Current Issue : April - June Volume : 2020 Issue Number : 2 Articles : 5 Articles
The rapid development of the economy emphasizes the importance of financial\nrisk. Financial risk analysis can help people understand finance more\ndeeply and reduce the loss of profits. This paper is about the dependence on\nstocks, which is very important for analyzing the dependence structure of\nstock market and the portfolio risk of investment market. The experimental\ndata are the daily closing price data of shares of Midea Group and Gree Electric.\nCopula theory is used to fit the daily return data of Gree Electric and\nMidea Group. By establishing the correlation structure model of the stock\nmarket, the daily return data of Gree Electric and Midea Group are better simulated....
Since the remarkable development of economy, the importance of performance\nhas been paid increasing attention to. As an extreme sector of fiscal\nand tax system, performance of budget is significant to government business\nand public service. However, some issues of budget performance management\nare expected to be updated. This paper will analyze the issues on the\nprocess of budgeting by game theory....
This research is based on pecking order theory, which is one of the major\ncapital structure determinant theory, driven by the information asymmetry.\nThe purpose of this research is to investigate whether the pecking order\ntheory provides an accurate description of companies financing choices in the\ncontext. Further, to examine whether informational asymmetry plays an important\nrole in determining the financing hierarchy, and whether the financial\ndeficit variable plays a key role determining the capital structure, the\nanalysis has been conducted by utilizing a unique dataset from the Sri Lankan\nlisted companies within multiple industrial sectors from 2011 to 2017. Empirical\nanalysis has been done based on Panel data analysis model with regression\ntools suggested. The findings suggest that companyâ??s follow original\npecking order hypothesis where companiesâ?? preference towards debt is higher\nthan equity in determining their capital structure. Moreover, financing choices\nare contingent on informational asymmetry. Moreover, the financial deficit\nvariable has a significant impact compared to four more conventional capital\nstructure determinants....
Beta, as a measure of risk based on market prices of shares, has been widely\ndebated and researched in the strong, semi-strong and weak markets. It has\nbeen proved that there is neither negative nor abnormal beta. Past studies\nrarely considered frontier and infant markets such as Dar es Salaam Stock\nExchange (DSE) while studying beta and its behavior. By means of the corresponding\nclosing share prices of 17 companies during a continuous 246-day\ntrading period in 2018 extracted from DSE database, this study examines the\ntrading frequency anomalies in infant markets by testing returns and sensitivity\nof shares and portfolios. Through computing the betas of DSE traded\nshares, this study has found many abnormalities. The shares showed infrequent\ntrading like bonds. The prices were constant over a short period of\ntime, and sometimes the shares were not traded at all. Due to this small volatility,\nthe shares showed abnormal behavior which resulted in negative beta\nsometimes. We concluded that this could be due to two major reasons.\nFirstly, there is insufficient knowledge on the share market among the East\nAfrican investors and the public, and secondly, the markets are rather young\nand the trading platforms and infrastructures are not so well-established. We,\ntherefore, suggest the policy makers to optimize share trading in the region\nby considering the findings of this study....
Improvement in medical science is regarded as one of major factors that led\nto the constant improvement of living conditions in most of the countries\nwith the result that mortality rate has been declining, thereby resulting in a\nsteady increase of life expectancy which further led to creating higher financial\nresponsibilities for pension and annuity providers. In essence, mortality\nforecasts are essential for predicting the future extent of population ageing,\nand for determining the sustainability of pension schemes and social security\nsystems. The objective of this paper is to fit multiple regression models to\nmeasure how the various predictive variables relate to mortality. We intend to\nselect a statistical model from the model class that best fits the data by choosing\nthe model that has the smallest AIC value. From the analysis of our research,\nwe found that income deprivation is the strongest independent predictor\nof mortality rates in a neighbourhood, though each of the variables is\nstatistically significant at less than 5%....
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