scholarly journals Examining the effectiveness of fundamental analysis in a long-term stock portfolio

2021 ◽  
Vol 190 (5-6(2)) ◽  
pp. 119-127
Author(s):  
Zoltán Csesznik ◽  
◽  
Sándor Gáspár ◽  
Gergő Thalmeiner ◽  
Zoltán Zéman ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Stock Index ◽  
Financial Indicators ◽  
Financial Modelling ◽  
The Past ◽  
External Data ◽  
Investment Tool ◽  
Stock Portfolio ◽  
Reporting Data

Over the past decade, a number of modern and sophisticated methods have been developed to optimize the composition of equity portfolios. Most of these methods are based on complex mathematical or financial modelling. Less emphasis has been placed on companies’ internal data, while in recent years external data have become increasingly important. However, for long-term investments, the dominance of external data is not necessarily an efficient way to construct an appropriate portfolio. In this paper, we highlight the phenomenon that complex mathematical models, the based on simpler fundamental indicators can also be an efficient investment tool for in making investment decisions. Our results show that our hypothesis has been confirmed that some basic-based indicators can achieve alpha returns. Our analysis is based on financial reporting data in the form of various financial indicators. We used the S&P500 index as benchmark. A comparative analysis of the stock portfolio created illustrates that basic analysis can be more effective than a chosen market-based stock index. By the end of the period under review, the portfolio based on the selected five core financial indicators had a market capitalization 1.68% higher than the benchmark. The alpha return achieved also demonstrates that even simpler models can be efficient and effective in creating an equity portfolio.

scholarly journals Development of Public Non-financial Reporting of Economic Entities

2020 ◽  
Vol 7 (4) ◽  
pp. 63-70
Author(s):  
E. V. Nikiforova
Keyword(s):  
Sustainable Development ◽  
Financial Reporting ◽  
Mutual Influence ◽  
Comprehensive Assessment ◽  
Real Economy ◽  
Financial Indicators ◽  
Financial Reports ◽  
Economic Entity ◽  
Key Stakeholders

The paper describes the main directions of public non-financial reporting development of economic entities. The main reason of disclosure non-financial indicators of an economic entity is to make the content more informative of the most significant of them for business. The research methodology, based on the methods of logical analysis, comparison and comparison, provides for the use of non-financial drivers of an economic entity, formed through an information system for a comprehensive assessment of its effectiveness. The result of the study is a proposal for a multi-factor approach to solving issues of sustainable development of economic entities. A comprehensive assessment of the economic entities performance should be based on the analysis of financial and non-financial reports that contributes the improvement of the information reliability about the activities of economic entities both in relation to their indicators in the medium and long term. Also, this concerns other fields of activity, taking into account the relationship and mutual influence of economic indicators. There have been formulated some recommendations regarding the information area of sustainable development of economic entities, which provides key stakeholders with timely and reliable information for developing ways of interaction. The research may be of interest to economic entities in the real economy sector in various fields of activity.

The roles of actuaries in UK life offices: changes and challenges

2015 ◽  
Vol 21 (01) ◽  
pp. 134-164
Author(s):  
C. D. O’Brien ◽  
G. A. Gallagher ◽  
R. J. Green ◽  
D. W. Hughes ◽  
F. Liang ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Financial Analysis ◽  
Continuing Professional Development ◽  
Solvency Ii ◽  
Executive Directors ◽  
Good Industry ◽  
Financial Modelling ◽  
Financial Reporting Standards ◽  
The Past ◽  
Risk Functions

AbstractWe examine the roles of actuaries in UK life offices, along with trends, challenges to and opportunities for actuaries. We carry out an analysis of senior roles in life offices, a questionnaire survey and interviews with relevant senior personnel. We find that actuaries occupy many important roles in life offices and are regarded as having good industry knowledge and technical skills, especially in financial modelling. There are fewer executive directors and more non-executive directors of life offices who are actuaries compared with the position in 1990. A higher proportion of reserved roles is outsourced to consultants than was the case in 1990. Only a small number of Actuarial Function Holders are directors. Actuaries are more siloed than was the case in the past, although actuaries are well represented in the finance and risk functions of many offices. Although actuarial work in connection with the preparation for Solvency II will decline, there will be important ongoing requirements for actuaries following Solvency II implementation. We also see opportunities for actuaries in four areas: in risk management, in financial analysis and management based on Solvency II and international financial reporting standards, in connection with “big data”, and in product development and the customer proposition. There are implications for the examination syllabus, continuing professional development and research.

