the effect of macro economic factors on stock return volatility at nse



Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth Новинка

Babatunde Kazeem Impact of Stock Market Performance Indices on Economic Growth

The controversy on the impact of stock market performance and economic growth and development is empirically evaluated in this study, using Nigerian data. This effort is spurred by the raging debate on the relevance of stock market in promoting economic growth. Using the Ordinary Least Square regression method, the empirical evidence suggest that stock market size and turnover ratio promote economic growth, while stock market liquidity hurts economic growth. Although our result suggests that stock mark performance indices promote economic growth and development, this evidence should be viewed with some caution. The measure of stock market performance used in this study may not be adequate. Although the market capitalization ratio (market capitalization/GDP), value of transactions traded ratio (value of transaction traded/GDP), and turnover ratio (value of transaction traded/market capitalization) as proxies of stock market performance has been popular in literature, it clearly does not include other indicators of stock market development like international integration, market concentration, regulatory and institutional indicators and stock market volatility.
Eden Tate Shipanga The Effects of Exchange Rate Volatility on Exports in Namibia Eden Tate Shipanga The Effects of Exchange Rate Volatility on Exports in Namibia Новинка

Eden Tate Shipanga The Effects of Exchange Rate Volatility on Exports in Namibia

This piece of work try address the volatility impacts on export through an extenvsive analysis. The econometric analysis was employed to exploit the theory of cointegration, given the obvious non- stationarity of the time series. The study used Engle-Granger two step procedures. Three measures of exchange rate volatilities were used and produced mixed results. The mean adjusted relative change (V) as a measure of exchange rate volatility indicated positive and insignificant impact on real exports of Namibia. The moving average standard deviation (MASD) as a measure of exchange rate volatility produced a negative insignificant impact of exchange rate volatility on real exports of Namibia. The last measure of exchange rate volatility was the general autoregressive conditional heteroscedasticity (GARCH), which indicated a positive and significant impact of exchange rate volatility on Namibia's real exports. These results suggest that Namibia should start exploring possibility of macro-economic policy independence and be involved in the determination of exchange rate within the CMA framework.
Hassan Mubasher Macro-Economic Variables and Stock Prices in India Hassan Mubasher Macro-Economic Variables and Stock Prices in India Новинка

Hassan Mubasher Macro-Economic Variables and Stock Prices in India

The government's conduct of macroeconomic policy plays a unique and pivotal role in managing economic stability at the national level.As macroeconomic policies that are properly crafted and implemented help overcome many constraints like information asymmetry and coordination failures amongst regulatory institutions and markets, besides; a stable macroeconomic environment enables financial intermediaries to employ savings in productive activities thereby offering handsome returns to investors. Owing to the growth and development of financial markets across emerging economies, particularly India with its domestic saving on the rise, the policy makers, financial markets professionals, research scholars and academia are faced with unprecedented challenges when it comes to understanding volatility in stock market returns, in this direction this book focuses on the influence of select macroeconomic variables on stock market returns in India and will be helpful for business and economics graduates in understanding interaction between various macroeconomic fundamentals and can also serve as first step for research scholars in the field of financial economics.
Narazani Edlira, Basic Sanela, Stojilovska Ana Migration and Empowerment of Women in the Western Balkans Narazani Edlira, Basic Sanela, Stojilovska Ana Migration and Empowerment of Women in the Western Balkans Новинка

Narazani Edlira, Basic Sanela, Stojilovska Ana Migration and Empowerment of Women in the Western Balkans

The book provides an analysis of the effect of migration on the empowerment of women in traditionally patriarchal societies in three Western Balkan countries: Albania, Bosnia-Herzegovina and Macedonia. The study focuses on the household unit and examines the positions of women with and without migration experience in their families. Research findings suggest that the effect of migration on the empowerment of women in three selected dimensions (socio-cultural, economic and domestic decision making) depends crucially on the personal ability of each individual woman to consider the migration experience in light of the complex interface of socio-economic factors in both home and host countries.
Brian Meadows Preserving Biodiversity. The role of economics in international environmental policy-making Brian Meadows Preserving Biodiversity. The role of economics in international environmental policy-making Новинка

Brian Meadows Preserving Biodiversity. The role of economics in international environmental policy-making

How can as much biodiversity as possible be preserved on the Earth? The author claims that the answer to this question lies in the realm of economics. Therefore, in this book he sets out to understand the role that economics plays in international environmental policy-making. He considers both the economic factors and the non-economic factors which are at play in such policy-making, and then considers whether both economic and environmental objectives can be jointly achieved in order to preserve biodiversity.
Shumaila Khalid The effect Of Demographic Factors on Employee Commitment Shumaila Khalid The effect Of Demographic Factors on Employee Commitment Новинка

Shumaila Khalid The effect Of Demographic Factors on Employee Commitment

This study investigated the effect of demographic factors on employee commitment by making a comparison between different groups belonging to one single demographic factor. These demographic factors were age, gender, marital status, years of service in an organization, and the level of education. Participants were 60 full time university teacher, randomly selected from four public universities, located in Rawalpindi and Islamabad. Findings of study suggest that the importance of these factors should not be ignored in retaining employee, decreasing employee turnover intention and earning employee loyalty.
Nehemiah Kiplagat Tuitoek Impact of Safety Committees on Organizational Safety and Health Nehemiah Kiplagat Tuitoek Impact of Safety Committees on Organizational Safety and Health Новинка

Nehemiah Kiplagat Tuitoek Impact of Safety Committees on Organizational Safety and Health

This book examines the impact of Safety Committees on organizational safety and health of Listed Companies at the Nairobi Stock Exchange (NSE). The central theme of the book focuses on factors that affect safety and health at the workplace. The book also establishes the extent to which Safety Committees affect accident rates, man-hours lost, work injury compensation cost and employee safety awareness. Taking a descriptive and analytical approach, the chapters demonstrate how establishment of Safety Committees in some of the listed companies have an effect on safety and health through increased employee training on safety issues, reduced rate of occupational accidents, ill health and thus enhanced employee safety awareness at the workplace. It is envisaged that the issues dealt with in this book, will be invaluable reference material to Academicians, Policy Makers, Non-governmental Organizations, Board of Directors and Top Management of Organizations, Safety Committees, the Directorate of Occupational Health and Safety Services, and future researchers among others. The general reader can also find this book useful.
Sabah Noori Abbas Al Mihyawi Assessment of Investment Attractiveness in Arab Countries Sabah Noori Abbas Al Mihyawi Assessment of Investment Attractiveness in Arab Countries Новинка

Sabah Noori Abbas Al Mihyawi Assessment of Investment Attractiveness in Arab Countries

Doctoral Thesis / Dissertation from the year 2016 in the subject Business economics - Investment and Finance, University of Szczecin (Faculty of Economics and Management), language: English, abstract: The flow of investments in developing countries varies greatly across countries. In this research, due to the lack of capital markets in some of the Arab countries we have been focusing on foreign direct investment as one of types of foreign investment. Foreign investment comprises foreign direct investment (FDI), which inflows have provided the strong impetus on economic development across countries. FDI serves as an important source of supply of funds for domestic investments, promoting capital formation in the host country. Nowadays, more attention is paid to the issues of foreign direct investments at both national and international levels. According to World Investments reports, many developing countries, including the Arab countries, have attracted only small amounts of FDI inflows despite their efforts towards the economic openness. It means many factors impede the flow of foreign capital to Arab countries. The attractiveness of investment is a set of features and factors that allow the investor to evaluate the potential of any country to be more attractive for investment than the other one. Many factors include economic factors, social factors and political factors, which lead to increase in foreign direct investment. The potential investor considers these factors when c...
Katharina Werner The impact of children and marital status on happiness Katharina Werner The impact of children and marital status on happiness Новинка

Katharina Werner The impact of children and marital status on happiness

Seminar paper from the year 2011 in the subject Sociology - Gender Studies, grade: 1,0, University of Cincinnati (College of Business), course: Binary Choice Models, language: English, abstract: - Determining factors influencing happiness and well-being becomes increasingly important as politics solely based on the maximization of income/GDP miss the goal of increasing well-being. - This study utilizes data from the 2008 wave of the General Social Survey - a survey comprised of demographic, behavioral, and attitudinal questions - to determine factors that influence the probability of being happy. - As expected, positive general factors are marriage, a high education and the per capita family income. However, only marriage has a high statistical significance. - Negative determinants are unemployment, the number of hours worked per week, a decrease in the family income and a perceived low relative income (compared to others). - Being a parent, i.e. having at least one child has a negative effect. However, happiness is increasing with a rising number of children. It is important to note that the effects of having children are very different among different groups of people: Children have a strong positive effect on married individuals and a low effect on divorced/separated and widowed ones. Being at least 21 years old when the first child is born increases the likelihood that children have a positive impact on happiness. Surprisingly, the effect of children is positive if the ch...
Mulugeta Tefera Human Capital and Economic Growth in Ethiopia Mulugeta Tefera Human Capital and Economic Growth in Ethiopia Новинка

