Sr. Lecturer, ULAB School of Business University of Liberal Arts Bangladesh (ULAB) House # 56, Road # 4/A @ Satmasjid Road Dhanmondi, Dhaka–1209, Bangladesh Email: liton.chakraborty@ulab.edu.bd Phone: +88-02-9661255, 9661301 Extn. 512
Degree and Institute Detail:
Shahjalal University of Science & Technology, Bangladesh M.S.S. and B.S.S. (Honors) in Economics
Award / Achievement:
University Scholarship, Shahjalal University of Science & Technology
Conferences/Seminars Attended:
WORKSHOPS ATTENDED:
• “Research Methods for Business and Social Sciences”, conducted by Dr. Syed Saad Andaleeb, Professor and Chair of Marketing, Penn State Erie, USA; organized by ULAB, Dhaka, Bangladesh, July 2008
• “Active Learning and Education for Sustainable Development”, conducted by Prof. Carolyn Roberts & Prof. Alex Steele, University of Gloucestershire, UK & organized by Institute of Sustainable Development, ULAB, Dhaka, Bangladesh, June 2008
• “Finance for Non-Financial Managers”, conducted by Mr. Nazmul Haider, Head of Finance & Company Affairs, Perfetti Van Melle BD Pvt Ltd. & organized by Bdjobs, Bangladesh, June 08
• “A Workshop on Research and Publication” conducted by Prof. Syed Manzoorul Islam, Department of English, University of Dhaka, Bangladesh, May 2008
• “TRIPS (Trade-Related Intellectual Property Rights): Imperatives for Bangladesh", Organized by Bangladesh Foreign Trade Institute (BFTI), Dhaka, Bangladesh, August 2007
• “Moodle Workshop: Web-based, on-line course delivery platform”, conducted by Prof. Brian Shoesmith (with Mr. Naser Khan), Head, Dept. of Media Studies & Journalism, ULAB, Dhaka, Bangladesh, August 2007
• “Performance Management Workshop” conducted by Prof. Brian Shoesmith, Head, Dept. of Media Studies & Journalism, ULAB, Dhaka, Bangladesh, July 2007
• “Case Development Workshop”, conducted by Prof. Imran Rahman, Director, School of Business, ULAB, Dhaka, Bangladesh, June 2007
• “The Production Cost Reduction Technique”, organized by SEDF and SLTS, Dhaka, Bangladesh, October 2006
• “Supply Chain Management”, conducted by Mr. Naquib Khan, Director, Supply Chain, Nestle, Bangladesh and organized by Bdjobs, Bangladesh, June 2006
SEMINARS ATTENDED:
• A seminar on "Fighting Corruption in Bangladesh: Creating Demand for Change" conducted by Dr. Iftekharuzzaman, Executive Director, Transparency International Bangladesh at ULAB, Dhaka, Bangladesh, December 2008
• A national seminar on “Bangladesh Economy: Prospects and Challenges”, organized by Citibank, N.A. at Spectra Convention Centre, Dhaka, Bangladesh, November 2008
• A national dialogue on “State of the Bangladesh Economy and an Analysis of the National Budget for FY 2008-2009”, organized by Centre for Policy Dialogue (CPD) at Pan Pacific Sonargaon Hotel Ballroom, Dhaka, 17 June 2008.
• “Budget Analysis and Recommendation Seminar”, jointly organized by: Profile of Bengal, Bangladesh Projonmo and the Dept. of Management, Dhaka University, held on Monday, 16 June 2008, Seminar Room, Faculty of Business Studies, University of Dhaka.
• A seminar on "The Role of Knowledge Generation in the Higher Education Institutions" conducted by Dr. Syed Saad Andaleeb, Professor and Chair of Marketing, Black School of Business, Penn State Erie and Editor, Journal of Bangladesh Studies, March 2008
• A national seminar on “Regional Trading Arrangements: Opportunities and Pitfalls for Bangladesh”, conducted by Prof. Mustafizur Rahman, Research Director, CPD, organized by Development Research Network (D.Net), Dhaka, Bangladesh, June 2007
• An International Investor Conference in Bangladesh titled 'Bangladesh - the New Investment Frontier', organized by DSE & Citigroup, Dhaka, Bangladesh, May 2007
• A seminar on "Learner-Centered Teaching: From Concepts to Practice" conducted by Professor Dr Patrick Dougherty, University of Hyogo, Japan, April 2007
• An International Conference on "Sustainability in Higher Education”, organized by ULAB, Dhaka, Bangladesh, March 2007
Professional Work Experience:
I have been teaching in private universities of Bangladesh since 2004. My ambition is to pursue an academic career as an economist. My main interests lie in the areas of macroeconomics, and financial economics. My career goal is to be a complete university professor with the capability of carrying out scholarly research.
