Indian Journal of Finance最新文献_第5页

Applications of Machine Learning and Determinants of Dividend Decision : Evidence from Indian Firms 机器学习的应用和股利决策的决定因素:来自印度公司的证据

Indian Journal of Finance Pub Date : 2023-05-03 DOI: 10.17010/ijf/2023/v17i5/171154

Sandeep Vodwal, Vipin Negi

引用次数: 0

Pay with Confidence : A Thematic Analysis of User Intentions and Perceptions on Third-Party and Banking Payment Apps 放心支付：用户对第三方和银行支付应用的意向和认知的主题分析

Indian Journal of Finance Pub Date : 2023-05-01 DOI: 10.17010/ijf/2023/v17i5/172735

S. Pahari, A. Manna, Debasish Biswas

引用次数: 0

Market Warnings : Learning from the Short-Term Impact of COVID-19 on Stock Market Constituents 市场警告：从新冠肺炎对股市成分的短期影响中吸取教训

Indian Journal of Finance Pub Date : 2023-04-03 DOI: 10.17010/ijf/2023/v17i4/170094

C. Sharma, Archana Singh, Rajan Yadav

{"title":"Market Warnings : Learning from the Short-Term Impact of COVID-19 on Stock Market Constituents","authors":"C. Sharma, Archana Singh, Rajan Yadav","doi":"10.17010/ijf/2023/v17i4/170094","DOIUrl":"https://doi.org/10.17010/ijf/2023/v17i4/170094","url":null,"abstract":"Purpose: The paper investigated the short-term impact of the lockdown announcement due to COVID-19 on various industries in India using firms' stock returns and credit ratings. Design/Methodology: The paper used event study methodology to analyze abnormal returns on stocks and credit rating changes of firms following the lockdown to understand the impact on the debt servicing of firms. Findings: The paper found a heterogeneous impact of lockdown on various industries. Pharmaceuticals, chemicals, FMCGs, and telecom sectors saw positive abnormal returns, while textiles, financial services, construction, services, cement, and automobile sectors were the worst affected. The paper also found that smaller companies were more susceptible to the effects of such lockdowns. Indian subsidiaries of foreign MNCs and Central Government-owned firms fared better than privately-owned domestic firms. The debt servicing ability of firms was unimpacted due to the debt relief package announced to mitigate the impact of the lockdown. Practical Implications: The paper's findings have implications for investors and managers who can make informed decisions in advance to reduce the risk to their investment if such a black swan event is expected. The paper's findings could help policymakers identify sectors that require immediate support due to the disruption from such an event. Originality: The paper is unique in investigating the impact of the lockdown due to COVID-19 on companies across different industries, with different ownership groups and sizes. We have not come across such a detailed study investigating the impact of COVID-19 on various industries in India. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.","PeriodicalId":38337,"journal":{"name":"Indian Journal of Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48030614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Evaluation of Nexus Between Short-Run Return Measures of IPOs in India 印度IPO短期回报率指标之间的相关性评估

Indian Journal of Finance Pub Date : 2023-04-01 DOI: 10.17010/ijf/2023/v17i4/172696

A. Singh, Kawal Gill, S. Kalra

引用次数: 0

Integration of Bond Markets and Portfolio Diversification : Evidence from the 2008 Global Financial Crisis 债券市场一体化与投资组合多元化:来自2008年全球金融危机的证据

Indian Journal of Finance Pub Date : 2023-04-01 DOI: 10.17010/ijf/2023/v17i4/172697

Ritesh Patel, Divyesh Gandhi, M. Patel, Tejas M. Modi

引用次数: 1

Impact of Economic Policy Uncertainty on the Indian Stock Market : An Empirical Investigation 经济政策不确定性对印度股市影响的实证研究

Indian Journal of Finance Pub Date : 2023-03-01 DOI: 10.17010/ijf/2023/v17i3/172672

Naman Kalra, Gaurav Gupta

引用次数: 0

Financial Contagion between Crude Oil, Gold, and Equity Sectors in India during COVID COVID期间印度原油、黄金和股票行业之间的金融传染

Indian Journal of Finance Pub Date : 2023-03-01 DOI: 10.17010/ijf/2023/v17i3/172670

