scholarly journals ADR ON CLIENT’S DISPUTE WITH TRADING MEMBER AT THE LEADING STOCK EXCHANGE IN INDIA: AN EMPIRICAL STUDY

2020 ◽  
Vol 4 (3) ◽  
pp. 1-7
Author(s):  
Bezawada Brahmaiah
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Emerging Markets ◽  
Stock Exchange ◽  
Developed Countries ◽  
Regulatory Framework ◽  
Securities Market ◽  
Case Method ◽  
Trading Rules ◽  
Study Results

The paper evaluates trading rules and regulations of the Stock Exchange in cash segment of the stock market in India. The paper adopts case method to study the trading rules and practices of trading members of the Exchange. It investigates the stock market’s misuses and abuses by the trading members. The paper provides guidance for the appropriate regulatory framework to Indian securities market and ensures investors’ protection. The results may be generalized in the emerging markets. Hence, researchers are encouraged to study results further in other developed countries. The paper finds that these practices are not only violation of trading rules of the Stock Exchange but also unfair and unethical trading practices.

scholarly journals Dispute Resolution on Unauthorized Liquidation of Futures Positions at the Leading Stock Exchange in India: A Case Study

2020 ◽  
Vol 4 (1) ◽  
pp. 65-68
Author(s):  
Bezawada Brahmaiah
Keyword(s):  
Stock Exchange ◽  
Developed Countries ◽  
Futures Trading ◽  
Trading Rules ◽  
Study Approach ◽  
Study Results ◽  
Research Findings ◽  
Derivative Market ◽  
Method Approach

The paper studies compliances of Futures Trading rules and regulations of the Stock Exchange .in the derivate market in India. The paper applies case method approach to study the trading practices of trading members of the Exchanges. It investigates the derivative market’s misuses and abuses by the trading members of the Exchange. The paper provides guidance for the appropriate regulatory framework to curtail violations of rules and regulations in Indian derivative market, and enables the investor protection. The results may be generalized in the emerging markets. Hence, researchers are encouraged to study results further in other developed countries. The paper finds that these practices are not only violation of trading rules of the Stock Exchange but also unfair and unethical trading practices. The research findings and results may lack generalizability in a case study approach.

scholarly journals UKRAINIAN STOCK MARKET: STATE AND PROSPECTS OF DEVELOPMENT

2020 ◽  
Vol 11 (87) ◽  
Author(s):  
Okseniuk Kateryna ◽  
Keyword(s):  
Stock Market ◽  
Innovation Policy ◽  
Stock Exchange ◽  
Securities Market ◽  
Stock Exchanges ◽  
Government Bonds ◽  
Market State ◽  
Legislative Framework ◽  
High Degree ◽  
Securities Trading

The article is devoted to the study of the current state, problems and prospects of development of the Ukrainian stock market. It is proved that the stock market is a tool for implementing the state's Innovation Policy and a priority factor in mobilizing financial and capital resources. Stock market commodities are securities (stocks, bonds, etc.). Trends, features of functioning and development of the Ukrainian stock market are analysed. The analysis of the main indicators of exchanges, the structure and volume of exchange contracts with securities is carried out. The structural distribution of exchange contracts by trading organizers is established. The analysis of operations with securities on the organized market, unorganized market and stock exchanges of the country is carried out. The largest volume of trading on financial instruments on trade organizers in 2019 was recorded with government bonds of Ukraine – UAH 295 billion according to the National Securities and stock market Commission, the exchange market during 2019 saw consolidation of securities trading on two stock exchanges “Perspektyva” and “PFTS Ukraine Stock Exchange”: 98.7% of the value of exchange contracts. Analysis of the main indicators that determine the state of the stock market has shown that the modern securities market of Ukraine is characterized by an extremely high degree of fragmentation, limited liquidity and a variety of types of securities, which, in turn, are the main obstacles to the development of the stock market and the capital market as a whole. Attention is focused on the main problems that hinder the functioning of the stock market. It is proved that the development of the stock market is hindered by: insufficient competitiveness of the domestic stock market; imperfect tax incentives for market development; low level of corporate governance development; imperfect regulatory and legislative framework of Ukraine; low liquidity and capitalization. The directions of development of the stock market of Ukraine are proposed: improving the efficiency of regulation of issuers; stimulating the inflow of investment to the stock market; ensuring reliable and efficient functioning of the market infrastructure; ensuring the functioning of the unified state policy for stimulating the improvement of the investment climate.

scholarly journals Investors’ Perception for Transforming Traditional Stock Market into Islamic Stock Market: An Empirical Study on Dhaka Stock Exchange

2013 ◽  
Vol 2 (2) ◽  
pp. 93-104
Author(s):  
Md. Saheb Ali Mondal ◽  
◽  
Nazma Akter ◽  
Mohammad Afsar Kamal ◽  
◽  
...  
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Stock Exchange

