Although several empirical studies report significant positive long-run abnormal stock returns following share buybacks, a recent event study paper claims that such anomalies have disappeared in the most recent decade and this disappearance of abnormal performance is not sensitive to the methods...

The OTC derivatives markets all over the world have shown tremendous growth in recent years. In the wake of the present financial crisis, which is believed to have been exacerbated by OTC derivatives, increasing attention is being paid to analysing the regulatory environment of these markets. In...

Although several empirical studies report significant positive long-run abnormal stock returns following share buybacks, a recent event study paper claims that such anomalies have disappeared in the most recent decade and this disappearance of abnormal performance is not sensitive to the methods...

This study investigates the nature of the causal relationships between stock prices and the key macro economic variables representing real and financial sector of the Indian economy for the period March, 1995 to March, 2007 using quarterly data. These variables are the index of industrial...

The existence of herding behaviour challenges the validity of an Efficient Market Hypothesis. This study examines herding behaviour in the Chinese and Indian stock markets; our findings suggest that herding behaviour exists in both stock markets. The level of herding depends on the market...

This paper while emphasising the importance of the concept of financial stability in wake of recent global financial crisis in particular and other (banking and financial) crises in general attempts to highlight the significance of the soundness of banking sector in emerging economies where...

This paper is a review of the Initial public offering process made by a process called ‘Book-Building' in the Indian capital market. Main reasons to produce a detailed document are as follows:In the open market economy best and cheapest source of finance is popularly known as the ‘Issue of...

The temporal relation between stock index and Index futures has been and continues to be of interest of regulators, academicians and practitioners alike for a number of reasons such as market efficiency volatility and arbitrage. In perfectly efficient markets profitable arbitrage should not...

As India rapidly urbanizes, urban governance and management in general, and meeting the financial needs of urban areas in particular, have acquired greater urgency. Sankhe et al. (2010: 15) have projected that by 2030, 590 million Indians will live in cities, more than double the corresponding...

Stress in liquidity is at the heart of any banking crisis in history. During the financial crisis of 2007-09, funding liquidity risk caused the collapse of interbank markets, which became the focus of authorities' attention at restoring order. Accordingly, central banks and other regulatory...