Download or read book The Dynamics of Value Comovement Across Global Equity Markets written by Mayank Gupta and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Dynamics of Value Across Global Equity Markets written by Jan Novotny and published by . This book was released on 2015 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ratio between the share price and current earnings per share, the PE ratio, is widely considered to be an effective gauge of under/overvaluation of a corporation's stock. Arguably, a more reliable indicator, the Cyclically-Adjusted Price Earning ratio or CAPE, can be obtained by replacing current earnings with a measure of permanent earnings i.e. the profits that a corporation is able to earn, on average, over the medium to long run. In this study, we aim to understand the cross-sectional aspects of the dynamics of the valuation metrics across global stock markets including both developed and emerging markets. We use a time varying DCC model to exploit the dynamics in correlations, by introducing the notion of value spread between CAPE and the respective Market Index from 2002 to 2014 for 34 countries. We find periods, notably around the 2008 financial crisis, when the value spread shows large degree of variation and thus provide a statistically significant signal for the asset allocation. The signal can be utilized for better asset allocation as it allows one to interpret the common movements in the stock market for under/overvaluation trends. These estimates clearly indicate periods of misvaluation in our sample. Furthermore, our simulations suggest that the model would have been able to provide early warning signs of misvaluation in real time on a global scale and formation of asset bubbles.
Download or read book The Dynamics of Value Comovement Across Global Equity Markets written by Mayank Gupta and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equity Markets in Action written by Robert A. Schwartz and published by John Wiley & Sons. This book was released on 2004-10-06 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the nature of market making and exchanges From theory to practicalities, this is a comprehensive, up-to-date handbook and reference on how markets work and the nuances of trading. It includes a CD with an interactive trading simulation. Robert A. Schwartz, PhD (New York, NY), is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Reto Francioni, PhD (Zurich, Switzerland), is President and Chairman of the Board of SWX, the Swiss Stock Exchange, and former co-CEO of Consors Discount Broker AG, Nuremberg.
Download or read book Global Stock Markets written by Wolfgang Drobetz and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wolfgang Drobetz provides empirical evidence on the time variation of expected stock returns over the stages of the business cycle.
Download or read book Stock Market Liquidity written by François-Serge Lhabitant and published by John Wiley & Sons. This book was released on 2008-01-09 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together today's best financial minds across the world to discuss the issue of liquidity in today's markets. It is often proxied by trade-based measures (such as trading volume, frequency of trading, dollar value of shares trade, etc), order based measures and price impact measures.
Download or read book Sovereign Risk and Return in Global Equity Markets written by Ravi Bansal and published by . This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Equity Selection Strategies written by Ross Paul Bruner and published by Routledge. This book was released on 2014-01-27 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past several years, the field of international investing has been transformed by a host of new, state-of-the-art techniques. Quantitative Investing for the Global Markets is the definitive handbook for money and portfolio managers, research analysts, pension consultants, corporate treasurers, and other professionals seeking a competitive edge in the global investment marketplace. Topics include: international asset allocation; optimum diversification levels; style analysis and evaluation; market neutral strategies; global stock valuation; advanced strategies for hedging currency risk; international benchmarking; etc.
Download or read book Equity Markets in Transition written by Reto Francioni and published by Springer. This book was released on 2017-01-17 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book underscores the complexity of the equity markets, the challenges they face, and the fact that they are still a work in process. Three interacting forces drive market change: competition, technology change, and regulatory change. The markets have one major objective in particular to achieve: the delivery of accurate price discovery for both traders and the broader market. Are we getting it? Are competition, technology, and regulation acting together to improve market quality, or are they adding to the complexity of the markets and making accurate price discovery harder to achieve? The difficulty of addressing these issues and reaching a consensus regarding public policy is reflected in the diverse opinions expressed in this book. From an institutional perspective, the volume’s contributors highlight the interconnectedness of all aspects of the internal and external environment within which exchange organizations act. Equity Markets in Transition underscores how technological evolution and recent regulatory changes have influenced the business, and how these developments have opened new possibilities for exchange organizations and for equity markets as a whole, including such issues as the impact of equity markets on job creation. The book combines both a theoretical and a practical approach. Part I presents a theoretical overview of the international equity market business, including an overall description of the value chain of stock trading that includes deep dives on every decisive step. Part II contains contributions from various business specialists who have specific practical and academic knowledge of the different steps. Equity Markets in Transition represents a unique combination of theoretical and practical analysis that offers first-hand insights on all relevant interactions and interrelations among the various parts of the exchange business, with an emphasis on facilitating analysis of the status quo and of emerging trends regarding business models, regulation, and the development of the competitor, customer and investor sides.
