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Real dividend - stock market price causality nexus: an application of Markov switching model
Anoruo, Emmanuel - In: Afro-Asian Journal of Finance and Accounting 4 (2014) 1, pp. 63-74
market prices is consistent with the 'dividend irrelevance theory' which posits that dividends do not have predictive power …This paper examines the causal relationship between real dividends and stock market prices for the USA using the Markov …-switching vector autoregressive model (MS-VAR). The results indicate that both real dividends and stock market prices have one order of …
Persistent link: https://www.econbiz.de/10010756271
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The new science of technical analysis
DeMark, Thomas R. <Senior> - 1994
Persistent link: https://www.econbiz.de/10004568545
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On The Question of Seasonal Regularities in Australian Capital Markets
IV, James C. Dyer; Keating, Gary R. - In: Australian Journal of Management 2 (1977) 1, pp. 1-10
The folklore that rates of return on the Australian capital market exhibit seasonals is tested. Previous studies by Praetz (1973) and Officer (1975) have reported seasonals. Rozeff and Kinney (1976) follow up these studies and confirm the seasonal in U.S. data. Using spectral techniques, this...
Persistent link: https://www.econbiz.de/10010769341
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Limit pricing and entry under incomplete information : an equilibrium analysis
Milgrom, Paul; Roberts, John - In: Econometrica : journal of the Econometric Society, an … 50 (1982) 2, pp. 443-459
Persistent link: https://www.econbiz.de/10002493304
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The Efficiency of the Japanese Equity Market
Nagayasu, Jun - International Monetary Fund (IMF) - 2003
Using the ARFIMA-FIGARCH model, this paper studies the efficiency of the Japanese equity market by examining the statistical properties of the return and volatility of the Nikkei 225. It shows that both follow a long range dependence, which stands against the efficient market hypothesis (EMH)....
Persistent link: https://www.econbiz.de/10005825859
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Short-Run Pain, Long-Run Gain; The Effects of Financial Liberalization
Schmukler, Sergio L.; Kaminsky, Graciela Laura - International Monetary Fund (IMF) - 2003
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...
Persistent link: https://www.econbiz.de/10005826221
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Kuwait; Financial System Stability Assessment: Update
International Monetary Fund (IMF); International … - 2010
The study shows that the global financial crisis has adversely affected Kuwait’s financial system, especially in the Investment Company (IC) sector. Stress tests indicate that, in contrast to the ICs, the banking system could broadly withstand significant shocks. The Central Bank of...
Persistent link: https://www.econbiz.de/10011244313
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Sweden; Financial Sector Assessment Program Update: Technical Note on Stress Testing of the Banking Sector
International Monetary Fund (IMF); International … - 2011
Although Sweden has recovered from the financial crisis, authorities have already initiated exit measures from crisis response policies. The Financial Sector Assessment Program (FSAP) Update undertook a financial stability analysis of the banking sector, including a comprehensive stress-testing...
Persistent link: https://www.econbiz.de/10011244366
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Peru; Second Review Under the Stand-By Arrangement and Requests for Establishment of Performance Criteria, Wavier of Nonobservance of Performance Criteria, and Rephasing of Future...
International Monetary Fund (IMF); International … - 2007
This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...
Persistent link: https://www.econbiz.de/10011244851
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Spain; Financial Sector Assessment Program: Technical Note: Stress Testing Methodology and Results
International Monetary Fund (IMF); International … - 2006
This report presents a description of the stress test exercises for Spain’s banking and insurance systems. The exercises were carried out in the context of the Financial Sector Assessment Program with the aim of assessing the resilience of the financial system to key risks. It describes...
Persistent link: https://www.econbiz.de/10011245836