scholarly journals Influence of world stock markets on the development of the stock market in Ukraine

2021 ◽  
Vol 18 (4) ◽  
pp. 223-240
Author(s):  
Inna Shkolnyk ◽  
Serhiy Frolov ◽  
Volodymyr Orlov ◽  
Viktoriia Dziuba ◽  
Yevgen Balatskyi
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Mutual Influence ◽  
Stock Exchanges ◽  
World Federation ◽  
Pairwise Correlation ◽  
Stock Market Performance ◽  
The Us ◽  
The World ◽  
Global Stock Markets

Viewing the development of the stock market in Ukraine, the economy, which world financial organizations characterize as small and open, is largely determined by the trends formed by the global stock markets and leading stock exchanges. Therefore, the study aims to analyze Ukraine’s stock market, the world stock market, stock markets in the regions, and to assess their mutual influence. The study uses the data of the World Federation of Exchanges and National Securities and Stock Market Commission (Ukraine) from 2015 to 2020. Stock market performance forecasts are built using triple exponential smoothing. Based on pairwise correlation coefficients, the existence of a significant dependence in the development of the world stock market on the development of the American stock market was determined. Regarding the Ukrainian stock exchanges, only SE “PFTS” demonstrated its dependence on the US stock market. The results of the regression model based on an exponentially smoothed series of trading volumes in all markets showed that variations in the volume of trading on the world stock market are due to the situation on the US stock markets. Trading volume dynamics on Ukrainian stock exchanges such as SE “PFTS” and SE “Perspektiva” is almost 50% determined by the development of stock markets in the American region. Although Ukraine is geographically located in Europe, the results show a lack of significant links and the impacts of stock markets in this region on the major Ukrainian stock exchanges and the stock market as a whole.

scholarly journals Opportunity or Crisis? Volatility and Leverage Effect in the World’s Largest Economies

2019 ◽  
Vol 9 (4) ◽  
pp. 1
Author(s):  
Amalendu Bhunia ◽  
Devrim Yaman
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Market Volatility ◽  
Future Market ◽  
Market Returns ◽  
Stock Market Returns ◽  
The Us ◽  
The World ◽  
The Impact ◽  
The Relationship

This paper examines the relationship between asset volatility and leverage for the three largest economies (based on purchasing power parity) in the world; US, China, and India. Collectively, these economies represent Int$56,269 billion of economic power, making it important to understand the relationship among these economies that provide valuable investment opportunities for investors. We focus on a volatile period in economic history starting in 1997 when the Asian financial crisis began. Using autoregressive models, we find that Chinese stock markets have the highest volatility among the three stock markets while the US stock market has the highest average returns. The Chinese market is less efficient than the US and Indian stock markets since the impact of new information takes longer to be reflected in stock prices. Our results show that the unconditional correlation among these stock markets is significant and positive although the correlation values are low in magnitude. We also find that past market volatility is a good indicator of future market volatility in our sample. The results show that positive stock market returns result in lower volatility compared to negative stock market returns. These results demonstrate that the largest economies of the world are highly integrated and investors should consider volatility and leverage besides returns when investing in these countries.

scholarly journals The mechanism of integration of the Ukrainian stock market in the world stock market

2020 ◽  
Vol 157 ◽  
pp. 04034
Author(s):  
Anna Slobodianyk ◽  
George Abuselidze ◽  
Lyudmyla Tarasovych
Keyword(s):  
Stock Market ◽  
National Economy ◽  
Stock Markets ◽  
Market Integration ◽  
Functional Model ◽  
State Regulation ◽  
Global Integration ◽  
The World ◽  
Priority Direction ◽  
Global Stock Markets

The article is devoted to structuring and improving the methodological foundations of the mechanism of state regulation of the stock market. Priority directions for the development of the stock market are determined in order to strengthen its role in stabilization of the national economy. As a result, a structural and functional model of stock market operation in the system of economic development of the country was elaborated. It involves ensuring the legitimate access of national companies to the global stock markets while attracting foreign investors to the Ukrainian stock market. The authors argue that the mechanism of the national stock market integration involves several stages: from enhancing international cooperation primarily with the stock markets of countries that are strategic partners, subsequent full participation in regional and subregional integration associations of stock markets, up to global integration in the world stock market as a priority direction for the development of the domestic stock market in the context of stabilization of the national economy.