Download or read book The Internationalization of Equity Markets written by Jeffrey A. Frankel and published by University of Chicago Press. This book was released on 2008-04-15 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.
Download or read book Global Asset Allocation written by Heinz Zimmermann and published by John Wiley & Sons. This book was released on 2003-02-03 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reveals new methodologies for asset pricing within a global asset allocation framework. Contains cutting-edge empirical research on global markets and sectors of the global economy. Introduces the Black-Litterman model and how it can be used to improve global asset allocation decisions.
Download or read book International Equity Exchange Traded Funds written by Tomasz Miziołek and published by Springer Nature. This book was released on 2020-09-23 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the economic foundation of international equity investments providing a practical guide to invest in international equity exchange-traded funds (ETFs). It shows how to gain exposure to foreign stock markets through both theoretical foundations of international diversification and in-depth characteristics of global, regional, country-specific, and international sector/thematic ETFs. Unlike other books in the field which broadly discuss different aspects of the ETF market, this book explores one specific market segment, offering the first in-depth and state-of-the-art analysis of international equity ETFs and including, in particular, ETFs with global, regional, single-country, and international sector/thematic exposures. The number and variety of such financial instruments are constantly growing. Hence, it seems obvious that there is an urgent need for a book that will help investors who are willing to diversify their portfolios outside the domestic market—in both developed and emerging/frontier markets. International Equity Exchange-Traded Funds presents a comprehensive review of investment possibilities offered by international ETFs for stock market investors.
Download or read book Multi Style Global Equity Investing written by David Garff and published by . This book was released on 2013 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The majority of factor analysis to-date has been isolated to the individual equity markets or in a cross-asset class framework, with very little literature that analyzes these factors across the equity markets of different countries. The goal of the study is to add to the body of research by exploring an additional question: Does a multi-style investment strategy add value when analyzed across a universe of countries?
Download or read book Global Equity Markets written by Robert Alan Schwartz and published by Irwin Professional Publishing. This book was released on 1995 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global equity market structure faces constant change and development. This timely resource is for financial professionals who want to understand the full scope of these changes, as well as the range of challenges they pose. In this book, noted regulators, scholars, and other professionals assess the current state of major and emerging global securities markets and the forces that move them.
Download or read book Risk Management in Emerging Markets written by Sabri Boubaker and published by Emerald Group Publishing. This book was released on 2016-10-04 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses three main dimensions of risk management in emerging markets: 1) the effectiveness of risk management practices; 2) current issues and challenges in risk assessment and modelling in emerging market countries; 3) the responses of emerging markets to the recent financial crises and the design of risk management models.
Download or read book The Global Stock Market written by Dariusz Wójcik and published by OUP Oxford. This book was released on 2011-05-26 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do some companies stay out of stock markets? How crucial are stock markets for competition between financial centres? How can local information help investors outperform the market? Whilst mainstream financial economics treats stock markets as consisting of anonymous actors interacting in space, with no consideration of the friction caused by distance or geography, this book offers a comprehensive and up-to-date picture of the global stock market by focusing on the relationships between issuers, investors, and intermediaries, and how these relationships impact on the performance of stock markets and the economy of cities, countries, and the world. The book uses rich data and global case studies to examine the rise of emerging markets, the impact of the global financial crisis, the revolution in the stock exchange business model, and the continued dominance of London and New York as stock market centres. Drawing on economic geography, financial economics, sociology, history, and globalization studies, the book explores the geographical constitution and footprint of stock markets and contributes to the broader debate on the role of stock markets in the global economy. Its conclusions are relevant to investors, companies issuing stocks, exchanges, analysts, investment banks, and policy-makers.
Download or read book Global Stock Markets and Portfolio Management written by S. Motamen-Samadian and published by Springer. This book was released on 2006-04-12 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest empirical findings on stock markets in a number of emerging markets. The authors employ the latest techniques and provide valuable insights into each market, highlighting global integration, their potential for profitable investments and features that will be influential in global portfolio decision-making.