V. Pandey

{"title":"Financial Contagion between Crude Oil, Gold, and Equity Sectors in India during COVID","authors":"V. Pandey","doi":"10.17010/ijf/2023/v17i3/172670","DOIUrl":"https://doi.org/10.17010/ijf/2023/v17i3/172670","url":null,"abstract":"Purpose: This study examined the financial contagion between crude oil and gold prices with the equity prices of different sectors in the Indian equity market during the recent COVID crisis. Design/Methodology/Approach: Dynamic conditional correlation (DCC) GARCH model was employed to analyze the behavior of time-varying conditional correlation during the time of COVID-19. For examining the financial contagion, regression analysis was performed on the dynamic conditional correlation and the conditional volatilities of the different markets. Findings: The DCC model showed a sharp increase in correlations between markets during the COVID-19 wave. It also suggested the presence of financial contagion between the crude oil and gold markets and the different equity sectors. It also indicated that the COVID-19 effect on the conditional correlation between gold and equity sectors was temporary. In contrast, it increased the correlation between crude oil and the equity sectors. Practical Implications: The findings of this study have implications for portfolio diversification methods because higher correlations lower the benefits of diversification. Originality: This study examined the financial contagion during COVID-19 from crude oil and gold to equity sectors. Not all sectors react in the same way to changes in the prices of these commodities, and some may witness less impact compared to others during the crisis period, which makes it interesting for the study. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.","PeriodicalId":38337,"journal":{"name":"Indian Journal of Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43778755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Performance of Conventional and Sustainable Index in Pre and During the COVID-19 Pandemic : A Comparative Analysis 新冠肺炎大流行前和大流行期间常规指数和可持续指数的表现：比较分析

Indian Journal of Finance Pub Date : 2023-03-01 DOI: 10.17010/ijf/2023/v17i5/172736

Manpreet Kaur Makkar, Atif Ghayas, Nitin Gupta

{"title":"Performance of Conventional and Sustainable Index in Pre and During the COVID-19 Pandemic : A Comparative Analysis","authors":"Manpreet Kaur Makkar, Atif Ghayas, Nitin Gupta","doi":"10.17010/ijf/2023/v17i5/172736","DOIUrl":"https://doi.org/10.17010/ijf/2023/v17i5/172736","url":null,"abstract":"Purpose: There has been a significant increase in the demand for ESG (environmental, social, and governance) investment by investors in recent years. Investors are recognizing that companies that prioritize ESG factors in their operations are more likely to be sustainable and resilient in the long term. The purpose of this study was to examine whether the ESG-responsible firms are performing better than the other firms in the pre-COVID and during the COVID periods. The paper also tried to investigate the impact of COVID-19 cases on the index movement. Methodology: The study employed the descriptive analysis on the financial data of NSE NIFTY 500 and NIFTY 100 Enhanced ESG index. The EGARCH model was applied to estimate the effect of COVID-19 on the volatility of the NIFTY 100 Enhanced ESG index. Findings: The results showed that there was no leverage effect in the ESG index in both periods. That means that the ESG Index can act as a cushion during the pandemic period. The ESG Index outperformed the conventional market index, thus acting as a COVID-19 safe asset class. This gives an opportunity to investors and fund managers to diversify their risk by acting sustainably responsible for society. Practical Implications: This study compared the performance of ESG-indexed firms with that of other firms in the pre-COVID and during COVID time period to check whether there was any difference between them. This study provided empirical evidence for practitioners, policymakers, and academicians in support of ESG investment as it showed that the ESG Index performed better than the conventional index during the COVID period. Originality: This study used secondary data to study the performance of the EGS firms in the pre and during COVID period in order to compare with the other firms. In the context of India, this study may be the first one to compare the performance of the ESG firms with the normal firms in the pre and during the COVID period. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.","PeriodicalId":38337,"journal":{"name":"Indian Journal of Finance","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41480196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Diplomatic Associations and Exchange Rates : A Study on Russia-Ukraine War 外交交往与汇率：俄乌战争研究

Indian Journal of Finance Pub Date : 2023-03-01 DOI: 10.17010/ijf/2023/v17i3/172669

Sayantan Kundu, Aditya Banerjee

引用次数: 0

The Saga of Ruchi Soya Industries Limited : Could Credit Risk Models Predict Bankruptcy? 如池大豆工业有限公司的传奇：信用风险模型能预测破产吗？

Indian Journal of Finance Pub Date : 2023-03-01 DOI: 10.17010/ijf/2023/v17i3/172673

Nidhi Gupta, Vandana Gupta

引用次数: 0