((((((, , ) (Forecasting of Global Prices in Financial Markets (Commodities, Share Prices, Exchange Rates))

2015 ◽  
Author(s):  
Yakov Mirkin ◽  
Tatyana Zhukova ◽  
Karina Bakhtaraeva ◽  
Anna Levchenko
Keyword(s):  
Financial Markets ◽  
Exchange Rates ◽  
Share Prices

scholarly journals International Liquidity and Exchange Rate Dynamics *

2015 ◽  
Vol 130 (3) ◽  
pp. 1369-1420 ◽  
Author(s):  
Xavier Gabaix ◽  
Matteo Maggiori
Keyword(s):  
Exchange Rate ◽  
Financial Markets ◽  
Exchange Rates ◽  
Capital Flows ◽  
Risk Sharing ◽  
Market Model ◽  
International Liquidity ◽  
Balance Sheets ◽  
Macroeconomic Analysis ◽  
International Pricing

Abstract We provide a theory of the determination of exchange rates based on capital flows in imperfect financial markets. Capital flows drive exchange rates by altering the balance sheets of financiers that bear the risks resulting from international imbalances in the demand for financial assets. Such alterations to their balance sheets cause financiers to change their required compensation for holding currency risk, thus affecting both the level and volatility of exchange rates. Our theory of exchange rate determination in imperfect financial markets not only helps rationalize the empirical disconnect between exchange rates and traditional macroeconomic fundamentals, it also has real consequences for output and risk sharing. Exchange rates are sensitive to imbalances in financial markets and seldom perform the shock absorption role that is central to traditional theoretical macroeconomic analysis. Our framework is flexible; it accommodates a number of important modeling features within an imperfect financial market model, such as nontradables, production, money, sticky prices or wages, various forms of international pricing-to-market, and unemployment.

scholarly journals Short sellers: Villains or scapegoats?

2011 ◽  
Vol 8 (2) ◽  
pp. 391-401
Author(s):  
Robert Wearing ◽  
Carmen A. Li
Keyword(s):  
Financial Markets ◽  
Stakeholder Theory ◽  
News Media ◽  
Share Price ◽  
Empirical Literature ◽  
Information Function ◽  
Share Prices ◽  
Short Sellers ◽  
High Share

This paper discusses the role of short sellers and the concerns which are expressed in the news media about their activities. In particular, it examines the problem of optimism in analysts’ forecasts which might initially lead to ‘high’ share prices and the limitations of both agency and stakeholder theory in providing short sellers with a legitimate role. With the help of the existing empirical literature, we argue that short sellers can be regarded as carrying out a useful information function in financial markets. Indeed, encouraging short sellers to operate more effectively in the market as well as requiring fuller disclosure of their activities could provide a useful antidote to some of the share price rises which have been seen in recent years in failing companies

scholarly journals Correlations Between Corporate Governance Practices And Financial Performances In Indian Banks

2019 ◽  
Vol 8 (5C) ◽  
pp. 1485-1496
Keyword(s):  
Corporate Governance ◽  
Financial Markets ◽  
Financial Ratios ◽  
Share Prices ◽  
Corporate Scandals ◽  
Earnings Per Share ◽  
Governance Practices ◽  
Computer Services ◽  
Indian Banks ◽  
Governance Disclosure

In the last era, Corporate Governance has advanced and developed significantly. Integration and globilisation of the capital markets and financial markets are the important factors for the rapid developments in this arena. It has also made way to the development of more number of corporate scandals (such as corporate accounting scandal at Satyam computer services) or fraud loans by Banks (Punjab National Banks).The study based on correlation, analyses the link between corporate governance disclosure practices and the financial ratios, which in turn leads to a successful governance paradigm accountability. It also aims to study about the financial ratios, which are within the RBI trigger level and find out whether there is any correlation between the movements of share prices and earnings per share of the banks during the study period.

Banks, Brokers, Bonds, and Currencies, 1970–92

2020 ◽  
pp. 36-56
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Exchange Rates ◽  
New World ◽  
Second World War ◽  
Financial Systems ◽  
Financial Activity ◽  
Divide And Rule ◽  
National Boundaries ◽  
Financial Transactions ◽  
Second World

After the Second World War governments prioritized banks over markets within both national and international financial systems. The result altered the balance between banks and financial markets firmly in the direction of the former. Banks responded by expanding, reaching a size and scale that allowed them to internalize financial transactions within a single organization. That position then changed from 1970 onwards with an end to the era of control and compartmentalization. The process of change involved the gradual removal of the national boundaries and segregated activities that had protected banks from competition. In this new world financial markets began to prosper. These included markets for stocks and bonds as well as the exponential growth of trading in foreign exchange as the regime of fixed exchange rates collapsed. This era saw the emergence of a new breed of megabanks that spanned the globe and engaged in all manner of financial activity. Serving their needs was a group of interdealer brokers who acted as intermediaries between these banks. The combination of the megabanks and the interdealer brokers undermined the ability of regulators to police both banks and financial markets through a policy of divide and rule.

scholarly journals The Impacts of International Political and Economic Events on Japanese Financial Markets

2020 ◽  
Vol 8 (3) ◽  
pp. 43
Author(s):  
Mirzosaid Sultonov
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Exchange Rates ◽  
Presidential Election ◽  
The United States ◽  
Foreign Exchange Rates ◽  
Macroeconomic Variables ◽  
Causality Relationship ◽  
Market Indexes ◽  
And Behavior

Information about the possibilities of changes in national and international macroeconomic variables affects the expectations and behavior of individuals and firms more quickly than real changes in those macroeconomic variables. In this research, we investigate the impacts of international information (news) on the financial markets in Japan. We examine how news about the results of the Brexit referendum (BR) and the United States presidential election (USE) affected foreign exchange rates and stock market indexes. This research reveals evidence of statistically significant changes in exchange rates and stock market indexes within two weeks after the BR and USE, statistically significant changes in the exchange rate variance within the first week after the BR, and changes in the causality relationship between the variables after each event.

The Asian Crises Reexamined

2004 ◽  
Vol 3 (3) ◽  
pp. 32-87 ◽  
Author(s):  
Thomas D. Willett ◽  
Ekniti Nitithanprapas ◽  
Isriya Nitithanprapas ◽  
Sunil Rongala
Keyword(s):  
Moral Hazard ◽  
Financial Markets ◽  
Exchange Rates ◽  
Current Account ◽  
Financial Liberalization ◽  
Short Term ◽  
Credit Expansion ◽  
Current Account Deficits ◽  
Large Current ◽  
New Evidence

This paper analyzes hypotheses and evidence for the causes of the Asian crises. It presents new evidence that, along with high rates of credit expansion and low ratios of international reserves to short-term debt, the combination of substantially appreciated currencies and large current account deficits played an important role in the crises' severity. Furthermore, the paper concludes that pre-crisis over-optimism rather than panic caused financial markets to behave imperfectly and that perverse financial liberalization and limited flexibility of exchange rates generated moral hazard problems of more importance than those generated by prospects of international bailouts.

Sign in / Sign up

Export Citation Format

Share Document