MoneyScience News |
- Vendor News: July 14, 2015 - SS&C GlobeOp Hedge Fund Performance Index: June performance-0.65%; Capital Movement Index: July net flows decline 2.71%
- Published / Preprint: Bifurcation patterns of market regime transition. (arXiv:1507.03141v1 [q-fin.ST])
- Published / Preprint: Intransitivity in Theory and in the Real World. (arXiv:1507.03169v1 [q-fin.EC])
- Published / Preprint: Contagion effects in the world network of economic activities. (arXiv:1507.03278v1 [q-fin.ST])
- Published / Preprint: Analysis of cyclical behavior in time series of stock market returns. (arXiv:1507.03378v1 [q-fin.ST])
- Published / Preprint: Shareholder Voting and Corporate Governance Around the World
- Published / Preprint: Territorial Tax System Reform and Corporate Financial Policies
- Published / Preprint: Information Management in Banking Crises
- Published / Preprint: House Prices, Home Equity Borrowing, and Entrepreneurship
- Blog Post: Luigi.Ballabio: Chapter 8, part 3 of n: boundary conditions
| Posted: 14 Jul 2015 01:07 AM PDT      |
| Posted: 13 Jul 2015 05:37 PM PDT The goal of this research was applying a nonlinear approach to the detection of market regime transitions: mean reversion to momentum regimes and vice versa.It has been shown that the transition process has nonlinear scenarios: slow and fast bifurcations.Slow bifurcation assumes that control parameter is changing slowly in relation to the system characteristic time. Gradual absorption of... Visit MoneyScience for the Complete Article.    |
| Posted: 13 Jul 2015 05:37 PM PDT This work considers reasons for and implications of discarding the assumption of transitivity, which (transitivity) is the fundamental postulate in the utility theory of Von Neumann and Morgenstern, the adiabatic accessibility principle of Caratheodory and most other theories related to preferences or competition. The examples of intransitivity are drawn from different fields, such as law,... Visit MoneyScience for the Complete Article.    |
| Posted: 13 Jul 2015 05:37 PM PDT Using the new data from the OECD-WTO world network of economic activities we construct the Google matrix $G$ of this directed network and perform its detailed analysis. The network contains 58 countries and 37 activity sectors for years 1995, 2000, 2005, 2008, 2009. The construction of $G$, based on Markov chain transitions, treats all countries on equal democratic grounds while the contribution... Visit MoneyScience for the Complete Article.    |
| Posted: 13 Jul 2015 05:36 PM PDT In this paper we have analyzed scaling properties and cyclical behavior of the three types of stock market indexes (SMI) time series: data belonging to stock markets of developed economies, emerging economies, and of the underdeveloped or transitional economies. We have used two techniques of data analysis to obtain and verify our findings: the wavelet spectral analysis to study SMI returns data,... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Shareholder Voting and Corporate Governance Around the World Posted: 13 Jul 2015 05:35 AM PDT Using a sample of non-U.S. firms from 43 countries, we investigate whether laws and regulations as well as votes cast by U.S. institutional investors are consistent with an effective shareholder voting process. We find that laws and regulations allow for meaningful votes to be cast, as shareholder voting is both mandatory and binding for important elections. For votes cast, we find there is... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Territorial Tax System Reform and Corporate Financial Policies Posted: 13 Jul 2015 05:35 AM PDT We examine the effect of a permanent change to a country corporate income repatriation tax system on corporate financial policies. In 2009, Japan and the United Kingdom switched from a worldwide system to a territorial system for the taxation of repatriated foreign earnings, effectively reducing the tax liabilities of most multinational firms when repatriating earnings. We find that after the... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Information Management in Banking Crises Posted: 13 Jul 2015 05:35 AM PDT A regulator resolving a bank faces two audiences: depositors, who may run if they believe the regulator will not provide capital, and banks, which may take excess risk if they believe the regulator will provide capital. When the regulator's cost of injecting capital is private information, it manages expectations by using costly signals: (1) a regulator with a low cost of injecting capital may... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: House Prices, Home Equity Borrowing, and Entrepreneurship Posted: 13 Jul 2015 05:35 AM PDT This paper shows that housing wealth helps alleviate credit constraints for potential entrepreneurs by enabling home owners to extract equity from their property and invest it in their business. Using a large U.S. individual-level survey dataset for the 1996–2006 period, we find that a 10% increase in home equity raises the share of individuals who transition into self-employment each year... Visit MoneyScience for the Complete Article.    |
| Blog Post: Luigi.Ballabio: Chapter 8, part 3 of n: boundary conditions Posted: 13 Jul 2015 01:36 AM PDT    |
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