Sep '2023


The IUP Journal of Financial Risk Management

ISSN: 0972-916X

A 'peer reviewed' journal indexed on Cabell's Directory, and also distributed by EBSCO and Proquest Database

It is a quarterly journal that focuses on identifying Financial risk in Capital/Debt/Forex markets and their management models; Derivatives as Price Discovery Tools and Hedging devices; Hedging techniques; Asset-liability management; Organizational culture, Risk-bearing capacity and Leadership role in management of risk. The journal provides a platform for cutting-edge research in the field of financial risk management.

Privileged access to Online edition for Subscribers.

Focus Areas
  • Identifying Financial Risk
  • Risk Management Models
  • Accounting for Derivatives
  • Risk-Hedging Techniques
  • Asset Liability Management
CheckOut
Article   Price (₹) Buy
Stock Selection and Market Timing Performance of Mutual Fund Schemes by Market Cap in India: An Empirical Investigation
50
Liquidity, Solvency and Profitability of TCS: An Empirical Analysis
50
       
Contents : (Sep '23)

Stock Selection and Market Timing Performance of Mutual Fund Schemes by Market Cap in India: An Empirical Investigation
Pooja Bangada

The study examines the market performance in terms of stock selection and market timing skills of fund managers before, during and after the Covid-19 pandemic, with reference to selected small, mid and large cap mutual fund schemes. The study further investigates the presence of small firm effect in the Indian context by testing if small capitalization schemes of a fund house exhibit better performance than its large cap schemes. Performance evaluation has been conducted using Jensen's differential model, Treynor-Mazuy model and Henriksson-Merton model. A majority of the fund managers were successful in stock selection by identifying the underpriced securities during the pre-Covid and post-Covid periods. However, a majority of the schemes exhibited perverse market timing skills during the post-Covid period, while there was no significant evidence of market timing skills during the pre-Covid and Covid periods. The study provides valuable insights on fund performance, which can help investors to make informed decisions, fund managers to revisit their performance, and regulators to ensure a better policy framework.


© 2023 IUP. All Rights Reserved.

Article Price : ? 50

Liquidity, Solvency and Profitability of TCS: An Empirical Analysis
Ruby Mittal and N P Singh

This paper analyzes the financial position of Tata Consultancy Services Limited (TCS) in terms of liquidity, profitability and solvency for the period 2004-2021, using Motaal test and Altman Z-test. The data is also subjected to correlation and regression analyses. Based on the analysis, it is inferred that TCS is above the benchmark value. Motaal test results indicate that the liquidity position of TCS was best in 2020, and had been improving during the study period. As per Altman Z-score test, the company's financial performance was good during the study period, except in 2004. Hence, it is concluded that the financial position of TCS during the study period was more than satisfactory.


© 2023 IUP. All Rights Reserved.

Article Price : ? 50