scholarly journals Study of Using Applications of Artificial Intelligence in Performance of Financial Markets

2022 ◽  
Vol 24 (2) ◽  
pp. 1-18
Author(s):  
Raed Fadel Jawid
Keyword(s):  
Financial Markets ◽  
Stock Exchange ◽  
Regulatory Environment ◽  
Entry And Exit ◽  
Foreign Investors ◽  
Freedom Of Movement ◽  
Developmental Role ◽  
Egyptian Government ◽  
Exchange Transactions ◽  
Egyptian Stock Exchange

In an attempt to revive the stock market in Egypt and revitalize it to fulfill its developmental role, the Egyptian government has pursued a program of economic and financial reform aimed at improving the regulatory environment for the work of that market and removing all restrictions on foreign exchange transactions for foreign investors on the Egyptian Stock Exchange, so this program allowed free movement of entry and exit of the heads Money without any restrictions. Despite differing opinions about the freedom of movement of capital, however

scholarly journals Integration of Financial Markets: A Study of Egypt and Palestine Stock Markets

2016 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Abdul Razak Abdul Hadi ◽  
Shadi Hamad ◽  
Eddy Yap Tat Hiung
Keyword(s):  
Financial Markets ◽  
Time Series Data ◽  
Stock Exchange ◽  
Series Data ◽  
Impulse Response Functions ◽  
Estimation Model ◽  
Dynamic Interactions ◽  
Causality Tests ◽  
Dynamic Relations ◽  
Egyptian Stock Exchange

The objective of this study is to determine the existence of equilibrium and dynamic relations between Egyptian Stock Exchange (EGX) and Palestine Stock Exchange (PEX). Utilising the framework of international trade theories, this paper employs the Engle-Granger Co-integration (1987) procedure as an estimation model on monthly time series data from February 1998 to April 2012. Results indicate that there is a significant equilibrium nexus between EGX and PEX but no empirical evidence was found on the existence of dynamic relations between them via Granger Causality tests. However, analysis of dynamic interactions of the post-sample period by means of Impulse-Response Functions and Variance Decomposition indicate sensitivity in EGX towards changes in PEX.

Hans Sicat and the Transformation at the Philippine Stock Exchange

2014 ◽  
Vol 18 (02) ◽  
pp. 429-454
Author(s):  
Manuel C. Dioquino
Keyword(s):  
Stock Exchange ◽  
Chief Executive ◽  
Business Community ◽  
Foreign Investors ◽  
Listed Firms ◽  
The Public ◽  
Investment Banker ◽  
The Board Of Directors ◽  
The Subject ◽  
Credibility Problem

The Philippine Stock Exchange, Inc. (PSE) was suffering a credibility problem in 2011. Just like the Philippine economy, the PSE was not performing well and the integrity of its leadership and decisions they made was being questioned by the public at large and the business community in particular. Hans Sicat, a retired investment banker, was invited to join the Board of Directors with a tacit agreement that he would be elected Chairman. Events thereafter led to Mr. Sicat's appointment as President and Chief Executive Officer of the bourse. Hans Sicat turns around the stock exchange successfully. How he makes it look seemingly simple is the subject of this case. Hans places all transformative efforts into two “bucket lists”. All of his efforts to increase the volume of trade in the exchange are classified under Liquidity, while all efforts to restore the integrity within the bourse and its listed firms, he refers to as Governance issues. The Philippine Stock Exchange, Inc. transformation does not go unnoticed by domestic and foreign investors, and other stakeholders as well. It breaks the 5,000 point barrier.

The relationship between knowledge-based economy and fraudulent financial reporting

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abbas Koolivand ◽  
Mahdi Salehi ◽  
Meysam Arabzadeh ◽  
Hassan Ghodrati
Keyword(s):  
Financial Markets ◽  
Financial Reporting ◽  
Fixed Effects ◽  
Stock Exchange ◽  
Fraudulent Financial Reporting ◽  
Content Type ◽  
Knowledge Based ◽  
Robust Testing ◽  
Knowledge Based Economy ◽  
The Relationship

Purpose This paper aims to assess the relationship between a knowledge-based economy and fraudulent financial reporting. Design/methodology/approach The study is descriptive-correlation based on published information from enlisted firms on the Tehran Stock Exchange during 2013–2019 with a sample of 178 firms (1,246 observations). The method used for hypothesis testing is linear regression using the panel data. Findings The results show that a knowledge-based economy is associated negatively and significantly with financial reporting. Moreover, robust testing has also examined the hypotheses (including fixed effects, OLS and t + 1) that confirmed the study’s preliminary results. Originality/value As the study was carried out in the emergent financial markets, like Iran, to figure out the relationship between knowledge-based economy and financial reporting, it can provide helpful information for the practitioners in this field.

