An Empirical Investigation of the Domestic Pricing Error in an Integrated World

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis An Empirical Investigation of the Domestic Pricing Error in an Integrated World by : Kees C. G. Koedijk

Download or read book An Empirical Investigation of the Domestic Pricing Error in an Integrated World written by Kees C. G. Koedijk and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing capital market integration has important implications for the calculation of the cost of capital. In an integrated world the cost of capital should be determined using the International Capital Asset Pricing Model rather than the domestic Capital Asset Pricing Model. In this paper we investigate this issue with an asset pricing model that explicitly allows for deviations from Purchasing PowerParity. The pricing error when using the domestic Capital Asset Pricing Model rather than an International Capital Asset Pricing Model is zero if diversifiable domestic risk is orthogonal to the global market portfolio return and foreign currency changes. We use Hansen's (1982) Generalized Method of Moments to test for orthogonality and implement this test for more than 3000 individual stocks of 10 different countries. We cannot reject that the global market portfolio and the foreign currencies affect the cost of capital of an individual firm through the effect of the global market on the risk premium of the local market and not through the global beta of the firm.

The Dynamics of Emerging Stock Markets

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Publisher : Springer Science & Business Media
ISBN 13 : 3790823899
Total Pages : 214 pages
Book Rating : 4.7/5 (98 download)

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Book Synopsis The Dynamics of Emerging Stock Markets by : Mohamed El Hedi Arouri

Download or read book The Dynamics of Emerging Stock Markets written by Mohamed El Hedi Arouri and published by Springer Science & Business Media. This book was released on 2009-12-24 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging markets have received a particular attention of academic researchers and practitioners since they decided to open their domestic capital markets to foreign participants about three decades ago. At the same time, we remark that theoretical and empirical research in emerging stock markets has been particularly challenged by their fast changes in nature and size under the effects of financial liberalization and reforms. This evolving feature has particularly led to a commensurate increase in sophistication of modeling techniques used for understanding financial markets. In this spirit, the book aims at providing the audience a comprehensive understanding of emerging stock markets in various aspects using modern financial econometric methods. It addresses the empirical techniques needed by economic agents to analyze the dynamics of these markets and illustrates how they can be applied to the actual data. On the other hand, it presents and discusses new research findings and their implications.

Market integration and price transmission in Tajikistan’s wheat markets

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Publisher : Intl Food Policy Res Inst
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)

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Book Synopsis Market integration and price transmission in Tajikistan’s wheat markets by : Ilyasov, Jarilkasin

Download or read book Market integration and price transmission in Tajikistan’s wheat markets written by Ilyasov, Jarilkasin and published by Intl Food Policy Res Inst. This book was released on 2016-08-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extent of market integration and transmission of food price shocks is a major determinant of price stability and overall food security, particularly in developing countries. Few studies have examined these issues for countries in Central Asia, however. This paper aims to fill this gap by examining wheat market integration and price transmission in Tajikistan, the most food-insecure country in Central Asia. In particular, in this study we measure how well wheat market prices in Tajikistan are integrated with international and regional markets, as well as domestically with each other. Subsequently, we assess the nature of price transmission between these markets. Using horizontal price transmission analysis and asymmetric price relationships, a.k.a. rockets and feathers, we demonstrate how prices change in peripheral food-shortage markets compared to markets located in zones with abundant local production.

ERDA Energy Research Abstracts

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Publisher :
ISBN 13 :
Total Pages : 900 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis ERDA Energy Research Abstracts by : United States. Energy Research and Development Administration

Download or read book ERDA Energy Research Abstracts written by United States. Energy Research and Development Administration and published by . This book was released on 1977 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt:

ERDA Energy Research Abstracts

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Publisher :
ISBN 13 :
Total Pages : 1066 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis ERDA Energy Research Abstracts by : United States. Energy Research and Development Administration. Technical Information Center

Download or read book ERDA Energy Research Abstracts written by United States. Energy Research and Development Administration. Technical Information Center and published by . This book was released on 1977 with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Great Divergence Reconsidered

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Publisher : Cambridge University Press
ISBN 13 : 1316239764
Total Pages : 245 pages
Book Rating : 4.3/5 (162 download)

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Book Synopsis The Great Divergence Reconsidered by : Roman Studer

Download or read book The Great Divergence Reconsidered written by Roman Studer and published by Cambridge University Press. This book was released on 2015-01-29 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: In stark contrast to popular narratives, The Great Divergence Reconsidered shows that Europe's rise to an undisputed world economic leader was not the effect of the Industrial Revolution, and cannot be explained by coal or colonial exploitation. Using a wealth of new historical evidence stretching from the seventeenth to the twentieth century, Roman Studer shows that this 'Great Divergence' must be shifted back to the seventeenth century, if not earlier. Europe was characterized by a more powerful transportation system, bigger trade flows, larger and better integrated markets, higher productivity levels, and superior living standards even before the Industrial Revolution brought about far-reaching structural changes and made Europe's supremacy even more pronounced. While the comparison with Europe draws significantly on India, the central conclusions seem to hold for Asia - and indeed the rest of the world - more generally. An interplay of various factors best explains Europe's early and gradual rise, including better institutions, favorable geographical features, increasing political stability, and increasingly rapid advances in science and technology.

