scholarly journals The effect of dynamic relationship between domestic market and world market on stock returns volatility

2019 ◽  
Vol 255 ◽  
pp. 012052
Author(s):  
Najmudin ◽  
R Kurniasih ◽  
Sulistyandari ◽  
D P Jati
Keyword(s):  
Stock Returns ◽  
World Market ◽  
Domestic Market ◽  
Dynamic Relationship

Seasonality in the Cross Section of Stock Returns: The International Evidence

2010 ◽  
Vol 45 (5) ◽  
pp. 1133-1160 ◽  
Author(s):  
Steven L. Heston ◽  
Ronnie Sadka
Keyword(s):  
Stock Returns ◽  
Cross Section ◽  
Domestic Market ◽  
Trading Strategies ◽  
Global Risk ◽  
Seasonal Predictability ◽  
International Evidence ◽  
Local Risk ◽  
The Cross ◽  
Highly Correlated

AbstractThis paper studies seasonal predictability in the cross section of international stock returns. Stocks that outperform the domestic market in a particular month continue to outperform the domestic market in that same calendar month for up to 5 years. The pattern appears in Canada, Japan, and 12 European countries. Global trading strategies based on seasonal predictability outperform similar nonseasonal strategies by over 1% per month. Abnormal seasonal returns remain after controlling for size, beta, and value, using global or local risk factors. In addition, the strategies are not highly correlated across countries. This suggests they do not reflect return premiums for systematic global risk.

scholarly journals The dynamic relationship between stock returns and trading volumes in Nepalese stock market

2020 ◽  
Vol 23 (2) ◽  
pp. 161-172
Author(s):  
Prem Lal Adhikari
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Trading Volume ◽  
Time Series Data ◽  
Stock Exchange ◽  
Causal Effect ◽  
Empirical Relationship ◽  
Insurance Companies ◽  
Series Data ◽  
Dynamic Relationship

 In finance, the relationship between stock returns and trading volume has been the subject of extensive research over the past years. The main motivation for these studies is the central role that trading volume plays in the pricing of financial assets when new information comes in. As being interrelated and interdependent subjects, a study regarding the trading volume and stock returns seem to be vital. It is a well-researched area in developed markets. However, very few pieces of literature are available regarding the Nepalese stock market that explores the association between trading volume and stock return. Realizing this fact, this paper aims to examine the empirical relationship between trading volume and stock returns in the Nepalese stock market using time series data. The study sample is comprised of 49 stocks traded on the Nepal Stock Exchange (NEPSE) from mid-July 2011 to mid-July 2018. This study examines the Granger Causality relationship between stock returns and trading volume using the bivariate VAR model used by de Medeiros and Van Doornik (2008). The study found that the overall Nepalese stock market does not have a causal relationship between trading volume and return on the stock. In the case of sector-wise study, there is a unidirectional causality running from trading volume to stock returns in commercial banks and stock returns to trading volume in finance companies, hydropower companies, and insurance companies. There is no indication of any causal effect in the development bank, hotel, and other sectors. This study also finds that there is no evidence of bidirectional causality relationships in any sector of the Nepalese stock market.

scholarly journals NEO-INDUSTRIAL IMPORT SUBSTITUTION STRATEGY IN UKRAINE

2021 ◽  
Vol 139 (5) ◽  
pp. 4-33
Author(s):  
MAZARAKI Anatoliy ◽  
МЕLNYK Tetiana
Keyword(s):  
Foreign Trade ◽  
Industrial Development ◽  
Structural Changes ◽  
Graphical Representation ◽  
Institutional Environment ◽  
Import Substitution ◽  
Theoretical Work ◽  
World Market ◽  
Domestic Market ◽  
Goods And Services

