scholarly journals The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)

2018 ◽  
Vol 11 (1) ◽  
pp. 155-169 ◽  
Author(s):  
Yakov M. Mirkin ◽  
Karina M. Lebedeva
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Real Exchange Rates ◽  
Oil Prices ◽  
Statistical Modelling ◽  
Secondary Importance ◽  
Cause And Effect ◽  
The Us ◽  
Global Investors

The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of Latin America (through the lens of stock markets and national currencies). The cause and effect mechanisms of this dependency are examined. We characterize the countries as analogous substitutes for investors (abundant similarities include: models of collective behaviour, ideology, model and structure of the economy, model of the financial sector, highly speculative markets in shares and currencies). The article explains an extremely limited role of the internal (primarily retail) investors in determining dynamics of the financial market. The central role of non-resident actors (global financial institutions and institutional investors) in the dynamics of the markets of Russian and Brazil is established. We demonstrate that for Russia and Brazil sources of foreign portfolio investments coincide. This includes Anglo-Saxon centers, specifically the US and British offshore jurisdictions, and the global centers of secondary importance (the Netherlands and Luxembourg). The decision making models of global investors in Russian and Brazil are examined: stock prices are driven by the oil prices, and in part by the US stock market, and rouble and real exchange rates follows oil prices and the EUR-USD currency pair. Analysis and conclusions made in the article are supported by a significant volume of statistical modelling. 

scholarly journals Financial Markets’ Governance, Transparency and Informational Efficiency: Role of IfRS Norms, Auditors and Financial Analysts

2016 ◽  
Vol 9 (5) ◽  
pp. 100
Author(s):  
Imen Lamiri ◽  
Adel Boubaker
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Stock Price ◽  
Financial Analysts ◽  
Negative Relationship ◽  
Developed Countries ◽  
Coefficient Of Determination ◽  
Specific Information ◽  
Informational Efficiency

<p>This article explores the informational role of three essential modern financial markets actors such IFRS norms, the Big”4” and the financial analysts for a panel of emergent and developed countries during the period from 2001 to 2010. We hypothesis that these mechanisms help improving the quality of specific information incorporated into stock prices measured by the stock price synchronicity (SPS). The main result is that both financial analyst’s coverage and IFRS adoption's effects seem to be stronger for emerging than developed markets. The results also show a negative relationship between auditors’ opinion and coefficient of determination (R<sup>2</sup>).</p>

scholarly journals Implikationen der neuen europäischen Ökonomie

2006 ◽  
Vol 36 (144) ◽  
pp. 325-341 ◽  
Author(s):  
Hans-Jürgen Bieling
Keyword(s):  
Financial Markets ◽  
European Integration ◽  
Financial Integration ◽  
Dominant Role ◽  
Economic Indicators ◽  
Securities Markets ◽  
The Us ◽  
Mode Of Operation

From the mid 1980s onwards, successive deepening and widening of European integration has led to the emergence of a new European economy. Its mode of operation is increasingly subjected to the dynamics of global and European financial markets. This article addresses the question inasmuch financial integration has an impact on the transformation of continental European systems of production and innovation. It argues that this impact is rather negative. For, although financial integration is geared towards the US model, it is not able to capitalise on its economic advantages. On the contrary, economic indicators underline that the previous productive strength and innovative ability of continental European systems are impaired by the dominant role of securities markets.

scholarly journals Energy crypto currencies and leading U.S. energy stock prices: are Fibonacci retracements profitable?

2022 ◽  
Vol 8 (1) ◽  
Author(s):  
Ikhlaas Gurrib ◽  
Mohammad Nourani ◽  
Rajesh Kumar Bhaskaran
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Oil Prices ◽  
Technical Analysis ◽  
Price Increases ◽  
Current Break ◽  
Study Methodology ◽  
Energy Companies ◽  
Better Than

AbstractThis paper investigates the role of Fibonacci retracements levels, a popular technical analysis indicator, in predicting stock prices of leading U.S. energy companies and energy cryptocurrencies. The study methodology focuses on applying Fibonacci retracements as a system compared with the buy-and-hold strategy. Daily crypto and stock prices were obtained from the Standard & Poor's composite 1500 energy index and CoinMarketCap between November 2017 and January 2020. This study also examined if the combined Fibonacci retracements and the price crossover strategy result in a higher return per unit of risk. Our findings revealed that Fibonacci retracement captures energy stock price changes better than cryptos. Furthermore, most price violations were frequent during price falls compared to price increases, supporting that the Fibonacci instrument does not capture price movements during up and downtrends, respectively. Also, fewer consecutive retracement breaks were observed when the price violations were examined 3 days before the current break. Furthermore, the Fibonacci-based strategy resulted in higher returns relative to the naïve buy-and-hold model. Finally, complementing Fibonacci with the price cross strategy did not improve the results and led to fewer or no trades for some constituents. This study’s overall findings elucidate that, despite significant drops in oil prices, speculators (traders) can implement profitable strategies when using technical analysis indicators, like the Fibonacci retracement tool, with or without price crossover rules.

scholarly journals Company fundamentals and stock price movements: The role of crude oil prices – Evidence from Nigerian Stock Exchange (NSE)

2020 ◽  
Vol 3 (1) ◽  
pp. 1-13
Author(s):  
Tijjani Bashir Musa
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Panel Study ◽  
Oil Prices ◽  
Secondary Source ◽  
Linear Regression Models ◽  
Price Movements ◽  
Stock Price Movements

This study analyzed company fundamentals on how it relates and predict stock price movements and the extent of the role of oil prices in moderating the influence of these company fundamentals in stock price movements. The study covered the period of 2014 to 2018. The study is a panel study. A total of 132 companies were sampled from 196 companies listed on the Nigerian Stock Exchange (NSE) as of December 2018. Data were collected from a secondary source. Multiple linear regression models were used to analyze the data. The study found that a relationship exists between selected companies' fundamentals and stock prices, and oil prices moderate the relationship. But EPS and Working Capital have high predictive power on stock price movements but moderating with oil prices the influence reduces significantly. The study recommends among others that Managers of companies in Nigeria should formulate policies and exert effort geared towards improving company fundamentals in the event of oil prices increases.

The Role of Financial Markets in Determining Physical Oil Prices: A Survey of the Literature

2011 ◽  
Author(s):  
Louis H. Ederington ◽  
Chitru S. Fernando ◽  
Thomas K. Lee ◽  
Scott C. Linn ◽  
Anthony D. May
Keyword(s):  
Financial Markets ◽  
Oil Prices
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