Capital Markets and Crypto Markets: Trends and Behavior

2019 ◽  
Author(s):  
Алексей Михайлов ◽  
Aleksey Mihaylov
Keyword(s):  
Financial Markets ◽  
Capital Market ◽  
Asset Prices ◽  
Spillover Effect ◽  
Influential Factors ◽  
Practical Significance ◽  
Long Term Memory ◽  
Financial Assets ◽  
Financial Investment ◽  
Factors Influencing

The book presents the patterns of historical evolution of financial theories of asset prices (increasing subjectivity in the evaluation of financial risks) and models for predicting volatility of asset prices in the financial markets (accounting for structural shifts in the market). It collected the rich evidence of high accuracy and reliability of long-term memory models for predicting price and volatility of different classes of financial assets. The book includes a theoretical basis for the formation of the fair market value of digital financial assets as a new segment of the global capital market. The book examines the factors influencing the dynamics of the bitcoin price. The answer to the question is whether there is a correlation with energy price and financial index S&P 500 because of the presence of the effect of volatility flow characteristic of financial markets. It is proved that the volatility of bitcoin price has a significant correlation with the volatility of financial indices such as S&P 500 due to the presence of the effect of volatility overflow (spillover effect) characteristic of financial markets. But there is no clear relationship between the search queries in the Google system and the dynamics of the bitcoin price. Bitcoin prices are moving primarily under the influence of investor interest in cryptocurrency as an alternative save asset. The practical significance of the work lies in the structuring of existing knowledge about the factors influencing the price of bitcoin. These methods allowed to determine the most influential factors explaining the dynamics of bitcoin. The price changes in the period from 2009 to 2018 was due to the increase in the usefulness of bitcoin as a tool for settlements, which was facilitated by the loss of confidence in national currencies, uncertainty about the Brexit and new energy sources price decreasing. The monograph contains the necessary structural sections characterizing the capital market and crypto assets at the present stage. The monograph can be used as the main or additional literature in the study of such disciplines like investment banking, corporate finance, international practice of valuation, behavioral finance, derivative financial instruments, financial investment management, financial markets and finance. The monograph can be used effectively by teachers in various areas.

Fractal Properties of Financial Assets and Forcasting Financial Crisis

2018 ◽  
pp. 23-41 ◽  
Author(s):  
Inna Nekrasova ◽  
Oxana Karnaukhova ◽  
Oleg Sviridov
Keyword(s):  
Fractal Dimension ◽  
Financial Markets ◽  
Future Development ◽  
Small Time ◽  
Practical Significance ◽  
Financial Assets ◽  
Time Intervals ◽  
Price Fluctuations ◽  
Fractal Properties ◽  
Fractal Index

The chapter is aimed at identification of criteria to select financial assets for investment; observing price fluctuations at small time intervals (up to one week) as possible predictors of the future of a significant increase in the price fluctuations amplitude; determining a fractal dimension of the financial markets on the basis of R/S-analysis; constructing a fractal index indicator to identify a bifurcation point, which gives birth to a possibility of crisis phenomena in economy. Therefore, the practical significance of the chapter lies in the idea of equipping academics and practitioners with new methods and tools for analysis and forecasting future development and dynamics of the financial markets.

Financial markets as commensurating machines

2019 ◽  
Vol 58 (4) ◽  
pp. 539-565
Author(s):  
Barbara Kuchler
Keyword(s):  
Financial Markets ◽  
Capital Markets ◽  
Capital Market ◽  
Capital Flows ◽  
Financial System ◽  
Financial Assets ◽  
Financial Instruments ◽  
Black Scholes ◽  
Derivatives Markets

Ever since the crisis of 2008, the dynamism and self-referentiality of financial markets have puzzled observers. This article argues that this dynamism is the product of a long process of commensuration, by which ever more heterogeneous financial assets and financial instruments have come to be compared with, substituted for, and valuated relatively to one another, and have thereby been condensed into a highly interconnected financial system. This trajectory can be found both in the long-term historical emergence of financial markets from ancient origins and in the more recent transformations of the financial system since the 1970s, including (i) the rise of derivatives markets, and (ii) the rise of capital markets as against bank-intermediated capital flows. The rise of derivatives markets was triggered by the commensuration of basic securities (such as stock, bond) and derivatives (such as options, futures), established by the Black-Scholes-Merton theory of option pricing. The rise of capital markets was rooted in the commensuration – and hence, competition and substitution – of bank products (such as loans, deposits) and non-bank products (capital market securities).

