Accounting Lighthouse in Share Market Dynamics: A Theoretical Model of Share Price Formation with Dual Informational Structure

2010 ◽  
Author(s):  
Yuri Biondi ◽  
Pierpaolo Giannoccolo
Keyword(s):  
Theoretical Model ◽  
Share Price ◽  
Price Formation ◽  
Market Dynamics

Price manipulation at the NYSE and the 1899 battle for Brooklyn Rapid Transit shares

2013 ◽  
Vol 20 (3) ◽  
pp. 279-303
Author(s):  
Timothy A. Kruse ◽  
Steven K. Todd
Keyword(s):  
Trading Strategies ◽  
Share Price ◽  
Market Dynamics ◽  
Rapid Transit ◽  
Share Prices ◽  
Railway Company ◽  
Price Manipulation ◽  
The Press ◽  
Predatory Trading ◽  
Shed Light

In 1899, James Keene, a prominent bear, and Roswell Flower, a well-known bull, both attempted to manipulate the share price of Brooklyn Rapid Transit (BRT), a young commuter railway company. Flower and Keene were stock ‘operators’, who used pools of cash from like-minded investors to push share prices higher or lower. In their efforts to garner profits, BRT operators claimed insider status, planted rumors in the press, used leverage to accumulate large positions, manipulated borrowing costs and camouflaged trades. The events of 1899 can shed light on current market dynamics, and we draw parallels between the predatory trading strategies used in 1899 and those of today.

Share Price Formation, Market Exuberance and Accounting Design

2010 ◽  
Author(s):  
Yuri Biondi ◽  
Pierpaolo Giannoccolo
Keyword(s):  
Share Price ◽  
Price Formation ◽  
Market Exuberance

Evolution of the IBEX-35 vs other international indices: determinants of market value according to XGBOOST and GLM models

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Juián Martínez-Vargas ◽  
Pedro Carmona ◽  
Pol Torrelles
Keyword(s):  
Market Value ◽  
Financial Statements ◽  
Share Price ◽  
Price Formation ◽  
Coefficient Of Determination ◽  
Gradient Boosting ◽  
Political Factors ◽  
Content Type ◽  
International Trends ◽  
Extreme Gradient Boosting

PurposeThe purpose of this paper is to study the influence of different quantitative (traditionally used) and qualitative variables, such as the possible negative effect in determined periods of certain socio-political factors on share price formation.Design/methodology/approachWe first analyse descriptively the evolution of the Ibex-35 in recent years and compare it with other international benchmark indices. Bellow, two techniques have been compared: a classic linear regression statistical model (GLM) and a method based on machine learning techniques called Extreme Gradient Boosting (XGBoost).FindingsXGBoost yields a very accurate market value prediction model that clearly outperforms the other, with a coefficient of determination close to 90%, calculated on validation sets.Practical implicationsAccording to our analysis, individual accounts are equally or more important than consolidated information in predicting the behaviour of share prices. This would justify Spain maintaining the obligation to present individual interim financial statements, which does not happen in other European Union countries because IAS 34 only stipulates consolidated interim financial statements.Social implicationsThe descriptive analysis allows us to see how the Ibex-35 has moved away from international trends, especially in periods in which some relevant socio-political events occurred, such as the independence referendum in Catalonia, the double elections of 2019 or the early handling of the Covid-19 pandemic in 2020.Originality/valueCompared to other variables, the XGBoost model assigns little importance to socio-political factors when it comes to share price formation; however, this model explains 89.33% of its variance.

scholarly journals The Dynamics of Share-Price Formation

1939 ◽  
Vol 21 (4) ◽  
pp. 153 ◽  
Author(s):  
J. Tinbergen
Keyword(s):  
Share Price ◽  
Price Formation

scholarly journals The Functionality of Book-to-Market Ratio in Chinese Markets

2018 ◽  
Vol 2 (2) ◽  
pp. 50
Author(s):  
Larry Li ◽  
Adela McMurray ◽  
Bo Liu
Keyword(s):  
Stock Returns ◽  
Strong Relationship ◽  
Share Price ◽  
Price Formation ◽  
Leverage Ratio ◽  
Chinese Markets ◽  
Book To Market Ratio

We investigate the question whether the book to market ratio acts as a “risk-based” or “mispricing-based” proxy for share price formation in Chinese markets. We find that a strong relationship is observed between the firms’ book to market ratio and stock returns both in current and following years, while we cannot find a steady relationship between market leverage ratio and stock returns. In addition, the findings support the notion that a mispricing-based explanation is more plausible in China due to the speculative features of the Chinese markets.

scholarly journals The Functioning of the Real Estate Market: Dynamics of Price Formation and the Sale of Apartments

2020 ◽  
Vol XXIII (Issue 2) ◽  
pp. 281-307
Author(s):  
Radoslaw Wolniak ◽  
Marcin Olkiewicz ◽  
Marta Szymczewska ◽  
Anna Olkiewicz
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Price Formation ◽  
Market Dynamics ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

Share price formation, market exuberance and financial stability under alternative accounting regimes

2014 ◽  
Vol 10 (2) ◽  
pp. 333-362 ◽  
Author(s):  
Yuri Biondi ◽  
Pierpaolo Giannoccolo
Keyword(s):  
Financial Stability ◽  
Share Price ◽  
Price Formation ◽  
Market Exuberance

Share Return Seasonalities and Price Linkages of Chinese A and B Shares

1999 ◽  
Vol 02 (02) ◽  
pp. 205-229 ◽  
Author(s):  
Richard A. Heaney ◽  
John G. Powell ◽  
Jing Shi
Keyword(s):  
Share Price ◽  
Price Formation ◽  
A Share

This paper investigates share price linkages between Chinese corporations' foreign-designated B shares and the numerically dominant domestic A shares of the same companies. Chinese share return seasonalities are examined and the suggested satellite trading relationships are subsequently tested in order to provide an understanding of the linkages between A and B shares. The seasonality results along with arbitrage activity in the market for Chinese A and B shares suggest that a dominant-satellite relationship is likely to exist whereby the A share market is the dominant market for price formation and the B share market is the satellite. The paper identifies significant price linkages from the A to B share markets which are nevertheless weaker in an economic sense than might be expected.

A theoretical model for understanding dentists' behavior in treating patients with AIDS

1991 ◽  
Vol 55 (11) ◽  
pp. 708-716 ◽  
Author(s):  
MS Chen
Keyword(s):  
Theoretical Model
Sign in / Sign up

Export Citation Format

Share Document