Research on the Indian Capital Market: A Review

  title={Research on the Indian Capital Market: A Review},
  author={Samir Kumar Barua and V. Raghunathan and Jayanth Rama Varma},
  journal={Vikalpa: The Journal for Decision Makers},
  pages={15 - 32}
The Indian capital market has been attracting considerable attention in recent years especially after the opening up of the Indian economy. As a result, several researchers have addressed various issues pertaining to the capital market in India. What has been the trend of research in this field over the last 15 years? This article by Barua, Raghunathan, and Varma examines this issue and provides a comprehensive review on the nature of research in the field of capital market in India. In the… 
An Overview of India Capital Markets
In India, the history of capital markets dates back to the 18 th century when East India Company securities traded the country. The present study is largely based on the available secondary data. The
Indian Debt market is the financial market with two segment viz. the government securities market and corporate bond market, but the size of the latter is only about 14% of the total debt market.
Evaluation of Contribution of Debt Market in Indian Financial Market: An Empirical Study
Indian Debt market is the financial market with two segment viz. the government securities market and corporate bond market, but the size of the latter is only about 14% of the total debt market.
Equity market plays a pivotal role in allocating economic resources and contributing to wealth creation in the country. The Market is constantly a target of policy makers for correcting
Analysis of Changes in Investment Trends and Patterns in Indian Capital Markets: A comparative case study of NSE for Pre and Post Crisis period
Article history Received 10 April 2012 Revised 18 November 2012 Accepted 15 December 2012 Available online 15 January 2013 Capital markets are widely considered as an indicator of an economy. These
The existence of the phenomenon of “underpricing” is a well-established fact for the common stock initial public offerings (IPOs). Research concerning the primary capital market is found to be
Globalisation and Capital Market Reforms: Impact on Efficiency of the Indian Stock Market
A healthy and vibrant capital market is important for economic reform and development. Efficient stock markets encourage individuals to invest in shares and give correct signals to company managers
A study on weak form of market efficiency during the period of global financial crisis in the form of random walk on Indian capital market
Purpose - This paper aims to study the weak form of efficiency of Indian capital market during the period of global financial crisis in the form of random walk. Design/methodology/approach - The
Anomalies and Multi-Factor Model for Stock Pricing in Indian Market
Researchers have found that valuation measures have some power to forecast long-horizon (say 10-year) stock market returns. There is no unique valuation measure known to be perfect, and the most
Operating Performance of the Firms Issuing Equity Through Rights Offer
In this paper we analyze operating performance of BSE listed manufacturing firms following rights equity issue and its linkages with firm specific characteristics as hypothesized in the finance


Analysis of the Indian Securities Industry: Market for Debt
In the current liberalized environment, the Indian debt market appears to be all set to take off. With the commencement of trading of debt instruments by the National Stock Exchange this year, the
Inefficiency and Speculation in the Indian Capital Market
Is the Indian capital market inefficient? Does it reward low risk takers with high returns? Barua and Raghunathan argued (“Inefficiency of the Indian Capital Market,” ‘Vikalpa,July-September 1986)
Perspectives: Guidelines on Share Valuation: How Fair is Fair Value?
The Indian capital market has shown signs of buoyancy and dynamism in the recent past. There is a very real need, therefore, to nurture and to give positive direction to the emerging trends in this
A Study of the Wealth Ratios of Indian Companies
This study seeks to find out the extent to which the shareholders of the top companies in the Indian private sector have been benefitted from the investment they have made. Shareholders’ rewards have
A Study on the Share Valuations of Indian Companies
Different share valuation methods are suggested by the Central Board of Direct Taxes for wealth tax purposes. While market price of shares is widely regarded as the fair market value of the shares of
RBI Autonomy and the Indian Financial Sector
In the context of the worldwide trend towards greater independence for the central banks and the recent public pronouncements by the Governor of the Reserve Bank of India (RBI), there is now a strong
Can the Stock Exchanges Support the Envisaged Capital Growth?
The organization and management of the stock exchanges suffer from major weaknesses and malpractices. Reforms have to be brought about urgently, if they have to support the envisaged growth in listed
Efficient Market Hypothesis: Understanding and Acceptance in India
Inspite of some empirical evidence in favor of the capital market efficiency in weak form and mildly in favor of semi-strong form, the capital markets participants allege that the market is
A Regulatory Framework for Mutual Funds
The financial services industry in the Indian economy is undergoing a sea change. One major change that has taken place in the last few years is the establishment of a large number of mutual funds.
Mastershares: A Bonanza for Large Investors
What is the performance of Mastershares the first all-equity, closed-end growth fund launched in 1986 by the Unit Trust of India — from the points of view of funds management, large investors and