scholarly journals Market Trends and Options Trading: Viewpoint, Probability and Implications

2021 ◽  
pp. 95-119
Author(s):  
Monica Guling Wu ◽  
Hsinan Hsu ◽  
Janchung Wang
Keyword(s):  
Time Frame ◽  
Jel Classification ◽  
Estimation Methods ◽  
Short Term ◽  
Call Options ◽  
Bear Market ◽  
Bull Markets ◽  
Market Trends ◽  
Options Trading

Abstract In Dow theory, market trends are classified as secular trends for long-term frames, primary trends for medium-term frames, and secondary trends for short-term frames. For the long and medium terms, they can consist of major bull (bear) markets and minor bear (bull) markets; for the short terms, they may have corrections and bear rallies. These definitions of market trends are not very helpful to options traders because in practice, options trading is often done on a short-term time frame and options have a unique property of time value. Even in a bull market, there is a possibility of losing all money for buying call options; in a bear market, there is a probability of earning money for buying call options. This inconsistency often troubles options traders deeply. From the viewpoint of options trading, we introduce a new concept of analyzing the market trends and propose new methods for estimating the probabilities of the market trends since at any time the future prices are unknown. By simplifying the market trends into three concepts of uptrend, downtrend, and neutral trend, it will have consistent implications for options trading. JEL classification numbers: C13, G10, G13. Keywords: Market trends, Options trading, Trend probability, Estimation methods, Trading implications.

scholarly journals Earnings Management And Privatisations: Evidence From Pakistan Evidence From Pakistan

2015 ◽  
Vol 54 (2) ◽  
pp. 79-96 ◽  
Author(s):  
Abdullah Muhammad Iqbal ◽  
Iram Khan ◽  
Zeeshan Ahmed
Keyword(s):  
Earnings Management ◽  
Discretionary Accruals ◽  
Cash Flows ◽  
Jel Classification ◽  
Short Term ◽  
Jones Model ◽  
Reported Earnings

This study examines the incidence of earnings management around the time of the privatisation of State Owned Enterprises in Pakistan during 1991-2005. Using the modified Jones model and a sample of large privatisations (minimum US$1 million), it shows that the sampled firms experienced increase in earnings, decrease in cash flows, and increase in current discretionary accruals in the year prior to and/or in the year of privatisation. The SOEs used both short term and long term accruals to inflate reported earnings. These accruals were reversed in the post-privatisation period. These findings suggest that managers of the firms slated for privatisation were engaged in earnings management to inflate their firms‘ financial worth to maximise the privatisation proceeds. Hence, we cannot reject the incidence of earnings management during privatisations in Pakistan. The results imply that the investors should carefully evaluate the to-be-privatised firms and keep in view the possibility of earnings management by the SOEs. JEL Classification: G14, G34, G38, L33, M41 Keywords: Earnings Management, Privatisations, SOEs, Pakistan, Accruals

Do cows regulate diet choice within the short-term time frame of a meal?

2003 ◽  
Vol 2003 ◽  
pp. 6-6
Author(s):  
M. P. Yeates ◽  
B. J. Tolkamp ◽  
I. Kyriazakis
Keyword(s):  
Feeding Behaviour ◽  
Time Frame ◽  
Food Type ◽  
Direct Result ◽  
Diet Choice ◽  
Short Term ◽  
Biological Unit

When cows are offered a choice of foods they are able to select a consistent combination of these foods over long periods of time. Consistent long-term diet choice (DC) is the result of feeding behaviour, which may be regulated in the short-term. The shortest unit of feeding that can be measured is often a visit to a feeder supplying one food type only. These visits are usually clustered into meals, which are the shortest biological unit in which DC can be expressed. Previous work led us to hypothesise that animals may select a consistent diet within meals, thus ensuring nutrient synchronisation in the short-term. Therefore, the aim of this study was to investigate whether long-term average DC was a direct result of cows selecting a consistent diet within meals.

Aging Couples: Benefits and Costs of Long Intimate Relations

2018 ◽  
Author(s):  
Victoria I. Michalowski ◽  
Denis Gerstorf ◽  
Christiane A. Hoppmann
Keyword(s):  
Time Frame ◽  
Multiple Time Scales ◽  
Future Research ◽  
Multiple Time ◽  
Physical And Mental Health ◽  
Short Term ◽  
Intimate Relations ◽  
Benefits And Costs ◽  
Over Time

Aging does not occur in isolation, but often involves significant others such as spouses. Whether such dyadic associations involve gains or losses depends on a myriad of factors, including the time frame under consideration. What is beneficial in the short term may not be so in the long term, and vice versa. Similarly, what is beneficial for one partner may be costly for the other, or the couple unit over time. Daily dynamics between partners involving emotion processes, health behaviors, and collaborative cognition may accumulate over years to affect the longer-term physical and mental health outcomes of either partner or both partners across adulthood and into old age. Future research should move beyond an individual-focused approach to aging and consider the importance of and interactions among multiple time scales to better understand how, when, and why older spouses shape each other’s aging trajectories, both for better and for worse.

