An Integrative Book Overview Chapter -- The Indian Bankruptcy Reform: The State of the Art -- Reforms and Regulators -- Distortions in Land Markets and Their Implications for Credit Generation in India -- Value Destruction and Wealth Transfer Under the Insolvency and Bankruptcy Code -- The...

Under-utilisation of land as collateral for loans is often attributed to the poor quality of the land records infrastructure, which is seen to both increase the cost of closing credit transactions and the risk in collection if a loan fails. In this paper, we examine the link between the...

A traditionally conservative country in financial matters, India enacted a series of reforms in response to its balance of payments crisis in the early 1990s. But since then only halting progress has been made, raising concerns about India’s rising fiscal deficit, inefficiencies in its...

Call auctions represent an alternative strategy, where the order ow over a certain time period is pooled, and the market-clearing price obtained through an aggregated supply and demand curve. Call auctions trade off instantaneity of order execution in favour of elimination of impact cost, and...

Value-at-Risk (VaR) is widely used as a tool for measuring the market risk of asset portfolios. However, alternative VaR implementations are known to yield fairly different VaR forecasts. Hence, every use of VaR requires choosing among alternative forecasting models. This paper undertakes two...

In this article, we study conditional heteroscedasticity in a market index on the Bombay Stock Exchange, from April 1979 to March 1995. We find strong evidence of heteroscedasticity in daily, weekly and monthly returns. The conditional variance of all three data series seem best approximated by...