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Index of Professionalism in Financial Decisions

In: Financial Management Practices

Author

Listed:
  • P. K. Jain

    (Indian Institute of Technology)

  • Shveta Singh

    (Indian Institute of Technology)

  • Surendra Singh Yadav

    (Indian Institute of Technology)

Abstract

What has been described and discussed in the other chapters is utilised in an attempt to develop an index of professional practices relating to financial management. The index has been developed in the basis of the responses received to a questionnaire sent to all the 166 sample companies. Though the number of responses received and used, being 29, was not very high, it can be considered a fairly good representation of the sample. A corporate would be called professional if its management practices are consistent with the systematic body of knowledge and tools and techniques of sound theory. This means that the professional enterprises would not follow arbitrary/ad hoc or rule-of-thumb approach in taking decisions. In brief, it may be said that sample companies are using sound financial management practices in a great measure. However, there is a greater scope for improving professionalism in some categories of financial management practices (like capital structure and risk management) than others.

Suggested Citation

  • P. K. Jain & Shveta Singh & Surendra Singh Yadav, 2013. "Index of Professionalism in Financial Decisions," India Studies in Business and Economics, in: Financial Management Practices, edition 127, chapter 0, pages 299-316, Springer.
    • Handle: RePEc:spr:isbchp:978-81-322-0990-4_8
    DOI: 10.1007/978-81-322-0990-4_8
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