This paper aims at identifying relevant financial factors which critically affects firm revenue growth. We specifically focus on the dynamic nature of such factors across up or down-market cycles and also for different scales and size of business. The study uses annual data of 17 accounting and...

Purpose: This paper examines the associative and causal relationship between changes in the implied volatility index (VIX) and stock market returns, with data from 15 countries representing both developed and emerging economies.1 We also examine the dynamic variation, if any in the nature of the...

The purpose of this paper is to find out if firms that operate with debt free balance sheet are rewarded more by the investors at large. For this we form portfolios of debt free firms and compare their performance with performance of matching portfolios of leveraged firms from the same industry...

Qualified Institutional Placement (QIP) was introduced in India in 2006 to make it easier and faster for companies to raise equity directly from However, there are very few studies looking at the market reaction of QIPs in India. When a company goes for a QIP, it also has the choice of offering...

This paper investigates whether a simple accounting based fundamental analysis strategy has earned superior returns within a portfolio of low price-to-book (value) stocks in the Indian equity market over the last decade. In line with Piotrosky (2000) we developed an F-score combining...

This paper aims at identifying relevant financial factors which critically affects firm revenue growth. We specifically focus on the dynamic nature of such factors across up or down-market cycles and also for different scales and size of business. The study uses annual data of 17 accounting and...

Purpose: This paper examines the associative and causal relationship between changes in the implied volatility index (VIX) and stock market returns, with data from 15 countries representing both developed and emerging economies.1 We also examine the dynamic variation, if any in the nature of the...

In this paper we did a return based style analysis of equity mutual funds in India using quadratic optimization of an asset class factor model proposed by William Sharpe. We found the 'style benchmarks' of each of our sample of equity funds as optimum exposure to eleven passive asset class...

This study revisits the Bowman's (1980, 1984) risk-return Paradox using accounting risk and return proxies, for 1004 Indian firms, existing continuously between 2000 to 2015. We find strong evidence of a ‘partial' paradox. Firms which are poorly performing or below-median in the ranking...