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Behaviour of Share Prices in India

Author: O. P. Gupta
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 204

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Book Description

Behaviour of Share Prices in India

Author: O. P. Gupta
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 204

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Book Description

Stock Market Efficiency in India

Author: Nivedita Mandal
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659545276
Category :
Languages : en
Pages : 80

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Book Description
The Indian Stock Market is witnessing heightened activities and is increasingly gaining importance to domestic and foreign investors, as well as to retail and institutional investors. In the current scenario, it is of utmost importance to know whether the Indian market is functioning efficiently, which in turn ensures the proper allocation of huge capital (in)flows to this emerging economy. This book provides in depth analysis of informational efficiency of the Indian Stock Market, in semi-strong form. It addresses the impact of company's dividend policy on market returns, with special attention to capture the asymmetric behavior of the market towards good news of dividend initiation and bad news of dividend omission announcements. This book is helpful for the investors to learn about the market they are investing in, and similarly for the company policy makers to decide upon their dividend policy keeping the investors' reactions in mind.

Semi-Strong Form Efficiency of Indian Stock Market in Post-Reform Period

Author: Dr Madhuchhanda Lahiri
Publisher: Walnut Publication
ISBN: 9391145787
Category : Antiques & Collectibles
Languages : en
Pages : 277

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Book Description
The Efficient Market Hypothesis is an elegant edifice that provides a basis on which the efficiency tests of a stock market are performed at three distinct levels: weak - form, semi-strong form and strong - form. This magnificent edifice of EMH rests on the Random Walk Theory which contends that all price changes reflect a random departure from previous prices. The weak form of the hypothesis states that prices efficiently reflect all information contained in the past series of stock prices whereas the semi-strong form efficiency contends that security prices factor in publicly available information in the market and that the price changes to new equilibrium levels are reflections of that information. The book checks the weak-form and semi-strong form efficiency of the Indian stock market by examining the behaviour of the stock prices in the Indian stock market after the introduction of the various financial sector reforms using different methodologies. By using NSE data over the period 1998-2005 - the period which witnessed some major crises, scams, intense capital market activities and introduction of many new financial instruments - the study examines the information contents of historical stock price data, quarterly earnings announcements, and stock splits. The book also checks for the presence of the Day-of- the- Week Effect in the Indian stock market and enquires whether the introduction of the various instruments and policy changes have made the Indian stock market weak-form and semi-strong form efficient i.e., whether the efficiency of the stock market has been restored in the post-reforms period compared to the situation in the pre-reform period.

Indian Stock Market and Investors Strategy

Author: Dr.Priya Rawal
Publisher: Dr.Priya Rawal
ISBN: 1505356687
Category : Business & Economics
Languages : en
Pages : 82

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Book Description
Investment raises the level of aggregate demand which in turn increases the level of income and employment in the economy. With changes taking place at terrific pace in the field of investments, it has become a specialized activity demanding scientific plans and procedures for success. Availability of large number of innovative product alternatives has added complexity to the process. One is therefore required to master the science of investing in order to optimize his investment function. Since equity share is one of the important media of investments among the aforementioned group a study shall definitely help the investors to acquire substantive knowledge on equity investment management and can devise active investment strategies in accordance with their investment objectives and resource constraints.

STOCK MARKET BEHAVIOR AND INTEGRATION AMONG GLOBAL STOCK MARKETS - AN EMPIRICAL INVESTIGATION

Author: Arul Sulochana Y
Publisher: Faculty of Management Sciences
ISBN: 9781998757275
Category : Business & Economics
Languages : en
Pages : 0

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Book Description
Investors and researchers have been paying more attention to the emerging stock markets performance. Analysing stock market behaviour and stock market efficiency is important for investors because it allows the investors to understand the stock market behaviour better and consequently make more sensible choices. The investors can make above average profits through investments in different markets by taking advantage of any abnormalities when they occur. In the context of globalization and increasing opportunities to the investors to invest abroad, it is essential for the international portfolio investors from India to understand the level of interdependence among the major stock markets in the world and its impact on the Indian stock market.Efficiency in the domestic stock market has important implications for issuers of equity and portfolio investors. Furthermore, an efficient stock market can attract foreign portfolio investment, support domestic savings and improve the mobility of capital and financial resources. Market efficiency has an important bearing on fund managers and investment bankers and more specifically the investors who are seeking to diversify their portfolio internationally. With increased movement of investment across international boundaries due to the integration of world economies, understanding of global stock market efficiency is also gaining greater becoming more important.It is difficult for the foreign institutional investors to identify profitable markets during negative global cues. Framing an investment policy is difficult by considering native market behaviour alone. Stock market operations are dynamic in nature. newline.

