Towards a General Theory of the Stock Market
... EMH. Nevertheless, not all adherents of the EMH have been persuaded. For most of the above anomalies, explanations have been put forward which are compatible with the EMH. For example, large increases in stock prices can be explained by a big improvement in fundamentals or by a significant fall in t ...
... EMH. Nevertheless, not all adherents of the EMH have been persuaded. For most of the above anomalies, explanations have been put forward which are compatible with the EMH. For example, large increases in stock prices can be explained by a big improvement in fundamentals or by a significant fall in t ...
Why Has Swedish Stock Market Volatility Increased?
... To test the Markov assumption that the probability of state shifts only depend on the current state, I have performed two tests. The first, Markov I, is to run one regression for each of the scores with respect to the probabilities qw(0), qw(1), qd(0) qd(1). In this test, one period lagged values of ...
... To test the Markov assumption that the probability of state shifts only depend on the current state, I have performed two tests. The first, Markov I, is to run one regression for each of the scores with respect to the probabilities qw(0), qw(1), qd(0) qd(1). In this test, one period lagged values of ...
CEO-Overconfidence
... • Likely to overvalue a takeover target because they overestimate returns they can generate from the combined firm. • Likely to overvalue their contribution to their own company. Overconfidence implies that managers view their company as undervalued by outside investors who are less optimistic about ...
... • Likely to overvalue a takeover target because they overestimate returns they can generate from the combined firm. • Likely to overvalue their contribution to their own company. Overconfidence implies that managers view their company as undervalued by outside investors who are less optimistic about ...
issue price: 101%
... recommendation by the Issuer to enter into any transaction with respect to the Securities. Each prospective investor contemplating a purchase of the Securities should make its own independent investigation of the risks associated with a transaction involving the Securities. An investment in the Secu ...
... recommendation by the Issuer to enter into any transaction with respect to the Securities. Each prospective investor contemplating a purchase of the Securities should make its own independent investigation of the risks associated with a transaction involving the Securities. An investment in the Secu ...
NBER WORKING PAPER SERIES EXECUTIVES' "OFF-THE-JOB" BEHAVIOR, CORPORATE CULTURE, AND FINANCIAL
... more frequent M&A activity, while Schrand and Zechman (2011) find that overconfident CEOs are more likely to initially overstate earnings by small, within GAAP amounts, which can then put them on a “slippery slope” to accounting fraud. Aktas, Bodt, Bollaert and Roll (2011) find that CEO narcissism i ...
... more frequent M&A activity, while Schrand and Zechman (2011) find that overconfident CEOs are more likely to initially overstate earnings by small, within GAAP amounts, which can then put them on a “slippery slope” to accounting fraud. Aktas, Bodt, Bollaert and Roll (2011) find that CEO narcissism i ...
Momentum Effect: Empirical Evidence from Karachi Stock Exchange
... strategies without one month gap between formation period and holding period and 16 strategies with one month gap between formation period and holding period, and reported the positive and statistically significant returns from momentum portfolio. One interesting aspect of their study was that the w ...
... strategies without one month gap between formation period and holding period and 16 strategies with one month gap between formation period and holding period, and reported the positive and statistically significant returns from momentum portfolio. One interesting aspect of their study was that the w ...
FREE Sample Here - We can offer most test bank and
... 37) Which of the following is an example of both a capital market and a primary market transaction? A) The U.S. Government sells 3-month Treasury Bills. B) Microsoft common stock owned by an individual investor is sold to another investor. C) Ford Motor Company sells a new issue of common stock to r ...
... 37) Which of the following is an example of both a capital market and a primary market transaction? A) The U.S. Government sells 3-month Treasury Bills. B) Microsoft common stock owned by an individual investor is sold to another investor. C) Ford Motor Company sells a new issue of common stock to r ...
Securities Processing: The Effects of a T+3 System on Security Prices
... suggests that this may be the result of the government‟s attempt to control wages and ...
... suggests that this may be the result of the government‟s attempt to control wages and ...