Mulugeta Tefera Human Capital and Economic Growth in Ethiopia

Thesis (M.A.) from the year 2014 in the subject Business economics - Operations Research, grade: Masters of Science, Wollega University (School of Economics), course: Development Economics, language: English, abstract: The topic of the research is Human Capital and Economic Growth of Ethiopia. The research answered questions such as "does human capital contribute to economic growth of Ethiopia?" with major objective to analyze the short run and long run effect of human capital on economic growth of Ethiopia over 1971 to 2013 using both ordinary least square (OLS) econometric and descriptive methods of data analysis. The data used for the research is secondary time series data collected by the National Bank of Ethiopia over the years 1971 to 2013. Nominal GDP is used as dependent and proxy variable for Economic growth while independent variables are physical capital, active labor force, terms of trade for measure of openness, government expenditure and human capital in the form of expenditure on health and education. Accordingly, the empirical finding shows that human capital in the form of education and health investment has consistent and significant long run effect on economic growth of Ethiopia at 5% level of significance. Keeping the other variables constant, 1% change (increase/decrease) in expenditure in human capital will change (increase/decrease) nominal output by 0.23%. In contrary short run human capital has consistent but insignificant effect on economic g...
Podo Jerina The Effect of Migration on Inequality. Case of Albania Podo Jerina The Effect of Migration on Inequality. Case of Albania Новинка

Podo Jerina The Effect of Migration on Inequality. Case of Albania

This book consists on the effect of migration on inequality by generating the empirical evidence on the relationship between international remittances and income inequality in Albania. It has also been analyzed whether the socio-economic and political factors affect the internal and external migration as Albania is a country on internal and internationally move as it is located in Balkans region. As more than half of the Albanian population has direct exposure to migration phenomena, this book aims to evaluate the level of the effect of remittances on the income inequality during 1992-2012 period by testing cointegration of 21 time series observations through the Johansen Cointegration Test.
Christian Schießl Value Stocks beat Growth Stocks. An empirical Analysis for the German Stock Market Christian Schießl Value Stocks beat Growth Stocks. An empirical Analysis for the German Stock Market Новинка

Christian Schießl Value Stocks beat Growth Stocks. An empirical Analysis for the German Stock Market

Master's Thesis from the year 2012 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,0, University of Bamberg, language: English, abstract: Based on a sample of German stocks listed at the Frankfurt stock exchange, the study investigated the ability of hedge portfolio formation structures, built of three value premium proxies (P/B, P/E, and DY), the size factor, and the technical momentum factor, to generate excess returns in the period 1992 to 2011. The P/B hedge portfolio yields an average return of 1.59 percent per month, the P/E hedge portfolio 0.664 percent, and a portfolio formation approach ranked on DY delivers a return of 0.839. The results of multivariate regressions favor the Fama-French three-factor model in order to explain expected stock returns.
Khim Samitt The Contribution of Trade conditional on Human Capital, Financial Development and Institution to Economic Development. Evidence from ASEAN Nation Khim Samitt The Contribution of Trade conditional on Human Capital, Financial Development and Institution to Economic Development. Evidence from ASEAN Nation Новинка

Khim Samitt The Contribution of Trade conditional on Human Capital, Financial Development and Institution to Economic Development. Evidence from ASEAN Nation

Master's Thesis from the year 2013 in the subject Business economics - Economic Policy, grade: 1,3, , language: English, abstract: This thesis addresses the relationship between economic development and tradeopenness as well as some structural factors (i.e., human capital, financial resources andinstitution) in the ASEAN countries. This thesis has three objectives. First, it attempts toqualitatively describe the ASEAN cooperation in order to promote interest in ASEAN.Second, it quantitatively estimates the effect of international trade on economic developmentof the ASEAN nations. Finally, it investigates how the effect of international trade oneconomic growth varies as a result of differences in human capital, financial resources andinstitution across the ASEAN nations.To accomplish these tasks, panel dataset on the ASEAN nations from 1980 to 2010are collected and pooled OLS, fixed-effect and instrumental variable models are applied tothe dataset. Taking into account a variety of specification issues as well as endogeneity oftrade openness, the research results show that trade openness plays an extremely importantrole on economic development of these countries. In addition, the benefit from tradeopenness is greater in countries that have more educated workers, deeper financial resourcesand better quality of institution. In conclusion, this thesis suggests that these structural factorsneed to be strengthened in order to benefit more from international trade.Key words: Inte...
Yadav Shashidhar, Nanher A.H. Nutrient Management in Mungbean Yadav Shashidhar, Nanher A.H. Nutrient Management in Mungbean Новинка

Yadav Shashidhar, Nanher A.H. Nutrient Management in Mungbean

To Study The Effect Of Different Nutrient Combination And Sources On Mungbean (Vigna Radiata L. Wilczek) In Sandy Loam Soil At Crop Research Centre Of Sardar Vallabhbhai Patel University Of Agriculture And Technology, Meerut (U.P.), During Kharif Season Of 2012. To Study The Effect Of Nutrient Management Practices And Their Sources On Growth, Yield Attributes And Yield Of Mungbean .To Investigate The Effect Of Vermicompost In Association With Chemical Fertilizer On Mungbean. To Study The Economic Gain And Nutrient Uptake By Different Combinations Of Nutrients Sources.
Julijana Angelovska VaR based on SMA, EWMA and GARCH(1,1) Volatility models Julijana Angelovska VaR based on SMA, EWMA and GARCH(1,1) Volatility models Новинка

Julijana Angelovska VaR based on SMA, EWMA and GARCH(1,1) Volatility models

Lots of effort has been expended in improving volatility models since better forecasts translate in to better pricing of assets and better risk management. However the question as to what model should be used to calculate volatility, there is no unique answer as different volatility models were proposed in the literature and were being used by practitioners. To answer which VaR model adequately capture the market risk, three VaR models are tested on stock indices from Croatia, Serbia, Slovenia and Macedonia. The tested VaR models are: simple moving average with rolling windows of 50, 74 (proposed by Risk Metrics) and 100 days, EWMA using 0,9, 0,94 (proposed by Risk Metrics) and 0,96 as smoothing constant λ and different windows of 50, 74 and 100 days, and GARCH(1,1). VaR models are calculated for a one-day holding period at 95% and 99% coverage of the market risk. These competing models are evaluated on the basis of BLF error statistics. The challenge of this work is to come up with the best and easily implementable approach suitable to Former Yugoslavian stock exchange markets, especially for Macedonian and apply time series models for calculating Value at Risk.
Tim Alers Economic Development in Scotland Tim Alers Economic Development in Scotland Новинка

Tim Alers Economic Development in Scotland

Inhaltsangabe:Introduction: This thesis tries to examine the structures, activities, changes and spatial impacts of economic development in Scotland. Looking at the Scottish economy it has to be considered that Scotland is both an integrated part of the UK and the UK economy and a peripheral region within the UK. Therefore Scotland does not have an economy of its own, but the distinctiveness of the region in terms of location, history and recent political devel-opments justifies a closer examination of the matter. Scotland is in many aspects a very heterogeneous region. This is in particular true for the economic structure and a focus on one region cannot be representative. Edinburgh is an exceptionally prosperous region, not only in Scottish terms. However this prosperity and activity in economic development makes Edinburgh an interesting subject for examination. Thus the focus of this thesis lies on the developments in Edinburgh. Economic development is certainly influenced by a vast number of factors and it is impossible to take all of them into account. Within this thesis the emphasis lies on governmental influence on the developments. However European development measures are not considered. Accordingly the thesis aims to look at the ways the promotion of economic development is carried out in Scotland and tries to assess the measures on the background of the distinctiveness of Scotland and Edinburgh. Thus in the first chapter the thesis takes a look at Scotland as a who...
Kassie Melkamu Might and Realities of Child Trafficking Kassie Melkamu Might and Realities of Child Trafficking Новинка

