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eBook details

• Title: An Empirical Investigation of the Relationship Between American Portfolio Equity Flows and Indian Equity Returns (Report)
• Author : Indian Journal of Economics and Business
• Release Date : January 01, 2008
• Genre: Business & Personal Finance,Books,
• Pages : * pages
• Size : 297 KB

Description

Abstract This research dissects the dynamic nature of the relationship between U.S. portfolio equity flows and equity returns in India. A unique finding of this research is that the variance of the flow sequence is better explained by shocks to fundamentals than shocks to returns. These results provide evidence that U.S. institutional investors are making investment decisions based on fundamental determinants of value rather than responding to price signals or 'chasing returns'. This research anticipates that the strong relationship between equity flows and fundamentals should strengthen as U.S. investors continue to develop more sophisticated methods of assessing underlying value in the Indian market.

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