Forecasting Stock Market Momentum in Nepal: Application of Fuzzy Logic Model

Background: Stock market experts analyse various indicators to estimate the stock market, including historical prices, economic analysis, industry analysis and company analysis, but this study uses historical prices for the NEPSE index, making forecasting more precise. Purpose: The purpose of this study is to explore short-term stock market momentum using fuzzy logic. The study also aims to establish a suitable fuzzy model to predict stock momentum, reduce the risk, and make the right investment decision. Methodology/Design: This study employed exploratory research design to understand the problem of chaotic decision making in the stock market. The mathematical method employed in this study is membership functions, which are part of fuzzy logic. This includes only the commercial banks, as it has the highest market capitalization, 53.11% of total market capitalization. Using 14-day past data as a base, the suggested fuzzy model determines the stock index’s momentum over the next 5 days. Findings: The forecasted trend value for the Nabil, Civil, and Prime Commercial bank is 0.92, 0.92, and 0.80, which shows a bullish trend. Compared to previously collected data, the findings closely reflect the expected real-world values.

Popular indicators of the crisis in financial markets

The article provides an overview of the factors that ensure the growth of the US stock market despite the fact that a number of popular indicators signal the opposite. The dynamics of indicators (Total Market Cap) / GDP, (Total Market Cap) / (GDP + Total Assets of Fed) and P/E, Shiller P/E ratios are presented. According to Buffett’s Total Market Cap / GDP indicator, the stock market is now “significantly overvalued” and the Shiller P/E ratio has surpassed the “Great Depression” period. At the same time, an increase in the amount of money in circulation as a result of the implementation of Quantitative easing (QE) programs of the FRS, inflation risk and a decrease in the profitability of investments in alternative assets (government and corporate bonds) are forcing investors to stay in stocks and continue to build up positions despite the increase risks and a decrease in potential profitability in the future. The growth of the US stock market is also stimulated by the buyback programs of companies and the inflow of foreign capital. In 2020, there was a V-shaped recovery in the economy, and an absolute record for the amount of funds raised was set in the IPO market. Thanks to financial incentives, the stock market will continue to grow even despite the pandemic and overvalued assets, but the notorious “black swan” may become the “trigger” for the start of the crisis in the financial markets.

An Empirical Analysis of the Annual Report Effect of High Market Capitalization Companies in China

In this paper, we study the abnormal stock price returns of the top 10 stocks in the Chinese stock market in terms of total market capitalization before and after the release of their annual reports in the past 10 years, using the event study method implemented by the Event Study package of the Alpha Library under Python, using a market model to estimate normal returns. The results find that and most of the events have insider phenomenon.

Lignosulphonates as an Alternative to Non-Renewable Binders in Wood-Based Materials

Lignin is a widely abundant renewable source of phenolic compounds. Despite the growing interest on using it as a substitute for its petroleum-based counterparts, only 1 to 2% of the global lignin production is used for obtaining value-added products. Lignosulphonates (LS), derived from the sulphite pulping process, account for 90% of the total market of commercial lignin. The most successful industrial attempts to use lignin for wood adhesives are based on using this polymer as a partial substitute in phenol-formaldehyde or urea-formaldehyde resins. Alternatively, formaldehyde-free adhesives with lignin and lignosulphonates have also been developed with promising results. However, the low number of reactive sites available in lignin’s aromatic ring and high polydispersity have hindered its application in resin synthesis. Currently, finding suitable crosslinkers for LS and decreasing the long pressing time associated with lignin adhesives remains a challenge. Thus, several methods have been proposed to improve the reactivity of lignin molecules. In this paper, techniques to extract, characterize, as well as improve the reactivity of LS are addressed. The most recent advances in the application of LS in wood adhesives, with and without combination with formaldehyde, are also reviewed.

Service Robots: Trends and Technology

The 2021 sales volume in the market of service robots is attractive. Expert reports from the International Federation of Robotics confirm 27 billion USD in total market share. Moreover, the number of new startups with the denomination of service robots nowadays constitutes 29% of the total amount of robotic companies recorded in the United States. Those data, among other similar figures, remark the need for formal development in the service robots area, including knowledge transfer and literature reviews. Furthermore, the COVID-19 spread accelerated business units and some research groups to invest time and effort into the field of service robotics. Therefore, this research work intends to contribute to the formalization of service robots as an area of robotics, presenting a systematic review of scientific literature. First, a definition of service robots according to fundamental ontology is provided, followed by a detailed review covering technological applications; state-of-the-art, commercial technology; and application cases indexed on the consulted databases.

