How can we Engineer Stock Markets like NSEIL with BSE SENSEX index data using String Theory

This paper considers the problem of sustainably developing stock exchanges like NSEIL and measurable index systems like BSE SENSEX by developing strategies to achieve sales volume which achieve optimal growth rates. Experimental data on BSE SENSEX and Companies over time are used which closely mimics now active NSEIL. This requires consideration of consumer choice in intertemporal markets with endogenous stock market products. A sequence of five steps is derived to characterize the venturing technology which will achieve such desired stock market sales volume with fixed prices and hence the optimal growth rate. It is derived how String Theory is sufficient to build such stock markets in value and volumes by using depositories.

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Influence of world stock markets on the development of the stock market in Ukraine

Investment Management and Financial Innovations ◽

10.21511/imfi.18(4).2021.20 ◽

2021 ◽

Vol 18 (4) ◽

pp. 223-240

Author(s):

Inna Shkolnyk ◽

Serhiy Frolov ◽

Volodymyr Orlov ◽

Viktoriia Dziuba ◽

Yevgen Balatskyi

Keyword(s):

Stock Market ◽

Stock Markets ◽

Mutual Influence ◽

Stock Exchanges ◽

World Federation ◽

Pairwise Correlation ◽

Stock Market Performance ◽

The Us ◽

The World ◽

Global Stock Markets

Viewing the development of the stock market in Ukraine, the economy, which world financial organizations characterize as small and open, is largely determined by the trends formed by the global stock markets and leading stock exchanges. Therefore, the study aims to analyze Ukraine’s stock market, the world stock market, stock markets in the regions, and to assess their mutual influence. The study uses the data of the World Federation of Exchanges and National Securities and Stock Market Commission (Ukraine) from 2015 to 2020. Stock market performance forecasts are built using triple exponential smoothing. Based on pairwise correlation coefficients, the existence of a significant dependence in the development of the world stock market on the development of the American stock market was determined. Regarding the Ukrainian stock exchanges, only SE “PFTS” demonstrated its dependence on the US stock market. The results of the regression model based on an exponentially smoothed series of trading volumes in all markets showed that variations in the volume of trading on the world stock market are due to the situation on the US stock markets. Trading volume dynamics on Ukrainian stock exchanges such as SE “PFTS” and SE “Perspektiva” is almost 50% determined by the development of stock markets in the American region. Although Ukraine is geographically located in Europe, the results show a lack of significant links and the impacts of stock markets in this region on the major Ukrainian stock exchanges and the stock market as a whole.

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Integration of Ukraine into European Union securities market

Galic'kij ekonomičnij visnik ◽

10.33108/galicianvisnyk_tntu2021.02.168 ◽

2021 ◽

Vol 69 (2) ◽

pp. 168-178

Author(s):

M. Savchenko

Keyword(s):

European Union ◽

Stock Market ◽

Stock Markets ◽

Rapid Development ◽

Legal Regulation ◽

Securities Market ◽

Stock Exchanges ◽

The European Union ◽

Eu Countries ◽

The Eu

The paper deals with the main parameters of the Ukrainian securities market at the current stage, identifies its functioning problems, gives a set of measures for the effective implementation of Ukraine's desire to integrate the national stock market into the European Union. Compared with the stock markets of the EU countries, the domestic securities market is underdeveloped, poorly regulated and illiquid, therefore there is the need to develop it and implement the European legislative initiatives. The paper covers the basic laws in the field of legal regulation of the Ukrainian and EU securities market. The investigation includes the results of the research of the current experience in leading European countries in terms of capitalization of the largest stock exchanges in Europe. The classification of 5 largest European stock exchanges is given and the influence of COVID-19 virus on their activity is analyzed. The main trends in the field of securities investment market of the largest stock exchanges in Europe and Ukraine are led. While examining statistical data concerning the capitalization of European stock exchanges in comparison with the PFTS of Ukraine in 2019, the LSE (London Stock Exchange) ranks 1st with €3.86 bn., 2nd place is taken by Euronext – €3.4 bn., 3rd place by Deutsche Börse having capitalization volume at the level of €1.9 bn., and PFTS Ukraine – €0.17 bn., which indicates that Ukrainian securities market is insufficiently elaborated. Nowadays, the Ukrainian securities market repeats European historical development trends, and at this stage it largely depends on the directions of development that international stock markets can take. Changes in European securities markets are extremely rapid and require competent response from regulatory structures. The rapid development of the European stock market, accompanied by the emergence of advanced technologies in the field of securities and new financial instruments, make it necessary to monitor all the changes and innovations that happen in the Ukrainian securities market in order to develop more effective recommendations for improving its functioning and regulation. In addition, integration with the European Union requires deeper and more radical reforms of the domestic state administration, macroeconomic regulation, property relations, and anti-corruption policy. Only a large-scale and complete reform will enable progressive renewal and effective, socially responsible integration into the EU countries, taking into account national interests.

