45 SHODH, SAMIKSHA AUR MULYANKAN

International Indexed & Referred Research Journal, October,2012. ISSN 0974-2832, RNI- RAJBIL 2009/29954; VoL. IV * ISSUE- 45
Average Cross-section models:
Table 1: Descriptive Statistics of The Variables
Variables Mean Standard Minimum Maximum
Deviation
Average Return(Ri) 3.70960367 1.65778345 0.12717391 9.91110294
Beta 1.044255237 0.338314715 0.243644525 2.258194944
Both Scholes and Williams (1977) and Dimson (1979)
reported that beta is biased upward for frequently traded
securities and downward for thin trading. Different
types of adjustment process are used for beta estima-
tion. Among them, Scholes and Williams (1977) and
Dimson (1979) are widely used.
4. Empirical Analysis
This section covers the results of different statisti-
cal analyses includes regression analysis. The sum-
mary statistics presents mainly the mean and
standard deviation of all the variables over the whole
sample of 262 companies for period of January1999 to
June 2010. For this study, the average share return of
sample return varies from 0.12% to 9.91% at a average
return of 3.70% with a standard deviation of 1.65% so
there is a huge deviation in the return across the differ-
ent companies. However in case of Beta sample return
varies from 0.243% to 2.2581% at a average return of
1.044% with a standard deviation of .338% so there is
a huge deviation also in case of Beta across the differ-
ent companies The average beta of more than one
indicates that the individual securities return depends
perfectly on market movements and the investors holds
a diversified portfolio.
46 kks/k leh{kk vkS j ewY;kadu
International Indexed & Referred Research Journal, October,2012. ISSN 0974-2832, RNI- RAJBIL 2009/29954; VoL. IV * ISSUE- 45
1 Amanulla, S., and Kamaiah, B., "Asset Price Behavior in Indian Stock Market: Is the 'CAPM' still
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6 444-465.
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Markets, M.C. Jensen ed., Praeger Publications, New York, 1972.
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9 Stock Markets," 1999, http://www.cbs.curtin.edu.au/ef/wp/9906.htm
10 Bryant, P. S., and Eleswarapu, V. R., "Cross-sectional Determinants of New Zealand Share Market
11 Returns," Accounting and Finance, Vol. 37, 1997, 181-205.
12 Chan, L. K. C., and Lakonishok, J., "Are Reports of Beta Death Premature?", Journal of Portfolio
13 Management, Vol. 19, 1993, 51-62.
14 Cheung, Y., Wong, K., and Ho, Y., "The Pricing of Risky Assets in two Emerging Asian Markets-Korea and Taiwan," Applied Financial
Economics, Vol. 3, 1993, 315-324.
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Working paper, the Hong Kong Polytechnic University, 1997.
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17 Emerging Markets," Working paper, International Finance Corporation, 1996.
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21 Dimson, E., "Risk Measurement When Shares are Subject to Infrequent Trading," Journal of Financial
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23 Fama, E., and Macbeth, J., "Risk, Return and Equilibrium: Empirical Tests," Journal of Political Economy, Vol. 81, 1973, 607-636.
24 Fama, E. F.,and French, K. R., "Cross-section of Expected Stock Returns," Journal of Finance, Vol. 47,
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26 Green, C. J., "Asset Demands and the Asset Prices in the UK: Is There a Risk Premium," Manchester
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28 Gupta, O. P., and Sehgal, S., "An Empirical Testing of Capital Asset Pricing Models in India," Finance
