Perception of Retail Investors on Web Reporting by Stock Exchanges – Comparison of NSE and BSE Websites

Stock exchange is the barometer of financial markets in any country. The stock exchanges acts as institute for resource mobilization for companies and implement the policy agenda of the government through mandatory disclosures. The website is the apparent face of the stock exchanges through which they communicate with the investors, analyst and researchers. Website has become the new mode of communication between stock exchanges and shareholder/retail investors. The internet revolution and electronic dissemination of corporate information has dramatically increased the role of stock exchange and their websites multifold. Purpose of this research is to assess the perception of various retail investors on informational adequacy, usefulness and user friendliness of web reporting. A questionnaire has been administered on 101 respondents and Factor analysis has been applied on it. Factor analysis study summarised three factors which describe perception of retail investors about web reporting practices by stock exchanges. The paper provides on insight of retail shareholders belief and perception with respect to website reporting by stock exchanges