scholarly journals Stock Market Globalization: The Case of Emerging European Countries and the US

2014 ◽  
Vol 15 ◽  
pp. 91-99 ◽  
Author(s):  
Anca Munteanu ◽  
Angela Filip ◽  
Andreea Pece
2002 ◽  
Vol 182 ◽  
pp. 96-105 ◽  
Author(s):  
Denise R. Osborn ◽  
Marianne Sensier

This paper discusses recent research at the Centre for Growth and Business Cycle Research on the prediction of the expansion and recession phases of the business cycle for the UK, US, Germany, France and Italy. Financial variables are important predictors in these models, with the stock market playing a key role in the US but not the European countries, including the UK. In contrast, international linkages are important for the European countries. Our models suggest that the US and German economies have now emerged from the recession of 2001, and that all five countries will be in expansion during the third quarter of this year.


Author(s):  
Aref Emamian

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States


2020 ◽  
pp. 1-3 ◽  
Author(s):  
Nubia Muñoz

It is too early to know which will be the final death toll from the Covid-19 or SARS-CoV-2 virus epidemy in Latin America since the epidemy is still active and we will not know when it will end. The curve for new infections and deaths has not reached yet a peak (Figure 1). In addition, we know little about the epidemiology of this new virus. The daily litany of the number of people infected with the number of admissions to hospitals and intensive care units and the number of deaths guides health authorities to plan health services and politicians to gauge the degree of confinement necessary to control the transmission of the virus, but it says little about the magnitude of the problem if we do not relate it to the population at risk. At the end of the pandemic, we will be able to estimate age-standardized death rates for the different countries, but until then the crude death rates will provide a first glance or snapshot of the death toll and impact of the pandemic from March to May 2020. These rates are well below those estimated in other countries in Europe and North America: Belgium (82.6), Spain (58.0), the United Kingdom (57.5), Italy (55.0), France (42.9), Sweden (41.4), and the US (30.7). (Johns Hopkins CSSE, May 30, 2020). However, in the European countries and the US the number of deaths has reached a peak, while this is not the case in Latin American countries. (Figure 1). It should be taken into account that the above rates are crude and therefore, some of the differences could be due to the fact that European countries have a larger proportion of the population over 70 years of age in whom higher mortality rates have been reported.


2019 ◽  
Vol 12 (4) ◽  
pp. 463-475
Author(s):  
Selma Izadi ◽  
Abdullah Noman

Purpose The existence of the weekend effect has been reported from the 1950s to 1970s in the US stock markets. Recently, Robins and Smith (2016, Critical Finance Review, 5: 417-424) have argued that the weekend effect has disappeared after 1975. Using data on the market portfolio, they document existence of structural break before 1975 and absence of any weekend effects after that date. The purpose of this study is to contribute some new empirical evidences on the weekend effect for the industry-style portfolios in the US stock market using data over 90 years. Design/methodology/approach The authors re-examine persistence or reversal of the weekend effect in the industry portfolios consisting of The New York Stock Exchange (NYSE), The American Stock Exchange (AMEX) and The National Association of Securities Dealers Automated Quotations exchange (NASDAQ) stocks using daily returns from 1926 to 2017. Our results confirm varying dates for structural breaks across industrial portfolios. Findings As for the existence of weekend effects, the authors get mixed results for different portfolios. However, the overall findings provide broad support for the absence of weekend effects in most of the industrial portfolios as reported in Robins and Smith (2016). In addition, structural breaks for other weekdays and days of the week effects for other days have also been documented in the paper. Originality/value As far as the authors are aware, this paper is the first research that analyzes weekend effect for the industry-style portfolios in the US stock market using data over 90 years.


2006 ◽  
Vol 27 (6) ◽  
pp. 811-832 ◽  
Author(s):  
Angelo Fanelli ◽  
Nora Ilona Grasselli

This paper illustrates the construction of CEO charisma within the US stock market. By metaphorically employing the myth of the Minotaur, we discuss three forces underlying the rise of heroic CEO images in the USA: Ariadne, or charismatic leadership theory and its formulation of charisma; Theseus, or the CEOs struggling to obtain power over stock market actors; and the Minotaur, or the stock market itself and the securities analyst profession. Building on the literature on organizational symbolism, we present a qualitative study of two CEO successions, focusing on the form and content of the persona and the vision projected by CEOs and elaborated by securities analysts. The results suggest that jointly constructing charisma through discourse, CEOs and analysts enact a form of power that does not lie in top-down coercion, but rather on the emergent, active involvement and contribution of its very subjects.


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