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Publications
Publications (91)
Purpose
The study assessed the value relevance of residual income (RI) model of Li and Mohanram (2014) in terms of bias and accuracy in Indian stock market. In addition, it examined whether value-to-price (V/P), which operationalises intrinsic value (V) using cross-sectional earnings projections, can account for the distribution of contemporaneous...
Stock market forecasting is a complex yet crucial task in financial analytics, as accurate predictions can significantly aid investors, analysts, and policymakers in making informed decisions. Traditional statistical models such as ARIMA have long been employed for time-series forecasting; however, they often struggle with capturing the non-lineari...
This study employs the Maximal Overlap Discrete Wavelet Transform technique to analyze the wavelet-based correlations between Bitcoin, bond markets, and thirteen sectoral stock indices in India over the period from 2017 to 2023, focusing on the comparison of pre-and post-COVID-19 pandemic effects. The aim is to investigate the dynamic interrelation...
Purpose
The objective of the study is to shed light on the notion of quality investing in the Indian stock market. The study also attempts to combine the value and quality metrics to test their ability to generate a higher risk-adjusted return.
Design/methodology/approach
The paper employs asset pricing models to examine the excess risk-adjusted r...
This bibliometric paper investigates the research landscape in emerging bond market literature, spanning 1993 to 2023, and encompasses a total of 325 research articles. Employing a multifaceted approach, it begins by examining publication trends, core journals, prominent authors, influential articles, and keyword dynamics, providing a comprehensive...
The article aims to empirically examine the determinants of the 10-, 7-, and 5-year Indian government bond yields over the study period of 1999–2021. For this purpose, three equations were modeled using various independent variables to account for relevant global and domestic drivers. The results were estimated using the ARDL model to identify the...
For solving the problems related to prediction of time series data the Artificial Intelligence models i.e. Machine learning and deep learning are becoming popular. These models have been proven to deliver greater accuracy than traditional regression models. Among these, Recurrent Neural Networks (RNNs) with features (e.g. memory storage), such as L...
Taxes have always been an indispensable part of state revenue. They have existed as old as the existence of civilizations themselves. The question of enforcing compliance has always been an aspiring goal for the exchequer. Compliance is not everything about enforcement for tax collections alone; it carries attempts of modern-day states to build an...
The advent of exchange traded funds (ETFs) has rendered index trading much affordable compared to their futures counterparts. The present study attempts to examine the impact of ETF listing on the price of the constituent securities of the index that it aims to track. The sample comprises of all the equity ETFs listed in India from 1 January 2002 t...
The present study attempts to examine the tracking ability of Indian equity exchange traded funds (ETFs) across the bearish and bullish market regimes. Also, ETFs’ sensitivity to their respective underlying indices across the two market conditions is examined so as to gain an insight into the differences in risk exposure under the two regimes using...
This paper investigates the profitability of a candlestick reversal pattern ‘Shooting Star’ in Indian stock market. Its profitability is investigated by using daily data of Nifty 50 component stocks over the period from January 1, 2000 till December 31, 2017. Seven different trading strategies based on shooting star are tested using bootstrapped sk...
The paper examines the relative efficiency of gold Exchange Traded Funds (ETF) against spot gold and gold futures in Indian scenario using a series of conventional and threshold cointegration statistics. The results reveal that gold ETFs and spot gold as well as gold ETFs and gold futures converge together in the long run. Also, movements in spot p...
Academic studies have found that mutual fund managers fail to beat their respective benchmark index. As a result, index investing is considered a better alternative. This paper examines the long run performance of selected 27 stock indices operational at NSE (National Stock Exchange, India) to determine the best performing index in each category, t...
Commodity exchange traded funds (ETFs) help investors gain exposure to the underlying commodity in digital form. The present article attempts to examine the performance characteristics of 12 gold ETFs in India across the bear and bull markets. ETFs’ sensitivity to their underlying asset (gold prices) is observed to be lower during the bearish marke...
The responsiveness of tax revenues vis-a-vis changes in national income (or the tax base) may not always be consistent. Specifically, in developing economies where the tax base is already skewed and narrow, tax revenues may perhaps not turn out to be responsive to changes in economic growth. Hence, the present study is an attempt to estimate income...