Additional Information:
Faculty Adviser, ULAB Business Club, January 2008 - present
Bangladesh Institute of ICT in Development (BIID) Assistant Editor, Spearhead of ICT4D Knowledge in Bangladesh August 2009 - present
Instructor, “Training on Intermediate Excel: A custom-made MS Excel Training for GEMCON group Employees”, July 28, 2009 – August 02, 2009
Presidency University, Dhaka, Bangladesh Proctor (in charge), August 2005 – December 2006
Microeconomics, Macroeconomics, Business Mathematics, Econometrics, Business Statistics, International Economics, Operations Management
Teaching Info:
University of Liberal Arts Bangladesh (ULAB), Dhaka, Bangladesh Sr. Lecturer, School of Business, January 2010 – Present
University of Liberal Arts Bangladesh (ULAB), Dhaka, Bangladesh Lecturer, School of Business, January 2007 – December 2009
Presidency University, Dhaka, Bangladesh Lecturer, M. H. School of Business, February 2005 – January 2007
The University of Comilla (UNIC), Comilla, Bangladesh Lecturer, Dept. of Business Studies, February 2004 – February 2005
Courses Taught:
Principles of Microeconomics, Principles of Macroeconomics, Business Mathematics, Business Statistics, Operations Management, International Business
Title: IS THE COST OF CAPITAL AN IMPORTANT DETERMINANT OF MARKET PERFORMANCE OF PRIVATE COMMERCIAL BANKS IN BANGLADESH?
Authors: Hussain, Tashfeen and Chakraborty, Liton
Abstract:
This paper empirically estimates the weighted average cost of capital for twenty four commercial banks in Bangladesh that are listed in the Dhaka Stock Exchange considering the period between January, 2006 and December, 2008. Attempts are made to examine what kind of relationship exists between cost of capital and stock market returns of private commercial banks in Bangladesh, and to what degree the returns on stocks can be explained by their respective cost of capital for the same period of time. Using statistical measures like, correlation and regression analyses, we find that a strong negative correlation is emerging between the cost of capital of commercial banks and their respective market returns as the capital market in Bangladesh is becoming more vibrant and efficient. The results also show that for the majority of the banks that are listed in Dhaka Stock Exchange the variation in the returns on stocks can be strongly explained by the variation of their respective cost of capital by the end of 2008. Therefore, our findings suggest that banks should try to lower their respective cost of capital in order to increase their market returns.
Title: INTERNATIONAL TRADE, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH NEXUS IN BANGLADESH: EMPIRICAL EVIDENCE FROM TIME SERIES APPROACH
Authors: Uddin, G. S. and Chakraborty, Liton
Abstract:
Financial development and international trade, developed from empirical growth literature, are identified as macroeconomic variables highly correlated with economic growth. This study employs the co-integration and Granger causality tests to investigate long-run relationship and the direction of causality between financial development, international trade and real income growth in Bangladesh. The estimation procedure also passes a battery of diagnostic tests indicating stability of the long run and short run estimates. The results of the study do not reveal any long-run relationship between economic growth and financial development as scaled by money supply and domestic credits, and between exports and economic growth. On the other hand, Granger causality test results suggest that the exportled growth hypothesis can be inferred for Bangladesh economy in the short run. However, both export and import growth cause changes in the money supply in the short run. The nexus is unidirectional. Long run GDP growth has an effect on income growth in the short run. Finally, this study has shown that import growth causes a change in the domestic credit in the short run. The findings of this paper have important implications for macroeconomic policies of the nation.
Keywords: International Trade, Financial Development, Co-integration and Granger Causality Tests
Title: Is Dhaka Stock Exchange Efficient? An application of Technical Trading Rule
Authors: Hussain, T., Chakraborty, Liton, and Kabir, M. A.