Kassie Melkamu Might and Realities of Child Trafficking

All legal documents, that are considered in this research work, underline that, child trafficking is a worth fighting and a criminal act. But it is amazing that, although there are numerous legal instruments in the country the incidence, nature, effect and realities of child trafficking is unutterably outrageous. Like other parts of the country, Bahir Dar hosts zillion of trafficked children from every corner of the country. This is attributable to various and interdependent factors: economic, social, cultural, political, demographic and environmental factors. Induced by these factors, child trafficking results in serious psychosocial, medical, mental and other consequences on the victims and the community. Therefore, curving the problem and its resultant effects requires seeking solutions from economic, social, cultural, political, demographic and environmental perspective.
Heather Brilliant Why Moats Matter. The Morningstar Approach to Stock Investing Heather Brilliant Why Moats Matter. The Morningstar Approach to Stock Investing Новинка

Heather Brilliant Why Moats Matter. The Morningstar Approach to Stock Investing

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Incorporate economic moat analysis for profitable investing Why Moats Matter is a comprehensive guide to finding great companies with economic moats, or competitive advantages. This book explains the investment approach used by Morningstar, Inc., and includes a free trial to Morningstar's Research. Economic moats—or sustainable competitive advantages—protect companies from competitors. Legendary investor Warren Buffett devised the economic moat concept. Morningstar has made it the foundation of a successful stock-investing philosophy. Morningstar views investing in the most fundamental sense: For Morningstar, investing is about holding shares in great businesses for long periods of time. How can investors tell a great business from a poor one? A great business can fend off competition and earn high returns on capital for many years to come. The key to finding these great companies is identifying economic moats that stem from at least one of five sources of competitive advantage—cost advantage, intangible assets, switching costs, efficient scale, and network effect. Each source is explored in depth throughout this book. Even better than finding a great business is finding one at a great price. The stock market affords virtually unlimited opportunities to track prices and buy or sell securities at any hour of the day or night. But looking past that noise and understanding the value of a business's underlying cash flows is the key to successful long-term investing. When investors focus on a company's fundamental value relative to its stock price, and not where the stock price sits today versus a month ago, a day ago, or five minutes ago, investors start to think like owners, not traders. And thinking like an owner will makes readers better investors. The book provides a fundamental framework for successful long-term investing. The book helps investors answer two key questions: How can investors identify a great business, and when should investors buy that business to maximize return? Using fundamental moat and valuation analysis has led to superior risk-adjusted returns and made Morningstar analysts some of the industry's top stock-pickers. In this book, Morningstar shares the ins and outs of its moat-driven investment philosophy, which readers can use to identify great stock picks for their own portfolios.
Russell Rhoads Trading VIX Derivatives. Trading and Hedging Strategies Using VIX Futures, Options, and Exchange Traded Notes Russell Rhoads Trading VIX Derivatives. Trading and Hedging Strategies Using VIX Futures, Options, and Exchange Traded Notes Новинка

Russell Rhoads Trading VIX Derivatives. Trading and Hedging Strategies Using VIX Futures, Options, and Exchange Traded Notes

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A guide to using the VIX to forecast and trade markets Known as the fear index, the VIX provides a snapshot of expectations about future stock market volatility and generally moves inversely to the overall stock market. Trading VIX Derivatives will show you how to use the Chicago Board Options Exchange's S&P 500 volatility index to gauge fear and greed in the market, use market volatility to your advantage, and hedge stock portfolios. Engaging and informative, this book skillfully explains the mechanics and strategies associated with trading VIX options, futures, exchange traded notes, and options on exchange traded notes. Many market participants look at the VIX to help understand market sentiment and predict turning points. With a slew of VIX index trading products now available, traders can use a variety of strategies to speculate outright on the direction of market volatility, but they can also utilize these products in conjunction with other instruments to create spread trades or hedge their overall risk. Reviews how to use the VIX to forecast market turning points, as well as reveals what it takes to implement trading strategies using VIX options, futures, and ETNs Accessible to active individual traders, but sufficiently sophisticated for professional traders Offers insights on how volatility-based strategies can be used to provide diversification and enhance returns Written by Russell Rhoads, a top instructor at the CBOE's Options Institute, this book reflects on the wide range of uses associated with the VIX and will interest anyone looking for profitable new forecasting and trading techniques.
Shakir Al-ghalayini The Change in the Stock Price Based on the Information Resulting from the Financial Ratios Shakir Al-ghalayini The Change in the Stock Price Based on the Information Resulting from the Financial Ratios Новинка

Shakir Al-ghalayini The Change in the Stock Price Based on the Information Resulting from the Financial Ratios

Master's Thesis from the year 2015 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: %86.20, Islamic University of Gaza, language: English, abstract: This study aimed to predict stock prices in Palestine Stock Exchange (PEX) by testing group of financial ratios and find a quantitative model, in which can be relied upon to predict the stock price for each sector. This model will help investors make rational decisions when they make investment decision in the financial market. To achieve this purpose, (17) financial ratios from (35) listed companies were tested using the available data for period 2009-2013.These ratios were analyzed using multiple regression to find the best model for each sector of (PEX). Several financial ratios can be used to predict the stock price in the industry sector, which are (earning per stock, market price on book value, days sales outstanding, fixed assets turnover, return on equity and profit margin). In the investment sector, the following ratios (market price on book value, assets turnover, market price on cash flow and fixed assets turnover) can be used to predict the stock price. Adding to that, the ratios of (earning per stock, market price on book value and return on equity) can predict the stock price of service sector. In the insurance sector, the ratios of (earning per stock, return on assets, debt ratio and assets turnover) can be used in predicting stock price. Finally, the ratios of (market...
Stefan Detschew Impact of ICT in the developing countries on the economic growth Stefan Detschew Impact of ICT in the developing countries on the economic growth Новинка

Stefan Detschew Impact of ICT in the developing countries on the economic growth

Diploma Thesis from the year 2007 in the subject Business economics - Economic Policy, grade: 1,5, Technical University of Ilmenau (Institut für Wirtschaftswissenschaften), 43 entries in the bibliography, language: English, abstract: This paper discusses the relevance of Information and CommunicationTechnologies (ICT) for economic growth in developing economies. By reviewing thecontributions from the neoclassical and endogenous growth theory and empiricevidences for the link between ICT and economic growth, the paper clearly concludesthat ICTs facilitate economic growth, principally by providing incentives for capitaldeepening and increasing productivity through rapid technological progress.However, the impact on growth is more extensive from the long-term ICT use and networking that though requires appropriate ICT investment and complementary efforts in order that spillovers and productivity improvements are triggered and exploited totally. This paper derives the key determinants and interacting factors that, in the corresponding correct synergic combination, promote ICT's impact on growth-generating processes. For a variety of reasons, the states of these factors in developing countries provide a less ICT favourable environment for taking advantage from ICTs. These economies exhibit a lower stock of human capacities and per capita capital to trigger the productivity benefits from the ICT use.Therefore, the level of effort is higher than in the developed world to receive...
Klaus Schmidt Cultural Factors in Multinational Enterprise Location Klaus Schmidt Cultural Factors in Multinational Enterprise Location Новинка

Klaus Schmidt Cultural Factors in Multinational Enterprise Location

Inhaltsangabe:Abstract: Despite crises and uncertainty in international capital markets, foreign direct investment (FDI) by multinational enterprises (MNE) is booming. The buzzword is globalization. The business world is expected to be moving closer together through more or less recent developments in communication technologies and transportation facilities. The political ideal of democracy along with a liberalization of national economies seems to have finally gained the recognition it deserves as the system that in the end allows for the best utilization of wealth creating endowments. Besides differences in economic development, cultural differences remain as a single important means of distinguishing between people from several nations. The critical issue is that this situation is being recognized and mankind restrains from emphasizing distinctions, and instead focuses an working out compatibility between cultures. Culture has been given the attribute of being responsible for economic performance by several scholars over the past decade. The original aim has been at explaining the continuous growth of the economies of Asian NICs which, however, came to an abrupt and widely unexpected end an 2 July 1997. Still the importance of culture seems to have been underestimated, otherwise the crisis might have been foreseeable. If cultural factors are of significant importance for overall economic performance, i.e. an the macro-economic level, they must be of at least the same impor...
CRISIS AND BREAKDOWN OF NON-DEMOCRATIC REGIMES. Lessons from the Third Wave CRISIS AND BREAKDOWN OF NON-DEMOCRATIC REGIMES. Lessons from the Third Wave Новинка

