INDIVIDUAL INVESTMENT ACCOUNTS IN GENERATING INCOME FOR PRIVATE INVESTORS

2020 ◽  
Vol 1 (11) ◽  
pp. 86-92
Author(s):  
B. А. DEMILKHANOVA ◽  
◽  
F. M. SADAEVA ◽  
Z. R. SAKHRUDINOVA ◽  
◽  
...  
Keyword(s):  
Financial Market ◽  
Comparative Assessment ◽  
Securities Market ◽  
Investment Activity ◽  
Bank Deposits ◽  
Banking Market ◽  
Private Investors ◽  
The Impact ◽  
The Relationship ◽  
Digital Channels

To identify the impact of "digitalization" of the financial market on the formation of savings of the population of the region, which is characterized by signs of development of the primary securities market, the article provides a comparative assessment of the relationship between changes in the investment activity of a private investor, expressed in changes in the number of individual investment accounts opened, and income from property. By identifying the nature of the correlation between the indicator of the investment activity of private investors in the Chechen Republic and their income from property, it has been established that income from property is mainly formed through the banking market using digital channels and individual investment accounts. The declining income from debt securities indicates that bank deposits are the main asset in individual investment accounts.

scholarly journals Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia

2017 ◽  
Vol 64 (4) ◽  
pp. 473-485
Author(s):  
Ashot Salnazaryan ◽  
Haykaz Aramyan
Keyword(s):  
Economic Growth ◽  
Financial Market ◽  
Credit Market ◽  
Securities Market ◽  
Market Segments ◽  
Corporate Securities ◽  
Regression Techniques ◽  
The Impact ◽  
The Relationship

Abstract This research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia.

THE ROLE OF DIGITAL TECHNOLOGIES IN THE FORMATION OF INCOME OF A PRIVATE INVESTOR: A COMPARATIVE GENERALIZED ASSESSMENT

2021 ◽  
Vol 1 (11) ◽  
pp. 130-136
Author(s):  
Bella А. Demilkhanova ◽  
◽  
Temirlan L. Temirsultanov ◽  
Turpal N.-M. Albekov ◽  
◽  
...  
Keyword(s):  
Digital Technologies ◽  
Development Trend ◽  
Securities Market ◽  
Investment Activity ◽  
Banking Services ◽  
Distinctive Features ◽  
Private Investor ◽  
Private Investors ◽  
Digital Channels

Based on the main development trend of the modern securities market, which consists in its computerization, the introduction and widespread use of digital technologies, leading to the intertwining of the activities of all participants in the financial market, turning into a single financial mechanism, individual investment accounts are considered – a product of online integration -services and mobile applications. The general and distinctive features of the nature of the influence of operations carried out through individual investment accounts on the formation of income of a private investor from property are revealed. By identifying the nature of the correlation between the indicator of the investment activity of private investors in the Chechen Republic and their income from property, it was established that income from property using digital channels is mainly formed through the banking services market.

scholarly journals Transactions Volume, Exchange Direction and Asymmetry of Volatility in Emerging Market: Evidence From Tunisian Stock Exchange

2020 ◽  
Vol 11 (6) ◽  
pp. 318
Author(s):  
Jaber Yasmina
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Stock Exchange ◽  
Emerging Market ◽  
Explanatory Power ◽  
Trading Activity ◽  
Auto Correlation ◽  
The Asymmetry ◽  
The Impact ◽  
The Relationship

This study is an attempt to explain the relationship between intraday return and volume in Tunisian Stock Market. Indeed, former researches avow that the trading activity have the main explanatory power for volatility. However, most theories measure the activity of transactions through the size of exchange or the number of transactions. Nevertheless, these components are not aware enough of the importance of the direction of exchange when explaining the phenomenon of asymmetry of volatility. In the most of studies, the technique “Augmented Tick Test” (ATT) is employed so as to identify the direction of exchange. Such technique is adapted for the markets directed by orders like the Tunisian financial market. Again, this paper shows that the impact of the direction of exchange differs according to the market trend. In other words, if the returns are positive, the transactions of sale (of purchase) generate a decrease (increase) of volatility; whereas, they induce an increase (drop) of volatility if returns are negative. This result stresses the significance of exchange direction in explaning the asymmetry of volatility. Moreover, throughout this study, one may affirm that “Herding trades” are at the origin of the increase of volatility, while the “Contrarian trades” reduce volatility. Similarly, the identification of the direction of exchange enables us to affirm that the transactions of the initiates are characterized by the absence of returns auto- correlation; whereas, the transactions carried out by uninformed investors present an auto- correlation of the returns. In fact, the sign of this correlation varies according to transaction direction.

