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How Important Is Informed Trading for the Bid-Ask Spread? Evidence from an Emerging Market
Hanousek, Jan; Podpiera, Richard - EconWPA - 2001
The link between informed trading and the bid-ask spread has been the focus of abundant literature and some authors feared that a large amount of informed trading might lead to shutdown of markets. We explore this issue using data from the Czech Republic. Our estimates confirm that the share of...
Persistent link: https://www.econbiz.de/10005134765
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Why Individual Investors Want Dividends
Dong, Ming; Robinson, Chris; Veld, Chris - EconWPA - 2004
The question of why individual investors want dividends is investigated by submitting a questionnaire to a Dutch … investor panel. The respondents indicate that they want dividends partly because the cost of cashing in dividends is lower than … confirmed for cash dividends but is confirmed for stock dividends. Finally, our results indicate that individual investors do …
Persistent link: https://www.econbiz.de/10005076991
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Introduction to Market Microstructure
EKINCI, Cumhur - EconWPA - 2004
Persistent link: https://www.econbiz.de/10005134945
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Corporate Governance and Dividends Payout in India
Kumar, Jayesh - EconWPA - 2004
This paper investigates the association between the corporate governance and the dividends payout policy for a panel of … structure. We find a positive association of dividends with earnings and dividends trend. Debt equity ratio is found to be … negatively associated, whereas past investment opportunities exert a positive impact on dividends. Ownership by the corporate and …
Persistent link: https://www.econbiz.de/10005413214
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INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA
Mishra, Asim - EconWPA - 2005
The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...
Persistent link: https://www.econbiz.de/10005134795
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An Empirical Analysis of Market Reaction Around the Bonus Issues in India
Mishra, Asim - EconWPA - 2005
Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...
Persistent link: https://www.econbiz.de/10005134827
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Long-Term Dependence Characteristics of European Stock Indices
LOS, CORNELIS A.; LIPKA, JOANNA M. - EconWPA - 2004
In this paper we show the degrees of persistence of the time series if eight European stock market indices are measured, after their lack of ergodicity and stationarity has been established. The proper identification of the nature of the persistence of financial time series forms a crucial step...
Persistent link: https://www.econbiz.de/10005413038
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Methodology and Implementation of Value-at-Risk Measures in Emerging Fixed-Income Markets with Infrequent Trading.
Cortazar, Gonzalo; Bernales, Alejandro; Beuermann, Diether - EconWPA - 2005
This paper deals with the issue of calculating daily Value-at-Risk (VaR) measures within an environment of thin trading. Our approach focuses on fixed income portfolios with low frequency of transactions in which the missing data problem makes VaR measures difficult to calculate. We propose and...
Persistent link: https://www.econbiz.de/10005413068
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CASO SOROS
Rubio, Fernando - EconWPA - 2005
El caso analiza al inversor internacional George Soros y su entorno. Se pretende mostrar una serie de operaciones financieras que reflejen sus estrategias de inversión. Adicionalmente, se pretende que los alumnos asuman la figura del Administrador de un HEDGE FUND, especializado en inversiones...
Persistent link: https://www.econbiz.de/10005413075
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Correlation Dynamics in European Equity Markets
Kearney, Colm; Poti, Valerio - EconWPA - 2005
We examine correlation dynamics using daily data from 1993 to 2002 on the 5 largest eurozone stock market indices. We also study, for comparison, the correlations of a sample of individual stocks. We employ both unconditional and conditional estimation methodologies,including estimation of the...
Persistent link: https://www.econbiz.de/10005413082