scholarly journals INDIAN RETAIL INVESTORS AND INITIAL PUBLIC OFFERS: PRE AND POST COVID ANALYSIS

2021 ◽  
Vol 9 (2) ◽  
pp. 345-352
Author(s):  
Sreyansh Surana, Et. al.
Keyword(s):  
Google Trends ◽  
Short Term ◽  
Going Public ◽  
Search Results ◽  
Retail Investors ◽  
Grey Market ◽  
Retail Investor ◽  
Two Phases ◽  
Tail Events ◽  
Market Premium

Going public is one of the most popular forms of raising funds for expansion and growth of business. Since the liberalisation of economy in 1991, more than 1500 companies have listed themselves on the exchange. And the Indian stock markets keep expanding with increasing number of public offers in both mainstream and SME category. This paper compares the IPOs of Indian markets in broadly two phases-pre covid and post covid. A sample of 242 listings across eleven years from 2010-2020 are considered for the study. A comparison based on details of listing, listing gains etc reveal a more active retail investor segment. Overoptimism and urge to synthesise short term gains contribute to such gains. This is further backed by analysis of search results in the Indian region using google trends. Tail events such as covid-19 alter the way Indian investors behave and invest in IPOs and make their investments more on basis of speculative measures such as grey market premium, than actual fundamentals of the issue under consideration.                       

scholarly journals Fractional differencing in stock market price and online presence of global tourist corporations

2019 ◽  
Vol 24 (48) ◽  
pp. 194-204 ◽  
Author(s):  
Francisco Flores-Muñoz ◽  
Alberto Javier Báez-García ◽  
Josué Gutiérrez-Barroso
Keyword(s):  
Time Series ◽  
Stock Market ◽  
Market Price ◽  
Google Trends ◽  
Data Sets ◽  
Market Prices ◽  
Content Type ◽  
Search Results ◽  
Online Presence ◽  
Fractional Differencing

Purpose This work aims to explore the behavior of stock market prices according to the autoregressive fractional differencing integrated moving average model. This behavior will be compared with a measure of online presence, search engine results as measured by Google Trends. Design/methodology/approach The study sample is comprised by the companies listed at the STOXX® Global 3000 Travel and Leisure. Google Finance and Yahoo Finance, along with Google Trends, were used, respectively, to obtain the data of stock prices and search results, for a period of five years (October 2012 to October 2017). To guarantee certain comparability between the two data sets, weekly observations were collected, with a total figure of 118 firms, two time series each (price and search results), around 61,000 observations. Findings Relationships between the two data sets are explored, with theoretical implications for the fields of economics, finance and management. Tourist corporations were analyzed owing to their growing economic impact. The estimations are initially consistent with long memory; so, they suggest that both stock market prices and online search trends deserve further exploration for modeling and forecasting. Significant differences owing to country and sector effects are also shown. Originality/value This research contributes in two different ways: it demonstrate the potential of a new tool for the analysis of relevant time series to monitor the behavior of firms and markets, and it suggests several theoretical pathways for further research in the specific topics of asymmetry of information and corporate transparency, proposing pertinent bridges between the two fields.

What is your desire? Retail investor preferences in structured products

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rainer Baule ◽  
Patrick Muenchhalfen
Keyword(s):  
Design Methodology ◽  
Recent Literature ◽  
Product Structure ◽  
Content Type ◽  
Financial Products ◽  
Retail Investors ◽  
Retail Investor ◽  
Retail Products ◽  
Structured Financial Products ◽  
Insight Into

PurposeThe authors evaluate the preferences of retail investors with regard to the investment in structured financial products. The purpose of the paper is an analysis of the relative importance of key product attributes namely the issuing bank, the product structure, the associated costs and the disclosed risk.Design/methodology/approachThe authors conduct a choice-based conjoint analysis, based on an online experiment. Participants judge their preferences for products which are presented by shortened key information documents according to the requirements of EU regulation.FindingsInvestors consider the costs and the product structure to be most important, whereas the issuer and information on risk are of less interest. Their preferences depend on their (self-evaluated) expertise: while inexperienced retail investors concentrate on costs, experienced investors pay more attention to the product structure.Research limitations/implicationsThe study is limited to a subsegment of the market, the discount certificates. For these products, issuing banks gain insight into the attractiveness of their products. Furthermore, the study carries implications for regulators: since investors emphasize the costs in their decisions, an unbiased disclosure of costs should be enforced.Originality/valueWhile the recent literature has studied preferences for the investment in mutual funds, this is the first paper which directly analyzes the drivers of an investment in structured retail products.

Modifying infants’ sensitivity to audiovisual temporal mismatch

2012 ◽  
Vol 25 (0) ◽  
pp. 84-85
Author(s):  
Ferran Pons ◽  
Maria Teixidó ◽  
Joel García-Morera ◽  
Jordi Navarra
Keyword(s):  
The Other ◽  
Short Term ◽  
Bouncing Ball ◽  
Speech Stimuli ◽  
Short Term Exposure ◽  
Ball Bouncing ◽  
The Difference ◽  
Two Phases ◽  
Av Synchrony ◽  
Paired Preference