Exchange traded funds (ETFs) have emerged as a new investment vehicle in the mutual fund industry providing investors with the ability to trade the entire market through a single transaction executed at the exchange. Using a sample of 12 equity ETFs from 1 April 2011 to 31 March 2015, the present article attempts to examine the performance efficien...
Purpose
– The purpose of this study is to examine the relevance of an accounting-based fundamental strategy in adding value to value stocks in Indian stock market. The fundamentals-based investment strategy “F-score”, given by Joseph Piotroski, has been used on stocks having high book-to-market ratio to eliminate the firms with poor future prospec...
This study aims at analyzing the effect of marketing practices of liquor sellers on social health of the society. A descriptive research was conducted on 583 male respondents, consuming liquor, in the age group of 18 to 25 years in the state of Punjab (India). The data was collected through survey by distributing questionnaires and analyzed using f...
The present study seeks to explore the various important determinants of tax-revenue in India besides suggesting measures to improve the tax generation in India. The data has been collect over a period of 13 years, i.e., from 1999-2000 to 2011-2012. The findings of the principal component analysis revealed that three factors influence tax revenue p...
Purpose
– The purpose of this paper is to examine the applicability of stock selection criteria of Benjamin Graham in Indian capital market to determine which rules specifically can help the investors to augment their return on investment.
Design/methodology/approach
– The independent sample t-test has been employed to examine the stock return dif...
Using the data on stocks listed on Bombay Stock Exchange for the period spanning from 1996 to 2010, the present study intends to examine the profitability of stock selection criteria of Benjamin Graham in Indian capital market. The different risk–reward combinations of the criteria and the minimum number of principles to be followed by a stock have...
Using the data on stocks listed on Bombay Stock Exchange (BSE) for the period spanning from 1996 to 2010, the present study intends to examine the relevance of stock selection based on net current asset value rule of Benjamin Graham in Indian capital market. This valuation metric is aimed at buying the securities whose prices are lesser than the ne...
Purpose
The purpose of the paper is to determine the factors that lead to satisfaction of the customers as regards to e‐banking services provided by selected banks in India.
Design/methodology/approach
Survey method was used to conduct the study. Data were collected through a well structured questionnaire from a sample of 350 respondents.
Finding...
Purpose – The purpose of this paper is to determine the factors that have an impact on customer satisfaction as regards the working of select Indian universal banks. Design/methodology/approach – The study was conducted using the survey method. Data were collected through a well-structured questionnaire from a sample of 456 respondents. Findings –...
The study attempts to find popular and unpopular television programme categories among the Indian audience and its implications for commercial broadcasters and advertisers. Empirical analysis of data collected from 520 respondents revealed that programme categories popular among the respondents are soap operas, infotainment, news, reality shows and...
Examining customer satisfaction has been a common practice among banking and finance researchers over the years. The main reason for continued interest in this area of research is the ever changing banking business environment across the world. The objective of the present paper is to investigate the determinants of customer satisfaction of Indian...
A poorly designed tax structure results in several problems like high compliance costs, tax evasion, and so on. In this context, taxpayer‘s attitude can play a vital role in tax policy-making of any country. The present article is an attempt to study the attitude of Indian taxpayers as regards tax policy design and implementation. The study is base...
In the present paper, an attempt has been made to estimate the compliance burden (i.e. expenditure on various tax-activities like record-keeping, fees paid to professionals etc.) borne by individual assessees in India. From the various activities considered in this study that involves cost, it can be concluded that for most of the tax-activities, t...
The study attempts to evaluate the job satisfaction level of Universal bank employees in India. It focuses on identifying the factors of job satisfaction and their influence on the overall job satisfaction level of Universal bank employees. Data were collected from a sample of 200 bank employees, using convenience sampling technique. Exploratory fa...
In the present study, an attempt has been made to estimate the compliance costs borne by individual income taxpayers in India and Federal US, besides tracing the reasons why taxpayers avail services of tax professionals for filing tax returns. For most of the tax compliance activities considered in the present study, a monetary burden of upto Rs. 1...
Tax consultants play a very significant role in the revenue collection process by helping their clients understand the complex tax system and meet their legal obligations. In India, much effort has not been devoted to analyze the views of tax consultants pertaining to the reasons that enabled the use of their services by the clients. The objective...
