Analysis of Stock Price Behaviour around Bonus Issue: A Test of Semi-Strong Efficiency of Indian Capital Market

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Authors

  • Charles Lasrado
     St. Joseph's Evening College, Bangalore ,IN
  • T. V. Narasimha Rao
     Manipal University ,IN

Keywords:

Bonus Issues, AAR, CAAR.
Stocks and Shares

Abstract

Stock price behaviour around bonus issue have been examined for 134 bonus issues of NSE listed companies in India. Two null hypotheses have been tested for similarity between mean and distribution pattern of bonuses by employing "t” and Kolmogorov-Smirnov tests. The results lead to rejection of both hypotheses. As such it is concluded that Indian stock market is semi strong efficient.

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Published

2009-01-20

How to Cite

Lasrado, C., & Narasimha Rao, T. V. (2009). Analysis of Stock Price Behaviour around Bonus Issue: A Test of Semi-Strong Efficiency of Indian Capital Market. DHARANA - Bhavan’s International Journal of Business, 3(1), 18–31. Retrieved from http://www.informaticsjournals.com/index.php/dbijb/article/view/17996

Issue

Volume 3, Issue 1, 2009

Section

Research Articles

 

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