Testing the Semi-Strong Form Efficiency of Indian Stock Market
Testing the Efficiency of Indian Stock Market with Respect to Information Content of Corporate Event Announcement
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The present book is significant in several respects. First and foremost thing is that it is one of the few studies testing the efficiency of Indian stock market with respect to information content of corporate events announcements in India with respect to Information Technology (IT) companies. Further, this study used a very large sample containing actively traded IT companies from Bombay Stock Exchange (List A and B1). The present study used the well established event study methodologies for analyzing the efficiency of the information content of corporate events announcements. The results of ...
The present book is significant in several respects. First and foremost thing is that it is one of the few studies testing the efficiency of Indian stock market with respect to information content of corporate events announcements in India with respect to Information Technology (IT) companies. Further, this study used a very large sample containing actively traded IT companies from Bombay Stock Exchange (List A and B1). The present study used the well established event study methodologies for analyzing the efficiency of the information content of corporate events announcements. The results of the study are encouraging. The results of the present study show that the Indian capital market is efficient in the sense that its uses the information relevant for security valuation and for investment decision making. The corporate events announcements information's are captured in stock prices within a short period of few days. The results will be encouraging to finance professionals, analysts, investors, and regulatory agencies because usefulness of accounting information for investment decision making has been indicated by the results.
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