The Equity Premium in India / Rajnish Mehra.
Material type:
TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w12434.Publication details: Cambridge, Mass. National Bureau of Economic Research 2006.Description: 1 online resource: illustrations (black and white)Subject(s): Online resources: Available additional physical forms:- Hardcopy version available to institutional subscribers
| Item type | Home library | Collection | Call number | Status | Date due | Barcode | Item holds | |
|---|---|---|---|---|---|---|---|---|
| Working Paper | Biblioteca Digital | Colección NBER | nber w12434 (Browse shelf(Opens below)) | Not For Loan |
August 2006.
In this article we examine the Equity Premium in the Indian context and review the related literature. The equity premium is the returned earned by a well-diversified stock portfolio in excess of that earned by a risk free security such as a Treasury Bill. Consistent with U.S. experience we find that the Indian equity premium has been quite high in the post 1991 period, averaging 9.7% above the corresponding risk free security. It is difficult to justify such a premium based on theoretical considerations.
The article is an entry prepared for the Oxford Companion to Economics in India edited by Kaushik Basu
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