Background. The high level of the country’s dependence on imports of goods and services leads to significant vulnerability of its economy to market fluctuations, adverse price trends in the world market and threatens the competitiveness of domestic production and exports. The analysis of recent research and publications reveals that the problems of import contribution to the process of commodity saturation of Ukraine’s domestic market, structural changes identification, strategic priorities and institutional transformations in the state implementation of import substitution policy need in-depth study. The aim of this paper is to study implementation possibilities of the strategy of neo-industrial import substitution in the economy of Ukraine. Materials and methods. Modern scientific concepts, theoretical work on development and analysis of internal market functioning, statistical data are theoretical and methodological basis of this paper. Methods of statistical analysis, synthesis, grouping and graphical representation of the results were used to achieve the research purpose and implementation of the tasks. Results. The concept of neo-industrial import substitution is considered. The present state of Ukraine’s domestic market development and foreign trade is analyzed, the determinants of import dependence of Ukraine’s economy are defined. Thus, problematic issues of institutional support for the implementation of neo-industrial import substitution strategy in Ukraine are outlined, the proposals for its realization are made. Conclusion. Thus, we believe thatit is necessary to overcome barriers (organizational, institutional, technological) that hinder the implementation of neo-industrial economy model for realization of neo-industrial import substitution strategy in Ukraine. It provides performance of a set of conditions: the formation of a favorable institutional regime for the development of import-substituting productions, purposeful outing to the institutional trajectory of neo-industrial development, the formation of necessary institutional environment with general economic program development of neo-industrial import substitution. Keywords: foreign trade, import, domestic market, import substitution, import dependence, neo-industrial import substitution, structure of import use.

Dry Mixes for Self-Leveling Floors Based on Composite Binder

2019 ◽  
Vol 802 ◽  
pp. 101-112
Author(s):  
Ruslan Aharonovich Abramov ◽  
Maksim Sergeevich Sokolov ◽  
Meir Nisonovich Surilov ◽  
Svetlana Vyacheslavovna Derevianko
Keyword(s):  
Building Materials ◽  
World Market ◽  
Domestic Market ◽  
Composite Binder ◽  
Russian Market ◽  
Consumption Structure ◽  
Low Level ◽  
The World ◽  
First Time ◽  
Different Levels

Currently, dry mixes (CDM) play an important role in the development of the world market of building materials. The industry of construction and finishing materials in Russia is quite young: the first time the dry building mixes appeared on the Russian market in the late 1980s, the consumption structure of CDM in the domestic market the main share (70%) are in the adhesive and plasters. The use of other compositions, in particular mixtures for self – leveling floors, does not have significant volumes and often the reason for this is the lack of design solutions and the low level of qualification of specialists at different levels from workers to designers who do not own CDM technologies.

scholarly journals Economic analysis of the factors influencing the supply and demand of raspberry

2021 ◽  
Vol 68 (4) ◽  
pp. 1077-1087
Author(s):  
Nemanja Pantić ◽  
Drago Cvijanović ◽  
Nedžad Imamović
Keyword(s):  
Supply And Demand ◽  
World Market ◽  
Domestic Market ◽  
Regression Equations ◽  
Production And Consumption ◽  
Comparative Advantages ◽  
Balance Analysis ◽  
The Subject ◽  
The Republic ◽  
Relevant Factors

The subject of this research is the analysis of supply and demand of raspberries on the domestic market in order to performe a balance analysis of products and examine the partial influence of relevant factors on supply and demand. The production and consumption of raspberries in Serbia in the period from 2010-2019 is very dynamic. Raspberry production in the Republic of Serbia has significant comparative advantages compared to production in most other countries. Serbia is considered one of the largest producers of raspberries, but still, regardless of that, its comparative advantages have not been fully valorized and used. The results of the balance analysis of raspberry production and consumption indicate the existence of a surplus and potential for export. The analysis of ANOVA variances established a high correlation dependence and pointed out the need to improve competitiveness in the production of raspberries and final products in order to meet the domestic market and exports to the world market. The obtained results enabled the formulation of regression equations of both the function of raspberry supply and its demand, which can be used to predict these values in the future.

scholarly journals VOLATILITY TRANSMISSION OF BARLEY WORLD PRICE TO THE DOMESTIC MARKET OF IRAN AND THE ROLE OF IRAN MERCANTILE EXCHANGE; AN APPLICATION OF BEKK MODEL

New Medit ◽  
2019 ◽  
Vol 18 (3) ◽  
pp. 97-108
Author(s):  
Mahmoud Daneshvar Kakhki ◽  
Mohammad Mehdi Farsi ◽  
Behzad Fakari ◽  
Moustafa Kojori
Keyword(s):  
Free Market ◽  
World Market ◽  
Global Market ◽  
Domestic Market ◽  
Volatility Transmission ◽  
World Price ◽  
Shock Transmission ◽  
Essential Input ◽  
The Garch Model

