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Patent data has been used for generating patent-based indicators for tracking the technology development of high-tech companies. In this paper, we further show the promises of exploiting patent data for the analysis and prospecting of high-tech companies in the stock market. Specifically, we aim at investigating the relationship between the patent activities of high-tech companies and the dynamics...
This paper focuses on one of the most popular issues in the Polish finance - is the ‘buying stock market winners’ profitable on the Warsaw Stock Exchange? This study tested whether Ichimoku trend following strategy performed better than simple buy & hold benchmark. For automated backtests WIG30 index components in the period 2012-12-28 to 2015-05-06 were used. The empirical results suggest that...
This paper proposes a new framework to identify and rank Twitter accounts of which short messages or tweets may influence a specific financial stock price. In this paper, we start by mainly focusing on the first step of our framework, selecting potential influencers based on their association with a particular stock market. With numerous limitations of Twitter service to access and acquire Twitters...
In this paper the application of Self-Organizing Maps to analyze the stock market data is presented. The impact of this type of the neural network on the performance of investment strategies is discussed. The considered characteristics include the size of the network based on the average number of learning patterns per neuron, conscience mechanism, method of weights update and learning coefficient...
Stock market prediction is influenced by manyinternal and external factors. One of these factors are the newsarticles and financial reports related to each listed company. This paper describes a system that is able to extract relevantinformation from this type of textual documents, correlate themwith the stock price movement and determine whether ornot a new released news can and in which proportion...
Risk handling and evaluation plays an importantrole in optimizing an investment portfolio. This paper's goal isto describe a system that determines, classifies and handles riskassociated to any type of investment based on sentiment analysis, price movement, information related to companies, certain characteristics, the traders confidence level, and by measuring thepotential loss over a certain period...
According to an academic research, when an enterprise runs longer, their strategies are more prone to gain support by other businesses. Leaning on the durability and the longevity, such enterprises can accumulated their credits and stabilize the business. Consequently, the span variable of the total business-running time or the variable of growth rate and the price variable of stock exhibit a negative-proportion...
Capital markets all over the world are subject to information asymmetry where the potential investors have inferior knowledge about the company. As a step to make markets efficient SEBI introduced a new mechanism of grading of IPOs in 2006. Grades assigned by different credit rating agencies acts as signal of quality of the company. The objective of this study is to analyze the impact of grading of...
In this paper, the stocks grouped under different sector indices under National Stock Exchange (NSE) of India are analyzed to identify any interesting relations among the sectors. Concept of Association rules is used for this analysis. Stocks are grouped into sectors based on their operations/industrial classification. Owing to their similarity in every context stock prices within a sector generally...
The cross-listing mechanism enables that companies collect funds and investors invest in capital markets of foreign countries. Among the objectives are the increase in the liquidity, the reduction of the risk and of the capital cost. In this context, this paper analyses the relationship of dually listed stocks of Brazilian companies, simultaneously traded on the São Paulo stock Exchange and New York...
The research of stare is useful for country and people. A space share rising statistical parallel model is built by using statistical theory. The formula of correlation between stock prices is given. The regression equation with space coordination is obtained.
The paper describes the architecture of the information expert system designed and dedicated to stock exchange data processing, analyzing and presentation. The system uses Artificial Neural Networks (ANN) combined with technical analysis and fractal analysis to predict future price of stock exchange assets. It also enables selection of companies, which assets will be increased. The selection of companies...
This paper selects the data of listed companies in Shanghai stock exchange and Shenzhen stock exchange between 2010 and 2013, studying the moderating effect of management team characteristics on the relationship between equity incentive and internal control quality. The result shows that there is a significant positive correlation between equity incentive and internal control quality. Also, education...
Underperformance after secondary equity offering (SEO) in capital market has been a hot area of research in theoretical circle for several years. There are discrepant views trying to explain the reasons behind the link between SEOs and the accompanying underperformance. This paper presents a systematic review of the literatures, covering scholarly articles published from 1995 to 2012, by which the...
This study investigates the moderating effect of analyst coverage on the relationship between internal pay gap and company performance. Based on a sample of 2993 Chinese stated-owned listed enterprises from 2010 to 2014, we find that both executive pay gap and pay gap between executives and employees are positively related to company performance, which support the tournament theory. In addition, our...
This paper focuses on studies of the effects of information trading on stock excess returns. We try to illustrate the information trading effect on the stock excess returns with a sample of 176 stocks on Shenzhen GEM. Using empirical tests, the results show that there is a positive and statistically significant correlation between information trading and stock excess returns.
Long-term investors are interested in identifying the characteristics of companies that are likely to triple in value over the next five years, which equates to return of approximately 25 percent per year over the period. Such companies are known as compounders due to their high compounded rate of return. This paper reports on an analysis of corporate and market data undertaken with the goal of identifying...
The foreign institutional investments (FII's) have had a very significant impact on the domestic stock market and the real economy since their arrival in India in 1993. Therefore, it is necessary to understand the factors that boost FII's inflows into the country. This study makes an attempt to understand the dynamics of trading behavior of FII with Indian equity market. The present study examines...
This paper estimates how the capital structure of a company influences its stock price. To raise corporate valuation, which is better for the company, using equity capital or liabilities? To answer this question, we estimated the optimal amount of liabilities in terms of tax benefit. Then we analyzed how the gap between the optimal amount and the actual amount of liabilities influences stock price.
The Chinese stock market is ever changing and will play an increasingly important role in the global financial system. By analyzing topological properties of this market and temporal changes, this paper investigates network dynamics of this market by emphasizing interdependencies between stocks. This study partially selects 176 constituent stocks of CSI 300 index during the period of January 2009...
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