Intraday Periodicity Adjustments of Transaction Duration and Their
... large-cap stocks, they are less frequent for small-cap stocks. We would also mention that there is some regularity in the occurrence of multiple trades. For example, many multiple trades occur on the hour. In particular, there are many multiple trades at time stamps 10:00 and 15:45. An important fea ...
... large-cap stocks, they are less frequent for small-cap stocks. We would also mention that there is some regularity in the occurrence of multiple trades. For example, many multiple trades occur on the hour. In particular, there are many multiple trades at time stamps 10:00 and 15:45. An important fea ...
How volatile are East Asian stocks during high volatility periods?*
... normal distributions and are characterized by fat tails. Figure 1 shows the graphs of the stock price index and stock return for each of the seven countries. Table 2 presents the estimation results where two volatility states, a low and a high state, are assumed. Figure 2 shows the graph of the smo ...
... normal distributions and are characterized by fat tails. Figure 1 shows the graphs of the stock price index and stock return for each of the seven countries. Table 2 presents the estimation results where two volatility states, a low and a high state, are assumed. Figure 2 shows the graph of the smo ...
Predatory or Sunshine Trading? Evidence from Crude Oil ETF Rolls
... crude oil futures contract was $68.74, while USO’s share price was $68.02. Five and a half years later, on December 12, 2011, the price of the nearest futures contract (for January 2012 delivery) was $97.77, while the USO share price had fallen to $37.88.2 ...
... crude oil futures contract was $68.74, while USO’s share price was $68.02. Five and a half years later, on December 12, 2011, the price of the nearest futures contract (for January 2012 delivery) was $97.77, while the USO share price had fallen to $37.88.2 ...
Are Share Repurchases and Dividends Substitute
... of 26.1% over the period 1980-2000, dividends only grew at an average annual rate of 6.8%. As a consequence of these large differences in growth rates, share repurchases as a percentage of total dividends increased from 13.1% in 1980 to 113.1% in 2000. In 1999 and 2000 industrial firms spent more mo ...
... of 26.1% over the period 1980-2000, dividends only grew at an average annual rate of 6.8%. As a consequence of these large differences in growth rates, share repurchases as a percentage of total dividends increased from 13.1% in 1980 to 113.1% in 2000. In 1999 and 2000 industrial firms spent more mo ...
Saudi Capital Market Overview
... The Saudi Stock Exchange (Tadawul) is a joint stock company and the sole entity authorized in the Kingdom to act as the Securities Exchange (the “Exchange”) carrying out listing and trading in securities. The Securities Depository Centre (the “Centre”) (SDC), is a joint stock company and sole entity ...
... The Saudi Stock Exchange (Tadawul) is a joint stock company and the sole entity authorized in the Kingdom to act as the Securities Exchange (the “Exchange”) carrying out listing and trading in securities. The Securities Depository Centre (the “Centre”) (SDC), is a joint stock company and sole entity ...
Day Trading Skill 110523
... 185,000 day trading related trades over a two and a half year period (November 1998 through May 2000). Linnainmaa (2003) reports that the net returns of these investors are similar to those of a control sample. In a follow-up paper, Linnainmaa (2010) uses a sample of frequent traders in Finland to ...
... 185,000 day trading related trades over a two and a half year period (November 1998 through May 2000). Linnainmaa (2003) reports that the net returns of these investors are similar to those of a control sample. In a follow-up paper, Linnainmaa (2010) uses a sample of frequent traders in Finland to ...
Revisiting The Inadvertent Investment Company
... application of the Investment Company Act of 1940 (the “Company Act”) to commodity pools, as opposed to mutual funds, hedge funds and private equity funds. The purpose of this article is to distinguish the boundary between an investment company, as that term is defined in the Company Act, and a comm ...
... application of the Investment Company Act of 1940 (the “Company Act”) to commodity pools, as opposed to mutual funds, hedge funds and private equity funds. The purpose of this article is to distinguish the boundary between an investment company, as that term is defined in the Company Act, and a comm ...
