Financial Assets and Investing最新文献

Empirical Test of Fama and French Three-Factor Model in the Egyptian Stock Exchange Fama和French三因素模型在埃及证券交易所的实证检验

Financial Assets and Investing Pub Date : 2020-12-31 DOI: 10.5817/FAI2020-2-1

M. Abd-Alla, M. Sobh

引用次数: 1

The Impact of Herding on the Risk Pricing in the Egyptian Stock Exchange 羊群效应对埃及证券交易所风险定价的影响

Financial Assets and Investing Pub Date : 2020-12-31 DOI: 10.5817/FAI2020-2-2

M. Abd-Alla, M. Sobh

引用次数: 0

Determination and Verification of the Key Assessment Indicators for the Insurance Market by Applying the Decomposition Multi-attribute Methods and Regression Analysis 基于分解多属性法和回归分析的保险市场关键评价指标确定与验证

Financial Assets and Investing Pub Date : 2019-10-01 DOI: 10.5817/fai2019-1-1

Martina Borovcová, Adéla Špačková

引用次数: 0

Analyzing the Emotional Bondage of Serial Fans and Business Decisions on Series Extension in the Context of Impact on the Stock Price of the Providers 在影响供应商股价的背景下，分析系列粉丝的情感束缚与系列扩展的商业决策

Financial Assets and Investing Pub Date : 2019-10-01 DOI: 10.5817/fai2019-1-2

Dennis J. Schmidt, Alexander Zureck, Stefanie Gradetzki, Gennadij Seel

引用次数: 2

Oil Prices and Stock Markets in Europe: Detection of Extreme Risk Spillover 欧洲的石油价格和股票市场:极端风险溢出的检测

Financial Assets and Investing Pub Date : 2019-10-01 DOI: 10.5817/fai2019-1-3

Blanka Łęt

引用次数: 1

The Use of Qualitative Indicators in Banking Rating Systems 定性指标在银行评级系统中的应用

Financial Assets and Investing Pub Date : 2019-02-25 DOI: 10.5817/fai2018-2-2

Martin Svítil

{"title":"The Use of Qualitative Indicators in Banking Rating Systems","authors":"Martin Svítil","doi":"10.5817/fai2018-2-2","DOIUrl":"https://doi.org/10.5817/fai2018-2-2","url":null,"abstract":"The article compares internal rating systems of three banks from the German-speaking region, continuing with last year's research. In this paper a detailed analysis of qualitative indicators (soft - facts) is made. These qualitative indicators, as one of the two main components of banking rating systems have the wage of between 30% and 50% of the overall rating score. This makes this part of rating certainly important enough to be further researched. The research is focused on the rating of business entities, more precisely the corporate, (especially limited liability companies or joint-stock companies). It does not deal with the rating of natural persons or non-profit organizations, municipalities etc. The procedure of collecting empirical data as well as data from relevant literature, their assessment according to the criteria of verifiability and relevance and the application of the induction method was used and a generalization of conclusions was subsequently made. The goal of this research was to find out if the structure of used qualitative factors (soft- facts) is similar or even the same across the rating systems included in the comparison and what weights of individual factors are used. The result of the research shows that two categories of qualitative indicators (soft - facts) are present in all considered rating systems: (i) quality of company’s management and / or strategy and (ii) market on which the bank client operates. (iii) Accounting or related indicators like information system or audit quality also play a significant role in rating systems. On the other hand, the use of the factor (iv) relationship with the bank (or similar) is quite different across the rating systems included in the research. The number and structure of guidance questions that help risk-management analysts determine indicator values also differ. In one case, there is an extensive catalog of questions with a standardized set of responses. In other cases, the number of questions is lower and each one has its specific variation of the predefined answers the analyst selects from.","PeriodicalId":30338,"journal":{"name":"Financial Assets and Investing","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43597610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Determinants of Property Insurance Demand in Slovak Republic: Challenges and Obstacles 斯洛伐克共和国财产保险需求的决定因素:挑战与障碍

