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This paper examines the relationship between accounting conservatism, debt covenants, and information asymmetry around the global financial crisis. This relationship plays a pivotal role to understand the interactive behavior of accounting and economic data which influencing the agency problem and information asymmetry. Data of non-financial companies listed at the Pakistan Stock Exchange is used,...
Stock market volatility was changed over time. The factor such as financial crisis can easily influence the movement of the volatility. This unpredictable change means uncertain risks and not well preferred by the most of the stock market players. It is because higher risk can lead to a higher returns or losses. For these reason, this study has modelled volatility to investigate the behavior of stock...
The exact prediction of financial crises is an essential research task for decision makers. In recent years, data mining techniques have been used to tackle the related problems and perform a satisfactory job in various domains. However, in the information age, utilizing straightforward data mining techniques to predict financial crises has many shortcomings and limitations. Thus, this investigation...
In the context of financial storm, financial crisis early warning has become an important object of research in the field of corporate financial management. This paper collected the data from China Stock Market Trading Database (CSMAR) and sorted out the financial indices of listed companies. We first used factor analysis to select variables and extract common factors, and then established the financial...
The research of a small open economy system dynamics is based on the goods and finance markets equilibriums by modeling with gradually adjusting nominal exchange rates and prices in crisis period. It discusses the dynamics of two scenarios of successful and failed currency peg at low and high interest rate elasticity of the aggregate investment in the case of partial liability dollarization and short...
In this paper, we estimated financial crisis costs for financial crisised companies in year 2004–2006 and analyze the influences of ownership structures on financial crisis costs. We find that the average financial crisised cost measured by MVE model is 17.27%, showing that financial crisis surely brings losses to listed companies. The nature of a company's controlling shareholder significantly influences...
As a result of the economic periods both before and after the 2008 global financial crisis, the fund displays a need for further independent and objective comprehensive analysis/empirical study. Based on these domestic and foreign research study results, statistical sampling, index analysis, and H-M/T-M model-based regression equations are utilized to make an empirical analysis on the performance...
Under the pressure of global financial crisis, enterprises tend to enhance ability of Supply Chain Management (SCM) and their own advantages can be developed in the competition. A decision making model of multi-product multi-stage supply chain consisted of single manufacturer and single supplier is proposed in this article. The model is proved to be superior and efficient through application example...
In 2008, the world has experienced a financial crisis. There are many mathematical models for measuring the risk, but now, we know at the very least, they didn't disclosure risks. The efficient market hypothesis postulates that markets tend towards equilibrium. But the efficient market hypothesis is unrealistic. There is systemic risk in the market in addition to the risks most market participants...
Suppose the stock returns series has a fat tail distribution characteristics of GED, and select the stock return series of three types of listed companies from 2007 to 2009 as the sample data, empirical analysis credit situation and probability of default of the listed companies in China before and after the financial crisis. Research indicates that the model can be well with the actual economic situation...
In order to avoid the risks associated with blind investment, especially in the current financial crisis, the demand forecast for the market has become very necessary. Data mining is the use of a variety of analysis tools found in the mass data of certain models and the relationship between the process data, it has become in all walks of life to solve the problem by means of an integral, the general...
In order to test the existence of systemic jump in returns in Chinese Stock Market, this paper estimated a multivariate stochastic volatility jump-diffusion model, which assumes that returns are affected by both systemic jumps and idiosyncratic jumps. Taking the 50 index of Shanghai and the stocks from different industries of the stock market as an example, through developing Markov Chain Monte Carlo...
Based on the previous studies, we discussed the financial crisis from brewing, germination and spread to contagion process, and focused on the volatility studies of stock return rate, which is one of the key indicators to reflect the financial crisis contagion through financial channels and expectation channels. Furthermore, we expanded Feng & Wu's contagion model, and applied differentiable dynamical...
Efficient market theory is always the cornerstone to establish and study modern financial theory. But its explanatory power for financial markets is weakening with the appearing of financial crisis. Rapid development of nonlinear science such as wavelet analysis and fractal theory provides new theoretical tools for groping financial market. Taking intraday closing price of soybean futures on Dalian...
Since the financial crisis caused by the subprime lending crisis spreads throughout the world, all countries and international organizations are actively researching the countermeasures with the wish to weaken the destroy of the crisis and prevent the crisis in future, so analyzing the feature of the occurrence of previous monetary crisis, their influence and governmentspsila countermeasures are no...
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