Algorithmic Methods of Hidden Communication Through Buy Orders and Sales on International Stock Exchanges

2021 ◽  
Author(s):  
Arkadiusz Liber
Keyword(s):  
Stock Prices ◽  
Instant Messaging ◽  
Stock Exchanges ◽  
Order Method ◽  
Discussion Forums ◽  
Research Software ◽  
Table Method ◽  
Long Time ◽  
Stock Transaction ◽  
Global Exchange

This paper presents the results of the author’s research on the design of hidden communication algorithms employed in the context of global exchange services. The solutions proposed enable communication between trading participants without use of such traditional communication routes as email, telephone, instant messaging, discussion forums, etc. The solutions described are based on modification of entries in the exchange tables of orders and transactions. Through modification of the entries associated with share buy and sell orders, a secret channel can be constructed through which hidden messages can be sent. Such messages could, for example, be used to manipulate stock prices by an organized group of people. The proposed solutions can classified as steganographic methods where the message carrier is a stock transaction or stock order table, in which a message is embedded by means of algorithmic modification of buy and sell records. Also presented are specific proposals for static, dynamic, and mixed static-dynamic solutions based on the results of the author’s research. In the static methods group, an imperceptible communication channel is formed through a series of asynchronous modifications that create a complete, readable message that is present for a relatively long time. In dynamic methods, the embedded message is synchronized in time and creates a sequence of events that create statements. The third group of methods presented, mixed methods, use static and dynamic techniques to construct hidden messages. In particular, the method of extreme orders (MEO), mono-table method (MTM), multi-table method (MUTM), method of price-indexed vectors (MPIV), method of quantity-indexed vectors (MQIV), clustered order method (COM), distributed order method (DOM), position-encoded method (PEM), method with quantity coding (MQC), method with error correction (MEC), method limited to buy orders (MLBO), method limited to sell orders (MLSO), and self-synchronizing method (SSM) are presented. The solutions presented in this work can be applied practically in any publicly available stock trading system in which order tables are available. The algorithms presented in the paper were implemented and verified on a real trading service, and the research software used was implemented based on the API provided by the brokerage office.

Perbandingan harga saham, volume transaksi dan return saham sebelum dan sesudah terjadi pandemi covid-19 pada PT Agung Podomoro Land, Tbk

2021 ◽  
Vol 5 (4) ◽  
pp. 720
Author(s):  
Anggun Putri Romadhina ◽  
Eka Kusuma Dewi
Keyword(s):  
Stock Returns ◽  
Stock Prices ◽  
Stock Price ◽  
Research Data ◽  
Paired Sample ◽  
First Case ◽  
Significant Difference ◽  
Before And After ◽  
Stock Transaction

The first Covid-19 case in Indonesia was announced on March 2, 2020. This study aims to determine whether there is a significant difference in stock prices, stock transaction volume and stock returns due to the COVID-19 pandemic (case study at PT. Agung Podomoro Land, Tbk). This research data was taken 90 days before and 90 days after the announcement of the first case of COVID-19 in Indonesia. The data was processed by paired sample t-test, using SPSS version 20. From the results of data processing, it was shown that there was a significant difference in stock prices before and after the announcement of the first case of covid-19 in Indonesia. This is indicated by a significance value of 0.000 < 0.05 where the stock price has decreased compared to before the Covid-19 case. Meanwhile, the volume of stock transactions also showed a significant difference with a significance value of 0.007 <0.05, where the volume of stock transactions after the announcement showed a decrease. Likewise, stock returns show a significant difference with a significance value of 0.025 < 0.05 where stock returns have decreased after the announcement of the first case of covid-10 in Indonesia.  

Transformations of Self-Regulation and New Public Regulations in the Field of Swiss Corporate Governance (1985-2002)

2007 ◽  
Vol 3 (2) ◽  
Author(s):  
Andre Mach ◽  
Gerhard Schnyder ◽  
Thomas David ◽  
Martin Lupold
Keyword(s):  
Corporate Governance ◽  
Self Regulation ◽  
Legal Framework ◽  
Stock Exchanges ◽  
Private Governance ◽  
Proxy Voting ◽  
New Public ◽  
Long Time ◽  
Accounting Rules ◽  
Takeover Bids

