The insidious hyperreality in financial markets: An integrative review with evidence from the Indian financial market

Samriddhi Dhasmana and Sandeep Goel

International Review of Financial Analysis, 2023, vol. 90, issue C

Abstract: The commercialized corporate ownerships, which are being traded at mounting market values, convey an impression that they represent the respective companies and their growth. But unfortunately, these market figures in reality do not represent the true value. Based on the concept of hyperreality as given by Baudrillard, this article examines the ontological status of behaviour of financial markets to the information reported in financial reports and tests out the existence of hyperreality manifestation, particularly in Indian securities market with its uniqueness. It establishes that the market prices are unsubstantiated universally and don't have anything to do with the real value of their representative companies, and therefore need to be rationalized before investment decision-making.

Keywords: Financial markets; Indian financial markets; Hyperreality; Simulation; Financial bubble; Book value; Market value (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:90:y:2023:i:c:s1057521923004386

DOI: 10.1016/j.irfa.2023.102922

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