scholarly journals VIX Futures as a Market Timing Indicator

2019 ◽  
Vol 12 (3) ◽  
pp. 113 ◽  
Author(s):  
Fassas ◽  
Hourvouliades
Keyword(s):  
Empirical Analysis ◽  
Term Structure ◽  
Financial Market ◽  
Market Timing ◽  
Investor Sentiment ◽  
Vix Futures ◽  
Equity Price ◽  
The Empirical Analysis ◽  
Practical Implications ◽  
Stock Market Timing

Our work relates to the literature supporting that the VIX also mirrors investor sentiment and, thus, contains useful information regarding future S&P500 returns. The objective of this empirical analysis is to verify if the shape of the volatility futures term structure has signaling effects regarding future equity price movements, as several investors believe. Our findings generally support the hypothesis that the VIX term structure can be employed as a contrarian market timing indicator. The empirical analysis of this study has important practical implications for financial market practitioners, as it shows that they can use the VIX futures term structure not only as a proxy of market expectations on forward volatility, but also as a stock market timing tool.

scholarly journals The level of risk disclosure in listed banks: Evidence from Saudi Arabia

2016 ◽  
Vol 14 (1) ◽  
pp. 175-194 ◽  
Author(s):  
Abdullah Al-Maghzom ◽  
Khaled Hussainey ◽  
Doaa Aly
Keyword(s):  
Saudi Arabia ◽  
Empirical Analysis ◽  
Risk Information ◽  
Annual Reports ◽  
Islamic Banks ◽  
Risk Disclosure ◽  
Reporting Practices ◽  
The Empirical Analysis ◽  
Practical Implications ◽  
Level Of Risk

This study contributes to the existing risk disclosure literature in emerging economies, in particular Saudi Arabia (SA), by examining the levels of risk disclosure in the annual reports of both Islamic and non-Islamic listed banks. This investigation uses a manual content analysis method to examine all Saudi listed banks from 2009 to 2013. This study also develops two holistic risk disclosure indices to measure the levels of risk disclosure in both Islamic and non-Islamic banks. The empirical analysis shows that Islamic banks report less risk information than non-Islamic banks. However, the analysis also reveals that both Islamic and non-Islamic banks report relatively the same amount of risk information regarding the banks’ universal items. Furthermore, the empirical analysis shows that Islamic banks report very low risk disclosure items. The study’s findings have practical implications. They inform the regulators about the current level of risk disclosure in all Saudi listed banks (Islamic and non-Islamic). For example, the findings show that Islamic banks report less risk information than their non-Islamic counterparts. The practical implications for managers from these findings are that in order to keep investors satisfied, banks with low levels of risk disclosure should enhance their reporting practices. This will help investors when making investment decisions. To the best of the researchers’ knowledge, no prior research has previously been conducted on the levels of risk disclosure in Saudi Arabian listed banks. Therefore, this is the first study to examine the levels of risk disclosure in the context of Saudi Arabia.

scholarly journals Research on the Effect of Monetary Policy on Financial Accelerator—Based on the empirical analysis of Chinese steel enterprises

2021 ◽  
Vol 235 ◽  
pp. 01064
Author(s):  
Chenyi Zhao ◽  
Xuefei Yu
Keyword(s):  
Empirical Analysis ◽  
Financial Market ◽  
Debt Crisis ◽  
Agency Cost ◽  
External Shocks ◽  
Financial Accelerator ◽  
Iron And Steel ◽  
The Real ◽  
The Impact ◽  
The Empirical Analysis

From the perspective of principal-agent, the theory of financial acceleration holds that due to the defects of the financial market, external shocks will be amplified by the financial market and accelerate the transmission in the real economy, and the impact on small enterprises is greater than that on large enterprises. According to the theory of financial deceleration, the agency cost caused by financial friction is counter-cyclical, which restrains credit scale to some extent, prevents excessive debt, and thus alleviates external shocks. According to the empirical analysis of panel data of iron and steel enterprises and the existing empirical results of the real estate industry, it is found that there is no financial accelerator effect or financial reducer effect in the field of iron and steel enterprises. China’s financial accelerator is more focused on bubbly assets where growth is expected and continues to be overheated despite policy tightening. That would trigger a bigger debt crisis and greater economic volatility.

Empirical analysis of the changing pattern of sex segregation of occupation in Ghana

2014 ◽  
Vol 41 (8) ◽  
pp. 650-663
Author(s):  
William Baah-Boateng
Keyword(s):  
Empirical Analysis ◽  
Occupational Segregation ◽  
Economic Transformation ◽  
Sex Segregation ◽  
Science And Engineering ◽  
Content Type ◽  
Earnings Gap ◽  
The Empirical Analysis ◽  
High Skill ◽  
Practical Implications

