IOSR-JEF   Volume-1 ~ Issue-2

Abstract: Indian Mutual Funds are playing a very crucial developmental role in allocating resources in the emerging market economy. Mutual funds act as a financial intermediary in fund mobilization and investment. The essence of a Mutual Fund is the diversified portfolio of investment which diversifies and reduces the risk by spreading out the investor's money across available or different types of investments. This study analyzes the behaviour of few selected Mutual Fund Schemes during the period of December 2008 to December 2012 in comparison to Sensex Return. I have also analysed the managerial efficiency in stock selection through Alpha, Beta and RSQ and their variability for each of these mutual funds in this period. It is generally believed that mutual funds are less volatile as the managers use their expertise in selecting the appropriate stocks for the mutual fund portfolio. The data is analyzed using Pearson's Product Moment Correlation Method, the coefficient of variation of the return generated by the Sensex and the Mutual Fund Schemes to determine a more stable series and ANOVA for the variation in Alpha, Beta and RSQ of the funds. It was found that in the given study period the variability in the return of the Mutual Fund Schemes are between moderate to high and thus these Mutual Fund Schemes may not be as stable as they seem to be and the fund managers were not so efficient in selecting stocks for all the funds. The investors should weigh their options carefully before deciding to invest in a Mutual Fund.

Key Words: Equity Diversified Mutual Fund Schemes, Managerial Efficiency, Sensex Return, Stock Selection Ability of Managers, Variability in return.

Abstract: In today's globalized economy, through which countries are vying for economic strength, prosperity, and the capability to compete in the global economy all reckons on valuing innovation, harnessing its potential and laying it to work for the benefit of all the country's citizens. This paper aims at investigating the Namibian national innovation system. We explore the concept of national innovation system and discuss the significance in fostering innovation for the country's economy. Development stages of Namibia in terms of innovation are also examined, given that national economic performance is closely related to the country's effectiveness to create an environment that is favorable for generating innovations. The evolution and analyses of Namibian NIS by determining innovation actors, defining the linkages between them through a "3Ms triangle" and evaluating their contribution to the national innovativeness and competitiveness are covered. As a final point, we categorize the Namibian national innovation system according to its development stage and draw some strategic implications in order to strengthen the Namibian national innovation system.

Keywords: National Innovation System, Real GDP, National Development Plan

Abstract: Entrepreneurship lies at the core of the process of economic development. Entrepreneurial motivation, in India, is present in a dormant way, which is palpable when we observe the petty "tea - stalls" doing enormous business across the villages of India, selling "tit-bits‟ with tea. However, we find that their entrepreneurial capacities are severely constrained due to the absence of proper institutional mechanism of transforming unproductive wealth into capital. In the absence of a conducive entrepreneurial eco-system, these micro businesses fail to grow and reap the benefits of scale and scope economies. Typically, people can be found, living in shanty towns, functioning as street vendors and doing family based businesses that do not generate taxes, (Soto, 2001). Thus, though India is teeming with street entrepreneurs, hawkers and vendors, using their skills, frugal innovations, and physical assets to provide a wide variety of goods and services, which are capable of capturing the interest of the consumers, but, this is only an evidence to affirm the existence of a vast under-ground economy (Daodu, 2001), also known as "the informal-sector‟, running parallel to the main one.