Stock liquidity and stock return: an asymmetric impact of institutional ownership approach

Purpose This study is primarily aimed at investigating the asymmetric impact of institutional ownership on the relationship between stock liquidity and stock return. It was conducted by testing the hypotheses regarding efficient monitoring and adverse selection from Tehran Stock Exchange (TSE). Design/methodology/approach Using a panel smooth transition regression model and selecting 183 firms for the period from 2009 to 2019 from TSE, this study examined the data to explore the asymmetric impact of institutional ownership on the relationship between stock liquidity and stock return. Findings The results show a positive impact by institutional ownership on the relationship between stock liquidity and stock return in the first regime (threshold level 39%), whereas in the second regime, there is a negative impact by institutional ownership on the relationship between stock liquidity and stock return. Furthermore, the firms were divided into two groups based on the market value. The first group includes those with a market share less than the mean total market value of the sample. The second group includes firms with a market share higher than the mean total market value of the sample (large firms). The results illustrate that the threshold level is 32% and 44% for the first and second groups, respectively. Originality/value The findings of this study suggest that institutional ownership theories require closer inquiry.

Investigation into the efficiencies of European football clubs with bi-objective multi-criteria data envelopment analysis

A financially successful football club can achieve sporting achievements as well as become financially stable. From this point of view, in this study, the efficiencies of clubs were investigated with the Bi-Objective Multi-Criteria Data Envelopment Analysis (BiO-MCDEA) model by using financial and sporting data of the 2015-2016, 2016-2017 and 2017-2018 seasons of 10 football clubs in the Big-Five League which is the locomotive of the football industry. In the study, the number of social media followers, the average number of viewers and total market value were used as input, and the UEFA club score and total revenues were used as output. As a result, Arsenal, Paris Saint-Germain, and Juventus were determined as efficient in the 2015-2016 season, Paris Saint-Germain and Liverpool in the 2016-2017 season, Manchester United, Paris Saint-Germain and Chelsea in the 2016-2017 season. The reasons as to why Paris Saint-Germain was efficient in all three seasons were also examined. In addition, in the sensitivity analysis conducted to determine the effect of inputs and outputs on the model, it was concluded that efficiency was highly related to financial data.

The Practice of Oldhammer: Re-Membering a Past Through Craft and Play

Games Workshop is a juggernaut in the world of tabletop games and miniatures with a long history and near total market dominance of the wargaming industry. However, over the last decade Oldhammer, a game and hobby community, has sought to contest this hegemony by rejecting Game Workshop’s 21st century games, miniatures, and aesthetics in favor of an attempted return to an earlier vision of the Games Workshop hobby and an accompanying possibility of alterity. We explore how Oldhammer uses memory and craft to return to the conditions of possibility which allowed for other possible tabletop futures and even the potential for resistance. In doing so, we draw on theories of memory, craft, and nostalgia to show how Oldhammer, however imperfectly, contests corporatization and control.

TISSUE SEALING MEDICINAL AGENTS GROUP ON THE PHARMACEUTICAL MARKET OF THE REPUBLIC OF BELARUS

The purpose of this article was to analyze the pharmaceutical market of the tissue sealing agents group of the Republic of Belarus from 2010 to 2018 based on the data presented in the Medmarket database and the State Register of Medicines of the Republic of Belarus of UE «Center of Expertise and Testing in Healthcare». The group of tissue sealing agents (B02F) was found to be characterized by high growth rates and a relatively large market share. During the studied period, it was represented on the Belarusian pharmaceutical market by only one drug - Tachocomb (manufactured by Takeda Pharmaceutical Company Limited, Japan). When analyzing its dynamics in the period from 2010 to 2018 it was found that, in general, the change in the volume of the market for tissue sealing agents correlates with the change in the volume of the total market for hemostatic drugs over the years. During 2010-2018 there is an increase in the volume of sales for this local sealant, both in monetary (by 1.51) and in natural (by 2.01) expressions with a gradual fall of the price. It has been concluded that the development of the tissue sealing agents by domestic manufacturers is urgent and expedient.

Australian Mobile Survey 2021: Mobile Buying and Churn Drivers Stable

Venture Insights has been surveying Australian mobile consumers annually since 2018. The latest survey was conducted in March 2021 and included 1,019 respondents. The results show that price and network performance remain the main purchasing drivers for mobile services, with more than 90% of respondents rating them as important or very important. On price, 86% did not expect to spend more each year for their mobile phone services, which is consistent with previous surveys. The persistent importance of price shows that mobile services are seen as a commodity by many customers. A total of 38% of respondents were considering churning their mobile phone service; of these respondents, 40% chose price as the key churn driver. There is consistent focus on Mobile Virtual Network Operators (MVNOs) driven by price. The survey results suggested that the total market share for MVNOs could increase by 6 percentage points, if all respondents indicating a move to an MVNO actually did so. Only 20% of respondents indicated they were willing to pay more for 5G mobile services or handsets. A majority (55%) of respondents change their mobile phones every 2-3 years; 39% said they would consider purchasing a recycled/refurbished mobile phone at a lower price.