Proceedings of Selected Articles of 2013 World Agricultural Outlook Conference

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Publisher : Springer
ISBN 13 : 3642543561
Total Pages : 193 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Proceedings of Selected Articles of 2013 World Agricultural Outlook Conference by : Shiwei Xu

Download or read book Proceedings of Selected Articles of 2013 World Agricultural Outlook Conference written by Shiwei Xu and published by Springer. This book was released on 2014-07-14 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Food security has always been a major global concern and is getting more attention in recent years. In fact, the global economy and stability has been severely challenged by the precarious state of food security, which was exacerbated by a combination of sharp price volatility and disastrous weather conditions related to climate change. The book aims to improve the analysis and projection of agricultural production and marketing, facilitates information exchange to better food supply and demand, and ultimately contributes to enhance world food security and sustainable global agricultural development.

Handbook of the Economics of Finance

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Publisher : Elsevier
ISBN 13 : 9780444513632
Total Pages : 698 pages
Book Rating : 4.5/5 (136 download)

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Book Synopsis Handbook of the Economics of Finance by : G. Constantinides

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

International Journal of Finance and Policy Analysis: Volume 3, Number 1

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Publisher : Universal-Publishers
ISBN 13 : 1612335098
Total Pages : 109 pages
Book Rating : 4.6/5 (123 download)

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Book Synopsis International Journal of Finance and Policy Analysis: Volume 3, Number 1 by :

Download or read book International Journal of Finance and Policy Analysis: Volume 3, Number 1 written by and published by Universal-Publishers. This book was released on 2011-06-30 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: CONTENTS: 1. Measuring Changes in Liquidity Using the Bid-offer Price Proxy: Determinants of Liquidity in the United Kingdom Gilt Market by Moorad Choudhry 2. Impact of Electronic Tax Registers on VAT Compliance: A Study of Kenyan Private Business Firms by I. K. Naibei and E. M. Siringi 3. Foreign Direct Investment Inflows, Merchandize Trade and Economic Growth in India: An Analytical Study by Mousumi Bhattacharya 4. Extension of Technology Adoption Model (TAM) Intention to Use Internet Banking: Evidence from India by V.V.Ravi Kumar, S.K. Bose and P.V.Raghavan 5. Assessment of the Impact of Financial Risk and Market Variables on Expert Investment Preferences in Colombo Stock Exchange by M. M. Fonseka, A.M.T.P. Athauda and G. L. Tian 6. Assessing the Impact of Microfinance Institutions on Financial Development within the West African Monetary and Economic Union by Kanfitine Lare-Lantone 7. Growth of Banking Sector in the Sultanate of Oman: An Analysis by Imran Azad, A.H.M. Saifullah Sadi and Mohd. Faiyaz Click here to download full PDF edition of this issue (free limited time open access) Go to Journal Homepage Go to Series editor website About the Journal The International Journal of Finance and Policy Analysis (IJFPA) aims to publish high-quality papers that are of interest to academicians and practitioners. IJFPA is peer-reviewed and publishes both applied and theoretical papers bi-annually. The journal only considers original manuscripts for publication. IJFPA welcomes contributions in the areas of corporate finance, investments, corporate governance, international finance, financial markets & institutions, credit analysis, financial planning, financial risk management, behavioural finance, financial services management, capital structure, international financial market linkages, portfolio management, financial analysis, financial market regulations, and international banking. Other papers that might be of interest to the readership will be considered for publication. The readership of IJFPA includes academics, professionals, scholars, practitioners, and policy analysts.

Dissertation Abstracts International

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Publisher :
ISBN 13 :
Total Pages : 790 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Dissertation Abstracts International by :

Download or read book Dissertation Abstracts International written by and published by . This book was released on 2007 with total page 790 pages. Available in PDF, EPUB and Kindle. Book excerpt:

IMF Staff papers, Volume 42 No. 3

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Publisher : International Monetary Fund
ISBN 13 : 145197339X
Total Pages : 280 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis IMF Staff papers, Volume 42 No. 3 by : International Monetary Fund. Research Dept.

Download or read book IMF Staff papers, Volume 42 No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1995-01-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes long-term exchange rate modeling. The paper reviews the literature that tests for a unit root in real exchange rates and the closely related work on testing for a unit root in the residual from a regression of the nominal exchange rate on relative prices. It argues that the balance of evidence is supportive of the existence of some form of long-term exchange rate relationship. The paper highlights that the form of this relationship, however, does not accord exactly with a traditional representation of the long-term exchange rate.