scholarly journals Comparing the Applications of Management Accounting between Vietnamese Public Universities by the Degree of Autonomy

2020 ◽  
Vol 4 (1) ◽  
pp. 84-91
Author(s):  
Oanh Thi Tu LE ◽  
Phong Thi Thu Tran
Keyword(s):  
Public Universities ◽  
Management Accounting ◽  
Accounting Information ◽  
Jel Classification ◽  
Variance Analysis ◽  
Short Term ◽  
Management Responsibility ◽  
The Cost ◽  
Responsibility Accounting

This study was conducted based on a survey of 53 public universities in Vietnam to evaluate the applications of management accounting in universities according to the following metrics: (i) Cost classification; (ii) Conducting and evaluating budgets; (iii) Management responsibility; and (iv) Using information to make short-term and long-term decisions. The results showed that public universities have some interest in management accounting information, especially responsibility accounting. However, management accounting information which has not been used much in Vietnamese universities includes controllable and uncontrollable costs and variance analysis between actual results and estimates. Regarding the degree of autonomy, fully or partially autonomous universities tend to apply management accounting more than non-autonomous universities in terms of the cost per student, the fees for repeat classes, and management responsibility. The research results showed the need to use management accounting information when universities increase their autonomy. JEL Classification: M40, M41, M49.

scholarly journals DETERMINANT ANALYSIS OF SUPPLY CHANGE OF INDONESIA'S EXPORT PRODUCT

2010 ◽  
Vol 12 (3) ◽  
pp. 329-348
Author(s):  
Sarwedi Sarwedi
Keyword(s):  
Significant Relationship ◽  
Commodity Price ◽  
Jel Classification ◽  
Least Square ◽  
Short Term ◽  
Export Volume ◽  
Export Composition ◽  
The Relationship ◽  
Positive Effect

This study analyzes the effects of structural economic movement on the change of indonesia’s exports and examines the validity of the ignacy theory concerning structural economic movement in relation to the changes of of export composition. The study utilize an ordinary mechanism of WLS, namely the Wald model.The estimation resulted through the combination of ECM and WLS shows that the price of export goods/merchandises has a positive effect and is significant in the short-term. Yet, over the long-term period, the increase in export commodity price causes the decrease in export volumes. Meanwhile, the relationship between export volume and inflation is not significant, either in the short-term or long-term.  Foreign exchange interestingly has a positive and significant relationship with the export volume over a short-term period, but in the long-term it has a reverse effect, that is, it decreases export volume. Foreign investment has a positive and significant relationship with export volume in the long-term, the significance, however, weakens over the short-term period.The structural economic movement has a positive and significant relationship over a short-term period with export volume, but over long-term period the relationship is not statistically strong. Thus, the structural economic movement towards more on the growth of industry sector could stimulate the growth in export aggregately. This evidence provides further support on the Ignacy theory (1980) if it is applied on Indonesian international economy, especially for the period of 1983-1997.JEL Classification: C32, F14, O24Keyword: Weighted Least Square, Error Correction Model, Structural Economic Movement, Export Change

Effect of Capital Structure on the Profitability of Listed Insurance Firms in Nigeria

2019 ◽  
Vol 1 (2) ◽  
pp. 36-45
Author(s):  
Abdul Kerim ◽  
John Alaji ◽  
Idachaba Odekina Innocent
Keyword(s):  
Capital Structure ◽  
Jel Classification ◽  
Least Square ◽  
Short Term ◽  
Financial Reports ◽  
Ordinary Least Square ◽  
Multiple Regression Technique ◽  
Insurance Firms ◽  
Ordinary Least Square Regression

This study examined the effect of capital structure on profitability of listed insurance firms in Nigeria for the period 2013-2017 The study used correlation research design. The source of data which were collected from the published annual financial reports of studies listed insurance firms in Nigeria. The population of the study comprised of the 28 listed insurance firms. The sample size was fifteen (15) listed insurance firms in Nigeria. The data collected were analyzed with the aid of OLS multiple regression technique. Using 75 firm-year paneled observations, the result of the ordinary least square regression showed that short-term debt has a negative and significant effect on the profitability of listed insurance firms in Nigeria. In addition, long-term debt has a positive and significant effect on profitability. Finally, premium growth has positively significant effect on profitability of listed insurance firms.  Based on the findings, the study recommends that the management of listed insurance firms should strive towards having optimum capital structure by increasing their equity level and reducing dependence on debts so as to avoid being cash strapped and debt ridden. JEL classification: C88, G22, G24, G29

Technical Challenges Facing Regulators–Assessment of Long-Term Materials Performance

1987 ◽  
Vol 112 ◽  
Author(s):  
Kenneth W. Stephens
Keyword(s):  
Real Time ◽  
Waste Disposal ◽  
Time Frame ◽  
High Level Waste ◽  
Short Term ◽  
Long Time ◽  
Computer Codes ◽  
High Level ◽  
Term Data

AbstractFor a number of years, nuclear regulators have grappled with difficult questions such as: “How safe is safe enough?” Such issues take on new dimensions in the long time-frame of high-level waste disposal.Many of the challenges facing regulators involve assessment of long-term materials performance. Because real-time experiments cannot be conducted, it is necessary to rely extensively on modeling. This raises issues regarding the extent to which long-term extrapolations of short-term data are justified, the question of how closely models must represent reality to be trusted, and practical matters such as methods for validating unique computer codes.Issues such as these illustrate how regulators must make decisions in a climate of uncertainty. Methods used by non-technical disciplines to make decisions under uncertainty have been examined and offer solutions for regulators and licensees alike.

