Market's Reaction to Analytical Information From Brokerage Institutions: Empirical Evidence From Stock Market in Vietnam

2021 ◽  
Vol 12 (1) ◽  
pp. 189
Author(s):  
Van Huy Bui ◽  
Van Manh Ha Nguyen ◽  
Dang Thanh Minh Tran ◽  
Bich Loc Tram ◽  
Gia Quyen Phan ◽  
...  
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Significant Role ◽  
Rate Of Return ◽  
Positive Bias ◽  
Analytical Information ◽  
Study Results ◽  
Abnormal Rate ◽  
Stock Analysts

This paper examines the market’s reaction to brokerages’ recommendations on the Vietnamese stock market. The results indicate that stock analysts tend to show a drastically positive bias, with the overwhelming number of optimistic recommendations compared to negative ones. The abnormal rate of return following upscaling recommendations is positive, incremental, and statistically significant from the offered moment to a month later, which is consistent with results from different measures of the standard portfolio. However, the study has not found cogent evidence of the market reaction to downgrading recommendations. This research emphasizes the significant role of analytical information on the stock market in Vietnam, and the implications are discussed based on this study’s findings. The study results are the foundation for investors’ considerations about brokerages’ proposals before their trades.

The role of Muslim women in managing the family during crisis: corona pandemic as a model

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haifa F. Fawaris
Keyword(s):  
Significant Role ◽  
Design Methodology ◽  
Analytical Approach ◽  
Muslim Women ◽  
Muslim Woman ◽  
Content Type ◽  
Study Results ◽  
The Family ◽  
Mental Characteristics

Purpose This study aims to clarify the role of Muslim women in managing their families during the corona pandemic crisis. To achieve this aim, the researcher applied the descriptive and analytical approach. Design/methodology/approach The Muslim women have had a prominent position consistent with the physical, psychological and mental characteristics that Allah has created them. This status is shown by: affirming their rights in all areas of life; affirming everything that preserved the dignity of women before Islam; and correcting all the conditions that detracted their dignity before the advent of Islam and making them responsible in public Islamic life on the level of: preserving Islam, spreading the Islamic call and achieving the civilization advancement of the Muslim nation. Findings The study resulted in many significant results. The most important one of the study results was that, in the context of woman rights and responsibilities she had assumed in Islam, the Muslim woman had a prominent position in Islam. In addition, the mother in the Muslim family had a significant role as a leader, who is capable of managing the family in corona crisis and supporting family members in all aspects such as faith, intellectual endeavors, psychological, social and health, so that they are real leaders. Originality/value The study recommends carrying out educational studies that identify and show the role of institutions other than the family in managing emergency crises.

scholarly journals Earnings shocks: An event study on Boursa Kuwait

2021 ◽  
Vol 10 (3) ◽  
pp. 363-368
Author(s):  
Saad B F M AlHajraf
Keyword(s):  
Stock Prices ◽  
Important Implication ◽  
Stock Exchange ◽  
Earnings Announcements ◽  
Abnormal Returns ◽  
Rate Of Return ◽  
Study Results ◽  
Kuwait Stock Exchange ◽  
Before And After ◽  
Abnormal Rate

This study investigates the effects of earnings announcements on stock prices in Boursa Kuwait, formerly known as the Kuwait Stock Exchange (KSE).  The data spans the period 2018–2020, and both positive and negative earnings announcements are employed as shock events and their effects assessed. The study results show that there is a statistically abnormal rate of return before and after the earnings announcements and that most abnormal returns are just after the earnings announcement.  This most likely indicates that Boursa Kuwait is a semi-strong efficient stock market.  One important implication is an indication that insider-related trading might be absent in Boursa Kuwait. 

scholarly journals Being lean: how to shape digital transformation in the manufacturing sector

2021 ◽  
Vol 32 (9) ◽  
pp. 239-259
Author(s):  
Matteo Rossini ◽  
Fabiana Dafne Cifone ◽  
Bassel Kassem ◽  
Federica Costa ◽  
Alberto Portioli-Staudacher
Keyword(s):  
Empirical Evidence ◽  
Significant Role ◽  
Industry 4.0 ◽  
Continuous Process ◽  
Radical Change ◽  
Digital Transformation ◽  
Manufacturing Companies ◽  
Content Type ◽  
Transformation Pattern

PurposeIndustry 4.0 and Lean Production are a successful match in terms of performance improvement. While we understand the combined potential, there is still poor understanding of how companies should embrace digital transformation to make it successful and sustainable, and the role that lean plays in it. In this paper, we investigate how manufacturing companies embark upon digital transformation and how being lean might affect it.Design/methodology/approachWe conducted multiple case studies with 19 manufacturing companies. We identified two clusters of companies according to their Lean maturity, and we assessed digital transformation patterns by analyzing insights coming both from cases and from the literature. Integrating cross-case analysis results, we developed a framework that shows two different digital transformation patterns according to companies’ commitment to Lean.FindingsOur findings first and foremost show the significant role of lean in driving digital transformation. We identify two patterns, namely Sustaining digital transformation pattern, characterized by the pervasive role of lean culture with small and horizontal digital changes, involvement of people and willingness to maintain continuous process improvement, and Disruptive digital transformation pattern, characterized by few and large digital steps that imply a disruptive and radical change in the company system.Practical implicationsEmpirical evidence supports the relevance of the proposed model and its practical usefulness. It can be used to design digital transformation, prepare properly the introduction of Industry 4.0 through a lean approach, and plan the future desired state, identifying the Industry 4.0 technologies that should be implemented.Originality/valueIt is widely recognized that the relationship between Industry 4.0 and lean is significant and positive, yet little evidence was presented to back that. We aim at bringing this debate forward by providing initial empirical evidence of the significant role that lean has on digital transformation, showing how lean drives the digital transformation pattern of companies.

