scholarly journals The application of probability theory in speculative game of stock market

2021 ◽  
Vol 233 ◽  
pp. 01172
Author(s):  
Ya Guo Liu
Keyword(s):  
Probability Theory ◽  
Stock Market ◽  
Market Value ◽  
Investment Style ◽  
Retail Investors

The main fact of China's stock market so far is that it is a policy market, a capital driven market and a speculative market. Value investment is scarce. This paper tries to use the method of probability theory to get rid of the fog of the market, help the majority of retail investors wake up in cognition, realize that the strong are always strong, and form their own investment style, so as to realize the stable profit from the market.

Real options as a component of the market value of stocks: evidence from the Spanish Stock Market

2005 ◽  
Vol 37 (14) ◽  
pp. 1673-1691 ◽  
Author(s):  
Pablo de Andrés-Alonso ◽  
Valentín Azofra-Palenzuela ◽  
Gabriel de la Fuente-Herrero *
Keyword(s):  
Stock Market ◽  
Real Options ◽  
Market Value ◽  
Spanish Stock Market

A Computation Methods for Analysis on the Effect of Stock Market and its Application

2014 ◽  
Vol 1078 ◽  
pp. 444-447
Author(s):  
Zhan Xin Ma ◽  
En Yang Zhao ◽  
Xi Ming Lv ◽  
Zhi Min Ma
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Turnover Rate ◽  
Market Value ◽  
Chinese Economy ◽  
Data Envelopment ◽  
Chinese Stock Market ◽  
Return On Assets ◽  
Generalized Data Envelopment Analysis ◽  
New Policies

As a barometer of the macroeconomic of a country and an important part of the capital market, stock market has attracted increasing and highlighted attention. As is well-known, Chinese stock market is known as 'policy market', however, the issue about whether the stock market is really influenced by these policies is always an important and hot topic. In this paper, by using generalized data envelopment analysis, an analysis on the effect of the new policies carried out in May 2012 is provided based on closing price, Tobin Q, circulation market value, turnover rate, and return on assets. Based on the above results, it can show the effect of stock market policies on Chinese Economy.

Investor sentiment antecedents

2019 ◽  
Vol 11 (1) ◽  
pp. 36-54 ◽  
Author(s):  
Ranjan Dasgupta ◽  
Rashmi Singh
Keyword(s):  
Decision Making ◽  
Stock Market ◽  
Emerging Market ◽  
Investment Decision ◽  
Investor Sentiment ◽  
Equation Modeling ◽  
Content Type ◽  
Investment Decision Making ◽  
Retail Investors ◽  
Specific Factors

PurposeThe determinants of investor sentiment based on stock market proxies are found in numbers in empirical studies. However, investor sentiment antecedents developed from primary survey measures by constructing an investor sentiment index (ISI) are not done till date. The purpose of this paper is to fill this research gap by first developing an ISI for the Indian retail investors and then examining the investor-specific, stock market-specific, macroeconomic and policy-specific factors’ individual impact on the investor sentiment.Design/methodology/approachFirst, the authors develop the ISI by using the mean scores of six statements as formulated based on popular direct investor sentiment surveys undertaken throughout the world. Then, the authors employ the structural equation modeling approach on the responses of 576 respondents on 40 statements (representing the index and four study hypotheses) collected in 2016 across the country.FindingsThe results show that investor- and stock market-specific factors are the major antecedents of investor sentiment for these investors. However, interestingly macroeconomic fundamentals and policy-specific factors have no role to play in driving their sentiment to invest in the stock market.Practical implicationsThe major implication of the results is that the Indian retail investors are showing a mixed approach of Bayesian and behavioral finance decision making. So, these implications can guide the investment consultants, regulators, other stakeholders in markets and overwhelmingly the retail investors to introspect their investment decision making across time horizons.Originality/valueThe formulation of ISI in an emerging market context and thereafter examining possible antecedents to influence retail investors in their investment decision making are not done till date. So, the study is unique in its research issue and findings and will have significant implication for the retail investors at least in emerging market contexts.

scholarly journals On the estimation of the value of voting rights: Evidence from Taiwan

2006 ◽  
Vol 3 (2) ◽  
pp. 15-22 ◽  
Author(s):  
I-Hsiang Huang
Keyword(s):  
Stock Market ◽  
Abnormal Return ◽  
Market Value ◽  
Voting Rights ◽  
Publicly Traded ◽  
Private Benefit ◽  
Expected Return ◽  
Equity Ownership ◽  
Publicly Traded Firms

This paper proposes that the value of voting rights can be measured as the abnormal return of the date after the ex-voting rights date. The merit of this method is that it is applicable to all publicly traded firms. Whatever the expected return model is adopted, the vote value hypothesis of Manne (1962) is hold by using a sample of firms listed on Taiwan Stock Market whose annual shareholder meetings have a board election. Moreover, the result shows that the value of voting rights is negatively related to prior year’s market value of equity, managerial equity ownership, and return on asset. It is consistent with the hypothesis that the source of vote value comes from private benefit of control and improved management

scholarly journals The Effect of Macroeconomic Variables On the Saudi Stock Market

2019 ◽  
Vol 7 (12) ◽  
pp. 126-152
Author(s):  
Amani Mohammed Aldukhail
Keyword(s):  
Stock Market ◽  
Performance Indicators ◽  
Stock Price ◽  
Price Index ◽  
Inflation Rate ◽  
Market Value ◽  
Short Term ◽  
Macroeconomic Variables ◽  
Time Deposits

This study aimed at exploring the effect of macroeconomic variables on the activity of the Saudi stock market for the period 1997-2017. Macroeconomic variables were: GDP, interest rate on time deposits, inflation rate. The variables of the Saudi stock market activity were: stock price index, market value of shares, value of traded shares. To achieve this objective, the researcher used the ARDL model for the self-regression of the lagged distributed time gaps. The most important results of the research are: The effect of macroeconomic variables on the performance indicators in the Saudi stock market is not important in the short term and is statistically significant in the long term according to the proposed models, so investors in this market can rely on macroeconomic variables in Predict the movement of the stock market and predict long-term profits and losses.

An Examination of the Effect of IT Investments on Firm Value: The Case of Y2K-Compliance Costs

2000 ◽  
Vol 14 (2) ◽  
pp. 95-108 ◽  
Author(s):  
Gopal V. Krishnan ◽  
Ram S. Sriram
Keyword(s):  
Information Technology ◽  
Stock Market ◽  
Firm Value ◽  
Market Value ◽  
Annual Reports ◽  
Equity Valuation ◽  
Compliance Costs ◽  
Book Value ◽  
It Investments ◽  
Share Prices

In this study, using the recent Y2-compliance expenditures as an example, we examine whether disclosures relating to investments in information technology (IT) were relevant to investors in assessing the market value of equity. We use a sample of 190 firms that disclosed estimates of total Y2K-compliance costs in their 1997 annual reports to examine the association between Y2K-compliance costs and share prices. We test the joint hypothesis that Y2K-compliance costs were relevant to equity valuation of firms that chose to become Y2K-compliant and that these costs were sufficiently reliable to be reflected in share prices. We find that estimates of Y2K-compliance costs were positively and significantly related to share prices after controlling for earnings, book value of equity, and other factors. We find that the stock market is not shortsighted, and consider investments in Y2K-remediation efforts a significant and value-increasing activity for the average firm.

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