scholarly journals International Equity Portfolios and Currency Hedging: The Viewpoint of German and Hungarian Investors

2002 ◽  
Vol 32 (1) ◽  
pp. 171-197 ◽  
Author(s):  
Gyöngyi Bugár ◽  
Raimond Maurer
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Emerging Market ◽  
Currency Hedging ◽  
Portfolio Strategies ◽  
Different Types ◽  
International Equity ◽  
Good Potential ◽  
Points Of View ◽  
Equity Portfolios

AbstractIn this paper we study the benefits derived from international diversification of equity portfolios from the German and the Hungarian points of view. In contrast to the German capital market, which is one of the largest in the world, the Hungarian Stock Exchange is an emerging market. The Hungarian stock market is highly volatile, high returns are often accompanied by extremely large risk. Therefore, there is a good potential for Hungarian investors to realise substantial benefits in terms of risk reduction by creating multi-currency portfolios. The paper gives evidence on the above mentioned benefits for both countries by examining the performance of several ex ante portfolio strategies. In order to control the currency risk, different types of hedging approaches are implemented.

scholarly journals Optimal Currency Hedging for International Equity Portfolios

2019 ◽  
Vol 75 (4) ◽  
pp. 65-83 ◽  
Author(s):  
Jacob Boudoukh ◽  
Matthew Richardson ◽  
Ashwin Thapar ◽  
Franklin Wang
Keyword(s):  
Currency Hedging ◽  
International Equity ◽  
Equity Portfolios

scholarly journals Institutional investors’ response to improved corporate governance: Evidence from the brazilian capital market

2018 ◽  
Vol 64 (4) ◽  
pp. 135
Author(s):  
Eduardo Schiehll ◽  
Melissa Gerhard ◽  
Clea Beatriz Macagnan
Keyword(s):  
Corporate Governance ◽  
Capital Market ◽  
Institutional Investors ◽  
Stock Exchange ◽  
Emerging Market ◽  
Agency Cost ◽  
Data Set ◽  
Listed Firms ◽  
Internal Governance Mechanisms ◽  
Governance Quality

<p>This study examines whether normative pressures from stock market regulators to improve the governance quality of Brazilian listed firms influence the participation and activism of institutional investors. More specifically, we investigate the association between institutional investor’s ownership and firm’s voluntary adhesion to the São Paulo Stock Exchange (B3) differentiated levels of corporate governance quality. Empirical testing is performed on a ten-year (2002–2011) panel data set from a sample of 439 firms listed on the B3. Our findings suggest that firms in differentiated corporate governance levels, that is, with better level of transparency and commitment to monitoring, are more attractive to institutional investors. We interpret this result as evidence supporting the shareholder activism movement, attributed by several scholars to institutional shareholders. Our study contributes to the governance literature on the firm’s response to normative pressures and the ability of internal governance mechanisms to signal lower agency cost to capital market. Our evidence also contributes to the ongoing discussion about the role and influence of institutional investors in the functioning of capital markets, and more specific in emerging market like Brazil.</p>

Optimal Currency Hedging for International Equity Portfolios

2018 ◽  
Author(s):  
Jacob Boudoukh ◽  
Matthew P. Richardson ◽  
Ashwin K Thapar ◽  
Franklin Wang
Keyword(s):  
Currency Hedging ◽  
International Equity ◽  
Equity Portfolios

scholarly journals Study of Aggregate Dividends, Aggregate Earnings among Indian Companies: A Case of Emerging Market

2016 ◽  
Vol 7 (1) ◽  
pp. 125
Author(s):  
Nishant B. Labhane ◽  
Jitendra Mahakud
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Emerging Market ◽  
Jel Classification ◽  
Entire Sample ◽  
Global Trends ◽  
High Level ◽  
Propensity To Pay ◽  
Relationship Of ◽  
Number Of Firms

<p>This study examines the behavior of aggregate dividends and earnings for 781 sample firms listed on the National Stock Exchange (NSE) in Indian capital market for a period from 1995 to 2013. Although the number of dividend paying firms decreased, the aggregate dividends have increased manifold over the last two decades. Further, we notice a significant variation in the level of aggregate dividends and earnings between the standalone and business group affiliated firms. This implies the relevance of corporate relationship of firms in explaining their dividend behavior. We find evidence for dividend and earnings concentration for entire sample firms and within a sample of Indian firms identifiable with organizational forms reflecting these corporate relationships, with fewer firms paying most dividends. The dividend paying firms exhibit two groups between which one group, with small number of firms having high earnings contributes major proportion of total earnings collectively and influences the aggregate dividend supply. Our analysis exhibits strong correlation between a firm’s earnings and its dividend payout, where, the firms with high level of earnings are more likely to pay dividends while the firms suffering from losses are most likely to cut or omit the dividends. Finally, we do not find any evidence in support of reduced propensity to pay dividends in Indian capital market unlike the declining propensity to pay in global trends.</p><p><strong>JEL classification: </strong>G35; G30</p>

scholarly journals Offences and Procedures in the Iranian and United State Capital Markets

