Optimal Arbitrage Strategies in Presence of Market Impacts

2007 ◽  
Author(s):  
Valdo Durrleman ◽  
Serge Lhermitte
Keyword(s):  
Market Impacts ◽  
Optimal Arbitrage

scholarly journals Is Establishing a New Partnership Useful Information for Investors in the Smartphone Supply Market?

2021 ◽  
Vol 13 (10) ◽  
pp. 5573
Author(s):  
Insung Son ◽  
Sihyun Kim
Keyword(s):  
South Korea ◽  
Stock Price ◽  
Individual Investors ◽  
Trading Patterns ◽  
Market Impacts ◽  
The Us ◽  
Signaling Effect ◽  
Parts Suppliers ◽  
Country Specific

This study analyzed partner volatility (new, old, revocation partners) and country-specific signal effects (United States (US), Taiwan, Japan, and South Korea) for Apple iPhone parts suppliers from 2007 to 2018. Mid- to long-term stock price movements were also analyzed to define trading patterns by investor type. The results using logit regression analysis revealed that new partners and revocation partners each have a signaling effect perceived as positive and negative information in the short term, and the excess returns by country showed a positive signaling effect in the order of the US, Taiwan, South Korea, and Japan. The findings also suggest that the change in the new partners’ stock price after the preannouncement of new products was useful investment information. Moreover, information asymmetry was found between individual investors, institutions, and foreigners. Results indicate that new partner selection in the smartphone market impacts corporate value and serves as useful investment information.

scholarly journals Immigration, Wages and Employment under Informal Labor Markets

2021 ◽  
Author(s):  
Lukas Delgado-Prieto
Keyword(s):  
Labor Markets ◽  
Formal Sector ◽  
Informal Workers ◽  
Informal Labor ◽  
Wage Effect ◽  
Wage Effects ◽  
Market Impacts ◽  
Negative Effect ◽  
Informal Labor Markets ◽  
High Degree

This paper studies the labor market impacts of a massive inflow of Venezuelans in Colombia. By comparing areas that received different shares of migrants, I find a negative effect on wages and on local employment for natives. The negative wage effect is driven by a large drop of wages in the informal sector, where migrants are mostly employed, while the negative employment effect is driven by a reduction of employment in the formal sector, where the minimum wage is binding. To explain these results, I develop a model in which firms hire formal and informal workers with different costs. If these workers have a high degree of substitutability, and wages for formal workers are rigid, firms reallocate formal to informal employment as a response to lower informal wages. In settings with informal labor markets migration can therefore lead to asymmetric employment and wage effects across the informal and formal sectors.

scholarly journals Give Me Your Tired and Your Poor: Impact of a Large-Scale Amnesty Program for Undocumented Refugees

2020 ◽  
Author(s):  
Dany Bahar ◽  
Ana María Ibáñez ◽  
Sandra Rozo
Keyword(s):  
Large Scale ◽  
Time Windows ◽  
Undocumented Migrants ◽  
Humanitarian Crisis ◽  
Highly Educated ◽  
Market Impacts ◽  
Before And After ◽  
Formal Employment ◽  
Migratory Status ◽  
Roll Out

Between 2014 and 2020 over 1.8 million refugees fled from Venezuela to Colombia as a result of a humanitarian crisis, many of them without a regular migratory status. We study the short- to medium-term labor market impacts in Colombia of the Permiso Temporal de Permanencia program, the largest migratory amnesty program offered to undocumented migrants in a developing country in modern history. The program granted regular migratory status and work permits to nearly half a million undocumented Venezuelan migrants in Colombia in August 2018. To identify the effects of the program, we match confidential administrative data on the location of undocumented migrants with department-monthly data from household surveys and compare labor outcomes in departments that were granted different average time windows to register for the amnesty online, before and after the program roll-out. We are only able to distinguish negative albeit negligible effects of the program on the formal employment of Colombian workers. These effects are predominantly concentrated in highly educated and in female workers.

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