Plasticity and Memory in the Financial Markets

2016 ◽  
pp. 163-182 ◽  
Author(s):  
Oxana Karnaukhova ◽  
Inna Nekrasova
Keyword(s):  
Financial Markets ◽  
Market Structure ◽  
Fractal Analysis ◽  
Efficient Market Hypothesis ◽  
Long Term Memory ◽  
Financial Assets ◽  
Price Movement ◽  
Nonlinear Methods ◽  
Term Memory

The chapter questions the applicability of the Efficient Market Hypothesis (EMH) for analysis of financial markets. The overall goal is to analyze methods of forecasting future prices of financial assets based on the concept of the fractal market structure and long-term memory of past prices. Fractals in the financial markets are interpreted either as investors with different investment horizons or as a configuration of the price movement on chart. This chapter examines the fractal structure of financial markets, nonlinear methods of analysis of financial markets, plasticity and long-term memory to long-term investment horizons of financial markets, fractal analysis of financial markets, new approaches to forecast prices of financial assets, which eliminate shortcomings of the linear paradigm.

Determinants of Trading Decision: An Experiential Examination

GIS Business ◽  
2018 ◽  
Vol 13 (1) ◽  
pp. 1-9
Author(s):  
Gunjan Sharma ◽  
Tarika Singh ◽  
Suvijna Awasthi
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Capital Mobility ◽  
Influential Factors ◽  
Herd Behavior ◽  
Human Beings ◽  
The Past ◽  
The Government ◽  
Indian Stock Market

In the midst of increasing globalization, the past two decades have observed huge inflow of outside capital in the shape of direct and portfolio investment. The increase in capital mobility is due to contact between the different economies across the globe. The growing liberalization in the capital market leads to the growth of various financial products and services. Over the past decade, the Indian capital market has witnessed numerous changes in the direction of developing the capital markets more robust. With the growing Indian economy, the larger inflow of funds has been fetched into the capital markets. The government is continuously working on investor’s education in order to increase retail participation in the Indian stock market. The habits of the risk-averse middle class have been changing where these investors started participating in the Indian stock market. It is an explored fact that human beings are irrational and considering this fact becomes imperative to investigate factors that influence the trading decisions. In this research, ‘an attempt has been made to investigate various factors that affect the individual trading decision’. The data has been collected from various stockbroking firms and from clients of those stockbroking firms their opinions were recorded by means of a questionnaire. Data collected through the structured questionnaire, 33 questions were prepared which was given to the 330 respondents on the basis of convenience sampling out of which 220 individuals filled questionnaire, the total of 200 questionnaires was included in the study after eliminating the incomplete questionnaire. Various factors are being explored from the literature and then with the help of factor analysis some of the most influential factors have been explored. Factors like overconfidence, optimism, cognitive bias, herd behavior, advisory effect, and idealism are the factors which influenced the trading decision of the investors the most. Such kind of a study is contributing in the area of behavioral finance as a trading decision is an important aspect while investing in the stock market. And this kind of study would be helping and assisting financial advisors to strategies for their clients in making the right allocation and also the policy maker and market regulators to come up with better reforms for the Indian stock markets.

Faktor-Faktor yang Berpengaruh dalam Mendapatkan Pekerjaan bagi Lulusan Statistika IPB dengan Menggunakan Metode CHAID

2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Aulia Dwi Oktavia ◽  
Aam Alamudi ◽  
Budi Susetyo
Keyword(s):  
College Graduates ◽  
Influential Factors ◽  
Classification Model ◽  
Statistical Software ◽  
Waiting Period ◽  
Level Of Education ◽  
Economic Problems ◽  
Factors Influencing

Unemployment is one of the economic problems in Indonesia. Judging from the level of education that was completed there were unemployment from the level of college graduates. This encourages the level of competition in getting jobs to be more stringent, so that college graduates (bachelor of Statistics in IPB) must have the preparation of various factors to maintain the quality of their graduates. The quality of college graduates can be seen from the length of time waiting to get a job. This study aims to determine the influential factors in getting a job for graduates of the IPB Statistics degree, so that the CHAID method can be used in this study. The results of CHAID's analysis in this study in the form of tree diagrams using α = 10% explained that the factors influencing the waiting period variables were sex, internship, and the ability to master statistical software, where the accuracy value generated by the classification model was 79.3 %.

scholarly journals Valuing Peace: The Effects of Financial Market Exposure on Votes and Political Attitudes

Econometrica ◽  
2019 ◽  
Vol 87 (5) ◽  
pp. 1561-1588 ◽  
Author(s):  
Saumitra Jha ◽  
Moses Shayo
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Political Attitudes ◽  
Peace Process ◽  
Superior Performance ◽  
Financial Assets ◽  
Material Incentive ◽  
Nonfinancial Information ◽  
Political Messages ◽  
Economic Risks

Can participation in financial markets lead individuals to reevaluate the costs of conflict, change their political attitudes, and even their votes? Prior to the 2015 Israeli elections, we randomly assigned Palestinian and Israeli financial assets to likely voters and incentivized them to actively trade for up to 7 weeks. No political messages or nonfinancial information were included. The treatment systematically shifted vote choices toward parties more supportive of the peace process. This effect is not due to a direct material incentive to vote a particular way. Rather, the treatment reduces opposition to concessions for peace and changes awareness of the broader economic risks of conflict. While participants who were assigned Palestinian assets are more likely to associate their assets' performance with peace, they are less engaged in the experiment. Combined with the superior performance of Israeli stocks during the study period, the ultimate effects of Israeli and Palestinian assets are similar.

