In today's business world, accounting is defined as not only a tool for measuring financial figures, but also a foolproof system that can measure and manage the value. This has forced the companies to re-think on their internal processes so that the process also meets the value definition of the...

Year 2009 will remain etched in the history of Financial Statement Fraud (FSF) since the Satyam fraud of $1.47 billion in software industry took place that year in India. FSF ultimately leaves the investors deprived. Hence, today's investors need a tool or technique that can help them to find...

Economic Value Added (EVA) has received a lot of recognition as a measure of shareholder value creation. While the measure has been widely used for the purpose all over the world, many research studies have appeared to examine variety of issues related to EVA. An attempt has been made in this...

Seasonality in stock markets is a regular and repetitive phenomenon occurring at some regular intervals of time, which may generate abnormal or excess returns. This paper explores the existence of seasonality in Indian stock market in four forms, namely, day-of-the-week effect, month-of-the-year...

Recent research has witnessed a major shift in financial studies—from traditional finance to behavioral finance. The rejection of Efficient Market Hypothesis (EMH), several times, has led to a new era of financial studies. Herd behavior is one of the major areas of behavioral finance. Herding,...

Direct taxation is a major instrument for revenue mobilization and becomes essential for sustainable economic development. India, being a large and rapidly emerging economy, has very strict laws regarding taxation. But still the government has to face a serious threat to revenue mobilization in...