| | |

Archive search


Fulltext search

STOCK PRICE PREDICTION USING MARKOV CHAINS ANALYSIS WITH VARYING STATE SPACE ON DATA FROM THE CZECH REPUBLIC

Milan Svoboda, Pavla Říhová

This empirical study deals with the short-term prediction of stock prices on the Czech stock market. Stock movements have been of interest to traders for a long time. Using a wide range of analytical methods, it tries to satisfactorily clarify past and present changes in stock prices. Based on these findings, it attempts to predict the future development of stock prices. Early forecasting allows traders to make capital gains. It is necessary to mention that according to Efficient Market Hypothesis (EMH), stock prices are unpredictable and markets are efficient. This means that the market responds immediately to any new information. This information cannot be predicted, it is randomly sent to the market and therefore the change in the exchange rate is random and the exchange rates perform a so-called ʻrandom walk’. In efficient markets the above-average profits cannot be achieved and according to this theory, other approaches are dysfunctional.
more

INCOME TAX PREFERENCE AND R&D INVESTMENTS OF HIGH-TECH ENTERPRISES IN CHINA

Wunhong Su,Yi-Hao Fan

Science and technology contribute 87.5% to economic growth (Solow, 1957). Enterprises, especially high-tech enterprises, largely perform research and Development (R&D) activities. Risks of R&D activities lead to free-riding among enterprises. The income tax preference is preferred to control the free-riding because of reflecting the incentive effect of tax revenue on the economic development (Bronzini & Piselli, 2016). Most industrialized countries implement special income tax incentives to boost the R&D investment of enterprises (Elschner et al., 2011). The additional deduction, accelerated depreciation, and innovation box are common policies (McCutchen, 1993). For instance, Japan issues the schedule of fixed assets depreciation in 1951 and stimulate Innovation of enterprises. Since 2003, OECD countries continually increase incentives for enterprises to the R&D investment. China begins to offer income tax preference to R&D investments of enterprises in the 1990s.
more

URBAN MAGNETISM IN THE GLOBAL CITY FRAMEWORK: EXPLORING THE LINK BETWEEN URBAN FUNCTIONS AND POPULATION GROWTH

Jelena J. Stanković, Ivana Marjanović, Saša Drezgić

The competitiveness of cities is most often associated with their economic performances, but there is a growing consensus that other factors must be observed as relevant (Huggins et al., 2014). The performance of modern cities, in addition to hard infrastructure, is increasingly influenced by the availability and quality of social infrastructure (Caragliu et al., 2011). The development potential and competitiveness of the city depend on the quality of social infrastructure, i.e., human and social capital. Human capital is emerging as a major driver of innovation and economic growth. Therefore, attracting highly skilled workers plays a fundamental role in the perspective of cities since the economic progress of cities depends on the knowledge of highly skilled workers (Buch et al., 2017). The impact of population growth on urban areas is multidimensional, in addition to the impact on infrastructure, economy and patterns of social interaction, population growth also affects the environment (Marshall, 2007).
more

CONVERGENCE CLUBS OF NUTS3 REGIONS OF THE V4 GROUP

Izabella Szakálné Kanó, Imre Lengyel

The issue of whether there is convergence or divergence between regions in terms of GDP per capita has long been investigated in regional studies. According to the position of neoclassical economics, if factors can flow freely and comparative advantages prevail, the flows of labour force and capital in opposite directions result in convergence in the long term. Less developed countries and regions with accelerated growth converge toward more developed regions. This hypothesis has been tested in several studies, utilising extensive methodology and instruments for the examination of convergence between countries and regions, e.g., absolute and conditional convergence, or beta and sigma convergence (Breinlich et al., 2014; Eurofound, 2018; Ertur & Le Gallo, 2009; Fischer & Stumpner, 2010; Halmai & Vásáry, 2012; Le Gallo & Fingleton, 2014; LeSage & Fischer, 2009).
more

THE DEFENSE OF PRICE DISCRIMINATION IN NETWORK AND INFORMATION GOODS MARKETS

Ivan Soukal

There can be found many articles in which price discrimination was swiftly considered as a negative phenomenon, mainly behavioural economy studies. Such studies described it as pricing leading to consumer-detrimental effects and increasing companies’ profits. However, this rule is not as universal as it may seem. The case is more complicated because exceptions do exist, and they are far from rare – software, cell carrier services, real-time stock quotes, electronic newspapers subscription, electric energy supply, payment accounts, books, copyrighted content streaming, file storage, and more. These information and network goods were often treated as any mass-produced physical goods, which is not an adequate approach. The article’s ambition is to contribute to a change. I hope that after reading the article, you would agree that price discrimination in the case of information and network goods should be viewed by different optics.
more

TOWARDS AN EFFICIENT APPROACH FOR IDENTIFICATION AND SELECTION OF STAKEHOLDER ENGAGEMENT STRATEGIES: A CASE STUDY

Mohammad Khalilzadeh, Omid Kebriyaii, Jonas Šaparauskas, Natalija Lepkova

Freeman (1984) describes stakeholders as “those groups who can affect or is affected by the achievement of the firm’s objectives”. “Each stakeholder will either expect or demand to be part of all critical decisions on the project” (Kerzner, 2009). The stakeholder engagement is the most substantial matter in any project (Abidin, 2010). Stakeholders are defined as legal entities or individuals who have stakes in a project or are able to affect project execution (Olander, 2005). McGrath and Whitty (2017) define stakeholder as “an entity with a stake (interest) in the subject activity”. Stakeholders can significantly influence on project outputs. At each project phase, the number and type of stakeholders may vary and have different interests that should be effectively met (Oppong et al., 2017). These different interests may conflict with each other and certainly make it even more difficult to determine stakeholder engagement strategies. It is not practically possible to make all project stakeholders satisfied.
more

