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Patel, Bhoomi
- A Study on Black and Scholes Option Pricing Model for Selected Companies
Authors
1 Uka Tarsadia University, IN
Source
Global Journal of Research in Management, Vol 8, No 1 (2018), Pagination: 28-44Abstract
The Study on “Black and Scholes option pricing model” is a study that helps to classify the theoretical price of Call option and Put option of the contract. The value derived from the Black and Scholes model guides investor about how much premium the investor has to pay for entering into Call option and Put option Contract. In order to fulfil this study researcher have collected data of top 10 companies based on the market capitalization. Various data’s such Stock price, Strike price, Volatility of stock, Risk free interest rate and Time to expiry. Paired Sample T-test, Greeks elements calculations were done for the analysis of data Black and Scholes model,
From the calculation of Black and Scholes model, the value of the premium was derived for 10 different stocks’ options and at two different time period. By calculating the value of Call and Put option it was compared with Market value of Call and Put option through Paired Sample T-test and found that in most of case the model was found to be efficient as the calculated value of call and put option was equal to the market value of call and put option. In order to measure the Sensitivity of Call and Put option’s Greek Elements calculation was used and found that Greek elements are important factors that clearly states that Delta, Gamma, Theta, Vega and Rho are important tool that -measures the sensitivity of call option and put option prices.
Keywords
Black and Scholes Option Pricing Model, Call Option, Put Option, Premium, Volatility, Paired Sample T-Test, Greeks Elements.References
- Chakrabarti, B., & Santra, A. (2017). Comparison of Black Scholes and Heston Models for Pricing Index Options.
- Cui, Y., & Yu, B. (2012). The Simulation of European Call Options’ Sensitivity Based on Black-Scholes Option Formula. Journal of Mathematical Finance, 2(03), 264.
- Dr. Benedict valentine Arulanandam, Koh wei sin, Muchemi andrew Muita. Relevance of Black-Scholes model on Malaysian KLCI options: an empirical study.
- Fortune, P. (1996). Anomalies in option pricing: The Black-Scholes model revisited. New England Economic Review, 17-41.
- Hull, J., & White, A. (2017). Optimal delta hedging for options. Journal of Banking & Finance.
- Jose, J., & Kanchan, D. A study on parameters of option pricing: The Greeks.
- Rajanikanth, C., & Reddy, E. L. Analysis of Price Using Black Scholes and Greek Letters in Derivative European Option Market.
- Sharma, M. and Dr. Kapil Arora (2015). A Study of Relevance of Black-Scholes Model in Indian Stock Option Market (Research Scholar and Associate professor, Institute of Management, J.K. Lakshmipat University, Jaipur).
- Zhang, J. (2011). Organization & Analysis of Stock Option Market Data (Doctoral dissertation, Worcester Polytechnic Institute).
- https://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuoteFO.jsp?underlying=RELINFRA&instrument=FUTSTK&type=-&strike=-&expiry=28DEC2017
- https://www.nseindia.com/products/content/derivatives/equities/historical_fo.htm
- http://www.option-price.com/index.php
- http://www.moneycontrol.com/stocks/marketinfo/marketcap/bse/index.html
- https://www.investopedia.com/terms/g/greeks.asp
- https://www.youtube.com/watch?v=aAQFgf8XKys&t=26s
- Impact of Demographic Factors on Investment Preference for Selected Investment Avenues
Authors
1 Lecturer, MBA department of Uka Tarsadia University
2 Assistant Professor, Department of College, Bhavnagar, IN
Source
Global Journal of Research in Management, Vol 9, No 2 (2019), Pagination: 60-73Abstract
The primary aim of this study is to analyse how funding choice gets stricken by the demographics and perceptions of the investor. Investor's behavior is influenced by many factors on the time of investment selection making. Demographic profile and perceptions play an essential function to pick a particular choice of funding. This paper facilitates to beautify the expertise on different investment avenues like financial institution deposits, life coverage policies, mutual funds and equity which in turn can be highly useful to the economic advisors as it will assist them endorse their customers regarding those avenues with appreciate to their demographic profiles. The observe also highlights the evidences that the funding desire depends on and is tormented by the demographic The study also highlights the evidences that the investment choice depends on and is affected by the demographic variables and perceptions. Reliability check is also done for checking internal consistency for selected variables. For proving the objectives Friedman test has been performed for knowing preference of investor‟s for varied investment avenues which shows that highly preferred avenues are bank deposit, insurance, postal saving. Equity shares, gold, national service certificate & PPF whereas least preferred avenues are real estate, government schemes, debenture/bond and chit funds. A logistic regression result of this study proves that investors‟ age and marital status are significantly influencing the selection of investment avenues. Wealth Management professionals emphasizes that customer behavior and psychology play a vital role in successfully building and sustaining a wealth management relationship.Keywords
