Credit risk – Return puzzle: Evidence from India
Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credi...
Ausführliche Beschreibung
Gespeichert in:
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Nedumparambil, Elizabeth [verfasserIn] |
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E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2020transfer abstract |
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| Schlagwörter: |
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| Umfang: |
12 |
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| Übergeordnetes Werk: |
Enthalten in: Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery - Yin, Zichu ELSEVIER, 2021, Amsterdam |
|---|---|
| Übergeordnetes Werk: |
volume:92 ; year:2020 ; pages:195-206 ; extent:12 |
| Links: |
|---|
| DOI / URN: |
10.1016/j.econmod.2019.12.021 |
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ELV051255219 |
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| 520 | |a Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. | ||
| 520 | |a Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. | ||
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10.1016/j.econmod.2019.12.021 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001227.pica (DE-627)ELV051255219 (ELSEVIER)S0264-9993(19)30552-8 DE-627 ger DE-627 rakwb eng 530 600 670 VZ 51.00 bkl Nedumparambil, Elizabeth verfasserin aut Credit risk – Return puzzle: Evidence from India 2020transfer abstract 12 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Stock returns Elsevier Credit risk Elsevier Credit risk-return puzzle Elsevier Insolvency and bankruptcy code Elsevier Bhandari, Anup Kumar oth Enthalten in Elsevier [u.a.] Yin, Zichu ELSEVIER Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery 2021 Amsterdam (DE-627)ELV006300197 volume:92 year:2020 pages:195-206 extent:12 https://doi.org/10.1016/j.econmod.2019.12.021 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U 51.00 Werkstoffkunde: Allgemeines VZ AR 92 2020 195-206 12 |
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10.1016/j.econmod.2019.12.021 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001227.pica (DE-627)ELV051255219 (ELSEVIER)S0264-9993(19)30552-8 DE-627 ger DE-627 rakwb eng 530 600 670 VZ 51.00 bkl Nedumparambil, Elizabeth verfasserin aut Credit risk – Return puzzle: Evidence from India 2020transfer abstract 12 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Stock returns Elsevier Credit risk Elsevier Credit risk-return puzzle Elsevier Insolvency and bankruptcy code Elsevier Bhandari, Anup Kumar oth Enthalten in Elsevier [u.a.] Yin, Zichu ELSEVIER Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery 2021 Amsterdam (DE-627)ELV006300197 volume:92 year:2020 pages:195-206 extent:12 https://doi.org/10.1016/j.econmod.2019.12.021 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U 51.00 Werkstoffkunde: Allgemeines VZ AR 92 2020 195-206 12 |
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10.1016/j.econmod.2019.12.021 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001227.pica (DE-627)ELV051255219 (ELSEVIER)S0264-9993(19)30552-8 DE-627 ger DE-627 rakwb eng 530 600 670 VZ 51.00 bkl Nedumparambil, Elizabeth verfasserin aut Credit risk – Return puzzle: Evidence from India 2020transfer abstract 12 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Stock returns Elsevier Credit risk Elsevier Credit risk-return puzzle Elsevier Insolvency and bankruptcy code Elsevier Bhandari, Anup Kumar oth Enthalten in Elsevier [u.a.] Yin, Zichu ELSEVIER Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery 2021 Amsterdam (DE-627)ELV006300197 volume:92 year:2020 pages:195-206 extent:12 https://doi.org/10.1016/j.econmod.2019.12.021 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U 51.00 Werkstoffkunde: Allgemeines VZ AR 92 2020 195-206 12 |
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10.1016/j.econmod.2019.12.021 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001227.pica (DE-627)ELV051255219 (ELSEVIER)S0264-9993(19)30552-8 DE-627 ger DE-627 rakwb eng 530 600 670 VZ 51.00 bkl Nedumparambil, Elizabeth verfasserin aut Credit risk – Return puzzle: Evidence from India 2020transfer abstract 12 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. Stock returns Elsevier Credit risk Elsevier Credit risk-return puzzle Elsevier Insolvency and bankruptcy code Elsevier Bhandari, Anup Kumar oth Enthalten in Elsevier [u.a.] Yin, Zichu ELSEVIER Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery 2021 Amsterdam (DE-627)ELV006300197 volume:92 year:2020 pages:195-206 extent:12 https://doi.org/10.1016/j.econmod.2019.12.021 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U 51.00 Werkstoffkunde: Allgemeines VZ AR 92 2020 195-206 12 |
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Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery |
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Credit risk – Return puzzle: Evidence from India |
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Credit risk – Return puzzle: Evidence from India |
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Nedumparambil, Elizabeth |
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Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery |
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Enzyme and Au nanoparticles encapsulated ZIF-8 for glucose responsive closed-loop drug delivery |
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10.1016/j.econmod.2019.12.021 |
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credit risk – return puzzle: evidence from india |
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Credit risk – Return puzzle: Evidence from India |
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Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. |
| abstractGer |
Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. |
| abstract_unstemmed |
Although asset pricing theories predict a positive relation between risk and returns, empirical findings on credit risk-return relationship are mixed. And, observed negative relation between the two in this regard is referred to as credit risk-return puzzle. Using credit rating as a measure of credit risk, we have investigated into the existence of this puzzle in India during July 2011 to March 2019. We have used information for the companies listed on the National Stock Exchange for this purpose. Our results validate the presence of this puzzle in the Indian stock market. Moreover, credit risk is observed to be a systematic risk, which has not been captured in the traditional asset pricing models. We have also observed partial evidence favoring both behavioural and rational pricing explanations—the two widely acknowledged explanations in the literature behind this puzzle. On our further query in this connection, we have not seen any significant change in the puzzle due to the recent enactment of the Insolvency and Bankruptcy Code. |
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Credit risk – Return puzzle: Evidence from India |
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https://doi.org/10.1016/j.econmod.2019.12.021 |
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Bhandari, Anup Kumar |
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