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Edité par GRIN Verlag Okt 2012, 2012
ISBN 10 : 3656277133ISBN 13 : 9783656277132
Vendeur : BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Allemagne
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Taschenbuch. Etat : Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Master's Thesis from the year 2012 in the subject Economics - Economic Cycle and Growth, grade: 1, VU University Amsterdam , language: English, abstract: This study examines the lead-lag patterns on the European markets between returns on portfolios sorted by size. Additionally, we test for two novel factors to explain lead-lag effects - size distribution and market efficiency. A chief separation between countries is established based on stock market development, and lead-lag structures are analyzed in the context of this partition. Country-by-country regressions are employed to prove the leading role of large company returns over small company returns. A measure of the lead-lag effect is developed in the form of the speed of adjustment of small firm returns to large firm returns. A pooled regression is performed in order to shed light over additional determinant factors of lead-lag patterns and a distinct size of lead-lag effects in emerging and advanced economies. Our results show that size is the underlying determinant of large portfolios leading small ones, while there is only partial support to validate that market inefficiencies can cause lead-lag effects. Also, we find that size heterogeneity widens lead-lag effects in developed markets. 44 pp. Englisch.
Edité par GRIN Verlag, 2012
ISBN 10 : 3656277133ISBN 13 : 9783656277132
Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
Livre
Taschenbuch. Etat : Neu. Druck auf Anfrage Neuware - Printed after ordering - Master's Thesis from the year 2012 in the subject Economics - Economic Cycle and Growth, grade: 1, VU University Amsterdam , language: English, abstract: This study examines the lead-lag patterns on the European markets between returns on portfolios sorted by size. Additionally, we test for two novel factors to explain lead-lag effects - size distribution and market efficiency. A chief separation between countries is established based on stock market development, and lead-lag structures are analyzed in the context of this partition. Country-by-country regressions are employed to prove the leading role of large company returns over small company returns. A measure of the lead-lag effect is developed in the form of the speed of adjustment of small firm returns to large firm returns. A pooled regression is performed in order to shed light over additional determinant factors of lead-lag patterns and a distinct size of lead-lag effects in emerging and advanced economies. Our results show that size is the underlying determinant of large portfolios leading small ones, while there is only partial support to validate that market inefficiencies can cause lead-lag effects. Also, we find that size heterogeneity widens lead-lag effects in developed markets.
Edité par Anchor Academic Publishing Mai 2013, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Allemagne
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Taschenbuch. Etat : Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -One renowned and frequently researched anomaly over the last two decades is the weather effect, more precisely, the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather, and the stock market. Therefore, the aim of this paper is to explain the contradictory results in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development, and explaining how this difference behaves over time. In order to test for this, city-by-city, pooled and binary regressions are employed using data of 10 developed, and 10 emerging countries over the period 1996-2011 by using two different means of seasonal adjustment. 56 pp. Englisch.
Edité par GRIN Publishing Dez 2012, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Allemagne
Livre impression à la demande
Taschenbuch. Etat : Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Master's Thesis from the year 2012 in the subject Economics - Other, grade: 1, VU University Amsterdam , language: English, abstract: One renowned and frequently researched anomaly over the last two decades is the weather effect the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather and the stock market. Therefore, the aim of this paper is to explain the contradictory results in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development and explaining how this difference behaves over time. In order to test for this, city-by-city, pooled and binary regressions are employed using data of 10 developed and 10 emerging countries over the period 1996-2011 by using two different means of seasonal adjustment. The results show that weather has a very small impact on the worldwide stock market returns and that the significance of the weather effect is decreasing over time with a cyclical pattern in terms of its recurrence. We identify the year 2001 as the cut-off point when the significance of weather on stock markets diminishes. No support has been found for a real difference in the weather effect between emerging and developed countries. However, evidence has been found of the relative inefficiency of the emerging markets and for the declining influence of weather in time. 56 pp. Englisch.
Edité par GRIN Publishing, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : Ria Christie Collections, Uxbridge, Royaume-Uni
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Etat : New. PRINT ON DEMAND Book; New; Fast Shipping from the UK. No. book.
Edité par Grin Publishing, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : Lucky's Textbooks, Dallas, TX, Etats-Unis
Livre
Etat : New.
Edité par GRIN Publishing 2012-12, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : Chiron Media, Wallingford, Royaume-Uni
Livre
PF. Etat : New.
Edité par Grin Verlag, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
Livre impression à la demande
PAP. Etat : New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : Ria Christie Collections, Uxbridge, Royaume-Uni
Livre impression à la demande
Etat : New. PRINT ON DEMAND Book; New; Fast Shipping from the UK. No. book.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : Lucky's Textbooks, Dallas, TX, Etats-Unis
Livre
Etat : New.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
Livre impression à la demande
Taschenbuch. Etat : Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - One renowned and frequently researched anomaly over the last two decades is the weather effect, more precisely, the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather, and the stock market. Therefore, the aim of this paper is to explain the contradictory results in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development, and explaining how this difference behaves over time. In order to test for this, city-by-city, pooled and binary regressions are employed using data of 10 developed, and 10 emerging countries over the period 1996-2011 by using two different means of seasonal adjustment.
Edité par GRIN Publishing, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
Livre impression à la demande
Taschenbuch. Etat : Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - Master's Thesis from the year 2012 in the subject Economics - Other, grade: 1, VU University Amsterdam , language: English, abstract: One renowned and frequently researched anomaly over the last two decades is the weather effect the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and robust relationship between the weather and the stock market. Therefore, the aim of this paper is to explain the contradictory results in the literature by testing whether stock prices are affected by the weather in a significantly different manner depending on the level of market development and explaining how this difference behaves over time. In order to test for this, city-by-city, pooled and binary regressions are employed using data of 10 developed and 10 emerging countries over the period 1996-2011 by using two different means of seasonal adjustment. The results show that weather has a very small impact on the worldwide stock market returns and that the significance of the weather effect is decreasing over time with a cyclical pattern in terms of its recurrence. We identify the year 2001 as the cut-off point when the significance of weather on stock markets diminishes. No support has been found for a real difference in the weather effect between emerging and developed countries. However, evidence has been found of the relative inefficiency of the emerging markets and for the declining influence of weather in time.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
Livre impression à la demande
PAP. Etat : New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Edité par Anchor Academic Publishing 2013-05, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : Chiron Media, Wallingford, Royaume-Uni
Livre
PF. Etat : New.
Edité par Grin Verlag, 2012
ISBN 10 : 3656322473ISBN 13 : 9783656322474
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
Livre impression à la demande
PAP. Etat : New. New Book. Delivered from our UK warehouse in 4 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : moluna, Greven, Allemagne
Livre impression à la demande
Etat : New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. One renowned and frequently researched anomaly over the last two decades is the weather effect, more precisely, the impact of weather on stock market returns. The extensive literature on the weather effect fails to converge towards a unique, systematic and .
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
Livre impression à la demande
PAP. Etat : New. New Book. Delivered from our UK warehouse in 4 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Edité par Anchor Academic Publishing, 2013
ISBN 10 : 3954890569ISBN 13 : 9783954890569
Vendeur : dsmbooks, Liverpool, Royaume-Uni
Livre
Paperback. Etat : Like New. Like New. book.