scholarly journals Rapid Cycle Implementation and Retrospective Evaluation of a SARS-CoV-2 Checklist in Labor and Delivery

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Liana Zucco ◽  
Nadav Levy ◽  
Yunping Li ◽  
Toni Golen ◽  
Scott A. Shainker ◽  
...  
Keyword(s):  
Perioperative Care ◽  
Rapid Change ◽  
Influential Factors ◽  
Learning Climate ◽  
Factors Influencing ◽  
Process Implementation ◽  
Implementation Planning ◽  
Group Deliberation ◽  
Inner Setting ◽  
Communication Culture

Abstract Background Preparedness efforts for a COVID-19 outbreak required redesign and implementation of a perioperative workflow for the management of obstetric patients. In this report we describe factors which influenced rapid cycle implementation of a novel comprehensive checklist for the perioperative care of the COVID-19 parturient. Methods Within our labour and delivery unit, implementation of a novel checklist for the COVID-19 parturient requiring perioperative care was accomplished through rapid cycling, debriefing and on-site walkthroughs. Post-implementation, consistent use of the checklist was reported for all obstetric COVID-19 perioperative cases (100% workflow checklist utilization). Retrospective analysis of the factors influencing implementation was performed using a group deliberation approach, mapped against the Consolidated Framework for Implementation Research (CFIR). Results Analysis of factors influencing implementation using CFIR revealed domains of process implementation and innovation characteristics as overwhelming facilitators for success. Constructs within the outer setting, inner setting, and characteristic of individuals (external pressures, baseline culture, and personal attributes) were perceived to act as early barriers. Constructs such as communication culture and learning climate, shifted in influence over time. Conclusion We describe the influential factors of implementing a novel comprehensive obstetric workflow for care of the COVID-19 perioperative parturient during the first surge of the pandemic using the CFIR framework. Early workflow adoption was facilitated primarily by two domains, namely thoughtful innovation design and careful implementation planning in the setting of a long-standing culture of improvement. Factors initially assessed as barriers such as communication, culture and learning climate, transitioned into facilitators once a perceived benefit was experienced by healthcare teams. These results provide important information for the implementation of rapid change during a time of crisis.

scholarly journals Discount, transparency and announcements effects of equity rights offerings: international evidence

2021 ◽  
Author(s):  
Nils-Christian Bobenhausen ◽  
Astrid Juliane Salzmann
Keyword(s):  
Financial Markets ◽  
Information Asymmetry ◽  
Capital Market ◽  
Announcement Effect ◽  
Announcement Effects ◽  
Market Transparency ◽  
International Evidence ◽  
Negative Effect ◽  
Rights Offering ◽  
High Information

AbstractEquity rights offerings and their respective announcement effects have been studied extensively in the literature. Our study expands upon these studies and focuses on those announcement effects and the relation between the discount of an equity rights offering and the announcement effect. Previous theoretical and empirical analyses show that firms can signal their quality via the discount in an equity rights offering and demonstrate a negative relation between the discount and the announcement effect. We argue that this link is only relevant in environments where signalling is possible and necessary. These are financial markets with a particularly low level of capital market transparency, i.e. high information asymmetry. We calculate announcement effects for an international sample of equity rights offerings and show that the negative effect of the discount on announcement effects can only be observed in environments with a low capital market transparency. Hence, our study estimates announcement effects across several different countries and is thus among the first to analyse signalling considerations for equity rights offerings in different transparency environments.

Revisiting the Factors Influencing Teaching Choice Framework: Exploring What Fits with Virtual Teaching

2021 ◽  
pp. 097215092110153
Author(s):  
Sudhir Rana ◽  
Amit Kumar Singh ◽  
Shubham Singhania ◽  
Shubhangi Verma ◽  
Moon Moon Haque
Keyword(s):  
Higher Education ◽  
Technological Development ◽  
Learning Experience ◽  
New Technology ◽  
Business Management ◽  
Teaching Efficacy ◽  
Influential Factors ◽  
Cross Sectional ◽  
Factors Influencing ◽  
Virtual Teaching

The present study revisits the Factors Influencing Teaching Choice (FIT-Choice) framework and explores what motivates business management academicians in teaching virtually. The revisit is based on a quantitative cross-sectional research design using 256 responses collected from in-service business management academicians teaching post-graduate business courses in India, through a structured questionnaire. The exercise of revisiting the FIT-Choice framework in the context of virtual teaching in business management courses led us to find four new variables, that is, task demand and expert career, teaching efficacy, knowledge assimilation and institutional utility value, as well as suggest revising teaching and learning experience, task returns and values. The results reveal that some additional factors motivating business academicians are teaching efficacy, content expertise, learning of new technology, futuristic growth and opportunities, alternative career opportunities and personal branding. The study provides suggestions to the apex bodies, regulators of higher education and institutions to take a call on motivational and influential factors while drafting the job requirements in business schools. Finally, the study emphasizes the importance of infrastructural and technological development required to be achieved by higher education institutions.

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