scholarly journals The Impact of Social Knowledge on the Efficiency of the Financial Markets: A Case Study on the Erbil Stock Exchange

2021 ◽  
Vol 9 (4) ◽  
pp. 362-377
Author(s):  
Susan Omer Othman Nanakali ◽  
Dilshad Aziz Agha ◽  
Mustafa Farooq Othman
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Social Knowledge ◽  
Test Results ◽  
Factor Analyses ◽  
Monthly Income ◽  
The Impact

This study was designed to investigate the factors that can have an impact on the efficiency of financial markets, and the Erbil Stock Exchange was chosen as a case study. The researchers sought to evaluate the level of social knowledge by concentrating on certain dimensions which have a direct influence on the public’s perspective regarding financial markets – namely religion, culture and economic awareness – and the number of people participating in the sale and purchase of stocks and shares. This study tested the hypotheses by applying some statistical analyses, and the outputs are detailed in the tables, figures and factors. According to the results, the efficiency of the stock market is affected by monthly income, culture and religion, and public experience. It was also found that there is no difference in perspective between men and women regarding investing in the stock market. This is supported by the hypothesis test results, which indicated that there is no correlation between gender and economic awareness, number of participators, culture, and religion. The results of the factor analyses show that there is a significant correlation between religion, culture, economic awareness and the number of people participating and social knowledge, and that these factors significantly affect the efficiency of the stock market.

scholarly journals Financial contagion: The impact of the volatility of global stock exchanges on the Lima-Peru Stock Exchange

2020 ◽  
Vol 1 (1) ◽  
pp. 13-27
Author(s):  
Pedro Pablo Chambi Condori
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Stock Exchange ◽  
Market Volatility ◽  
Financial Contagion ◽  
Stock Market Volatility ◽  
Important Indicator ◽  
Dynamic Correlation ◽  
High Volatility ◽  
The Impact

What happens in the international financial markets in terms of volatility, have an impact on the results of the local stock market financial markets, as a result of the spread and transmission of larger stock market volatility to smaller markets such as the Peruvian, assertion that goes in accordance with the results obtained in the study in reference. The statistical evaluation of econometric models, suggest that the model obtained can be used for forecasting volatility expected in the very short term, very important estimates for agents involved, because these models can contribute to properly align the attitude to be adopted in certain circumstances of high volatility, for example in the input, output, refuge or permanence in the markets and also in the selection of best steps and in the structuring of the portfolio of investment with equity and additionally you can view through the correlation on which markets is can or not act and consequently the best results of profitability in the equity markets. This work comprises four well-defined sections; a brief history of the financial volatility of the last 15 years, a tight summary of the background and a dense summary of the methodology used in the process of the study, exposure of the results obtained and the declaration of the main conclusions which led us mention research, which allows writing, evidence of transmission and spread of the larger stock markets toward the Peruvian stock market volatility, as in the case of the American market to the market Peruvian stock market with the coefficient of dynamic correlation of 0.32, followed by the Spanish market and the market of China. Additionally, the coefficient of interrelation found by means of the model dcc mgarch is a very important indicator in the structure of portfolios of investment with instruments that they quote on the financial global markets.

scholarly journals IMPACT OF COVID 19 ON THE INDIAN STOCK MARKET

2021 ◽  
Vol 23 (07) ◽  
pp. 1085-1090
Author(s):  
Harsh Vikram Arora ◽  
Keyword(s):  
United States ◽  
Stock Market ◽  
Financial Markets ◽  
Stock Price ◽  
Stock Exchange ◽  
The United States ◽  
World Health ◽  
Health Crisis ◽  
The World ◽  
The Impact