Purpose – The purpose of this paper is to assess the changing pattern and direction of sex segregation of occupation as a measure of unbalanced distribution of occupation by sex in Ghana between 1960 and 2010, identify the sources of the changes and show whether female-male earnings difference has changed in line with the changes in occupational segregation. Design/methodology/approach – The paper applies two segregation indices to data from population censuses and household surveys in the empirical analysis Findings – The outcome of the segregation measure indicates a generally modest to high but declining occupational sex segregation in Ghana over a period of five decades. Sex composition and occupational mix effects are found to be the underlying drivers of the declining segregation with the former coming up strongly during the initial 40 years. This has, however, not translated into narrowing female-male earnings gap. Practical implications – The paper recommends measures towards economic transformation for a change in occupational structure backed by implementation of education policy to enhance female access to male-dominated science and engineering programmes and employment in high-skill occupations. Originality/value – The strength of the paper is seen from its originality as it is the first attempt to assess changing pattern of occupational segregation over a long period of five decades with consistent and comparable data sources.

scholarly journals Opportunities and Challenges of Companies from the Romanian E-Commerce Market for Sustainable Competitiveness

2021 ◽  
Vol 13 (23) ◽  
pp. 13358
Author(s):  
Camelia-Daniela Hategan ◽  
Ruxandra-Ioana Pitorac ◽  
Vasile-Petru Hategan ◽  
Carmen Mihaela Imbrescu
Keyword(s):  
Consumer Behavior ◽  
Qualitative Analysis ◽  
Financial Performance ◽  
Empirical Analysis ◽  
Customer Relations ◽  
Econometric Models ◽  
Customer Relationship ◽  
Research Results ◽  
The Empirical Analysis ◽  
Practical Implications

Consumer behavior differs from country to country, which may implicitly influence the financial performance of e-commerce companies. The paper’s objective is to study the characteristics of the companies from the Romanian e-commerce market for sustainable competitiveness. The empirical analysis was a quantitative and qualitative one. For the qualitative analysis of the studied sample, variables that represent the specific characteristics of companies were taken into account, the most relevant of which will be included as control variables in econometric models. Research results highlight that the recognized companies registered lower values of financial performance, they influence each other and for the company to improve the customer relationship, they have to invest in brand consolidation. The practical implications can be for managers to focus on companies’ branding, improving customer relations, disclosing more information about the company, the products they sell online, and sustainability actions to have sustainable competitiveness.

The Term Structure of Equity Risk: An Empirical Analysis

CFA Digest ◽  
1997 ◽  
Vol 27 (1) ◽  
pp. 56-57
Author(s):  
H. Kent Baker
Keyword(s):  
Empirical Analysis ◽  
Term Structure ◽  
Equity Risk

The Word Class Adjective in English Business Magazines Online

2018 ◽  
Vol 6 (2) ◽  
pp. 99-115
Author(s):  
Borislav Marušić ◽  
Sanda Katavić-Čaušić
Keyword(s):  
Empirical Study ◽  
Empirical Analysis ◽  
Word Formation ◽  
Word Class ◽  
Business English ◽  
Starting Point ◽  
Comprehensive Picture ◽  
English Syntax ◽  
The Empirical Analysis ◽  
Insight Into

Abstract The aim of this paper is to research the word class adjective in one sequence of the ESP: Business English, more precisely English business magazines online. It is an empirical study on the corpus taken from a variety of business magazines online. The empirical analysis allows a comprehensive insight into the word class adjective in this variety of Business English and makes its contribution to English syntax, semantics and word formation. The syntactic part analyses the adjective position in the sentence. The semantic part of the study identifies the most common adjectives that appear in English business magazines online. Most of the analysis is devoted to the word formation of the adjectives found in the corpus. The corpus is analysed in such a way that it enables its division into compounds, derivatives and conversions. The results obtained in this way will give a comprehensive picture of the word class adjective in this type of Business English and can act as a starting point for further research of the word class adjective.

ICT SMEs, Performance, Absorptive Capacity and Transformative Capacity

2019 ◽  
Vol 118 (3) ◽  
pp. 178-188
Author(s):  
Yeon-Sung Cho ◽  
Kyung-Il Khoe
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Empirical Analysis ◽  
Absorptive Capacity ◽  
Latent Variables ◽  
Equation Modeling ◽  
Transformative Capacity ◽  
The Impact ◽  
The Empirical Analysis ◽  
Innovative Capacity

This study intends to integrate the relationship of market orientation, innovative capacity and firm performance to Information and Communication Technology(ICT) SMEs. The purpose of this study is to identify the role of absorptive capacity and transformative capacity that affect the performance of ICT SMEs. Hypotheses were established between five latent variables. A total of six hypotheses were established including the moderated effects of absorptive capacity and transformative capacity. Of the data collected after the survey, 112 valid surveys were selected as the final sample, except for 17 questionnaires with high non - response and insincere response. The empirical analysis of this study used smartpls3.0, Partial Least Squares (PLS), a variance-based structural equation modeling. The empirical analysis of this study revealed that the impact of market orientation on innovative capacity was significant. Moreover, the innovative capacity had a positive effect on the performance of ICT SMEs. In addition, the absorptive activity had a positive moderated effect between the market orientation and the innovative capacity. On the other hand, the transformative capacity showed a positive moderated effect in relation to innovative capacity and firm performance. Our empirical results have demonstrated the importance of knowledge based capacity in the ICT SMEs.

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