CRISIS AND BREAKDOWN OF NON-DEMOCRATIC REGIMES. Lessons from the Third Wave

The essays in this volume draw on an analysis of over 80 attempts at democratic regime change, some successful, others not, in what Samuel Huntington termed the "Third Wave" of democratization. Why do some authoritarian regimes collapse in the face of pressures to democratize, while others survive? And what does this tell us, in turn, about the factors thought to promote democracy? The essays in this volume draw on a comprehensive analysis of over 80 attempts at democratic regime change, some successful, others not, in what Samuel Huntington memorably termed the "Third Wave" of democratization, beginning with Portugal's Carnation Revolution in 1974.The focus is on factors-internal, external, and contextual-that can promote democratic regime change, and under what conditions they are effective or ineffective. Legacies of the past, civil society, and elite dynamics are among the internal factors under examination, along with economic development and crises, and the role of "stateness," especially when it is weak. On the external front, chapters address both structural (long-term) and conjunctural (short-term) factors, with particular attention to the varying impacts of interventions by international actors, whether specifically intended to promote democracy or not. Geography (political, economic, human, and cultural), which helps delimit and condition the process of political change, also receives attention.While some scholars argue that we have now ...
Arjeta Hallunovi Determinants of profitability in commercial banks in Albania Arjeta Hallunovi Determinants of profitability in commercial banks in Albania Новинка

Arjeta Hallunovi Determinants of profitability in commercial banks in Albania

Scientific Study from the year 2018 in the subject Economics - Finance, grade: 12, , language: English, abstract: This study examines the determinants of profitability of commercial banks in Albania. These determinants are categorized into two groups, internal factors that are the bank specific factors and external factors that are further divided into macroeconomic factors and industry specific factors.The main objective of the study is to determine the factors affecting the profitability of commercial banks and making some recommendations, that maybe can help the management and policymakers. A panel data with 16 commercial banks in Albania is analyzed for the period 2009-2014. Two indicators are used (dependent variables) for the measurement of profitability, return on assets (ROA) and return on equity (ROE). Banking specific factors that are used in this study include variables such as bank size, asset management, credit risk, liquidity of assets, capital adequacy, operational efficiency and cost of financing. On the other hand is taken into consideration only one industry specific factor, which is the concentration and macroeconomic factors such as GDP, inflation and exchange rate. To meet the main object of the research, the study is based mainly on quantitative research method, which is supplemented by a qualitative method. Quantitative data were obtained mainly from the financial statements of commercial banks, by INSTAT, Bank of Albania, and World Bank, in order to ma...
Daniela Antonescu Theoretical and Practical Approaches of Innovation at Regional Level in Romania Daniela Antonescu Theoretical and Practical Approaches of Innovation at Regional Level in Romania Новинка

Daniela Antonescu Theoretical and Practical Approaches of Innovation at Regional Level in Romania

Scientific Study from the year 2015 in the subject Business economics - Economic Policy, , language: English, abstract: During the last period, innovation represented the core topic of a wide number of studies and analyses due to the potential impact it could have on the development level of a country or a region. This aspect is relatively easy to explain: innovation represents an important source of regional/national competitiveness, a modern factor of growth and economic resilience, but also the fundamental objective of the current programming period and of the Europe 2020 Strategy.According to theory, innovation is a process that takes place predominantly at micro-economic level. Still, its approach at regional level gains increasingly more room within economic approaches starting from the premise that innovative performances of a company depend directly and to a large share on the endogenous local potential, but also on a combination of factors of influence, determined by the specifics and conditions of the area.The study intends to analyse from the theoretical and practical viewpoint the role of the innovation process within economic development and growth at regional and national level.
Rami Saleh The Economic . Profitability Impact of Mergers . Acquisitions among Banks in Lebanon Rami Saleh The Economic . Profitability Impact of Mergers . Acquisitions among Banks in Lebanon Новинка

Rami Saleh The Economic . Profitability Impact of Mergers . Acquisitions among Banks in Lebanon

Doctoral Thesis / Dissertation from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, , language: English, abstract: A study of the impact of mergers and acquisitions on the economic profitability among Banks in Lebanon
David Rwanyamugabo, Stephen Mugabi The Analysis of the causes of food price increase and policy options to enhance food security in Rwanda David Rwanyamugabo, Stephen Mugabi The Analysis of the causes of food price increase and policy options to enhance food security in Rwanda Новинка

David Rwanyamugabo, Stephen Mugabi The Analysis of the causes of food price increase and policy options to enhance food security in Rwanda

Bachelor Thesis from the year 2018 in the subject Economics - Other, University of Rwanda (college of Business and Economics), course: Bsc.Economics, language: English, abstract: Market is the main arbiter of how the available food is distributed both within and between countries. Food price volatility informs consumers and price analysts and availability of food in the region. Food price surges reduce purchasing power of households that are weekly linked to markets and remain obstacle in the way to feed the poor adequately. thus, food price surges lead poor people to limit their food consumption and shift to even less balanced diets, with harmful effects on health in short and long run.The research found out that prices escalated from 2008-2015 and the major factors gearing food price volatility is said to be caused by a number of factors such as climatic changes, population explosion, Development of tourism which increased aggregate demand and joining world market.In the light of the government of Rwanda efforts are aimed to ensure food security to its population, food price volatility could capture the attention of the government of Rwanda, therefore food price policies should be oriented to stabilization of price of food commodities which price volatility granger cause price volatility in other food commodity prices.
Luc Bauwens Handbook of Volatility Models and Their Applications Luc Bauwens Handbook of Volatility Models and Their Applications Новинка

Luc Bauwens Handbook of Volatility Models and Their Applications

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A complete guide to the theory and practice of volatility models in financial engineering Volatility has become a hot topic in this era of instant communications, spawning a great deal of research in empirical finance and time series econometrics. Providing an overview of the most recent advances, Handbook of Volatility Models and Their Applications explores key concepts and topics essential for modeling the volatility of financial time series, both univariate and multivariate, parametric and non-parametric, high-frequency and low-frequency. Featuring contributions from international experts in the field, the book features numerous examples and applications from real-world projects and cutting-edge research, showing step by step how to use various methods accurately and efficiently when assessing volatility rates. Following a comprehensive introduction to the topic, readers are provided with three distinct sections that unify the statistical and practical aspects of volatility: Autoregressive Conditional Heteroskedasticity and Stochastic Volatility presents ARCH and stochastic volatility models, with a focus on recent research topics including mean, volatility, and skewness spillovers in equity markets Other Models and Methods presents alternative approaches, such as multiplicative error models, nonparametric and semi-parametric models, and copula-based models of (co)volatilities Realized Volatility explores issues of the measurement of volatility by realized variances and covariances, guiding readers on how to successfully model and forecast these measures Handbook of Volatility Models and Their Applications is an essential reference for academics and practitioners in finance, business, and econometrics who work with volatility models in their everyday work. The book also serves as a supplement for courses on risk management and volatility at the upper-undergraduate and graduate levels.
Jan Becker Big Data Investments. Effects of Internet Search Queries on German Stocks Jan Becker Big Data Investments. Effects of Internet Search Queries on German Stocks Новинка

Jan Becker Big Data Investments. Effects of Internet Search Queries on German Stocks

In recent years, the internet has developed very quickly and became a major source of information all over the planet. Many scientists have used search engine query data to forecast econometric time series like consumer confidence indicators, unemployment rates, retail sales, house price indices, stock prices, volatility of stocks and even commodity prices.Following the prior research this study analyzes the impact of internet search engine data on capital markets. Many authors already have contributed to index level data and most of them on the US market.This study adds to the existing literature on the German stock market. Two research questions are answered: First, whether an increase in search queries drives individual stock returns and second, whether queries affect the implied volatility of stock options.After controlling for seasonality, autocorrelation and general market risk, in the further analysis also the Price-to-Book valuation, one year performance and historical volatility are examined in interaction with internet search queries.
Lornaida McCune Social Economics of Organic Production in Columbia.s Farmer.s Market Lornaida McCune Social Economics of Organic Production in Columbia.s Farmer.s Market Новинка

Lornaida McCune Social Economics of Organic Production in Columbia.s Farmer.s Market

The research involves preliminary field investigation of the impacts of social demands on economic decisions made by producers, such agricultural management among farmers participating in Columbia's Famer's Market. The focus of the research will be on determining if social pressures to change agricultural management practices (increase of demand for organic products) have had any effect on the farmers. Also of concern to the research is how consumer requests for changes have affected farmers' agricultural decisions over time. The research will enhance MU visibility through its contribution to a growing social interest on agricultural production and management processes, to humanistic economic research on the social factors affecting economic decisions, and to anthropological work on the rapid growth of social interest in food production. The overall objective of this proposed research is to analyze the management and decision making of farmers in the Columbia's Farmer's Market to see the influence of social factors.
Iryna Dubylovska The effect of ownership on the determinants of profitability in the Russian banking sector Iryna Dubylovska The effect of ownership on the determinants of profitability in the Russian banking sector Новинка

