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Can portfolio returns exceed market return? An examination of the efficient market hypothesis for the Indian stock market

Journal of Economics Library

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Title Can portfolio returns exceed market return? An examination of the efficient market hypothesis for the Indian stock market
 
Creator CHAUDHURI, Tamal Datta
BHAMRAH, Gulshan Kaur
 
Subject Portfolio; Price/Earnings ratio; PEG ratio; Dividend Yield; Net Profit Margin; Excess Returns.
G11; G14; G23; G24.
 
Description Abctract. The paper explores the possibility of forming portfolio of stocks that can generate returns higher than the market over a time period. Various principles are used for portfolio formation in the year 2013, and it is examined whether such portfolios have been able to generate excess returns over the next five years. Data has been used for Indian companies which are listed in the National Stock Exchange and Bombay Stock Exchange. Further, our sample consist of companies that have in operation over this period, have earned profits each year, and have consistently paid dividends in each of the years. The period under consideration has seen upswings and downswings, and it is our interest to explore whether our portfolios have been able to generate excess returns. Our results provide interesting insight into portfolio formation and also structuring of mutual funds.Keywords. Portfolio, Price/earnings ratio, PEG ratio, Dividend yield, Net profit margin, Excess returns.JEL. G11, G14, G23, G24.
 
Publisher Journal of Economics Library
 
Contributor —
 
Date 2019-09-08
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEL/article/view/1909
10.1453/jel.v6i3.1909
 
Source Journal of Economics Library; Vol 6, No 3 (2019): September; 159-167
2149-2379
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEL/article/view/1909/1953
 
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http://creativecommons.org/licenses/by-nc/4.0