“The International Journal of Financial Management” tends to bring about a revolution in the financial research through its unparalleled quality, undaunted approach and panoptic coverage of the research efforts being undertaken all around the globe. The journal intends to provide the super ordinate podium to the researchers to share their findings with the global community after having crossed the quality checks and legitimacy criteria, which in no way promise to be liberal.
In today's complex and dynamic business world, the only constant factor is change. The global economic environment is rapidly evolving in response to the profound changes swiftly sweeping the financial world all over. The present trend towards financial sector liberalization and globalisation, especially with respect to the emerging market economies has resulted in an overall trend towards conglomeration, internationalisation and dollarisation in the financial systems of many of the countries. Such trends have resulted in inextricable linkages between the financial, economic and developmental destinies of the participant countries. The case in point is, the financial events of the last three years, which began in a seemingly small part of the US housing market, have touched all of our lives and come to test the resilience of economic, business and financial systems the world over. The bankruptcy tales of the business behemoths which began in the West haunted the industrial players world over resulting in sterner governance norms. This linkage is put more in a proverbial manner in the Indian contours as “When US sneezes, India catches cold” which is only indicative of the coupling and decoupling effects shared by the geographically distant countries.
Financial sectors across the globe have witnessed increased conglomeration to survive in a milieu of financial liberalization and technological improvements. The dilution of international boundaries pulsates in the integrated efforts towards adopting homogenous and globally acceptable accounting, reporting and governance standards, evidenced from the move towards adoption of a IFRS, common CG code etc. Globalisation of clients of major financial instruments who, in turn, demand global access to services and a wide product mix has also been a contributory factor to the financial product and service innovations. Debt and equity, the traditional sources of finance have lost as tortoises to the new age financial hares namely options and futures, warrants, secured premium notes, deep discount bonds, ETFs, securitization, venture capital financing, ADRs/GDRs, FCCBs and the list goes on and on. These innovative instruments and means of financing have resulted in structural changes rendering a new face to the business in general and financial landscape in particular.
Not just the financial integration, but the face of business and the ways of doing business have displayed sweeping changes. The business practices have responded to the incessant invasions by hyper competition, information diffusion, technological upgradations, communication technology, and challenges of the IT age, in their own way. The changes have been reflected through newer terminologies like e-business, e-payments, online/internet banking, RTGS, online trading.
When the contours of business and finance have revolutionized, how could the allied research stick on to the traditional and simplistic methods. The research inputs, methodologies, means of analyzing, nature of respondents, recording, interpreting and even the presentation techniques have come of age. The simple data has become high frequency data, respondents have defied all regional boundaries to become global respondents, periods of research have diminished from decades to intra-day and the age old simple analysis techniques have taken the exit route making way for refined and sophisticated techniques. The latest user-friendly softwares are enabling to capture the impact of all sorts of advancements to comprehend the enigma of these changes through in-depth research.
With change ruling the roost and eclipsing the financial corridors, the responsive behavior of financial and researching community needs to be culled and authentically documented. To capture these financial effects of innovations and advancements and fill in the void of a specialized, world-class, authentic and evenhanded finance journal, we are making a steadfast and radical effort. This is an official announcement to launch a world class quarterly Journal under the aegis of Publishing India Group.