Four MBA students participated in Rendezvous 2015 @ Mumbai

3rd Faculty Research SeminarByMr. Sanjay Joshi on 29th November, 2014

3^rdFaculty Research SeminarByMr. Sanjay Joshi on 29^th November, 2014

3^rd Faculty Research Seminar held on 29^th November, 2014 from 4:40 p.m. to 5:20 p.m. in activity room (FYMBA – A Class). All faculty members were present in the seminar. Mr. Sanjay Joshi, Faculty member of the departmenthas presented his research work on “Integration of Selected World Stock Market: Evidence from Co-integration analysis”. Major points discussed in the seminar are as follows:

-      The importance of globalization and liberalization in international stock market where how a domestic investor can gain potential benefits from international portfolio diversification.

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     The paper examines portfolio diversification opportunity for developed and developing countries like Brazil, Russia, India, China, US, UK and Japan.

-          Monthly closing prices were employed from 1^st January, 2008 to 31^st June, 2014 and sourced from yahoo finance website.

-          Stock market linkages were examined through Johansen Co-integration test and further tested for VECM when 2 Co-integrating equation found from Trace and Max-Eigen statistics.

-          Conclusion reported as the study indicates a long term relationship among developed and developing countries’ stock markets exists. So the presence of an equilibrium relationship does limit the potential benefits from portfolio diversification of international investors aiming to share their investment among India and other stock markets under study.

After presentation, faculty members have asked their queries and gave fruitful suggestions regarding sample periods and methodology and presentedoutput.