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Foreign Institutional Investor'S Impact On Stock Prices In India

Author

Listed:
  • Anand Bansal
  • J.S. Pasricha

Abstract

This paper studies the impact of market opening to FIIs, on Indian stock market behavior. India announced it's policy regarding the opening of stock market to FIIs for investement in equity and related instruments on 14-th September 1992. Using stock market data related to Bombay Stock Exchange, for both before and after the FIIs policy announcement day. An empirical examination has been conducted to assess the impact of the market opening on the returns and volatility of stock return. We found that while there is no significant changes in the Indian stock market average returns, volatility is significantly reduced after India unlocked it's stock market to foreign investors.

Suggested Citation

  • Anand Bansal & J.S. Pasricha, 2009. "Foreign Institutional Investor'S Impact On Stock Prices In India," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 1(2 (Octobe), pages 174-182.
    • Handle: RePEc:shc:jaresh:v:1:y:2009:i:2:p:174-182
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    Citations

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    Cited by:

    1. K L Chawla & Pankaj Kumar Gupta, 2014. "Financial Perspectives of Globalization in Emerging Economies ? Concerns for India," Proceedings of Economics and Finance Conferences 0401601, International Institute of Social and Economic Sciences.

    More about this item

    Keywords

    Foreign institutional investors; Stock prices return; Stock prices Volatility; Foreign Investments.;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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