does anonymity matter in electronic limit order markets?1
... magnitude of future price changes. We divide each trading day into intervals of thirty minutes. We find that there is a positive and significant relationship between the magnitude of the price movement in one interval and the size of the spread in the previous interval. We also find that the strengt ...
... magnitude of future price changes. We divide each trading day into intervals of thirty minutes. We find that there is a positive and significant relationship between the magnitude of the price movement in one interval and the size of the spread in the previous interval. We also find that the strengt ...
Cash Dividend Announcement Effect: Evidence from Dhaka Stock
... pre-event measurement period. In event study methodology, the interest is to measure the performance of a security following an “event”. An important step in this process is to define what a “normal” or expected performance is or should be, and then it will be a matter of computation to realize what ...
... pre-event measurement period. In event study methodology, the interest is to measure the performance of a security following an “event”. An important step in this process is to define what a “normal” or expected performance is or should be, and then it will be a matter of computation to realize what ...
WORD
... per share has returned to par value or higher, the TWSE shall publicly announce reinstatement of margin purchase and short sale transactions in those shares. However, for shares issued by a TWSE primary listed company at no par value or at a par value other than NT$10 per share, announcement of rein ...
... per share has returned to par value or higher, the TWSE shall publicly announce reinstatement of margin purchase and short sale transactions in those shares. However, for shares issued by a TWSE primary listed company at no par value or at a par value other than NT$10 per share, announcement of rein ...
CHAPTER 11
... (iii) well-functioning security markets do not allow for the persistence of arbitrage opportunities. ...
... (iii) well-functioning security markets do not allow for the persistence of arbitrage opportunities. ...
The Effect of Cash Flow on Share Price of the Jordanian
... in revealing strength and weak points in term of establishment’s ability to fulfillits obligations, finance expansions and dividends whether for a short or long term (Barkiah, 2009). Thus, this statement can be defined, as a statement which reveals the changes in cash values of firm’s operational, i ...
... in revealing strength and weak points in term of establishment’s ability to fulfillits obligations, finance expansions and dividends whether for a short or long term (Barkiah, 2009). Thus, this statement can be defined, as a statement which reveals the changes in cash values of firm’s operational, i ...
Components of Target Capital for Life Companies
... “For our risk and investment strategy we need to be able to quantify the cash flow structure and the risk bearing capacity of our portfolios. For this the SST is a good (although in many aspects still to be modified and enhanced) basis. In addition, we can use the SST to test capital requirements fo ...
... “For our risk and investment strategy we need to be able to quantify the cash flow structure and the risk bearing capacity of our portfolios. For this the SST is a good (although in many aspects still to be modified and enhanced) basis. In addition, we can use the SST to test capital requirements fo ...
On the Compatibility of Value at Risk, Other Risk Concepts, and
... ratio. Risk may either be calculated by in-house models or by certain standard methods. For making investment decisions, however, banks may have another notion of risk. If the notion of risk contained in the regulation and that used by banks in their investment decisions differ, it is not clear what ...
... ratio. Risk may either be calculated by in-house models or by certain standard methods. For making investment decisions, however, banks may have another notion of risk. If the notion of risk contained in the regulation and that used by banks in their investment decisions differ, it is not clear what ...
LUSEM Thesis Template - Lund University Publications
... Trade businesses from other businesses. Being rather small and often having an unfavourable legal form, credits in the home market are expensive and hard to obtain. Additionally, Fair Trade companies mainly purchase in foreign currency, yet generate their income almost exclusively in domestic curren ...
... Trade businesses from other businesses. Being rather small and often having an unfavourable legal form, credits in the home market are expensive and hard to obtain. Additionally, Fair Trade companies mainly purchase in foreign currency, yet generate their income almost exclusively in domestic curren ...
A. Additive uncertainty
... as marginal revenue is determined by the elasticity of demand. Demand uncertainty does not change the way in which the ratio of the marginal revenue to price from an additional unit sold depends on the elasticity of demand. The right hand side is marginal cost of an expected unit sold. When producin ...
... as marginal revenue is determined by the elasticity of demand. Demand uncertainty does not change the way in which the ratio of the marginal revenue to price from an additional unit sold depends on the elasticity of demand. The right hand side is marginal cost of an expected unit sold. When producin ...
Convertible Bonds Primer
... The first is by companies as a means of deferred equity financing. If a company believes that its present share price is too low to issue common shares, they can issue convertibles with a conversion price above the current stock price. The firm also benefits from interest savings, as interest costs ...
... The first is by companies as a means of deferred equity financing. If a company believes that its present share price is too low to issue common shares, they can issue convertibles with a conversion price above the current stock price. The firm also benefits from interest savings, as interest costs ...
