tailieunhanh - Foreign Institutional Investment Flows and Indian Stock Market Returns ñ A Cause and Effect Relationship Study

The strong compression of price-earnings multiples, both in the United States and in European and Japanese markets, also would appear to limit the possibilities for Fundamental Indexing™ to produce returns that are higher than those of the broad market indexes. During the late 1990s and early 2000 price-earnings multiples in the . market were unusually disperse. Just over one quarter of the stocks in the Standard & Poor’s 500 Stock Index were within 20 percent of the median P/E multiple of the market. As of 2006 and early 2007, however, well over half the stocks in the. | Foreign Institutional Investment Flows and Indian Stock Market Returns - A Cause and Effect Relationship Study DR. TANUPA Senior Department University By CHAKRABORTY Lecturer Of Commerce Of Calcutta ADDRESS FLAT NO. - 12 23 CENTRAL ROAD JADAVPUR KOLKATA - 700 032 INDIA PHONE R 2412-4973 M 9830175653 E-MAIL tanupachakraborty@ tanupa_cu@ Acknowledgement This research paper is originally published in Indian Accounting Review Vol. 11 No. 1 June 2007 pp. 35-48. pdfMachine - is a pdf writer that produces quality PDF files with ease Get yours now Thank you very much I can use Acrobat Distiller or the Acrobat PDFWriter but I consider your product a lot easier to use and much preferable to Adobe s - USA Foreign Institutional Investment Flows and Indian Stock Market Returns - A Cause and Effect Relationship Study Abstract Foreign Institutional Investment FII flows . capital flows across national borders to emerging market economies EMEs have risen sharply over the past one and half decade due to globalization and India is no exception in this regard. However there is a lot of apprehension regarding the volatile nature of such flows thereby raising questions about the need to encourage FII flows in a narrow and shallow stock market like that of India. There are conflicting theories on the issue of whether FII flows affect or are affected by domestic stock market returns. So the present empirical study has been undertaken to throw some light on the direction of causality between FII flows and Indian stock market returns using data on both the variables from over the period April 1997-March 2005. I. INTRODUCTION International portfolio flows as are commonly known as Foreign Institutional Investment FII flows refer to capital flows made by individual and institutional investors across national borders with a view to creating an internationally diversified portfolio. Unlike Foreign Direct Investment FDI flows which refer to that category of .

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