Demographic Factor, Investment Preference, Investment Avenue, Investors Behaviour.- A study on the impact of CSR on financial performance of selected companies
Authors
1 Clerk, The Surat District Co-operative Bank LTD., Gujarat, IN
Source
Global Journal of Research in Management, Vol 11, No 1 (2021), Pagination: 76-91Abstract
This study is about to know the impact of CSR on financial performance of the selected companies. The purpose of the study was to determine the effect of corporate social responsibility on the financial performance of the selected company with the help of PAT, ROA, ROE, ROC & EPS. For the analysis we used descriptive research design and collected data from annual report of companies from 2016 to 2019. The simple regression model used for analyzing the impact in which CSR taken as an independent variable and PAT, ROA, ROE, EOC & EPS as dependent variable. From the regression analysis it is found that there is an impact of CSR contribution on Profit before Tax (PBT) in Hindustan zinc. Return on equity (ROE) in Bharat Petroleum cor. And Ambuja cement, return on capital employed (ROC) in Mahindra and Mahindra and return on earning per share (EPS) in Ambuja cement. There is no impact found in Tata Chemical, Infosys Ltd, Tata Motors, ITC, and Indian Oil Corporation.Keywords
Corporate Social Responsibility (CSR), Profit after Tax (PAT), return on Assets (ROA), Return on Equity (ROE), Return on Capital Employed (ROC) & Earning per Share (EPS)References
- Mrs. Abilasha. N, Prof.MadhuTyagi (2019) “Impact of CSR on Financial Performance of Top 10 Performing CSR Companies in India”., IOSR Journal of Economics and Finance (IOSR-JEF). Volume 10, Issue 2 (Mar. – Apr.2019), Page No. 49-55.
- Dr. Yagna P Vyas (2019) “Impact of corporate social responsibility on financial performance: A study of listed petroleum industries”., International Journal of Commerce and Management Research. Volume 5, Issue 3., 2019, Page No. 72-75.
- Khartic Rao Manokaran, Suresh Ramakrishnan, Sanil S. Hishan and KhairiahSoehod (2018) “The impact of corporate social responsibility on financial performance: Evidence from Insurance firms”, www.GrowingScience.com/msl.
- Samira Islam Resmi, Noor Nahar Begum, Md. Masudul Hassan (2018) “Impact of CSR on Firm‟s Financial Performance: A Study on Some Selected Agribusiness Industries of Bangladesh”., American Journal of Economics, Finance and Management. Volume 4, Issue 3., 2018, Page No. 74-85.
- ShyamalGarai (2017) “Impact of corporate social responsibility on firm‟s financial performance with a special reference of RIL”., International Journal of Applied Research 2017; 3(1): Page No. 38-41.
- ArpitBafna (2017) “A Study on the Impact of CSR on Financial Performance of Companies in India”., International Journal of Engineering Technology Science and Research. Volume 4, Issue 12., 2017.
- Anjali P, Lakshmi Yermal (2017) “The Impact of CSR Spending on the Financial Performance of Indian Banks”., www.Researchgate.com.
- A H M Yeaseen Chowdhury (2016) “Effect of CSR Activities on Financial Performance: A Study on Banking Sector of Bangladesh”., www.Researchgate.com.
- Dr. Abdul GhafoorAwan (2015) “Impact of CSR on Firms‟ Financial Performance: A Case Study of Ghee and Fertilizer Industry in Southern Punjab-Pakistan”., European Journal of Business and Management. Vol.7, Page No..7, 2015 Links:
- http://finance.bih.nic.in/Documents/CSR-Policy.pdf
- https://thecsrjournal.in/csr-top-10-responsible-business-rankings-2018/
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- https://www.mahindra.com/resources/careers/pdf/m-m-annual-report-2016-17.pdf
- https://www.infosys.com/investors/reports-filings/annual-report/annual/Documents/infosys-ar-19.pdf
- https://www.infosys.com/investors/reports-filings/annual-report/annual/Documents/infosys-AR-18.pdf
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- https://www.tatapower.com/pdf/investor-relations/100Annual-Report-2018-19.pdf
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- https://www.bharatpetroleum.com/pdf/OurFinancial/69646-BPCL-Annual-Report2018-191-ec00d8.pdf
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- https://www.hzlindia.com/wp-content/uploads/HZL_Annual-Report-2018-19-2.pdf
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