System-wide liquidity is an important determinant for the pricing efficiency of any asset market and bond markets are no exception. Research on Indian Bond markets is scarce, and very few studies have examined the impact of idiosyncratic factors on bond returns. This paper, probably the first of...

Objective: Bonds experience high trading volume right after their issuance. Outstanding amount of a bond is built by multiple follow on reissuances. Trading volume also picks up when bond is reissued. This paper investigates impact of bond's age since issuance on its weekly trading volume. In...

Traditional measures of assessment of mutual fund performance (alpha) are based mostly on Capital Assets Pricing Model which presupposes fixed sensitivity of risk exposure of a fund to its market proxy (beta). However, changing economic conditions will alter this relationship. In conditional...

We attempt to estimate the likelihood of the integration of Indian stocks with the world market using Markov regime switching model. Bekaert and Harvey (1995)'s empirical model has been suitably extended to accommodate GARCH-M effect to estimate the level of integration. Given the small sample...

In this paper we have analyzed borrower over-indebtedness in microfinance, using multiple financial ratio based measures representing different facets of borrower-over-indebtedness namely, liquidity, debt absorption capacity and solvency of the borrowing household. Our data shows that the...