The COVID19 pandemic which came unprecedentedly has brought forward a lot of confusion and unrest in the world. There are a lot of changes with regard to the global landscape in multiple ways. SARS-CoV-2 is the primary virus, which is the root contributor to the COVID19 outbreak, which started in Wuhan, Hubei Province, China, in December 2019. It did not take much time to spread across the world. This pandemic has resulted in a universal health crisis, along with a major decline in the global economy. One of the major reasons for the fluctuation in the stock price is supply and demand. When the number of people who want to sell their stocks outnumbers those who want to purchase it, the stock price drops. Due to the result in the gap, the financial markets will suffer in the short duration, but in the long run, markets will correct themselves and would increase again. There is a sharp decline in the stock price because of the pandemic. The current scenario has resulted in a world health crisis which has contributed to global and economic crises. Almost all financial markets across the world have been affected by the recent health crisis, with stock and bond values falling gradually and severely. In the United States, the Dow Jones and S& P 500 indices have fallen by more than 20%. The Shanghai Stock Exchange and the New York Dow Jones Stock Exchange both indicate that they had a significant impact on China’s and the United States’ financial markets. The primary purpose of this paper is to determine the impact of COVID19 on stock markets. The rapid spread of the virus has left a major impact on the global financial markets. There is a link between the pandemic and the stock market, and this has been studied in this paper. Along with it, an attempt is taken to compare stock price returns in pre-COVID19 and post-COVID19 scenarios. The stock market in India faced uncertainty during the pandemic, according to the findings.

scholarly journals IMPACT OF GLOBAL FINANCIAL CRISIS ON JAPAN, CHINA, INDIA AND USA STOCK EXCHANGE AND INTER-LINKAGE BETWEEN THEM

2016 ◽  
Vol 4 (5) ◽  
pp. 189-197
Author(s):  
Rabia Najaf
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Financial Markets ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Garch Model ◽  
The World ◽  
Prime Objective ◽  
The Impact

In this paper, we analyzed the impact of financial crisis on different countries by the using of E-GARCH model .our main finding is that in the financial crisis has impact on the stock exchange of different countries. We proved that due to financial crisis most of countries stock exchange have been affected badly. In the world,the American stock exchange was established in 1792. Two dozen brokers were started the stock trading.Now a day, 2,429 companies are listed under this stock exchange. The prime objective of the scholars is to find out the impact of financial crisis on the different stock market. Scholars have proved that financial crisis have always impacted on the financial markets.

scholarly journals Use of the Black and Scholes model in the pricing of purchasing options based on the index of the Iraq Stock Exchange for the period from 6/2 to 25/2/2019

2019 ◽  
Vol 5 (2) ◽  
pp. 68
Author(s):  
Ammar Shihab Ahmed
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Technical Analysis ◽  
Relative Strength ◽  
Financial Indicators ◽  
Strength Index ◽  
The Future ◽  
The Impact

Due to the increasing number of interested investors in the rights of options, it is necessary to highlight this section of the financial markets, and that one of the main reasons for increasing the attractiveness of investors in this type of market is the reduction of capital required to invest in it, and contribute to maximize their profitability if true (Investors 'profits are unlimited) and reduce their losses to a certain extent (investors know in advance the amount of their losses before the turnout of investment) if their expectations are unhealthy. Investors' losses are determined by the amount of the bonus they pay to the contract editor, After the pricing of the contracts of the rights of the purchase choice, they will be certain of the size of the losses they will incur if their expectations for the future are incorrect, and many techniques of technical analysis help investors to predict the future prices of securities or financial indicators. In the research is the relative strength index, and through this indicator, investors can determine whether the prices in the stock market sold at high or low prices, contributing to the impact on the value of the index of the stock market, so the prospect of the future helps investors In making their investment decisions to buy buying rights in the event of higher prices in the future. Conversely, the expectation of lower prices in the future investors are selling purchase rights rights contracts, and thus achieve profits in both cases.Keywords: Black & Schulz model, RSI, financial choice, pricing of purchase choice.

scholarly journals ANALISIS KINERJA KEUANGAN PERUSAHAAN YANG TERMASUK DALAM KELOMPOK INDEKS LQ 45 DAN JII DENGAN MENGGUNAKAN ROE DAN ROA PADA BURSA EFEK INDONESIA TAHUN 2010

2011 ◽  
Vol 3 (2) ◽  
pp. 115-143
Author(s):  
Yan Noviar Nasution ◽  
Herdiyana Herdiyana
Keyword(s):  
Stock Exchange ◽  
Hypothesis Test ◽  
Test Results ◽  
Return On Assets ◽  
Public Companies ◽  
The Public ◽  
Significant Difference ◽  
The Difference ◽  
A Company

