Notice of Retraction: An empirical study on the impact of the Block Trades on implicit transaction costs in China's stock market

2011 ◽  
Author(s):  
Ling Chunhua ◽  
Gu Jing
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Transaction Costs ◽  
Block Trades ◽  
Implicit Transaction Costs ◽  
The Impact

scholarly journals Impact of FDI and FII on the Indian Stock Market during Recent Recession Period: An Empirical Study

2013 ◽  
Vol 1 (4) ◽  
pp. 475-482
Author(s):  
Arindam Banerjee
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Significant Influence ◽  
Import Substitution ◽  
Social Sector ◽  
Policy Changes ◽  
The World ◽  
Indian Stock Market ◽  
The Impact ◽  
Recession Period

The era 90‘s saw very significant policy changes introduced in the sphere of financial sector, foreign trade, public sector and social sector. The year 1991 witnessed the process of liberalization and globalization that hit the Indian economy and pushed our country to break open the ―Inward Looking‖ policy when the emphasis was accorded to protectionism and import substitution. Since 1991, India has proved to be a key player in the world. Ours country interaction has increased with many economies ties, political harmony, tourism trade and services more significantly in the area of investment. The present study was conducted by me with the aim to understand the impact of FDI and FII on Indian Stock Market (BSE and Nifty) during the recession period. It was found from the study that FDI had a significant influence on the Indian Stock market during recession while FII negatively influenced the Indian Stock Market.

HOW INTELLECTUAL CAPITAL AFFECTS A FIRM’S PERFORMANCE?

2012 ◽  
Vol 02 (08) ◽  
pp. 24-31
Author(s):  
Chokri ZEHRI ◽  
Asma ABDELBAKI ◽  
Najla BOUABDELLAH
Keyword(s):  
Firm Performance ◽  
Stock Market ◽  
Empirical Study ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Business Performance ◽  
The Impact ◽  
The Relationship

The impact of intellectual capital on firm performance is still poorly defined. In this paper, we try to find the relationship between intellectual capital and business performance from the standpoint of financial performance, the marketplace and economics. We conduct a study of the literature on this subject and we announce our research hypotheses. Our empirical study use a sample of 25 companies listed on the stock market in Tunisia. By using a panel’s data we perform the necessary tests for obtaining robust results. The main objective of this study is to determine an exact impact of intellectual capital on the performance of these companies.

The Impact of Investor Sentiment on Stock Market Liquidity: The Mediating Role of Investor Herding Behavior “An Empirical Study on the Egyptian Stock Exchange”

2021 ◽  
pp. 31-60
Author(s):  
A. H. El-Gayar ◽  
◽  
I. A. El-Hayes ◽  
S. Metawa ◽  
◽  
...  
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Mutual Fund ◽  
Stock Exchange ◽  
Investor Sentiment ◽  
Theoretical Background ◽  
Market Liquidity ◽  
Indirect Impact ◽  
Stock Market Liquidity ◽  
The Impact

Behavioral finance is a recent approach in financial markets that have appeared because of the complexities long faced by the traditional or neoclassical finance theory. This paper investigates the influence of investor sentiment and herding behaviour on stock market liquidity using an empirical study on the Egyptian Stock Market. We examine the direct impact of Egyptian investor sentiment on the Egyptian Stock Market liquidity. As well as the indirect impact of the Egyptian investor sentiment on the Egyptian Stock Market liquidity through the Egyptian investor herding behaviour. Therefore, the major contribution is filling the gap of indirect sentiment-liquidity impact conflict. We use the monthly data of the EGX30 index from January 2004 up to December 2018 for building up investor sentiment index, investor herding behaviour, and stock market liquidity measures. Moreover, we are using two additional types of data (closed-end mutual fund discounts and the equity open-end mutual fund flows) that represent major measures which are used to build up investor sentiment index ranging through the same time-series of the previously mentioned period of this paper. Additionally, we use four control variables for stock market liquidity, namely market volatility, excess market return, term spread, and lag of the dependent variable, considering that the fourth variable is also used for investor herding behaviour. Our result shows that the investor sentiment index has both a direct and indirect impact on stock market liquidity. In addition, regarding event study analysis’ results, there are different signs of the direct and indirect impacts and different correlations between the research variables throughout the four different events that differ completely from the usual signs and correlations of the theoretical background.

scholarly journals The impact of transaction costs in portfolio optimization

2019 ◽  
Vol 24 (48) ◽  
pp. 288-311
Author(s):  
Luc Chavalle ◽  
Luis Chavez-Bedoya
Keyword(s):  
Stock Market ◽  
Transaction Costs ◽  
Portfolio Optimization ◽  
Content Type ◽  
Holding Period ◽  
Retail Investors ◽  
Retail Investor ◽  
The Usa ◽  
The Cost ◽  
The Impact

Purpose This paper aims to analyze the impact of transaction costs in portfolio optimization in Peru. The study aims to compare the transaction costs structure applied in Peru with respect to the ones applied in the USA, and over a few dimensions. Design/methodology/approach The paper opted for an empirical study analyzing the cost of rebalancing portfolios over a set period and dimensions. Stocks have been carefully selected using Bloomberg terminals, and portfolio designed then rebalanced using VBA programming. Over a few dimensions as type and number of stocks, holding period and trading strategy, the behavior of these different transaction costs has been compared. The analysis has been done for four different portfolios. Findings The paper provides empirical insights about how a retail investor actively trading in Peru can pay up to 14 times more in transaction costs than trading the same portfolio in the USA. These comparatively high transaction costs prevent retail investors to trade in the Peruvian stock market while fueling illiquidity to this market. Research limitations/implications The paper deals with a limited amount of Peruvian stocks. Researchers are encouraged to test the proposition further, including other dimensions. Practical implications The paper includes implications for any retail investor that wants to invest in Peruvian stocks, giving an insight about how expensive it is to actively rebalance a portfolio in Peru. Originality/value This paper fulfils an identified need to study how much it costs to actively invest on the stock market in Peru.

scholarly journals The Impact of China-Pak Economic Corridor (CPEC) on Pakistan Stock Exchange (PSX)

2020 ◽  
Vol 6 (4) ◽  
pp. 1307-1317
Author(s):  
Muhammad Mudasar Ghafoor ◽  
Zahid Hussain ◽  
Muhammad Yasir Saeed
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Event Study ◽  
Design Methodology ◽  
Stock Exchange ◽  
Chinese Economy ◽  
Market Returns ◽  
Stock Market Returns ◽  
The Impact ◽  
Positive Effect

Purpose: The study aims to find out the impact of CPEC project on volatility and growth of Pakistan stock exchange PSX-100. The CPEC is a significant subset and southern corridor of (SREB) which consists of three economic corridors (Rana, 2015). The investment in CPEC projects not only accelerates Pakistan and Chinese economy but also anticipated to have significant effects on Pakistan stock exchange PSX. Design/Methodology/Approach: The methodology of event study proposed by Bremer and Sweeney (1991). The methodology of Cox and Peterson (1994) used to identify the effects of events related to CPEC projects and stock market returns. Findings: The results indicated that the volatility of PSX-100 has low in post CPEC as compared to pre CPEC era showing a positive effect of CPEC on PSX in the form of stable PSX 100 returns in post CPEC announcement era. Implications/Originality/Value: The results of this empirical study provide important implications to overseas investors, corporations and regulators.

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