Showing 41 - 50 of 40,555
We investigate the price dynamics of large market-capitalization U.S. equity exchange-traded funds (ETFs) in order to uncover trader motivations and strategy. We show that prices of highly liquid ETFs can deviate significantly from their daily net asset values. By adjusting for changes in...
Persistent link: https://www.econbiz.de/10011077601
The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...
Persistent link: https://www.econbiz.de/10011114306
Simulation models of the stock exchange are developed to explore the dependence between a trader’s ability to predict future price movements and her wealth and probability of bankruptcy, to analyze the consequences of margin trading with different leverage rates and to compare different...
Persistent link: https://www.econbiz.de/10010762477
A szerző a 2008-ban kezdődött gazdasági világválság hatását vizsgálja az egy részvényre jutó nyereség előrejelzésének hibájára. Számos publikáció bizonyította, hogy az elemzők a tényértékeknél szisztematikusan kedvezőbb tervértéket adnak meg az egy részvényre...
Persistent link: https://www.econbiz.de/10010963077
We provide empirical support for the conventional wisdom that there are times when optimistic investors tend to build their hopes into castles in the air, and pay a large premium over intrinsic value for stocks of firms in the early stages of their life cycles with perceived growth...
Persistent link: https://www.econbiz.de/10010951370
We study the evolution of the behavioral component of the financial market by estimating a Bayesian mixture model in which two types of investors coexist: one rational, with standard subjective expected utility theory (SEUT) preferences, and one behavioral, endowed with an S-shaped utility...
Persistent link: https://www.econbiz.de/10010932898
The ongoing global financial crisis has become prominently visible since September 2008. This crisis affected the whole world and enhanced the importance of policy implementation to mitigate financial crises in future. Many academics blamed insufficient domestic regulation as the reason of...
Persistent link: https://www.econbiz.de/10010692892
This paper focuses on market discipline as a necessary condition to preserve the signaling content of balance sheet indicators and market prices as macroprudential tools. It argues that market discipline enhances the information content of market prices by reflecting the expected private cost of...
Persistent link: https://www.econbiz.de/10010693318
This paper deals with the monetary measures taken by the CBR to reduce the effects of 2008 economic crisis. The author speaks about the money market, iflation, and the state of the balance of payments.
Persistent link: https://www.econbiz.de/10010693868
We propose a simple method to infer the forecast error associated with quarterly estimates of earnings and revenue before the firm announces realized earnings and revenue. The method uses estimates of the profit margin implied by an analyst’s forecasts of both earnings and revenue to identify...
Persistent link: https://www.econbiz.de/10010703244