Enabling Community Well-being Self-Monitoring in the Context of Mining: The Naskapi Nation of Kawawachikamach

2016 ◽  
Vol 1 (2) ◽  
Author(s):  
Robert Klinck ◽  
Ben Bradshaw ◽  
Ruby Sandy ◽  
Silas Nabinacaboo ◽  
Mannie Mameanskum ◽  
...  
Keyword(s):  
Indigenous Peoples ◽  
Well Being ◽  
Aboriginal Community ◽  
Self Monitoring ◽  
Community Engaged Research ◽  
The Past ◽  
Mineral Development ◽  
Iron Deposits ◽  
Term Monitoring

The Naskapi Nation of Kawawachikamach is an Aboriginal community located in northern Quebec near the Labrador Border. Given the region’s rich iron deposits, the Naskapi Nation has considerable experience with major mineral development, first in the 1950s to the 1980s, and again in the past decade as companies implement plans for further extraction. This has raised concerns regarding a range of environmental and socio-economic impacts that may be caused by renewed development. These concerns have led to an interest among the Naskapi to develop a means to track community well-being over time using indicators of their own design. Exemplifying community-engaged research, this paper describes the beginning development of such a tool in fall 2012—the creation of a baseline of community well-being against which mining-induced change can be identified. Its development owes much to the remarkable and sustained contribution of many key members of the Naskapi Nation. If on-going surveying is completed based on the chosen indicators, the Nation will be better positioned to recognize shifts in its well-being and to communicate these shifts to its partners. In addition, long-term monitoring will allow the Naskapi Nation to contribute to more universal understanding of the impacts of mining for Indigenous peoples.

Courting the Youth Vote in 2008: The Obama Effect

2009 ◽  
Vol 5 ◽  
Author(s):  
Lindsey C Bohl
Keyword(s):  
Presidential Elections ◽  
Voter Registration ◽  
The Internet ◽  
The Past ◽  
Several Variables ◽  
High Turnout ◽  
Short And Long Term ◽  
Use Of The Internet ◽  
Youth Vote

This paper examines a few of the numerous factors that may have led to increased youth turnout in 2008 Election. First, theories of voter behavior and turnout are related to courting the youth vote. Several variables that are perceived to affect youth turnout such as party polarization, perceived candidate difference, voter registration, effective campaigning and mobilization, and use of the Internet, are examined. Over the past 40 years, presidential elections have failed to engage the majority of young citizens (ages 18-29) to the point that they became inclined to participate. This trend began to reverse starting in 2000 Election and the youth turnout reached its peak in 2008. While both short and long-term factors played a significant role in recent elections, high turnout among youth voters in 2008 can be largely attributed to the Obama candidacy and campaign, which mobilized young citizens in unprecedented ways.

Impact of FII’s and FDI’s on Indian Stock Market

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dr. Kamlesh Kumar Shukla
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Global Economy ◽  
Short Term ◽  
Earnings Growth ◽  
The Past ◽  
Bull Market ◽  
Indian Stock Market

FIIs are companies registered outside India. In the past four years there has been more than $41 trillion worth of FII funds invested in India. This has been one of the major reasons on the bull market witnessing unprecedented growth with the BSE Sensex rising 221% in absolute terms in this span. The present downfall of the market too is influenced as these FIIs are taking out some of their invested money. Though there is a lot of value in this market and fundamentally there is a lot of upside in it. For long-term value investors, there’s little because for worry but short term traders are adversely getting affected by the role of FIIs are playing at the present. Investors should not panic and should remain invested in sectors where underlying earnings growth has little to do with financial markets or global economy.

Chinese Medicine Protein and Peptide in Gene and Cell Therapy

2019 ◽  
Vol 20 (3) ◽  
pp. 251-264 ◽  
Author(s):  
Yinlu Feng ◽  
Zifei Yin ◽  
Daniel Zhang ◽  
Arun Srivastava ◽  
Chen Ling
Keyword(s):  
Chinese Medicine ◽  
Cell Therapy ◽  
Future Research ◽  
The Past ◽  
Promising Strategy ◽  
Wide Range ◽  
New Directions ◽  
Gene And Cell Therapy ◽  
Proteins And Peptides

The success of gene and cell therapy in clinic during the past two decades as well as our expanding ability to manipulate these biomaterials are leading to new therapeutic options for a wide range of inherited and acquired diseases. Combining conventional therapies with this emerging field is a promising strategy to treat those previously-thought untreatable diseases. Traditional Chinese medicine (TCM) has evolved for thousands of years in China and still plays an important role in human health. As part of the active ingredients of TCM, proteins and peptides have attracted long-term enthusiasm of researchers. More recently, they have been utilized in gene and cell therapy, resulting in promising novel strategies to treat both cancer and non-cancer diseases. This manuscript presents a critical review on this field, accompanied with perspectives on the challenges and new directions for future research in this emerging frontier.