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Lessons for Euro markets from the first wave of COVID-19

Investment Management and Financial Innovations ◽

10.21511/imfi.18(1).2021.24 ◽

2021 ◽

Vol 18 (1) ◽

pp. 285-298

Author(s):

Costas Siriopoulos ◽

Argyro Svingou ◽

Jagadish Dandu

Keyword(s):

Stock Market ◽

Stock Markets ◽

Impulse Response Function ◽

Decomposition Methods ◽

Var Model ◽

Stock Exchanges ◽

Panel Var ◽

Chinese Stock Market ◽

European Stock Markets ◽

The Impact

Although the coronavirus pandemic hit Europe in the early days of 2020, European stock markets had signaled fluctuations in the days before. This paper assesses the observed volatility on European stock exchanges and searches for its sources during the first four months of 2020. To investigate the issue, a panel VAR model is adopted, and the generalized impulse response function and the variance decomposition methods are used. The estimations show that about 34% of the volatility in European stock markets is due to the Chinese stock market, while 7% is due to international uncertainty, as measured by VIX. The impact of pandemic cases and deaths on European stock markets is negligible, below 1%. This means that the European stock market faced two risk elements: the first is the transmission volatility from the Chinese stock market, and the second is the international uncertainty. The findings also support the view that COVID-19 is more like a systematic risk.

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Inter-relationship between performance of Bursa Malaysia and foreign stock markets

Social and Management Research Journal ◽

10.24191/smrj.v3i1.5107 ◽

2006 ◽

Vol 3 (1) ◽

pp. 113

Author(s):

T. Chantrathevi P. Thuraisingam ◽

You Hoo Tew ◽

Dalila Daud

Keyword(s):

Stock Market ◽

Stock Markets ◽

Stock Exchange ◽

Composite Index ◽

Asian Financial Crisis ◽

Moderate Correlation ◽

Crisis Period ◽

Dow Jones Industrial Average ◽

Daily Returns ◽

Over Time

This paper explores the general perception that the Malaysian stock market is influenced by leading overseas stock markets. Employing correlation analysis comparison was made between the performance ofBiirsa Malaysia's Composite Index and six stock market indices namely Straits Times Index, Hang Seng Index, Nikkei 225 Stock Average, Australia All Ordinaries Index, Dow Jones Industrial Average Index and Financial Times 100 Index. This study also seeks to determine ifthere is any significant stability ofcorrelations over time. These indices were studied over a period offifteen years from I January 1990 to 31 December 2004, beginning with the cessation oftrading ofMalaysian shares on the Singapore stock exchange, which is synonymous with the pre-Asian financial crisis period, the crisis period and a post crisis period of almost five years. The study found that the, daily returns of the Composite Index over the period is positively co-related with the foreign indices indicating that the markets were moving in the same direction, in other words there is interdependency between the stock markets. However, the low to moderate correlation refutes the belief that the Malaysian stock market is influenced by the performance ofthe major stock markets. The study also found that generally the correlations are unstable over lime.

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Volatility of Indian Stock Market: An Emperical Evidence

Asia Pacific Business Review ◽

10.1177/097324700800400405 ◽

2008 ◽

Vol 4 (4) ◽

pp. 53-61 ◽

Cited By ~ 1

Author(s):

Aman Srivastava

Keyword(s):

Stock Market ◽

Stock Markets ◽

Stock Exchange ◽

Stock Exchanges ◽

Garch Models ◽

Indian Stock Market ◽

Class Models

The purpose of this paper is to apply the GARCH-class models to two major stock exchanges of Indian stock markets. The study includes main indices of Bombay Stock Exchange (SENSEX) and that of National stock exchange (NIFTY). GARCH-class models have been applied to analyze the characteristics of the volatility of Indian stock market. The findings suggest that both the Indian stock exchanges have significant ARCH effects and it is appropriate to use ARCH/GARCH models to estimate the process and also demonstrated that there are leverage effects in the markets. That means the investors in those markets are not grown well and they will be heavily influenced by information (good or bad) very easily.

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China-Concept Factor and Stock Returns in Taiwan

Review of Pacific Basin Financial Markets and Policies ◽

10.1142/s0219091508001283 ◽

2008 ◽

Vol 11 (01) ◽

pp. 99-122 ◽

Cited By ~ 1

Author(s):

Chau-Chen Yang ◽

Cheng-Few Lee ◽

Yi-Jung Chen ◽

Ling Hu

Keyword(s):

Stock Market ◽

Stock Returns ◽

Stock Markets ◽

Financial Constraints ◽

Listed Firms ◽

Common Variation ◽

Common Shocks ◽

Over Time

This study investigates whether there is a "China-concept factor", a common variation of stock returns, for firms that are listed in Taiwan stock markets and have real investments in China. We employ a methodology similar to that used by Lamont et al. (2001) in examining whether there is a financial-constraints factor. Listed firms in Taiwan stock markets for the period 1990–2004 are used to form portfolios of firms based on observable characteristics related to their real investments in China. We find that firms investing heavily in China have stock returns moving together over time, which suggests that firms investing in China are subject to common shocks. Firms investing heavily in China are found to exhibit higher average stock returns. There exists a China-concept factor for firms listed in Taiwan stock market and have real investments in China.