Switzerland was for a very long time characterised by a strong tradition of self-regulation by private actors in the economic sphere rather than by an extensive and detailed legal framework. This is particularly true in the field of corporate governance and more precisely visible in the Stock Corporation Law, the supervision of the stock exchanges and accounting rules. Due to very lax legal rules, mechanisms of "private governance" complemented the minimal legal framework in these three fields. Over the last twenty or so years, these mechanisms of self-regulation have nonetheless undergone profound change. In fact, private self-regulation has been incrementally formalised and replaced by more specific public regulations in five important fields: the transferability of shares, proxy-voting by banks, takeover bids, supervision of the stock exchanges and accounting rules. Due to changes in the international context, to the shifting preferences of important economic actors, and to the emergence of new actors (institutional investors and accountants), the legal framework of Swiss corporate governance has been reformed in a significant way.

scholarly journals The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries

2019 ◽  
Vol 22 (3) ◽  
pp. 117-129
Author(s):  
Jana Šimáková ◽  
Nikola Rusková
Keyword(s):  
Exchange Rate ◽  
Pharmaceutical Industry ◽  
Exchange Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchanges ◽  
The Exchange Rate ◽  
Chemical Companies ◽  
The Empirical Analysis

The aim of the paper is to evaluate the effect of exchange rates on the stock prices of companies in the chemical industry listed on the stock exchanges in the Visegrad Four countries. The empirical analysis was performed from September 2003 to June 2016 on companies from the petrochemical and pharmaceutical industry. The effect of the exchange rate on stock prices is analyzed using Jorion’s approach on monthly data. In contrast to the selected petrochemical companies, the pharmaceutical companies did not use any hedging instruments in the tested period. The effect of the exchange rate on the stock price was proved only in the case of companies from the pharmaceutical industry. This suggests that exchange rate risk could be eliminated by using hedging instruments.

A Community Perspective on Research Software in the Hydrological Sciences 

2021 ◽  
Author(s):  
Robert Reinecke ◽  
Tim Trautmann ◽  
Thorsten Wagener ◽  
Katja Schüler
Keyword(s):  
Software Development ◽  
Scientific Progress ◽  
Open Science ◽  
Computer Engineering ◽  
Knowledge Community ◽  
Research Software ◽  
Software Engineering Process ◽  
First Results ◽  
Long Time ◽  
Access To Data

&lt;div&gt; &lt;p&gt;Software development has become an integral part of the earth system sciences as models and data processing get more sophisticated. Paradoxically, it poses a threat to scientific progress as the pillar of science, reproducibility, is seldomly reached. Software code tends to be either poorly written and documented or not shared at all; proper software licenses are rarely attributed. This is especially worrisome as scientific results have potential controversial implications for stakeholders and policymakers and may influence the public opinion for a long time.&amp;#160;&lt;/p&gt; &lt;/div&gt;&lt;div&gt; &lt;p&gt;In recent years, progress towards open science has led to more publishers demanding access to data and source code alongside peer-reviewed manuscripts. Still, recent studies find that results in hydrology can rarely be reproduced.&amp;#160;&lt;/p&gt; &lt;/div&gt;&lt;div&gt; &lt;p&gt;In this talk, we present first results of a poll conducted in spring 2021 among the hydrological science community. Therein, we strive to investigate the causes for that lack of reproducibility. We take a peek behind the curtain and unveil how the community develops and maintains complex code and what that entails for reproducibility. Our survey includes background knowledge, community opinion, and behaviour practices regarding reproducible software development.&amp;#160;&amp;#160;&lt;/p&gt; &lt;/div&gt;&lt;div&gt; &lt;p&gt;We postulate that this lack of reproducibility might be rooted in insufficient reward within the scientific community, insecurity regarding proper licencing of software and other parts of the research compendium as well as scientists&amp;#8217; unawareness about how to make software available in a way that allows for proper attribution of their work. We question putative causes such as unclear guidelines of research institutions or that software has been developed over decades by researchers' cohorts without a proper software engineering process and transparent licensing.&amp;#160;&lt;/p&gt; &lt;/div&gt;&lt;div&gt; &lt;p&gt;To this end, we also summarize solutions like the adaption of modern project management methods from the computer engineering community that will eventually reduce costs while increasing the reproducibility of scientific research.&amp;#160;&lt;/p&gt; &lt;/div&gt;

