Implementation of VLSI Routing Technique for Real Time Circuits

Abstract

India being the largest democracy on Earth and the fastest growing economy is still in the mushrooming stage of Responsible investing. Past studies attribute this state to the lack of awareness on such investments among investors and to the uncertainty on Socially Responsible Investing (SRI) performance and the financial returns the investment could generate. As a first step towards clearing the apprehensions with SRI this study has been undertaken. The primary objective is to analyse the performance of Indian SRI stocks via the Sustainability indices of BSE. Past nine years (2010-2018) historical data of five indices from the Indian stock market is used. Three among them BSE 500, BSE SENSEX, NSE NIFTY are conventional indices and the other two BSE CARBONEX and BSE GREENEX are Sustainability indices. BSE 500 represents the market portfolio i.e., used as a benchmark for all other indices. While BSE Sensex and NSE Nifty represent the general stock portfolio, BSE Carbonex and BSE Greenex represent the Socially responsible investment portfolio. For the risk-free rate of return, yield of 364 days T-bills is used. The analysis has been carried out in three sections. First, the performance of SRI stocks against the General stocks with their average monthly return. Second, risk and return measures namely Sharpe, Treynor, Jensen’s alpha and Sortino have been employed to study risk associated return of the SRI stocks portfolio. Third, the performance of the SRI stocks during the 2016 Demonetisation period has been studied to ascertain the stability of the investment during an economic crisis. The findings made from the study indicate that the Socially responsible stocks perform similar to the general stocks and do not display any significant variation from the performance of general stocks. The associated risk measured as systematic risk (?) in the study also appears consistent across indices. Even during the crisis period both SRI and conventional stocks behave in the same way.