Iryna Dubylovska The effect of ownership on the determinants of profitability in the Russian banking sector

Master's Thesis from the year 2013 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 70/100, University College London, course: Business Economics, language: English, abstract: This paper examines variations in the return on assets (ROA), return on equity (ROE), net interest margin (NIM), and operating cost ratio (OCR) determinantsacross ownership structures in 350 Russian banking institutions over the years 2002 to 2012. It is innovative in three ways: firstly, it brings together financial and corporate governance indicators as explanatory variables; secondly, it uses an extensive number of dependent and explanatory variables compared with previous studies on Russia; thirdly, it classifies the ownership of banking institutions using the definition of majority ownership at 20% level.The findings suggest that there are some differences in the determinants of bank's profitability by ownership type: personnel cost ratio and bank portfoliocomposition ratio dominate in state-influenced banks; capitalisation, reserves and default risk ratios dominate in domestic private-owned banks; and capitalisation ratios dominate in foreign-owned banks. Operating efficiency and credit risk are important factors influencing performance across all ownership types. Furthermore, control variables such as inflation, GDP growth, the size of the banking sector, and the bank asset share ratio are significant, suggesting that they play an important role ...
John Muraguri, Peter Keiyoro Influences of Degree Choices Among Females in Kenyan Universities . John Muraguri, Peter Keiyoro Influences of Degree Choices Among Females in Kenyan Universities . Новинка

John Muraguri, Peter Keiyoro Influences of Degree Choices Among Females in Kenyan Universities .

This study aimed at investigating the factors influencing choice of degree courses among female students at the University of Nairobi in the 2010/2011 cohort. Factors affecting choice of degree courses has been of concern especially as it directly impacts on the Government policy on Gender(GoK ,2005) that requires 30% of all jobs be held by women across all careers. A knowledge gap exists on the reasons for undergraduate female students choices of various degrees courses at university level. Reasons influencing the career choices among women students has been postulated to include self-efficacy, socio-economic factors, gender factors and lack of adequate information or poor career guidance. The moderating and intervening variables such as university admission criteria, performance at the National examinations, family background and , teachers and peer influence, school facilities, national education policies have been found in this study as possible contributing factors to the choice of degree courses and careers among female students in Universities in Kenya.
Andrea Lieske Myanmar. pre-colonial . colonial socio-economic developments Andrea Lieske Myanmar. pre-colonial . colonial socio-economic developments Новинка

Andrea Lieske Myanmar. pre-colonial . colonial socio-economic developments

Seminar paper from the year 2011 in the subject Geography / Earth Science - Regional Geography, grade: 1,0, University of Cologne (Geographisches Institut), course: Oberseminar Socio-economic developments in Myanmar, language: English, abstract: IntroductionModern-day Republic of the Union of Myanmar, formerly known as Burma, is shaped by its geographical idiosyncrasies and its history. Both factors are blended into the socio-economic developments of the country which are addressed in this paper. The focus here lies on the pre-colonial and colonial times. The names Burma and Myanmar are used equivalent and without political implications.To approximate an assessment of those two phases, it is necessary start with a short introduction to the crucial geographic and historical factors affecting the social-economic developments until 1948, the year of Myanmar's independence. The definition of the term socio-economic developments is allocated here as well. Subsequently a short overview on the most important periods of Myanmar's history is added. The following detailed description of history and socio-economic conditions and developments of three distinct periods, the Pyu city states, the Konbaung Dynasty and the British rule, enables a general view on the socio-economic developments of the time before the state's independence in 1948. This paper will proceed along one basic assumption: Independent of their time and their technological cultures all three Empires dealt wi...
Evelyn Rill The Role of Market-Maker/Dealer Inventories in the Price Formation Process Evelyn Rill The Role of Market-Maker/Dealer Inventories in the Price Formation Process Новинка

Evelyn Rill The Role of Market-Maker/Dealer Inventories in the Price Formation Process

Bachelor Thesis from the year 2015 in the subject Business economics - Economic Policy, grade: 1,3, University of Frankfurt (Main) (Faculty of Economics and Business Administration), course: Chair of Corporate Finance, language: English, abstract: Due to the importance of inventories and the fact that asymmetric information models are extensively discussed in literature, this thesis exclusively focuses on inventory control models and provides a survey of theory and empirical results on the role of inventory in the price formation process. Because most of the relevant literature is based on the U.S. exchange market, this thesis is mainly confined on inventory control of specialists on the New York Stock Exchange (NYSE) and of dealers on the National Association of Securities Dealers (NASDAQ). To understand the costs of holding inventory, Section 2 introduced three important drivers of inventory: capital constraints, liquidity and volatility. Section 3 summarises the effect of market maker inventory and its costs on liquidity and how this affects the bid-ask spread. In Section 4, the impact of inventory on asset prices, especially of inventory levels, is discussed in more detail. Section 5 briefly turns to changes in market structure and how they affect the role of traditional market makers and their inventories. Section 6 finally concludes.
Xinyin Chen Youth Success and Adaptation in Times of Globalization and Economic Change. New Directions for Youth Development, Number 135 Xinyin Chen Youth Success and Adaptation in Times of Globalization and Economic Change. New Directions for Youth Development, Number 135 Новинка

Xinyin Chen Youth Success and Adaptation in Times of Globalization and Economic Change. New Directions for Youth Development, Number 135

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Today’s youth is confronted not only with the developmental tasks of adolescence, but also with substantial social and economic changes on the macro level originating from globalization and economic volatility. Presenting research on the implications of social and economic changes for today’s youth, this volume covers important topics: Adolescents’ future perspectives The competencies they need to prosper in specific cultures Changes related to family and school Gender differences in economic roles within changing societies The effects of technological progress on their lives The way in which they cope with biographical transitions in flexible markets Issues of health and resilience. The articles provide valuable suggestions about what is being done and can be done with regard to individuals or particular groups of youth, especially concerning the application of research findings to interventions. This is the 135th volume of New Directions for Youth Development, the Jossey-Bass quarterly report series dedicated to bringing together everyone concerned with helping young people, including scholars, practitioners, and people from different disciplines and professions.
Tom Gentile The Volatility Course Tom Gentile The Volatility Course Новинка

Tom Gentile The Volatility Course

It takes a special set of trading skills to thrive in today's intensely volatile markets, where point swings of plus or minus 200 points can occur on a weekly, sometimes daily, basis. The Volatility Course arms stock and options traders with those skills. George Fontanills and Tom Gentile provide readers with a deeper understanding of market volatility and the forces that drive it. They develop a comprehensive road map detailing how to identify its ups and downs. And they describe proven strategies and tools for quantifying volatility and confidently developing plans tailored to virtually any given market condition. The companion workbook provides step-by-step exercises to help you master the strategies outlined in The Volatility Course before putting them into action in the markets.
William Pesek Japanization. What the World Can Learn from Japan's Lost Decades William Pesek Japanization. What the World Can Learn from Japan's Lost Decades Новинка

William Pesek Japanization. What the World Can Learn from Japan's Lost Decades

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An in-depth look at Japan's economic malaise and the steps it must take to compete globally In Japanization, Bloomberg columnist William Pesek—based in Tokyo—presents a detailed look at Japan's continuing twenty-year economic slow-down, the political and economic reasons behind it, and the policies it could and should undertake to return to growth and influence. Despite new Prime Minister Shinzo Abe's promise of economic revitalization, investor optimism about the future, and plenty of potential, Japanization reveals why things are unlikely to change any time soon. Pesek argues that «Abenomics,» as the new policies are popularly referred to, is nothing more than a dressed-up version of the same old fiscal and monetary policies that have left Japan with crippling debt, interest rates at zero, and constant deflation. He explores the ten forces that are stunting Japan's growth and offers prescriptions for fixing each one. Offers a skeptical counterpoint to the popular rosy narrative on the economic outlook for Japan Gives investors practical and detailed insight on the real condition of Japan's economy Reveals ten factors stunting Japan's growth and why they are unlikely to be solved any time soon Explains why most of what readers believe they know about Japan's economy is wrong Includes case studies of some of the biggest Japanese companies, including Olympus, Japan Airlines, Sony, and Toyota, among others For many investors, businesspeople, and economists, Japan's long economic struggle is difficult to comprehend, particularly given the economic advantages it appears to have over its neighbors. Japanization offers a ground-level look at why its problems continue and what it can do to change course.
Joseph Katie Do Political Issues Compared With Technological Issues Have A Greater Affect On The Economy Of A Developing Country. Joseph Katie Do Political Issues Compared With Technological Issues Have A Greater Affect On The Economy Of A Developing Country. Новинка

Joseph Katie Do Political Issues Compared With Technological Issues Have A Greater Affect On The Economy Of A Developing Country.

