000			01437nab a2200217 4500
008			170120b xxu||||| |||| 00| 0 eng d
100			_aMalhotra, Nidhi
245			_aAre Premium Indicative of Future Returns?: Evidence From Exchange Traded Funds In India
260			_a _b _c
300			_a1-12 p.
520			_aThe paper investigates whether Exchange Traded Funds (ETFs) trade away from their Net Asset Value (NAV), the relationship between traded volume, intraday volatility and whether the pricing deviation impacts future returns. It is observed that closing price deviates from NAV and resulting pricing inefficiency persists for three days on an average. Further, significant positive relationship is observed between return and contemporaneous premium and significant negative relationship with lagged premium, indicating a violation of efficient market hypothesis. Also, significant positive relationship is observed between volume and intraday volatility of ETFs and not index and insignificant negative relationship with lagged absolute premium.
650			_aExchange traded funds
650			_aNet asset value
650			_aPricing efficiency
650			_aPremium
650			_aIntraday volatility
700			_aPurohit, Harsh
700			_aTandon, Deepak
773	0		_039768 _dNew Delhi Foundation for Organisational Research & Education _oS85639 _tAbhigyan, 34 (3) Oct-Dec 2016 _x0970-2385
942			_2ddc _c8
999			_c91657 _d91657