Pricing Inefficiencies in Japanese Equity Warrant Markets PDF Download
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Author: P. H. Kevin Chang
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Book Description
Author: P. H. Kevin Chang
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Book Description
Author: Richard Downes
Publisher:
ISBN:
Category : Equity
Languages : en
Pages : 142
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Book Description
Author: Robert Zielinski
Publisher: Kodansha America
ISBN:
Category : Brokers
Languages : en
Pages : 264
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Book Description
Examines the Japanese stock market, its insular policies, and its role in the world economy and international economic relations.
Author: Kevin Connolly
Publisher: Palgrave Macmillan
ISBN: 9780333569856
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This market is the largest and most liquid-call type derivative in the world. Philips and Connolly intend to clarify definitions and discuss why the warrant is so important to the institutional investor. The authors consider its versatility and the implications for profit from the tremendous volatility in this market.
Author: Mr.Jun Nagayasu
Publisher: International Monetary Fund
ISBN: 145185627X
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Using the ARFIMA-FIGARCH model, this paper studies the efficiency of the Japanese equity market by examining the statistical properties of the return and volatility of the Nikkei 225. It shows that both follow a long range dependence, which stands against the efficient market hypothesis (EMH). The result is valid for all sample periods, suggesting that the recent equity market reform has not produced major efficiency gains.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 196
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Book Description
Author: Kevin Connolly
Publisher:
ISBN: 9781561590346
Category : International finance
Languages : en
Pages : 228
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Book Description
Author: Benn Steil
Publisher: Chatham House (Formerly Riia)
ISBN:
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
Rapidly rising share prices in the 1980s served to hide significant inefficiencies in the Japanese securities markets, many of which derive directly from the operation of the regulatory system.While these inefficiencies are becoming increasingly costly and transparent in the more sober market environment of the 1990s, the regulatory structure at the heart of the problem remains fundamentally untouched. The European Community, meanwhile, is working to construct a Community-wide regulatory umbrella for securities markets, and is in danger of succumbing to the most damaging tendency of the Japanese authorities.This is to view the markets not in terms of their ultimate services, but rather in terms of the interests of incumbent service providers. Directives which are supposed to facilitate free and open cross-border competition are instead being used to protect Member State producer interests.
Author: Rui M.C. Guimaraes
Publisher: Springer Science & Business Media
ISBN: 3642747418
Category : Business & Economics
Languages : en
Pages : 799
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Book Description
The behaviour of market prices is a fascinating subject for researchers. Opinions vary substantially. from the view that prices accurately and quickly reflect relevant information to the other extreme that prices are not rationally determined and are hence to some degree predictable. This diversity of belief about the efficiency of markets is reflected in these proceedings of the NATO Advanced Research Workshop on "A reappraisal of the efficiency of financial markets". The thirty-one workshop papers cover stock. currency and commodity markets. We are pleased to have contributions on markets in eleven NATO countries: Belgium. Canada. Denmark. France. Germany. Greece. Italy. the Netherlands. Portugal. the United Kingdom and the United States. The workshop papers thus provide a wide-ranging account of contemporary research into financial markets worldwide. The workshop was held at the Hotel do Mar. Sesimbra. Portugal from April 11 th to April 15th. 1988. We record our gratitude to Jose Cabral for ensuring the smooth progress of the workshop. The generous financial assistance of NATO was supplemented by contributions from: The Chicago Board of Trade. Alianca Seguradora. Banco Comercial Portugues. Fundacao Luso-Americana Para 0 Desenvolvimento. Junta Nacional de Investigacao Cientifica e Tecnologica. We speak for all the workshop participants in expressing our thanks to all our sponsors. Rui M. Campos Guimaraes. University of Porto.
Author: Masahiko Aoki
Publisher: Clarendon Press
ISBN: 0191521744
Category : Business & Economics
Languages : en
Pages : 684
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Book Description
BL Gives a definitive description and analysis of the main bank system BL Strong contributors BL Understudied subject BL Incorporates results of a major World Bank research programme BL Balances institutional description with financial theory and empirical analysis This volume looks at systems of corporate finance, concentrating on the Japanese main bank system. The remaining chapters describe different systems, assessing to what extent the Japanese system can serve as a model for developing market economies and transforming socialist economies. The basic characteristics of the main bank system are examined here, its roots, development, and its role in the heyday of its rapid growth. The volume looks at how the system has performed and at its strengths and weaknesses. It goes on to look at how the system has changed and what its approprate role is as deregulation, liberalization, and internationalization of Japan's financial markets have proceeded over the past two decades and a new issue securities market has emerged. A basic conclusion of the book is that banking-based systems are in most cases the most appropriate for industrial financing until a rather late stage of a country's economic and financial development. It aims to identify the conditions under which banks are better able that securites market institutions to evaluate the credit worthiness of borrowers and the viability of new projects, to monitor the ongoing performance of firms, and to rescue or liquidate firms in distress. Contributors: Masahiko Aoki, Theodor Baums, V.V.Bhatt, John Campbell, Yasushi Hamao, Toshihiro Horiuchi, Takeo Hoshi, Anil Kashyap, Dong-Wong Kim, Gary Loveman, Sang-Woo Nam, Frank Packer, Hugh Patrick, Yingyi Qian, Mark Ramseyer, Clark Reynolds, Satoshi Sunamura, Paul Sheard, Juro Teranishi, Kazuo Ueda,