IMPRESSION MANAGEMENT STRATEGY OF COPING WITH ENTREPRENEURIAL FAILURE STIGMA: A TWO-PATH THEORETICAL MODEL

Zhuang Xiong, Junzhou Yan, Lingling Wang

In recent years, despite the slowdown in the world economic performance, the trend of world innovation is still booming. The Global Innovation Index 2019 released by the World Intellectual Property Organization (WIPO) showed that the growth rate of global research and development expenditure is higher than that of global economy. As the foundation of entrepreneurship, the continuous improvement of innovation develops entrepreneurial activities. Moreover, the scale of entrepreneurial groups is expanding, and a vigorous entrepreneurial boom has formed through the implementation of positive entrepreneurial policies (Wang et al., 2019). However, the uncertainty and high risk in the entrepreneurship process determine that entrepreneurship is not smooth sailing. In particular, COVID-19 continues to spread throughout the world, and the business environment faced by new ventures is more difficult. More and more enterprises are unable to survive. The phenomenon of entrepreneurial failure exists objectively. Relevant data show that the failure rate of Chinese youth first venture is as high as 90% (Zheng et al., 2019). Furthermore, even the Chinese unicorn enterprises, such as OFO sharing bicycles, is from the favorite of the capital market to the end of brand failure.
more

DEVELOPMENT AND STANDARDIZATION OF A TOOL TO MEASURE KNOWLEDGE OF LABOUR LAWS AMONG EMPLOYEES

M. M. Sulphey, Awad Ali Alanzi, Martin Klepek

In the current world, there is an informational imbalance in employer-employee relationships (Cabrelli, 2019). While employers usually enjoy higher levels of resources, expertise, and access to information about labour conditions, employees are disadvantaged than employers as they have to face multiple issues and barriers. Employees are in a difficult situation concerning contract negotiation and writing. Due to better resources, employers are in a better place regarding eliciting unilaterally favourable contractual terms. As employers have a form of monopoly, they tend to be involved in intimidating and unprincipled behaviours like treating employees inconsistently, which could be detrimental (Deakin, 2012). There is also a gap in the process of monitoring and enforcement of contractual obligations (Wachter, 2012). This situation tends to affect employees far more than an employer, e. g. any cost overrun for the employer is often passed down indirectly to employees in reduced compensation and deferred benefits.
more

FINANCIAL ADVICE, LITERACY, INCLUSION AND RISK TOLERANCE: THE MODERATING EFFECT OF UNCERTAINTY AVOIDANCE

Gentjan Çera, Khurram Ajaz Khan, Zuzana Rowland, Humberto Nuno Rito Ribeiro

Not everyone has enough skills and abilities to tackle complex financial markets and make prudent financial decisions in uncommon situations. People worldwide have been using paid and unpaid sources for advice from someone they trust to overcome them. Numerous studies have witnessed fruitful results from financial advisors in financial planning, such as retirement planning and wealth creation (Irving, 2012; Stolper & Walter, 2017). The current issues, such as complexities of the financial market and difficulties arising out of the economic crisis, are becoming worrisome (Crotty, 2009; Taylor, 2011; Xiao & O’Neill, 2016). The volatile economic environment and the problems of retirement financial security (Wang & Shi, 2014) add to its severity. The most important of all is to know how to make a prudent economic decision in financial aspects (Lusardi & Mitchell, 2014). The suffering resulting from the likelihood of losing money due to erroneous financial conclusions leads to financial anxiety (Cwynar et al., 2020).
more

THE IMPACT OF INTRADAY MOMENTUM ON STOCK RETURNS: EVIDENCE FROM S&P500 AND CSI300

Saddam Hossain, Beáta Gavurová, Xianghui Yuan, Morshadul Hasan, Judit Oláh

According to data from the World Health Organization (WHO, 2020), the Coronavirus (COVID-19) outbreak in late December has spread to 216 countries, territories or regions, causing more than 21.5 (214,435,732) million confirmed casualties and 4,471,650 deaths worldwide on August 26, 2021. Due to the large and continuous spread of the novel coronavirus worldwide, on March 11, 2020, the WHO officially declared it a pandemic (Mahmud et al., 2021). In most economies, the COVID-19 pandemic has caused uncertainty and a temporary closure with positive cases coronavirus. Therefore, the purpose of this article is to assess the significant impact of the COVID-19 pandemic on intraday stock returns. Many investors close their holdings, including the stock market’s assets, thereby influencing the stock market. According to Jegadeesh and Titman (1993), the stock purchase method is appropriate when stock sales have performer poorly during the holding period of past 3-months to the 12-months. Besides, these forms of momentum gain are inappropriate to justify risk-based momentum. In exchange for 1 to 12 months (Moskowitz et al., 2012), the persistence in partially changed in a longer horizon.
more
|< < 1 2 3 118 119 120 >|

?
NAPOVEDA
reguired
Language