Dr. Balasubramanian P. has fifteen years experience in teaching and research and two years of industrial experience. He completed his Ph. D. dissertation from Jawaharlal Nehru University. He teaches core courses in economics and elective courses in finance like financial derivatives, financial modeling and valuation in the MBA programme and behavioral economics for Ph. D. scholars. He has published in academic journals such as Vision, MDI Journal and international conference proceedings. He helped to organize rehabilitation activities for tsunami victims, focusing on education, counseling and support of children. Currently Chairperson Student Welfare, Coimbatore campus.


Publication Type: Journal Article
Year of Publication Publication Type Title
2016 Journal Article S. Madhavan, iv, Jyotishi, A., and Balasubramanian, P., “Planning Fallacy: A Case of Task Planning in IT Project Support Services”, Purushartha: A Journal of Management Ethics and Spirituality, vol. 9, 2016.[Abstract]

Schedule and effort slippages are measures that practitioners in the Information Technology (IT) industry are all too familiar with. While we accept the fact that these slippages are realities of our day-to-day life, we put continual efforts to overcome or reduce the impact of these deviations. Our propensity to lose sense of time-taken and become over optimistic and thereby skew our planning is termed as planning fallacy.

 This research is to study the planning errors, the reason for such behavior, its ubiquity in IT industry and how remedial actions may reduce planning errors. The intent is to approach the problem from a behavioral economics point of view, on the irrational approach followed by individuals that lead to planning fallacy. The research methodology adopted was experimental design with random samples chosen as control and treatment group. The results of the study and experiments establish the g presence of planning fallacy in many areas of task planning. Our results on the treatment group demonstrate that this judgment bias could be reduced to a large extent by periodic monitoring and facilitation. More »»

2015 Journal Article K. Kalyanasundaram and Balasubramanian, P., “Effect of Spirituality on Human Performance-A Myth or Reality?”, Purushartha: A Journal of Management Ethics and Spirituality, vol. 7, pp. 63-78, 2015.[Abstract]

There are many researches conducted in the area of factors influencing human performance in various industries. Many improvement projects using lean and six sigma techniques have been applied in the past to overcome the problem of human errors. Factors can be broadly classified into Individual and Organisational. The topic of human performance has been heavily researched in industries such as Nuclear, Aviation, Healthcare etc...Studies have been conducted depending upon the type of tasks considering Physical Quotient, Intelligent Quotient and Emotional Quotient. However, the effect of human task performance as a result of Spiritual Quotient is a very unique study and first of its kind. This paper aims to test if the ultimate knowledge of spiritual intelligence has any influence on the human performance. A controlled experiment was conducted. The dependent variable is Accuracy of the transaction processed with independent factors as Gender and Spiritual Intelligence. It was a 22 experiment, i.e. 2 factors (Gender and SQ) and 2 levels (male/female and high/low). 63 MBA students (41 males and 22 females) of a Business School were involved in this experiment. They were asked to fill up a 24 items questionnaire on Spiritual Intelligence. Later they were asked to perform a task to understand their performance. The task involved reading a passage and entering data both numeric and alphabetic into a standard template.The participants were given sufficient time as per the industrial standards just to simulate the work environment pressure. There were 59 fields of data entry and the performance was calculated by measuring the accuracy of data entry. That is, the ratio of number of fields entered correctly to the total number of fields to be entered. (defects per opportunity). The results show that human performance is significantly related to Spiritual Intelligence irrespective of the Gender. More »»
2015 Journal Article V. Rajmohan, Kalyanasundaram, K., and Balasubramanian, P., “Effect of Religious Propaganda on Commercial Interaction between Believers and Non-believers of a Particular Religious Ideology”, Purushartha: A Journal of Management Ethics and Spirituality, vol. 7, 2015.[Abstract]

