Investment Strategies of FIIs in the Indian Equity Market (Record no. 30469)

MARC details
000 -LEADER
fixed length control field 01809pab a2200205 454500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 140923b0 xxu||||| |||| 00| 0 eng d
040 ## - CATALOGING SOURCE
Transcribing agency Welingkar Institute of Management Development & Research, Mumbai
Original cataloging agency Welingkar Institute of Management Development & Research, Mumbai
041 ## - LANGUAGE CODE
Language code of text/sound track or separate title ENG
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number
Item number Seh
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Sehgal Sanjay
245 ## - TITLE STATEMENT
Title Investment Strategies of FIIs in the Indian Equity Market
250 ## - EDITION STATEMENT
Edition statement 1
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc.
Name of publisher, distributor, etc. Jan - Mar 2009
Date of publication, distribution, etc. 0
300 ## - PHYSICAL DESCRIPTION
Extent 11-18 Pp.
490 ## - SERIES STATEMENT
Volume/sequential designation 13
520 ## - SUMMARY, ETC.
Summary, etc. In this paper, we empirically evaluate if Foreign Institutional Investors (FIIs) adopt positive feedback and herding strategies in the Indian environment. We find that FIIs exhibit return chasing behaviour when we use monthly data. However, they do not seem to be working on the positive feedback strategy when we use daily files. This may be owing to the fact that they wait for the market information to crystallize and do not react to it in an instantaneous manner. We also observe that the FIIs display strong herding behaviour based on quarterly shareholding pattern. The herding behaviour seems to be stronger at the aggregate level than at the individual stock level. This may be explained by the fact that FIIs are more cognizant of corporate fundamentals at the individual stock level. Further, the market cycle behaviour may vary from such cycles for individual stocks. Our findings have strong implications for domestic financial institutions, portfolio managers, wealth managers and other investors as well as market regulators who wish to have better understanding of FII.s behaviour as the later are the dominant investors in the Indian equity market.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element FII, Investments
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="http://192.168.6.13/libsuite/mm_files/Articles/AR10646.pdf">http://192.168.6.13/libsuite/mm_files/Articles/AR10646.pdf</a>
906 ## - LOCAL DATA ELEMENT F, LDF (RLIN)
a 31931
Holdings
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        Main Library Main Library 21/05/2009 0.00   Seh AR10646 23/09/2014 0.00 23/09/2014 Articles

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