Analysing “Long Data” on Collective Violence in Indonesia

2015 ◽  
Vol 43 (5) ◽  
pp. 613-633
Author(s):  
David A. Meyer ◽  
Arthur Stein
Keyword(s):  
Time Series ◽  
Stock Prices ◽  
Model Building ◽  
Collective Violence ◽  
Temporal Data ◽  
Data Set ◽  
Time Correlations ◽  
Long Time ◽  
Short Time ◽  
Periodic Components

“Long data”, i.e., temporal data disaggregated to short time intervals to form a long time series, is a particularly interesting type of “big data”. Financial data are often available in this form (e.g., many years of daily stock prices), but until recently long data for other social, and even other economic, processes have been rare. Over the last decade, however, long data have begun to be extracted from (digitized) text, and then used to assess or formulate micro-level and macro-level theories. The UN Support Facility for Indonesian Recovery (UNSFIR) collected a long data set of incidents of collective violence in 14 Indonesian provinces during the 14 year period 1990–2003. In this paper we exploit the “length” of the UNSFIR data by applying several time series analysis methods. These reveal some previously unobserved features of collective violence in Indonesia—including periodic components and long time correlations—with important social/political interpretations and consequences for explanatory model building.

scholarly journals Утицај показатеља пословање компанија на цијене акција на берзама у Босни и Херцеговини // Impact of Business Performance Indicators on Share Prices on Stock Exchanges in Bosnia and Herzegovina

2013 ◽  
Vol 11 (18) ◽  
pp. 253
Author(s):  
Џафер Алибеговић
Keyword(s):  
Bosnia And Herzegovina ◽  
Performance Indicators ◽  
Stock Prices ◽  
Business Performance ◽  
Market Price ◽  
Developed Countries ◽  
Stock Exchanges ◽  
Investment Strategies ◽  
Share Prices ◽  
Long Run

Резиме: Показатељи пословањa компаније који се добију прорачуном коефицијената рацио анализе, једна су од кључних референтних тачака инвестиционе анализе на тржиштима капитала како развијених земаља, тако и земаља са тржиштем капитала у развоју. Директна и позитивна релација показатеља пословања компанија и цијена њихових акција на берзама у овим земљама је доказана, као што је доказана и могућност употребе показатеља пословања за процјену будућег кретања цијена акција и будућих приноса на инвестицију. Насупрот, на берзама у Босни и Херцеговини директне релације између показатеља пословања компанија и тржишних цијена акција нема, те стога показатељи пословања не могу бити кориштени у процјени инвестиција на тржишту капитала, осим у посебним стратегијама и на дуги рок.Summary: Business performance indicators resulting from ratio analysis are one of the key benchmarks of investment analysis on capital markets, both developed countries and countries with emerging markets. Direct and positive relations between business performance and share prices on the stock exchanges of these countries has been demonstrated, along with the possibility of using performance indicators to predict future trends in stock prices and future returns on investment. In contrast, direct relationship between business performance and market price of the shares in the stock market in Bosnia and Herzegovina does not exists, therefore, business performance indicators cannot be used in an appraisal of the investment in the capital market instruments, except in special investment strategies and on the long run.

scholarly journals PENGARUH INFORMASI AKUNTANSI KEUANGAN PERUSAHAAN TERHADAP HARGA SAHAM PADA PERUSAHAAN- PERUSAHAAN INDUSTRI PERDAGANGAN, JASA DAN INVESTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA UNTUK TAHUN 2008 HINGGA 2016

2018 ◽  
Vol 1 (1) ◽  
pp. 26-35
Author(s):  
Dini Onasis
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Financial Statements ◽  
Financial Accounting ◽  
Share Price ◽  
Time Data ◽  
The Public ◽  
Net Profit ◽  
Long Time ◽  
A Company

