Access the full text.
Sign up today, get DeepDyve free for 14 days.
References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.
The objective of this study is to examine the price and non-price effects of the constituent stocks following the change of the computation methodology of S&P CNX Nifty index from full market capitalisation weighted methodology to the free float market capitalisation weighted methodology in June 2009 in order to resolve whether the demand curves for stocks slope down. This study has followed methodology similar to that of Kaul et al. (2000). The event methodology is used along with cross sectional regressions associating abnormal returns and demand shift. Overall, the empirical evidence in this study supports the downward sloping demand curves for the stocks. The results have implications for one of the basic assumptions in the finance theory, regulators, investors, index providers and managers. To the best of the author's knowledge, this is the first study to examine the slope of demand curves, in such a unique setting without information content.
Afro-Asian Journal of Finance and Accounting – Inderscience Publishers
Published: Jan 1, 2021
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.