scholarly journals The Economic Effect of Bitcoin Halving Events on the U.S. Capital Market

2021 ◽  
Author(s):  
Dina El Mahdy
Keyword(s):  
Capital Market ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Intrinsic Value ◽  
Economic Effect ◽  
Use Cases ◽  
Cross Border ◽  
Stock Market Reaction ◽  
Increasing Demand ◽  
The U.S

Bitcoin is a digital asset that was first mined in January 2009 after the global financial crisis of 2007–2008. Over a decade later, there is still no consensus across different market regulations on the classification, use cases, policies, and economic implications of bitcoin. However, there is an increasing demand for digital currency, as an alternative to fiat currency which would spur financial innovation and inclusion. This study reviews regulations on digital assets across countries. It further discusses some use cases for bitcoin to reduce financial risk and facilitate cross border transactions. The study also discusses challenges related to bitcoin such as: cryptocurrencies substitution, cross border financing, cyber risk and security, and benefits in terms of the effect of coronavirus on the speed of capital market innovation and hence bitcoin usage. The study concludes by examining the economic effect of bitcoin halving events on the U.S. capital market to better understand the influence of bitcoin on financial markets and key drivers of its intrinsic value. The empirical evidence from this study suggests that bitcoin halving events are associated with significant negative stock market reaction, signaling a trading tradeoff between cryptocurrencies and U.S. stock markets.

scholarly journals GLOBALIZATION EFFECTS ON CONTAGION RISKS IN FINANCIAL MARKETS

2020 ◽  
Vol 15 (1) ◽  
pp. 38-54
Author(s):  
Mariya Paskaleva ◽  
Ani Stoykova
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Markets ◽  
Global Financial Crisis ◽  
Member States ◽  
Eu Member States ◽  
Contagion Effects ◽  
The Global Financial Crisis ◽  
The U.S

Financial globalization has opened international capital markets to investors and companies worldwide. However, the global financial crisis also caused massive stock price volatility due in part to global availability of market information. We explore ten EU member states (France, Germany, the United Kingdom, Belgium, Bulgaria, Romania, Greece, Portugal, Ireland, and Spain), and the USA. The explored period is March 3, 2003 to June 30, 2016, and includes the effects of the global financial crisis of 2008. The purpose of the article is to determine whether there is a contagion effect between the Bulgarian stock market and the other examined stock markets during the crisis period and whether these markets are efficient. We apply an augmented Dickey-Fuller test, DCC-GARCH model, autoregressive (AR) models, TGARCH model, and descriptive statistics. Our results show that a contagion between the Bulgarian capital market and the eight capital markets examined did exist during the global financial crisis of 2008. We register the strongest contagion effects from the U.S. and German capital markets on the Bulgarian capital market. The Bulgarian capital market is relatively integrated with the stock markets of Germany and the United State, which serves as an explanation of why the Bulgarian capital market was exposed to financial contagion effects from the U.S. capital market and the capital markets of EU member states during the crisis. We register statistically significant AR (1) for UK, Greece, Ireland, Portugal, Romania, and Bulgaria, and we can define these global capital markets as inefficient.

Integration of Islamic capital market in ASEAN-5 countries

2020 ◽  
Vol 11 (3) ◽  
pp. 811-825
Author(s):  
Ibnu Qizam ◽  
Misnen Ardiansyah ◽  
Abdul Qoyum
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Capital Market ◽  
Market Integration ◽  
Global Financial Crisis ◽  
Content Type ◽  
Stock Market Integration ◽  
Cross Border ◽  
Causality Tests ◽  
The Global Financial Crisis

Purpose The purpose of this study is to investigate the nature and integration of Islamic stock markets across the Association of Southeast Asian Nations (ASEAN-5) countries for economic community (AEC) development. Design/methodology/approach Using samples of daily closing prices from 2009 to 2014 across ASEAN-5 countries, co-integration and Granger-causality tests were applied. Findings This research finds that Islamic capital markets across ASEAN-5 countries remain highly integrated despite the global financial crisis of 2008, and it also finds the integration strength between Jakarta Islamic Index -Indonesia and Bursa Malaysia Emas Sharia-Malaysia Islamic capital markets to be the most influential across ASEAN-5 countries, while MSCI-Philippine Islamic capital market is the most vulnerable across ASEAN-5 Islamic capital markets. Research limitations/implications The overwhelming benefit of Islamic stock market integration across ASEAN-5 countries, and, even in a broader context, awaits further inquiry. Originality/value Islamic capital markets across ASEAN-5 countries are integrated regardless of the post-global financial crisis. This contributes to confirming cross-border integration policies, especially for AEC development.

A Global Perspective on Securitized Debt

2018 ◽  
Author(s):  
Steven L Schwarcz
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Capital Market ◽  
Global Financial Crisis ◽  
The United States ◽  
Global Perspective ◽  
Capital Markets Union ◽  
The Global Financial Crisis ◽  
Asset Backed Securities ◽  
The Eu

Securitisation represents a significant worldwide source of capital market financing. European investors commonly invest in asset-backed securities issued in U.S. securitisation transactions, and vice versa One of the key goals of the European Commission's proposed Capital Markets Union (CMU) is to further facilitate securitisation as a source of capital market financing as a viable alternative to bank-based finance for companies operating in the EU. To that end, this chapter explains securitisation and attempts to put its rise, its decline after the global financial crisis, and its recent CMU-inspired revival into a global perspective. It examines not only securitisation's relationship to the financial crisis but also post-crisis comparative regulatory approaches in the EU and the United States.

