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We adopt the classical Fama and French (1992) [E.F. Fama, K.R. French, The Cross-Section of Expected Stock Returns, The Journal of Finance, 47 (1992) 427 -- 465.] approach to investigate the effect of Beta, size, leverage, book value to market value (B/P), and earnings to price (E/P) ratio on the average monthly returns in the China Stock Market (CSM) from July 1998 to June 2011. The phenomenon of...
Management of investment basket and selecting assets is one of the problems of decision making in financial area. In the competitive business environment, in order to confront complex competitions in the market, financial institutes try to consider the best policy of investment basket that in turn leads to an increase in the output for the investors. The goal of this study is to develop a portfolio...
This paper investigates the predictive power of technical analysis, sentiment analysis and stock market analysis coupled with a robust learning engine in predicting stock trends in the short term for specific companies. Using large and varied datasets stretching over a duration of ten years, we set out to train, test and validate our system in order to either contradict or confirm efficient market...
Stock Market Forecasting implies the use of a series of techniques that helps in determining the stock price evolution. The paper describes a multi-agent system that uses numerical, financial and economical data in order to evaluate the company's position on the market, profitability, performance, future expectations in the company's evolution. Determining the effect of political, governmental and...
It is very important for the investors to correctly predict the listing status of listed companies (LSLC) in China. This paper is the first to format the problem of predicting LSLC as a multiclass classification problem, while almost all preliminary research considered it as a binary classification problem. Adaboost method is introduced to solve the problem and the experiment result shows that it...
Based on the data of annual financial statements in 2012 from small and medium-sized enterprises board (SMEs) on the Shenzhen Stock Exchange, this paper conducts an empirical study through the price model after the interpretation of NO.3 of CAS had been issued. The study aims at investigating the value relevance between comprehensive income and other comprehensive income, which are the new accounting...
This paper concludes that limited attention of investors can affect the performance of stock market. In this paper, Baidu Index is used as a proxy for investor attention, and it can accurately measure the limited attention of investors, revealing their impact on stock returns. We find that the search index of the financial industry is significantly higher than other industries, and it is likely that...
This paper proposes an investment in the stock exchange of Thailand (SET) using ARIMA model and support vector machine. Today, the investors are interesting to invest the stock market because it provides for higher profits than ones from deposit banking. Although the stock market can provide a high benefit for investors, it comes with a high risk too. Thus, this is a reason why we are proposing ARIMA...
Studying price impact is important in finance and previous work examines the relationship between trade size and price impact on a number of equity markets. In this study, using recent order book data from the London Stock Exchange, we examine the price impact function for six highly-liquid stocks and novelly investigate whether the function displays time-of-day effects. The results show that price...
In this paper, a pattern trend-based data mining approach has been proposed which convert the numeric stock data to symbolic notations, carries out association analysis through comparative study of apriori and proposed modified reverse apriori concepts and further applies the mined rules in predicting the movement of prices. Application of modified reverse apriori has shown drastic reduction in the...
Through the analysis of the cultural ecological environment, the humanities ecological building is accord with the requirement of people for environmental comfort, and it expresses the humanistic spirit, city character and place spirit. This paper thinks that the university campus is a unique humanistic ecological environment, the university construction shall conform to the requirements of the humanistic...
The use of an open-source, virtual stock exchange simulators can be seen as a viable alternative for various learners to train trading practice without risking loses of real funds. At present, there is a shortage of suitable tools that could allow entry level users to engage in a real market trading after gaining a certain degree of confidence from practicing in a both very practical and safe environment...
The goal of this paper is to create a hybrid system that will investigate possible stock market changes immediately after financial news article appear and how this information influences the stock market behavior in order to improve the profitability of a short or medium time period investment. We proposed a multi-agent system that uses text mining, information extraction, pattern recognition, sentiment...
Government intervention in transition period is one of the critical influential factors of merger efficiency, and there is much less research in this field. This paper deeply analyzed the effect of government intervention on merger efficiency from the multidimensional perspectives of the executive level of government intervention, transferring of state-owned control right and changing of final controller...
This paper takes the listed companies in the Chinese A share capital market, which only paid cash dividend and did not pay any other forms of dividends during the year of 2000 to 2010 as the research object, by using the Logit Regression Method, to probe the influence of equity structure in listed companies to their cash dividend payout tendency under the full circulation environment. The study shows...
On the basis of the current situation of the convergence of informatization and industrialization, this paper analyzes the characters and problems when the two factors interact with each other. So we select a series of financial measures resulting from Chinese listed companies of manufacturing industry and IT industry. In order to evaluate the profitability, solvency, operation ability and growth...
Between February and April 2012, all the companies which both listed at home and abroad disclose their internal control reports and internal audit reports to the society for the first time, according to the internal control supporting guidance of the enterprises. The content and influence of the internal control evaluation reports become the attention focus for academic circles, enterprise and government...
Recent years, a series of policies on environmental information disclosure is issued by relevant management departments. The author compares the data of environmental information disclosure from Shenzhen and Shanghai Stock Exchange between 2006 and 2011, and finds that there is no difference between Shanghai and Shenzhen Stock Exchange in environmental information disclosure level before 2008 and...
This paper studies the initial public offering (IPO) effect of the listed companies on Chinese small and medium-sized enterprise (SME) board. We select the 54 companies listed in 2009 as the sample and analyze the financial indicators of the sample companies from 2007 to 2011. The empirical results show that the IPO effect exists on Chinese SME board. Further, this paper analyzes four factors that...
Following the instrumental stakeholder theory, we present hypotheses about the relationship of CSR and CFP based investors' reaction. This research reveals that investors can declare their attitude to CSR by buying or selling stocks of companies which taken CSR actions, and these investors' behaviors can affect CFP. In the part of empirical research, we take the publications of South Weekend CSR ranking...
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