Monetary Policy Announcement and Stock Returns - Evidence From Long-Term Repo Operations in India

Radeef Chundakkadan and Subash Sasidharan

Asian Economics Letters, 2022, vol. 3, issue 2, 1-6

Abstract: This paper investigates the impact of unconventional monetary policy on stock returns using the Reserve Bank of India’s long-term repo operations (LTROs). We provide evidence that firms listed on the Bombay Stock Exchange register higher returns on the days of LTRO announcements. We also find the stock returns of bank-dependent and financially constrained firms to be relatively higher on the days of announcements.

Keywords: covid-19; monetary policy; stock returns (search for similar items in EconPapers)
JEL-codes: E5 G24 I10 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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