scholarly journals Estimating the Influence of the Financial and Nonfinancial Factors on the Capital Gains Yield in the Case of the Romanian Stock Market

2014 ◽  
Vol 109 ◽  
pp. 1298-1302 ◽  
Author(s):  
Mihaela-Alina Robu ◽  
Elisabeta Jaba ◽  
Marilena Mironiuc ◽  
Ioan-Bogdan Robu
Keyword(s):  
Stock Market ◽  
Capital Gains ◽  
Nonfinancial Factors

scholarly journals Disposition Effect and Return Predictability in the Tunisian Stock Market

2017 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Cheïma Hmida ◽  
Ramzi Boussaidi
Keyword(s):  
Stock Market ◽  
Behavioral Finance ◽  
Stock Prices ◽  
Stock Price ◽  
Return Predictability ◽  
Capital Gains ◽  
Disposition Effect ◽  
Individual Investors ◽  
Long Run ◽  
Return Reversal

The behavioral finance literature has documented that individual investors tend to sell winning stocks more quickly than losing stocks, a phenomenon known as the disposition effect, and that such a behavior has an impact on stock prices. We examined this effect in the Tunisian stock market using the unrealized capital gains/losses of Grinblatt & Han (2005) to measure the disposition effect. We find that the Tunisian investors exhibit a disposition effect in the long-run horizon but not in the short and the intermediate horizons. Moreover, the disposition effect predicts a stock price continuation (momentum) for the whole sample. However this impact varies from an industry to another. It predicts a momentum for “manufacturing” but a return reversal for “financial” and “services”.

scholarly journals Studi Perbandingan Return Saham Perusahaan Perbankan dan Perusahaan Pertambangan di Bursa Efek Indonesia

2019 ◽  
Vol 4 (1) ◽  
pp. 33-40
Author(s):  
Endah Tri Wahyuningtyas ◽  
Mardiyah Anugraini
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Financial Sector ◽  
Capital Gains ◽  
Mining Companies

This research was conducted to answer investors’ doubts in investing their capital in the stock market, the large number of stock sectors offered in the stock market made investors have to analyze properly before deciding which sector of the stock promises the greatest profit and has the best growth. In this study the author tries to compare between the stock returns of the banking and financial sector in Indonesia securities. And the results of the research can be concluded that the stock returns of banking companies are based on capital gains higher than mining companies.

scholarly journals FIIs and Indian Stock Market: A Causality Investigation

2012 ◽  
Vol 14 (4) ◽  
pp. 5-24 ◽  
Author(s):  
Minakshi Paliwal ◽  
S. D. Vashishtha
Keyword(s):  
Stock Market ◽  
Capital Flows ◽  
Institutional Investors ◽  
Capital Gains ◽  
Market Returns ◽  
Causality Test ◽  
Stock Market Returns ◽  
Foreign Institutional Investors ◽  
And Performance ◽  
Indian Stock Market

While the volatility associated with portfolio capital flows is well known, there is also a concern that foreign institutional investors might introduce distortions in the host country markets due to the pressure on them to secure capital gains. In this context, present chapter attempts to find out the direction of causality between foreign institutional investors (FIIs) and performance of Indian stock market. To facilitate a better understanding of the causal linkage between FII flows and contemporaneous stock market returns (BSE National Index), a period of nineteen consecutive financial years ranging from January 1992 to December 2010 is selected. Granger Causality Test has been applied to test the direction of causality.

Stock and Labor Market Synchronization and Income Inequality: Evidence from OECD Countries

2018 ◽  
Vol 09 (01n02) ◽  
pp. 1850003
Author(s):  
Jie Li ◽  
Alice Y. Ouyang
Keyword(s):  
Labor Market ◽  
Income Inequality ◽  
Stock Market ◽  
Labor Markets ◽  
Oecd Countries ◽  
Capital Gains ◽  
Monetary Expansion ◽  
Market Participants ◽  
The Poor ◽  
The Rich

This paper formally tests how the synchronization of stock and labor markets can affect income inequality. The responsiveness of stock and labor markets to a monetary expansion is different, i.e., a stock market, in general, tends to respond much faster than labor market. When there is monetary expansion, stock market participants (usually the rich) can enjoy capital gains quicker than labor market participants (usually the poor). However, if a labor market is more synchronized with a stock market, the capital gains a rich can enjoy in a stock market would be faster matched by labor market response, leading to a shrinking income inequality. We empirically confirm the prediction with different synchronization measures, controlling endogeneity issues.

scholarly journals Co-movements in stock market returns, Ireland and London 1869–1929

2017 ◽  
Vol 24 (2) ◽  
pp. 167-184 ◽  
Author(s):  
Rebecca Stuart
Keyword(s):  
Stock Market ◽  
Capital Gains ◽  
Free State ◽  
Time Varying ◽  
Market Returns ◽  
Stock Market Returns ◽  
Monthly Data ◽  
Volatility Spillovers ◽  
Bivariate Garch Model ◽  
The Relationship

This article studies the relationship between the Irish and London stock markets over the period 1869 to 1929, using monthly data on capital gains. A bivariate GARCH model shows that there were significant volatility spillovers from the London to the Irish market, but not vice versa. This suggests that shocks originating in London were transmitted to Ireland, but that the reverse did not occur. Furthermore, the time-varying correlation indicates that the co-movement between London and Ireland declined during the Irish independence struggle and the establishment of the Irish Free State. The correlation appears to stabilise in the late 1920s.

