scholarly journals Financial markets diffusion patterns. The case of Mexican investment funds

Equilibrium ◽  
2017 ◽  
Vol 12 (1) ◽  
pp. 83 ◽  
Author(s):  
Adam Marszk ◽  
Ewa Lechman ◽  
Harleen Kaur
Keyword(s):  
Financial Markets ◽  
Mutual Funds ◽  
Market Share ◽  
Growth Models ◽  
Market Development ◽  
Logistic Growth ◽  
Logistic Curve ◽  
Investment Funds ◽  
Development Patterns ◽  
Innovation Diffusion Models

Research background: Exchange traded funds (ETFs) are one of the most influential financial innovations, reshaping the investment funds market in many countries, including Mexico. Due to their similar investment objectives, ETFs are considered substitutes for mutual funds. Purpose of the article: The aim of the article is to provide an indepth insight into the issues associated with the development of financial markets in Mexico over the period 2002-2012, putting special emphasis on the development patterns of ETFs. Methods: First we use descriptive statistics to unveil basic changes and trends in the Mexican investment funds (ETFs and mutual funds). Then we use a category of the innovation diffusion models, i.e. logistic growth models, in order to explore the key development patterns. Data sources and methodological framework are presented in the second section of the article, with a detailed description of the innovation diffusion models applied in the research (based on 3-parametric logistic curve). The sum of assets under management of ETFs and mutual funds is considered as the size of the total investment funds market. Findings and Value added: Empirical findings indicate a significant development of the ETF market, both in terms of assets under management and market share. According to the presented estimations, Mexican ETF market development can be described with the logistic growth models, and three characteristic phases of the logistic curve were clearly observable. The predicted ETF market development patterns point towards a further increase of the market share of ETFs over the next 3-5 years, yet the probability of exceeding the level of ca. 20-30% seems low.

Uncharted waters: Investors get access to foreign exchange-traded funds

2021 ◽  
pp. 54-70
Author(s):  
S. R. Moiseev
Keyword(s):  
Financial Markets ◽  
Foreign Exchange ◽  
Driving Forces ◽  
Market Competition ◽  
Secondary Market ◽  
Portfolio Diversification ◽  
Exchange Traded Funds ◽  
Investment Funds ◽  
Retail Investors ◽  
Securities Trading

In 2022, Russian investors will get access to the wide possibilities of the global financial market. The Bank of Russia opens the market for foreign exchange-traded funds (ETFs) — one of the main savings instruments for households. The economy of ETFs differs from other investment funds, whose shares do not have secondary market. The opening of the ETFs market is intended to solve a number of issues for retail investors: moving away from the preference to individual foreign shares towards portfolio diversification, cost reduction, ensuring sustainable profitability, abandoning the aggressive securities trading, and supporting market competition. Soon, ETFs will be one of the driving forces in financial markets. However, their rapid growth is fraught with little-studied effects.

scholarly journals The shape of density dependence and the relationship between population growth, intraspecific competition and equilibrium population density

2018 ◽  
Author(s):  
Emanuel A. Fronhofer ◽  
Lynn Govaert ◽  
Mary I. O’Connor ◽  
Sebastian J. Schreiber ◽  
Florian Altermatt
Keyword(s):  
Population Growth ◽  
Growth Models ◽  
Population Level ◽  
Logistic Growth ◽  
Population Densities ◽  
Density Regulation ◽  
Logistic Growth Model ◽  
Regulation Functions ◽  
Consumer Resource ◽  
Population Growth Models