29 India, Vol. 7, 1993, 863-874.
30 Guy, J. R. F., "The Behavior of Equity Securities on the German Stock Exchange," Journal of Banking and Finance, Vol.1,1977,71-93.
31 Hawawini, G., "Market Efficiency and Equity Pricing-International Evidence and Implications for Global
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P. A., "The Pricing of Risky Assets on the Belgian Stock Market," Journal of Banking and Finance, Vol. 6, 1982, 161-178.
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157-173.
R E F E R E N C E
See Table 1
5. Conclusions
After analyzing the regression result of Expected
return & Beta in Bombay Stock Exchange , Where
expected return has been taken as a dependent variable
and Beta has been taken as a independent variable. The
P coefficient of Beta shows that Beta is significant
determinant of expected return . It means that stock
which are having the higher market risk are having
higher expected return . On the basis of these results
It is proved that CAPM is partially valid in case of
Indian Context. Thus the CAPM theories suggest a
positive linear relationship between expected returns
and 'true' betas. However result clap one limitation that
result have not shown relationship between Expected
return and Unsystematic risk which are proposed to
Investigate in future research.
47 SHODH, SAMIKSHA AUR MULYANKAN
International Indexed & Referred Research Journal, October,2012. ISSN 0974-2832, RNI- RAJBIL 2009/29954; VoL. IV * ISSUE- 45
Research Paper - Mathematics
October ,2012
Introduction
The thermal instability of a liquid layer with
maintained temperature gradient by heating the under-
side plays an important role in geophysics, interior of
the earth, oceanography and atmospheric physics. The
study of effect of rotation and magnetic on thermal
instability in Walters B' elastic viscous fluid in porous
medium has been discussed. It is found that rotation
has only stabilizing effect. The medium permeability
and magnetic field have both stabilizing and destabi-
lizing effects depending upon on certain conditions.
Formulation Of The Problem
Consider an infinite horizontal layer or Walters
B' elastico-viscous fluid of depth 'd' bounded by the
planes z=0 and z=d in porous medium of porosity and
medium permeability k1 which is acted upon by a uni-
form rotation (0,0 , ) , uniform vertical magnetic field
( 0,0,H) and gravity (0,0,-g). The layer is heated from
below so that study adverse temperature gradient ) is
maintained.
The equation of motion and continuity for a viscous
incompressible fluid are
and
where and denote respec-
tively pressure, density, coefficient of viscosity, per-
meability, velocity, acceleration due to gravity and
uniform rotation. As the layer is heated from below so
that law of energy leads to equation of heat conduction
as
Where k, T, C
v
aare respectively denote thermal con-
ductivity, temperature, and specific heat at constant
volume respectively. The viscous dissipation term being
very small in magnitude is neglected from the equation
of heat conduction. When a fluid flows through a porous
medium, the gross effect is represented by Darcy's law.
As a result the usual resistance term replace
the usual viscous term where stands for the filter
velocity of the fluid. The equation of motion and con-
Effect of Rotation and Magnetic Field on Thermal
Instability In Walter's Elastico-viscous Fluids In Porous
Medium
* Hardeep Singh Teja
* Associate professor Department of Mathematics Govt. Mohindera College, Patiala
tinuity for Walter's B' viscoelastic fluid in porous me-
dium is given by

