The Stock Markets Reaction To Unempolyment News Why Bad News Is Usually Good For Stocks

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The Stock Market's Reaction to Unemployment News

Author : John H. Boyd
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (247 download)

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Book Synopsis The Stock Market's Reaction to Unemployment News by : John H. Boyd

Download or read book The Stock Market's Reaction to Unemployment News written by John H. Boyd and published by . This book was released on 2001 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find that on average an announcement of rising unemployment is 'good news' for stocks during economic expansions and 'bad news' during economic contractions. Thus stock prices usually increase on news of rising unemployment, since the economy is usually in an expansion phase. We provide an explanation for this phenomenon. Unemployment news bundles two primitive types of information relevant for valuing stocks: information about future interest rates and future corporate earnings and dividends. A rise in unemployment typically signals a decline in interest rates, which is good news for stocks, as well as a decline in future corporate earnings and dividends, which is bad news for stocks. The nature of the bundle -- and hence the relative importance of the two effects -- changes over time depending on the state of the economy. For stocks as a group, and in particular for cyclical stocks, information about interest rates dominates during expansions and information about future corporate earnings dominates during contractions

The Stock Market's Reaction to Unemployment News

Author : John H. Boyd
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Stock Market's Reaction to Unemployment News by : John H. Boyd

Download or read book The Stock Market's Reaction to Unemployment News written by John H. Boyd and published by . This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find that on average an announcement of rising unemployment is quot;good newsquot; for stocks during economic expansions and quot;bad newsquot; during economic contractions. Unemployment news bundles three types of primitive information relevant for valuing stocks: information about future interest rates, equity risk premium, and corporate earnings and dividends. The nature of the information bundle - and hence the relative importance of the three effects - changes over time depending on the state of the economy. For stocks as a group, information about interest rates dominates during expansions and information about future corporate dividends and/or the equity risk premium dominates during contractions.

The Stock Market's Reaction to Unemployment New

Author : John H. Boyd
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (86 download)

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Book Synopsis The Stock Market's Reaction to Unemployment New by : John H. Boyd

Download or read book The Stock Market's Reaction to Unemployment New written by John H. Boyd and published by . This book was released on 2001 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Stock Market's Reaction to Unemployment News, Stock-Bond Return Correlations, and the State of the Economy

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

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Book Synopsis The Stock Market's Reaction to Unemployment News, Stock-Bond Return Correlations, and the State of the Economy by : John H. Boyd

Download or read book The Stock Market's Reaction to Unemployment News, Stock-Bond Return Correlations, and the State of the Economy written by John H. Boyd and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We confirmBoyd et al.'s (2005) finding that on average a surprise increase in unemployment is quot;good newsquot; for stocks during economic expansions and quot;bad newsquot; during economic contractions. Unemployment news bundles information about future interest rates, equity risk premium, and corporate earnings. For stocks as a group information about interest rates dominates during expansions, and information about future earnings dominates during contractions. Hence, (a) ceteris paribus, the correlation between stock and bond returns will be greater during economic expansions and (b) stock price responses to the unemployment news will convey information about the state of the economy.

The Stock Markets Reaction to Unempolyment News: why Bad News is Usually Good for Stocks

Author : John H. Boyd
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (848 download)

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Book Synopsis The Stock Markets Reaction to Unempolyment News: why Bad News is Usually Good for Stocks by : John H. Boyd

Download or read book The Stock Markets Reaction to Unempolyment News: why Bad News is Usually Good for Stocks written by John H. Boyd and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Stock Market's Reaction to Unemployment News

Author : He Huang
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (156 download)

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Book Synopsis The Stock Market's Reaction to Unemployment News by : He Huang

Download or read book The Stock Market's Reaction to Unemployment News written by He Huang and published by . This book was released on 2005 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Explaining the Stock Market's Reaction to Unemployment News Over the Business Cycle

Author : Joost Driessen
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Explaining the Stock Market's Reaction to Unemployment News Over the Business Cycle by : Joost Driessen

Download or read book Explaining the Stock Market's Reaction to Unemployment News Over the Business Cycle written by Joost Driessen and published by . This book was released on 2019 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of unemployment news on stock markets throughout the business cycle. We show dependence of the reaction to the economic environment by studying the reaction in multiple economic environments that are defined based on both the level and momentum of economic activity. Applying the Campbell-Shiller decomposition combined with a VAR model, we attribute the stock market reactions on a daily basis to its main drivers: changes in the risk free rate, risk premium and dividends. The decomposition of daily returns shows that all three drivers are important determinants of announcement returns.

