Conference Dates: July 5 - 7, 2018
Venue: Mercure Paris Porte de Versailles Expo Hotel, Paris, France.
Dear & Esteemed Colleagues,
We are extremely pleased to announce the Tenth European Academic Research Conference on Global Business, Economics, Finance and Social Sciences (EAR18France Conference) which will be held in Mercure Paris Porte de Versailles Expo Hotel, Paris, France.
The primary focus of this upcoming conference is to bring together academicians, scholars, economists, bankers, market analysts and specialists in various fields of research interest in social sciences research to present their research papers and share their knowledge and experience on contemporary issues affecting the global economy. We, in addition to regular paper presentations, organize invited lectures/panel discussion on selected topics closely synchronized with the conference theme and topics related to Global Business, Economics, Finance, Banking and Social Sciences.
We are also planning to organize a panel discussion on the following topic on day 1 of the conference. We are pretty confident that the discussion would greatly help academicians and scholars
Topic: Enhancing the conceptual skills of your students! Your role as a mentor?
Risk management has assumed greater significance in light of the global recession which shook the world in 2008. Quite obviously, banking and financial institutions are Research studies on risk and recessions guide us to conclude that network among different entities might cause risks and losses. A financial analyst or economist should carefully take note of it and take appropriate preventive measures to safeguard the entities and investments from incurring losses. Continuous ignorance of such key aspects might lead to heavy losses and perhaps, recessions. It is a well-known fact that recessions might cause extensive damage not only to a particular country but to an entire economy. So, one has to carefully take note of the inter-connectedness among different firms and entities operating in a business environment. So, identifying and analysing the key risk elements is very important to avoid recurrence of such unsavoury incidents in the future. The 2008 global recession took place on account of several contributing factors. Primary cause of the recession was owing to the housing bubble where that sector witnessed unprecedented and irrational growth leading to the collapse of the sector. Experts have put forth their views with different views.
For example, according to Professor Joseph Stiglitz, the financial analyst did not take note of the risks involved in the housing market. So, the ultimate result is that when borrowers did not repay the loan amount, the risk affected the banking establishments. Some of the major issues we face during these challenging periods is that there are downturns, bankruptcy risks, too-big-to-fail problems and also economic recessions at the height of such issues.
Economists argue that the most important causes that might contribute to recession include the following trends and developments.
It is argued that whenever banks make loans and advances, money is created. Economists are of the opinion that excessive credit creation beyond the reasonable demand and needs results in higher level of debts in the economy.
The next important factor that causes an inexplicable rise in financial markets includes speculative dealings and investments. According to a statistical report, not even one-twelfth of the money created by the banks went to brick-and-mortar type of business ventures. Such unregulated activities caused recession in many economies.
Another adverse move by banks and financial institutions was that they overly focused on lending to the property market which resulted in an irrational upward rise in asset prices. But, like a bubble, these prices started falling down and added to an increase in non-performing loans (NPL). Since many who borrowed from the banks could not repay their loans to the banking and financial institutions, inevitably, went bankrupt.
A research report published in February 2013, by the Financial Services Authority (FSA) argued that creation of private credit and money contributed to the adverse consequences.
‘Once Bitten! Twice Shy!! is a proverb. During the global credit crisis (2008), banks have learned hard lessons as the level of NPLs(Non-Performing Loans) soared, quite dangerously. Disguising themselves as being cautious, banks have tightened their lending policies. With the result, businesses could not raise the much-needed capital for their activities and ventures. Of course, this phenomenon contributed to recession as cashflow was not happening. One of the reports published by the Bank of England argues as follows. ……, ‘Just as taking out a new loan created money, the repayment of bank loans destroyed money’ (Money Creation in the Modern Economy, Bank of England p-3-4).
Improving the business confidence and investments is quite necessary create jobs in an economy. Aggregate demand for goods and services should be improved as it would help continuity of employment and sustainability in business. Business practices or activities that might cause contagion should be discouraged, at any cost.
Against this backdrop, this conference in Paris, France aims at achieving the following objectives:
a) Closely examine the major factors that contribute to recession and undertake research activities to arrest them, at an early stage;
b) Encouraging active and socially relevant research works on the above crucial issues and come up with meaningful solutions to help economic activities to accelerate and create sustainable employment opportunities and economic growth, in the long run;
c) Provide an ideal platform for researchers, economists, bankers and practitioners to network and share their research and practical experiences to develop models and systems for addressing recession-related issues;
d) Offer suitable solutions so that the world becomes a better place for the humanity to lead a cohesive and normal life.
Shri Dharmasthala Manjunatheshwara Institute for Management Development (SDMIMD), ranked among the top Business Schools in India, is located at the foot of Chamundi Hills in the heritage city of Mysore, Karnataka. The campus has won many architectural and landscape awards and provides a great environment for learning and germination of managerial intellect. The institute has been conferred A** Rating at National Level by CRISIL.
The institute is promoted by the Shri Dharmasthala Manjunatheswara Educational Trust - a premier non-profit educational organisation functioning under the aegis of Shree Kshetra Dharmasthala, which is known for its unique embodiment of Dharma. Today, SDME Trust has more than 40 recognised educational institutions under its wings, imparting quality education from the primary level to the postgraduate level. Trust is known for the professional institutions in Medical, Dental, Engineering, Naturopathy, Ayurveda, Law, Business Management and Physiotherapy. The trust and all the associate institutions benefit from the visionary leadership of our Chairman, Padma Bhushan Dr. D. Veerendra Heggade, Dharmadhikari of Dharmasthala.
SDMIMD’s AICTE approved PGDM programme, accredited by NBA, runs for six terms over two years with an impeccable track record of academic rigor. SDMIMD also has Student Exchange Programs with the MAYS School of Business, Texas A&M University, USA; Global Management Institute of Shanghai University, China; and British University in Dubai, Dubai. These student exchange programmes enable students to understand each other’s cultures, business practices and traditions. This gives students an edge when it comes to international opportunities.
The SDMIMD’s research unit - SDM Research Centre for Management Studies’ (SDM RCSM), publications ‘Cases in Management’, ‘Contemporary Research in Management’, ‘Excerpts of Select Summer Internship Reports’, have come in for praise from the world of academics. The institute’s journal ‘SDMIMD Journal of Management’ indexed in EBSCO and iScholar has evolved as a prestigious publication well known for the quality of the papers, therein.
To know more about SDMIMD please visit: www.sdmimd.ac.in Recessions Hinder Growth!