Market Efficiency of Indian Stock Market

Prakash, A Shanker

• Publisher: Scholars World
• Year: 2021
• eBook ISBN: 9789351305385
• Topic: Business
• Subtopic: Business General
• Index: Business

This book is base on his doctoral dissertation, for the degree of Ph. D. in Banaras Hindu University, title" Market Efficiency of Indian Stock Market". This book will be very helpful to researchers and market players. The key feature of this book is semi-strong form of efficiency testing. There are two exclusive research chapters base on event study model of earning announcement in blu-chip and mid-cap shares. In Indian context, study on semi-strong efficiency in not yet popularized. This book bring new tool and techniques to study an event incorporating in share price

Table of contents

• Preface
• Acknowledgements
• Abbreviations
• List of Tables
• List of Figures
• 1. Introduction and Objectives
• 1.1 Introduction
• 1.2 Conceptual Foundation of Efficient Stock Market
• 1.3 Efficient Market Theory
• 1.4 Genesis of Market Efficiency
• 1.5 Forms of Market Efficiency
• 1.5.1 Weak form of market efficiency
• 1.5.2 Semi-strong form of market efficiency
• 1.5.3 Strong form of market efficiency
• 1.6 Different Models for Testing Weak Form of Market Efficiency
• 1.7 Fantasies of Informational Efficiency
• 1.7.1 The Nature of Market Efficiency
• 1.7.2 The Evidence of Market Efficiency
• 1.7.3 Implications of Efficiency
• 1.8 Significance of Market efficiency
• 1.9 Objectives of the study
• 1.10 Hypotheses
• 1.11 Data and Methodology
• 1.12 Relevance and Scope
• 1.13 Scheme of Presentation
• 2. Review of Literatures
• 2.1 Introduction
• 2.2 Stock Market Efficiency in International Markets
• 2.2.1 Asian Stock Market Studies Other than India
• 2.2.1.1 Pakistan Market Studies
• 2.2.1.2 Bangladesh Market Studies
• 2.2.1.3 Nepal Market Studies
• 2.2.1.4 China Market Studies
• 2.2.1.5 Japan Market Studies
• 2.2.1.6 Thai Market Studies
• 2.2.1.7 Turkey Market Studies
• 2.2.1.8 UAE Market Studies
• 2.2.1.9 Jordanian Market Studies
• 2.2.1.10 Multiple Stock Market Studies
• 2.2.2 U.S. Market Studies
• 2.2.2.1 Brazilian Market Studies
• 2.2.3 African Stock Market Studies
• 2.2.3.1 Tunisian Market Studies
• 2.2.3.2 Ghana Market Studies
• 2.2.3.3 Nigeria Market Studies
• 2.2.4 Australian Stock Market Studies
• 2.2.5 European Stock Market Studies
• 2.2.5.1 Greek Market Studies
• 2.2.5.2 Bulgarian Market Studies
• 2.2.5.3 Romanian Market Studies
• 2.2.5.4 German Market Studies
• 2.2.5.5 Ukraine Market Studies
• 2.3 Stock Market Efficiency in the Indian Market
• 2.4 Summary
• 3. Indian Stock Market – An Overview
• 3.1 Growth of the Indian Stock Market
• 3.1.1 Bombay Stock Exchange
• 3.1.2 National Stock Exchange
• 3.2 Trading Procedures in Cash Segment of the Stock Market
• 3.2.1 Screen Based Trading System
• 3.2.2 Demat Trading
• 3.2.2.1 Benefits of holding the Demat Account
• 3.2.3 Depositories in India
• 3.2.4 Clearing Procedures
• 3.2.4.1 The benefits of rolling settlements
• 3.3 Insider Trading
• 3.3.1 Disclosure Practices to Restrict Insider Trading
• 3.4 Internet Trading
• 3.5 Types of Stock Market Orders (NSE-NEAT System) – One Step Ahead to Achieve the Efficiency
• 3.6 Investors Services to Increase the Informational Efficiency
• 3.7 Conclusion
• 4. Test of Weak Form of Efficiency of Indian Stock Market
• 4.1 Introduction
• 4.2 Specific Objectives and Hypotheses
• 4.3 Data and Methodology
• 4.3.1 Serial correlation test
• 4.3.2 Unit root tests
• 4.3.3 Runs test for randomness
• 4.4 Empirical Results
• 4.4.1 Test of Runs and Serial Correlation Applied on Returns of Two Market Indices of Indian Stock Market
• 4.4.2 Test of Unit Roots, Serial Correlation and Runs Applied on Returns of Individual Scrips of the NSE-Nifty
• 4.5 Summary of Results
• 5. Test of Semi-Strong Form of Efficiency of Indian Stock Market
• 5.1 Introduction
• 5.2 Specific Objectives
• 5.3 Specific Hypotheses
• 5.3.1 Data
• 5.3.2 Event Date and Windows
• 5.4 Methodology
• 5.5 Empirical Results
• 5.5.1 Scrip wise CAAR result
• 5.6 Conclusion
• 6. Difference in Efficiency of Blue-Chip and Mid-Cap Shares of Indian Stock Market
• 6.1 Introduction
• 6.2 Specific Objective
• 6.3 Specific Hypotheses
• 6.4 Data
• 6.5 Methodology
• 6.6 Empirical Results
• 6.7 Conclusion
• 7. Summary, Conclusion and Suggestions
• 7.1 Prelude
• 7.2 Major Findings
• 7.3 Conclusion
• 7.4 Implications
• 7.5 Limitations
• 7.6 Suggestions
• Bibliography
• Appendix A: List of Sample Blue-Chip Companies
• Appendix B: List of Sample Mid-Cap Companies