Long - Run and Short-Run Co-Integration between FIIs and Nifty Indices: An ARDL Approach-Reference-Cited by-同舟云学术

Long - Run and Short-Run Co-Integration between FIIs and Nifty Indices: An ARDL Approach

Published:2023-06-07 Issue: Volume: Page:141-145
ISSN:2321-5763
Container-title:Asian Journal of Management
language:en
Short-container-title:AJM

Author:

Patel Suraj¹,Manglani Amit²,Rani Yadav Disha¹

Affiliation:

1. Research Scholar, Department of Commerce, Guru Ghasidas Vishwavidyalaya, Bilaspur (C.G.) 495009.

2. Associate Professor, Department of Commerce, Guru Ghasidas Vishwavidyalaya, Bilaspur (C.G.) 495009.

Abstract

The study examines the long run and short run co-integration between Foreign Institutional Investments (FII) and Nifty indices in India using 22 years monthly data from Jan. 2000 to Dec. 2022 for the study. The study is of secondary nature that has been collected from secondary source published in official websites. For examine the co-integration between variables we have applied ARDL bound test approach. The study confirmed that there is positive co-integration in short run but negative co-integration in long run that means a change in nifty by 1 percent accelerates positive change in FII investment by 19.0872 Cr in short run and declining the nifty index affect FIIs investment negatively in long run. The result of bound test depicted that F-statistics (57.58212) is coming more that lower bound (3.62) and upper bound (4.16) which show significant long run co-integration. By looking the result we suggest the investor should go for momentum trading in short run and go for value trading in long run.

Publisher

A and V Publications

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