Review of top five financial markets during the pandemic times

2021 ◽  
pp. 2131001
Author(s):  
Tahir Mumtaz Awan ◽  
Jamal Maqsood
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Market News ◽  
Stock Markets ◽  
Stock Exchanges ◽  
Future Market ◽  
Virus Origin ◽  
The World ◽  
Global Stock Markets ◽  
Global Stock

The purpose of this paper is to jot down the devastating impacts of COVID-19 towards the top five financial markets of the world and to see how they reacted back in different phases of COVID-19 from start till July 2020. The review is based on the financial market news, blogs, the governmental, and other financial bodies’ websites. The effects of the pandemic are like the damage never seen before in a much shorter time, vanishing a quarter portion of wealth in about a month and creating continuous uncertainties for investors throughout. China despite being the virus origin still performed well and better among all top markets whereas the rest all the stock exchanges remained inconsistent. This paper is the first of its kind to review the COVID-19 effects on the top five global stock markets and the governmental responses towards them. The study along with contributing to the existing literature is also assisting investors, analysts, specialists, and authorities to analyze their opinions w.r.t. stock markets performances, government responses, and their future market-related decisions.

An Inquiry into the Persistence of Turn-of-the-Month Effect on Stock Markets in India: Insights and Perspectives on a Seasonal Anomaly

2021 ◽  
pp. 227853372199471
Author(s):  
Meher Shiva Tadepalli ◽  
Ravi Kumar Jain ◽  
and Bhimaraya A. Metri
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Stock Markets ◽  
Stock Exchange ◽  
Academic Research ◽  
Abnormal Returns ◽  
Stock Exchanges ◽  
Specific Class ◽  
Seasonal Behavior ◽  
Global Stock Markets

Asset pricing in capital markets is a strikingly vibrant area of academic research and is considered as an indicator to evaluate the efficiency of stock markets. Though the explanation for the seasonal behavior of capital markets was attempted by various market models, several anomalies were observed historically. Calendar anomalies that belong to the specific class of seasonal anomalies provided abnormal returns in the global stock markets at regular intervals within and across various calendar years. This article documents the study on one such anomaly—namely, the turn-of-the-month effect in the context of Indian stock indices. In this pursuit, exhaustive research has been carried out considering all the broad-market and sectoral indices of two major stock exchanges, namely, National Stock Exchange and the Bombay Stock Exchange. The study used the ARIMAX methodology with dummy exogenous variables (to represent the turn-of-the-month days) and presented comprehensive findings and learnings. Besides, this article attempts to analyze the changes in the strength and significance of the anomaly in progression with various stock market reforms in both the broad-market and sectoral indices to provide new insights into the efficiency of Indian stock market exchanges.

scholarly journals THE IMBALANCES AND DISPRPORTIONS OF THE WORLD AND DOMESTIC SECURITY MARKETS

2020 ◽  
Author(s):  
Iryna Rohovska-Ishchuk ◽  
Anna Martyniuk
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
World Market ◽  
Stock Exchanges ◽  
Security Market ◽  
Domestic Security ◽  
Security Markets ◽  
The World ◽  
High Standards ◽  
International Transactions

The modern structure of the world security market and peculiarities of domestic market development are investigated. The stock market imbalance was identified and clearly demonstrated. Imbalances in the development of securities markets in different regions of the world are manifested, both in market capitalization and in transaction volumes, in the nature of transactions, in the variety of financial instruments, etc. The assessment of the structure of the world market made it possible to identify regional peculiarities of the stock markets. Current trends in the development of leading stock exchanges are analyzed. There is a tendency to increase operations with financial derivatives and increase the value of international transactions The dynamics and structure of the Ukrainian stock market have been analyzed and a number of its features have been identified: insignificant volumes of securities transactions, predominance of government debt securities in the market structure, insignificant use of derivatives both for hedging and for speculative purposes. The problem of exit and stay of Ukrainian issuers and traders on international stock exchanges is investigated. It is a complicated listing process, requires significant investment and high standards. The signs of disproportionality and imbalance of world and domestic stock markets, which have different origin and causes, are revealed.

scholarly journals Analysis of the effect of coronavirus (covid-19) on the development of the world economic system

2020 ◽  
Vol 3 (11) ◽  
pp. 143-156
Author(s):  
N.M. Makhmudov ◽  
Alimova Guzal Alisherovna ◽  
A.A. Kazakov
Keyword(s):  
Economic System ◽  
Stock Markets ◽  
The World Bank ◽  
The Us ◽  
The World ◽  
World Economic ◽  
Global Stock Markets ◽  
National Economies ◽  
The Impact ◽  
Global Stock