The purpose of establishing a company is to gain the maximum profit. The next goal is to prosper shareholder value. One of the tools that a company uses to achieve its objectives is financial accounting called Financial statements. The financial statements also indicate what management has done (stewardship), or Management's accountability of the resources entrusted to it. Users of financial statements want to assess what has been done by management or accountability what management does to the resources entrusted to it. Accounting information from the financial statements can describe the condition of the company. In this study examine the market reaction of information received by the public (Investor) on stock prices. If the information presented reports success in performance then the market will respond positively and if the performance fails then the market will respond negatively with the company's stock price decline presented. Researchers examine the influence of information revealed by the company on its Financial Statement to their share price, where the information used as a variable is Stock Price, Net Profit (Net Profit), Liabilities, Capital, Sales, EBT and Size Asset). The data used is a period of 9 years, long time data is to be able to find better results of research than a period of only a few years. The findings of this study, Variable Liabilities have a significant effect on stock prices, Variable Capital has no significant effect on stock prices, Variable Sale significant effect on stock prices, EBT variables have a significant effect on stock prices, Profit variables have no significant effect on stock prices.   Keyword  :  Liabilities, Sale, Capital, EBT, Profit, Stock Price

scholarly journals THE EFFECT OF ALTMAN Z – SCORE FINANCIAL RATIO ON STOCK PRICE (STUDY ON GO PUBLIC PLANTATION SUBSECTOR COMPANIES IN INDONESIA STOCK EXCHANGE)

2020 ◽  
Vol 1 (1) ◽  
pp. 43-55
Author(s):  
Muhammad Fachri Radityatama ◽  
Matrodji H. Mustafa
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
Annual Data ◽  
Z Score ◽  
Financial Ratio ◽  
Panel Data Regression ◽  
Data Regression ◽  
Retained Earnings

This study aims to examine and analyze the effect of the ratio - financial ratios Altman Z-Score on stock prices (study at the plantation subsector company that went public on the stock exchanges of Indonesia). The research data is annual data from 2014 until 2018. The sampling method used was purposive sampling. Of the population of 16 companies in the plantation subsector, 15 companies met the criteria plantation sub-sector into the sample. The analytical method used in this study is panel data regression. The results showed Working Capital to Total Assets (WCTA), Retained Earnings to Total Assets (RETA), Earnings Before Interest and Tax (EBITTA) and Market Value Equity to Book Value of Total Liabilites (MVEBTL) together - the same (simultaneous) effect significant positive stock price

African Languages in Information and Communications Technology

2020 ◽  
pp. 948-957
Author(s):  
Kristin Vold Lexander
Keyword(s):  
Social Networking Sites ◽  
Electronic Communication ◽  
Instant Messaging ◽  
Text Messages ◽  
Information And Communications Technology ◽  
Discussion Forums ◽  
Writing Systems ◽  
Digital Revolution ◽  
African Languages ◽  
Social And Economic Development

Africa is experiencing immense growth in the use of information technology (IT). Studies of this “Digital Revolution” have tended to focus on social and economic development issues, while lately also studies on the use of African languages on the Internet and in mobile telephony have emerged. Of particular interest is the use of African languages in written electronic communication: does IT increase the marginalization of African languages or does it create a space for their blossoming? This question will be examined in the chapter, considering the extension and the nature of the use of African languages in communication mediated by IT, like websites and electronic discussion forums, emails, instant messaging, social networking sites, and text messages. The technological dimensions related to writing systems, different efforts aiming at the standardization of keyboards, and the translation of software will also be discussed.

Using Google Trends and Baidu Index to analyze the impacts of disaster events on company stock prices

2019 ◽  
Vol 120 (2) ◽  
pp. 350-365 ◽  
Author(s):  
Ying Liu ◽  
Geng Peng ◽  
Lanyi Hu ◽  
Jichang Dong ◽  
Qingqing Zhang
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Google Trends ◽  
External Information ◽  
Negative Effects ◽  
Content Type ◽  
Company Stock ◽  
Short Period ◽  
Long Time ◽  
International Investors

Purpose With the ascendance of information technology, particularly through the internet, external information sources and their impacts can be readily transferred to influence the performance of financial markets within a short period of time. The purpose of this paper is to investigate how incidents affect stock prices and volatility using vector error correction and autoregressive-generalized auto regressive conditional Heteroskedasticity models, respectively. Design/methodology/approach To characterize the investors’ responses to incidents, the authors introduce indices derived using search volumes from Google Trends and the Baidu Index. Findings The empirical results indicate that an outbreak of disasters can increase volatility temporarily, and exert significant negative effects on stock prices in a relatively long time. In addition, indices derived from different search engines show differentiation, with the Google Trends search index mainly representing international investors and appearing more significant and persistent. Originality/value This study contributes to the existing literature by incorporating open-source data to analyze how catastrophic events affect financial markets and effect persistence.

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