Financial Assets and Investing Pub Date : 2018-12-31 DOI: 10.5817/FAI2018-2-1

Tomáš Ondruška, Zuzana Brokesová, E. Pastoráková

引用次数: 0

Profitability of Sector Mutual Funds and ETFs During Market Development and Length of Investment Horizon 行业共同基金和ETF在市场发展过程中的盈利能力和投资期限

Financial Assets and Investing Pub Date : 2018-12-31 DOI: 10.5817/FAI2018-2-3

M. Širůček, Jan Vystoupil, Petr Strejček

{"title":"Profitability of Sector Mutual Funds and ETFs During Market Development and Length of Investment Horizon","authors":"M. Širůček, Jan Vystoupil, Petr Strejček","doi":"10.5817/FAI2018-2-3","DOIUrl":"https://doi.org/10.5817/FAI2018-2-3","url":null,"abstract":"This paper focuses on the profitability of investments into IT, finance, healthcare and consumer goods oriented active and passive mutual funds and ETFs and their profit/loss in different market situations (growing, stagnant and decreasing markets).The aim of the paper is to set recommendations for investors as regards which instrument (active or passive mutual fund or ETFs) brings higher return or lower loss over the time and market development and if investors can expect different results based on the sector orientation, which sector is more sensitive to bullish or bearish trends. Our results show that neither ETF nor passive mutual funds were able to beat the market, as the sector index brings better results than these investments in all situations. Within bearish trend, all sector ETFs and passive mutual funds bring the same results as sector index, only active managed mutual funds bring better results. The lowest loss during this period was achieved by active managed mutual funds focusing on healthcare. Bullish and stagnant markets bring quite the same results, but passive funds and ETF are more profitable than active mutual funds in growing markets.","PeriodicalId":30338,"journal":{"name":"Financial Assets and Investing","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43239091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Effect of Leverage on Corporate Cash Holdings: Evidence from Indonesian Manufacturing Firms 杠杆对企业现金持有量的影响:来自印尼制造业企业的证据

Financial Assets and Investing Pub Date : 2018-12-31 DOI: 10.5817/FAI2018-2-4

Anggita Langgeng Wijaya, N. Bandi

引用次数: 1

Empirical Testing of the Response of Czech Stock Market to Downgrades of Greek Credit Rating in the Light of the Efficient Market Hypothesis 有效市场假说下捷克股市对希腊信用评级下调反应的实证检验

Financial Assets and Investing Pub Date : 2018-05-31 DOI: 10.5817/FAI2018-1-4

P. Šeda, J. A. Río, María de los Baños García-Moreno García

{"title":"Empirical Testing of the Response of Czech Stock Market to Downgrades of Greek Credit Rating in the Light of the Efficient Market Hypothesis","authors":"P. Šeda, J. A. Río, María de los Baños García-Moreno García","doi":"10.5817/FAI2018-1-4","DOIUrl":"https://doi.org/10.5817/FAI2018-1-4","url":null,"abstract":"Empirical testing of the linkages between macroeconomic news and asset price movements in terms of response to released macroeconomic information have been a subject of many investigations using different testing methods. The objective of this paper is to study the impact of announcements of Greek credit rating downgrades on the prices of the most liquid assets quoted in the Czech stock market. This issue is tightly related to semi-strong form of the efficient market hypothesis, which is one of possible analytical approaches when analyzing behaviour of assets in financial markets. The reaction of the Czech stock market is assessed in relation to seven announcements of Moody´s rating agency regarding changes of credit rating of Greek government bonds in the period 2009–2012. For the purpose of this paper, the event study methodology is applied. The basic idea of this statistical method is to determine values of abnormal returns, which can be defined as a difference between actual and equilibrium returns. In order to calculate equilibrium returns, the Capital Asset Pricing Model (CAPM) is used. The differences between actual and equilibrium returns are then verified with a help of selected nonparametric statistical tests. Namely, the exact sign test and the Wilcoxon signed-rank test are utilized. Based on results of nonparametric statistical tests, the null hypothesis of information efficiency of the Czech stock market is conclusively rejected.","PeriodicalId":30338,"journal":{"name":"Financial Assets and Investing","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44740666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2