Stock Market Efficiency and Price Behaviour

Author: O. P. Gupta
Publisher:
ISBN:
Category : Efficient market theory
Languages : en
Pages : 373

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Book Description

Testing the Semi-Strong Form Efficiency of Indian Stock Market

Author: Mariappan Raja
Publisher: LAP Lambert Academic Publishing
ISBN: 9783846516942
Category :
Languages : en
Pages : 256

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Book Description
The present book is significant in several respects. First and foremost thing is that it is one of the few studies testing the efficiency of Indian stock market with respect to information content of corporate events announcements in India with respect to Information Technology (IT) companies. Further, this study used a very large sample containing actively traded IT companies from Bombay Stock Exchange (List A and B1). The present study used the well established event study methodologies for analyzing the efficiency of the information content of corporate events announcements. The results of the study are encouraging. The results of the present study show that the Indian capital market is efficient in the sense that its uses the information relevant for security valuation and for investment decision making. The corporate events announcements information's are captured in stock prices within a short period of few days. The results will be encouraging to finance professionals, analysts, investors, and regulatory agencies because usefulness of accounting information for investment decision making has been indicated by the results.

Indian Stock Market

Author: Bishnupriya Mishra
Publisher: Excel Books India
ISBN: 9788174466051
Category : Capital market
Languages : en
Pages : 228

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Book Description
Indian Capital Market is considered the second largest capital market in the world next only to the United States of America. Stock Markets in India have grown exponentially as measured in terms of the number of listed companies, market capitalization, turnover on stock exchanges, price indices and others. In terms of reforms and development, the Indian stock market has been the fastest to grab every opportunity presented by the paradigm shift in India's economic policy. A well-organized and well-regulated capital market facilitates sustainable development of the economy by providing long-term funds in exchange for financial assets to investors. This book is based on a collection of chapter-contributions from leading academicians on relevant, authoritative and thought provoking aspects of Indian Stock Market. It contains both conceptual and empirical studies so as to enable the reader to acquire a holistic view of the subject. This book is designed to meet the requirements of MBA students specializing in the area of Finance, students of CA/ICWA, students of M.Com/B.Com, academicians, researchers, practitioners and investors in general.

Indian Stock Market

Author: Gourishankar S. Hiremath
Publisher: Springer Science & Business Media
ISBN: 8132215907
Category : Business & Economics
Languages : en
Pages : 124

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Book Description
India is one of the major emerging economies of the world and has witnessed tremendous economic growth over the last decades. The reforms in the financial sector were introduced to infuse energy and vibrancy into the process of economic growth. The Indian stock market now has the largest number of listed companies in the world. The phenomenal growth of the Indian equity market and its growing importance in the economy is indicated by the extent of market capitalization and the increasing integration of the Indian economy with the global economy. Various schools of thought explain the behaviour of stock returns. The Efficient Market Theory is the most important theory of the School of Neoclassical Finance based on rational expectation and no-trade argument. The book investigates the growth and efficiency of the Indian stock market in the theoretical framework of the Efficiency Market Hypothesis (EMH). The main objective of the present study is to examine the returns behaviour in the Indian equity market in the changed market environment. A detailed and rigorous analysis, made with the help of the sophisticated time series econometric models, is one of the key elements of this volume. The analysis empirically tests the random walk hypothesis and focuses on issues like nonlinear dynamics, structural breaks and long memory. It uses new and disaggregated data on recent reforms and changes in the market microstructure. The data on various indices including sectoral indices help in measuring the relative efficiency of the market and understanding how liquidity and market capitalization affect the efficiency of the market.

Econometric Analysis of Weak Form of Market Efficiency

Author: Uttam B Sapate
Publisher: Educreation Publishing
ISBN:
Category : Education
Languages : en
Pages : 196

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Book Description
Econometric Analysis of Weak Form of Market Efficiency This book "Econometric Analysis of Weak Form of Market Efficiency" is an outcome of doctoral research work carried out on a large amount of stock market data using MATLAB software. It is a unique study wherein a battery of econometric tests has been applied to test the Indian stock market's weak form efficiency. This book consists of 6 chapters describing the concepts of market efficiency, econometric analysis and outcomes of the study. Each chapter deals with complex mathematical terminology in lucid and simple language for better understanding. This books aims at providing advance knowledge to the researches for application of econometric techniques to ascertain market efficiency. However, at the same time it is useful as a practical guide to the graduate / post graduate students of management, economics, and securities markets and engineering for carrying out desk research using MATLAB handling large amount of secondary data. The research outcomes are expected to be guiding force to investors, academicians, researchers in many ways wherein this work can further be extended.