Master's Thesis from the year 2012 in the subject Business economics - Economic Policy, grade: A, University of Portsmouth, language: English, abstract: Political, technological, social and cultural factors of different countries are affecting the economic conditions of that region both in positive and negative ways. But it majorly depends on the changes taking place in all of the above mentioned factors. The current study look into the impacts of political issues compared with technological issues on economies of developing countries. The purpose to narrowly focus the developing countries here is to go deep into the details of the reasons based on political and technological factors which are not letting the developing countries to grow and progress in the modern world. The literature has already identified many factors that are hindering the economic growth of countries but very little research has been done on this topic specific to the context of developing countries so this research study would be more focused toward this area. Developing countries as the name indicates are the countries which are struggling to get developed and thus they have to pay more attention toward problems occurring due to political, technological and several different issues. Another important fact to mention here is that although previous studies have identified individual impacts of different factors like political, technological, social and cultural factors etc on the economy of individua...
Eric Singer T. Trade the Congressional Effect. How To Profit from Congress's Impact on the Stock Market Eric Singer T. Trade the Congressional Effect. How To Profit from Congress's Impact on the Stock Market Новинка

Eric Singer T. Trade the Congressional Effect. How To Profit from Congress's Impact on the Stock Market

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An innovative investment approach that takes the actions of the U.S. Congress into consideration Historical research indicates that, more often than not, when Congress is in session there is a negative effect on equities markets (the «Congressional Effect») due possibly to investor uncertainty surrounding government action or inaction as well as the unintended consequences of Congressional legislative initiatives on the stock market. Author Eric Singer, a financial professional with over twenty-five years of experience, is an expert on this phenomenon, and with this new book he shares his extensive insights with you. Trade the Congressional Effect skillfully details how you can profit from Congress's impact on the stock market. Along the way, it puts this approach in perspective and gives you all the tools you'll need to profitably incorporate it into your investing endeavors. Singer walks you through the process of trading the Congressional Effect and provides practical guidance regarding the possible pitfalls and opportunities you'll face each step of the way. Addresses why it is better to invest while Congress isn't in session Reveals exactly what the Congressional Effect encompasses and why it occurs Written by Eric Singer, one of the first people to publicly document the general effect of Congress on daily stock prices Supported by over forty-five years of real world data, the Congressional Effect has proven profitable to those who know how to use it. This timely guide will show you exactly what it takes to make this phenomenon work for you.
Luca Pietromarchi The Soviet World Luca Pietromarchi The Soviet World Новинка

Luca Pietromarchi The Soviet World

Book divided into two parts. The fist explores the Elements of Strength-describes the almost unlimited natural resources, the endurance of its peoples and the personality of Mr. Khrushchev. The second describe the Elements of Weakness-describes the numbing effect of the out-of-date Marxist ideology on the economic life of the country, the agricultural crisis, paralyzing effect of political and economic control by Communist Party and moreИздательство - George Allen & Unwin Ltd
Eugen Stumpf Evaluation of the Momentum Strategy on the German Stock Exchange Eugen Stumpf Evaluation of the Momentum Strategy on the German Stock Exchange Новинка

Eugen Stumpf Evaluation of the Momentum Strategy on the German Stock Exchange

Master's Thesis from the year 2013 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1.3, University of Applied Sciences Essen, language: English, abstract: This work covers the momentum effect on financial markets and a trading strategy based on this effect. The research focuses on the German Stock Exchange data from the last decade. The data are divided into two sections in order to build two different types of virtual portfolios. One section contains the data of the DAX index, and the second section is filled with securities from the MDAX. Two hypotheses are to be verified. First, is momentum still available in a time of mass internet availability, like during the past decade? And second, is momentum stronger in MDAX due to smaller firm sizes and corresponding lower market efficiency?
Frederik Marmann Econimic Factors of Democratization Frederik Marmann Econimic Factors of Democratization Новинка

Frederik Marmann Econimic Factors of Democratization

Master's Thesis from the year 2009 in the subject Politics - International Politics - Region: South Asia, grade: 8, , language: English, abstract: This study concerns itself with three questions about democratic transition through economic means, including a case study on Vietnam. Is economic growth correlated with democracy? There is a definite tendency towards a correlation between economic growth and democratization. Which are the economic determinants of democratization? The level of wealth, industrialization, economic openness and education as well as the strength of the middle class and the level of inequality. Which is the level of economic development in Vietnam on its way to democracy? Vietnam is not yet as well-to-do or developed as to achieve democracy through economic development.
Rifat Afrin Sensitivity Analysis of Stock Market with Respect to Monetary Policy Rifat Afrin Sensitivity Analysis of Stock Market with Respect to Monetary Policy Новинка

Rifat Afrin Sensitivity Analysis of Stock Market with Respect to Monetary Policy

Monetary policy is that part of the macroeconomics, which attempts to achieve a set of objectives that are expressed in terms of several macroeconomic variables such as inflation, real output, money supply, exchange rate or employment. As a result, any change in the monetary policy will have an effect on these variables. For instance, monetary policy actions such as changes in the central bank discount rate may have an indirect effect on these variables. Therefore, it has been said that as broader financial markets are quick to incorporate new information, a more direct and contiguous effect of changes in the monetary policy instruments may be identified using financial data. Hence, in order to identify the monetary policy mechanism transmission into the stock market, understanding the sensitivity of stock market with respect to monetary policy is very important. This book examines whether current economic activities or more specifically the monetary policy tools of Bangladesh and India can explain stock market returns in short run and long-run horizon by using a number of multivariate tests.
Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange Новинка

Moses Wisdom Chisadza The role of cross-listings in establishing a Southern African Development Community regional stock exchange

Master's Thesis from the year 2013 in the subject Economics - Case Scenarios, , course: LLM in International Trade, Investment and Business Law in Africa, language: English, abstract: It has been established that African stock markets are confronted with a multitude of problems which include, inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (SADC) stock markets with the exception of South Africa are small, both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance. It is contended that all these problems could be eased through regional financial integration. The integration of African stock markets and the introduction of regional stock exchanges will promote cross-border listings and thus stimulate increased liquidity across markets. Thus, it is suggested that the integration of SADC's stock markets and the creation of a regional stock exc...
Nadia Dirks Employee Stock Options in Germany Nadia Dirks Employee Stock Options in Germany Новинка

Nadia Dirks Employee Stock Options in Germany

Inhaltsangabe:Abstract: Companies located all around the world increasingly utilize stock options as a means of compensation for employees. Despite their widespread use it is still unknown why employee stock option plans are adopted, how their effectiveness is defined, and what influences their effectiveness. This master’s thesis reports on an exploratory study undertaken on a sample of employees of the German IT company Network Appliance GmbH intended to answer exactly these questions. The aim of this study was to explore in an in-depth, descriptive fashion, the perspectives of employees receiving stock options as part of their compensation as they are as participants in the process - best situated to provide insights into the practical implications on the use and effectiveness of employee stock options. The qualitative methodology of the study allowed for the opinions and experiences of the employees to be heard and a rich picture of their perceptions on employee stock options was attained. The qualitative content analysis revealed a number of goals, which are associated with employees’ perceptions on why employee stock options are a part of their compensation, and which factors influence these goals’ effectiveness. An exploratory model of the use and effectiveness of employee stock options has been deducted from these findings, which enables managers and researchers to obtain a better understanding of this means of compensation. Even though research on compensation structu...
Zubair Ahsan The Momentum Effect . Stock Markets Zubair Ahsan The Momentum Effect . Stock Markets Новинка

Zubair Ahsan The Momentum Effect . Stock Markets

Traditional finance theory states that predictability of future stock prices and abnormal profit based on the trading strategies are impossible. But, a number of researchers during 1980's document that stock prices are predictable based on their past returns. In 1993, Jegadeesh and Titman discover medium term momentum in stock prices where past winners continue to outperform past losers by around 1% per month over the period of 3 to 12 months. After that numerous studies document that the momentum effect is a worldwide phenomenon. From different possible explanations of the momentum effect, it seems that neither risk related explanation nor data snooping and flawed methodology is able to provide widely excepted explanation of the phenomenon. The behavioural finance theory with the help of some models, however, appears to provide the best explanations for the momentum effect. These behavioural models are too many and none of these models is superior among others because each model individually contributes to explaining the momentum effect in different markets or different stock types.
Robert Perryman Can we reconcile neoliberalism and marine conservation. Conflict between economic and environmental interests Robert Perryman Can we reconcile neoliberalism and marine conservation. Conflict between economic and environmental interests Новинка