The effect of auditor narcissism on audit market competition

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hojat Mohammadi ◽  
Mahdi Salehi ◽  
Meysam Arabzadeh ◽  
Hassan Ghodrati
Keyword(s):  
Financial Markets ◽  
Significant Relationship ◽  
Design Methodology ◽  
Audit Quality ◽  
Stock Exchange ◽  
Market Competition ◽  
Competitive Pressure ◽  
Content Type ◽  
Listed Firms ◽  
Audit Market

Purpose This paper aims to assess auditor narcissism’s effect on audit market competition (auditor concentration, clients’ concentration and competitive pressure). Design/methodology/approach This paper’s method is descriptive-correlational based on published information from listed firms on the Tehran Stock Exchange from 2012 to 2018 using a sample of 188 firms (1,310 observations). The method used for hypothesis testing is linear regression using panel data. Findings The results show a negative and significant relationship between auditor narcissism and audit market competition and its indices, including auditor concentration, clients’ concentration and competitive pressure. Moreover, a positive and significant relationship was observed between audit quality and audit market competition and its indices, including auditor concentration, client concentration and competitive pressure. Originality/value To analyzes competition indices in the audit market (auditor concentration, clients’ concentration and competitive pressure). The variable is assessed once more using the exploratory factor analysis of the so-called three variables single variable, named audit market competition. So the central question of the study is investigated within a broader sense. Moreover, as the present study is carried out in the emergent financial markets with extremely competitive audit markets to figure out the effect of auditors’ intrinsic characteristics on such markets’ competitiveness, it can provide useful information in this field.

Market reaction to the Karachi stock exchange floor imposition

2015 ◽  
Vol 4 (2) ◽  
pp. 275-291 ◽  
Author(s):  
Saqib Sharif
Keyword(s):  
Financial Markets ◽  
Market Reaction ◽  
Stock Exchange ◽  
Price Volatility ◽  
Price Limits ◽  
Content Type ◽  
Market Intervention ◽  
Price Floor ◽  
Price Freeze ◽  
Regulatory Intervention

Purpose – The purpose of this paper is to investigate the market reaction to the decision made by the management of the Karachi Stock Exchange (KSE) to impose a price floor that resulted in trading curbs in 2008. The paper analyzes if regulatory intervention helped in restoring investor confidence. Design/methodology/approach – The paper examines the effect of enforcement of a price floor and trading curbs by splitting the time period studied into two periods: pre-floor and post-floor period. The parametric t-statistics and non-parametric Mann-Whitney test are used to compare the abnormal returns (ARs), abnormal trading volume, bid-ask spread, Amihud illiquidity ratio, and price volatility between the two periods. Event study was conducted to observe the behavior of market returns surrounding market-wide price floor. Finally, multivariate regression analysis was also applied by controlling for factors that might influence valuation, liquidity, and volatility. The standard errors have been corrected for cross-sectional clustering due to market-wide restrictions. Findings – The study found an adverse impact of price freeze and trading curb in the KSE, following the relaxation of floor (resumption of active trading). First, the price of securities (or ARs) significantly declined following the relaxation of the price freeze. Second, the market liquidity deteriorated following the relaxation of the price floor. Third, the price volatility increased in the post-floor period. It seems that the decision made by the KSE’s board to implement lower cap on prices for an extended period was ineffective. Practical implications – Market intervention by regulators to bring calm in the financial markets have negative consequences across the globe. The results presented in this paper suggest that implementing price floor brought inefficiency in the market and prevented firms from raising capital to finance their future investments. The author believe this study will add to the knowledge base of regulatory intervention and its impact on the performance of financial markets. Originality/value – There is no empirical evidence on the impact of price limits on volatility in emerging markets. The author selected Pakistan as a case study, where we particularly focus upon impact of the enforcement of a price floor around the peak of Global Financial Crisis (or market intervention) in Pakistan. This study also documents the effect of trading curb on liquidity and volatility in an emerging market, given that a majority of research on trading halt/price limits is based on developed markets.

scholarly journals The Lagged Effect of Advertising Expenditures on the Financial Measures of Brand Equity in the Egyptian Context

2021 ◽  
Vol 04 (09) ◽  
Author(s):  
Nermin M. Gohar
Keyword(s):  
Brand Equity ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Reports ◽  
Financial Measures ◽  
The Impact ◽  
Corporate Brands ◽  
The Relationship ◽  
Egyptian Stock Exchange

This research intends to fill the gap in the literature by studying the impact of lagged real advertising expenditures on different perspectives of brand equity in the Egyptian context, which are: Firm-based and Market-based brand equity. The research follows the quantitative research-based approach, with the descriptive explanatory method. Secondary data was collected from firms’ financial reports of sixteen sectors for the period 2013 - 2020 to consider the effect of real advertising expenditures on firm-based and market-based brand equity models. Data was collected from 168 listed companies in the Egyptian stock exchange market, after deleting the financial institutions. The unit of analysis was the corporate brands and data collected was panel data analyzed using Eviews program – version 10, using GLS regression. Results showed that market risk significantly moderates the relationship between advertising expenditures and Firm-based and Market-based brand equity.

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