WPX ENERGY, INC. (Form: 424B2, Received: 01/17
... at any time and from time to time, in one or more offerings, any combination of the securities described in this prospectus supplement and the accompanying base prospectus. As allowed by the SEC rules, this prospectus supplement does not contain all of the information included in the registration st ...
... at any time and from time to time, in one or more offerings, any combination of the securities described in this prospectus supplement and the accompanying base prospectus. As allowed by the SEC rules, this prospectus supplement does not contain all of the information included in the registration st ...
Is a Limited Partnership Interest a Security
... Traditionally, limited partnerships have not been widely used investment vehicles. Among investments which limit the investor's liability, corporate securities are generally more available and provide for greater ease of transfer. During the past decade, however, tax shelter programs, and particular ...
... Traditionally, limited partnerships have not been widely used investment vehicles. Among investments which limit the investor's liability, corporate securities are generally more available and provide for greater ease of transfer. During the past decade, however, tax shelter programs, and particular ...
Ch. 7 - UConn Math
... willing to tolerate. This is a complicated issue and depends on numerous factors, one of which is the investment time horizon. If the investor has a short time horizon, then stocks are generally not preferred. ...
... willing to tolerate. This is a complicated issue and depends on numerous factors, one of which is the investment time horizon. If the investor has a short time horizon, then stocks are generally not preferred. ...
Technical Analysis - SelectedWorks
... The ideological debate between fundamental analysis and technical analysis continues to be waged in the trading pits, electronic trading labs, proprietary trading firms, investment management companies, and the halls of the academy. This debate largely hinges on whether investors, both individual an ...
... The ideological debate between fundamental analysis and technical analysis continues to be waged in the trading pits, electronic trading labs, proprietary trading firms, investment management companies, and the halls of the academy. This debate largely hinges on whether investors, both individual an ...
Sample
... records, Bill recommends the purchase of Expo stock to his brother. A) Bill is involved in insider trading prohibited by the SEC. B) Bill's brother has no direct connection to Expo Corporation and therefore his purchase of the stock is not prohibited by insider trading laws. C) Bill is not an inside ...
... records, Bill recommends the purchase of Expo stock to his brother. A) Bill is involved in insider trading prohibited by the SEC. B) Bill's brother has no direct connection to Expo Corporation and therefore his purchase of the stock is not prohibited by insider trading laws. C) Bill is not an inside ...
US Treasury Market US Treasury Market
... This research report has been prepared and issued by MLPF&S and/or one or more of its non-U.S. affiliates. MLPF&S is the distributor of this research report in the U.S. and accepts full responsibility for research reports of its non-U.S. affiliates distributed in the U.S. Any U.S. person receiving t ...
... This research report has been prepared and issued by MLPF&S and/or one or more of its non-U.S. affiliates. MLPF&S is the distributor of this research report in the U.S. and accepts full responsibility for research reports of its non-U.S. affiliates distributed in the U.S. Any U.S. person receiving t ...
© 2014 Thomson Reuters. No claim to original U.S. Government
... financial officer at Cenco who reported his suspicions to the Securities and Exchange Commission. Cenco's independent auditor throughout the period of the fraud, the accounting partnership of Seidman & Seidman, either never discovered the fraud or if it did failed to report it. The fraud primarily i ...
... financial officer at Cenco who reported his suspicions to the Securities and Exchange Commission. Cenco's independent auditor throughout the period of the fraud, the accounting partnership of Seidman & Seidman, either never discovered the fraud or if it did failed to report it. The fraud primarily i ...
February 9, 1994 File No. ---------------
... with the effect of changing or influencing the control of the issuer, nor in connection with or as a participant in any transaction having such purpose or effect." The Equitable Entities have certified in their Schedule 13G that they meet this criterion. Alliance's business is to manage investment ...
... with the effect of changing or influencing the control of the issuer, nor in connection with or as a participant in any transaction having such purpose or effect." The Equitable Entities have certified in their Schedule 13G that they meet this criterion. Alliance's business is to manage investment ...
The High Dividend Yield Return Advantage
... and dividend yields of common stocks. They reasoned that investors would demand superior pretax returns from dividend paying securities to compensate for the higher tax rates applied against their dividend income streams. Their data, which was supplied by the Center for Research in Security Prices a ...
