Stock Market Efficiency
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| Author | : Mr Paul Barnes |
| Publisher | : Gower Publishing, Ltd. |
| Total Pages | : 228 |
| Release | : 2012-09-28 |
| Genre | : Law |
| ISBN | : 1409458709 |
The recent turbulence in the stock market has brought into question the way, and prices at which, shares are traded, and how the market effectively values companies. It has also raised public concern as to the way by which dealers and investors take advantage of changes in market prices. A number of high profile criminal prosecutions of insider dealing and market abuse and the frequent claims of other instances, combined with the changes in regulations resulting in a more aggressive and proactive stance by the various regulators, have brought the issue under the spotlight. This book discusses what makes stock market efficiency so important for the economy, looks at the theory and issues that underpin market abuse and why an offence often dismissed as a victimless crime is punished so severely. It explores the impact of perception and other factors that distort the market and outlines the extent of abuse. Regulators, lawyers, company officials, investigators, professional advisers and of course investors, both professional and otherwise will find this a helpful guide to the underlying elements of fraud and market manipulation.
| Author | : John Eatwell |
| Publisher | : Springer |
| Total Pages | : 766 |
| Release | : 1991-05-13 |
| Genre | : Business & Economics |
| ISBN | : 1349213152 |
What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
| Author | : Andrew Ang |
| Publisher | : Now Publishers Inc |
| Total Pages | : 99 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 1601984685 |
The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The implication of the EMH for investors is that, to the extent that speculative trading is costly, speculation must be a loser's game. Hence, under the EMH, a passive strategy is bound eventually to beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets relative to a risk-adjusted benchmark. The EMH has been refined over the past several decades to reflect the realism of the marketplace, including costly information, transactions costs, financing, agency costs, and other real-world frictions. The most recent expressions of the EMH thus allow a role for arbitrageurs in the market who may profit from their comparative advantages. These advantages may include specialized knowledge, lower trading costs, low management fees or agency costs, and a financing structure that allows the arbitrageur to undertake trades with long verification periods. The actions of these arbitrageurs cause liquid securities markets to be generally fairly efficient with respect to information, despite some notable anomalies.
| Author | : Burton G. Malkiel |
| Publisher | : W. W. Norton & Company |
| Total Pages | : 454 |
| Release | : 2007-12-17 |
| Genre | : Business & Economics |
| ISBN | : 0393330338 |
Updated with a new chapter that draws on behavioral finance, the field that studies the psychology of investment decisions, the bestselling guide to investing evaluates the full range of financial opportunities.
| Author | : Nicolaas Groenewold |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 268 |
| Release | : 2004-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781782541172 |
'. . . this book succeeds in its mission of analysing the efficiency, predictability and profitability of the Chinese stock market. It is strongly recommended to scholars. It is additionally recommended to practitioners involved in the market, sharing its prosperity and avoiding the possible risk. This book is also recommended to the students who want to learn the systematic application of econometric modelling to market efficiency analysis.' - Shiguang Ma, Economic Record The emergence of a stock market in China only occurred a decade ago and it remains something of an unknown quantity to many observers and traders outside of the country. This book provides an extensive historical and empirical analysis of the Chinese stock-market, the development of which is an integral part of the process of economic modernization that began in China in the late 1970s.
| Author | : Wing-Keung Wong |
| Publisher | : Mdpi AG |
| Total Pages | : 232 |
| Release | : 2022-02-17 |
| Genre | : Business & Economics |
| ISBN | : 9783036530802 |
The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.
| Author | : Raghavendra Rau |
| Publisher | : Cambridge University Press |
| Total Pages | : 196 |
| Release | : 2017-01-11 |
| Genre | : Business & Economics |
| ISBN | : 1316984117 |
The Short Introduction to Corporate Finance provides an accessibly written guide to contemporary financial institutional practice. Rau deploys both his professional expertise and experience of teaching MBA and graduate-level courses to produce a lively discussion of the key concepts of finance, liberally illustrated with real-world examples. Built around six essential paradigms, he builds an integrated framework covering all the major ideas in finance over the past half-century. Ideal for students and practitioners alike, it will become core reading for anyone aspiring to become an effective manager.
| Author | : Merritt B. Fox |
| Publisher | : Columbia University Press |
| Total Pages | : 612 |
| Release | : 2019-01-08 |
| Genre | : Business & Economics |
| ISBN | : 023154393X |
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
| Author | : John Eatwell |
| Publisher | : Palgrave Macmillan |
| Total Pages | : 278 |
| Release | : 1989-11-01 |
| Genre | : Business & Economics |
| ISBN | : 9780333495353 |
This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on finance.
| Author | : Linda Ginzel |
| Publisher | : Agate Publishing |
| Total Pages | : 154 |
| Release | : 2018-10-16 |
| Genre | : Business & Economics |
| ISBN | : 1572848456 |
Choosing Leadership is a new take on executive development that gives everyone the tools to develop their leadership skills. In this workbook, Dr. Linda Ginzel, a clinical professor at the University of Chicago’s Booth School of Business and a social psychologist, debunks common myths about leaders and encourages you to follow a personalized path to decide when to manage and when to lead. Thoughtful exercises and activities help you mine your own experiences, learn to recognize behavior patterns, and make better choices so that you can create better futures. You’ll learn how to: Define leadership for yourself and move beyond stereotypes Distinguish between leadership and management and when to use each skill Recognize the gist of a situation and effectively communicate it with others Learn from the experience of others as well as your own Identify your “default settings” and become your own coach And much more Dr. Linda Ginzel is a clinical professor of managerial psychology at the University of Chicago’s Booth School of Business and the founder of its customized executive education program. For three decades, she has developed and taught MBA and executive education courses in negotiation, leadership capital, managerial psychology, and more. She has also taught MBA and PhD students at Northwestern and Stanford, as well as designed customized educational programs for a number of Fortune 500 companies. Ginzel has received numerous teaching awards for excellence in MBA education, as well as the President’s Service Award for her work with the nonprofit Kids In Danger. She lives in Chicago with her family.
