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Persistent link: https://www.econbiz.de/10003341918
This text comprises a selection of topics that focus on African stock market performance. The main factor in this analysis is to examine the behavior of stock returns in a number of emerging stock markets from Africa, the efficiency in pricing securities as well as the relation between exchange...
Persistent link: https://www.econbiz.de/10013106003
-run performance following a regulatory reform (No. 54 [2002] China Securities Regulatory Commission (CSRC)) of the method of … allocating IPO shares in China. On 20 May 2002, the CSRC announced that IPO subscription and allotment would be based on the …
Persistent link: https://www.econbiz.de/10013138249
We analyze the impact of the pro-Russian conflict on stock returns in Russia and the Ukraine during the period November 21, 2013 to September 29, 2014. We utilize a newly created indicator for the degree of (de-)escalation based on an Internet search for conflict-related news. We find that...
Persistent link: https://www.econbiz.de/10010459026
The main objective of this research is to analyze whether the momentum effect (Jegadeesh, 1990) and the long-term reverse effect (DeBondt and Thaler, 1985) are observed at the Mexican Stock Exchange, their magnitude, and their significance. These anomalies challenge the efficient market...
Persistent link: https://www.econbiz.de/10013059258
Trading rules of the technical analysis are widely used in investing on the capital markets. However, prediction of the financial markets movements based on their past evolutions is in contradiction with the principles of the Efficient Market Hypothesis. In case of the emerging markets, the...
Persistent link: https://www.econbiz.de/10013016734
This paper reconsiders the role of foreign investors in developed country equity markets. It presents a quantitative model of trading that is built around two new assumptions about investor sophistication: (i) both the foreign and domestic populations contain investors with superior information...
Persistent link: https://www.econbiz.de/10013039668
rates and house prices. Some Chinese banks, especially the Bank of China, have been exposed to the US mortgage … replicated in China. This paper shows that there are some significant differences between China and the West, especially the US … and the UK. Compared with the US and other western industrialized economies, the booming house market in China has been …
Persistent link: https://www.econbiz.de/10013157129
This study examines the cross-sectional impact of the 2008 short sale ban on the returns of U.S. financial stocks. Motivated by the large cross-sectional variation in the extent to which banned stocks suffer an illiquidity shock, we hypothesize that stocks with larger liquidity declines are...
Persistent link: https://www.econbiz.de/10013116972
Standard pay-as-you-go pension system is facing long-term and short-term sustainability challenges in several countries. Possible replacement of standard pension system might be in a form of private pension savings. Private pension savings are meaningful only if they provide sufficiently high...
Persistent link: https://www.econbiz.de/10012506302