IQP-Computized trading stock - Worcester Polytechnic Institute
... can pick your favorite stock “guru” or “gurus” and get a list of stocks that scanned by each guru’s investment methodology. This powerful tool enables investors to pick their stocks the same way as gurus and many mutual fund managers do. But there are several drawbacks to this Guru Stock Screener. F ...
... can pick your favorite stock “guru” or “gurus” and get a list of stocks that scanned by each guru’s investment methodology. This powerful tool enables investors to pick their stocks the same way as gurus and many mutual fund managers do. But there are several drawbacks to this Guru Stock Screener. F ...
GCC Markets Monthly Report
... KSE started the month of February-15 on a positive note which, despite the decline in trading activity due to lesser number of trading days owing to the national holidays, recorded positive growth in all of the benchmark indices. Investors primarily targeted large cap stocks during the month, which ...
... KSE started the month of February-15 on a positive note which, despite the decline in trading activity due to lesser number of trading days owing to the national holidays, recorded positive growth in all of the benchmark indices. Investors primarily targeted large cap stocks during the month, which ...
Systemic risk of UCITS investment funds and financial market
... It is important to emphasize difference between the systemic risk analysed in this paper and the systematic risk as market or undiversifiable risk. Systematic risk has been the subject study in the field of portfolio management theory. The term systemic risk and its formal definition in relation to ...
... It is important to emphasize difference between the systemic risk analysed in this paper and the systematic risk as market or undiversifiable risk. Systematic risk has been the subject study in the field of portfolio management theory. The term systemic risk and its formal definition in relation to ...
Chapter IV: How Securities are Traded? etImUlbRtRtUv
... Specialists. These members perform two roles. First, any order that the commission broker cannot execute immediately because the current market price is not at or better than the specified limit price will be left with the specialist for possible execution in the future, called broker’s broker. Seco ...
... Specialists. These members perform two roles. First, any order that the commission broker cannot execute immediately because the current market price is not at or better than the specified limit price will be left with the specialist for possible execution in the future, called broker’s broker. Seco ...
IPO Underpricing in a Simultaneous Equations Model of Supply and
... the insider management from trading non-offered shares for 180 days similar to the U.S. ...
... the insider management from trading non-offered shares for 180 days similar to the U.S. ...
Contract Law Through the Lens of Laissez-Faire
... principle of laissez-faire stood or fell with the nineteenth-century contractual synthesis of offer, acceptance and consideration.11 Lawrence Friedman found a still tighter connection between the two sets of principles. Basically, then, the "pure" law of contract is an area of what we can call abst ...
... principle of laissez-faire stood or fell with the nineteenth-century contractual synthesis of offer, acceptance and consideration.11 Lawrence Friedman found a still tighter connection between the two sets of principles. Basically, then, the "pure" law of contract is an area of what we can call abst ...
Rare events and investor risk aversion
... great deal of uncertainty on Future oil supplies.4 The first two events, the end of the bull commodity cycle and the credit freeze bottom, are characterised as end-of-cycle and were possibly anticipated by investors. The last two events, the BP platform explosion and the Libyan uprising, should be c ...
... great deal of uncertainty on Future oil supplies.4 The first two events, the end of the bull commodity cycle and the credit freeze bottom, are characterised as end-of-cycle and were possibly anticipated by investors. The last two events, the BP platform explosion and the Libyan uprising, should be c ...
Private Placement Financing - Informa Financial Intelligence
... Investors stuck to their post-election guns when it came to sectors in early December, steering more money into the EPFR Globaltracked Sector Funds they believe will benefit from the reflationary policies promised by US President-elect Donald Trump and pulling money out of those they expect will suf ...
... Investors stuck to their post-election guns when it came to sectors in early December, steering more money into the EPFR Globaltracked Sector Funds they believe will benefit from the reflationary policies promised by US President-elect Donald Trump and pulling money out of those they expect will suf ...
Currency Induced Credit Risk Management Guidelines
... most important risk in the banking operation. As its name says, it is a risk associated with a currency in which a loan or another placement is granted. Currency induced credit risk (hereinafter: CICR) is inherent in all the banking systems commonly considered dollarised or euroised systems. These a ...
... most important risk in the banking operation. As its name says, it is a risk associated with a currency in which a loan or another placement is granted. Currency induced credit risk (hereinafter: CICR) is inherent in all the banking systems commonly considered dollarised or euroised systems. These a ...
Survey Expectations and the Equilibrium Risk
... and a growing literature studies if such a presence has a price impact or can be neglected. Instead, one aspect that has attracted little investigation, so far, concerns the role of the investors’ survey expectations in the context of equilibrium asset pricing. Namely, the literature has usually dis ...
... and a growing literature studies if such a presence has a price impact or can be neglected. Instead, one aspect that has attracted little investigation, so far, concerns the role of the investors’ survey expectations in the context of equilibrium asset pricing. Namely, the literature has usually dis ...