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When hedging fails: what every CEO should know about speculation
Tokic, Damir - In: Journal of Management Development 31 (2012) 8, pp. 801-807
Purpose – The purpose of this paper is to explain the theory of speculation to corporate executives. It is important … excess speculation is always the primary cause of all bubbles, it is mandatory that corporate executives understand the … basics of speculation theory. Design/methodology/approach – The paper uses the case of Southwest Airlines to illustrate how …
Persistent link: https://www.econbiz.de/10014882885
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Explaining Speculative Expansions
Xiao, Wei - In: Contributions in Macroeconomics 4 (2004) 1
empirical data. Our results suggest that the speculation hypothesis has more explanatory power than the productivity hypothesis …
Persistent link: https://www.econbiz.de/10014588447
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Spekulation am Terminmarkt und die Preisentwicklung von Agrarrohstoffen am Kassamarkt: Eine Zeitreihenanalyse der CFTC Berichte für Weizen, Mais und Sojabohnen / Speculation in Fut...
Maul, Daniel; Fischer, Martin; Schiereck, Dirk - In: Jahrbücher für Nationalökonomie und Statistik 235 (2015) 6, pp. 608-629
Summary Over the last few years, rising prices and increasing price volatility of major agricultural food commodities were observed. This caused a debate among various organizations about who is responsible for this development. While many Non-Governmental Organizations proclaim that...
Persistent link: https://www.econbiz.de/10014609549
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Conventional futures: derivatives in Islamic law of contract
Uddin, Md Akther; Ahmad, Abu Umar Faruq - In: International Journal of Law and Management 62 (2020) 4, pp. 315-337
contract perspectives. The underlying theory and practice of Islamic finance is based on the principles of Islamic law of … does not exist, deferment in the both counter values, gharar or ambiguity and excessive risk taking, pure speculation and …
Persistent link: https://www.econbiz.de/10014782141
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Characteristics and development of corporate and sovereign CDS
Bannier, Christina E.; Heidorn, Thomas; Vogel, Heinz-Dieter - In: The Journal of Risk Finance 15 (2014) 5, pp. 482-509
Purpose – This paper aims to provide an overview of the market for corporate and sovereign credit default swaps (CDS), with particular focus on Europe. It studies whether the subprime crisis of 2007/2008 and, particularly, the European debt crisis 2009/2010 led to a differential development on...
Persistent link: https://www.econbiz.de/10014901981
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From anticipation to anxiety in a market for lottery-like stocks
Boisen, Mikael; Durand, Robert B.; Gould, John - In: Review of Behavioral Finance 7 (2015) 1, pp. 42-59
Purpose – The purpose of this paper is to investigate a unique sample of lottery-like stocks and contextualize their short-run price behavior with respect to behavioral principles. Design/methodology/approach – The authors conduct a short-run event-study of the abnormal returns for stock...
Persistent link: https://www.econbiz.de/10014990212
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The usage of currency derivatives in multilateral banks
KAMAU, PHILIP; INANGA, ENO L.; RWEGASIRA, KAMI - In: Management Research Review 38 (2015) 5, pp. 482-504
Purpose – The purpose of this paper is to investigate the extent to which multilateral banks (MBs) use currency derivatives (CDs) to hedge and speculate in managing currency risk. It aims to provide an empirical assessment of CDs products used by MBs as a group not studied before....
Persistent link: https://www.econbiz.de/10014952838
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Taxation, Asset Bubbles, and Endogenous Growth / Besteuerung, Bubbles und Endogenes Wachstum
Wiedmer, Thomas - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 4, pp. 500-507
asset bubble. This result is in contrast to economies without asset bubbles, where a capital gains tax usually decreases … Investitionen nicht mehr in produktive Sachinvestionen fließen. Eine Kapitalgewinnsteuer reduziert die Größe der Bubbles und …
Persistent link: https://www.econbiz.de/10014608897
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How Bubbles are Born and Burst in the Foreign Exchanges / Zum Entstehen und Platzen von Seifenblasen auf dem Devisenmarkt
Gartner, Manfred - In: Jahrbücher für Nationalökonomie und Statistik 218 (1999) 3-4, pp. 294-308
Summary Diba and Grossman (1987) demonstrated that the conception of a rational bubble as defined by Blanchard and Watson (1982) is impossible. The present paper shows that this impossibility theorem also applies under various imperfections and irrationalities. These are: sticky goods prices,...
Persistent link: https://www.econbiz.de/10014608682
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Avoiding the Pitfalls: Can Regime-Switching Tests Reliably Detect Bubbles?
van Norden, Simon; Vigfusson, Robert - In: Studies in Nonlinear Dynamics & Econometrics 3 (1998) 1
Our paper uses simulation methods to examine the size and power of regime-switching tests for bubbles. We find that … tests conservative; they understate the significance of the evidence of bubbles. Despite this, the tests display … considerable power to detect bubbles even when using the conservative asymptotic critical values. We also find that the frequency …
Persistent link: https://www.econbiz.de/10014620809