AbstractThe logistic growth model is one of the most frequently used formalizations of density dependence affecting population growth, persistence and evolution. Ecological and evolutionary theory and applications to understand population change over time often include this model. However, the assumptions and limitations of this popular model are often not well appreciated.Here, we briefly review past use of the logistic growth model and highlight limitations by deriving population growth models from underlying consumer-resource dynamics. We show that the logistic equation likely is not applicable to many biological systems. Rather, density-regulation functions are usually non-linear and may exhibit convex or both concave and convex curvatures depending on the biology of resources and consumers. In simple cases, the dynamics can be fully described by the continuous-time Beverton-Holt model. More complex consumer dynamics show similarities to a Maynard Smith-Slatkin model.Importantly, we show how population-level parameters, such as intrinsic rates of increase and equilibrium population densities are not independent, as often assumed. Rather, they are functions of the same underlying parameters. The commonly assumed positive relationship between equilibrium population density and competitive ability is typically invalid. As a solution, we propose simple and general relationships between intrinsic rates of increase and equilibrium population densities that capture the essence of different consumer-resource systems.Relating population level models to underlying mechanisms allows us to discuss applications to evolutionary outcomes and how these models depend on environmental conditions, like temperature via metabolic scaling. Finally, we use time-series from microbial food chains to fit population growth models and validate theoretical predictions.Our results show that density-regulation functions need to be chosen carefully as their shapes will depend on the study system’s biology. Importantly, we provide a mechanistic understanding of relationships between model parameters, which has implications for theory and for formulating biologically sound and empirically testable predictions.

scholarly journals Building reaction kinetic models for amiloid fibril growth

BIOMATH ◽  
2016 ◽  
Vol 5 (1) ◽  
pp. 1607311 ◽  
Author(s):  
Svetoslav Marinov Markov
Keyword(s):  
Computer Algebra ◽  
Computer Algebra System ◽  
Reaction Kinetic ◽  
Growth Models ◽  
Reaction Network ◽  
Network Models ◽  
Point Of View ◽  
Logistic Growth ◽  
Sigmoidal Functions ◽  
Methodological Aspects

In this work we  discuss some methodological aspects of the creation and formulation of mathematical  models describing the growth of species from the point of view of reaction kinetics. Our discussion is based on familiar examples of growth models such as logistic growth and enzyme kinetics. We   propose several reaction network  models  for  the amiloid fibrillation processes in the citoplasm. The solutions of the models are sigmoidal functions graphically visualized using  the computer algebra system   Mathematica.

INVESTIGATING MEDIA AND COMMUNICATION CHANNEL SEARCH BEHAVIOUR OF RETAIL INVESTORS FOR INVESTMENT DECISION IN EMERGING FINANCIAL MARKETS

2021 ◽  
Vol 14 (8) ◽  
pp. 34-45
Author(s):  
Atul Shiva ◽  
Monica Sethi ◽  
Diksha Ahuja ◽  
Kritika Sharma
Keyword(s):  
Financial Markets ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Word Of Mouth ◽  
Investment Decision ◽  
Search Behaviour ◽  
Financial Advice ◽  
Effective Manner ◽  
First Choice ◽  
Word Of Mouth Communication

The purpose of this study aims at investigating the major sources of information which drives the investor’s behaviour in investment decisions in Indian Financial Markets. Diverse sources are classified into three categories, that is, financial advice, word-of-mouth communication and specialised press to investigate their effects on the investment behaviour of investors. A total of 258 investors filled a survey on a questionnaire in the National Capital Region of India by using the purposive sampling method. For analysis of data, PLS-SEM was applied on the software version 3.2.9. The key outcome of the study revealed that financial advice was considered as first choice (β = 0.265, p<0.000) to build their investment decision primarily on weekly basis followed by word-of-mouth communication (β = 0.154, p<0.05). Lastly, the mutual fund investors prefer financial newspapers and financial reports published by mutual fund regulatory body and their companies in India to do mutual funds investment. This study proposed a conceptual model in the literature of information search behaviour for mutual funds and contributes significantly to the mutual fund companies and investment agencies to market financial products in an effective manner for investors.

scholarly journals The Role of Political Risk and Financial Development Factors on Sukuk Market Development of Gulf Cooperation Council (GCC) Countries

2018 ◽  
Vol 10 (1) ◽  
pp. 242
Author(s):  
Arafat Mansoor Al-raeai ◽  
Zairy Zainol ◽  
Ahmad Khilmy Abdul Rahim
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Financial Management ◽  
Political Risk ◽  
Gulf Cooperation Council ◽  
Market Development ◽  
Model Framework ◽  
Alternative Source ◽  
Gcc Countries

