Evidence on the Time Series Properties of Insurance Premiums and Causes of the Underwriting Cycle: New Support for the Capital Market Imperfection Hypothesis

1993 ◽  
Vol 60 (3) ◽  
pp. 466 ◽  
Author(s):  
Greg Niehaus ◽  
Andy Terry
Keyword(s):  
Time Series ◽  
Capital Market ◽  
Market Imperfection ◽  
Insurance Premiums ◽  
Underwriting Cycle ◽  
Capital Market Imperfection ◽  
The Capital Market

Redistribution Policies under Capital Market Imperfection

2002 ◽  
Vol 53 (1) ◽  
pp. 94-113
Author(s):  
Masaya Sakuragawa ◽  
Sakae Mitsui
Keyword(s):  
Capital Market ◽  
Market Imperfection ◽  
Capital Market Imperfection

Efficient Market Hypothesis in the Capital Market of a Small Transition Economy - Does It Hold?

2005 ◽  
Vol 55 (4) ◽  
pp. 427-452
Author(s):  
Timotej Jagric ◽  
Sebastjan Strasek
Keyword(s):  
Time Series ◽  
Long Range ◽  
Capital Market ◽  
Hurst Exponent ◽  
Transition Economy ◽  
Efficient Market Hypothesis ◽  
Long Range Dependence ◽  
Sample Period ◽  
Efficient Market ◽  
The Capital Market

A wavelet analysis of long-range dependence based on the Hurst exponent is presented in this paper. Numerical comparisons are made against traditional estimators of the exponent based on R/S analysis. The estimator is used to perform an analysis of the long-range dependence in the capital market of a small transition economy (Slovenia). Results of the study suggest that the efficient market hypothesis may not hold for the observed capital market. Furthermore, results also suggest that the estimation of the exponent is sensitive to the frequencies of the data employed and to the sample period. Additionally, the format of the time series has an important impact on the results.

Institutional Investors on the Securities Market

2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz
Keyword(s):  
Financial Crisis ◽  
Capital Market ◽  
Hedge Funds ◽  
Institutional Investors ◽  
Securities Market ◽  
Main Role ◽  
Investment Funds ◽  
Investment Process ◽  
The Capital Market

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

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