scholarly journals THE IMPACT OF STOCK PRICE VOLATILITY ON THE PERFORMANCE OF THE NIGERIAN STOCK MARKET FOR THE PERIOD 1990 TO 2011

2015 ◽  
Vol 3 (4) ◽  
Author(s):  
Ojong M. Cornelius ◽  
Anthony Ogar ◽  
CHRIS O. UDOKA
Keyword(s):  
Stock Market ◽  
Stock Price ◽  
Price Volatility ◽  
Stock Price Volatility ◽  
The Impact

scholarly journals The Task Force Report: The Reasoning Behind the Recommendations

1988 ◽  
Vol 2 (3) ◽  
pp. 3-23 ◽  
Author(s):  
Bruce Greenwald ◽  
Jeremy Stein
Keyword(s):  
Stock Market ◽  
Stock Price ◽  
Task Force ◽  
Price Volatility ◽  
Market Mechanisms ◽  
Task Force Report ◽  
Stock Market Crash ◽  
Stock Price Volatility ◽  
Princeton University

This paper was prepared for the Symposium on the [October 1987] Stock Market Crash, held February 8, 1988, at Princeton University. The article provides a framework for thinking about the recommendations made by the Presidential Task Force on Market Mechanisms. Three conclusions can be drawn from the Task Force's findings: First, the proper focus of analysis of the events of the October crash should be on “market mechanisms” rather than on fundamental imbalances in the economy as a whole. Second, the instability evident in the events of October 1987 was not the inexorable limit of a steadily increasing level of day-to-day stock price volatility. Third, under the sorts of conditions that prevailed on late Monday and Tuesday, an orderly halt to trading (and subsequent orderly reopening) would have been preferable to what actually took place. We describe how the data collected by the Task Force leads us to these three broad conclusions.

Dividend policy and stock price volatility of industrial products firms in Malaysia

2018 ◽  
Vol 13 (1) ◽  
pp. 203-217 ◽  
Author(s):  
Rozaimah Zainudin ◽  
Nurul Shahnaz Mahdzan ◽  
Chee Hong Yet
Keyword(s):  
Stock Price ◽  
Dividend Policy ◽  
Price Volatility ◽  
Industrial Products ◽  
Stock Price Volatility ◽  
Dividend Payout ◽  
Content Type ◽  
Crisis Period ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to analyse the relationship between stock price volatility (SPV) and dividend policy of industrial products firms listed on Bursa Malaysia. Design/methodology/approach The sample comprises 166 industrial products public-listed firms covering a time span from year 2003 to 2012. Using Baskin’s framework, firm’s SPV is related to dividend payout, controlling for earnings volatility, firm size, leverage and growth of assets. Further, the impact of the global financial crisis on the relationship between SPV and the tested variables is examined. Findings Earning volatility significantly explains SPV of industrial product firms during the crisis period, while dividend payout ratio (PR) predominantly influences volatility during pre- and post-crisis sub-periods. The empirical results indicate that dividend policy is a strong predictor of SPV of industrial products firms in Malaysia, particularly during the post-crisis period. Originality/value The paper explores the firm’s SPV and dividend policy for a new set of data focussing on industrial products firms listed on the Malaysian Stock Exchange.

scholarly journals Interaction between Industrial Policy and Stock Price Volatility：Evidence from China’s Power Market Reform

2018 ◽  
Author(s):  
Ye Fan ◽  
Zhicheng Zhang ◽  
Xiaoli Zhao ◽  
Haitao Yin
Keyword(s):  
Industrial Policy ◽  
Stock Prices ◽  
Stock Price ◽  
Price Volatility ◽  
Power Market ◽  
Green Energy ◽  
Market Reform ◽  
Stock Price Volatility ◽  
Price Fluctuations ◽  
The Impact

China combines green energy and industrial policy in its power market reform with various policy initiatives, including price support scheme for electricity from renewable sources and subsidies in the push for broader use of greener energy. This study focuses on the impacts of power market reform on the stock price volatility of listed power companies: 1) we use the Iterative Cumulative Sums of Squares (ICSS) algorithm to identify structural break points in stock prices; 2) we analyze the characteristics of stock price volatility based on the GARCH model; 3) we report the impact of power regulation on stock price fluctuations based on the Autoregressive Distributed Lag (ARDL) model. The result suggests three structural breaks in China’s power stock price volatility were related to the promulgation of power market reform policies. We find that industrial policies promote the reduction of power stock price fluctuations and its impact on power stock price volatility is consistent in the long run. However, our study also indicates the recent policies related to renewable energy do not have a very significant impact on the power stock market.

Sign in / Sign up

Export Citation Format

Share Document