... and dividend yields of common stocks. They reasoned that investors would demand superior pretax returns from dividend paying securities to compensate for the higher tax rates applied against their dividend income streams. Their data, which was supplied by the Center for Research in Security Prices a ...
corporate lobbying and fraud detection
... attempt to conceal fraud. One example is that of Weststar Energy, a public utility company whose CEO was indicted for fraud due to a series of mismanagements and whose fraud cost shareholders over $793.4 million in 2002 alone. Weststar relied on intensive lobbying to implement plans to prevent failu ...
... attempt to conceal fraud. One example is that of Weststar Energy, a public utility company whose CEO was indicted for fraud due to a series of mismanagements and whose fraud cost shareholders over $793.4 million in 2002 alone. Weststar relied on intensive lobbying to implement plans to prevent failu ...
Speculative Retail Trading and Asset Prices
... in which investors with realization utility exhibit risk-seeking behavior. These investors may hold and trade more frequently high-volatility stocks because those stocks offer a greater chance of realizing gains. Motivated by these earlier studies, we examine whether speculative trading activities o ...
... in which investors with realization utility exhibit risk-seeking behavior. These investors may hold and trade more frequently high-volatility stocks because those stocks offer a greater chance of realizing gains. Motivated by these earlier studies, we examine whether speculative trading activities o ...
Table 1: Granger Causality Testing between Prices and Volumes
... Further support is provided by Wang (1994) on the basis of the diversity associated with the availability of information to different investors. Similar to the winner’s curse idea with IPO pricing, uninformed traders require a higher price discount when buying assets from informed traders due to the ...
... Further support is provided by Wang (1994) on the basis of the diversity associated with the availability of information to different investors. Similar to the winner’s curse idea with IPO pricing, uninformed traders require a higher price discount when buying assets from informed traders due to the ...
Private Placement of Securities in Canada
... Prospectus requirements attach to every distribution of securities in Canada regardless of whether the primary purpose of the distribution is to sell the securities or whether the distribution is only incidental to a larger business transaction. One transaction exemption, the Transaction Exemption, ...
... Prospectus requirements attach to every distribution of securities in Canada regardless of whether the primary purpose of the distribution is to sell the securities or whether the distribution is only incidental to a larger business transaction. One transaction exemption, the Transaction Exemption, ...
Circular no. 155/TT-BTC on guidelines for information disclosure on
... dd) Other means of mass media as prescribed (print newspapers, online newspapers, etc.). 2. The disclosers being organizations must create websites as follows: a) Each public company shall create its website within 6 months from the date of becoming public company. Each organization making public of ...
... dd) Other means of mass media as prescribed (print newspapers, online newspapers, etc.). 2. The disclosers being organizations must create websites as follows: a) Each public company shall create its website within 6 months from the date of becoming public company. Each organization making public of ...
Philippine Bond Market Guide
... comments and reviewed the draft of the Philippine Market Guide. The ADB Team also would like to express special thanks to Citibank, Deutsche Bank AG, Hongkong Shanghai Banking Corporation, J.P. Morgan Chase, and State Street as International Experts for their contribution to provide information from ...
... comments and reviewed the draft of the Philippine Market Guide. The ADB Team also would like to express special thanks to Citibank, Deutsche Bank AG, Hongkong Shanghai Banking Corporation, J.P. Morgan Chase, and State Street as International Experts for their contribution to provide information from ...
An Overview of Investor Sentiment in Stock Market
... growing, highly volatile, financially distressed, non-dividend paying firms with low capitalization and low profitability. The methodology is designed to track the effect of an aggregate sentiment to market returns and individual stocks. This comprehensive “top-down” approach seeks to improve the pr ...
... growing, highly volatile, financially distressed, non-dividend paying firms with low capitalization and low profitability. The methodology is designed to track the effect of an aggregate sentiment to market returns and individual stocks. This comprehensive “top-down” approach seeks to improve the pr ...
Revisiting The Inadvertent Investment Company
... area that historically has received little attention and continues to exist in relative obscurity is the 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 disti ...
... area that historically has received little attention and continues to exist in relative obscurity is the 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 disti ...