Robert Perryman Can we reconcile neoliberalism and marine conservation. Conflict between economic and environmental interests

Essay from the year 2013 in the subject Politics - International Politics - Environmental Policy, grade: 100.00, , course: EMBC - Neoliberalism and Conservation, language: English, abstract: Neoliberalist economic policy is one of the main driving forces in world governance in the 21st Century. Unfortunately, its attributes (individual property rights, unrestrained competition, deregulation, privatisation, short-term profit, risk-propensity, lack of safeguards, globalisation) seem to be completely at odds with environmental sustainability. Neoliberal policy may be the major reason for the failure of governments to form proper environmental protection guarantees for the security of future generations. This is particularly apparent in the context of climate change, where corporate and environmental interests consistently clash, and fisheries, where the commercialization of species may threaten future food security. In this essay, I ask if it is possible to reconcile neoliberalism with marine conservation, with focus on fisheries management. I begin by describing failures to protect natural environments, and the particular characteristics of the marine realm and of neoliberalism that are of relevance in the conflict between economic and environmental interests. I go on to explain the interplay between these factors, and the effect of resulting policies on environmental sustainability. I consider the role of the valuation of natural capital as a major area of debate in terms of t...
Lee H. Dymond A Recent History of Recognized Economic Thought. Contributions of the Nobel Laureates to Economic Science Lee H. Dymond A Recent History of Recognized Economic Thought. Contributions of the Nobel Laureates to Economic Science Новинка

Lee H. Dymond A Recent History of Recognized Economic Thought. Contributions of the Nobel Laureates to Economic Science

Since 1969, 75 people have been awarded the Nobel Prize in Economics. Recent Recognized"A History of Economic Thought - Contributions of the Nobel Laureates to Economic Science" describes their major accomplishments in a manner so all readers, regardless of their knowledge of economics, can appreciate the efforts of these scholars and their impact on the development and progress of economic science. Begin with a brief tour of economic thought and the factors that have influenced economic doctrine from the 16th through the 20th century. Then, for each Nobel Laureate, learn about their background and professional affiliations. Complete your understanding of each Laureate's accomplishments with a concise, relatively non-technical summary of their Nobel Prize Lecture.
Ekaterina G. Navalnaya An evolutionary approach to business model innovation Ekaterina G. Navalnaya An evolutionary approach to business model innovation Новинка

Ekaterina G. Navalnaya An evolutionary approach to business model innovation

Scientific Essay from the year 2014 in the subject Economics - Innovation economics, grade: 4-th year of PhD, Saint-Petersburg State University of Economics, language: English, abstract: In the article it is asserted that business model innovation potential has not yet been fully released first because of a lack of business model definition and a consistent methodological framework, second because, on a more general plan, the whole system of assumptions on which innovation activity of this kind has been based possibly needs re-evaluation. It is argued that a change of theoretical foundation is needed because of systemic inconsistencies which impede present approaches application. It is assumed that difficulties arise due to peculiarities of mainstream economics framework upon which these approaches have implicitly been built. While authors of neoclassical approaches admit outside factors influence on the business model, these factors remain conceptually isolated from the business model. To overcome this problem there has been suggested a framework for business model innovation based on the evolutionary economic theory. The evolutionary approach to business model innovation is characterised by focus on processes of long-term change and economic agents cause-effect relationship. It is being realised by reference to the evolutionary process that has moulded stable patterns of behaviour of companies on a chosen market. By this reference a trajectory of development of value percep...
Julia Martins Trade and Economic Growth Julia Martins Trade and Economic Growth Новинка

Julia Martins Trade and Economic Growth

Bachelor Thesis from the year 2010 in the subject Economics - Foreign Trade Theory, Trade Policy, grade: 1,0, Vienna University of Economics and Business (Institut für Außenwirtschaft und Entwicklung), language: English, abstract: The following paper relates two of the most important economic phenomena, namely economic growth and international trade. Before analysing the relationship between two economic phenomena in detail, an overview of some of the most prominent empirical empirical studies concerning the relationship between openness to international trade and economic growth in general is provided. As most of them seem to have reached the conclusion that trade influences growth in a positive way, the question for the reasons of this presumably positive relationship arises. Factors which cause or influence economic growth in general as well as various channels through which trade might have an influence on growth are presented in the third and forth section. The importance of various sources of economic and the Solow-Model and the AK-Model are introduced in order to distinguish between long-run and short-run effects of capital accumulation, learning by doing and R&D on economic growth. The remaining analysis concentrates on one channel in particular, namely on howtrade determines a country's import and export structure. The importance of therange of products a country produces is enormous and affects economic growth and welfare. The fifth section introduces the st...
Kelkay Belayneh Debasu Modeling of Cereals and Pulse Seed Prices. Using GARCH Family Models Kelkay Belayneh Debasu Modeling of Cereals and Pulse Seed Prices. Using GARCH Family Models Новинка

Kelkay Belayneh Debasu Modeling of Cereals and Pulse Seed Prices. Using GARCH Family Models

The price volatility of agricultural crop products has increased in the last decade. The aim of this work is to identify and analyze the determinant factors of average monthly price volatility of cereals (wheat and barley) and pulses (bean and pea) in Amhara National Regional State over the period of December 2001 to June 2012 GC using GARCH family models. Among such models entertained in this study, ARMA(1,0)-EGARCH(3,3) with GED for wheat, ARMA(4,4)-EGARCH(2,3) with GED for bean and ARMA(1,0)-EGARCH(1,2) with student-t for pea were chosen to be the best fit models. The monthly price return series of barley exhibited no ARCH effects, and thus, was not modeled using (G)ARCH family models.
C. Maloney J Back to the Land. Arthurdale, FDR's New Deal, and the Costs of Economic Planning C. Maloney J Back to the Land. Arthurdale, FDR's New Deal, and the Costs of Economic Planning Новинка

C. Maloney J Back to the Land. Arthurdale, FDR's New Deal, and the Costs of Economic Planning

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How New Deal economic policies played out in the small town of Arthurdale, West Virginia Today, the U.S. government is again moving to embrace New Deal-like economic policies. While much has been written about the New Deal from a macro perspective, little has been written about how New Deal programs played out on the ground. In Back to the Land, author CJ Maloney tells the true story of Arthurdale, West Virginia, a town created as a «pet project» of the Roosevelts. Designed to be (in the words of Eleanor Roosevelt) «a human experiment station», she was to create a «New American» citizen who would embrace a collectivist form of life. This book tells the story of what happened to the people resettled in Arthurdale and how the policies implemented there shaped America as we know it. Arthurdale was the foundation upon which modern America was built. Details economic history at the micro level, revealing the true effects of New Deal economic policies on everyday life Addresses the pros and cons of federal government economic policies Describes how good intentions and grand ideas can result in disastrous consequences, not only in purely materialistic terms but, most important, in respect for the rule of law Back to the Land is a valuable addition to economic and historical literature.
Jeffrey Kopstein The Politics of Economic Decline in East Germany, 1945-1989 Jeffrey Kopstein The Politics of Economic Decline in East Germany, 1945-1989 Новинка

Jeffrey Kopstein The Politics of Economic Decline in East Germany, 1945-1989

Jeffrey Kopstein offers the first comprehensive study of East German economic policy over the course of the state's forty-year history. Analyzing both the making of economic policy at the national level and the implementation of specific policies on the shop floor, he provides new and essential background to the revolution of 1989. In particular, he shows how decisions made at critical junctures in East Germany's history led to a pattern of economic decline and worker dissatisfaction that contributed to eventual political collapse.
Andrew Katusabe Factors Affecting the Performance of Microfinance Institutions in Uganda Andrew Katusabe Factors Affecting the Performance of Microfinance Institutions in Uganda Новинка

Andrew Katusabe Factors Affecting the Performance of Microfinance Institutions in Uganda

