scholarly journals A pragmatic view on the financial theories

2018 ◽  
Vol 12 (1) ◽  
pp. 197-208
Author(s):  
Mihai Chișu
Keyword(s):  
Financial Markets ◽  
Nobel Prize ◽  
Investment Decision ◽  
Efficient Market Hypothesis ◽  
Daily Basis ◽  
Nobel Prize Winner ◽  
Financial Behavior ◽  
Future Research ◽  
John Maynard Keynes ◽  
Huge Data

Abstract This presentation reviews some real examples from a trading daily basis behavior proving the sentiment is one of the most important drivers when it comes to investment decision. During decades of studying and observing the financial markets we have seen different approaches in the light of many prestigious writers. Are we rational enough to be good candidates for Fama’s theory of Efficient Market Hypothesis? Is it true what John Maynard Keynes stated 90 years ago when he said „the market is subject to waves of optimistic and pessimistic sentiment”? Is the financial behavior the new trend in the financial markets? Are Daniel Kahneman (Nobel Prize winner 2002) and Amos Tversky the new challengers in the market theories league? Future research should concentrate on various symptoms of sentiment and what makes investors become prone to sentiment. This is an important issue to be debated since investors constantly have to analyze, process and interpret huge data of information which provides the basis for their actions.

A Competitive Approach to Financial Issues

2014 ◽  
pp. 385-398
Author(s):  
Mustafa Okur ◽  
A. Osman Gurbuz
Keyword(s):  
Financial Markets ◽  
Asset Prices ◽  
Abnormal Returns ◽  
Efficient Market Hypothesis ◽  
Future Research ◽  
Financial Asset ◽  
Efficient Market ◽  
Finance Theory ◽  
Available Information ◽  
Financial Issues

Efficient Market Hypothesis (EMH) is a cornerstone in modern finance theory. Efficient market hypothesis states that it is impossible to make abnormal returns in financial markets because financial asset prices always reflect all available information. This chapter was undertaken in order to give a brief survey of modern finance theory by mainly focusing on the efficient market hypothesis. The authors also discuss the empirical foundations of the efficient market hypothesis. Finally, the main challenges to the efficient market hypothesis are introduced in order to point out a perspective for future research.

scholarly journals Effect of Trading Companies Share on Investors' Attitude and Financial Behaviour

2021 ◽  
Author(s):  
Jawed Baloch ◽  
Urooj Fatima Syed ◽  
Muhammad Akram Lashari ◽  
Shafqat Aman Soomro
Keyword(s):  
Behavioral Finance ◽  
Stock Exchange ◽  
Investment Decision ◽  
Research Area ◽  
Financial Behavior ◽  
Future Research ◽  
Negative Experiences ◽  
Behavioral Loyalty ◽  
Research Framework ◽  
Positive Experiences

Pakistan is under developing country and it has an unpredictable market nature of shareholder-investors observe the company’s performance. This research could help to companies in understanding financial behavior, attitude and investors’ satisfaction in stock trade. Financial behavior is comparatively new subject in Pakistan therefore; this study has examined the financial behavior and attitude of investors. The behavioral finance that has been attempted to understand the positive experiences influences investors’ financial behavior. This study has find out that investor satisfaction is strongest in influence of positive financial behavior of investor and trader in stock trading; positive experience and brokers suggestions are strengthens the investment decision of investors and increases behavior loyalty to prefer over competitor. The main purpose of research to determine the effect of financial behavior on investors’ attitude and behavioral loyalty and investors’ satisfaction to preference over competitor. The research framework links with experiences in stock trade for positive (negative) experiences, attitude and financial behavior is developed. The research framework is measured data from sample of Karachi and Karachi Stock Exchange; the data is analyzed in smart PLS based on PLS-SEM. This study focused on trading experience with company’s active investors and traders in banking industry in Pakistan. The future research could be research in other sectors with inter-related issue of investors and traders (brokers) in stock trade. This is the first study in this research area; this study will be determine the experiences with positive (negative) financial behavior, attitude, satisfaction and behavioral loyalty of investors and traders in stock trade. Therefore, adding in this area of study which will help understanding the investors and traders attitude, preference and financial behavior in financial market.

A Competitive Approach to Financial Issues

2014 ◽  
pp. 173-186
Author(s):  
Mustafa Okur ◽  
A. Osman Gurbuz
Keyword(s):  
Financial Markets ◽  
Asset Prices ◽  
Abnormal Returns ◽  
Efficient Market Hypothesis ◽  
Future Research ◽  
Financial Asset ◽  
Efficient Market ◽  
Finance Theory ◽  
Available Information ◽  
Financial Issues

Efficient Market Hypothesis (EMH) is a cornerstone in modern finance theory. Efficient market hypothesis states that it is impossible to make abnormal returns in financial markets because financial asset prices always reflect all available information. This chapter was undertaken in order to give a brief survey of modern finance theory by mainly focusing on the efficient market hypothesis. The authors also discuss the empirical foundations of the efficient market hypothesis. Finally, the main challenges to the efficient market hypothesis are introduced in order to point out a perspective for future research.

scholarly journals Analysis of the cryptocurrency market using different prototype-based clustering techniques

2022 ◽  
Vol 8 (1) ◽  
Author(s):  
Luis Lorenzo ◽  
Javier Arroyo
Keyword(s):  
Financial Markets ◽  
Clustering Algorithms ◽  
Extended Period ◽  
Financial Behavior ◽  
Financial Ratios ◽  
Future Research ◽  
Clustering Techniques ◽  
Fine Grained ◽  
Partitional Clustering ◽  
Using Data

