Behavioural Finance is an area that needs to be studied within the context of the Indian stock ma... more Behavioural Finance is an area that needs to be studied within the context of the Indian stock market to assist investors in making rational investment decisions. This study examines the existence of herding behaviour in the Indian stock market considering various determinants of herd formation such as rising and declining market conditions and extreme market situations. The study is based on 46 companies selected from NSE Nifty 50 index based on their trading period. The methodology applied to validate the presence of herd formation is Cross-Sectional Absolute Deviation (CSAD) method. The results revealed that over the study period of extreme up market condition and high trading volume has shown herding behaviour in the Indian stock
This paper looks at the relationship between Nifty returns and US Dollar - Indian Rupee Exchange ... more This paper looks at the relationship between Nifty returns and US Dollar - Indian Rupee Exchange Rates. The study looks into the causal relationship between Nifty returns and exchange rate using Granger Causality test. It took daily data covering the period from January, 2009 to June, 2019. In this study, it was found that both variables were non–normally distributed. With the help of Unit Root Test, it was also verified that Nifty returns as well as Exchange rate, were stationary at the first difference form. Using Granger Causality test it is proved there was a bidirectional relationship between Nifty returns and Exchange rates. From the further investigation it is evident there is a causality running from exchange rate return to stock market return. Finally, employing impulse response function it found that there is a negative relationship among the variables.
EPRA International Journal of Economic and Business Review
While Buyback helps companies to invest in themselves by reducing the number of outstanding share... more While Buyback helps companies to invest in themselves by reducing the number of outstanding shares in the market, it increases the investor sentiment with respect to the company as the investors expect an increased Earnings Per Share, When the Earnings Per Share increases, the market react positively and shares prices will increase. This study attempts to examine the significance of stock price behavior around the public announcement of buyback. The effect of public announcement is studied by analyzing the behavior of abnormal returns of ten companies, which made buyback announcement during the financial year 2018–19. The companies were selected from securities exchange board of India (SEBI) and National Securities Exchange (NSE) website that portrays the public announcement of all such companies. This is an event study which attempts to measure the valuation effect of a corporate event, namely public announcement of buyback by examining the response of the stock price around the an...
Behavioural Finance is an area that needs to be studied within the context of the Indian stock ma... more Behavioural Finance is an area that needs to be studied within the context of the Indian stock market to assist investors in making rational investment decisions. This study examines the existence of herding behaviour in the Indian stock market considering various determinants of herd formation such as rising and declining market conditions and extreme market situations. The study is based on 46 companies selected from NSE Nifty 50 index based on their trading period. The methodology applied to validate the presence of herd formation is Cross-Sectional Absolute Deviation (CSAD) method. The results revealed that over the study period of extreme up market condition and high trading volume has shown herding behaviour in the Indian stock
This paper looks at the relationship between Nifty returns and US Dollar - Indian Rupee Exchange ... more This paper looks at the relationship between Nifty returns and US Dollar - Indian Rupee Exchange Rates. The study looks into the causal relationship between Nifty returns and exchange rate using Granger Causality test. It took daily data covering the period from January, 2009 to June, 2019. In this study, it was found that both variables were non–normally distributed. With the help of Unit Root Test, it was also verified that Nifty returns as well as Exchange rate, were stationary at the first difference form. Using Granger Causality test it is proved there was a bidirectional relationship between Nifty returns and Exchange rates. From the further investigation it is evident there is a causality running from exchange rate return to stock market return. Finally, employing impulse response function it found that there is a negative relationship among the variables.
EPRA International Journal of Economic and Business Review
While Buyback helps companies to invest in themselves by reducing the number of outstanding share... more While Buyback helps companies to invest in themselves by reducing the number of outstanding shares in the market, it increases the investor sentiment with respect to the company as the investors expect an increased Earnings Per Share, When the Earnings Per Share increases, the market react positively and shares prices will increase. This study attempts to examine the significance of stock price behavior around the public announcement of buyback. The effect of public announcement is studied by analyzing the behavior of abnormal returns of ten companies, which made buyback announcement during the financial year 2018–19. The companies were selected from securities exchange board of India (SEBI) and National Securities Exchange (NSE) website that portrays the public announcement of all such companies. This is an event study which attempts to measure the valuation effect of a corporate event, namely public announcement of buyback by examining the response of the stock price around the an...
Uploads
Papers by Nithin Jose