Informatics Publishing Limited

Bidyut Jyoti Bhattacharjee ¹, Kanya Kumari Das ²

Affiliations
1 Department of Commerce, B.H.College, Howly, Barpeta, Assam–781316, IN
2 B.H. College, Howly, Barpeta, Assam–781316, IN

Abstract

Rural tourism includes a range of activities, services and amenities provided by farmers and rural people to attract tourists to their area in order to generate extra income for their business. This type of tourism enhances the revenue of government of a country as well as earnings of the rural community. The Assam government at present introduced four rural tourism projects at four resourceful villages of Assam. The present study makes an attempt to evaluate the performance of Durgapur Rural Tourism Project with a view to examine the potentialities and challenges of the project. The study observed that although the village has resourceful commodities but the site has been suffering since its inception to attract the tourist affecting into sustainability of the project and strategy of the government. To ensure the increase in the revenue of the project as well as local community, it is necessary to moderate the site with resourceful rural activities that can attract the tourist easily and also adopt steps for monitoring the site regularly by appointing some agency. The study also recommended that advertising and promotional campaign must be introduced to ensure the rise of number of tourist.

Keywords

Rural Tourism, Sustainability, Entrepreneurship, Continuous Monitoring.

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Bidyut Jyoti Bhattacharjee ¹

Affiliations
1 B.H. College, Howly, P.O- Howly, Dist: Barpeta, Assam, IN

Abstract

Finance is the lifeblood of the business. It is well known that finance is required besides the requirement of fixed and working capital for undertaking the program of extension, reorganization or expansion. Now a days market is open and finance is raised through issue of shares, debenture/bond from domestic as well as international capital market in the form of GDR (Global Deposit Receipts), ADR (American Deposit Receipts) and FCCB (Foreign Currency Convertible Bonds) and from the wide range of financial institutions. But, the finance is not free of cost. The suppliers of various sources of funds have a charge on the income of organization, like; dividend for shareholders, interest for bond/debenture holders; dividend /interest for non-banking financial companies, foreign investors and so on. This charge on each source capital is known as cost of capital. The present study focuses on whether cost of capital has any relationship with financial performance of companies like capital structure. For this purpose 151 top Indian companies on the basis of market capitalization 2007 have been selected and classified under different industrial groups. The statistical tools of ANOVA, correlation and multiple regression method have been applied. The study found that change of cost of capital affects the company's profitability position. The higher cost of capital adversely affects the profitability position of the companies. Specially, Indian larger companies should necessary to give proper emphasize at the time of procuring the funds. Again the relationship between cost of capital and companies performance is not specific rather depends on nature of industry as different companies are regulating under different regulations.

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Bidyut Jyoti Bhattacharjee ¹

Affiliations
1 B.H. College, Howly, Assam, IN

Abstract

The capital structure of a firm consists of debt and equity and the firms try to maintain appropriate financing mix to attain target capital structure. l\/lodern capital structure theory stems from influential finance article in 1958 by Nobel laureates Professor Franco Modigliani and Merton H. Miller Many theories hence developed over the years emphasizing on the determinants of capital structure decisions. The trade-off theory and signaling theory in particular play a crucial role in identifying and testing the various properties of the leverage decisions. This paper briefly tries to evaluate whether some a priori assumed macroeconomic determinants can be related to the leverage. For this purpose, an empirical study was undertaken on Indian industries covering 151 selected firms categorised 13 industrial sector Following the developments in the contemporaneous estimation techniques that allow us to use time series and cross section data concurrently the panel data methodology has been applied to the actual data to compute the leverage ratios for each firm within the time period 2003-04 to2007-08 to determine to what extent the macroeconomic determinants affect the leverage ratios under various groupings such as, size, growth opportunities, profitability liquidity and dividend payout A major findings on the attribute of various explanatory variable used in the regression model is that the variables like liquidity and growth in terms of performance of the firm have significant influence on debt-equity ratio. In other words, sustainable growth along with credit worthiness of the firm influences debt-equity ratio i.e., degree of financial leverage. Further, the results from econometrical analysis reveal that determinants are industry specific, which implies that the weight of the explanatory variables varies from sector to sector The paper finally highlights creditor rights, maintenance of legal reserves and law enforcement, directors rights on borrowing, risk assessment are essential determinants of capital structure decision of a firm.

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Kartik Kalita ¹, Bidyut Jyoti Bhattacharjee ¹

Affiliations
1 Department of Commerce, B.H.College, Howly, IN

Abstract

The present study is to examine whether MNCs operating in conflict zones could employ CSR to create both for themselves and for the local community in which they operated. This paper mainly deals with the CSR initiatives taken by Guwahati Refinery as a subdivision of Indian Oil Corporation Limited. Guwahati Refinery is one of the Refinery of Indian Oil Corporation Limited under Refinery Divisions in the development of North East India which is also a conflict zone for the industrial development. In this study the IOCL is selected because it is one of the major industrial establishment that operating in North East India since long time. The findings suggest that significant investment in CSR operations based on a carefully designed need expectations analysis in such conflict zones, not only for business profit but also for local community development.

Keywords

Corporate Social Responsibility, Conflict Zone, Indian Oil Corporation, Guwahati Refinery, North East India.

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