This paper aims to study the relative information shares of spot and futures market at the individual stock level to measure the price discovery in spot and futures market in the Indian capital markets. We find that the spot and futures prices are co-integrated and mutually adjusting. Building...

We examine the impact of the recent financial crisis on institutional trading strategies in the Indian equity markets. We find that foreign institutional investors (FIIs) act as short-term momentum traders or positive feedback traders who demand liquidity. Domestic institutional investors (DIIs)...

Uniform and affordable Internet is emerging as one of the fundamental civil rights in developing countries. However in India, the connectivity is far from uniform across the regions, where the disparity is evident in the infrastructure, the cost of access and telecommunication services to...

We examine the effect of global competition for order flows, which arise due to listing of American Depository Receipts (ADRs) by six Indian firms on the NYSE, on the local market. Using order imbalance data for six months pre- and post-listing periods, which captures order flow dynamics, we...

The study investigates the impact of derivatives listing on stock prices in the Indian capital markets. Significant positive abnormal return around derivative listing is found lending support to the market completion hypothesis. The results support the evidence obtained in the US, the UK and...