Browsing Working Papers by Author "Agarwalla, Sobhesh Kumar"

Now showing items 1-16 of 16

    • Are big 4 audit fee premiums always related to superior audit quality? evidence from India’s unique audit market 

      Jacob, Joshy; Desai, Naman; Agarwalla, Sobhesh Kumar (Indian Institute of Management Ahmedabad, 2015)
      In this study we examine the fee premiums earned by Big 4 auditors (B4As) in India. We then try to determine the primary cause of the fee premiums in an Indian context. The B4As charge fee premiums for two primary reasons. ...

    • Betting against beta in the Indian market 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Varma, Jayanth R.; Vasudevan, Ellapulli (Indian Institute of Management, Ahmedabad, 2014)
      Recent empirical evidence from diff erent markets suggests that the security market line is flatter than posited by CAPM. This flatness implies that a portfolio long in low-beta assets and short in high-beta assets would ...

    • Does GST in India hurt producing regions? A new estimate of the tax base under GST of select states 

      Morris, Sebastian; Pandey, Ajay; Agarwalla, Sobhesh Kumar; Agarwalla, Astha (Indian Institute of Management Ahmedabad, 2019)
      GST as introduced in India being a destination based tax, does not encourage regions to vigorously promote manufacturing and tradable services industries. Being in the midst of its economic transformation, and given the ...

    • Equity portfolio diversification: how many stocks are enough? evidence from India 

      Raju, Ranjan; Agarwalla, Sobhesh Kumar (Indian Institute of Management Ahmedabad, 2021-02-02)
      How many stocks are required to reduce unsystematic risk significantly is an important question for investors. While there is a large body of research on the subject in the United States, there is little formal work on ...

    • Financial literacy among working young in urban India 

      Agarwalla, Sobhesh Kumar; Barua, Samir K.; Jacob, Joshy; Varma, Jayanth R. (2013-11-26)
      The paper reports investigation of a study on the influence of various socio-demographic factors on different dimensions of financial literacy among the working young in urban India. While the influence of several factors ...

    • Four factor model in Indian equities market 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Varma, Jayanth R. (2013-11-26)
      We compute the Fama-French and momentum factor returns for the Indian equity market or the 1993-2012 period using data from CMIE Prowess. We di er from the previous studies n several signi cant ways. First, we cover a ...

    • High frequency manipulation at futures Expiry: the case of cash settled Indian single stock futures 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Varma, Jayanth R. (Indian Institute of Management , Ahmedabad, 2014)
      Futures markets are known to be vulnerable to manipulation, and despite the presence of a variety of mechanisms to prevent such manipulation, instances of market manipulation have been found in some of the largest and most ...

    • The impact of psychological traits on judgments related to ethics 

      Agarwalla, Sobhesh Kumar; Desai, Naman; Tripathy, Arindam (Indian Institute of Management Ahmedabad, 2015)
      This paper examines how two contradictory psychological traits, self-deception (SD) and professional skepticism (PS), affect managers and auditors assessments of the ethicality of various earnings management choices. ...

    • Impact of the Introduction of Call Auction on price discovery: Evidence from the Indian Stock Market Using High-Frequency Data 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Pandey, Ajay (2010)
      Call markets are claimed to aggregate information and facilitate price discovery where continuous markets may fail. Its advantage, however, comes at the cost of imme- diacy. Possibly due to faulty design or due to \thick ...

    • Impact of the proposed GST on the consumer price index in India 

      Morris, Sebastian; Pandey, Ajay; Agarwalla, Sobhesh Kumar; Agarwalla, Astha (Indian Institute of Management Ahmedabad, 2018)
      Fears that the movement to GST would add to inflation have been unfounded. In this study we ex-ante estimate the impact the movement to GST would have on inflation and show that it would be very marginal at best. The ...

    • Lighting up lives through cooking gas and transforming society 

      Barua, Samir K.; Agarwalla, Sobhesh Kumar (Indian Institute of Management Ahmedabad, 2018)
      The study, reported in the form of a case, narrates the story of a major attempt at social transformation through a simple mechanism of providing cooking gas (LPG) to the marginalized in society. Targeting about 100 million ...

    • Mandatory IPO Grading: Does It Help Pricing E ciency? 

      Jacob, Joshy; Agarwalla, Sobhesh Kumar (2013-11-25)
      The paper examines the market impact of a unique IPO certi cation recently introduced in India mandatory grading of IPOs by a credit rating agency. The grading was expected to improve the IPO pricing e ciency by providing ...

    • Market overreaction to poor long-run performance? a case of repurchase firms in India 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Vasudevan, Ellapulli (Indian Institute of Management Ahmedabad, 2015)
      We find significant positive abnormal returns around the announcement of both tender and open market repurchases in India. This suggests that the equity markets in India regard repurchase announcements as positive information ...

    • Market timing ability of Indian firms in open market repurchases 

      Agarwalla, Sobhesh Kumar; Jacob, Joshy; Vasudevan, Ellapulli (Indian Institute of Management Ahmedabad, 2013)
      The paper examines the market timing ability of Indian firms engaged in open market repur- chases. The study is primarily motivated by the unique disclosure feature of repurchases in India, where the disclosures are far ...

    • Structuring the Dedicated Freight Corridor Project A Lost Opportunity 

      Agarwalla, Sobhesh Kumar; Raghuram, G. (2013-11-21)
      A new large railway project offers opportunity for structuring in a manner that best value can be delivered towards transportation. This is more so in the context of an existing large integrated railway system (Indian ...

    • Whether Cross-Listing, Stock-speci c and Market-wide Calendar Events impact Intraday Volatility Dynamics? Evidence from the Indian Stock Market using High-frequency Data 

      Agarwalla, Sobhesh Kumar; Pandey, Ajay (2013-11-25)
      Using high-frequency stock price data, we investigate the e ect of various stock- speci c and market-wide events on intraday volatility dynamics in the Indian market. Modeling intraday volatility dynamics using FFF ...