Stock price movement

This study examines the impact of dividend policy on share price volatility in the Vietnam banking sector in the context of financial integration. Empirical study on the sample of 13 commercial banks listed on the stock exchange showed that dividend policy had significant effects on the share price movement.

22p viindra 06-09-2023 10 4   Download

This paper aims to analyze the market reactions on corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions in growing and non-growing energy consuming companies in Indonesia. The market reaction is analyzed based on stock price, trading volume, and abnormal returns movements using paired sample t-tests from the results of the event study for 5 days before and after corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions.

6p caygaocaolon11 18-04-2021 17 2   Download

"Ebook A mathematician plays the stock market" presnet anticipating others' anticipations; fear, greed, and cognitive illusions; trends, crowds, and waves; chance and efficient markets; value investing and fundamental analysis; options, risk, and volatility; diversifying stock portfolios; connectedness and chaotic price movements

225p sachcongnghesinhhoc 14-03-2021 21 5   Download

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis.

30p timxiao 25-07-2020 45 2   Download

There is abundant study available which studied impact of dividend announcement on share price but this paper is modeled in different manner as dividend announcement is not one time process but any company takes several procedural checks to ensure announcement of dividend from conception to declaration and declaration to distribution which is segregated into two-fold study in the present paper.

11p guineverehuynh 17-06-2020 32 5   Download

This paper was conducted to examine the relationship between dividend policy and share price volatility of companies listed on Hochiminh Stock Exchange (HOSE) in Vietnam. Data set used in this research was compiled from financial statements of 260 listed firms on HOSE from 2009 to 2018.

12p kelseynguyen 26-05-2020 51 1   Download

This paper aims at examining the impact of oil price on GCC countries’ stock market returns. We apply wavelet analysis model for examining the relationship between oil and stock market returns. Using monthly data from May 2005 to December 2011, our results suggest that not all stock market in GCC region have a positive relationship with oil price as some have, instead, negative relationship with oil price. Oil price has a negative relationship with Bahrain, Saudi Arabia and United Arab Emirates.

11p cothumenhmong4 24-03-2020 45 4   Download

Chapter 10 - Equity markets. The purpose of this chapter is to answer the following questions about equity securities: What are they? How are they bought and sold? How are stock markets regulated? What determines the prices of equity securities? How do we measure the risk of equities? What is the meaning of various stock indexes such as the Dow Jones Industrial Average or the S&P 500? Do movements in the stock market predict changes in economic activity?

28p nomoney12 04-05-2017 58 2   Download

The paper presents a multi-document summarization system which builds companyspecific summaries from a collection of financial news such that the extracted sentences contain novel and relevant information about the corresponding organization. The user’s familiarity with the company’s profile is assumed. The goal of such summaries is to provide information useful for the short-term trading of the corresponding company, i.e., to facilitate the inference from news to stock price movement in the next day. We introduce a novel query (i.e.

9p bunthai_1 06-05-2013 52 2   Download

When you buy your first car, you experience an increase in demand for gasoline because gasoline is pretty useful for cars and not so much for other things. An imminent hurricane increases the demand for plywood (to protect windows), batteries, candles, and bottled water. An increase in demand is represented by a movement of the entire curve to the northeast (up and to the right), which represents an increase in the marginal value v (movement up) for any given unit, or an increase in the number of units demanded for any given price (movement to the right). ...

0p trinhcaidat 22-04-2013 73 3   Download

To my knowledge, this paper is the first to find evidence that news media content can predict movements in broad indicators of stock market activity. Using principal components analysis, I construct a simple measure of media pessimismfromthe content of theWSJ column. I then estimate the intertempo- ral links between this measure of media pessimism and the stock market using basic vector autoregressions (VARs). First and foremost, I find that high lev- els of media pessimism robustly predict downward pressure on market prices, followed by a reversion to fundamentals.

48p bocapchetnguoi 06-12-2012 75 3   Download

Both financial market participants and policymakers, such as central banks, closely follow financial market developments. However, the motivation for their interest in the financial markets differs in the sense that investors monitor asset price movements to optimize the risk-return profile on their investments, whereas central banks use financial market prices to infer information about market ex- pectations of economic growth and inflation.

86p bocapchetnguoi 06-12-2012 40 2   Download

As for the effect of macroeconomic variables such as money supply and interest rate on stock prices, the efficient market hypothesis suggests that competition among the profit-maximizing investors in an efficient market will ensure that all the relevant information currently known about changes in macroeconomic variables are fully reflected in current stock prices, so that investors will not be able to earn abnormal profit through prediction of the future stock market movements (Chong and Koh 2003).

35p bocapchetnguoi 05-12-2012 59 4   Download

An efficient capital market is one in which security prices adjust rapidly to the arrival of new information and, therefore, the current prices of securities reflect all information about the security. What this means, in simple terms, is that no investor should be able to employ readily available information in order to predict stock price movements quickly enough so as to make a profit through trading shares.

146p bocapchetnguoi 05-12-2012 76 3   Download

Regarding these two issues, we obtain the following results. First, we report strong negative skewness in the risk-neutral density, which indicates that the probability of a large decrease in stock prices exceeds the probability of a large increase. In the literature on US equity derivatives, this finding has been termed “crashophobia”. Our second result is that the implied volatility of the US stock market has the strongest effect on changes in the DAX RNDs.

80p bocapchetnguoi 05-12-2012 47 3   Download

Our paper offers two contributions to the literature: First, we investigate RNDs for the German stock market, which is the largest stock market in the euro area. Second, we evaluate whether a comprehensive set of factors can explain the changes in the uncertainty about future equity prices. Hence, we analyse which types of information affect the perceptions about future stock market movements as contained in DAX option prices.

39p bocapchetnguoi 05-12-2012 55 3   Download

The purpose of this paper is to analyse the risk-neutral density derived from prices of DAX options. We focus on observable factors that may influence changes in the moments of the RND. For this purpose, we investigate the impact of various macroeconomic and financial variables on risk-neutral densities of stock market movements. In this way, we attempt to uncover relationships between the implied volatility, skewness and kurtosis computed from the RND and the underlying fundamentals of the stock market. Our sample runs from December 1995 to November 2001.

39p bocapchetnguoi 05-12-2012 59 3   Download

The purpose of this paper is to analyse the risk-neutral density derived from prices of DAX options. We first estimate two specifications of the RND. Then, we focus on observable factors that may drive changes in the moments of the RND. For this purpose, we investigate the impact of various macroeconomic and financial variables on risk-neutral densities of stock market movements. In this way, we attempt to uncover relationships between the implied volatility, skewness and kurtosis computed from the RND and the underlying fundamentals of the stock market.

51p bocapchetnguoi 05-12-2012 56 3   Download

In Financial Economics, many researchers have studied option prices, because these derivatives contain unique information that is not available from the prices of other financial instruments. A call option gives the buyer the right to purchase in the future a certain asset at a price fixed today. The value of such an option is determined by the distance between the current stock price and the exercise price. When market participants price option contracts in the course of trading, they use forecasts of the probability of different asset prices for the period until the derivative expires.

31p bocapchetnguoi 05-12-2012 52 2   Download

The rationale for using oil price movements as a factor affecting stock valuations is that, in theory, the value of stock equals the discounted sum of expected future cash flows. These cash flows are affected by macroeconomic events that can be influenced by oil shocks. Indeed, oil exports affect the main economic variables in GCC countries: earnings, government budget revenues and expenditures and aggregate demand. So oil price increases should positively affect corporate output and earnings, and then stock returns in these countries.

23p quaivattim 04-12-2012 58 3   Download