We investigate the effect of economic crises on the direction of information flow and price discovery efficiency of spot and futures market by considering the near month Nifty50 index futures and its corresponding spot index. The period of study commences from January, 2004 to December, 2015 and...

FCCBs is a fund raising instrument of Indian corporate sector to access the international investors. The various factors associated with FCCBs send positive and negative signal to the market during its issue, which in turn effect on the shareholders wealth. Majority of Indian FCCBs are issued...

Market efficiency is examined in three forms: weak form, semi-strong form and strong form and each one deals with a different source of information. 1. Weak form efficient market - the prices of securities fully reflect all historical information and no excess returns can be earned by utilising...

This paper examines stock market reaction to the earnings announcements by taking December 2001 quarter earnings announcement as an event. The study is based on 152 companies having minimum 20 percent foreign holdings. The companies are divided into, good news, bad news and overall portfolios....

In this study, we used event study methodology to examine stock price reactions to quarterly earnings announcement. The study is based on a sample of 146 companies listed on Bombay Stock Exchange and December 2000 quarterly earnings announcements are taken event. The abnormal performance is...

This paper examines semi-strong form of efficient market hypothesis by taking September 2001 quarter earnings announcement as an event. The study is based on 146 companies having minimum 20 percent foreign holdings. We have used event study methodology, t test, Runs test and sign test to test...

Taking a sample of seasoned equity offerings (SEOs) by firms listed on Bombay Stock Exchange (BSE) from the year 1992 to 2012, we examine two of the key issues concerning SEOs. First, whether SEOs are underpriced, issued at a price lower than the prevailing market price; and second, whether...

This study examines listing day performance of IPOs, book-built and fixed-price IPOs, post-listing aftermarket performance of IPOs, book-built and fixed-price IPOs in the Indian stock market. We examine pricing as well as long run performance of 464 (365 book-built IPOs and 99 fixed-price IPOs)...

The Bombay Stock Exchange of India Ltd (BSE) and National Stock Exchanges of India Ltd (NSE) introduced opening Call Auction (CA) mechanism to S&P BSE Sensex stocks and NSE Nifty stocks on 18th October 2010. The opening CA introduced to increase the price discovery, reduce the volatility, and to...

This empirical study examines the impact of opening Call Auction (CA) on price discovery of BSE Sensex stocks. CA was introduced on BSE Sensex stocks on October 18, 2010. The objectives of CA are to increase the price efficiency in the opening session, minimize the volatility and to make prices...