scholarly journals The Role of Bank-based and Market-based Financial Development on Economic Growth of Nepal

2019 ◽  
Vol 12 (1) ◽  
pp. 5-26
Author(s):  
Surya Bahadur Rana
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Banking Sector ◽  
Empirical Relationship ◽  
Stock Market Development ◽  
Study Results ◽  
Endogenous Growth Model ◽  
Banking Development ◽  
Shed Light

This study examines the empirical relationship between economic growth and various measures of stock market and banking development in Nepal over the sample period 1987/88 to 2015/16 using a framework of endogenous growth model suggested by Romer (1986), Rebelo (1991) and Pagano (1993). The study finds that stock market size, liquidity and banking development measures predict the economic growth in the context of Nepal. Similarly, the study results show the important role of banking development on economic growth process of Nepal because all indicators of banking development have positive and significant impact on growth. The study results shed light on the fact that both the level of stock market development and the level of banking development can influence the economic growth of Nepal. This finding supports the notion of Levine (1996) which articulates that stock market and banking sector are independently as well as jointly significant in promoting economic growth.  

scholarly journals Investigating income smoothing: Empirical evidence from Vietnam's listed companies

2020 ◽  
Vol 7 (2) ◽  
Author(s):  
Phung Anh Thu ◽  
Nguyen Vinh Khuong
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Random Sample ◽  
Coefficient Of Variation ◽  
Stock Exchange ◽  
Listed Companies ◽  
Income Smoothing ◽  
Study Results ◽  
Model Coefficient

Income smoothing is a dimension of the accounts manipulation theme that has been attracting great attention in the accounting literature. A goal of manipulation is widely ascribed to managers who wants income smoothing. The author has tried to investigate income smoothing at listed companies on the Stock Exchange. For this purpose, we chose a stratified random sample of 285 companies from formula listed companies on Vietnam Stock Exchange. We carried the mechanism for smooth and non-smoothing companies Eckel model (coefficient of variation of the distribution of profits to sales). We have compared 111 smoothing companies and 174 non-smoothing companies. The study results suggest that the Eckel index is suitable for the Vietnam stock market and shows a slight increase compared to the previous research.

Green for God: Religion and Environmentalism by Cohort and Time

2017 ◽  
Vol 50 (2) ◽  
pp. 213-241 ◽  
Author(s):  
Juliet E. Carlisle ◽  
April K. Clark
Keyword(s):  
Empirical Evidence ◽  
Significant Role ◽  
Religious Group ◽  
Value Change ◽  
Period Effects ◽  
Compositional Effects ◽  
And Behavior ◽  
Attitudes And Behavior

Previous research demonstrates that religion plays a significant role in understanding attitudes and behavior regarding the environment. In addition, studies also demonstrate value change across cohorts and time in postmaterialist attitudes. However, limited empirical evidence exists that considers both simultaneously. The advantage of the approach relied on here is that the model can estimate “true” change in “proenvironmental” attitude levels within each religious group by cohort and period while also testing the role of compositional effects on these trends. Our analyses demonstrate that support for environmental spending is the result of period effects rather than cohort-based change. Moreover, although support for environmental spending differs among religious denominations, changes are the result of periodic shifts that are experienced by all denominations. Thus, without any unique denominational shifts in support for environmental spending, the so-called “greening” of Christianity is not supported here.

scholarly journals The Relationship Between Stock Market Development And The Opacity Index

2013 ◽  
Vol 12 (9) ◽  
pp. 1131
Author(s):  
John Kamiru ◽  
Carl B. McGowan, Jr.
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Financial Institutions ◽  
Growth And Development ◽  
Rate Of Return ◽  
Market Development ◽  
Stock Market Development ◽  
Economic Growth And Development ◽  
The Relationship

In this paper, we investigate the relationship between stock market development and the Opacity Index for 2005/2006, 2007/2008, and 2009. The role of financial institutions in promoting economic growth and development is well established. The specific role of the stock market in economic growth and development is to provide capital to entrepreneurs and growing companies and to direct capital to companies that provide the highest rate of return. The Opacity Index is a measure of transparency for an economy and measures the degree of transparency in an economy. We find a statistically significant relationship between the Opacity Index and the ratio of stock market capitalization divided by GDP for a sample of 45 countries for which the Opacity Index is provided.

How to Assure Stable Development in Unstable Financial Environment?

2007 ◽  
pp. 4-26 ◽  
Author(s):  
M. Ershov
Keyword(s):  
Stock Market ◽  
Developed Countries ◽  
Market Liquidity ◽  
Market Mechanisms ◽  
Russian Economy ◽  
The Developed Countries ◽  
Russian Stock Market ◽  
Stable Development ◽  
Financial Environment

Growing involvement of Russian economy in international economic sphere increases the role of external risks. Financial problems which the developed countries are encountered with today result in volatility of Russian stock market, liquidity problems for banks, unstable prices. These factors in total may put longer-term prospects of economic growth in jeopardy. Monetary, foreign exchange and stock market mechanisms become the centerpiece of economic policy approaches which should provide for stable development in the shaky environment.

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