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Kumar, Pardeep
- An Investigation of Pricing Efficiency of CPSE ETF in India
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Authors
Affiliations
1 UBS, Panjab University, Chandigarh, IN
1 UBS, Panjab University, Chandigarh, IN
Source
Journal of Commerce and Accounting Research, Vol 7, No 2 (2018), Pagination: 28-33Abstract
The study empirically examines the pricing efficiency of CPSE ETF in India, listed on National Stock Exchange (NSE). The study covers a period of three years i.e. from 1st April, 2014 to 31st March, 2017. For the purpose of analysis the study employs different statistical tools. Simple linear regression is used to test the relationship between NAV of ETF and price of ETF. Further rupee difference and percentage difference is calculated to find out the price deviation i.e. premium/discount. Descriptive statistics were also used for the purpose of analysis. The regression result suggests a very close relationship between the NAV of CPSE ETF and its market price. During the study period, on average CPSE ETF was traded at discount. But the discount was economically insignificant and does not provide arbitrage opportunity to the market participant. It was concluded that market for CPSE ETF is price efficient.Keywords
Exchange Traded Funds, Regression, Pricing Efficiency, Premium/Discount.
- A Study on Relationship Between Stock Market Returns and Mutual Fund Flows
Abstract Views :351 |
PDF Views:1
Authors
Affiliations
1 University School of Business, Chandigarh University, Mohali, Punjab, IN
2 Continental Group of Institutes, Fatehgarh Sahib, Punjab, IN
1 University School of Business, Chandigarh University, Mohali, Punjab, IN
2 Continental Group of Institutes, Fatehgarh Sahib, Punjab, IN
Source
Journal of Commerce and Accounting Research, Vol 9, No 1 (2020), Pagination: 1-5Abstract
Stock market returns and the capital flow of funds in the mutual funds have been universally understood to be interlinked. The prevailing more and more contribution of the mutual funds in the stock market, on the one hand, and the profound impact of rising stock market returns on getting higher investments in mutual funds, on the other, have undoubtedly made the relationship between share market and mutual fund flows to be of prime significance for the key participants and other stakeholders of both the markets. In this published research paper, the academic researcher attempts assessing the prominent presence of any association between the stock market returns and mutual fund assets under management in India by employing the multiple regression analysis. It has been reasonably concluded that there is no significant evidence of the presence of any such relationships in Indian markets during the period of study.Keywords
Mutual Fund, Regression, Relationship, Stock-Market.References
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