Abstract:
This paper attempts to examine the weak form of efficiency on Dhaka Stock Exchange using both the statistical tools and technical trading rule, the Moving Average Rule. The sample includes 5815 observations from DSE General Price Indices (DSE-GEN) between 16th September 1986 and 30th June 2008. The results of Kolmogorov-Simonov goodness of fit test, Runs test, Augmented Dickey Fuller (ADF) test support that the daily market returns of DSE do not follow random walk hypothesis. For the same time series, the techniques of a simple 50-day, 100-day and 200-day moving averages are found to be more profitable in a comparison with the Buy-Hold Strategy; even after adjusting the daily price indices for 0.5 % transaction costs.
Keywords: Weak Form of Efficiency, Moving Average, Technical Trading Rules, Random Walks, Dhaka Stock Exchange (DSE)
Title: THE ZOO AS ECOTOURISM ATTRACTION- VISITOR REACTIONS AND PERCEPTIONS: THE CASE OF DHAKA ZOO, BANGLADESH
Authors: Malakar B., Khan, M. H., and Chakraborty, Liton
Abstract:
This paper aims at identifying and analyzing the factors that motivates visitors for visiting Dhaka Zoo. One hundred respondents were selected by stratified random sampling procedure for the study. A multivariate analysis technique like “Factor Analysis” was used to identify the factors. The result shows that toilet facilities and ease of car parking are the most important factor for visiting Dhaka Zoo.
Title: TESTING THE RELATIONSHIP BETWEEN INTELLECTUAL CAPITAL AND FIRMS' MARKET VALUE AND FINANCIAL PERFORMANCE: EVIDENCE FROM BANGLADESHI INDUSTRIES
Authors: Hussain, Tashfeen, Chakraborty, Liton, and Rahman, Sheehan
Abstract:
This study intends to investigate empirically the relation between intellectual capital and firms’ market valuation and financial performance, by using data drawn from 11 banking institutions, 10 textile firms and 9 pharmaceutical companies enlisted in the Dhaka Stock Exchange, Bangladesh. More specifically, by employing Pulic’s (1998, 1999, 2001, 2004) Value Added Intellectual Coefficient (VAIC™) as the efficiency measure of capital employed and intellectual capital, this study tests the relationship between the concerned variables. Multiple regression analyses have been conducted on the collected data. Surprisingly, the results do not show any strong association between the studied variables. However, the human capital efficiency and the capital employed efficiency have been found statistically significant in determining the changes in share price and financial performance, respectively. The empirical findings of this study suggest marginal evidence regarding the significance of intellectual capital in influencing market value and financial performance of firms in Bangladesh.
Title: Gross Value Added of Agriculture Sector in Bangladesh: An Econometric Investigation
Authors: Rajeb, M., Hossain, M. M., and Chakraborty, Liton
Abstract:
In this paper we investigate how different factors, namely, land utilization, irrigated area, consumption of pesticides, area under forest, consumption of fertilizers and improved seeds affecting the Gross Value Added of agriculture sector in Bangladesh. The relationship between the concerned variables and their overall impact on the Gross Value Added of agriculture sector in Bangladesh have been examined through econometric modeling followed by various statistical measures like multivariate regression analysis, residual analysis, autocorrelation test, multicollinearity test and testing for the linearity of the regression. The results of this study suggest that all of the independent variables under consideration significantly influence the dependent variable. It is evident that the 89.60% variation in the dependent variable can be explained by the variation in the independent variables. All the properties of residual analysis (zero mean and constant variance) have been satisfied in this study and the results of both Run test and Durbin-Watson test show that residuals are uncorrelated. Finally, our regression model has been found to be approximately straight line whereas the results of Farrar-Glauber test indicate that multicollinearity exists in the model and all of the independent variables are found to be collinear. However, this could be removed with the help of Principal Component Analysis and other advanced techniques in further studies. The findings of this paper have important implications in identifying the factors which can accelerate growth in the agriculture sector of Bangladesh economy.
Keywords: GVA of Agriculture, Land Utilization, Irrigated Area, Consumption of Pesticides, Area under Forest, Consumption of Fertilizers, Improved Seeds
