Browsing Working Papers by Author "Varma, Jayanth R."

Now showing items 21-40 of 45

    • Is the BSE sensitive index better than the National Index? 

      Varma, Jayanth R. (2010-03-29)
      Stock prices indices are used extensively by investors, brokers and portfolio managers as a general indicator of the stock market conditions. They are also used extensively in finance theory notably in operationalizing the ...

    • Market valuation model under differential taxes inflation recurring investments and flotation costs 

      Raghunathan, V.; Varma, Jayanth R. (2010-03-22)
      The extent literature on valuation identifies several important variables affecting the value of a firm. These include, corporate and personal taxes, reinvestments, leverage, dividend policy, and inflation. But, most of ...

    • Mastershares: enigmatic performance 

      Barua, Samir K.; Varma, Jayanth R. (2010-03-23)
      In this paper we have examined the performance of Mastershares, the first all equity close ended growth fund established by the Unit Trust of India (UTI) in the country, using the various portfolio performance measures ...

    • Mastershares: market prices divorced from fundamentals 

      Barua, Samir K.; Varma, Jayanth R. (2010-03-31)
      The shares of a closed-end Mutual Fund may be regarded as derived securities because their value depends entirely on the prices of securities that comprise the fund portfolio. Therefore, the Net Asset Value (NAV) of ...

    • Mispricing of volatility in the indian index options market 

      Varma, Jayanth R. (2010-01-16)
      This paper examines the relationship between index futures and index options prices in India. By using futures prices, we eliminate the effect of short sale restrictions in the cash market that impede arbitrage between the ...

    • Modelling credit risk in Indian bond markets 

      Varma, Jayanth R.; Raghunathan, V. (2010-01-16)
      Government bonds are subject only to interest rate risk. However, corporate bonds are subject to credit risk in addition to interest rate risk. Credit risk subsumes the risk of default as well as the risk of an adverse ...

    • Narasimham committee report- some further ramifications and suggestions 

      Varma, Jayanth R.; Ragunathan, V.; Korwar, A.; Bhatt, M. C. (Indian Institute of Management Ahmedabad, 1992-02-01)
      This paper while agreeing with the general thrust of the Narasimham committee report. Calls attention to some logical corollaries of the report and analyses some possible fall-out from implementing the Report . We agree ...

    • Narasimham committee report: some further ramifications and suggestions 

      Varma, Jayanth R.; Raghunathan, V.; Korwar, A.; Bhatt, M. C. (2010-03-31)
      This paper while agreeing with the general thrust of the Narasimham Committee Report, calls attention to some logical corollaries of the Report and analyses some possible fallout from implementing the Report. We agree ...

    • Performance of quality factor in Indian equity market 

      Jacob, Joshy; K.P., Pradeep; Varma, Jayanth R. (Indian Institute of Management Ahmedabad, 2022-12-06)
      We study the characteristics of Quality factor (QMJ) in India, which is the sec- ond largest emerging market. Dimensions of quality factor are impacted by the weaker enforcement of corporate governance norms in emerging ...

    • Real estate and infrastructure resolution 

      Varma, Jayanth R.; Morris, Sebastian (2019-09-19)
      We propose a mechanism that uses the financial markets to mobilize the resources of a large population of investors, to revive the impaired assets in the real sector in India today. This should also allow the economy to ...

    • Reform of the Fiscal and Subsidy Regime for the Petroleum Sector (Based on a Report Commissioned by the Petroleum Federation of India) 

      Morris, Sebastian; Varma, Jayanth R.; Barua, Samir K. (2011-05-26)
      Problems in the oil sector emanate from the structure of central taxes and the system of subsidization through prices. Solutions to the problems necessarily have to address both tax and subsidy simultaneously. The social ...

    • Regulatory framework for mutual funds 

      Barua, Samir K.; Varma, Jayanth R.; Venkiteswaran, N. (2010-03-31)
      The financial services industry in the Indian economy is undergoing a sea change. One major change that has taken place in the last few years is the establishment of a large number of mutual funds. It is widely recognized ...

    • A regulatory framework for mutual funds 

      Barua, Samir K.; Varma, Jayanth R.; Venkiteswaran, N. (2010-03-20)
      The financial services industry in the Indian economy is undergoing a sea change. One major change that has taken place in the last few years is the establishment of a large number of mutual funds. It is widely recognized ...

    • Regulatory implications of monopolies in the securities industry 

      Varma, Jayanth R. (2010-01-16)
      Since the mid-1990s, investors and regulators have benefited from a high degree of competition in the Indian securities industry. Even more than all the policy changes that have taken place, it is technology and competition ...

    • Rejuvenation of jute industry: role and potential of diversified products 

      Moulik, T. K.; Shukla, P. R.; Varma, Jayanth R. (2010-03-21)
      For more than a century, jute industry occupied a very important position in the national economy of India. However in late 70's a serious jute imbroglio started and large number of ills have closed down or are running ...

    • Research on the Indian capital market: a review 

      Barua, Samir K.; Ragunathan, V.; Varma, Jayanth R. (2010-03-26)
      In this paper we present a review of research done in the field of Indian capital markets during the fifteen years from 1977 to 1992. The research works included in the survey were identified by two search procedures. ...

    • Rupee-dollar option pricing and risk measurement: jump processes, changing volatility and kurtosis shifts 

      Varma, Jayanth R. (2010-03-28)
      Exchange rate movements in the Indian rupee (and many other emerging market currencies) are characterised by long periods of placidity punctuated by abrupt and sharp changes. Many, but by no means all, of these sharp changes ...

    • Sebi's regulatory priorities: need for change 

      Barua, Samir K.; Varma, Jayanth R. (2010-04-17)
      Genesis and Function: SEBI was created in 1988 to reform and regulate the securities markets in India. It was given statutory powers in 1992 and assigned the following functions and responsibilities: * Make rules and ...

    • Securities scam genesis, mechanics and impact 

      Barua, Samir K.; Varma, Jayanth R. (2010-03-24)
      This paper presents a plausible reconstruction of how the scam originated, how it was perpetrated, and what would be its aftermath. The paper is expository in nature and the authors make no claims to omniscience.

    • Shiny alternative for finance in the classroom 

      Varma, Jayanth R.; Virmani, Vineet (Indian Institute of Management Ahmedabad, 2017-03-31)
      Despite the popularity of open-source languages like R and Python in modern empirical research and the data-science industry, spreadsheet programs like Microsoft Excel remain the data analysis software of choice in much ...