• Study Resource
  • Explore Categories
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
what should a financial market dealer licence
what should a financial market dealer licence

... FMD DISCUSSION PAPER ...
All questions carry equal marks
All questions carry equal marks

... consequential serious implication. Mr. Rahul has been negotiating with IDBI on a number of issues regarding sanction and release of long term loan of Rs. 5 Crores. In addition to the alternative of raising finance through IDBI there exist some other choices. The next possible choice is to raise brid ...
Presentation at Economic Summit 2004 by Paul Chow, Chief
Presentation at Economic Summit 2004 by Paul Chow, Chief

... 6. Key initiatives - Investor protection Investor confidence is vital for the success of HKEx markets. In the next three years, HKEx will take action to enhance the current structure, policy and operations to boost investor confidence ...
NBER Reporter Summary of My Commodity Research
NBER Reporter Summary of My Commodity Research

... speculation. Like financial traders who might have hedging needs, hedgers may also engage in speculative trading. In a recent study, Cheng and I specifically analyze whether hedging motives can sufficiently explain trading by hedgers in futures contracts of four agricultural commodities: wheat, corn ...
Essentials of Corporate Finance
Essentials of Corporate Finance

... • In large firms, shareholders are not involved in the day-to-day operations. Managers are employed as agents of the shareholders to make decisions on their behalf. • The treasurer and controller share financial functions of the firm and they report to the top financial manager within the firm who i ...
Downloadable Microsoft Word file
Downloadable Microsoft Word file

... dynamic model to study the effects of regional integration on levels of investment and factor productivity growth. ...
Principle #1: People Face Trade-offs
Principle #1: People Face Trade-offs

... Way to Organize Economic Activity. • Adam Smith made the observation that households and firms interacting in markets act as if guided by an “invisible hand.” • Because households and firms look at prices when deciding what to buy and sell, they unknowingly take into account the social costs of thei ...
Economic Integration in an Endogenous Policy Model
Economic Integration in an Endogenous Policy Model

... dynamic model to study the effects of regional integration on levels of investment and factor productivity growth. ...
Presentation title here in Arial 32pt
Presentation title here in Arial 32pt

... – Diversification is your first defence against market uncertainty – But diversification by itself is not enough, it must also be dynamic – Your asset allocation is what matters most – so make it your main focus – Be obsessive about risk, and the returns will look after themselves – Risk and return ...
offensive selling – selling into strength
offensive selling – selling into strength

... 3. Should connect at least 3 points along the peaks 4. Should be drawn over a relatively long period of time (at least 18 weeks) 5. The longer the channel line and the more high points that are connected, the more reliable it is 6. Often occurs in conjunction with climax action Sharp Pullback and Fa ...
Standard Deviation - What is it and what you need to calculate it
Standard Deviation - What is it and what you need to calculate it

... The Standard Deviation of monthly returns shows the degree to which the returns have fluctuated over a given time period. When evaluating returns, the standard deviation is compared to the standard deviation on the appropriate market index to determine how volatile the portfolio return is compared t ...
Chapter 15: OLIGOPOLY: DECISION MAKING WITH
Chapter 15: OLIGOPOLY: DECISION MAKING WITH

... If incumbent firm Dell threatens potential new entrant Rising Star with the threat, “If you enter this market, we will lower our price and keep it low until you are driven out of the market,” then a. Rising Star would never go ahead and enter if Dell has a cost advantage over Rising Star. b. Rising ...
Financial Markets in Electricity: Introduction to Derivative Instruments
Financial Markets in Electricity: Introduction to Derivative Instruments

... Forwards: An agreement to buy or sell a given quantity of a particular asset, for a specified future date and price, and at a specific location. Unlike futures contracts no margin is paid [see also margin, OTC market, futures]. Forward market: A telephone based market place where buyers and sellers ...
Volatility trading in options market: How does it a ect where
Volatility trading in options market: How does it a ect where

... either by informed or liquidity traders. There are two kinds of informed traders: Directionaltraders who have information on the future underlying asset price and volatility-traders who have information on the future underlying asset volatility. To exploit their private information, while avoiding f ...
The Role of Size and Book-to-Market Ratio as Proxies for
The Role of Size and Book-to-Market Ratio as Proxies for

... these ranked portfolios. Consistent with most prior research, we find that larger and low book-to-market firms are indeed more profitable and big firms have lower leverage than small firms. However, we also find that firms with lower BE/ME use more debt than high book-to-market firms, a finding inco ...
transparency in electronic business negotiations
transparency in electronic business negotiations