Doctoral Thesis / Dissertation from the year 2013 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: .69, Uganda Management Institute (Uganda Management Institute), course: Masters in Business Administration Degree, language: English, abstract: The purpose of this study was to examine factors affecting the performance of microfinance institutions in Uganda. Hofokam Limited (Ltd) was used as a case study. The objectives of the study were: to assess the effect of governance mechanisms on the performance of Hofokam Ltd, to establish the effect of management information systems on the performance of Hofokam ltd and to find out the extent to which finding affects the performance of it.The study sample was 48 and the findings showed that the selection criteria of the board members was not based on related experience and management remuneration was not competitive enough to attract and retain talent. The Management Information System didn't support real time reporting for decision making and branches were not networked with head office with the MIS, the microfinance institution had struggled to access reasonable capital with affordable terms since the donor funding stopped. The study drew conclusions that governance mechanisms greatly affected the performance of microfinance as they determine the direction of the MFI, MIS in its state had a relatively low impact on the performance of Hofokam Limited and that funding was not a critical suc...
Terence Kappeln The Impact of ECB Monetary Policy on Stock and Bond Market Liquidity. The Case of Germany Terence Kappeln The Impact of ECB Monetary Policy on Stock and Bond Market Liquidity. The Case of Germany Новинка

Terence Kappeln The Impact of ECB Monetary Policy on Stock and Bond Market Liquidity. The Case of Germany

Bachelor Thesis from the year 2015 in the subject Economics - Finance, grade: 1,0, Vienna University of Economics and Business (Finance and Accounting), language: English, abstract: During the financial crisis and the following Eurozone crisis, liquidity in financial markets basically froze and became a problem for the real economy. Therefore, market liquidity became one of the major concerns of the ECB, which applied non-standard measures, e.g. irregular asset purchasing programmes. This paper sheds light on the impact of monetary policy on liquidity levels of the DAX 30 equity index and German 10-year government bonds. For the following analysis, the monetary policy impacts are estimated using the base money growth rate and EONIA rate, whereas the relative bid-ask spread is employed for measuring liquidity levels. The research method includes literature-based research about common market liquidity theories, a short timeline of important ECB monetary policy decisions, descriptive statistics on liquidity levels and monetary policy variables and a VAR analysis, including variables spreads, returns, volatilities, industrial production and inflation. The results indicate that a decrease (increase) in stock market liquidity or an increase (decrease) in bondmarket volatility lead to a decrease (increase) of EONIA. Furthermore, decreases (increases) in stock return or industrial production result in a decrease (increase) of EONIA. However, base money growth is positively correlated...
Elma Satrovic Merits of Life Insurance Elma Satrovic Merits of Life Insurance Новинка

Elma Satrovic Merits of Life Insurance

Document from the year 2018 in the subject Economics - Finance, grade: 14, University of Sarajevo, language: English, abstract: In this book linear panel data estimators are employed to investigate the relationship between life insurance and economic growth. This study contributes to previous studies by using Maximum likelihood estimation of dynamic panel that was not used in previous studies concerning the aforementioned relationship; by controlling for number of factors thought to influence economic growth; by referring to a much larger number of countries and by exploring the relationship between life insurance and economic growth while controlling for the degree of financial sector development, as well as for the regional and income disparities. Sixteen models that explore the impact of control variables integrated singly in the equations and an integrated model that controls for the impact of all key variables are estimated. Empirical results reveal a significant positive relationship between life insurance and economic growth in models -. Education is reported to have a positive impact on economic growth. Government spending is found to have a negative impact on economic growth, while model reports that inflation has a negative impact on economic growth. Trade openness is not reported to have a significant impact on economic growth in model. Model reveals a significant positive impact of banking sector on economic growth; significant negative impact of non-life insuranc...
Yemisrach Tadesse, Bizuayehu Tesfaye (PhD) Response of Taro to Applied Nitrogen and Potassium Fertilizer Levels Yemisrach Tadesse, Bizuayehu Tesfaye (PhD) Response of Taro to Applied Nitrogen and Potassium Fertilizer Levels Новинка

Yemisrach Tadesse, Bizuayehu Tesfaye (PhD) Response of Taro to Applied Nitrogen and Potassium Fertilizer Levels

Taro (Colocasia esculenta L.) is one of the major staple root crops in different countries of the world.However, the yield potential is seldom realized, and among the yield limiting factors, soil fertility is one of the major factor affecting the yield of the crop. Thus, this book gives research result on 'Response Taro to Applied N and K Fertilizer Levels. Two types of fertilizers at different levels, i.e. K (0, 75, 150 and 225 kg ha-1) and N (0, 50, 100, 150 and 200 kg ha-1), were combined in factorial for the experimental study. The response of taro to N and K levels was assessed by examining growth and yield parameters. The result revealed that K had no significant effect on the growth and yield of taro, except for the corm dry weight. But N had significantly affected both the growth and yield of taro. The maximum yield (60.96 t ha-1) was obtained by application of 150 kg N ha-1. Economic analysis showed that the highest net benefit was obtained in treatment combination of 75 kg K ha-1 with 150 kg N ha-1. However, the marginal rate of return analysis was optimum when 100 kg N ha-1 was applied. Thus, 100 kg N ha-1 was found optimum for taro production based on this experiment.
Uqbah Iqbal, Nordin Hussin, Ahmad Ali Seman The Historical Development of the Malay Society Economic Nature During Pre-Colonial Era Uqbah Iqbal, Nordin Hussin, Ahmad Ali Seman The Historical Development of the Malay Society Economic Nature During Pre-Colonial Era Новинка

Uqbah Iqbal, Nordin Hussin, Ahmad Ali Seman The Historical Development of the Malay Society Economic Nature During Pre-Colonial Era

Research Paper (undergraduate) from the year 2014 in the subject Economics - History, National University of Malaysia, course: History, language: English, abstract: This study analyzes the historical development of the economic nature of the Malay community in the East Coast and Northern Malay Peninsula during pre-colonial era. The method used is based on the screening methods of the resources that are available in the library and the National Archives of Malaysia. The study objective are to dismantling the historical development of the Malay peninsula economic from the perspective of the Malay world, the economic nature of the Malay community during pre-colonial era, and the impact of international trade on the Malay Peninsula economic at this time. The Malay Peninsula became the focus of the study because of its economy is the cord to the formation of the Malaysian economy. The historical development of the Malay Peninsula economic will focus on the East Coast and the North. While studies published by the Western scholar more emphasis on the states on the West Coast of the Malay Peninsula, the majority Malay community at that time concentrated in the East Coast and Northern Malay Peninsula. In contrast to the study of the Western scholar, the study will look at the historical development of the Malay Peninsula economic and Malay society economic nature from the perspective of the Malay world itself. It allows in-depth investigations to the extent to which socio-economic str...
Sennait Negash Street Children and Structural Factors Exposing them to HIV/AIDS in Ethiopia Sennait Negash Street Children and Structural Factors Exposing them to HIV/AIDS in Ethiopia Новинка

Sennait Negash Street Children and Structural Factors Exposing them to HIV/AIDS in Ethiopia

Research Paper (undergraduate) from the year 2010 in the subject Social Studies (General), University of Bremen, language: English, abstract: HIV/AIDS has become the threat of this century, especially for the low income developing countries like Ethiopia. The study presents a multi-level framework for analysis of the links between homelessness and HIV. It assesses the relation of homelessness with structural macro factors like lower socio-economic status, limited power in the society and individual level factors stressors unique to the homelessness context including depleted psychosocial resources and low use of health services.
Alisha Dhiri Influences on the Price of Bitcoin Alisha Dhiri Influences on the Price of Bitcoin Новинка

Alisha Dhiri Influences on the Price of Bitcoin

Master's Thesis from the year 2017 in the subject Economics - Finance, grade: 4.5, Lucerne University of Applied Sciences and Arts (Institute of Finance), course: Banking and Finance, language: English, abstract: Digital currencies are a critical part of the digitization process. Along with gaining momentum with investors, digital currencies are being prominently covered by the media. Bitcoin, in particular, has reached multiple peaks within the previous few years while showing a continuous upward trend in value. The research conducted in this paper aims to uncover the major influencers of the value of bitcoin. An approach using micro economic and macroeconomic models is used to categorize bitcoin as commodity or currency. Furthermore, five major digital currencies are also analyzed for correlation with the value of bitcoin and analysis of volatility in the exchange rates. Based on the evaluation criteria, it is found that bitcoin can be classified as commodity more than currency due to high influence of supply and demand rather than macroeconomic factors. Also, it can be concluded that the price of bitcoin is highly correlated with the digital currency Monero while the other currencies analyzed show a small to medium correlation based on the Pearson correlation coefficient. The paper also analyzes major changes in the historical timeline of bitcoin by the way of qualitative analysis of major events that may have caused volatility. In conclusion, a future outlook is provi...

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