Abstract
The significant role played by beta in various aspects of financial decision-making has forced people from small investors to investment bankers to rethink on beta in the era of globalization with ever changing market conditions. Standing on the edge of a free capital mobile world with technological innovations happening in no time, it is imperative to understand the stability of beta in accordance to these changes and also it would augments an efficient investment decisions with additional information on the beta. This study examined the stability of beta for India from a developing country perspective with a series of possible competing definitions of market conditions and alternative model specification. The results strongly validate Fabozzi and Francis (1977) claim of stable beta for individual stocks in all market conditions.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