International Journal of Economics and Business Studies

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Publisher : Universal-Publishers
ISBN 13 : 1612337120
Total Pages : 52 pages
Book Rating : 4.6/5 (123 download)

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Book Synopsis International Journal of Economics and Business Studies by :

Download or read book International Journal of Economics and Business Studies written by and published by Universal-Publishers. This book was released on with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Proceedings of the International Conference on Business and Management Dynamics 2016: Sustainable economies in the information economy

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Publisher : AOSIS
ISBN 13 : 1928396178
Total Pages : 115 pages
Book Rating : 4.9/5 (283 download)

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Book Synopsis Proceedings of the International Conference on Business and Management Dynamics 2016: Sustainable economies in the information economy by : Joy E. Akahome

Download or read book Proceedings of the International Conference on Business and Management Dynamics 2016: Sustainable economies in the information economy written by Joy E. Akahome and published by AOSIS. This book was released on 2016-12-31 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cape Town, South Africa, 7 Sept. 2016 – 8 Sept. 2016. Theme: Sustainable economies in the information economy. Purpose: To share the quality academic papers presented at the International Conference on Business and Management Dynamics (ICBMD) held from 7 to 8 September 2016 at African Pride Crystal Hotel and Spa in Cape Town. As grey literature, the proceedings are the contributions made by researchers at the conference and are considered the written record of the work that was presented to fellow conference delegates. Methodology: The methodology used varies from researcher to researcher but are suitable for the studies conducted. Thus, on the one hand, studies that were subjective in nature used the interpretive paradigm, where the qualitative approach adopted made used of the interview method to collect data. On the other hand, studies that were objectively inclined adopted the positivist philosophy and used survey questionnaires to collect data. However, there were some academic papers which used mixed methodology because of the nature of the study. Whatever methodology used adhered to the ethos of the philosophies underpinning the methodology. Contribution made to scholarship: The articles come from individual researchers and each article in the proceedings is unique. Mostly, there is no general argument leading from one contribution to the next. However, it is interesting to note that in the area of economic performance it was evident that real exchange rate and net foreign direct investment contribute more towards innovations in economic growth. With regard to human capital development, papers presented evidence that there exists a definite need to explore the phenomenon of personal branding as limited scientific academic research has been done within the field of personal branding or on elements of the topic. Thus, the outcome argues that personal branding has an influence on leadership style which in turn impacts on organisational performance and related hygiene factors. Furthermore, it was demonstrated that current methods or strategies for enforcing institutionalisation of knowledge sharing within an organisation have not been successful, and, as such, new strategies are needed to reinforce efforts to nurture and invigorate the institutionalisation of knowledge sharing within an organisation. With regard to technology and big data impact on organisational performance, it was evident that system performance, memory consumption and CPU utilisation can be used as criteria to compare and evaluate big data technologies to improve organisational performance. Most of the articles’ contribution reemphasised technology education and training as a means of digitising business and improving effectiveness. Target audience: The target readership is academic researchers and business leaders who require access to the latest developments in the fields of economics, information management, business, education, development studies, social sciences and technology. It is also for policymakers and other stakeholders who need a better understanding of the impact of new developments on existing policies and regulations for their review or amendment.

Food Price Volatility and Its Implications for Food Security and Policy

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Publisher : Springer
ISBN 13 : 3319282018
Total Pages : 620 pages
Book Rating : 4.3/5 (192 download)

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Book Synopsis Food Price Volatility and Its Implications for Food Security and Policy by : Matthias Kalkuhl

Download or read book Food Price Volatility and Its Implications for Food Security and Policy written by Matthias Kalkuhl and published by Springer. This book was released on 2016-04-12 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.

Energy Research Abstracts

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Publisher :
ISBN 13 :
Total Pages : 650 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Energy Research Abstracts by :

Download or read book Energy Research Abstracts written by and published by . This book was released on 1977-10 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Nations and Firms in the Global Economy

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Publisher : Cambridge University Press
ISBN 13 : 9780521540575
Total Pages : 492 pages
Book Rating : 4.5/5 (45 download)

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Book Synopsis Nations and Firms in the Global Economy by : Steven Brakman

Download or read book Nations and Firms in the Global Economy written by Steven Brakman and published by Cambridge University Press. This book was released on 2006-03-16 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conclusion: 13.

Proceedings of the XV International symposium Symorg 2016

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Publisher : University of Belgrade, Faculty of Organizational Sciences
ISBN 13 : 8676803269
Total Pages : 1520 pages
Book Rating : 4.6/5 (768 download)

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Book Synopsis Proceedings of the XV International symposium Symorg 2016 by : Ondrej Jaško

Download or read book Proceedings of the XV International symposium Symorg 2016 written by Ondrej Jaško and published by University of Belgrade, Faculty of Organizational Sciences . This book was released on 2016-06-03 with total page 1520 pages. Available in PDF, EPUB and Kindle. Book excerpt: