scholarly journals Green Bond Finance in Europe and the Stock Market Reaction

2021 ◽  
Vol 39 (3) ◽  
Author(s):  
Juan Laborda ◽  
Álvaro Sánchez-Guerra
Keyword(s):  
Financial Markets ◽  
Time Window ◽  
Central Banks ◽  
Financial Resource ◽  
Share Prices ◽  
Event Time ◽  
Stock Market Reaction ◽  
Green Finance ◽  
Bond Issues ◽  
Before And After

This paper examines the increasing importance of green, social and sustainable bonds in the financial markets. We first detail the theoretical framework, introducing sustainable development and green finance; relating green bonds to both ecological economics literature, and the central banks perspective; and, finally, analyzing the green bonds efficiency as a financial resource. Afterwards, we estimate the effect of green bond issues on the companies share’s price. So we collect the companies share’ prices around the announcement of the issue. Then we build an event time window with different time ranges before and after the announcement with the accumulated returns in order to be able to observe the reaction in the market in different stages. We demonstrate that the announcement of a green bond has a positive reaction in the market by increasing the return on shares of green bond issuing

((((((, , ) (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

Research on pull-type multi-AGV system dynamic path optimization based on time window

2021 ◽  
pp. 095440702098271
Author(s):  
Hongying Shan ◽  
Chuang Wang ◽  
Cungang Zou ◽  
Mengyao Qin
Keyword(s):  
Path Planning ◽  
Time Window ◽  
Planning Problem ◽  
Dijkstra Algorithm ◽  
Before And After ◽  
Common Planning ◽  
Planning Algorithm ◽  
Dynamic Path ◽  
Set Up ◽  
Path Planning Algorithm

This paper is a study of the dynamic path planning problem of the pull-type multiple Automated Guided Vehicle (multi-AGV) complex system. First, based on research status at home and abroad, the conflict types, common planning algorithms, and task scheduling methods of different AGV complex systems are compared and analyzed. After comparing the different algorithms, the Dijkstra algorithm was selected as the path planning algorithm. Secondly, a mathematical model is set up for the shortest path of the total driving path, and a general algorithm for multi-AGV collision-free path planning based on a time window is proposed. After a thorough study of the shortcomings of traditional single-car planning and conflict resolution algorithms, a time window improvement algorithm for the planning path and the solution of the path conflict covariance is established. Experiments on VC++ software showed that the improved algorithm reduces the time of path planning and improves the punctual delivery rate of tasks. Finally, the algorithm is applied to material distribution in the OSIS workshop of a C enterprise company. It can be determined that the method is feasible in the actual production and has a certain application value by the improvement of the data before and after the comparison.

scholarly journals Impact of COVID-19 pandemic on HIV viremia: a single-center cohort study in northern Italy

2021 ◽  
Vol 18 (1) ◽  
Author(s):  
Ilaria Izzo ◽  
Canio Carriero ◽  
Giulia Gardini ◽  
Benedetta Fumarola ◽  
Erika Chiari ◽  
...  
Keyword(s):  
Time Window ◽  
Time Windows ◽  
Continuum Of Care ◽  
Northern Italy ◽  
Hiv Diagnosis ◽  
Hiv Patients ◽  
Before And After ◽  
Missed Visits ◽  
Hiv Continuum Of Care ◽  
The Impact

Abstract Background Brescia Province, northern Italy, was one of the worst epicenters of the COVID-19 pandemic. The division of infectious diseases of ASST (Azienda Socio Sanitaria Territoriale) Spedali Civili Hospital of Brescia had to face a great number of inpatients with severe COVID-19 infection and to ensure the continuum of care for almost 4000 outpatients with HIV infection actively followed by us. In a recent manuscript we described the impact of the pandemic on continuum of care in our HIV cohort expressed as number of missed visits, number of new HIV diagnosis, drop in ART (antiretroviral therapy) dispensation and number of hospitalized HIV patients due to SARS-CoV-2 infection. In this short communication, we completed the previous article with data of HIV plasmatic viremia of the same cohort before and during pandemic. Methods We considered all HIV-patients in stable ART for at least 6 months and with at least 1 available HIV viremia in the time window March 01–November 30, 2019, and another group of HIV patients with the same two requisites but in different time windows of the COVID-19 period (March 01–May 31, 2020, and June 01–November 30, 2020). For patients with positive viremia (PV) during COVID-19 period, we reported also the values of viral load (VL) just before and after PV. Results: the percentage of patients with PV during COVID-19 period was lower than the previous year (2.8% vs 7%). Only 1% of our outpatients surely suffered from pandemic in term of loss of previous viral suppression. Conclusions Our efforts to limit the impact of pandemic on our HIV outpatients were effective to ensure HIV continuum of care.

scholarly journals The Effect of FOMC Votes on Financial Markets

2019 ◽  
Vol 101 (5) ◽  
pp. 921-932
Author(s):  
Carlos Madeira ◽  
João Madeira
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Financial Markets ◽  
Interest Rates ◽  
Stock Prices ◽  
Open Market ◽  
Federal Open Market Committee ◽  
2008 Financial Crisis ◽  
Treasury Securities ◽  
Stock Market Reaction

This paper shows that since votes of members of the Federal Open Market Committee have been included in press statements, stock prices increase after the announcement when votes are unanimous but fall when dissent (which typically is due to preference for higher interest rates) occurs. This pattern started prior to the 2007–2008 financial crisis. The differences in stock market reaction between unanimity and dissent remain, even controlling for the stance of monetary policy and consecutive dissent. Statement semantics also do not seem to explain the documented effect. We find no differences between unanimity and dissent with respect to impact on market risk and Treasury securities.

scholarly journals The Impact Of Defeasance On Bond Prices

2011 ◽  
Vol 4 (3) ◽  
pp. 15
Author(s):  
James A. Seifert ◽  
David E. Mielke
Keyword(s):  
Financial Markets ◽  
Corporate Debt ◽  
Bond Prices ◽  
Price Changes ◽  
Before And After ◽  
Time Periods ◽  
Changes In Risk ◽  
The Impact

This study reports on the financial markets reaction to the defeasance of corporate debt and whether the market perceives a changes in risk as a result of this activity. The prices of seventeen bonds both before and after defeasance were analyzed using t-tests to determine if any significant price changes related to the act of defeasance occurred between these two time periods. Contrary to what might be expected no significant differences were found.

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 Legal Nature and Role of Swap Arrangements and Options as Financial Instruments

2019 ◽  
Vol 57 (4) ◽  
pp. 459-480
Author(s):  
Ružica Petrović ◽  
Tamara Milenković Kerković ◽  
Dragana Radenković Jocić
Keyword(s):  
Interest Rate ◽  
Financial Markets ◽  
Financial Innovation ◽  
Fixed Time ◽  
Financial Derivatives ◽  
Bank Loans ◽  
Bond Issues ◽  
Legal Nature ◽  
The Right ◽  
Exclusive Right

AbstractFinancial derivatives are, in the last forty years, the most important financial innovation that influence the creation of new, very deep and broad financial markets. Their number is constantly increasing. There is a creation of new variants of existing derivative contracts and therefore the subjects have the opportunity to differently manage risk. Although their controversial legal nature, generally accepted view is that they were contracts. Swap is the youngest of all financial derivatives and represents a financial innovation of a later date. Market swaps recorded one of the fastest growth rate among global financial markets. Swap represents a private agreement between the two parties regarding exchange cash flow of the fixed time in the future in accordance with a predetermined pattern. The most common users of swaps are non-financial corporations, which want to receive variable, and to pay a fixed interest rate in order to limit interest expenses on bank loans or bond issues with variable interest rate, as well as banks, the governments of some supranational institutions such as the World Bank. In economic theory emphasized is the view that the comparative advantage is the basis for swaps functioning. Options are contracts in which one party has the exclusive right, while the other contracting party assumes only the obligation to buy or sell assets to which the option is created. In the nationa legislation the option contract is transferable standardized contract binding the buyer has the right to, including the payment obligation of the agreed premium on the day or days of maturity specified in the contract.

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.

Regulation and Regulators, 1993–2006

2020 ◽  
pp. 267-297
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Central Banks ◽  
Data Handling ◽  
Financial Systems ◽  
Settlement Systems ◽  
The Face ◽  
Implicit Belief ◽  
National Boundaries ◽  
Financial Transactions

By the 1990s the combination of internal deregulation and globalization led to a spectacular growth in the value of financial transactions both inside countries and across borders. There was a commensurate increase in pressure on payment and settlement systems to cope with the huge volume and variety of transactions. All this was of concern to those who regulated financial systems around the world. The speed and extent of the changes taking place, assisted by the advances made in the technology of communication and data handling, forced regulators to search for new ways of coping with the consequences, as the methods of the past were becoming inadequate. Globalization meant that national boundaries could no longer define the parameters within which financial systems operated, as all became integrated into international flows of short-term money and long-term finance. The complexities arose not only from the process of globalization and technological change but also from the disappearance of the barriers that had long separated different components within national financial systems. Rather than serving separate communities banks and financial markets increasingly competed with each other. In the face of these enormous changes regulators turned to the megabanks as a safe and secure way of monitoring and policing global financial markets. There was an implicit belief that the size and sophistication of these megabanks had made them to big to fail or even require the central banks to play a role as lenders of last resort.

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