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Pandemic or panic? : a firm-level study on the psychological and industrial impacts of COVID-19 on the Chinese stock market
Wang, Qiuyun; Liu, Lu - In: Financial innovation : FIN 8 (2022), pp. 1-38
This study presents a thorough investigation of the relationship between the coronavirus disease 2019 (COVID-19) and daily stock price changes. We use several types of COVID-19 patients as indicators for exploring whether stock prices are significantly affected by COVID-19's impact. In addition,...
Persistent link: https://www.econbiz.de/10013272717
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Review on efficiency and anomalies in stock markets
Woo, Kai-yin; Mai, Chulin; McAleer, Michael; Wong, Wing … - In: Economies : open access journal 8 (2020) 1/20, pp. 1-51
The efficient-market hypothesis (EMH) is one of the most important economic and financial hypotheses that have been tested over the past century. Due to many abnormal phenomena and conflicting evidence, otherwise known as anomalies against EMH, some academics have questioned whether EMH is...
Persistent link: https://www.econbiz.de/10012237439
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The existence of informationally efficient markets when individuals are rational
Muendler, Marc-Andreas - 2004
A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …
Persistent link: https://www.econbiz.de/10011451345
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Fiduciary Finance : Investment Funds and the Crisis in Financial Markets
Gold, Martin - 2012
This multi-faceted analysis of institutional investment defines fiduciary finance institutions as the third pillar of the financial system, alongside banks and insurers. It documents the role played by investment funds and the money management industry during the recent financial crisis, and...
Persistent link: https://www.econbiz.de/10013115823
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This Time is Different : An Example of a Giant, Wildly Speculative, and Successful Investment Mania
Odlyzko, Andrew - 2012
. The British railway mania of the 1830s involved real capital investment comparable, as a fraction of GDP, to about $2 …
Persistent link: https://www.econbiz.de/10013116261
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New Funds, Familiar Fears : Do Exchange Traded Funds Make Markets Less Stable? Part I, Liquidity Illusions
Clements, Ryan - 2020
Since the 2008 global financial crisis, exchange traded funds (ETF) have exploded in popularity. An ETF is an investment product that tracks an underlying index or basket of assets, like securities, bonds or commodities, but unlike mutual funds it trades like a stock. Many view ETFs as superior...
Persistent link: https://www.econbiz.de/10012849997
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The Chinese Warrants Bubble : Evidence from Brokerage Account Records
Pearson, Neil D. - 2020
We use brokerage account records to study trading during the Chinese put warrants bubble and find evidence consistent with extrapolative theories of speculative asset price bubbles. We identify the event that started the bubble and show that investors engaged in a form of feedback trading based...
Persistent link: https://www.econbiz.de/10012855245
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New Funds, Familiar Fears : Are Exchange Traded Funds Making Markets Less Stable? Part II – Interaction Risks
Clements, Ryan - 2020
operating and trading ecosystem. First, ETFs could create information cascades, facilitate investor herding, and financial …
Persistent link: https://www.econbiz.de/10012846813
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Is the Information Produced in the Stock Market Useful for Depositors?
Shimizu, Katsutoshi - 2012
The information produced by sophisticated investors in the stock market may be useful for uninformed depositors. Since … much information is not produced for Shinkin banks (cooperatives) in Japan, relying on the information from the stock …
Persistent link: https://www.econbiz.de/10013102563
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Stock Market Recommendations : Does it Help Investors?
Bandopadhyay, Kalpataru - 2014
The brokerage firms and financial institutions recommend for buying and selling shares throughout the year. The objective of the paper is to investigate whether there is any scope to earn higher return than the market on the basis of recommendation offered. This paper has considered one eighty...
Persistent link: https://www.econbiz.de/10013048629