Prachi Jain

Research Interests

Market microstructure, Primary markets, Climate finance

BioSketch

Educational Details

University of Delhi, India

2019

M.Com, Finance

Indian Institute of Management Indore, Indore, Madhya Pradesh, India

2023

Ph.D., Finance and Accounting

University of Delhi, India

2017

B.Com (Hons),

Professional Background

Assistant Professor

31 Jan 2024 - 07 Oct 2024

Institute of Management Technology, Delhi, India

Research

Projects

TOPIC	START DATE	FIELD	DESCRIPTION	FINANCIAL OUTLAY	FUNDING AGENCY	OTHER OFFICERS
Does the type of settlement matter? Evidence from Indian Derivatives Market	07 Jun 2021	Futures market	The study investigates whether the mode of settlement of futures contract- cash settlement or physical delivery has any significant role in determining the prominent constructs in the Indian financial market. The study employs a sample of 46 treatment stocks that were moved from cash settlement to a physical delivery mode of futures-settlement from April, 2019 expiry onwards following a mandate by Securities Exchange Board of India. High-frequency intra-day data is used to estimate multiple proxies gauging the spot market volatility, hedging efficiency and price-discovery efficiency of futures contracts. A difference in difference analysis reveals a significant decline in volatility accompanied with a significant increase in hedging ratio as well as price-discovery efficiency of futures contracts upon the adoption of physical mode of delivery. However, we find that the effects are likely to be short-lived until markets acclimatize to the intervention. The study weighs the costs and benefits associated with the alternate modes of settlement that need to be considered for the welfare of the market and concludes that shifting to physical mode of settlement benefits the markets by bringing down the volatility without any adverse impact on hedging efficiency of price-discovery process.	Grant of $7500	New York University, National Stock Exchange and New York University, India

Publications

Quantile dependencies and connectedness between stock and precious metals markets

2022

Debasish Maitra | ScienceDirect

Journal: Journal of Commodity Markets

Risk Implications of dependence between Oil and Commodities: A copula-based analysis

2023

Prachi Jain, Debasish Maitra | ScienceDirect

Journal: Global Finance Journal

Oil price and the automobile industry: Dynamic connectedness and portfolio implications with downside risk

2023

Prachi Jain, Debasish Maitra, Sang Hoon Kang | ScienceDirect

Journal: Energy Economics

Are shocks in the stock markets driven by commodity markets? Evidence from Russia-Ukraine war

2024

Debasish Maitra, Priti Biswas | ScienceDirect

Journal: Journal of Commodity Markets

Is there commodity connectedness across investment horizons? Evidence using news-based uncertainty indices

2023

Prachi Jain, Debasish Maitra | ScienceDirect

Journal: Economics Letters

Do options improve the information absorption? Evidence from the introduction of weekly index options

2021

Prachi Jain, Kiran Kumar | Wiley

Journal: Internation Review of Finance

Honors And Awards

Honors

Indian Institute of Management Indore, India

2024

Best Doctoral Thesis Award

UGC, India

2019

UGC JRF

Indraprastha College for Women, India

2017

Principal's Honor Roll

Teaching Engagements

Security Analysis and Investment ( BMN-683 )

Autumn