We examine the announcement returns of acquisitions made by Indian firms during the period 1995–2011. Our results confirm that the announcement returns to Indian acquirers are on average significantly positive. However, we are first to document that the announcement returns to Indian acquirers...

Several theories like optimal trading range hypothesis, liquidity hypothesis, signaling hypothesis have been advanced in relation to this non-economic corporate event. But still there is need to study the investors' optimizing behavior after stock split. With this focus on optimization of the...

This paper examines the firm characteristics typically preferred by institutional investors before investing in a stock in the Indian equity market, and also explores the implications of such preferences in terms of their subsequent performance. We find that all institutional investors show...

This paper investigates whether a simple accounting based fundamental analysis strategy has earned superior returns within a portfolio of low price-to-book (value) stocks in the Indian equity market over the last decade. In line with Piotrosky (2000) we developed an F-score combining...

A Managerial Ability (MA) Score for Indian firms is estimated using publicly-available accounting data. Firm efficiency, and later managerial ability, is estimated following alternative methodologies, and results compared. A two-step estimation process computes managerial ability: calculating...