(
dT
dz

2
( ) 2 ( )
4
q e
p pg q H H p q w
t

+ + + +

(1)
. 0 q

(2)
,
, , , ( , , ),
e
p q u v w g

w

(3) ( ) ( )
v
T
p C T k
t t x

1
q
k

1
2
( ' ) ( ) ( )
4
e
p dq p p
p v v q pg H H q w
dt k t

] + + +
]

(4)
(5)
0 q

Where is a filter velocity of fluid and

denote respectively the kinematic viscosity and kine-
matic viscoelasticity. When the fluid flows through the
porous medium, the equation of heat conduction is
Where stands for density, specific heat of
the fluid and solid material respectively. k is the effec-
tive conductivity for the fluid in porous medium.
The equation of state is
Where is the coefficient of thermal expansion and
suffix zero refers to value of reference level Z=0
The Maxewell equation is
where stands for convective derivative.
Initially = (0,0,0) T= and
where
is the magnitude of uniform tempera-
ture gradient, which is maintained and is positive as
temperature decrease upwards.
denote respectively the perturbation in density p,
pressure p, temperature, magnetic field Hand velocity
(initially zero) The change in density
Then the linearized hydromagnetic equations in po-
rous medium are
0 0
, ' v v
p p

(6)
2
[ (1 )] ( . )
f s s f
dT
C p C pC q T k T
dt
+ +

, ,
,
f s s
C p C
0 0
[1 ( ) T T (7)
=0
(8)
2
( . )
d H
H q H
dt
+

.H

1
( . ),
d
q
dt t

0
T z 0
(1 ) z +
(9)
0 1
T T
d

,
, , , ( , ), ( , , )
x y z
p p h h h h q u v w

(10)
0

(11)
(12)
(13)
(14)
0 1 0 0
1 1 1 2
( ) ( ' ) ( ) ( )
4
e
q
p v v q g H H q w
t k t

+ + +

. 0 q

2
E w k
t

2
( . )
h
H q h
t

48 kks/k leh{kk vkS j ewY;kadu
International Indexed & Referred Research Journal, October,2012. ISSN 0974-2832, RNI- RAJBIL 2009/29954; VoL. IV * ISSUE- 45
(15)
. 0 h

1. Alfven, H on the existence fo electromagnetic hydrodynonic woves, Arkiv Mat Astro. Fysik 29 1942
2. Chander Shekhar, s. Thermal Convection Deadalus 86, 1957:323-39.
3. Euler, L: Principles generaux du movement des fluids Mem. Acad. Roy. Sci. Berlin 11. (1755): 274-315
4. Cowling, T.G: Teh Magnetic Field of sunspots, Mon Not. R.astron Soc 9, (1934), 39
5. Rayleigh, Lord : Phil: May 32 (1916) 529
6. Manegold, E.Kolloid-z-80 (1937) 253.
7. Joseph D.D, Stability of fluid motions, Springer-verlog. Berlin, Heidelberg and New York, Vol.-1 and 2 (1976)
8. Woodeing. R.A.J. Fluid Mech, 9 (1960):183
9. Sharma R.C. and Kumar, Czech. J. Plys. 47 (1997) 203-218
10. Walter,K, The motion of a elastico-viscous liquid contained between coazial cylinders .
11. Quart.J.Mech. appl. Math 15, (1960): 444
R E F E R E N C E
0,
0
(1 )( ),
s s
C
E C
C
+
,
s s
C
stand for density and specific heat of fluid and solid
materials respectively and k is thermal diffusivity. In
component form the above equations can be written as
and
1
0
1 1 1
( ' ) ( ) v v w p g
t t z
k
]

+ +
]

]
]
(16)
(17)
1
0 0
1 1 1 2
( ' ) ( ) ,
4
y
e z
H
v h
v v v p
t t x z x
k
| ` ]

+ + +
]


]
]
. ,
1
0
1 1 1
( ' ) ( ) v v w p g
t t z
k
]

+ +
]

]
]
(18)
0
u v w
x y z

+ +

(19)
2
x
x
u w
h
H
h
t z z

+


(20)
2
y
y
u w h
H
h
t z z

+


(21)
2
z
z
u w
h
H
h
t z z

+


(22)
(23)
Operating equation (16) and (17)by
respectively, and adding and using equations (19) and
(23), we get
0
y
x z
h
h h
x y z

+ +

and
x y


2 2
2
2 2
0 0
1
1 1 1 2
( ' ( )
4
e
z
H w
v v p h
t t z x y
k
]
| ` | `
+ + + +
]


. ,
] . ,
]
where is z-component of vorticity.
To eliminate p from equation (18) and (24)
differenting (24) w.r.t.z we get
(24)
v u
x y



2 2 2
2
2 2 2
1 0 0
1 1 1 2
_ ( ' ( )
4
e z
H h w
v v p
t k t z x y z z z
] | ` | `
+ + + +
]

. , . , ]
using (18) in the above equation, we get
(25) | i
2 2
2 2
2 2
1 0
1 1 2
_ ( '
4
e z
H h
v v w ga
t k t x y z z
] | `
+ + + +
]

. , ]
2 2 2
2
2 2 2
x y z

+ +

where
Now to find the z-component of vorticity:-
Differentiating equation (16) by y (17) by x and adding
we get
Where is z-component of current density.
Now to find the z-component of current density:-
Differentiating equation (20) w.r.t.y and (21) w.r.t.x and
subtracting we get,
1 0
1 1 2
( '
4
e
H w
v v
t k t z z
]
+ +
]

]
y x
x
h h
y



2
H
t z

+