 | XIMB Fellow Programme in Management (Doctoral Level) |
| FPM Scholars [none] | Asset Markets Guide: Shridhar Kumar Dash About Asset Markets This area of research belongs to the interface between economics and finance. Many theoretical constructs exist on how prices of various assets are determined. According to the market efficiency theory, the prices of assets incorporate all the available information related to the assets in question. However, history has demonstrated that prices may reflect the intrinsic value of the asset in the long run, but in the short run the prices can be determined by other factors, such as the herd mentality of the market participants. The process of price discovery depends on the design of markets and the expectation of market participants. Market regulators play a pivotal role in making sure that markets do not fail and all the participants get a level playing field. There are many research issues related to this. Some indicative examples are: interlinkages of asset markets; operational efficiency of markets; operation of markets and the role of regulation; pricing of IPOs under different market conditions; and the role of capital markets in corporate governance. Resources Books Shiller, R. J. (2003). The new financial order: Risk in 21st century. Princeton University Press. Shiller, R. J. (1998). Macro markets: Creating institutions for managing society's largest economic risk (Clarendon lectures in economics). Oxford University Press. Shiller, R. J. (1989). Market volatility. MIT Press Bailey, R. E. (2005). Economics of financial markets. Cambridge University Press. Journals American Economic Review Journals of Finance Journal of Financial Economics Journal of International Money and Finance Journal of Political Economy Quarterly Journal of Economics Review of Economic Studies Review of Financial Studies Expected Profile Candidates should have Master's level education in economics, statistics, mathematics, management, or technology. Candidates with work experience would be preferred. |
FPM Cell Xavier Institute of Management Xavier Square, Bhubaneswar 751013, INDIA email: dean@ximb.ac.in |