This Research is entitled The Analysis of the Financial Performance Companies which Included in groupan index to LQ 45 And JII by using ROE and ROAat IndonesiaStock Exchange in the Year of 2010. As for target of this research to know the difference between the mean of Return Equity on ( ROE) and Return On Assets ( ROA)of the public companies is merged into go to group of LQ 45 which have large asset and LQ 45 which have small asset, of the public companies is merged into go to group of JII whichhave large asset and JII which have small asset, and of the public companies is merged into go to group of LQ 45 which have large asset and JII whichhave large asset and also of the public companies is merged into go to group of LQ 45 which have small asset and JII whichhave small asset and of the public companies is merged into go to group of LQ 45 which have large asset and JII whichhave smallasset and also of the public companies is merged into go to group of LQ 45 which have small asset and JII whichhave large asset .The research method used is case study of the public companies which is merged into go to group of LQ 45 and JII ( Jakarta Islamic Index ) which are listed in Indonesia Stock Exchange. Analysis of the different test using the criteria of asset ownership, meaning the companies split in two groups of assets, the company went public that beraset beraset small and large. Where restrictions on the size of a company, obtained from the calculation of the average assets held by the sample firms went public in each group of assets While companies taken as sample is companies which enlist in two period of the announcement of Indonesia Stock Exchange or one fullyear of (2010) and data used in this research is data of secondary in Web IDX.Based on the hypothesis test results concluded that there are significant differences between the ROA average of the public companies is merged into go to group of LQ 45 which have large asset withthe average ROA of the public companies is merged into go to group of JII whichhave large asset or which have small asset. As well as that there are significant difference between the average the ROA of the public companies is merged into go to group of JII whichhave large asset with the average the ROA of the public companies is merged into go to group of JII whichhave small asset.While for the group of LQ45 indexthere is no significant difference between the ROA average of the public companies is merged into go to group of LQ 45 which have large asset with the ROA average of the public companies is merged into go to group of LQ 45 which have small asset. Meanwhile, for the ROE average in general there is no significant difference between of the public companies is merged into go to group of LQ 45orthe group ofJII, except between the ROE average of the public companies is merged into go to group of LQ 45 which have large asset withthe average ROE of the public companies is merged into go to group of JII whichhave large asset.

scholarly journals COMPARATIVE ANALYSIS OF RETURN AND VOLATILITY OF THE KAZAKH AND UKRAINIAN STOCK MARKET SUBJECT TO THE INVESTMENT TIME HORIZON

THE BULLETIN ◽  
2021 ◽  
Vol 3 (391) ◽  
pp. 133-138
Author(s):  
О.О. Zakharkin ◽  
L.L. Hrytsenko ◽  
L.S. Zakharkina ◽  
Iu.O. Myroshnychenko
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Stock Markets ◽  
Time Horizon ◽  
Stock Exchange ◽  
Scientific Work ◽  
Investment Horizon ◽  
Financial Investment ◽  
High Return ◽  
The Impact

The development of the state's economy is inconceivable without the revitalization of investment processes in the field of financial investment, which are based on operations in the stock market. Simultaneously, the financial investment is characterized by speculative risk, which involves the possibility of obtaining both income and losses from the tradable securities. Such risk creates volatility of financial markets, an indicator of which is the dynamics of changes in stock indices that reflect the value of share capital of the largest enterprises and financial institutions of the state. The analysis of the results of recent scientific work carried out in the paper has shown a significant interest among the world's leading financial scientists to the issue of assessing the volatility of stock markets, which becomes of particular relevance subject to the investment time horizon. The study revealed a strong linear direct correlation between the indices of the Kazakhstan Stock Exchange (KASE) and the Ukraine Stock Exchange (PFTS). The analysis of the impact of the investment time horizon on the indicators of return and volatility was carried out for the Kazakh and Ukrainian stock markets. As a result, it was determined that the stock markets of both countries are characterized by a significant level of volatility, which is offset by high return and tends to decrease with increasing investment horizon. Analysis of the return and risk ratio using the Sharpe Ratio demonstrated an increase in investment attractiveness with increasing investment horizon.

Do Indian stock market sentiments impact contemporaneous returns?