scholarly journals Indigenous Water Rights in Comparative Law

2020 ◽  
Vol 9 (3) ◽  
pp. 393-402
Author(s):  
Elizabeth Macpherson
Keyword(s):  
Human Population ◽  
Global Financial Crisis ◽  
Water Rights ◽  
The United States ◽  
Wall Street ◽  
Award Winning ◽  
The Subject ◽  
Academy Award ◽  
Increasing Demand ◽  
Poor Management

At the end of the 2015 Academy Award-winning film The Big Short, which explores the origins of the 2008 Global Financial Crisis, a caption notes that the Wall Street investor protagonist of the film who predicted the collapse of the United States (US) housing market would now be ‘focused on one commodity: water’. Water is sometimes described in popular culture as ‘the new oil’ or ‘more valuable than gold’. It is predicted to be the subject of increasing uncertainty, competition, conflict, and even war, as increasing demand from a growing human population and development meets reduced supply as a result of poor management, overuse, and climate change.

scholarly journals Optimization of Financial Asset Neutrosophic Portfolios

Mathematics ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 1162
Author(s):  
Marcel-Ioan Boloș ◽  
Ioana-Alexandra Bradea ◽  
Camelia Delcea
Keyword(s):  
Capital Market ◽  
Financial Risk ◽  
Financial Asset ◽  
Financial Assets ◽  
Portfolio Risk ◽  
Financial Return ◽  
Additional Information ◽  
Triangular Numbers ◽  
The Capital Market

The purpose of this paper was to model, with the help of neutrosophic fuzzy numbers, the optimal financial asset portfolios, offering additional information to those investing in the capital market. The optimal neutrosophic portfolios are those categories of portfolios consisting of two or more financial assets, modeled using neutrosophic triangular numbers, that allow for the determination of financial performance indicators, respectively the neutrosophic average, the neutrosophic risk, for each financial asset, and the neutrosophic covariance as well as the determination of the portfolio return, respectively of the portfolio risk. There are two essential conditions established by rational investors on the capital market to obtain an optimal financial assets portfolio, respectively by fixing the financial return at the estimated level as well as minimizing the risk of the financial assets neutrosophic portfolio. These conditions allowed us to compute the financial assets’ share in the total value of the neutrosophic portfolios, for which the financial return reaches the level set by investors and the financial risk has the minimum value. In financial terms, the financial assets’ share answers the legitimate question of rational investors in the capital market regarding the amount of money they must invest in compliance with the optimal conditions regarding the neutrosophic return and risk.

Evaluation of Blockchain in Capital Market Use-Cases

2018 ◽  
Vol 10 (1) ◽  
pp. 54-76
Author(s):  
Sinsu Anna Mathew ◽  
Abdul Quadir Md
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Use Cases ◽  
Third Party ◽  
Global Capital ◽  
Distributed Ledger ◽  
The World ◽  
High Integrity ◽  
Middle Man ◽  
Financial Transactions

This article describes the “Blockchain” which is an upcoming technology in the current leading world and which serves as a capital market use-cases for many of the global Fintech industries across the world, is a distributed ledger of economic transactions which not only used for recording financial transactions but mostly everything of value in this world. In the current world, mostly all the transactions are done through online which mainly includes the bank as a “middle man,” which could be untrustworthy at times. Blockchain comes into the picture which eliminates the need of a middle man or third party between the users who are involved in the transactions. Represents a financial ledger entry of data structure which consists of record of transactions which is digitally signed and cannot be tampered as authenticity is ensured in which the ledger is considered to be of high integrity. One of the leading and highly valued platform of blockchain is “Hyperledger Fabric” which is meant for securing transactions and serves a powerful container technology for smart contract development in the global capital firms. The potential of Blockchain and DLT in capital markets in this upcoming world could remove many of the inefficiencies and costs inherent in the global capital markets across the world and could be considered as a viable technology which enable to settlement.

Use Cases for Assessing, Testing, and Validating the Human Machine Interface of Automated Driving Systems

2018 ◽  
Vol 62 (1) ◽  
pp. 1873-1877 ◽  
Author(s):  
Frederik Naujoks ◽  
Sebastian Hergeth ◽  
Katharina Wiedemann ◽  
Nadja Schömig ◽  
Andreas Keinath
Keyword(s):  
Traffic Safety ◽  
Test Methods ◽  
Use Cases ◽  
Highway Traffic ◽  
Automated Vehicles ◽  
Automated Driving ◽  
National Highway Traffic Safety ◽  
Minimum Requirements ◽  
Machine Interface ◽  
Increasing Demand

Reflecting the increasing demand for harmonization of human machine interfaces (HMI) of automated vehicles, different taxonomies of use cases for investigating automated driving systems (ADS) have been proposed. Existing taxonomies tend to serve specific purposes such as categorizing transitions between automation modes; however, they cannot be generalized to different systems or combinations of systems. In particular, there is no exhaustive set of use cases that allows entities to assess and validate the HMI of a given ADS that takes into account all possible system modes and transitions. The present paper describes a newly developed framework based on combinatorics of SAE (Society of Automotive Engineers) automation levels that incorporates a comprehensive taxonomy of use cases required for the assessment and validation of ADS HMIs. This forms a much-needed basis for test methods required to verify whether an HMI meets minimum requirements such as those outlined in the National Highway Traffic Safety Administration’s Federal Automated Vehicles policy.

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