The article provides a comprehensive analysis of the impact of the coronavirus COVID-19 on the global economic system. In particular, the authors analyze the onset of a pandemic and the characteristics of the new coronavirus. The conclusions about the unpreparedness of the world community for global threats caused by the outbreak of the disease are supported by the World Bank's arguments about the unpreparedness of countries for catastrophic epidemics. The authors combined the main threats identified by the World Bank into a single system. COVID-19 has had a significant impact on global stock markets. With the increase in the number of people infected with coronavirus, the tension among investors also grew. By the end of February this year, a crash occurred in the US stock markets, the authors attribute it to an underestimation of the spread of the virus, and as a result, this led to the breakdown of many trading chains and the lack of certainty and stability. The article also analyzes the impact of coronavirus on the economy of key countries of the world. It also examined the economic mechanisms used by these countries to mitigate the effects of COVID-19 and support the economy. In conclusion, key conclusions were drawn about the impact and consequences of COVID-19 on national economies and the global system.

Analyzing Variations in Global Stock Markets

2015 ◽  
Vol 9 (1and2) ◽  
Author(s):  
Ms. Sakshi Saxena ◽  
Ms. Pranjali Sharma
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Stock Markets ◽  
Developed Countries ◽  
Asia Pacific ◽  
Stock Exchanges ◽  
Political Events ◽  
Time Period ◽  
Significant Difference ◽  
Global Stock Markets

Fluctuations in financial markets have always been the subject of concern for academicians and practioners. Wide price fluctuations are a daily occurrence on the world's stock markets as investors react to economic, business, and political events. The soaring stock prices around the globe have taken valuations of stocks to unreachable heights. The present study is an attempt to analyse the volatility present in stock markets of Asia Pacific region and other developed countries. Data for the time period 2005-2013 has been collected to analyse the same. Coefficient of variation, Ttest and GARCH (1, 1) model has been used to investigate the variations in the stock markets. The results support the fact that there is no significant difference in volatility between stock exchanges within specific except between Germany stock market and US stock market. GARCH (1,1) provides that US stock market is the most volatile followed by India.

scholarly journals Co-integration of Karachi Stock Exchange with major South Asian Stock Exchanges

2014 ◽  
Vol 4 (1) ◽  
pp. 106
Author(s):  
Salleh Nawaz Khan ◽  
Mohamad Saad Aslam
Keyword(s):  
Stock Market ◽  
South Asia ◽  
South Asian ◽  
Stock Markets ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
Cross Listing ◽  
The World ◽  
The Subject ◽  
China And Japan

International cross  listing have   amplified  the interest of  academics   and  investors  to the subject  of  co movement among  the  stock  markets of  the world . This  study  investigates the co integration of  Pakistan stock exchange (KSE 100 index) with  major stock exchanges of south Asia . The results reveals that there is no co integration  of  Pakistan’s stock  market  (KSE100  index)  with china and  Japan stock markets.  However   there  is co integration of Pakistan’s stock market (KSE 100 index) with the stock market of India, Indonesia, Malaysia and Singapore. 

scholarly journals Which global stock indices trigger stronger contagion risk in the Vietnamese stock market? Evidence using a bivariate analysis

2013 ◽  
Vol 60 (4) ◽  
pp. 473-497 ◽  
Author(s):  
Kuan-Min Wang ◽  
Hung-Cheng Lai
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Correlation Coefficients ◽  
Bivariate Analysis ◽  
Contagion Effects ◽  
Daily Data ◽  
The Us ◽  
Egarch Model ◽  
Bivariate Egarch Model ◽  
Contagion Risk

This paper extends recent investigations into risk contagion effects on stock markets to the Vietnamese stock market. Daily data spanning October 9, 2006 to May 3, 2012 are sourced to empirically validate the contagion effects between stock markets in Vietnam, and China, Japan, Singapore, and the US. To facilitate the validation of contagion effects with market-related coefficients, this paper constructs a bivariate EGARCH model of dynamic conditional correlation coefficients. Using the correlation contagion test and Dungey et al.?s (2005) contagion test, we find contagion effects between the Vietnamese and four other stock markets, namely Japan, Singapore, China, and the US. Second, we show that the Japanese stock market causes stronger contagion risk in the Vietnamese stock market compared to the stock markets of China, Singapore, and the US. Finally, we show that the Chinese and US stock markets cause weaker contagion effects in the Vietnamese stock market because of stronger interdependence effects between the former two markets.

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