Financial Economics and Sustainability Issues in India


Dr. Vaibhav

Dr. Vaibhav is Assistant Professor in Faculty of Commerce, Banaras Hindu University, Dr Vaibhav is UGC-NET qualified, and he holds B. Com (Gold Medalist), M. Com and M.B.A. degree and followed Stock Market Operations as his Doctoral pursuit. Besides finance, he has been teaching research methodology at P.G. and Ph. D level and specializes in Financial Econometrics. He has eight years of teaching and administrative experience in BHU. He commands 40 national papers and 7 internationals papers as well as has presented papers in more than 65 national and international seminars. He has also served as rapporteur, coordinator, session chair, key note speaker and also organized various/seminars/conferences and workshops. To his credit are several awards and recognitions at university level for his co-curricular and philanthropist assignments. Currently he is also serving as NSS officer and looking after student’s placement work for the faculty.

Shri Narayan Pandey is perusing his Doctoral Research under Junior Research Fellowship scheme (JRF) from Faculty of Commerce, Banaras Hindu University. He is keenly following capital market as his area of special interest. He completed his master from the same university with Finance as specialization and graduated from University of Allahabad. He has presented papers in many national and international seminars and has also actively participated in many academic workshops. He has also worked as rapporteur and member of organizing committees of few seminars. To his credit are many research papers published in national and international journal including those of institutional and impact factor journals. He has also reviewed few books and has jointly edited one book. He has one year teaching experience at graduation level in Faculty of Commerce, BHU.

Gautam Pratap Pradhan

Mr. Gautam Pratap Pradhan is M.Com and is perusing his Doctoral Research under Junior Research Fellowship scheme (JRF) from Faculty of Commerce, Banaras Hindu University. He is UGC-NET/JRF qualified. He has 10 publications in various national and international journals. He has presented papers in more than 20 national and international seminars and conferences. His area of interest is accounting and finance with special inclination towards short term debt instruments. He is member of various educational societies. He has various philanthropist assignments to his name.



The scientific breakthrough in financial modeling was shaped by an extraordinary flow of financial innovation that coincided with revolutionary changes in the world financial market and institutions. As the global financial market is integrated, financial modeling has become more complex in this uncertain environment, requiring higher analytical expertise. In such situation, the term Financial Economics emerged into fashion.

The confluence of the two disciplines, economics and finance, is frequently termed as Financial Economics (JEL: G) to describe the application of general micro economic theory to the special problems encountered in finance. Whenever, decision making in uncertainty is required, we need some scientific way out. Financial Economics paves the way for decision making under uncertainty in the context of the financial markets, and the resultant economic and financial models and principles. The prime concerns of Financial Economics can be bifurcated as asset pricing/ investment theory and corporate finance; prospective provider of the capital and optimizer of the capital respectively. This book is an endeavour to touch the applicative aspects of financial economics in India scenario, as Indian financial market is no more isolated after the liberalisation efforts of 1992.

Sustainability issues are not only affairs of ecological economics but are concerns of financial economics too. In a broader context, social, environmental and economic demands are considered the three pillars of sustainability. In corporate environment; they are often referred to as the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. Financial institutions can strengthen their portfolio by systematically evaluating environmental and social risks of lending and investing activities in order to minimize financial liabilities and reputational risks arising out of environmental and social issues. It is opined that the expenditure upon sustainability issues is in fact an investment.

This volume is a humble effort of the editors to deal with the issue of finance and sustainability at one place. In all, the book comprises of 16 papers authored by scholars, academicians and professionals across the country. Minor modification has been done with the paper whenever required. Efforts have been made to follow the standard academic research report writing practice. APA fashion (6th edition) has been adopted as citation and referencing style. We hope that this volume will match with the academic standards and serve as literary motivation for further research.

Dr. Vaibhav

Shri Narayan Pandey

Gautam Pratap Pradhan

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