The Accounting Information System, as a part of the overall Management Information System (MIS), is considered a rich source of significant predictors of risk. The accounting-based risk measures, which have been developed from accounting information, have been viewed as surrogates for the variability of return of a firm’s common equity shares, which operationally measure its market risk and which ultimately lead to the concept of ‘beta’ coefficient, the market-determined risk measure identified in the Capital Asset Pricing Model (CAPM). Therefore, an issue of paramount concern to the accounting and finance profession is: what is the relationship between the accounting information and the market risk of a security? This book contains the author’s research work spanning over five years during the most turbulent period in the 1990s in the Indian capital market considering one hundred and fifty Indian companies listed in the Mumbai (Bombay) Stock Exchange to seek the answer to this question.
ABOUT THE AUTHOR Arindam Gupta
Arindam Gupta (b. 1969), graduated with honours in Commerce from the University of Burdwan in 1989 and stood first in first class. He took his master’s degree in Commerce from the same university in 1991 and stood first in first class. He also qualified himself as a Cost & Works Accountants of India. He also holds a Post Graduate Diploma in Financial Management (PGDFM) from the Indira Gandhi National Open University for which he qualified in 1998. He was awarded Ph.D. degree in Arts (Commerce) by the University of Burdwan in 1998 for his thesis entitled ‘Accounting-based and Market-determined risk Measures: A Study in their Interrelation With Reference To Selected Indian Companies’. He joined Vidyasagar University in the year 1994 in its commerce Department to start a career in teaching. Later he also taught in Indian School of Mines as Assistant Professor and The University of Burdwan as Senior Lecturer in the Business Management Department of these institutions. Presently, he is a Reader and Head of the Department of Commerce with Farm Management in Vidyasagr University. He has presented papers in several national and international seminars and conferences. He has also published many articles in national and international journals and has authored a book entitled Capital Market: Theory and Institutions. His areas of teaching and research are Security Analysis and Portfolio Management, Financial Management, Strategic Management, Organization Theory, etc.
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