The paper is an attempt to understand the impact of religious propaganda on believers and evaluating their attitudinal changes, both personal and trade-related towards nonbelievers. To analyse the impact of propaganda, a controlled experiment was undertaken with 86 post graduate students and 3 faculty members from a College in Tamilnadu and subjecting them to narratives based on three different forms of propaganda - fundamentalist, moderate and secular. After each propaganda, the responses were taken through a questionnaire to measure the impact of propaganda on personal relations and commercial relations: 1) with believers or people following the same set of beliefs, 2) with non-believers or people projected as enemies of the community, and 3) with intermediaries or people who are deemed as tolerable. The results were statistically analysed and interpreted. The results provide insights into the value of different types of propaganda on commercial and personal interactions between those subjected to the propaganda and the community targeted through such propaganda (believers and non-believers). The results show that moderate propaganda is not a full-fledged antidote to fundamentalist propaganda; it only improves the commercial relationships. Only secular propaganda can withstand the onslaught of fundamentalist propaganda in both personal and commercial interactions. The results also reveal that creating a set of intermediaries would be helpful in increasing the commercial interaction among believers and non-believers. More »»
2010 Journal Article P. N. Kumar, G. Seshadri, R., Hariharan, A., Mohandas, V. P., and Balasubramanian, P., “Financial Market Analysis of Bombay Stock Exchange using an Agent Based Model”, International Journal of Imaging Science and Engineering, vol. 8, 2010.[Abstract]

Returns on stocks have traditionally been modelled by fitting a suitable statistical process to empirical returns. Studies on agent based models of stock market have been carried out by researchers, primarily on US markets. This paper analyzes the empirical features generated using historical data from the Bombay Stock Exchange (BSE), employing the concept of agent based model proposed by LeBaron[2,3,8]. Agent-based approach to stock market considers stock prices as arising from the interaction of a number of individual investors. These investors are modeled as intelligent agents, using differing lengths of past information, each trading with its own rules adapting and evolving over time, and this in turn determines the market prices. It is seen that the model generates some features that are similar to those from actual data of the BSE. More »»
2010 Journal Article P. N. Kumar, G. Seshadri, R., Hariharan, A., Mohandas, V. P., and Balasubramanian, P., “A Methodology for Aiding Investment Decision between Assets in Stock Markets Using Artificial Neural Network”, International Journal of Computer Science Issues (IJCSI ), vol. 7, no. 6, 2010.[Abstract]

This paper outlines a methodology for aiding the decision making process for investment between two financial market assets (eg a risky asset versus a risk-free asset), using neural network architecture. A Feed Forward Neural Network (FFNN) and a Radial Basis Function (RBF) Network have been evaluated. The model is employed for arriving at a decision as to where to invest in the next time step, given data from the current time step. The time step could be chosen on daily/weekly/monthly basis, based on the investment requirement. In this study, the FFNN has yielded good results over RBF. Consequently the FFNN developed enable us make a decision on investment in the next time step between a risky asset (eg the BSE Sensex itself or a single share) versus a riskfree asset (eg Securities like Govt Bonds, Public Provident Funds etc).The FFNN is trained with a set of data which helps in under standing the market behaviour. The input parameters or the information set consisting of six items is arrived at by considering important empirical features acting on real markets. These are designed to allow both passive and active, fundamental and technical trading strategies, and combinations of these. Using just six items simplifies the decision making process by extracting potentially useful information from the large quantity of historic data. The prediction made by the FFNN model has been validated from the actual market data. This model can be further extended to choose between any two categories of assets whose historical data is available. More »»
2010 Journal Article G. Kalyanaram and Balasubramanian, P., “The Effect of Direct Advertising to Consumers (DTCA) In Prescription Pharmaceutical Drugs, and Consumer Welfare”, Proceedings of the Northeast Business & Economics Association, pp. 423 - 427, 2010.[Abstract]

The empirical results of this study suggest that there is a statistically significant effect of direct advertising to consumers (DTCA) on market share of four pharmaceutical prescription drugs in the US. These results provide some support for the argument that the consumers engage in search and brand switching among the plausible brandchoices, and augment the empirical database of knowledge in this domain. More »»
2000 Journal Article D. Singh and Balasubramanian, P., “Price-Volume Relationship: Some Evidence from the Indian Stock Market”, Vision: The Journal of Business Perspective, vol. 4, pp. 17–28, 2000.[Abstract]

A contemporaneous relation between price and volume has been established by the present study which proves contrary to the Efficient Market Hypothesis. The methodology adopted for the study is that of Granger-Causality Test which investigates the dynamic relationship between price and volume between two time series. The study tests whether the knowledge of the behaviour of past volume improves conditional price forecasts over price forecast based on past price alone. The information could be considered to be either simultaneous or sequential. The result of the study supports the sequential information arrival hypothesis which states that knowledge of the behaviour of past volume improves the price forecasts. Of the twenty shares studied, 17 shares support the leading and lagging relation between price and volume. More »»
Publication Type: Conference Paper
Year of Publication Publication Type Title
2015 Conference Paper K. Kalyanasundaram and Balasubramanian, P., “Evaluation of Human performance in Data Entry tasks: Effect of Time Pressure and Complexity”, in Fifth International Conference on Industrial Engineering and Operations Management (IEOM ), 2015.
2015 Conference Paper S. Ulagapriya and Balasubramanian, P., “Study on inter sector association rules in national stock exchange, India”, in 2015 International Conference on Advances in Computing, Communications and Informatics, ICACCI 2015, 2015, pp. 859-865.[Abstract]