Money Market Funds - Fort Pitt Capital Group
... Income Risk — The level of income you receive from the fund will be affected by movements in short-term interest rates. Interest Rate Risk — The value of your investment might decline because of a sharp rise in interest rates that causes the value of the fund’s portfolio holdings to fall. Liquidity ...
... Income Risk — The level of income you receive from the fund will be affected by movements in short-term interest rates. Interest Rate Risk — The value of your investment might decline because of a sharp rise in interest rates that causes the value of the fund’s portfolio holdings to fall. Liquidity ...
For Whom the Bell Tolls: The Demise of Exchange
... progress. Although competition to traditional markets from electronic trading markets may be the precipitating cause of this upheaval, more than technology is driving these changes. The worldwide rise in stock exchange trading volume, global integration of the capital markets and competition for tra ...
... progress. Although competition to traditional markets from electronic trading markets may be the precipitating cause of this upheaval, more than technology is driving these changes. The worldwide rise in stock exchange trading volume, global integration of the capital markets and competition for tra ...
ASTRAZENECA PLC (Form: F-3ASR, Received: 11/22/2016 11:52:39)
... Risks Relating to the Debt Securities Because we are a holding company and currently conduct our operations through subsidiaries, your right to receive payments on our debt securities is structurally subordinated to the liabilities of our subsidiaries. We are organized as a holding company, and sub ...
... Risks Relating to the Debt Securities Because we are a holding company and currently conduct our operations through subsidiaries, your right to receive payments on our debt securities is structurally subordinated to the liabilities of our subsidiaries. We are organized as a holding company, and sub ...
Playing the Field: Geomagnetic Storms and the Stock
... shows that geomagnetic storms correlate with sunspots, the annual correlation being 0.4 over the 1932-2000 period. On the contrary, the daily correlation between GMS and sunspots is only 0.1 over the same period.6 Also notice that the number of sunspots is usually higher than the number of storms, c ...
... shows that geomagnetic storms correlate with sunspots, the annual correlation being 0.4 over the 1932-2000 period. On the contrary, the daily correlation between GMS and sunspots is only 0.1 over the same period.6 Also notice that the number of sunspots is usually higher than the number of storms, c ...
Dividend Policy, Strategy and Analysis
... many of them insist on buying businesses that are inferior to what they already own and know, buying good ones at excessive prices, or buying ones outside the area of their experience and expertise.3 Far better to have paid dividends. How much should companies pay out as dividends, as against what t ...
... many of them insist on buying businesses that are inferior to what they already own and know, buying good ones at excessive prices, or buying ones outside the area of their experience and expertise.3 Far better to have paid dividends. How much should companies pay out as dividends, as against what t ...
Welbilt, Inc. - cloudfront.net
... Materials for the Stockholder Meeting.” As indicated in that notice, if you want to receive a paper or email copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request as instructed in that notice on or before April 14, 2017 to facilitate ...
... Materials for the Stockholder Meeting.” As indicated in that notice, if you want to receive a paper or email copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request as instructed in that notice on or before April 14, 2017 to facilitate ...
Avalon Advanced Materials Inc. (Form: 20-F
... “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by United States standards in documents filed with the SEC. United States investors should also understand that “inferred mineral resources” have a great amount of ...
... “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by United States standards in documents filed with the SEC. United States investors should also understand that “inferred mineral resources” have a great amount of ...
Duty of Care—Overcoming Business Judgment Rule
... Bascomb plans a business offering carriage rides. He hasn’t incorporated yet, but he plans to. He signs k with Antiques-R-Us to buy 10 carriages. He signs as “agent for ClassicRides, Inc., a corporation to be formed which will become a party to this contract.” The k calls for installment payments o ...
... Bascomb plans a business offering carriage rides. He hasn’t incorporated yet, but he plans to. He signs k with Antiques-R-Us to buy 10 carriages. He signs as “agent for ClassicRides, Inc., a corporation to be formed which will become a party to this contract.” The k calls for installment payments o ...