scholarly journals Financial Mismatch, Assets Specificity and Capital Structure

2019 ◽  
Vol 11 (2) ◽  
pp. 236
Author(s):  
Yanwu Li
Keyword(s):  
Capital Structure ◽  
Financial Market ◽  
Stock Exchange ◽  
Governance Structure ◽  
Debt Financing ◽  
Asset Specificity ◽  
Private Companies ◽  
Market Governance ◽  
The Impact ◽  
The Relationship

At present, the problem of financial mismatch poses great challenge to China’s financial market. Financial mismatch blurs the market governance structure of debt financing, thus distorting the relationship between asset specificity and capital structure. This paper investigates companies listed on the A-share of Shanghai and Shenzhen Stock Exchange from 2012 to 2017. It tests the existence of financial mismatch and the impact of financial mismatch on asset specificity and capital structure. Empirical results show that the impact of financial mismatch on the relationship between asset specificity and capital structure of sample companies exhibits no differences in ownership. Both state-owned listed companies and private companies face the same degree of financial mismatch issues, which leads to changes in the property-specific governance structure of assets, and asset specificity is positively related to capital structure.

scholarly journals Assessing the impact of globalization on stock market in Ukraine

VUZF Review ◽  
2021 ◽  
Vol 6 (3) ◽  
pp. 100-107
Author(s):  
Tetyana Zadorozhna
Keyword(s):  
International Standards ◽  
Securities Market ◽  
Market Regulation ◽  
Financial Indicators ◽  
The Third ◽  
Market Trends ◽  
Political Globalization ◽  
National Economies ◽  
The Impact ◽  
The Relationship

The article is devoted to studying the impact of globalization processes on the development of national economies. In particular, the indicators of assessing the impact of globalization on financial and non-financial indicators of countries' development are considered. Attention is paid to the place of Ukraine in the KOF Globalization Index 2020 ranking, namely in terms of economic, social, and political globalization. The author has formed three groups of indicators that allow assessing the influence of globalization on the securities market of a country. The first group includes indicators that help determine the degree of integration of the national securities market into the global one. The second group includes indicators that determine the extent to which domestic securities legislation and principles of securities market regulation are adapted to international standards. The third group of indicators is aimed at quantifying the impact of trends in the global securities market on the national. The article examines the impact of one of the indicators of the third group on the securities market of Ukraine. In particular, the correlation analysis of the relationship between the Ukrainian PFTS index and the indices of American, British, European, and Polish stock markets was conducted. The author made conclusions about the availability of the significant correlation between global stock indices, as well as the weak impact of global securities market trends on the dynamics of the Ukrainian market. It was also revealed during the analysis, that the level of correlation between indices depends on whether the financial market is in crisis. Particularly, the analysis covered three periods: the 2008-2010 financial crisis, the 2020-2021 Covid-19 crisis, and the 2010-2020 period between the crises.

scholarly journals The Impact of Financial Intermediation on the Economy of Ghana

2021 ◽  
Vol 04 (06) ◽  
Author(s):  
David Kwashie Garr ◽  
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Financial Intermediation ◽  
Operating Cost ◽  
Bank Deposits ◽  
Interest Rate Spread ◽  
The Impact ◽  
Adf Test ◽  
The Relationship ◽  
Positive Effect

This study investigated the impact of financial intermediation on economic performance using data from sixteen (16) universal banks in Ghana. This investigation is carried out using five popular indicators of financial sector intermediation, which are deposit mobilisation, customer credit, operating cost, reserve requirement and interest rate spread. Gross Domestic Product Per Capital (GDPPC) was used as a measure of economic sector growth or performance. The causal research design was used in this analysis. The unit root was estimated using the Augmented Dickey Fuller (ADF) test. The relationship between the dependent and independent variables was also determined using basic statistics tests and multiple regression analysis. The results reveal that bank deposits have an insignificant positive effect on the economy. Bank credit, however, has a negative significant effect on economic growth. The results also suggest that operating cost has a negative effect on the economic growth but the result is not significant. However, bank reserves have a positive significant effect. Finally, the results suggest that interest rate spread has a positive effect on the economy, but the relationship is not significant.

