Search Results - subject:"STOCK PRICES"

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Do macroeconomic factors matter for stock prices in emerging countries? Evidence from panel cointegration and panel causality

Mohapatra, Sonali Madhusmita; Rath, Badri Narayan - In: International Journal of Sustainable Economy 7 (2015) 2, pp. 140-154

the short-run and long-run relationship between stock prices and selected macroeconomic variables using data from three … existence of a significant, long-run relationship between stock prices and macroeconomic variables. The results also indicate … that there is a long-run Granger causality running from key macroeconomic factors to stock prices, but in short-run, only …

Persistent link: https://www.econbiz.de/10011266438

Cointegration between stock prices, dividends, output and consumption: Evidence and forecasting ability for 29 markets

Black, Angela J; McMillan, David G; McMillan, Fiona J - In: Review of Accounting and Finance 14 (2015), pp. 81-103

developments imply bivariate cointegration among stock prices, dividends, output and consumption where independent models identify … stock prices, dividends, output and consumption, although not necessarily linked by a single common stochastic trend; each …

Persistent link: https://www.econbiz.de/10011123434

Mark-to-market and its effects on community banking during the financial crisis: An examination of perceived risks

Patron, Hilde; Smith, William J - In: Journal of Financial Regulation and Compliance 23 (2015), pp. 55-72

Purpose –The purpose of this paper is to study the impact of the relaxation of mark-to-market (MTM) standards on community banks’ share prices. Mark-to-market valuation of securities became increasingly common in the late 1990s and 2000s, as regulators sought to create more transparent and...

Persistent link: https://www.econbiz.de/10011124222

The relationship between dividend- and non-dividend-paying stock prices when considering financial distress

Rahgozar, Reza - In: American Journal of Finance and Accounting 4 (2015) 1, pp. 19-27

Previous studies on whether dividend policies affect stock prices have offered contradictory results. This study … investigates whether dividend-paying stock prices outperform non-dividend-paying stocks and whether there is a strong relationship … between dividends and stock prices. It also examines the financial health of dividend-paying firms vs. non …

Persistent link: https://www.econbiz.de/10011207761

Is the jump-diffusion model a good solution for credit risk modelling? The case of convertible bonds

Xiao, Tim - In: International Journal of Financial Markets and Derivatives 4 (2015) 1, pp. 1-25

This paper argues that the reduced-form jump diffusion model may not be appropriate for credit risk modelling. To correctly value hybrid defaultable financial instruments, e.g., convertible bonds, we present a new framework that relies on the probability distribution of a default jump rather...

Persistent link: https://www.econbiz.de/10011207829

Are China’s new energy stock prices driven by new energy policies?

Reboredo, Juan C.; Wen, Xiaoqian - In: Renewable and Sustainable Energy Reviews 45 (2015) C, pp. 624-636

This paper studies the impact of China’s new energy policies on expected changes and volatility in new energy stock … prices. Considering different kinds of policies (energy legislation, binding targets for new energies, economic incentives …

Persistent link: https://www.econbiz.de/10011209007

Bull and bear markets in commodity prices and commodity stocks: Is there a relation?

Ntantamis, Christos; Zhou, Jun - In: Resources Policy 43 (2015) C, pp. 61-81

The extent to which prices of commodities such as oil and gold affect stock prices of firms engaged in their production … market phases. Specifically, it identifies bull and bear markets in commodity prices and in stock prices of firms whose …

Persistent link: https://www.econbiz.de/10011209919

Multinationality and opaqueness

Aabo, Tom; Pantzalis, Christos; Park, Jung Chul - In: Journal of Corporate Finance 30 (2015) C, pp. 65-84

We investigate whether and how multinationality affects the opaqueness of the firm. We use multiple alternative measurements of multinationality and opaqueness. Spanning nearly three decades for a large sample of US non-financial firms, we find a statistically and economically significant,...

Persistent link: https://www.econbiz.de/10011190848

Origins of Stock Market Fluctuations

Greenwald, Daniel L.; Lettau, Martin; Ludvigson, Sydney - C.E.P.R. Discussion Papers - 2015

Three mutually uncorrelated economic disturbances that we measure empirically explain 85% of the quarterly variation in real stock market wealth since 1952. A model is employed to interpret these disturbances in terms of three latent primitive shocks. In the short run, shocks that affect the...

Persistent link: https://www.econbiz.de/10011145420

On the relation between stock prices and exchange rates: a review article

Bahmani-Oskooee, Mohsen; Saha, Sujata - In: Journal of Economic Studies 42 (2015) 4, pp. 707-732

Purpose – While changes in stock prices are said to affect exchange rates, exchange rate changes are also said to … affect stock prices. The purpose of this paper is threefold. First, the authors review all empirical literature by dividing … vs asymmetric effects of exchange rate changes on stock prices. Design/methodology/approach – The paper reviews existing …

Persistent link: https://www.econbiz.de/10014864095