2020 ◽  
Vol 8 (2) ◽  
pp. 261
Author(s):  
Mahdi Ashourzadeh Chakusari ◽  
Mohsen Shekarchi Zadeh ◽  
Gholamhossein Masoud
Keyword(s):  
Economic Development ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Exchange ◽  
The Other ◽  
Economic Cycle ◽  
United State ◽  
Other Hand ◽  
Different Types ◽  
State Capital

Economic development in the today's societies has provided the bed for development of economic offences and consequently, the offences relevant to stock exchange. Today, one of the simplest and sometime safest ways to make money can be investment in field of stock exchange. Investing personal money through investment in economic cycle has helped economic cycle a lot and has prevented inflation and stagnation in this cycle and on the other hand, it has provided conditions for some offences. Stock exchange can be a good platform to commit classic offences such as betrayal of trust, theft and fraud and also can ease offences such as different types of fraud, cybercrimes and so on. Therefore, the governments have always thought about controlling and protecting the capital and the investors to prevent the chaos in the stock exchange and consequently, economy of the society. The actions of activists in the capital market, which are against the principles and regulations of the market, can be classified in 3 groups: 1. Regulative offences 2. Disputes 3. Offences. The occurrence of any of these acts is inevitable and can pave the way for distort of regulation and the security of governor on the investment activities of the states. Therefore, this study has attempted to consider the abovementioned issues as much as possible in Iran and US countries. Then, the study tends to analyze and investigate the supervising officials and tends at last to present types of lawsuits and procedures for them in field of stock exchange.

Crystal structure images of large gold clusters and growing crystals by HRTEM

1984 ◽  
Vol 42 ◽  
pp. 428-429
Author(s):  
L.R. Wallenberg ◽  
J.-O. Bovin ◽  
G. Schmid
Keyword(s):  
Crystal Structure ◽  
Nucleation And Growth ◽  
Close Packing ◽  
Gold Clusters ◽  
Molecular Weight Determination ◽  
Growth Mechanisms ◽  
Starting Point ◽  
Different Types ◽  
Nucleation And Growth Mechanisms ◽  
Points Of View

Metallic clusters are interesting from various points of view, e.g. as a mean of spreading expensive catalysts on a support, or following heterogeneous and homogeneous catalytic events. It is also possible to study nucleation and growth mechanisms for crystals with the cluster as known starting point.Gold-clusters containing 55 atoms were manufactured by reducing (C6H5)3PAuCl with B2H6 in benzene. The chemical composition was found to be Au9.2[P(C6H5)3]2Cl. Molecular-weight determination by means of an ultracentrifuge gave the formula Au55[P(C6H5)3]Cl6 A model was proposed from Mössbauer spectra by Schmid et al. with cubic close-packing of the 55 gold atoms in a cubeoctahedron as shown in Fig 1. The cluster is almost completely isolated from the surroundings by the twelve triphenylphosphane groups situated in each corner, and the chlorine atoms on the centre of the 3x3 square surfaces. This gives four groups of gold atoms, depending on the different types of surrounding.

Self-Presentation – A Precondition for Social Interactio (Theoretical Aspects)

2018 ◽  
Vol 6 (2) ◽  
Author(s):  
Nikolay Zhilkov
Keyword(s):  
Self Presentation ◽  
Erving Goffman ◽  
Different Types ◽  
Edward Jones ◽  
Current Article ◽  
Points Of View

The current article presents some of the theoretical aspects of self-presentation describing different points of view on the issue. The ideas of Erving Goffman, Edward Jones, Barry Schlenker, Roy Baumeister and others are being explored. Concepts related to to self-presentation are presented. Different types and functions of self-expression are identified.

IMPLIKASI RETURN ON EQUITY, RETURN ON ASSET, NET INCOME& DEBT TO EQUITY RATIO TERHADAP RETURN SAHAM PADA PERUSAHAAN PROPERTI

2018 ◽  
Vol 3 (1) ◽  
pp. 59-66
Author(s):  
Muhammad Richo Rianto
Keyword(s):  
Data Analysis ◽  
Capital Market ◽  
Stock Return ◽  
Stock Exchange ◽  
Secondary Data ◽  
Net Income ◽  
Return On Equity ◽  
Property Companies ◽  
Equity Ratio

The research aims to analyze the effect of  Return On Equity (ROE ), Return On Asset (ROA), Net Income (NI) and Debt to Equity  (DER) on partially and simultaneously to Return Investment (RI) in property companies. Data were collected from secondary data in the financial documentation of Indonesian Capital Market  Directory ( ICMD ) and also can download in the official website of the Indonesian Stock Exchange www. IDX.co.id. Data analysis was using Eviews version  7.1. The results show that: ROE, ROA, NI, and DER simultaneously significant effect on the property company’s stock return, but partially only ROE and DER variable that significantly effects on stock return. Keywords: Return on Equity, Return on Asset, Net Income, Debt to Equity, Return Investment

Trend of Trading at National Stock Exchange in Capital Market Segment

2020 ◽  
Author(s):  
Dr. Khyati Kochhar Kochhar ◽  
Abhilasha Gupta
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Market Segment
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