... First, we need to examine general economic benefits of ICT based enterprise networking or generally network effects in economy. Many studies deal with network effects and diffusion theories in innovations. Diffusion in our context is the adoption of ICT network services which implement us into the r ...
CEO-Overconfidence
CEO-Overconfidence

... • Likely to overvalue a takeover target because they overestimate returns they can generate from the combined firm. • Likely to overvalue their contribution to their own company. Overconfidence implies that managers view their company as undervalued by outside investors who are less optimistic about ...
under Fixed Price Method
under Fixed Price Method

... Initial Public Offering The capital market can encourage broader ownership of productive assets by small savers to enable them benefit from Bangladesh's economic growth. The capital market can provide avenues for investment opportunities that encourage a thrift culture critical to increase domestic ...
The Microfinance Collateralized Debt Obligation: a Modern Robin
The Microfinance Collateralized Debt Obligation: a Modern Robin

... quantile at a certain small probability ranging from 0.01% to 5%). ...
understanding monetary policy series no 27 the nigerian money
understanding monetary policy series no 27 the nigerian money

... activities exhibited some elements of short-term lending and borrowing. The market was a contemporary part of the London money market. It worked by moving funds from London to Nigeria during the farming season to finance the export of farm produce and when the season was over with no need for money, ...
Comments on “Risk Allocation, Debt Fueled Expansion and Financial Crisis,” Beaudry
Comments on “Risk Allocation, Debt Fueled Expansion and Financial Crisis,” Beaudry

... Comments on “Risk Allocation, Debt Fueled ...
National Institute of Securities Markets
National Institute of Securities Markets

... 3.4.4 Describe the procedure for determining the daily settlement price and final settlement price 3.4.5 Discuss the delivery aspects of interest rate derivatives contracts including conversion factor, invoice amount, cheapest-to-deliver bond 4. Strategies Using Futures 4.1 Strategies using Equity F ...
Dynamic predictor selection and order splitting in a limit order
Dynamic predictor selection and order splitting in a limit order

... to make certain other behavioral assumptions to match empirical properties to the order submissions observed in actual stock markets. The behavioral assumption could be a strategy that chooses limit and market orders interchangeably, depending on the demand–supply imbalance in the order book. This s ...
The Evolution of Diversification
The Evolution of Diversification

... Fuelled by a strong desire for economic expansion, many emerging markets are increasingly opening their doors to foreign investment. These countries have continued to develop trading relationships with the rest of the world and are in the process of unleashing the economic drive of young, skilled an ...
Financial Crisis and the "Big Bang"
Financial Crisis and the "Big Bang"

... people would not try to make a change in the adverse development until the arrival of catastrophe. Japanese Economy Research Group at NRI (Nomura Research Institute) expects that nominal GDP growth of FY1998 (0.0%) will be lower that that of 1997 (0.8%). The growth rate is lower than the previous ye ...
< 1 ... 9 10 11 12 13 14 15 16 17 ... 38 >

Efficient-market hypothesis

In financial economics, the efficient-market hypothesis (EMH) states that it is impossible to ""beat the market"" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such, it should be impossible to outperform the overall market through expert stock selection or market timing, and that the only way an investor can possibly obtain higher returns is by purchasing riskier investments.The following are the main assumptions for a market to be efficient:A large number of investors analyze and value securities for profit.New information comes to the market independent from other news and in a random fashion.Stock prices adjust quickly to new information.Stock prices should reflect all available information.Financial theories are subjective. In other words, there are no proven laws in finance, but rather ideas that try to explain how the market works.There are three major versions of the hypothesis: ""weak"", ""semi-strong"", and ""strong"". The weak form of the EMH claims that prices on traded assets (e.g., stocks, bonds, or property) already reflect all past publicly available information. The semi-strong form of the EMH claims both that prices reflect all publicly available information and that prices instantly change to reflect new public information. The strong form of the EMH additionally claims that prices instantly reflect even hidden or ""insider"" information.Critics have blamed the belief in rational markets for much of the late-2000s financial crisis. In response, proponents of the hypothesis have stated that market efficiency does not mean having no uncertainty about the future, that market efficiency is a simplification of the world which may not always hold true, and that the market is practically efficient for investment purposes for most individuals.
  • studyres.com © 2026
  • DMCA
  • Privacy
  • Terms
  • Report