How Novelty and Narratives Drive the Stock Market

Author : Nicholas Mangee
Publisher : Cambridge University Press
ISBN 13 : 1108983588
Total Pages : 451 pages
Book Rating : 4.1/5 (89 download)

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Book Synopsis How Novelty and Narratives Drive the Stock Market by : Nicholas Mangee

Download or read book How Novelty and Narratives Drive the Stock Market written by Nicholas Mangee and published by Cambridge University Press. This book was released on 2021-10-14 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Animal spirits' is a term that describes the instincts and emotions driving human behaviour in economic settings. In recent years, this concept has been discussed in relation to the emerging field of narrative economics. When unscheduled events hit the stock market, from corporate scandals and technological breakthroughs to recessions and pandemics, relationships driving returns change in unforeseeable ways. To deal with uncertainty, investors engage in narratives which simplify the complexity of real-time, non-routine change. This book assesses the novelty-narrative hypothesis for the U.S. stock market by conducting a comprehensive investigation of unscheduled events using big data textual analysis of financial news. This important contribution to the field of narrative economics finds that major macro events and associated narratives spill over into the churning stream of corporate novelty and sub-narratives, spawning different forms of unforeseeable stock market instability.

The Handbook of News Analytics in Finance

Author : Gautam Mitra
Publisher : John Wiley & Sons
ISBN 13 : 1119990807
Total Pages : 384 pages
Book Rating : 4.1/5 (199 download)

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Book Synopsis The Handbook of News Analytics in Finance by : Gautam Mitra

Download or read book The Handbook of News Analytics in Finance written by Gautam Mitra and published by John Wiley & Sons. This book was released on 2011-07-13 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of News Analytics in Finance is a landmarkpublication bringing together the latest models and applications ofNews Analytics for asset pricing, portfolio construction, tradingand risk control. The content of the Hand Book is organised to provide arapid yet comprehensive understanding of this topic. Chapter 1 setsout an overview of News Analytics (NA) with an explanation of thetechnology and applications. The rest of the chapters are presentedin four parts. Part 1 contains an explanation of methods and modelswhich are used to measure and quantify news sentiment. In Part 2the relationship between news events and discovery of abnormalreturns (the elusive alpha) is discussed in detail by the leadingresearchers and industry experts. The material in this part alsocovers potential application of NA to trading and fund management.Part 3 covers the use of quantified news for the purpose ofmonitoring, early diagnostics and risk control. Part 4 is entirelyindustry focused; it contains insights of experts from leadingtechnology (content) vendors. It also contains a discussion oftechnologies and finally a compact directory of content vendor andfinancial analytics companies in the marketplace of NA. Thebook draws equally upon the expertise of academics andpractitioners who have developed these models and is supported bytwo major content vendors - RavenPack and Thomson Reuters - leadingproviders of news analytics software and machine readablenews. The book will appeal to decision makers in the banking, finance andinsurance services industry. In particular: asset managers;quantitative fund managers; hedge fund managers; algorithmictraders; proprietary (program) trading desks; sell-side firms;brokerage houses; risk managers and research departments willbenefit from the unique insights into this new and pertinent areaof financial modelling.

Macroeconomic News Effects in Commodity Futures and German Stock and Bond Futures Markets

Author : He Huang
Publisher : BoD – Books on Demand
ISBN 13 : 3899368924
Total Pages : 222 pages
Book Rating : 4.8/5 (993 download)

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Book Synopsis Macroeconomic News Effects in Commodity Futures and German Stock and Bond Futures Markets by : He Huang

Download or read book Macroeconomic News Effects in Commodity Futures and German Stock and Bond Futures Markets written by He Huang and published by BoD – Books on Demand. This book was released on 2010 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: A well-known concept in modern capital market theory is that only systematic risk factors affect security prices. Macroeconomic announcements are among the most important news for financial markets because the state of the economy is a prime candidate for such a source of non-diversifiable risk. This book investigates the effects of US macroeconomic news on three financial markets that have received less attention in the literature so far. The markets of interest are the commodity futures market, the German stock index futures market, and the German bond futures market. I investigate not only price effects, but also liquidity effects as well as the channels of cross-border information flow. I find that commodity markets as well as international stock and bond markets are likewise affected by the release of US macroeconomic news. The strength of the commodity price response depends on the state of the economy and news about the US economy is more important for German stock markets than domestic economic news. For an investor in any of these markets, this book provides valuable information on how to adjust his trading strategies around the release of macroeconomic news. Moreover, my findings contribute to the understanding of cross-border information flow. First, I find that both domestic and foreign economic news induce significant price and liquidity effects. Second, I find that there are two important channels of information transmission for foreign news: the direct response to the news and the indirect response to the foreign response to the news.

