Elango Rengasamy - Academia.edu (original) (raw)

Uploads

Papers by Elango Rengasamy

Bookmarks Related papers MentionsView impact

This study examines whether investors punish moral lapses of the company management that violated... more This study examines whether investors punish moral lapses of the company management that violated various established code of conduct and regulations. I further examine whether the moral lapses of the corporate leaders have had any impact on the share price behavior and consequently the returns from the market. Testing for randomness and normality of share price behavior in response to the event announcements are the focal points of the study. The sample comprises fifteen companies. Two non-parametric tests, Kolmogorov Smirnov Test and Runs Test for Randomness and one parametric test, Auto-correlation test have been applied to analyze the data. The analytical results of Kolmogorov–Smirnov test indicate that except for two companies, the returns are normally distributed. The implication of this outcome is that the shareholders do not immediately offload their holdings even after coming to know of the moral lapses of corporate executives. The Runs test for Randomness accepted the null...

Bookmarks Related papers MentionsView impact

Business Review, 2008

Page 1. Electronic copy available at: http://ssrn.com/abstract=1103627 1 Monday Effect and Stock ... more Page 1. Electronic copy available at: http://ssrn.com/abstract=1103627 1 Monday Effect and Stock Return Seasonality: Further Empirical Evidence Dr. Rengasamy Elango* Nabila Al Macki ** ABSTRACT This study investigates ...

Bookmarks Related papers MentionsView impact

Tij S Research Journal of Economics Business Studies Rjebs, Dec 4, 2012

Bookmarks Related papers MentionsView impact

SSRN Electronic Journal, 2000

... These five indices, S&P CNX Nifty, CNX Nifty Junior, CNX Midcap, CNXIT, and Bank Nift... more ... These five indices, S&P CNX Nifty, CNX Nifty Junior, CNX Midcap, CNXIT, and Bank Nifty form part of both the large and small indices categories of the National Stock Exchange convincing us that the dataset used fairly represent the Indian market. ...

Bookmarks Related papers MentionsView impact

SSRN Electronic Journal, 2000

ABSTRACT The present study examines the association, if any, between the market beta (β) and the ... more ABSTRACT The present study examines the association, if any, between the market beta (β) and the risk-return pattern of selected companies in one of the Gulf Markets, the Muscat Securities Market. A sample of thirty companies was drawn applying suitable sampling methods. Market Beta (β) was computed using the fx function in MSExcel which is the slope of the linear regression line of known y’s, the returns of sample companies and known x’s, the index returns of the stock exchange included in the sample. Based on the results, these companies were bifurcated into high-risk and low-risk categories applying the standard CAPM (Capital Asset Pricing Model) approach. Our results provide weak evidence of relationship between risk and return indicating that high-risk is not always associated with high-returns and low-risk with low-returns although some exemptions have been noticed. The result is not surprising given the fact that most of the Gulf markets are not efficient in processing information. Yet another analysis provided evidence of significant changes in the risk category of companies when beta was computed on mean monthly return basis instead of daily returns. Our results offer valuable insights and suggestions to the investors, analysts and fund managers for making rational investment decisions.

Bookmarks Related papers MentionsView impact