Information and Knowledge Management www.
iiste.
org
ISSN 2224-5758 (Paper) ISSN 2224-896X (Online)
Vol 1, No.
2, 2011
7 | P a g e
www.
iiste.
org
An Impact of ICT on the Growth of Capital
Market-Empirical Evidence from Indian Stock Exchange
Amalendu...
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Information and Knowledge Management www.
iiste.
org
ISSN 2224-5758 (Paper) ISSN 2224-896X (Online)
Vol 1, No.
2, 2011
7 | P a g e
www.
iiste.
org
An Impact of ICT on the Growth of Capital
Market-Empirical Evidence from Indian Stock Exchange
Amalendu Bhunia
Reader in Commerce
Fakir Chand College, Diamond Harbour
South 24-Parganas-743331
West Bengal, India
*E-mail: bhunia.
amalendu@gmail.
com
Abstract
This paper examines the impact of ICT on the growth of the Indian Stock Exchange using a modified
version of the Gompertz technology diffusion model introduced by Chow (1983) and therefore rearranges
the model such that ICT development becomes the independent variable while stock market growth
indicators are the dependent variables.
Capital markets have become excessively volatile since the adoption
of computer assisted trading strategies as the latter increase short-term price volatility and risks.
Fama and
French (1988) argued that information technology have made capital markets more
Less