Understanding Political Science Research Methods

Author : Maryann Barakso
Publisher : Routledge
ISBN 13 : 113662239X
Total Pages : 250 pages
Book Rating : 4.1/5 (366 download)

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Book Synopsis Understanding Political Science Research Methods by : Maryann Barakso

Download or read book Understanding Political Science Research Methods written by Maryann Barakso and published by Routledge. This book was released on 2013-12-04 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text starts by explaining the fundamental goal of good political science research—the ability to answer interesting and important questions by generating valid inferences about political phenomena. Before the text even discusses the process of developing a research question, the authors introduce the reader to what it means to make an inference and the different challenges that social scientists face when confronting this task. Only with this ultimate goal in mind will students be able to ask appropriate questions, conduct fruitful literature reviews, select and execute the proper research design, and critically evaluate the work of others. The authors' primary goal is to teach students to critically evaluate their own research designs and others’ and analyze the extent to which they overcome the classic challenges to making inference: internal and external validity concerns, omitted variable bias, endogeneity, measurement, sampling, and case selection errors, and poor research questions or theory. As such, students will not only be better able to conduct political science research, but they will also be more savvy consumers of the constant flow of causal assertions that they confront in scholarship, in the media, and in conversations with others. Three themes run through Barakso, Sabet, and Schaffner’s text: minimizing classic research problems to making valid inferences, effective presentation of research results, and the nonlinear nature of the research process. Throughout their academic years and later in their professional careers, students will need to effectively convey various bits of information. Presentation skills gleaned from this text will benefit students for a lifetime, whether they continue in academia or in a professional career. Several distinctive features make this book noteworthy: A common set of examples threaded throughout the text give students a common ground across chapters and expose them to a broad range of subfields in the discipline. Box features throughout the book illustrate the nonlinear, "non-textbook" reality of research, demonstrate the often false inferences and poor social science in the way the popular press covers politics, and encourage students to think about ethical issues at various stages of the research process.

Perspectives, Trends, and Applications in Corporate Finance and Accounting

Author : Zopounidis, Constantin
Publisher : IGI Global
ISBN 13 : 1522561153
Total Pages : 372 pages
Book Rating : 4.5/5 (225 download)

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Book Synopsis Perspectives, Trends, and Applications in Corporate Finance and Accounting by : Zopounidis, Constantin

Download or read book Perspectives, Trends, and Applications in Corporate Finance and Accounting written by Zopounidis, Constantin and published by IGI Global. This book was released on 2018-06-29 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial analyses, investments, and accounting practices are continually developing and improving areas that have seen significant advancements in the past century. However, the recent bankruptcies by major banks, the debt crisis in the European Union, and the economic turmoil in several countries have caused severe downfalls in financial markets and financial systems worldwide. As the world works to recover, it is important to learn from these financial crises to ensure a more secure and sustainable outlook for organizations and the global future. Perspectives, Trends, and Applications in Corporate Finance and Accounting is a crucial resource providing coverage on the stock market, public deficits, investment firms’ performances, banking systems, and global economic trends. This publication highlights areas including, but not limited to, the relationship between the stock market and macroeconomics, earnings management, and pricing models while also discussing previous financial crises. This book is a vital reference work for accountants, financial experts, investment firms, corporate leaders, researchers, and policy makers.

