Efficiency and Anomalies in Stock Markets
Efficiency and Anomalies in Stock Markets

Author: Wing-Keung Wong

Publisher: Mdpi AG

Published: 2022-02-17

Total Pages: 232

ISBN-13: 9783036530802

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The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.

STOCK MARKET BEHAVIOR AND INTEGRATION AMONG GLOBAL STOCK MARKETS - AN EMPIRICAL INVESTIGATION
STOCK MARKET BEHAVIOR AND INTEGRATION AMONG GLOBAL STOCK MARKETS - AN EMPIRICAL INVESTIGATION

Author: Arul Sulochana Y

Publisher: Faculty of Management Sciences

Published: 2022-07-28

Total Pages: 0

ISBN-13: 9781998757275

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Investors and researchers have been paying more attention to the emerging stock markets performance. Analysing stock market behaviour and stock market efficiency is important for investors because it allows the investors to understand the stock market behaviour better and consequently make more sensible choices. The investors can make above average profits through investments in different markets by taking advantage of any abnormalities when they occur. In the context of globalization and increasing opportunities to the investors to invest abroad, it is essential for the international portfolio investors from India to understand the level of interdependence among the major stock markets in the world and its impact on the Indian stock market.Efficiency in the domestic stock market has important implications for issuers of equity and portfolio investors. Furthermore, an efficient stock market can attract foreign portfolio investment, support domestic savings and improve the mobility of capital and financial resources. Market efficiency has an important bearing on fund managers and investment bankers and more specifically the investors who are seeking to diversify their portfolio internationally. With increased movement of investment across international boundaries due to the integration of world economies, understanding of global stock market efficiency is also gaining greater becoming more important.It is difficult for the foreign institutional investors to identify profitable markets during negative global cues. Framing an investment policy is difficult by considering native market behaviour alone. Stock market operations are dynamic in nature. newline.

STOCK MARKET BEHAVIOR AND INTEGRATION AMONG GLOBAL STOCK MARKETS - AN EMPIRICAL INVESTIGATION
STOCK MARKET BEHAVIOR AND INTEGRATION AMONG GLOBAL STOCK MARKETS - AN EMPIRICAL INVESTIGATION

Author: Arul Sulochanay

Publisher: Arul Sulochana Y

Published: 2022-11-11

Total Pages: 0

ISBN-13: 9789056739379

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Investors and researchers have been paying more attention to the emerging stock markets performance. Analysing stock market behaviour and stock market efficiency is important for investors because it allows the investors to understand the stock market behaviour better and consequently make more sensible choices. The investors can make above average profits through investments in different markets by taking advantage of any abnormalities when they occur.

Global Capital Markets
Global Capital Markets

Author: Maurice Obstfeld

Publisher: Cambridge University Press

Published: 2004-02-19

Total Pages: 382

ISBN-13: 9780521633178

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Global Stock Market Integration
Global Stock Market Integration

Author: Sabur Mollah

Publisher: Springer

Published: 2016-02-10

Total Pages: 172

ISBN-13: 1137367547

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Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.

Stock Market Liquidity in Chile
Stock Market Liquidity in Chile

Author: Mr.Luis Brandao-Marques

Publisher: International Monetary Fund

Published: 2016-11-16

Total Pages: 29

ISBN-13: 1475554656

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Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority shareholders can help improve stock market liquitidity. Currently, illiquid in Chilean may have to pay 31⁄2 percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code.

Indian Stock Market
Indian Stock Market

Author: Gourishankar S. Hiremath

Publisher: Springer Science & Business Media

Published: 2013-10-28

Total Pages: 135

ISBN-13: 8132215907

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India is one of the major emerging economies of the world and has witnessed tremendous economic growth over the last decades. The reforms in the financial sector were introduced to infuse energy and vibrancy into the process of economic growth. The Indian stock market now has the largest number of listed companies in the world. The phenomenal growth of the Indian equity market and its growing importance in the economy is indicated by the extent of market capitalization and the increasing integration of the Indian economy with the global economy. Various schools of thought explain the behaviour of stock returns. The Efficient Market Theory is the most important theory of the School of Neoclassical Finance based on rational expectation and no-trade argument. The book investigates the growth and efficiency of the Indian stock market in the theoretical framework of the Efficiency Market Hypothesis (EMH). The main objective of the present study is to examine the returns behaviour in the Indian equity market in the changed market environment. A detailed and rigorous analysis, made with the help of the sophisticated time series econometric models, is one of the key elements of this volume. The analysis empirically tests the random walk hypothesis and focuses on issues like nonlinear dynamics, structural breaks and long memory. It uses new and disaggregated data on recent reforms and changes in the market microstructure. The data on various indices including sectoral indices help in measuring the relative efficiency of the market and understanding how liquidity and market capitalization affect the efficiency of the market.

Annual World Bank Conference on Development Economics 1998
Annual World Bank Conference on Development Economics 1998

Author: Boris Pleskovic

Publisher: World Bank Publications

Published: 1999

Total Pages: 428

ISBN-13: 9780821343210

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The 1998 Annual World Bank Conference on Development Economics, the tenth anniversary, was held at the Bank on April 20-21, 1998. The discussions focused on four areas of inquiry:1) the role of geography in countries'success, 2) the role of effective competition and regulatory policies, 3) the causes of financial crises and ways to prevent them, and 4) the effects of ethnic diversity on democracy and growth. The welcoming address by World Bank President James D. Wolfensohn, the opening remarks by chief Economist Joseph Stiglitz, and the tenth anniversary address by the International Monetary Fund Deputy Managing Director Stanley Fischer all focused both on the role of the conference and on the changing perspectives for development.

Drivers of Financial Integration – Implications for Asia
Drivers of Financial Integration – Implications for Asia

Author: Nasha Ananchotikul

Publisher: International Monetary Fund

Published: 2015-07-17

Total Pages: 41

ISBN-13: 1513554816

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Deeper intraregional financial integration is prominent on Asian policymakers’ agenda. This paper takes stock of Asia’s progress toward that objective, analyzing recent trends in cross-border portfolio investment and bank claims. Then, it investigates the drivers of financial integration by estimating a gravity model of bilateral financial asset holdings on a large sample of source and destination countries worldwide, focusing in particular on the role of regulation and institutions. The paper concludes that financial integration in Asia could be enhanced through policies that lower informational frictions, continue to buttress trade integration and capital market development, remove restrictions to foreign flows and bank penetration, and promote a common regulatory framework.