000			01524nam a2200217 4500
999			_c51014 _d51014
003			OSt
005			20190128150122.0
008			190128b ||||| |||| 00| 0 eng d
100			_aRahman, Abdul _933053
245			_aIndex Revisions, Stock Liquidity and the Cost of Equity Capital
300			_a1072–1089 p.
520			_aThis study examines the stock liquidity and cost of equity capital (COEC) effects around the CNX Nifty index revisions during the period 1998–2011. To examine these effects, the inclusion (exclusion) firms are compared with their matching peers. The stock liquidity effect has been examined by using distinct liquidity measures, such as trading volume, turnover rate and illiquidity ratio. The COEC effect has been examined with the help of cost of equity, stock liquidity, firm size, leverage and inclusion (exclusion) dummies. It was found that the stocks included to the CNX NIFTY were less liquid than their matching peers were, whereas the stocks excluded were experiencing more liquidity than their matching peers. Further, the study finds an increase in the COEC for the included firms and a decrease in the COEC for the excluded firms.
653			_aCost of equity capital
653			_aindex revisions
653			_aliquidity
653			_atrading volume,
653			_ailliquidity ratio
700			_aRajib, Prabina _933054
773	0		_029349 _972597 _aBANIK, ARINDAM _dNEW DELHI SAGE PUBLISHING PVT. LTD. _o5559312 _tGLOBAL BUSINESS REVIEW _x0972-1509
942			_2ddc _cJA-ARTICLE