ANAMOLIES IN INDIAN STOCK MARKET

Authors

  • Dr Chand Tandon Professor and HOD New Delhi Institute Of Management

Keywords:

capitalist behavior, conflicting proof, excessive fluctuations, anomalies, Calendar impact

Abstract

The efficient-market hypothesis (EMH) is unique and necessary economic and money hypotheses that are tested over the past century. Because of many abnormal phenomena and conflicting proof, otherwise referred to as anomalies against EMH, some intellectuals have questioned whether or not EMH is valid, and has substantial proof of anomalies, so several theories are developed to clarify some anomalies. This review is helpful to Intellectuals for developing up-to-date treatments of monetary theory that EMH, anomalies, and behavioral Finance underlie. The review is additionally useful to investors for creatingselections of investment merchandise and methods that suit their risk preferences and behavioural traits foreseen from behavioural models. Finally, when EMH, anomalies and behavioural Finance square measure wont to justify the impacts of capitalist behaviour on stock value movements, it’s priceless to policy manufacturers, once reviewing their policies, to avoid excessive fluctuations available markets.

References

Ariel, Robert A. 1987. A Monthly Effect in Stock Returns, Journal of Financial Economics 18(1):161-74.

Bollerslev, Tim, Ray Y. Chou, and Kenneth F. Kroner 1992. ARCH Modeling in Finance: A Review of the Theory and Empirical Evidence. Journal of Econometrics 52(l/2):5-59.

Connolly, Robert A. 1989. An Examination of the Robustness of the Weekend Effect, Journal of Financial and Quantitative Analysis 24(2): 133-69.

French, Kenneth R. 1980. Stock Returns and the Weekend Effect, Journal of Financial Economics 8(l):55-69.

French, Kenneth R., William G. Schwert, and Robert F, Stambaugh. 1987. Expected Stock Returns and Volatility. Journal of Financial Economics 19(l/2):3-29.

Jaffe, Jeffrey E, and Randolph Westerfield 1985 The Weekend Effect in Common Stock Returns: The International Evidence. Journal of Finance 40(2):432-54.

Jaffe, Jeffrey P., Randolph Westerfield, and Christopher Ma 1989 A Twist on the Monday Effect in Stock Prices: Evidence from the U.S. and Foreign Markets. Journal of Banking and Finance 13(SI):641-50.

Lakonishok, Josef, and Seymour Smidt 1988 Are Seasonal Anomalies Real? A Ninety Year Perspective, Review of Financial Studies 1 (4):403-25.

Ogden, J. 1990. Turn-of-Month Evaluation of Liquid Profits and Stock Returns: A Common Explanation for the Monthly and January Effect. Journal of Finance 45(4): 1259-72.

Rozeff, Michael S., and William R. Kinney, Jr. 1976, Capital Market Seasonality: The case of Stock Returns. Journal of Financial Economics 3(4):379-402. 11. Wang, Ko, Yuming Li, a Day-of-the-week and other market anomalies in the Indian stock market| Emerald Insight https://ideas.repec.Org/a/gam/jecomi/v8y2020ilp20-d331591.html https://www.diva-portal.org/smash/get/diva2:1212006/FULLTEXT01.pdf

Downloads

Published

2022-12-31

How to Cite

Tandon, D. C. . (2022). ANAMOLIES IN INDIAN STOCK MARKET. The Journal of Contemporary Issues in Business and Government, 28(4), 73–90. Retrieved from https://cibgp.com/au/index.php/1323-6903/article/view/2439

Issue

Vol. 28 No. 4 (2022): The journal of contemporary issues in business and government

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

You are free to:

  1. Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
  2. Adapt — remix, transform, and build upon the material for any purpose, even commercially.
  3. The licensor cannot revoke these freedoms as long as you follow the license terms.

Under the following terms:

  1. Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
  2. No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.

Notices:

You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .

No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.