CAPITAL GAINS TAX RATES AND STOCK MARKET VOLUME

1990 ◽  
Vol 43 (4) ◽  
pp. 411-425
Author(s):  
YOLANDA K. HENDERSON
Keyword(s):  
Stock Market ◽  
Capital Gains ◽  
Tax Rates ◽  
Capital Gains Tax ◽  
Market Volume

scholarly journals EFFECT OF DIVIDEND POLICY ON STOCK PRICES

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Adnan ALİ ◽  
Farzand Ali Jan ◽  
Ilyas Sharif
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Dividend Policy ◽  
Random Effect ◽  
Capital Gains ◽  
Upward Movement ◽  
Significant Relation ◽  
Market Prices ◽  
Return On Equity ◽  
Share Prices

This investigates the effect of dividend policy on stock prices. Objective of the study is to see if there exists any relationship between dividend policy and stock prices. We analyzed 45 non-financial companies listed on KSE-100 index that have earned profits and paid dividend for a period of twelve year w.e.f. 2001. Technique adopted for sampling adopted is convenience sampling. As the nature of data is panel therefore, pooled regression, fixed and random effect tests are run. Random effect results are focused after applying Hausman’s test.Regression Results witness that Dividend per Share andRetention Ratio havean insignificant relationship with Share Market Prices.Dividend Payout Ratio has a significant positive relationship with Share Prices as supported by the Bird in hand theory suggested that owners give preference to a dollar of estimated dividends over a likely dollar of capital gains. Profit after tax, Earning per share and Return on Equity are the three control variables. Profit after Tax has insignificant relation to Stock Prices. Earnings per Share have positive significant relation to Stock Prices. There is negative significant relation between Return on Equity and Share Prices. It is recommended that firms in the sample should regularly pay dividend as it will cause an upward movement in the stock market prices. Whereas profit retention by firms will result in a decrease in the value of the stock market prices.

scholarly journals Financial instruments of investment

2020 ◽  
pp. 35-39
Author(s):  
Tetiana ZUBKO ◽  
Andrii DIDKIVSKYI ◽  
Artem TERESHCHENKO
Keyword(s):  
Stock Market ◽  
Average Rate ◽  
Capital Gains ◽  
Financial Instruments ◽  
Government Bonds ◽  
Financial Investment ◽  
Advantages And Disadvantages ◽  
The Us

Introduction. One of the conditions of successful functioning, scaling and any enterprise developing is the availability of financial resources in an amount that responds to current and strategic needs. Their rational use, multiplication, and determination of the directions of investing can significantly affect the efficiency of the present activity and the future of the business as a whole. For an enterprise is important to search for ways to raise capital, ensure efficient use and invest in the most economically based and profitable projects in terms of payback position during the invest activities. The purpose of the paper is to analyze ways and compare methods of investing through financial instruments to find the best one. Results. The article systematizes the basic ways and types of investing through financial instruments. The practical aspects of return on invested financial capital and the conditions of its formation are investigated. The return on the invested capital of different ways of investing is compared and the ways of its increase are grounded. Deposits rates, inflation rate, and level of bonds' returns of Ukraine’s domestic government loans over the last twelve years are analyzed. The main US brokerage agencies are compared, and the best one is determined. The US stock market is analyzed. The advantages and disadvantages of financial investment instruments are identified. Conclusion. On the whole, having analyzed the deposit market, the Ukrainian government bonds, and the US stock market, we can conclude on the instruments of investing. The most popular option among Ukrainians is to use deposits. This financial instrument lets us save costs. The timing of the investment may vary depending on the needs. In comparison with deposits, T-bills are a more complex tool that requires additional knowledge and skills. This type of investing is used by investors to obtain short-term benefits and speculation. From 2018 to 2019, the annual average rate of return is 17%. Investment term up to 5 years. The last way to make a profit is to buy shares in the US stock market. With a long-term investment, this method of investing allows us to get 8% per annum with inflation-adjusted. Compared to deposits and T-bills, one can expect significant capital gains. The main disadvantages of this method are the human factor, so the large volume of funds should be accredited by institutional investors. In this article, investing in the US stock market is the best way to earn a return on investment.

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