In this paper, the stocks grouped under different sector indices under National Stock Exchange (NSE) of India are analyzed to identify any interesting relations among the sectors. Concept of Association rules is used for this analysis. Stocks are grouped into sectors based on their operations/industrial classification. Owing to their similarity in every context stock prices within a sector generally vary in the same direction. This study examines inter sector relations using association rules. Daily closing prices are used to identify the trend of stock price variation which are in turn processed using Apriori algorithm [1] to get association rules and those spanning across sectors are separated and their behavior is analyzed. © 2015 IEEE.

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2015 Conference Paper S. Neeraja and Balasubramanian, P., “Impact of grading of IPOs in short run price performance in India: A regression model approach”, in 2015 International Conference on Advances in Computing, Communications and Informatics, ICACCI 2015, 2015, pp. 866-868.[Abstract]

Capital markets all over the world are subject to information asymmetry where the potential investors have inferior knowledge about the company. As a step to make markets efficient SEBI introduced a new mechanism of grading of IPOs in 2006. Grades assigned by different credit rating agencies acts as signal of quality of the company. The objective of this study is to analyze the impact of grading of IPOs in short run price performance. Price performance is one indicator of market efficiency. Using sample of 121 IPOs listed on NSE from 2006 to 2013, IPO returns for 6 months post offer day is calculated. Control variables Beta and 6 months market return are also introduced. Statistical tool multiple linear dummy variable regression analysis is used to understand the dependence of returns from IPO to the grades assigned taking market fluctuation and sensitivity of stock returns to market fluctuations as control variables. © 2015 IEEE.

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2015 Conference Paper A. Mohan and Balasubramanian, P., “Factors affecting inflation in India: A cointegration approach”, in 2015 International Conference on Advances in Computing, Communications and Informatics, ICACCI 2015, 2015, pp. 855-858.[Abstract]

This study is an empirical analysis to find out the major factors that determine inflation in India. The long run and short run relationships between inflation and other macroeconomic indicators such as per capita GDP, money supply, international oil price and exchange rate are determined using Cointegration method and Vector Auto regression model (VAR) respectively. The annual data of these variables from 1980 to 2013 is used for the study. The study finds that there is a long term as well as short term relationship between Inflation (measured using CPI) and exchange rate where as there is a short term relationship between Inflation and per capita GDP. © 2015 IEEE.

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2014 Conference Paper P. Balasubramanian and Kalyanasundaram, K., “Human Error Prediction and Control Model Using Recursive Partitioning”, in Proceedings of the 2014 International Conference on Interdisciplinary Advances in Applied Computing, Amrita University, 2014.
2012 Conference Paper P. Balasubramanian, “Precedence of indigenous law over state law among Pattinavar caste in Nagapattinam District, Tamilnadu, India: An economic perspective”, in The international conference on legal pluralism in natural resource management, Amrita School of Business, Amrita University, Ettimadai, Coimbatore , 2012.
2007 Conference Paper Sudhakar Achath and Balasubramanian, P., “Predicting Futures Contracts Using Local Data and Non-Parametric Regression”, in 5th International Conference of Association of Indian Management Scholars International, ICFAI Business School, Hyderabad , 2007.
Publication Type: Conference Proceedings
Year of Publication Publication Type Title
2015 Conference Proceedings P. Balasubramanian, Kalyanasundaram, K., and Aravindhan, S., “Sunk Cost Fallacy: Effect of Situational Knowledge on Irrational Choices”, Singapore Economic Review conference 2015 . Mandarin Orchard Singapore, 2015.
2013 Conference Proceedings P. Balasubramanian, “Fairness, efficiency and effectiveness in panchyat-based Dispute Resolution among Pattinavar in Nagapattinam District, Tamil Nadu, India”, 17th World Congress of the IUAES2013, University of Manchester. 2013.
2010 Conference Proceedings P. N. Kumar, G. Seshadri, R., Hariharan, A., Mohandas, V. P., and Balasubramanian, P., “Agent based Modeling of Financial Markets”, IEEE International Conference on Computational Intelligence and Computing Research (Best paper award), vol. 2. IEEE Explore , 2010.
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