Monetary requirements for financial development

2020 ◽  
Vol 26 (2) ◽  
pp. 349-368
Author(s):  
K.V. Krinichanskii ◽  
N.E. Annenskaya
Keyword(s):  
Interest Rates ◽  
Financial Development ◽  
Inflation Rate ◽  
Substantial Growth ◽  
Bank Deposits ◽  
Developed Stock Markets ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

Subject. The study investigates the relationship of financial development and monetary factors, which may be represented with inflation indicators, money aggregate M2 (measured by GDP), differential of interest rates on loans and funds raised by banks, etc. Objectives. The study outlines a theoretical perimeter for analyzing monetary requirements of financial development. Based on empirical data, we show the extent to which the requirements are influential. Methods. To verify the hypothesis, we classify items under study. The relationship of variables is reviewed through regression analysis. The study embraces 21 countries with developed stock markets and 17 emerging markets, covering the time span from 1960 through 2016. Results. We discovered the negative regular relationship between the inflation rate and three financial development metrics, such as bank deposits to GDP, banks assets to GDP, domestic loan for the private sector to GDP. Conclusions and Relevance. Monetary conditions seem to be significant for financial development. Therefore, the economic policy and strategies for the analysis of phenomena should be amended, since they treat financial development as a substantial growth driver. The relationship spotlights possible lines of the policy for enhancing the quality of financial development. Furthermore, the findings can be used to refine approaches to evaluating the impact of financial development on economic growth.

Financial Development and Economic Growth: Analysis of Approaches to the Problem

2020 ◽  
Vol 12 (4-2) ◽  
pp. 251-266
Author(s):  
Alexander Novikov ◽  
◽  
Irina Novikova ◽  
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Financial Market ◽  
Market Development ◽  
Methodological Framework ◽  
Review Of The Literature ◽  
Financial Market Development ◽  
Points Of View ◽  
The Impact ◽  
The Relationship

The article deals with debatable questions about the relationship between economic growth and financial development. Both foreign and Russian authors have opposite points of view on the relationship between economic growth and financial development. The article states that financial development for developing countries is a factor of economic growth. The authors give a review of the literature proving the influence of financial development and its mechanism – the financial market – on economic growth. To illustrate this conclusion, they analyze the research aimed at studying the theoretical aspects of assessing the ratio of the level of financial market development and economic growth. The authors also investigate the formation of a methodological framework for assessing the impact of the level of financial market development on economic growth; identify the methods to quantitatively measure the level of financial market development and economic growth. The article analyzes the recommendations to develop measures to enhance the significance of financial market for economic growth of the country.

scholarly journals Tail Risk and Extreme Events: Connections between Oil and Clean Energy

Risks ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 39
Author(s):  
Elisa Di Febo ◽  
Matteo Foglia ◽  
Eliana Angelini
Keyword(s):  
Financial Market ◽  
Extreme Events ◽  
Clean Energy ◽  
Negative Events ◽  
Oil Market ◽  
Tail Events ◽  
Extreme Responses ◽  
The Impact ◽  
The Relationship ◽  
Events Study

Do tail events in the oil market trigger extreme responses by the clean-energy financial market (and vice versa)? This paper investigates the relationship between oil price and clean-energy stock with a novel methodology, namely extreme events study. The aim is to investigate an asymmetry effect between the response to good versus bad days. The results show how the two markets influence each other more negatively, i.e., extreme negative events significantly impact the other market. Furthermore, we document how the impact of the shock transmitted by oil prices to clean-energy stocks is less than the amount of shock transmitted oppositely. These findings have important implications for investor and renewable energy policies.

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