Barley is one of the main crops after wheat and rice. The importance of this product increases because it is an essential input in the livestock and poultry industries. The prices of input, which used in the livestock and poultry industries, faced fluctuations in recent years. Thus, in this study, the price fluctuation of barley in the Iran Mercantile Exchange, Iran domestic free market and World Market compared by applying the GARCH model. This model applied to monthly prices of barley from March 2009 to February 2017. Also, the volatility and shock transmission of barley price between these three markets analyzed by the BEKK model. The results showed that the price fluctuations of the domestic market are more than the global market. In addition, the shocks and volatilities of the world and Iran free market transmitted to the Iran Mercantile Exchange. Thus, the use of new financial instruments in the domestic free market is necessary.

scholarly journals A Comparison of World and Domestic Price Volatilities of Oilseeds: The Ethiopian Case

2015 ◽  
Vol 7 (2(J)) ◽  
pp. 145-161
Author(s):  
Zerihun G. Kelbore
Keyword(s):  
Poverty Reduction ◽  
Time Series Data ◽  
Market Price ◽  
Price Volatility ◽  
World Market ◽  
Domestic Market ◽  
Series Data ◽  
The World ◽  
Price Risks ◽  
The Government

This study investigates and compares oilseeds price volatilities in the world market and the Ethiopian market. It uses a monthly time series data on oilseeds from February 1999 to December 2012; and analyses price volatilities using unconditional method (standard deviation) and conditional method (GARCH). The results indicate that oilseeds prices are more volatile, but not persistent, in the domestic market than the world market. The magnitude of the influence of the news about past volatility (innovations) is higher in the domestic market for Rapeseed and in the World market for Linseed. However, in both markets there is a problem of volatility clustering. The study also identified that due to the financial crisis the world market price volatilities surpassed and/or paralleled the higher domestic oilseeds price volatilities. The higher domestic oilseeds price volatility may imply that the price risks are high in the domestic oilseeds market. As extreme price volatility influences farmers` production decision, they may opt to other less risky, low-value and less profitable crop varieties. The implications of such retreat is that it may keep the farmers in the traditional farming and impede their transformation to the high value crops, and results in lower income hindering the poverty reduction efforts of the government. This is more important to consider today than was before, because measures undertaken to reduce poverty must bring sustainable change in the lives of the rural poor. For this reason, agricultural policies that enable farmers cope with price risks and enhance their productivity are crucial.

scholarly journals Import substitution strategies in the global economy: lessons for Russia

2019 ◽  
Vol 80 (4) ◽  
pp. 398-402
Author(s):  
A. Sh. Subhonberdiev ◽  
A. N. Shevchenko
Keyword(s):  
Latin American ◽  
National Economy ◽  
Global Economy ◽  
Structural Changes ◽  
Import Substitution ◽  
World Market ◽  
Domestic Market ◽  
Point Of View ◽  
Industrial Countries ◽  
The World

The world experience of implementation of import substitution strategy is being studied; reveals the essence of the main models; Identify those aspects that will prove useful in modern Russian conditions. The development of import-substituting industries according to the intra-oriented strategy is carried out in order to develop exclusively the domestic market of the country. From the point of view of the national economy, this strategy leads to the preservation of the backlog, primarily in the field of technological and scientific-technical cooperation and prevents the emergence of industries in the economy-locomotives that can ensure the world level of progress. The use of this model of import substitution has become a determining trend in the development of the so-called new industrial countries (NIS).The intra-oriented strategy of import substitution plays a stimulating role in creating a diversified national economy, expanding the production of important goods on its own. The conceptual basis for the implementation of this strategy was the theory of the peripheral economy, developed by a group of Latin American scientists headed by the Executive Secretary of the UN Economic Commission. According to this concept, the demand for products. The use of the designated model of import substitution has become a trend of development of the so-called new industrial countries of Latin America. Another option for the implementation of import substitution policy can be a strategy of foreign-oriented import substitution, which is characterized by the achievement of structural changes in the economy through the replacement of imported components and parts in export products. Implementation of import-substituting policy, according to this model, involves the development of production of national goods on a sufficiently large domestic market, followed by their promotion on the world market.

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