scholarly journals The impact of CSR and green investment on stock return of Chinese export industry

2021 ◽  
pp. 1-17
Author(s):  
Zeyun Li ◽  
Siao-Yun Wei ◽  
Liang Chunyan ◽  
Mahfod Mobarak N. Aldoseri ◽  
Abdul Qadus ◽  
...  
Keyword(s):  
Stock Return ◽  
Export Industry ◽  
Green Investment ◽  
Chinese Export ◽  
The Impact

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

Market overreaction, firm-specific information and macroeconomic variables in US and Chinese markets during COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ooi Kok Loang ◽  
Zamri Ahmad
Keyword(s):  
Unemployment Rate ◽  
Stock Return ◽  
Design Methodology ◽  
Specific Information ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Real Gdp ◽  
Chinese Markets ◽  
The Impact ◽  
Loser Portfolio

PurposeThis study examines the impact of firm-specific information and macroeconomic variables on market overreaction of US and Chinese winner and loser portfolio before and during COVID-19.Design/methodology/approachThe firm-specific information includes firm size, volume, volatility, return of asset (ROA), return of equity (ROE), earning per share (EPS) and quick ratio while the macroeconomic variables are export rate, import rate, real GDP, nominal GDP, FDI, IPI and unemployment rate. Besides, one-third of the top performance stocks are categorized as winner portfolio while one-third of lowest performance stocks are categorized as loser portfolio. This study uses AECR to indicate stock return and measure market overreaction. GAECR is used to determine contrarian profit. The data range of pre-COVID-19 is from 1-Jan-2015 to 31-Dec-2019 while the period of COVID-19 is from 1-Jan-2020 to 31-Dec-2020.FindingsIn pre-COVID-19, firm-specific information (volatility, ROA, ROE and EPS) and macroeconomic variables are found to be correlated to stock return in US and Chinese portfolios except Chinese winner portfolio. Nonetheless, the impact of firm-specific information has vanished and macroeconomic variables are significant to stock return in COVID-19. It shows that investors rely on the economic indicators to trade in turbulent period due to emergence of COVID-19 as a disruption in market. Furthermore, US and Chinese portfolios are overreacted during COVID-19. Chinese loser portfolio has higher tendency of overreaction than US loser portfolio while US winner portfolio has higher tendency of overreaction than Chinese winner portfolio.Originality/valueThe results of this study assists academician, practitioners and investors on understanding and create awareness to the existence of market overreaction and the determinants that can cause the phenomenon.

scholarly journals The impact of investors’ behavior and managers’ overconfidence on stock return: Evidence from Iran

2018 ◽  
Vol 5 (1) ◽  
pp. 1559716 ◽  
Author(s):  
Hossein Jokar ◽  
Vahid Daneshi ◽  
Collins G. Ntim
Keyword(s):  
Stock Return ◽  
The Impact

scholarly journals Does Financial Performance Matter? Evidence on the Impact of Liquidity and Firm Size on Stock Return in Indonesia

2020 ◽  
Vol 11 (4) ◽  
pp. 546
Author(s):  
Mochammad Chabachib ◽  
Ike Setyaningrum ◽  
Hersugondo Hersugondo ◽  
Intan Shaferi ◽  
Imang Dapit Pamungkas
Keyword(s):  
Stock Returns ◽  
Firm Size ◽  
Significant Relationship ◽  
Stock Return ◽  
Stock Exchange ◽  
Mediating Effect ◽  
Return On Equity ◽  
Stock Investment ◽  
Equity Ratio ◽  
The Impact

In the modern era, stock investment can attract domestic investors or foreign investors. The objective is to invest their funds at the capital market that expect higher stock returns. The study aims to analyze factors that can affect stock returns and know the mediating effect of return on equity. The object of this research is the property and real estate sector that is listed on the Indonesia Stock Exchange from 2013 to 2018. This research used debt to equity ratio, current ratio, total asset turnover, firm size as independent variables and stock returns as dependent variables. Path analysis is used as reseach method tools with SMART PLS.The result says that debt to equity ratio and return on equity has a positive significant relationship with stock return, meanwhile firm size has a significant negative significant relationship with stock returns. Furthermore, return on equity can mediate the relationship between debt and equity ratios to stock returns.

The Mirror of Malaysia Real Estate Investment Trust Stock Return in the Short-Run Dynamics

2021 ◽  
Vol 12 (3) ◽  
pp. 547-562
Author(s):  
William Choo Keng Soon Et.al
Keyword(s):  
Real Estate ◽  
Crude Oil ◽  
Capital Market ◽  
Stock Price ◽  
Trading Volume ◽  
Stock Return ◽  
Financial System ◽  
Empirical Finding ◽  
Short Run ◽  
The Impact

The formation of Islamic capital market under the subcomponent of Islamic financial system scratch a milestones development of Islamic finance in Malaysia. The Islamic capital market operates in mirror with convention capital market in expending, deepening and broadening Malaysia financial system. Malaysia is one of the REIT markets that value both the Islamic and conventional practices, such flexibility makes the attract not only to the local investor but also Islamic investors and foreign investor. The major source that generates income for REIT is the rental of the commercial real estate invested and hold as portfolio by the REIT management company. Furthermore, Malaysia REIT is known to be defensive stocks which consist of cyclic income producing assets that has some potential of asset appreciation. On the other hand, it witnessed by the moderation of Malaysia government bond yields created a lower pressure on the REIT stock price and analyst’s report highlighted the uncertainties on global crude oil prices and inflation is main concerned to REIT investors. In addition, the revision of 2019 tax system in Malaysia furnished a long run affected the dividend payout and volatility of REIT stock price. Therefore, this impact on the REIT stock liquidity and trading volume experiencing anil liquid trading. Therefore, the impact of external forces towards the mirror of two type of Malaysia REITs is significant to the investors, policy makers and government to outline the short-run relationship and facilitate future growth. The Vector auto regression model, granger causality and variance decomposition employed in this study to analyze the mirror of two types Malaysia REIT stock return. The empirical finding shows that the variability of dividend yield is vital explanatory variables to explain the both type of REIT stock return in Malaysia followed by interest rate for Islamic REIT stock return. The mirror of conventional REIT further implicated that trading volume and global crude oil price are useful to forecasting the changes in the stock return. Nutshell, this study provides a discussion of Malaysia REIT stock return behavior and it should be given necessary attention by researchers in ensuring the newly develop Islamic REIT are competitive and stability as the conventional REIT.

