Investment Analysts Journal最新文献

{"title":"The impact of conventional energy markets on connectedness dynamics among eco-friendly assets","authors":"Oktay Özkan, Asil Azimli, Tomiwa Sunday Adebayo","doi":"10.1080/10293523.2024.2312706","DOIUrl":"https://doi.org/10.1080/10293523.2024.2312706","url":null,"abstract":"This study examines the connectedness among eco-friendly assets and how volatility in fossil energy markets affects this connectedness. Using a broad coverage for eco-friendly assets such as a clea...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"29 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2024-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140034416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do changes in star selection criteria affect analyst behaviour?","authors":"Karam Kim, Doojin Ryu, Jinyoung Yu","doi":"10.1080/10293523.2024.2312709","DOIUrl":"https://doi.org/10.1080/10293523.2024.2312709","url":null,"abstract":"This study examines whether the star analyst selection criteria affect analysts’ coverage decisions and the informativeness of their reports. We focus on a change to the star evaluation criteria th...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"46 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140017317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Under- or -overreaction: Investors’ response to black swan events","authors":"Luu Thu Quang","doi":"10.1080/10293523.2023.2269668","DOIUrl":"https://doi.org/10.1080/10293523.2023.2269668","url":null,"abstract":"The objective of this study is to explore whether four categories of investors overreact or underreact to specific black swan events in the Vietnam Stock Exchange (HSX) and whether their trading pa...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"123 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536608","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pairs trading in cryptocurrency markets: A comparative study of statistical methods","authors":"Po-Chang Ko, Ping-Chen Lin, Hoang-Thu Do, Yuan-Heng Kuo, Linh My Mai, You-Fu Huang","doi":"10.1080/10293523.2023.2268386","DOIUrl":"https://doi.org/10.1080/10293523.2023.2268386","url":null,"abstract":"This study aims to identify a secure and efficient trading approach for investors in highly volatile cryptocurrency markets. While pairs trading is a promising strategy, the available literature on...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"31 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Rating to economic profit: Valuation properties, implementation issues, and the justification of target prices","authors":"Apostolos Ballas, Grigoria Chlomou, Efthimios Demirakos","doi":"10.1080/10293523.2023.2269669","DOIUrl":"https://doi.org/10.1080/10293523.2023.2269669","url":null,"abstract":"This study offers a comprehensive theoretical and empirical analysis of a fundamentals-based investment criterion (HSBC’s Rating to Economic Profit – REP). By employing a large sample of US-listed ...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"39 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Quantile dependencies between exchange rate volatility and sectoral stock returns in South Africa","authors":"Darren Mubaiwa, Ismail Fasanya","doi":"10.1080/10293523.2023.2268372","DOIUrl":"https://doi.org/10.1080/10293523.2023.2268372","url":null,"abstract":"This study assesses the effect of USD-Rand exchange rate volatility on South African sectoral stock returns between 29 March 1996 and 28 July 2022. Using the quantile-on-quantile regression (QQR) t...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"14 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tracing cancer evolution and heterogeneity using Hi-C.","authors":"Dan Daniel Erdmann-Pham, Sanjit Singh Batra, Timothy K Turkalo, James Durbin, Marco Blanchette, Iwei Yeh, Hunter Shain, Boris C Bastian, Yun S Song, Daniel S Rokhsar, Dirk Hockemeyer","doi":"10.1038/s41467-023-42651-2","DOIUrl":"10.1038/s41467-023-42651-2","url":null,"abstract":"<p><p>Chromosomal rearrangements can initiate and drive cancer progression, yet it has been challenging to evaluate their impact, especially in genetically heterogeneous solid cancers. To address this problem we developed HiDENSEC, a new computational framework for analyzing chromatin conformation capture in heterogeneous samples that can infer somatic copy number alterations, characterize large-scale chromosomal rearrangements, and estimate cancer cell fractions. After validating HiDENSEC with in silico and in vitro controls, we used it to characterize chromosome-scale evolution during melanoma progression in formalin-fixed tumor samples from three patients. The resulting comprehensive annotation of the genomic events includes copy number neutral translocations that disrupt tumor suppressor genes such as NF1, whole chromosome arm exchanges that result in loss of CDKN2A, and whole-arm copy-number neutral loss of homozygosity involving PTEN. These findings show that large-scale chromosomal rearrangements occur throughout cancer evolution and that characterizing these events yields insights into drivers of melanoma progression.</p>","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"31 1","pages":"7111"},"PeriodicalIF":16.6,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10628133/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81878333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does stock market liberalisation reduce earnings management? Evidence from China","authors":"Chen Song, Leqin Chen","doi":"10.1080/10293523.2023.2268368","DOIUrl":"https://doi.org/10.1080/10293523.2023.2268368","url":null,"abstract":"ABSTRACTThis paper employs the Stock Connect programme to examine the impact of stock market liberalisation on the earnings management activities of listed firms in China. Using the time-varying difference-in-difference model, we find that both accrual-based and real earnings management activities decrease after firms join the Stock Connect programme. This reduction effect disappears once the firms leave the programme. These firms may even resume their earnings management activities. We further find that the participation of international investors, the improvement of the information environment, and the strengthening of monitoring power are potential transmission channels for this reduction effect.KEYWORDS: stock market liberalisationearnings managementcorporate governanceJEL CLASSIFICATION: G15G34M41 Disclosure statementNo potential conflict of interest was reported by the authors.Data availability statementThe data that support the findings of this study are available from CSMAR. Data are available from the authors with the permission of CSMAR.Notes1 A-shares, also called domestic shares, are denominated in Chinese yuan (RMB) and traded on the Shanghai, Shenzhen, or Beijing Stock Exchange. B-shares are denominated in foreign currencies and traded on the Shanghai or Shenzhen Stock Exchange. H-shares are the shares of mainland Chinese firms that are traded on the Hong Kong Stock Exchange (HKEX). The QFII programme allows qualified international institutional investors to invest in A-shares. The RQFII programme further allows qualified international institutional investors to invest in A-shares with offshore RMB. China–Japan ETF connectivity enables the listing of feeder ETFs of ETFs investing in Chinese or Japanese assets.2 Composition of the SC programme: all constituent stocks of the SSE 180 and 380 Indices, the SZSE Component Index, the SZSE Small/Mid Cap Innovation Index with a market capitalisation of at least RMB6 billion, and all other AH shares. AH shares refer to Chinese companies which are dual-listed in the A-share market and the HKEX.Additional informationFundingThis work was supported by the Macau University of Science and Technology Research Funding [Award Number: FRG-23-048-MSB] and Shenzhen Technology University.","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"32 19","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135867962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sector exposures in factor portfolios: Why neutralise when you can optimise?","authors":"Andrew Paskaramoorthy, Emlyn Flint","doi":"10.1080/10293523.2023.2253624","DOIUrl":"https://doi.org/10.1080/10293523.2023.2253624","url":null,"abstract":"Managing sector risk within factor portfolios has traditionally been viewed as a binary decision problem: to neutralise sector risk or not. Challenging this view, we introduce a novel conceptual fr...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"1 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Leveraging defence into offence: enhancing absolute and risk-adjusted equity returns with tail risk management overlays","authors":"Bruno Schwalbach, Christo Auret","doi":"10.1080/10293523.2023.2245243","DOIUrl":"https://doi.org/10.1080/10293523.2023.2245243","url":null,"abstract":"Research has shown that tail risk hedging using explicit option purchases and trend-following effectively mitigate equity tail risk. This paper demonstrates that these defensive qualities can be le...","PeriodicalId":44496,"journal":{"name":"Investment Analysts Journal","volume":"8 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138536606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}