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Priyan, P. K.
- An Empirical Test of Cross-Market Efficieny of Indian Index Options Market Using Put-Call Parity Condition
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Authors
Affiliations
1 S.K. Patel Institute of Management & Computer Studies, Gandhinagar, Gujarat, IN
2 G.H Patel Post Graduate Institute of Business Management, Vallabh Vidyanagar, Sardar Patel University, Gujarat, IN
1 S.K. Patel Institute of Management & Computer Studies, Gandhinagar, Gujarat, IN
2 G.H Patel Post Graduate Institute of Business Management, Vallabh Vidyanagar, Sardar Patel University, Gujarat, IN
Source
Drishtikon: A Management Journal, Vol 6, No 2 (2015), Pagination: 36-58Abstract
The purpose of the present study is to examine the cross market efficiency of the Indian index options, futures and cash market by testing S&P CNX Nifty index options, by Put-Call Parity condition using spot index values and futures prices. Over a period from April 01, 2008 to March 31, 2012, the daily closing prices of nifty index options contracts, spot values and futures contracts have been used in this research. The results of the sensitivity analysis of violations with respect to time to maturity and moneyness demonstrates that the majority of violations in options contract are exploitable, however, the proportion of exploitable violations severely falls after considering the transaction cost, as most of the profits were wiped out and showing negative profits. Thus, although the Indian index options market shows traces of inefficiency, in totality it is suggested that the Indian index options market is efficient as majority of violations are un-exploitable after incorporating transaction cost.Keywords
Market Efficiency, Options Market, Put-Call Parity Condition.
References
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- www.nse-india.com; www.rbi.org.in
- Strategies of Indian Firms in Coping With Forex Risk Management: An Inquiry Through Case-Research Method
Abstract Views :259 |
PDF Views:90
Authors
Affiliations
1 Shanti Business School, Ahmedabad, IN
2 GH Patel Institute of Management Studies, Sardar Patel University, Vallabh Vidya Nagar, IN
1 Shanti Business School, Ahmedabad, IN
2 GH Patel Institute of Management Studies, Sardar Patel University, Vallabh Vidya Nagar, IN
Source
SDMIMD Journal of Management, Vol 6, No 1 (2015), Pagination: 13-23Abstract
More and more Indian firms are becoming global in their operations - through exports and imports, by setting up manufacturing plants abroad and through joint-ventures and tie-ups. In this process most of them are dealing with multiple currencies. This has increased the overall exposure of Indian firms to foreign exchange-rate fluctuations. How have they been coping with the risk associated with the exchange-rate fluctuations? In order to explore this, the authors have engaged the case-research method. The authors studied 64 cases for this purpose. Of these 27, firms have been handling forex exposure and/or have had at least one near-crisis situation in the past. The remaining 37 cases are Indian firms from sectors like Textiles, IT, Gems and Jewelry, Pharma, Engineering, FMCG and Energy. The study focused on the context of these firms, their business model, the sources of forex exposure and the policies and practices of managing forex exposure risk. The authors have tried to identify the basic factors underlying the forex exposure and to identify patterns, if any, in the coping-strategy. They conclude that the insights would help formulate a generic strategy.Keywords
Case-Research Method, Forex Risk Management, Coping-Strategy.Full Text
- Funding Preferences of Young Entrepreneurs of Gujarat: An Empirical Study
Abstract Views :183 |
PDF Views:0
Authors
Affiliations
1 Anand Institute of Management, Gujarat Technological University, Anand, Gujarat, IN
2 G H Patel Post Gradure Institute of Business Management, Sardar Patel University, Vallabh Vidyanagar, Gujarat, IN
1 Anand Institute of Management, Gujarat Technological University, Anand, Gujarat, IN
2 G H Patel Post Gradure Institute of Business Management, Sardar Patel University, Vallabh Vidyanagar, Gujarat, IN
Source
Journal of Entrepreneurship & Management, Vol 2, No 1 (2013), Pagination: 1-12Abstract
This study makes an attempt to explore the funding preferences of young entrepreneurs of Gujarat towards financing their ventures. For this research, ventures in the knowledge based sector have been selected. The findings revealed that in the initial stages of venture development, these entrepreneurs utilized their personal savings and funds from their family and friends. They have all practiced bootstrapping extensively during the early years. There were not many cases of external funding. The awareness of these entrepreneurs towards risk capital such as angel and venture capital funding was found to be less. The study concludes with various suggestions for better penetrations of early stage financing and support mechanism in Gujarat such as strengthening the role of incubation centres, organizing business plan competitions and raising awareness of the entrepreneurs towards risk (equity) capital options.Keywords
Venture Capital, Angel Investors, Bootstrapping Techniques, Incubation Centres, Entrepreneurs.References
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