Pharmaceutical Industry in Bombay Stock Exchange

سال انتشار: 1389
نوع سند: مقاله کنفرانسی
زبان: انگلیسی
مشاهده: 1,469

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شناسه ملی سند علمی:

MIEAC01_823

تاریخ نمایه سازی: 10 دی 1389

چکیده مقاله:

Risk and return are two fundamentals, which affect the investment decisions of rational investors. The risk aversion tendency of an investor makes him choose the set of assets, which give him higher return at minimum risk. The present research makes an attempt to estimate the systematic risk and expected returns of a sample of Bombay Stock Exchange listed sixty stocks by examination the application of Capital Asset Pricing Model in 2008. The research methodology involves the use of regression for estimation of the alpha and beta value of the stocks and portfolios. Further‘t’ test and ‘z’ test are used to test the statistical reliability of the stocks and portfolios parameters. The study holds CAPM good in Indian stocks market in explaining the systematic risk of the pharma stocks and establishing the trade off between risk and return. It reports the linear and proportion relationship between portfolio risk and portfolio return in the line of CAPM postulation.

نویسندگان

Mohammad Tamimi

Corresponding author: Dr Mohammad Tamimi, Faculty Member of Islamic Azad Uni. Dezful Branch, Iran

Madhu j Vi

Prof. Mdhu Vij, Professor in Finance, Faculty of Management Studies, Delhi Uni., India, Delhi

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