Statement of Additional Information
... Rights of Each Share Class Each share of common stock of a Fund is entitled to one vote in electing Directors and other matters that may be submitted to shareholders for a vote. All shares of all Classes of each Fund generally have equal voting rights. However, matters affecting only one particular ...
... Rights of Each Share Class Each share of common stock of a Fund is entitled to one vote in electing Directors and other matters that may be submitted to shareholders for a vote. All shares of all Classes of each Fund generally have equal voting rights. However, matters affecting only one particular ...
sales and leases
... b. Acting in mercantile capacity 3. Must be a signed writing a. If oral, must be supported by consideration AND 4. Assurance that the offer is held open 5. THEN offer is irrevocable even without consideration a. Offer is valid for three month maximum i. If offer is open for only twenty days, it is i ...
... b. Acting in mercantile capacity 3. Must be a signed writing a. If oral, must be supported by consideration AND 4. Assurance that the offer is held open 5. THEN offer is irrevocable even without consideration a. Offer is valid for three month maximum i. If offer is open for only twenty days, it is i ...
Assessment of the VP settlement system
... nancial Supervisory Authority that Danmarks Nationalbank is responsible for overseeing the securities settlement system.1 The securities settlement system is systemically important. It is central to banks' liquidity management activities, e.g. by affecting their access to credit from Danmarks Nation ...
... nancial Supervisory Authority that Danmarks Nationalbank is responsible for overseeing the securities settlement system.1 The securities settlement system is systemically important. It is central to banks' liquidity management activities, e.g. by affecting their access to credit from Danmarks Nation ...
Intra-industry reactions of stock split announcements
... with similar characteristics that are affected by common factors. Their results would imply stock split announcements will affect non-splitting firms with a high degree of similarity to splitting firms more than those with low degree of similarity. This suggests a positive relation between abnormal ...
... with similar characteristics that are affected by common factors. Their results would imply stock split announcements will affect non-splitting firms with a high degree of similarity to splitting firms more than those with low degree of similarity. This suggests a positive relation between abnormal ...
Order Exposure and Liquidity Coordination
... (i.e., overbidding). Our key results are therefore driven by the interaction of both mechanisms, liquidity competition in the primary exchange and order flow attraction from latent investors. A central finding of our study is that due to mis-coordination (large) hidden orders can significantly harm ...
... (i.e., overbidding). Our key results are therefore driven by the interaction of both mechanisms, liquidity competition in the primary exchange and order flow attraction from latent investors. A central finding of our study is that due to mis-coordination (large) hidden orders can significantly harm ...
Short (finance)
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In finance, short selling (also known as shorting or going short) is the practice of selling securities or other financial instruments that are not currently owned, and subsequently repurchasing them (""covering""). In the event of an interim price decline, the short seller will profit, since the cost of (re)purchase will be less than the proceeds which were received upon the initial (short) sale. Conversely, the short position will be closed out at a loss in the event that the price of a shorted instrument should rise prior to repurchase. The potential loss on a short sale is theoretically unlimited in the event of an unlimited rise in the price of the instrument, however in practice the short seller will be required to post margin or collateral to cover losses, and any inability to do so on a timely basis would cause its broker or counterparty to liquidate the position. In the securities markets, the seller generally must borrow the securities in order to effect delivery in the short sale. In some cases, the short seller must pay a fee to borrow the securities and must additionally reimburse the lender for cash returns the lender would have received had the securities not been loaned out.Short selling is most commonly done with instruments traded in public securities, futures or currency markets, due to the liquidity and real-time price dissemination characteristic of such markets and because the instruments defined within each class are fungible.In practical terms, going short can be considered the opposite of the conventional practice of ""going long"", whereby an investor profits from an increase in the price of the asset. Mathematically, the return from a short position is equivalent to that of owning (being ""long"") a negative amount of the instrument. A short sale may be motivated by a variety of objectives. Speculators may sell short in the hope of realizing a profit on an instrument which appears to be overvalued, just as long investors or speculators hope to profit from a rise in the price of an instrument which appears undervalued. Traders or fund managers may hedge a long position or a portfolio through one or more short positions.