scholarly journals Predicting Stock Return of UAE Listed Companies Using Financial Ratios

2019 ◽  
Vol 8 (2) ◽  
pp. 214
Author(s):  
Arindam Banerjee
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Share Price ◽  
Financial Ratios ◽  
P Value ◽  
Dividend Yield ◽  
Value Analysis ◽  
Return On Equity ◽  
Equity Ratio ◽  
The Impact

Over the past few decades, numerous research across the globe has been conducted to examine the impact of firm performance on its stock return. The findings of these studies have been varied. In spite of the long standing research in this area, several attempt towards exploring this relationship has led to limited success owing largely to the existence of volatility across different stock markets. The variance in the volatility in these markets make it extremely difficult to obtain a uniform measure. A volatile stock market makes it difficult for the accounting and financial variables to accurately predict the stock returns (Feris & Erin, 2018).  The primary aim of this paper is aimed to investigate whether financial ratios can be used as a predictor of stock returns in the context of United Arab Emirates (UAE). The sample of the study includes thirty companies from the Dubai Financial Market (DFM) and Abu Dhabi stock exchange (ADX). Data is collected for the period of 2017. This research comprises of five independent variables namely, Earning Per Share ratio (EPS), Price Earning ratio (PE), Return on Equity ratio (ROE), Dividend Yield ratio (DY) and Debt Equity ratio (DE) and stock return is taken as the dependent variable. The study examines which among the given ratios can better predict stock returns both in the short run and the long run. The analysis is based on the regression analysis and correlation matrix. The results of correlation test revealed less multicollinearity between the variables and the regression results showed that Dividend Yield and the Return on Equity are statistically significant to predict the stock returns. However, Earning Per Share, Price Earning and Debt Equity could not predict the stock returns and thus can be safely considered as statistically insignificant. The t-stats test and p-value analysis were key indicators for arriving at the conclusion. The study can significantly benefit investors who can examine closely the dividend yield and return on equity while selecting an optimal portfolio. 

scholarly journals Does Sustainability Engagement Affect Stock Return Volatility? Evidence from the Chinese Financial Market

2018 ◽  
Vol 10 (10) ◽  
pp. 3361 ◽  
Author(s):  
Junru Zhang ◽  
Hadrian Djajadikerta ◽  
Zhaoyong Zhang
Keyword(s):  
Stock Returns ◽  
Portfolio Management ◽  
Stock Return ◽  
Return Volatility ◽  
Chinese Stock Market ◽  
Stock Return Volatility ◽  
News Release ◽  
Volatility Persistence ◽  
Google Search ◽  
The Impact

This paper examines the impact of firms’ sustainability engagement on their stock returns and volatility by employing the EGARCH and FIGARCH models using data from the major financial firms listed in the Chinese stock market. We find evidence of a positive association between sustainability engagement and stock returns, suggesting firms’ sustainability news release in favour of the market. Although volatility persistence can largely be explained by news flows, the results show that sustainability news release has the significant and largest drop in volatility persistence, followed by popularity in Google search engine and the general news. Sustainability news release is found to affect positively stock return volatility. We also find evidence that market expectation can be driven by the dominant social paradigm when sustainability is included. These findings have important implications for market efficiency and effective portfolio management decisions.

Can Earnings Innovations Explain The Inverse Relationship Between Unanticipated Inflation And Stock Returns?

2011 ◽  
Vol 9 (2) ◽  
pp. 10 ◽  
Author(s):  
Jon A. Hooks
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Inverse Relationship ◽  
Explanatory Power ◽  
Earnings Forecast ◽  
Capitalization Rate ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Unanticipated Inflation

Hooks (1991) argues that the explanatory power of unanticipated inflation in stock return models appears to result from the relationship of unanticipated inflation with the earnings capitalization rate and not the impact inflation has on the level or growth rate of earnings. Here we extend this line of investigation by examining the relationship between unanticipated inflation and the earnings innovation extracted from a univariate earnings forecast. We show that unanticipated inflation has no significant relationship with innovations in conventional earnings. However, we find that unanticipated inflation has a significant positive relationship with the magnitude of the earnings innovation during the 1955-85 period when earnings are adjusted to account for the effects of inflation on firms assets and liabilities.

scholarly journals Abnormal Return, Market Reaction around Rating Announcement in Tunisian Stock Market

2016 ◽  
Vol 8 (7) ◽  
pp. 322
Author(s):  
Wissem Daadaa
Keyword(s):  
Stock Price ◽  
Abnormal Return ◽  
Stock Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Price Change ◽  
Study Methodology ◽  
Book To Market Ratio ◽  
The Impact ◽  
Event Study Methodology

This paper tests the market reaction and the stock price change around rating announcements in Tunisian stock exchange using the event study methodology. We examine the impact of the change rating announcement on stock return firms from 2006 to 2010. The results show that only the negative rating with downgrades note which is associated to negative abnormal return. The market does not seem to be interested upgrades rating on the Tunisian market. The negative reaction of the market can be explained by leverage change, Book to Market ratio and the level of the rating fall.

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