Research Anthology on Macroeconomics and the Achievement of Global Stability

Author : Management Association, Information Resources
Publisher : IGI Global
ISBN 13 : 1668474611
Total Pages : 1953 pages
Book Rating : 4.6/5 (684 download)

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Book Synopsis Research Anthology on Macroeconomics and the Achievement of Global Stability by : Management Association, Information Resources

Download or read book Research Anthology on Macroeconomics and the Achievement of Global Stability written by Management Association, Information Resources and published by IGI Global. This book was released on 2022-08-05 with total page 1953 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has shocked economies around the world and created an era of global instability. As the pandemic comes to a close, it is essential to examine global economies in order to achieve and maintain global stability. By maintaining global stability, the world may be prepared for future economic shocks. The Research Anthology on Macroeconomics and the Achievement of Global Stability discusses the emerging opportunities, challenges, and strategies within the field of macroeconomics. It features advancements in the field that encourage global economic stability. Covering topics such as Islamic banking, international trade, and Econophysics, this major reference work is an ideal resource for economists, government leaders and officials, business leaders and executives, finance professionals, students and educators of higher education, librarians, researchers, and academicians.

Do Markets Respond More to More Reliable Labor Market Data?

Author : Alan B. Krueger
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis Do Markets Respond More to More Reliable Labor Market Data? by : Alan B. Krueger

Download or read book Do Markets Respond More to More Reliable Labor Market Data? written by Alan B. Krueger and published by . This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

High-Frequency Trading

Author : Irene Aldridge
Publisher : John Wiley and Sons
ISBN 13 : 0470579773
Total Pages : 258 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis High-Frequency Trading by : Irene Aldridge

Download or read book High-Frequency Trading written by Irene Aldridge and published by John Wiley and Sons. This book was released on 2009-12-22 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A hands-on guide to the fast and ever-changing world of high-frequency, algorithmic trading Financial markets are undergoing rapid innovation due to the continuing proliferation of computer power and algorithms. These developments have created a new investment discipline called high-frequency trading. This book covers all aspects of high-frequency trading, from the business case and formulation of ideas through the development of trading systems to application of capital and subsequent performance evaluation. It also includes numerous quantitative trading strategies, with market microstructure, event arbitrage, and deviations arbitrage discussed in great detail. Contains the tools and techniques needed for building a high-frequency trading system Details the post-trade analysis process, including key performance benchmarks and trade quality evaluation Written by well-known industry professional Irene Aldridge Interest in high-frequency trading has exploded over the past year. This book has what you need to gain a better understanding of how it works and what it takes to apply this approach to your trading endeavors.

Biomedical and Business Applications Using Artificial Neural Networks and Machine Learning

Author : Segall, Richard S.
Publisher : IGI Global
ISBN 13 : 1799884570
Total Pages : 394 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Biomedical and Business Applications Using Artificial Neural Networks and Machine Learning by : Segall, Richard S.

Download or read book Biomedical and Business Applications Using Artificial Neural Networks and Machine Learning written by Segall, Richard S. and published by IGI Global. This book was released on 2022-01-07 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: During these uncertain and turbulent times, intelligent technologies including artificial neural networks (ANN) and machine learning (ML) have played an incredible role in being able to predict, analyze, and navigate unprecedented circumstances across a number of industries, ranging from healthcare to hospitality. Multi-factor prediction in particular has been especially helpful in dealing with the most current pressing issues such as COVID-19 prediction, pneumonia detection, cardiovascular diagnosis and disease management, automobile accident prediction, and vacation rental listing analysis. To date, there has not been much research content readily available in these areas, especially content written extensively from a user perspective. Biomedical and Business Applications Using Artificial Neural Networks and Machine Learning is designed to cover a brief and focused range of essential topics in the field with perspectives, models, and first-hand experiences shared by prominent researchers, discussing applications of artificial neural networks (ANN) and machine learning (ML) for biomedical and business applications and a listing of current open-source software for neural networks, machine learning, and artificial intelligence. It also presents summaries of currently available open source software that utilize neural networks and machine learning. The book is ideal for professionals, researchers, students, and practitioners who want to more fully understand in a brief and concise format the realm and technologies of artificial neural networks (ANN) and machine learning (ML) and how they have been used for prediction of multi-disciplinary research problems in a multitude of disciplines.

Understanding the Polish Capital Market

Author : Marek Dietl
Publisher : Taylor & Francis
ISBN 13 : 1000817776
Total Pages : 345 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Understanding the Polish Capital Market by : Marek Dietl

Download or read book Understanding the Polish Capital Market written by Marek Dietl and published by Taylor & Francis. This book was released on 2022-12-30 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first stock exchange in Warsaw – capital city of the Kingdom of Poland– was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master’s students in finance, particularly relating to capital markets and economics – predominantly development economics and economic policy.