The Infona portal uses cookies, i.e. strings of text saved by a browser on the user's device. The portal can access those files and use them to remember the user's data, such as their chosen settings (screen view, interface language, etc.), or their login data. By using the Infona portal the user accepts automatic saving and using this information for portal operation purposes. More information on the subject can be found in the Privacy Policy and Terms of Service. By closing this window the user confirms that they have read the information on cookie usage, and they accept the privacy policy and the way cookies are used by the portal. You can change the cookie settings in your browser.
This paper studies debt holders' belief updating and equity owners' financing decisions under asymmetric information during financial distress. This is done within a continuous-time framework, where the relevant state variable is assumed to follow an arithmetic Brownian motion (ABM). ABM can take negative values and has very realistic feature compared with geometric Brownian motion (GBM). Using Chapter...
This article tests the information flow between Share A and share H adopting the common actor contribution method, which belongs to the price-discovery theory. We discover that in bear market information flow is lower relative to that in bull market. In bear market, information flow between closing price of share A and share H is largely the same as that of closing price of share H and opening price...
The fictitious economy and real economy constitute a new pattern of economic system in the modern society. The theoretical model about interaction development between fictitious economy and real economy is deduced based on the theory of financial development and economic growth, and empirical analysis on the relationship between China's fictitious economy and real economy using 2001 to 2008 monthly...
In the designing of the instruments with asset-backed securitization structure, the cost and contribution of different credit enhancement methods are varied greatly which result the difficulties to find the proper combination of credit enhancement structure. Considering the contribution quantity of credit enhancement structure, the proper credit enhancement combination can be find using the method...
This paper investigates the multi-period portfolio problem under the framework of Tobin. Specifically, the paper analyzes the optimal two-period portfolio strategy compared with the buy-and-hold strategy, the stochastic rebalancing strategy and the simple rebalancing strategy. According to the result of the practical examples, we find that the unadjusted investment portfolio known as the buy-and-hold...
Trading volume is not only common market statistics and liquidity indicator, but also full of information. To reduce the risk, investors are used to predicting stock prices by observing trading volume and stock prices together and by analyzing returns and unusual high or low level of volume to signal return-pattern reversed or continued. This paper examines the dynamic return-volume relation to help...
The empirical analysis on the relationship among money supply, economic growth, and inflation in china from 1998 to 2007 with co-integration and Granger Causality test approaches shows: there is no co-integration relationship among money supply, inflation, and economic growth, but there is co-integration relationship between money supply and inflation while there is no co-integration relationship...
This paper discusses a simple framework that can be used to connect a significant number of the tools and techniques developed in a first course in either discrete-time signals and systems or digital signal processing. While this framework is not revolutionary, it allows for the rapid placement of new material into the course's context. Additionally, a simple model of an unstable financial system...
Aim at robustness and efficiency of traditional Dynamic Graph Watermark (DGW), a DGW-AB algorithm based on threshold scheme is proposed, in which the idea of secret sharing to the software watermarking is introduced. Experimental results have shown that the proposed method can make up the weakness of CT algorithm, and prevent invaders from getting the original watermark.
In this paper, we provide analytical expressions of the Cramer-Rao bounds for the frequencies, damping factors, amplitudes, and phases of complex exponentials in colored noise. These expressions show the explicit dependence of the bounds of each distinct parameter with respect to the amplitudes and phases, leading to readily interpretable formulae, which are then simplified in an asymptotic context...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.