Studies in adults reveal that a short-term exposure to asynchronous audiovisual signals induces temporal realignment between these signals (Di Luca et al., 2009; Fujisaki et al., 2004; Navarra et al., 2009; Vroomen et al., 2004). In contrast with this evidence in adults, Lewkowicz (2010) observed that infants increased their sensitivity to AV asynchrony after exposure to asynchronous AV speech. We investigated whether brief experience with an asynchronous AV event would increase infants’ ability to discriminate AV synchrony from asynchrony in non-speech stimuli or else induce temporal realignment as observed in adults. Twenty-four 6-month-old infants were tested in two phases (Test 1 and 2) using an intersensory paired-preference procedure, with simple stimuli (two balls bouncing against the floor — one ball bouncing in synchrony while the other one in asynchrony with respect to the bouncing sound). Between Test 1 and 2, infants were exposed to AV asynchrony (a presentation of an audiovisually asynchronous bouncing ball). The results revealed that infants detected the difference between AV synchrony and asynchrony only after being exposed to an asynchronous AV event. Our findings support the idea that experience with AV asynchrony has different consequences for adults and infants: while temporal AV recalibration is observed in adults, an increase of the sensitivity to AV asynchrony is observed in infants.

scholarly journals Paying Attention: Overnight Returns and the Hidden Cost of Buying at the Open

2012 ◽  
Vol 47 (4) ◽  
pp. 715-741 ◽  
Author(s):  
Henk Berkman ◽  
Paul D. Koch ◽  
Laura Tuttle ◽  
Ying Jenny Zhang
Keyword(s):  
Transaction Costs ◽  
Investor Sentiment ◽  
Strong Tendency ◽  
Retail Investors ◽  
Hidden Cost ◽  
Retail Investor ◽  
Implicit Transaction Costs

AbstractWe find a strong tendency for positive returns during the overnight period followed by reversals during the trading day. This behavior is driven by an opening price that is high relative to intraday prices. It is concentrated among stocks that have recently attracted the attention of retail investors, it is more pronounced for stocks that are difficult to value and costly to arbitrage, and it is greater during periods of high overall retail investor sentiment. The additional implicit transaction costs for retail traders who buy high-attention stocks near the open frequently exceed the effective half spread.

scholarly journals Selective visual processing across competition episodes: a theory of task-driven visual attention and working memory

2013 ◽  
Vol 368 (1628) ◽  
pp. 20130060 ◽  
Author(s):  
Werner X. Schneider
Keyword(s):  
Working Memory ◽  
Visual Attention ◽  
Visual Processing ◽  
Attentional Resource ◽  
Short Term ◽  
Phase 3 ◽  
Search Processes ◽  
Current Task ◽  
Two Phases ◽  
Maintenance Process

The goal of this review is to introduce a theory of task-driven visual attention and working memory (TRAM). Based on a specific biased competition model, the ‘theory of visual attention’ (TVA) and its neural interpretation (NTVA), TRAM introduces the following assumption. First, selective visual processing over time is structured in competition episodes. Within an episode, that is, during its first two phases, a limited number of proto-objects are competitively encoded—modulated by the current task—in activation-based visual working memory (VWM). In processing phase 3, relevant VWM objects are transferred via a short-term consolidation into passive VWM. Second, each time attentional priorities change (e.g. after an eye movement), a new competition episode is initiated. Third, if a phase 3 VWM process (e.g. short-term consolidation) is not finished, whereas a new episode is called, a protective maintenance process allows its completion. After a VWM object change, its protective maintenance process is followed by an encapsulation of the VWM object causing attentional resource costs in trailing competition episodes. Viewed from this perspective, a new explanation of key findings of the attentional blink will be offered. Finally, a new suggestion will be made as to how VWM items might interact with visual search processes.

scholarly journals Donald Trump, investor attention and financial markets

2020 ◽  
Author(s):  
Tapas Tanmaya Mohapatra ◽  
Monika Gehde-Trapp
Keyword(s):  
Financial Markets ◽  
Volume Index ◽  
Investor Attention ◽  
Wealth Transfer ◽  
Search Volume ◽  
Retail Investors ◽  
Retail Investor ◽  
Google Search ◽  
Source Of Information ◽  
Sheer Number

Information attracts attention but attention is costly. Social media has been at the forefront ofinformation dissipation due to the sheer number of users propagating information in a fast but cheap way. We look into one specific case where Donald Trump’s tweets on companies have had effect on retail investors whose only source of information is internet. We find that retail investor attention spike as indicated by surge in Google Search Volume Index following Donald Trump’s tweet, irrespective of the tone in the tweet. We also find that Trump’s tweet facilitates wealth transfer due to selling from the retail investors followed by buying by the institutional investors in low retail investor attention environment. Finally, we see no effect in intra-day returns for the stocks irrespective of the attention they are receiving.

scholarly journals Awareness Level of Retail Investors on Stock Market in Chennai City

2020 ◽  
Vol 8 (4S5) ◽  
pp. 14-16
Keyword(s):  
Stock Market ◽  
Investment Decisions ◽  
Mean Value ◽  
The Past ◽  
Retail Investors ◽  
Retail Investor ◽  
Stock Market Investors ◽  
Chennai City ◽  
Investment Patterns ◽  
Structured Questionnaire

The globalization of monetary markets has been increasing the dimensions of retail investor community over the past three decades by providing a good sort of market and investment options. Hence, it makes their investment decisions process more complex. The present study aims to study the awareness of investors on stock market. The data were collected from 100 retail stock market investors of Chennai using structured questionnaire. The analysis is made using percentage and mean value. The study proves that post graduate, professional, high income level investors are aware of investment patterns through friends, neighbors and they yield a good income. The study also reveals that the retail investors are even aware of the fundamental and technical analysis of investment, which helps them for a better and wise investment.

scholarly journals Implementation of the Short-Term Assessment of Risk and Treatability over two phases

2017 ◽  
Vol Volume 10 ◽  
pp. 321-326 ◽  
Author(s):  
Erik Kroppan ◽  
Kåre Nonstad ◽  
Runar Busch Iversen ◽  
Erik Søndenaa
Keyword(s):  
Short Term ◽  
Two Phases
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