Stock excess returns, risk, and business conditions - empirical analyses of industry portfolios

2021 ◽  
Author(s):  
Shuh-Chyi Doong
Keyword(s):  
Excess Returns ◽  
Business Conditions ◽  
Empirical Analyses

scholarly journals Equity Return Dispersion and Stock Market Volatility: Evidence from Multivariate Linear and Nonlinear Causality Tests

2019 ◽  
Vol 11 (2) ◽  
pp. 351 ◽  
Author(s):  
Riza Demirer ◽  
Rangan Gupta ◽  
Zhihui Lv ◽  
Wing-Keung Wong
Keyword(s):  
Stock Market ◽  
The State ◽  
Market Volatility ◽  
Stock Market Volatility ◽  
Excess Returns ◽  
State Of The Economy ◽  
Causality Tests ◽  
Business Conditions ◽  
High Level ◽  
Return Dynamics

We employ bivariate and multivariate nonlinear causality tests to document causality from equity return dispersion to stock market volatility and excess returns, even after controlling for the state of the economy. Expansionary (contractionary) market states are associated with a low (high) level of equity return dispersion, indicating asymmetries in the relationship between return dispersion and economic conditions. Our findings indicate that both return dispersion and business conditions are valid joint forecasters of stock market volatility and excess returns and that return dispersion possesses incremental information regarding future stock return dynamics beyond that which can be explained by the state of the economy.

Assessing the sustainability of the Siberian Federal District regions

2020 ◽  
Vol 18 (5) ◽  
pp. 891-908
Author(s):  
T.A. Smirnova
Keyword(s):  
Sustainable Development ◽  
Environmental Factors ◽  
Regional Development ◽  
Federal District ◽  
Integrated Approach ◽  
Siberian Federal District ◽  
The Sustainable Development ◽  
The Impact ◽  
Empirical Analyses

Subject. This article deals with the issues of functioning of the region as a system. Objectives. The article aims to identify the problems of the region's functioning as a system, develop methodological tools to monitor the sustainable development of the Siberian Federal District territories, and determine the the impact of socio-economic and environmental factors on the sustainable development of the region as a whole. Methods. For the study, I used the methods of theoretical, statistical, and empirical analyses taking into account an integrated approach. Results. The article reveals the impact of some individual components of regional development on the sustainability of the territorial system as a whole. Relevance. The results of the study can be used to analyze the sustainability of regions' development.

The Determinants of Entrepreneurship Development in Spatial Systems

2017 ◽  
Vol 13 ◽  
pp. 8-24
Author(s):  
Zbigniew Zioło
Keyword(s):  
Spatial Scales ◽  
Institutional Barriers ◽  
Entrepreneurship Development ◽  
Continental Scale ◽  
Spatial Systems ◽  
Business Conditions ◽  
Mutual Relations ◽  
Growth Shape ◽  
Strategic Goal

The processes of technological  progress create new opportunities for economic, social and cultural growth, shape new relations between economic  entities and their environment,  and influence changes in the determinants  of entrepreneurship development.  These processes vary significantly in certain geographic locations, characterised by an enormous  diversity of natural, social, economic and cultural structures. As a consequence, this creates different opportunities  and different conditions for the development of entrepreneurship in certain spatial scales, from the continental scale, through national and regional to local scales. The article presents complex conditions  for the development of entrepreneurship, highlights its limitations resulting from institutional  barriers, and the importance of knowing the mechanisms of mutual relations between spatial systems and the influence of control instruments. The quality of central and local government authorities is of particular significance here, which do not always properly use the mechanisms of rational business support. A serious barrier to the development of entrepreneurship is the low quality of social capital, manifested in a lack of trust in institutional authorities and reluctance to engage in entrepreneurship and business development. The conclusions point out that further research should be developed that will take into account changing business conditions, with a defined strategic goal of raising the quality and standard of living, international competitiveness of the country and products in different market categories.

Future Excess Returns to High R&D Firms and Firm Size

2008 ◽  
Author(s):  
Mustafa Ciftci ◽  
Theodore Sougiannis
Keyword(s):  
Firm Size ◽  
Excess Returns
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