AbstractSince the emergence of Bitcoin, cryptocurrencies have grown significantly, not only in terms of capitalization but also in number. Consequently, the cryptocurrency market can be a conducive arena for investors, as it offers many opportunities. However, it is difficult to understand. This study aims to describe, summarize, and segment the main trends of the entire cryptocurrency market in 2018, using data analysis tools. Accordingly, we propose a new clustering-based methodology that provides complementary views of the financial behavior of cryptocurrencies, and one that looks for associations between the clustering results, and other factors that are not involved in clustering. Particularly, the methodology involves applying three different partitional clustering algorithms, where each of them use a different representation for cryptocurrencies, namely, yearly mean, and standard deviation of the returns, distribution of returns that have not been applied to financial markets previously, and the time series of returns. Because each representation provides a different outlook of the market, we also examine the integration of the three clustering results, to obtain a fine-grained analysis of the main trends of the market. In conclusion, we analyze the association of the clustering results with other descriptive features of cryptocurrencies, including the age, technological attributes, and financial ratios derived from them. This will help to enhance the profiling of the clusters with additional descriptive insights, and to find associations with other variables. Consequently, this study describes the whole market based on graphical information, and a scalable methodology that can be reproduced by investors who want to understand the main trends in the market quickly, and those that look for cryptocurrencies with different financial performance.In our analysis of the 2018 and 2019 for extended period, we found that the market can be typically segmented in few clusters (five or less), and even considering the intersections, the 6 more populations account for 75% of the market. Regarding the associations between the clusters and descriptive features, we find associations between some clusters with volume, market capitalization, and some financial ratios, which could be explored in future research.

The Legacy of the Outstanding Economist (The Centenary of Maurice Allais)

2011 ◽  
pp. 4-15
Author(s):  
A. Belyanin ◽  
I. Egorov
Keyword(s):  
Present Article ◽  
Nobel Prize ◽  
Nobel Prize Winner ◽  
Contemporary Science

The paper is devoted to Maurice Allais, the Nobel prize winner and one of the most original and deep-thinking economist whose centenary is celebrated this year. The authors describe his contributions to economics, and his place in contemporary science - economics and physics, as well as his personality and philosophy. Scientific works by Allais, albeit translated into Russian, still remain little known. The present article aims to fill this gap and to pay tribute to this outstanding intellectual and academic, who deceased last year, aged 99.

Galilean Reflections on Milton Friedman’s "Methodology of Positive Economics", with Thoughts on Vernon Smith’s "Economics in the Laboratory"

2007 ◽  
pp. 55-70 ◽  
Author(s):  
E. Schliesser
Keyword(s):  
Experimental Evidence ◽  
Experimental Economics ◽  
Nobel Prize ◽  
Free Fall ◽  
Nobel Prize Winner ◽  
Theoretical Physics ◽  
History Of ◽  
Positive Economics

The article examines in detail the argument of M. Friedman as expressed in his famous article "Methodology of Positive Economics". In considering the problem of interconnection of theoretical hypotheses with experimental evidence the author illustrates his thesis using the history of the Galilean law of free fall and its role in the development of theoretical physics. He also draws upon methodological ideas of the founder of experimental economics and Nobel prize winner V. Smith.

Inherent tensions in chemistry

2018 ◽  
Vol 9 (3) ◽  
pp. 177
Author(s):  
Joachim Schummer
Keyword(s):  
Nobel Prize ◽  
Nobel Prize Winner ◽  
Philosophy Of Chemistry

<span>If you expect a Nobel prize winner being a crank who can think of nothing but his subject, then read Roald Hoffmann's The Sume and Not the Sameand test your hypothesis. This book is about chemistry, to be sure-but in the broadest scope including sociology, psychology, ethics and philosophy of chemistry.</span>

Roger Sperry—1981 Nobel Prize Winner

1995 ◽  
Vol 70 (4) ◽  
pp. 349
Author(s):  
Marc A. Shampo ◽  
Robert A. Kyle
Keyword(s):  
Nobel Prize ◽  
Nobel Prize Winner

scholarly journals Stock Market Reaction to COVID-19: Evidence in Customer Goods Sector with the Implication for Open Innovation

2020 ◽  
Vol 6 (4) ◽  
pp. 99
Author(s):  
Zaky Machmuddah ◽  
St. Dwiarso Utomo ◽  
Entot Suhartono ◽  
Shujahat Ali ◽  
Wajahat Ali Ghulam
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Practical Implication ◽  
Efficient Market Hypothesis ◽  
Future Research ◽  
Observation Data ◽  
Economic Sectors ◽  
Significant Difference ◽  
Before And After ◽  
Long Term Impact

The coronavirus pandemic has spread all over the world, affecting both the health and economic sectors. The aim of this research was to observe stock prices of customer goods before and after the COVID-19 pandemic using event study and the comparison test. The sample included data of daily closing stock prices and volume of stock trade during the three months before (−90 days) and after (+90 days) the occurrence of the COVID-19 pandemic ongoing, totaling 2670 observation data both before and after the COVID-19 pandemic, for a total of 5340. The research findings indicate a significant difference between the daily closing stock price and volume of stock trade before and after the COVID-19 pandemic. The current research has both theoretical and practical implications: the findings strengthen the efficient market hypothesis, which states that the more complete the provided information, the more efficient the market. The practical implication is that investors should be careful when choosing to invest. Investors should choose customer goods sector companies that provide products that are much needed by customers, for example, pharmacy, food, beverages, etc. Future research is needed to investigate the long-term impact of the pandemic on the economy.

Sign in / Sign up

Export Citation Format

Share Document