Suchergebnisse

Sudhanshu Ranjan, Justice, Judocracy and Democracy in India: Boundaries and Breaches. New Delhi, London and New York: Routledge, Taylor & Francis Group, 2016, 28 + 377 pp., ₹895.

In 2010, India had approximately 234 million people in the age group 15-24 years. This number is expected to rise by more than 10 per cent in 2020. It roughly reflects the potential demand for higher education. Given the pace of this expansion in population, there is currently a dearth of higher educational institutions in India.State funding to overcome this requirement has not been a successful model. Private higher educational institutions have attempted to fill this gap. However, in many of the federal states private investment in higher education face hurdles. There are also a few federal states where there is a proliferation of private higher educational institutions.Lack of effective guidelines, and inefficient regulatory and accreditation practices resulted in poor quality of majority of these institutions.The paper examines the higher education scenario in India and attempts to point out why very few serious investors invest in higher educational sector. Several factors are responsible for this. Primary among these factors is the legal and legislative hurdles in several federal states. It is also seen that the bad precedent set by the existing institutions also dissuade serious investments.These factors have led to specific problems which face any serious investor in this sector in India. The paper identifies these problems and suggests that a possible change in perception towards higher education would be most desired in the current milieu. Certain contours of these change in perception are identified.Â

This article investigates the spot market's short-term price reaction on derivatives listing and delisting in India. We comprehensively examine the derivatives listing and delisting with extended time-series data from 2001-2020. We employ event study methodology and find that stocks show positive price reactions on the inclusion, whereas, on the exclusion, stocks show adverse price reactions. In addition, we validate our findings by considering the announcement date and actual date as our event date. We also examine the cross-sectional drivers of cumulative abnormal returns. We find that the underlying liquidity and volatility are critical drivers of cumulative abnormal returns. We produce evidence that derivatives listing (delisting) around the event window significantly increases (decreases) the prices of its underlying. The study attempt to contribute to option listing literature by analyzing the firm-specific cross-sectional drivers of cumulative abnormal returns. JEL Codes: G11, G12, G14