Organizational Reforms as Routines

2017 ◽  
Author(s):  
Nils Brunsson
Keyword(s):  
Long Term Effects ◽  
The Past ◽  
Limited Experience

This chapter argues that organizational reforms are driven by problems to be addressed, by solutions to be applied, and by forgetfulness. The greater the supply of any of these factors, the more likely it is that reforms will occur. Without problems, reforms are difficult to justify; without solutions they cannot be formulated; and without forgetfulness there is a risk that people will be discouraged by the fact that similar reforms have been tried and have failed in the past. In contemporary large organizations, problems tend to be easily found. Those interested in selling solutions often try to supply problems as well — problems that can be solved by their solutions. Forgetfulness can be promoted by the use of consultants with limited experience of the implementation and long-term effects of reforms. Reforms are also self-referential; they tend to cause new reforms. Thus, reforms can be considered as routines: they are likely to be repeated over and over again.

Concussion, neuroethics, and sport: Policies of the past do not suffice for the future

2017 ◽  
Author(s):  
Brad Partridge ◽  
Wayne Hall
Keyword(s):  
Mental Health ◽  
Head Trauma ◽  
Mental Health Problems ◽  
Ethical Issues ◽  
Cognitive Impairments ◽  
Concussion Management ◽  
Design And Implementation ◽  
The Past ◽  
Management Policies

Concussion management policies have become a major priority worldwide for sports that involve frequent collisions between participants because repeated head trauma has been associated with long-term cognitive impairments, mental health problems, and some forms of neurological degeneration. A number of concussion management policies have been developed by professional bodies and subsequently adopted by various sporting leagues. These have offered little guidance on how to navigate ethical issues in identifying and managing concussion. This chapter discusses ethical issues that arise in the diagnosis of concussion, debates about the longer-term consequences of repeated concussion injuries, and the design and implementation of policies that aim to prevent and manage concussion injuries in sporting matches.

Increase associated risk of gynaecological cancer due to long-term exposure to high concentration of atmospheric SO2 industrial pollutant

2021 ◽  
pp. 1420326X2110036
Author(s):  
Qian Xu ◽  
Chan Lu ◽  
Rachael Gakii Murithi ◽  
Lanqin Cao
Keyword(s):  
Time Windows ◽  
Air Pollutant ◽  
Gynaecological Cancer ◽  
High Concentration ◽  
The Past ◽  
Short And Long Term ◽  
Using Data ◽  
Air Quality Monitoring Stations ◽  
Control Study

A cohort case–control study was conducted in XiangYa Hospital, Changsha, China, which involved 305 patients and 399 healthy women, from June 2010 to December 2018, to evaluate the association between Chinese women’s short- and long-term exposure to industrial air pollutant, SO2 and gynaecological cancer (GC). We obtained personal and family information from the XiangYa Hospital electronic computer medical records. Using data obtained from the air quality monitoring stations in Changsha, we estimated each woman’s exposure to the industrial air pollutant, sulphur dioxide (SO2), for different time windows, including the past 1, 5, 10 and 15 years before diagnosis of the disease. A multiple logistic regression model was used to assess the association between GC and SO2 exposure. GC was significantly associated with long-term SO2 exposure, with adjusted odds ratio (95% confidence interval) = 1.56 (1.10–2.21) and 1.81 (1.07–3.06) for a per interquartile range increase in the past 10 and 15 years, respectively. Sensitivity analysis showed that different groups reacted in different ways to long-term SO2 exposure. We concluded that long-term exposure to high concentration of industrial pollutant, SO2 is associated with the development of GC. This finding has implications for the prevention and reduction of GC.

scholarly journals A Markov-Switching VSTOXX Trading Algorithm for Enhancing EUR Stock Portfolio Performance

Mathematics ◽  
2021 ◽  
Vol 9 (9) ◽  
pp. 1030
Author(s):  
Oscar V. De la Torre-Torres ◽  
Evaristo Galeana-Figueroa ◽  
José Álvarez-García
Keyword(s):  
Markov Switching ◽  
Stock Index ◽  
Portfolio Performance ◽  
Trading Costs ◽  
Weighting Method ◽  
Treasury Bills ◽  
Markov Switching Models ◽  
Switching Models ◽  
Asset Portfolio ◽  
Stock Portfolio

In the present paper, we test the benefit of using Markov-Switching models and volatility futures diversification in a Euro-based stock portfolio. With weekly data of the Eurostoxx 50 (ESTOXX50) stock index, we forecasted the smoothed regime-specific probabilities at T + 1 and used them as the weighting method of a diversified portfolio in ESTOXX50 and ESTOSS50 volatility index (VSTOXX) futures. With the estimated smoothed probabilities from 9 July 2009 to 29 September 2020, we simulated the performance of three theoretical investors who paid different trading costs and invested in ESTOXX50 during calm periods (low volatility regime) or VSTOXX futures and the three-month German treasury bills in distressed or highly distressed periods (high and extreme volatility regimes). Our results suggest that diversification benefits hold in the short-term, but if a given investor manages a two-asset portfolio with ESTOXX50 and our simulated portfolios, the stock portfolio’s performance is enhanced significantly, in the long term, with the presence of trading costs. These results are of use to practitioners for algorithmic and active trading applications in ESTOXX50 ETFs and VSTOXX futures.

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