The causal impact of algorithmic trading on market quality has been difficult to establish due to endogeneity bias. We address this problem by using the introduction of co-location, an exogenous event after which algorithmic ...

In 2003, trading of commodity futures shifted from single commodity, regional exchanges to national exchanges that trade multiple commodities. This paper examines price discovery and hedging effectiveness of commodity ...

This paper presents two approaches that use publicly available data to estimate the loss to investors from mis-selling of insurance products. The first approach uses the number of lapsed policies from the annual reports ...

The paper asks what drives insurance coverage in low income households by analysing repurchase patterns of micro-insurance policies. We use data on customers of a financial services provider from three states in India ...

Option markets have significant variation in liquidity across different option series. Illiquidity reduces the informativeness of the price. Price information for illiquid options is more noisy, and thus the implied ...

Recent events in India have brought a fresh focus upon the problem of regulation in the eld of micro- nance. This paper delineates the three distinct aspects where government needs to play a role. The rst is to protect ...

In India, we have paid more attention to the restructuring and winding up processes for companies. In contrast, the legal framework for insolvency in India is rooted in century old laws. In this paper, we motivate the need ...

This paper examines the existing implementation of the National Pension Scheme against the goals with which it was created. It finds that there are certain critical areas in which the NPS has deviated. These include ...

Stock futures offer leveraged positions and are expected to attract informed traders. However, many researchers have found that the information share of the stock futures is surprisingly small; the equity spot market ...