The red packet interaction and brand attitude in the brand communities on WeChat

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Guowei Zhu ◽  
Yaru Liu ◽  
Li Zhou
Keyword(s):  
Social Networking Sites ◽  
Time Frame ◽  
Negative Influence ◽  
Brand Attitude ◽  
Short Term ◽  
Content Type ◽  
Brand Communities ◽  
Significant Difference ◽  
Community Pressure

Purpose Monetary incentives have been widely adopted by brands to promote consumer engagement in their brand communities on social networking sites. This paper aims to explore how the interactions triggered by an emerging monetary incentive, red packets, affect consumers’ brand attitude in the context of WeChat brand groups (WCBGs). Design/methodology/approach According to whether brands ask for commercial returns from consumers, two types of interactions were identified, namely, exchange red packet interaction (ERPI) and communal red packet interaction (CRPI). The corresponding influences on brand attitude were examined in three experiments. Findings Compared to CRPIs, ERPIs elicit greater normative community pressure, inducing a less favorable brand attitude. Moreover, this impact is moderated by the time frame of brand communities. In the long-term WCBGs, a significant difference exists between ERPIs and CRPIs, while such difference attenuates or even disappears in short-term WCBGs. Practical implications When using red packets as an engagement strategy, brand managers should be alert to their potential negative influence. Specifically, in short-term brand communities, ERPIs enable managers to acquire commercial returns without hurting brand attitude. In long-term brand communities, managers are advised to implement CRPIs to foster a positive brand attitude. Originality/value This study investigates red packet interactions in brand communities, which have been widespread but unexplored. The results expand the literature by addressing the undermining effect of ERPI and the moderating effect of the time frame.

Device Selection for Short- and Long-Term Mechanical Circulatory Support

2019 ◽  
pp. 61-69
Author(s):  
Rabea Asleh ◽  
Sarah Schettle
Keyword(s):  
Mechanical Circulatory Support ◽  
Tissue Perfusion ◽  
Time Frame ◽  
Total Artificial Heart ◽  
Circulatory Support ◽  
Short Term ◽  
Ventricular Assist ◽  
Device Selection ◽  
Selection For

Mechanical circulatory support has expanded to meet the needs of a variety of patient populations requiring short-term and long-term applications and is utilized internationally. Short-term support devices offer treatment for cardiogenic shock and consist of varying support mechanisms, including univentricular and biventricular support options to improve hemodynamics and tissue perfusion. Investigational devices offer additional options to consider in device selection. Long-term support with ventricular assist devices or total artificial heart offers dischargeable options for lifelong support, recovery, or while patients await organ transplantation. Consideration of device availability, expenses and coverage, operator expertise, and technical challenges should be undertaken when determining patient support strategies. Reviewing patient comorbidities and time frame needed for support is imperative when considering device options to ensure appropriate device selection for each individual patient, thus mitigating risks and maximizing outcomes. Innovation will continue to drive progress in mechanical circulatory support with ongoing development of novel strategies to afford new options to optimize support of patients with heart failure.

scholarly journals Testing the Effect of Technical Analysis Strategies on Achieving Abnormal Return: Evidence from Egyptian Stock Market

2017 ◽  
Vol 6 (2) ◽  
pp. 26
Author(s):  
Osama El Ansary ◽  
Mona Atuea
Keyword(s):  
Abnormal Return ◽  
Technical Analysis ◽  
Security Market ◽  
Short Term ◽  
Egyptian Revolution ◽  
Bear Market ◽  
Analysis Strategies ◽  
Using Data ◽  
Bootstrap Methodology

This study examined the effect of using inter and exit signals of three of the most common used technical analysis strategies on achieving abnormal return compared with the buy and hold strategy in the Egyptian security market. The tests were done using data for short term, relatively long term, during bull and bear market. Using bootstrap methodology and wilcoxon/mann-whitney test for daily closing prices during the period from 1-1-1998 to 14-1-2016, the results indicated that; First, market timing with technical analysis yields more return and reduces risk in general. Second, short term investing is not recommended at all, as it is less profitable even than bear market period. Third, in long term and during bull market technical analysis is more profitable than short term. Fourth, technical analysis importance have been reduced during the last few years due to the effect of the Egyptian revolution on the security market. As for investors, they should use technical analysis trading rules to determine when to enter and exit the market, so that they can improve their investment decisions, as it leads to achieve abnormal return and reduces risk more than buy and hold strategy in all cases, while pay more attention for the current and political events than before.

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