STOCK MARKET IN A PANDEMIC, TRENDS IN ITS DEVELOPMENT AND IMPACT ON THE ECONOMIC ENVIRONMENT OF STATES

2021 ◽  
pp. 60-73
Author(s):  
Vladimir M. Gribanich ◽  
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Cash Flows ◽  
The State ◽  
Securities Market ◽  
Source Data ◽  
The Impact ◽  
Graphical Presentation ◽  
Official Information ◽  
Systematic Collection

The article is devoted to the analysis of the development of the stock market, its stages of development and the impact on the economic conjuncture of countries. The relevance of studies on the development of the stock market in modern realities is growing every day, the number of transactions also grows steadily despite the pandemic, and that forms huge cash flows. The purpose of the study carried out in the article is not only to identify the influence of the stock market on the development of countries in modern conditions, but also to conduct a statistical analysis of data reflecting the state of the main stock exchange indices in a pandemic, as well as to assess the state of the securities market in 2019 and 2020 and work out forecasts for its future development. Several methods were used in the work: analysis of official information sources, statistical observation (systematic collection of information), grouping of the source data, their graphical presentation, as well as building diagrams.

A Random walk down the Dhaka Stock Exchange lane

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Md. Kamrul Bari ◽  
Dr. Melita Mehjabeen ◽  
Dr. A. K. Enamul Haque
Keyword(s):  
Random Walk ◽  
Stock Market ◽  
Market Efficiency ◽  
Long Memory ◽  
Stock Exchange ◽  
Reliable Estimate ◽  
Memory Process ◽  
Long Memory Process ◽  
Study Results ◽  
Adf Test

Market efficiency has always been a matter of keen interest to the researchers of finance. Since the advancement of this concept, researchers are consistently investigating the market efficiency of different financial markets. Bangladesh, being one of the emerging economies, has also attracted the attention of many researchers. The researchers have investigated the realities regarding the market efficiency of both the stock exchanges of the country. Most of their investigations reveal that the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) are inefficient. This research, however, did not stop at revisiting market efficiency alone. Whether the return series follows a long-memory process, has also been tested. Besides, non-parametric tests have also been conducted to confirm the results of the parametric tests and vice versa. It generated a more reliable estimate of market efficiency for the period under study. Results of the Autoregressive Fractionally Integrated Moving Average (ARFIMA) model confirm that the return series does not follow a long memory process, and any shock in the system will eventually vanish. The findings of other tests (the run test, the Augmented Dickey-Fuller (ADF) test, the Kwiatkowski–Phillips–Schmidt–Shin (KPSS) test, and the Kolmogorov-Smirnov (K-S) test) suggest that the return series of the DSE are time-series stationary, non-normal, and do not follow a random walk. Given these results, we must echo the prior researchers to conclude that the stock market of Bangladesh is not efficient for the period of 2015 to 2020. These findings add new knowledge to the existing knowledge pool about market efficiency and long memory of the stock market of Bangladesh.

Bucket Shops and Outside Brokers

2021 ◽  
pp. 20-58
Author(s):  
Kieran Heinemann
Keyword(s):  
World War I ◽  
Stock Market ◽  
Interwar Period ◽  
Stock Exchange ◽  
Securities Market ◽  
New Perspective ◽  
Great Crash ◽  
Retail Activity ◽  
City Of London ◽  
Financial Securities

In order to finance World War I, the British government sold war bonds to millions of investors and savers, thereby prompting a wider interest in financial securities including stocks and shares during the interwar period. Faced with a large intake of investment newcomers, the City of London was anxious of ‘amateur’ involvement in the market. The largest securities market, the London Stock Exchange, restricted access to small investors where possible, which pushed much of the new retail activity to the market fringes. Here, ‘outside brokers’ and ‘bucket shops’ catered for investment newcomers, the more gullible of which fell prey to fraudulent share pushers. Scholars have entirely overlooked this vibrant grey market for financial securities. But it was here—and not just at the organized exchanges—that ever more people made their first experiences with the ups and the downs of the stock market, most prominently in the great crash of 1929. This new perspective brings a sharper contour on some fundamental challenges that Britain’s financial landscape was facing in the interwar period: a large intake of new investors, a resurgence of financial fraud, and a new struggle over the distinction between speculation and gambling. The City’s response to these challenges can be described as financial paternalism. After a surge in political democratization, there was very little appetite to enfranchise ordinary people in the stock market. Instead, institutions like the Stock Exchange deliberately took a conservative stance on the ‘democratisation of investment’.

scholarly journals Market Turnover of Nepalese Stock Market

2018 ◽  
Vol 10 (1) ◽  
pp. 96-100
Author(s):  
Baburam Lamichhane
Keyword(s):  
Stock Market ◽  
Research Design ◽  
Stock Exchange ◽  
Securities Market ◽  
Market Condition ◽  
Exchange Market ◽  
Demand And Supply ◽  
Business Studies ◽  
Descriptive Research ◽  
Share Value