2018 ◽  
Vol 7 (3) ◽  
pp. 332-346
Author(s):  
Divya Aggarwal ◽  
Pitabas Mohanty
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Temporal Dynamics ◽  
Stock Exchange ◽  
Principal Component ◽  
Stock Index ◽  
Content Type ◽  
Investor Sentiments ◽  
Indian Stock Market ◽  
The Impact

Purpose The purpose of this paper is to analyse the impact of Indian investor sentiments on contemporaneous stock returns of Bombay Stock Exchange, National Stock Exchange and various sectoral indices in India by developing a sentiment index. Design/methodology/approach The study uses principal component analysis to develop a sentiment index as a proxy for Indian stock market sentiments over a time frame from April 1996 to January 2017. It uses an exploratory approach to identify relevant proxies in building a sentiment index using indirect market measures and macro variables of Indian and US markets. Findings The study finds that there is a significant positive correlation between the sentiment index and stock index returns. Sectors which are more dependent on institutional fund flows show a significant impact of the change in sentiments on their respective sectoral indices. Research limitations/implications The study has used data at a monthly frequency. Analysing higher frequency data can explain short-term temporal dynamics between sentiments and returns better. Further studies can be done to explore whether sentiments can be used to predict stock returns. Practical implications The results imply that one can develop profitable trading strategies by investing in sectors like metals and capital goods, which are more susceptible to generate positive returns when the sentiment index is high. Originality/value The study supplements the existing literature on the impact of investor sentiments on contemporaneous stock returns in the context of a developing market. It identifies relevant proxies of investor sentiments for the Indian stock market.

scholarly journals Effects of Infrastructure Development, Inflation and Economic Growth to Performance Company (ROA, Tobin's Q, PBV): Study on Registered Infrastructure Support Companies in IDX Period 2014-2019

2021 ◽  
Vol 4 (3) ◽  
Author(s):  
Eko Sarjono ◽  
◽  
Kartika Hendra Titisari ◽  
Supawi Pawenang
Keyword(s):  
Economic Growth ◽  
Performance Measurement ◽  
Financial Performance ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Linear Regression Analysis ◽  
Infrastructure Development ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
The Impact

The financial performance can be used as a benchmark of the ability of an organization or company in achieving its goals. Performance measurement is one of the most important factors for an organization or company, performance measurement is a process of measuring the extent to which a company does work to achieve its goals. The research investigated the impact of infrastructure, economic growth and inflation on financial performance of infrastructure support companies listed in Indonesian Stock Exchange Period 2014-2019 which is proxied by ROA (Return on Assets), Tobin’s Q and PBV (Price to Book Value). The population of this research was the infrastructure support companies listed on the Indonesian Stock Exchange period 2014-2019. Research sampling was conducted using The Purposive Sampling Method. The data analysis was camed out using classical assumption test, multiple linear regression analysis, t-test, F-test and determinan (R2) test with SPSS 21. The research finding showed that the model has an effect on the financial performance as proxied by ROA. So the results of the hypothesis test show that: (1) Infrastructure development has a negative and significant effect on ROA. (2) The inflation rate has a positive and significant effect on ROA. (3) Economic growth has no significant effect on ROA. Meanwhile, the model has no effect on financial performance which is proxied in Tobin's Q and PBV.

scholarly journals Transactions Volume, Exchange Direction and Asymmetry of Volatility in Emerging Market: Evidence From Tunisian Stock Exchange

2020 ◽  
Vol 11 (6) ◽  
pp. 318
Author(s):  
Jaber Yasmina
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Stock Exchange ◽  
Emerging Market ◽  
Explanatory Power ◽  
Trading Activity ◽  
Auto Correlation ◽  
The Asymmetry ◽  
The Impact ◽  
The Relationship

This study is an attempt to explain the relationship between intraday return and volume in Tunisian Stock Market. Indeed, former researches avow that the trading activity have the main explanatory power for volatility. However, most theories measure the activity of transactions through the size of exchange or the number of transactions. Nevertheless, these components are not aware enough of the importance of the direction of exchange when explaining the phenomenon of asymmetry of volatility. In the most of studies, the technique “Augmented Tick Test” (ATT) is employed so as to identify the direction of exchange. Such technique is adapted for the markets directed by orders like the Tunisian financial market. Again, this paper shows that the impact of the direction of exchange differs according to the market trend. In other words, if the returns are positive, the transactions of sale (of purchase) generate a decrease (increase) of volatility; whereas, they induce an increase (drop) of volatility if returns are negative. This result stresses the significance of exchange direction in explaning the asymmetry of volatility. Moreover, throughout this study, one may affirm that “Herding trades” are at the origin of the increase of volatility, while the “Contrarian trades” reduce volatility. Similarly, the identification of the direction of exchange enables us to affirm that the transactions of the initiates are characterized by the absence of returns auto- correlation; whereas, the transactions carried out by uninformed investors present an auto- correlation of the returns. In fact, the sign of this correlation varies according to transaction direction.

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