Price manipulation, front running and bulk trades: Evidence from India

Chakrapani Chaturvedula, Nupur Pavan Bang, Nikhil Rastogi and Satish Kumar

Emerging Markets Review, 2015, vol. 23, issue C, 26-45

Abstract: We analyze the stock price effects of bulk trade in India over the period 2004–2012. Using an event study model we note significant impact of bulk trades on the share prices with cumulative returns being very high around the trades for both BSE and NSE. Buy trade has significant positive cumulative abnormal returns, indicating that buy trades on average increases firm value. Next, we regress cumulative average abnormal returns of different windows on different independent variables. The effect of all the variables considered is found to be higher in the case of buy trades than that of the sell trades.

Keywords: Bulk deals; Front-running; Average abnormal returns; Cumulative average abnormal returns (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1566014115000138
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:23:y:2015:i:c:p:26-45

DOI: 10.1016/j.ememar.2015.04.001

Access Statistics for this article

Emerging Markets Review is currently edited by Jonathan A. Batten

More articles in Emerging Markets Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().