Securities market turnover is one of the major behavioral phenomena of stock market. It always depends on the demand and supply of the securities, so the market turnover assumes a number of trading share units, values of share turnover and percentage share value of stocks. This paper is concerned to analyze the different areas of stock units’ turnover and value coverage of stock market .descriptive research design is applied for analyzing the stock market condition. The coverage of share units and share of value weight is analyzed of Nepal stock exchange market economy.The Journal of Nepalese Business Studies Vol. X No. 1 December 2017, Page: 96-100 

scholarly journals State-Dependent Stock Liquidity Premium: The Case of the Warsaw Stock Exchange

2020 ◽  
Vol 8 (1) ◽  
pp. 13
Author(s):  
Szymon Stereńczak
Keyword(s):  
Stock Market ◽  
Emerging Markets ◽  
Stock Returns ◽  
Stock Exchange ◽  
Market Liquidity ◽  
Liquidity Premium ◽  
Stock Liquidity ◽  
Holding Period ◽  
State Dependent ◽  
Warsaw Stock Exchange

The effect of stock liquidity on stock returns is well documented in the developed capital markets, while similar studies on emerging markets are still scarce and their results ambiguous. This paper aims to analyze the state-dependent variance of liquidity premium in the Polish stock market. The Polish capital market may serve as a benchmark for other emerging markets in the region of Central and Eastern Europe, hence the results of this research should be of great interest for investors and policy makers in Poland and other post-communist European countries. In the empirical, study a unique empirical methodology has been applied, which guarantees the uniqueness of the results obtained. The results obtained suggest that on the Polish stock market exists stock liquidity premium, which is statistically significant, but constitutes only a small fraction of returns. It also does not increase during periods of bearish market, what results from the lengthening of average holding period when market liquidity decreases.

Friday the 13th effect on Indian stock market

2020 ◽  
Vol 07 (02) ◽  
pp. 2050010
Author(s):  
Tarika Singh Sikarwar ◽  
Karuna Shrivastava ◽  
Pratibha Jadon
Keyword(s):  
Stock Market ◽  
Design Methodology ◽  
Stock Exchange ◽  
Emerging Market ◽  
Indian Market ◽  
Study Results ◽  
Developed Nations ◽  
Indian Stock Market ◽  
Work Done ◽  
Practical Implications

Purpose: This paper attempts to investigate the presence of Friday the 13th Effect in the Indian stock market. Design/methodology/approach: This paper tests the presence of the Friday the 13th Effect using different sets of hypotheses for 7 days, 15 days and normal versus Friday the 13th by using statistical methods. Findings: The findings of the study do not support the presence of Friday the 13th Effect for all cases. There are few months for certain specific years where the effect was seen. Research limitations/implications: The Friday the 13th effect has been examined for two major indices of the Indian market, i.e., the Bombay Stock Exchange Index SENSEX and the National Stock Exchange Nifty Fifty Index. However, there are other major and sectoral indices as well where in the effect may be checked. Practical implications: The study results indicate that Indian stock market shows phased anomaly. The effect of Friday the 13th is seen only in some cases during certain years only. Originality/value: Friday the 13th effect has been mostly checked for developed nations and again there has been less work done with respect to this particular market anomaly. The present research is an original work done for emerging market naming India.

scholarly journals Measuring Stock Market Predictability with Implications of Financial Ratios: An Empirical Investigation of Pakistan Stock Market

2020 ◽  
Vol 12 (2) ◽  
Author(s):  
Abdul Samad Shaikh ◽  
Muhammad Kashif ◽  
Sadia Shaikh
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Stock Exchange ◽  
Strong Predictor ◽  
Generalized Least Squares ◽  
Financial Ratios ◽  
Arbitrage Pricing Theory ◽  
Market Returns ◽  
Stock Market Returns ◽  
Study Results

This paper investigates the financial ratios prediction on Stock Market Returns for Pakistan Stock Exchange. The research includes three financial ratios; Dividend Yield (DY), Earning Yield Ratio (EYR) and Book-to-Market Ratio (B/M); that have been observed through past researchers as predictors of Stock Market Returns. The theoretical framework is based on Arbitrage Pricing Theory and Capital Asset Pricing Model CAPM by Roll and Ross (1977) and Fama-French 3 factor (1992). Generalized Least Squares (GLS) is applied to estimate the predictive regressions, Cointegration runs are applied to evaluate the long-term relationship, and Generalized Methods of Moments (GMM) to measure the moments over the years and fluctuations in stock returns. The study results show financial ratios as strong predictor of stock return in Pakistan Stock Exchange, the GMM analyses reveal that the EYR has the higher predictive power than DY and B/M respectively. Furthermore, it is found that the financial ratios predictability is enhanced when ratios are combined in the multiple predictive regression models. The research findings are useful for the stock market investors to evaluate their decisions and for academic researchers to evaluate the stock market and investment predictability.

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