Showing 1 - 10 of 561
The demand for cash balances of financial intermediaries that establish contractual liabilities with credit-sensitive customers is characterized. As stated by Merton, the success of the business activities of such firms crucially depends on their credit quality, and hence, they are obliged to...
Persistent link: https://www.econbiz.de/10013160192
prices, the outcome from investment decisions, with all the information available to economic agents in their rational …
Persistent link: https://www.econbiz.de/10005619423
This paper examines the applicability of CAPM in explaining the risk-return relation in the Malaysian stock market for … standard CAPM model with constant beta (Model I), the standard CAPM model with time-varying beta (Model II), the CAPM model … conditional on segregating positive and negative market risk premiums with constant beta (Model III), as well as the CAPM model …
Persistent link: https://www.econbiz.de/10005031389
individual companies, focusing on the implications for both researchers and investment practitioners. I develop inflation … companies. I find that inflation-based investment strategies conditioned on information available to investors as of the initial … investment and rebalancing dates result in significant risk-adjusted returns. I also investigate the sources of abnormal returns …
Persistent link: https://www.econbiz.de/10011259622
This paper reports the findings of Granger causality tests on the relationship between foreign direct investment … local financial market development is important in catalyzing the flow of foreign direct investment. findings results are …
Persistent link: https://www.econbiz.de/10008615015
This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via arbitrage pricing …, (ii) standard CAPM-minded decision makers may fail to profit from arbitrage opportunities, (iii) standard CAPM …-based valuation violates value additivity. As a consequence, the standard use of CAPM for project valuation and decision making should …
Persistent link: https://www.econbiz.de/10005260104
Securities Transaction Taxes have received much attention over the last few years with countries and global organizations trying to control the level of speculations, especially since the Global Financial Crisis. This study examines the impact of an increase in the level of securities...
Persistent link: https://www.econbiz.de/10011107269
This study attempts to estimate the impact of mega sports events organization on the stock market. For this purpose, there were selected seven sporting events taking place in the World Cup and European Football Championships and summer and winter Olympic Games. Next their impact on national...
Persistent link: https://www.econbiz.de/10011107497
This article is focus on the effect and implications of changes in money supply in US on stock bubble rise on the US capital market, which is represented by the Dow Jones Industrial Average index. This market was chosen according to the market capitalization. The attention of paper is focused on...
Persistent link: https://www.econbiz.de/10011107613
This paper examines whether stock prices for 16 countries are trend stationary or follow a random walk process using the (Zivot and Andrews, 1992) and (Lumsdaine and Papell, 1997) tests and monthly data (1987:12-2005:12). With one structural break, the ZA test results provide evidence in favour...
Persistent link: https://www.econbiz.de/10011107635