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2017 - 20182
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Author: Manpreet Kaur × End date: 2019 × Start date: 2017 × Type: Thesis × Thesis Type: Ph.D ×
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    ThesisItemOpen Access
    Combining financial statement analysis and technical analysis to enhance stock portfolio performance: A study of Indian stock market
    (Punjab Agricultural University, Ludhiana, 2018) Manpreet Kaur; Aggarwal, Navdeep
    The study was undertaken to examine the performance of combined financial statement analysis and technical analysis vis-à-vis standalone financial statement analysis and technical analysis among high book-to-market (value stocks) and low book-to-market (growth stocks). To fulfil the objectives, the research was carried out for each of the FY ranging from 2008-09 to FY 2012-13. For each of FY all the listed companies of National Stock Exchange (NSE) were arranged in descending order of book-to-market (B/M) ratio using the CMIE database Prowess. The companies were then sorted into five quintiles. Top quintile (that is, highest book-to-market ratio) was chosen for high book-to-market companies and bottom quintile (that is, lowest book-to-market ratio) was chosen for low book-to-market companies. The financial statement analysis among high book-to-market stocks was carried out using Piotroski (2000) framework and that among the low book-to-market (growth stocks) was carried out using Mohanram (2005) framework. Technical analysis among both types of stocks was carried out by applying Jegadeesh and Titman (1993) and Lee and Swaminathan (2000) methodology. Results show that financial statement analysis based strategy for both value and growth stocks outperforms the market for all holding periods of 3 months, 6 months and one year. However using technical analysis based strategy this outperformance hold good only for 3 months and 6 months formation and holding periods. The combined strategy outperforms standalone technical analysis and financial statement analysis based strategy for 3 months and 6 months holding periods. However for longer holding periods (one year) this outperformance disappears. But the degree of outperformance on combining the financial statement analysis and technical analysis was greater as compared to standalone financial statement analysis or technical analysis based strategies. It can be concluded from the results that it is beneficial for investors to form their investment strategy by combining financial statement analysis and technical analysis; if he plans to hold the portfolio for not more than 6 months.
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    ThesisItemOpen Access
    Status of population and assessment of environmental contaminants on egg parameters and breeding biology of House Crow (Corvus splendens) in Malwa region of Punjab
    (Punjab Agricultural University, Ludhiana, 2017) Manpreet Kaur; Khera, K.S.
    Birds are the common inhabitants of the ecosystem and are well known as indicator species of the ecosystem health. Among these birds, the Indian House Crow (Corvus splendens), is the most wide spread subspecies of the corvidae family in India as well as in the world. Present study was undertaken to study the dynamics of house crow population in some pockets of Malwa region of Punjab. The present study on the status of population of House Crow was carried out in the 3 districts of Malwa region of Punjab (Punjab Agricultural University (PAU), Ludhiana and in selected villages of Sangrur and Bathinda), while study on assessment of environmental contaminants on egg parameters and breeding biology was carried out only in the 2 districts of Malwa region of Punjab (PAU, Ludhiana and in selected villages of Sangrur). It was observed that population of House Crow was significantly low at the Sangrur and Bathinda villages as compared to PAU, Ludhiana. In present study, breeding season of House Crow was observed to be from April to September. 99 nests were recorded during two breeding seasons in PAU, Ludhiana and 9 nests were found in two villages of Sangrur. Quantitative analysis of the nests of house crow was also done. Majority of the nests of the House Crow located on 17 different tree species. In the present study two types of nests were observed i.e. Active nests and Non-active nests. In PAU, Ludhiana, out of total 99 nests, 61 nests found to be active and 38 nests were remain in-active on 16 different tree species in both breeding seasons. In villages of Sangrur, all nests were found inactive on the 3 tree species used. Average egg length, breadth, shape index, egg weight, albumen weight, yolk weight, shell weight, albumen percentage, yolk percentage, shell percentage, egg shell thickness, CaCO3, egg volume and specific gravity which indicate hatchability of eggs were determined. In present study high levels of chlorpyriphos and few heavy metals were detected in feather samples collected from villages of Sangrur. Overall it was observed that the population at PAU, Ludhiana was higher as compared to selected villages of Sangrur and Bathinda. Analysis of feathers indicated higher levels of chlorpyriphos and some heavy metals in the feathers collected from villages of Sangrur. As birds are the visible indicators of the health and quality of the ecosystem in which they live, therefore, fixing priorities and developing strategies for their conservation needs further studies for a healthy environment.