The paper analyzes the insolvency risk of commercial banks in India for the period 1998-2007. This has primarily been motivated by the changes in the structure and conduct consequent upon the banking sector reforms which have gradually brought the much-desired dynamic and competitive forces into...

This study is an attempt to examine the interlinkages between equity prices of Bombay Stock Exchange Sensex (BSE Sensex) and select macroeconomic variables in India in a time series framework. In the first stage of the empirical investigation, the study tries to investigate both the long-run and...

This paper is an attempt to examine the reliability and usefulness of ex ante measures of portfolio formulation by selecting securities from a well-defined sampling frame. Four indices are employed to achieve the objectives of the study, namely, Sharpe index, Treynor index, Jensen index and...

This study examines the relationship between fund performance and fund characteristics. The fund performance is measured by fund return and its determinants are measured by standard deviation, fund size, turnover ratio, income ratio and expenses ratio. The study employs panel data analysis and...

We combine the momentum and contrarian approaches, using relative strength of individual stocks in the market, to develop a robust indicator called return percentile. It picks up those stocks which have been performing well over an intermediate-term window, but have underperformed in a...

The equity premium puzzle is one of the most important phenomena in finance. Related to behavioral finance, we use the concept of Myopic Loss Aversion (MLA) to explain the puzzle in developed and emerging markets. Empirically, we support the robustness of the positive equity premium across the...