Study on Behavior of Stock Prices and Returns Have Supported the Randomness and Independence

The Role of Financial Intermediaries in Supporting an Efficient Capital Market for Economic Development

Authors

  • Shunil Tripathi CMJ University
  • Dr. Satyapal Yadav

Keywords:

behavior, stock prices, returns, randomness, independence, efficient capital market, economic development, new issue market, primary market, secondary market, trading, securities, resource allocation, financial intermediaries, stock exchanges, issue houses, underwriting agencies, merchant banks

Abstract

Anefficient capital market is a prerequisite of economic development. Broadly,capital market can be classified into new issue market (primary market) andsecondary market (stock market). The new issue market deals with new securities,which were not previously traded, and secondary market is mainly concerned withthe trading of securities previously issued. Resource allocation in the capitalmarket is facilitated by the effective support of financial intermediaries thatinclude various stock exchanges, issue houses, underwriting agencies andmerchant banks.

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Published

2011-10-01

How to Cite

[1]
“Study on Behavior of Stock Prices and Returns Have Supported the Randomness and Independence: The Role of Financial Intermediaries in Supporting an Efficient Capital Market for Economic Development”, JASRAE, vol. 2, no. 2, pp. 0–0, Oct. 2011, Accessed: Aug. 18, 2025. [Online]. Available: https://ignited.in/index.php/jasrae/article/view/4014

Issue

Vol. 2 No. 2 (2011): Journal of Advances and Scholarly Researches in Allied Education (JASRAE)

Section

Articles

How to Cite

[1]
“Study on Behavior of Stock Prices and Returns Have Supported the Randomness and Independence: The Role of Financial Intermediaries in Supporting an Efficient Capital Market for Economic Development”, JASRAE, vol. 2, no. 2, pp. 0–0, Oct. 2011, Accessed: Aug. 18, 2025. [Online]. Available: https://ignited.in/index.php/jasrae/article/view/4014