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Do Local Investors Exhibit Smart Value Investment? Empirical Evidence from India

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  • Ajay Kumar Chauhan
  • Barnali Chaklader

Abstract

We have studied the investment behaviour of ‘foreign institutional investors’ (FIIs) and ‘domestic institutional investors’ (DIIs) in the Indian stock market for positive feedback trading and smart money value investments. We have collected the daily investment of FII and DII in Indian stock markets along with NIFTY daily returns. We have used multivariate causality approach VAR and found that FII investments follow positive feedback trading approach whereas DII follow smart money value investments in the Indian stock market.

Suggested Citation

  • Ajay Kumar Chauhan & Barnali Chaklader, 2023. "Do Local Investors Exhibit Smart Value Investment? Empirical Evidence from India," Global Business Review, International Management Institute, vol. 24(5), pages 833-844, October.
    • Handle: RePEc:sae:globus:v:24:y:2023:i:5:p:833-844
    DOI: 10.1177/0972150920915330
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    References listed on IDEAS

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