The literature related to the financial management acknowledges the significant role that political risk play to determine the financial market development. Further, financial system development (banking and financial markets) competes to provide long-term financing, and this competition might be positive or negative for each other. The aim of this paper is to propose a conceptual model/framework for investigating the role of political risk and financial market on Sukuk market development in Gulf Cooperation Council (GCC). GCC economies depend heavily on oil revenues which makes them subject to oil prices fluctuations. Therefore, GCC’s governments should diversify their economies by looking for Sukuk as an alternative source of financing, to cover their budget deficit, when the price of oil decreases, and reduce their reliance on oil, because Sukuk has advantages compared to the conventional bond particularly in terms of less information asymmetry. The prior studies have mostly focused on firms' characteristics determinants of Sukuk issuances but gave a little consideration to the role of country' characteristics on Sukuk market development. This paper proposes a framework to explain the political risk and financial markets determinants of Sukuk market development with a focus on the GCC countries that have the largest region in terms of the Islamic financial assets. It is anticipated that the outcome will support policymakers to improve the current state of Sukuk market.

scholarly journals On the Asymmetries of Sovereign Credit Rating Announcements and Financial Market Development in the European Region

2019 ◽  
Vol 11 (23) ◽  
pp. 6636 ◽  
Author(s):  
Chunling Li ◽  
Khansa Pervaiz ◽  
Muhammad Asif Khan ◽  
Faheem Ur Rehman ◽  
Judit Oláh
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Credit Rating ◽  
Market Development ◽  
European Region ◽  
Short Term ◽  
Sovereign Credit ◽  
Financial Market Development ◽  
The Impact ◽  
Sovereign Credit Rating

In modeling the impact of sovereign credit rating (CR) on financial markets, a considerable amount of the literature to date has been devoted to examining the short-term impact of CR on financial markets via an event-study methodology. The argument has been established that financial markets are sensitive to CR announcements, and market reactions to such announcements (both upgrading and degrading) are not the same. Using the framework of an autoregressive distributed lag setting, the present study attempted to empirically test the linear and non-linear impacts of CR on financial market development (FMD) in the European region. Nonlinear specification is capable to capture asymmetries (upgrades and downgrades) in the estimation process, which have not been considered to date in financial market literature. Overall findings identified long-term asymmetries, while there was little evidence supporting the existence of short-term asymmetries. Thus, the present study has extended the financial market literature on the subject of the asymmetrical impact of a sovereign CR on European FMD and provides useful input for policy formation taking into account these nonlinearities. Policies solely based upon linear models may be misleading and detrimental.

scholarly journals Corporate Social Responsibility Strategies of Spanish Listed Firms and Controlling Shareholders’ Representatives

2017 ◽  
Vol 31 (4) ◽  
pp. 339-359 ◽  
Author(s):  
María Consuelo Pucheta-Martínez ◽  
Blanca López-Zamora
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Mutual Funds ◽  
Legal Protection ◽  
Pension Funds ◽  
Insurance Companies ◽  
Investment Funds ◽  
Controlling Shareholders ◽  
Csr Strategies ◽  
Corporate Social

This article aims at analyzing how controlling shareholders’ representatives on boards affect corporate social responsibility (CSR) strategies (disclosing CSR matters) in Spain, a context characterized by high ownership concentration, one-tier boards, little board independence, weak legal protection for investors, and the presence of large shareholders, especially institutional shareholders. Furthermore, among controlling shareholders’ representatives, we can distinguish between those appointed by insurance companies and banks and those appointed by mutual funds, investment funds, and pension funds. The effect of these categories of directors on CSR strategies is, therefore, also analyzed. Our findings suggest that controlling shareholders’ representatives have a positive effect on CSR strategies, as do directors appointed by investment funds, pension funds, and mutual funds, while directors appointed by banks and insurance companies have no impact on CSR strategies. This analysis offers new insights into the role played by certain types of directors on CSR strategies.

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