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An Inquiry into the Persistence of Holiday Effect on Stock Markets in India: Insights and Perspectives on a Seasonal Anomaly

FIIB Business Review ◽

10.1177/23197145211016894 ◽

2021 ◽

pp. 231971452110168

Author(s):

Meher Shiva Tadepalli ◽

Ravi Kumar Jain ◽

Bhimaraya Metri

Keyword(s):

Stock Market ◽

Stock Markets ◽

Stock Exchange ◽

Abnormal Returns ◽

Stock Exchanges ◽

Indian Market ◽

Pricing Models ◽

Market Anomalies ◽

Holiday Effect ◽

Stock Market Efficiency

Asset pricing is a key area of literature in analysing and evaluating the stock market efficiency. Though various pricing models made efforts to explain the behaviour of the stocks, the existence of seasonal anomalies in the stock markets creates an opportunity for the investors to generate abnormal returns. The present article emphasizes one of such market anomalies namely, the holiday effect using indices belonging to Indian stock exchanges. Thorough research is performed by including all the prime market-capital and sectoral indices of the National Stock Exchange and the Bombay Stock Exchange. The ARIMAX methodology is adopted to observe the anomaly by considering exogenous variables representing the trading days before the exchange-mandated holidays. Further, the strength of the anomaly is analysed with the incorporation of various stock market reforms and observed to be significantly persistent among most of the Indian market indices (including both the sectoral and the market-capital based indices).

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Methodological Foundations of the Risk of the Stock Markets of Developed and Developing Countries in the Conditions of the Crisis

Journal of Risk and Financial Management ◽

10.3390/jrfm15010003 ◽

2021 ◽

Vol 15 (1) ◽

pp. 3

Author(s):

Diana Burkaltseva ◽

Shakizada Niyazbekova ◽

Lyudmila Borsch ◽

Mir Abdul Kayum Jallal ◽

Nataliya Apatova ◽

...

Keyword(s):

Developing Countries ◽

Economic Development ◽

Stock Market ◽

Stock Markets ◽

Regulatory System ◽

Digital Technologies ◽

The State ◽

Stock Exchanges ◽

Real Sector ◽

The Real

The development of a methodology for the growth of the stock market through a deep transformation of the economic development system and introduction of digital technologies. The article is devoted to the study of the development of stock markets’ actual problems that affect the redistribution of capital between sectors of the economy by using tools and mechanisms between the financial and stock markets. The purpose of the study is to improve the regulatory segment of the stock market in order to further develop stock exchanges, integrate them into the global economic system, and attract investment in the economy. To achieve the goal, the following tasks were performed: the development of the London Stock Exchange was analyzed and the profit growth was determined; a comparative capitalization of the main stock instruments was carried out; internal factors of influence on the stock market were determined. The problem of the international stock market in all countries with emerging markets, first of all, lies in the improvement of the institutional environment, which is a prerequisite for the stability of the stock market. To analyze the development of stock markets, natural technical sciences were used to identify objective patterns, and determine the state and motives, using various methods and techniques: logic, generalizations, specific methods of cognition, comparison, and graphics. In the development of the stock market, the economy establishes certain natural actions in the real sector of the economy through a regulatory system of measures, and the needs of investments in the real sector of the economy, methods, and tools are used to achieve the desired results. Statistical, analytical, and dynamic methods were used. The essential foundations of the importance of stock markets and the economy are revealed; we discuss the penetration of knowledge and the conduction of a deep transformation through the introduction of digital technologies in all spheres of the economy, including the transformation of the development of the stock and financial markets nowadays. Results. The assessment of the state of securities markets in developed and developing countries is made on the example of the largest stock exchanges in Brazil and the United Kingdom. The features of the effective functioning of stock markets are revealed. The hypothesis is put forward about the insufficiency of research on the stock market of developed and developing countries and the mechanisms used having an insufficient impact on the development of the economy. From this point of view, an analysis of the dynamics of the current state of the issuers’ number and the dynamics of profitability of developed markets is carried out, the comparative capitalization volumes of the stock markets of Great Britain and Brazil are evaluated, and the weaknesses of their functioning are identified. Conclusions. The conducted research shows that countries, where stock markets are successfully functioning and developing, are catalysts for economic development and the accumulation of funds. Each country applies models of stock market development and a strategy for its regulation in accordance with the concept of a functioning market and its maturity.

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The First Balkan War and the St. Petersburg Stock Exchange

OOO Zhurnal Voprosy Istorii ◽

10.31166/voprosyistorii202011statyi20 ◽

2020 ◽

Vol 2020 (11-1) ◽

pp. 40-55

Author(s):

Pavel Lizunov

Keyword(s):

Stock Market ◽

Stock Markets ◽

Stock Exchange ◽

The State ◽

Stock Exchanges ◽

The Balkans ◽

Military Conflicts ◽

State Of Affairs ◽

European Stock Markets

The article shows the reaction of European stock markets and, first of all, the St. Petersburg Stock Exchange to the First Balkan War. Stock market reports demonstrated that stock exchanges were sensitive to any troubling economic, political and military conflicts. Their mood changed depending on hostilities, rumors and false reports about the state of affairs in the Balkans.

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