is moving up or down. This research work intended to examine how the exchange rate volatility between Indian rupee and foreign currencies, such as US dollar, euro, Japanese yen and British pound, can influence the return and volatility of the Indian stock market. The research data extensively cover daily price observations of foreign currencies as well as Nifty index for 1500 days. The generalized autoregressive conditional heteroskedasticity (GARCH) is used for modelling foreign exchange (FX) rates volatility and its impact across Indian stock market. The mean equation of the model confirms that any appreciation in Indian rupee will lead to channelization of more funds towards stock market. Further, it is validated that the volatility shocks between the stock market and currency market are quite persistent. Besides the model also points that the volatility attributes are very strong between US dollar and Nifty. The Granger causality test wrap up with a finding that the volatility shocks of British pound have a causal relation with Nifty return. The result of this study will help the domestic as well as foreign investors in favour of portfolio diversification decisions. The study also spots that the policymakers can indirectly intervene into stock market through monitory policy measures.
RECENT SCHOLAR PUBLICATIONS
MOST CITED SCHOLAR PUBLICATIONS
CONSULTANCY
1. Task force member of Third Party Evaluation of “Medium Term Framework Scheme” of the Ministry of Commerce & Industry, Govt. of India, Client: Cashew Export Promotion Council of India, The report was submitted on July 2020.
2. Data Analyst for the project- “Market Research for Mathrubhumi” undertaken by TKM Institute of Management., Client: MAITRY Advertisers and Mathrubhumi Pvt Ltd.
3. Submitted a study report entitled “Financing the Cashew Industry: Issues and Probable Solutions” to the Government of Kerala and to the Reserve Bank of India, Independent research carried out by TKM Institute of Management, Completed on August 2018
4. Team member for preparing a project report for J-Force Industries, Mughathala (A micro enterprise) for obtaining working capital loan from the Kerala State , Client: Business incubator, TKM Institute of Management