scholarly journals Temporal optimisation of signals emitted automatically by securities exchange indicators

2020 ◽  
Vol 20 (3) ◽  
pp. 61-71
Author(s):  
Rodrigo Martín García ◽  
◽  
Enrique Ventura Pérez ◽  
Raquel Arguedas Sanz ◽  
◽  
...  
Keyword(s):  
Stock Exchange ◽  
Relative Weight ◽  
Fundamental Analysis ◽  
Technical Indicators ◽  
Stochastic Oscillator ◽  
Portfolio Returns ◽  
Lag Times ◽  
Definition Of ◽  
Spanish Stock Exchange ◽  
Rule Out

Stock exchange indicators deliver buy/sell signals that enable analysts to improve the results of a strategy based strictly on fundamental analysis. Nonetheless, since the automatic implementation of signals as they appear may not yield optimal returns, the present paper analysed the suitability of using a series of technical indicators as guidance for portfolio results. A second aim pursued was to study how delaying the implementation of indicator signals may enhance profitability. A simulation was performed for the years 2005-2016 using the most representative index for the Spanish stock exchange, the IBEX35 and all its constituent securities, along with seven indicators (RoC, RSI, SMA, EMA, MACD, Bollinger bands and Stochastic Oscillator) and a total of 81 combinations of buy/sell lag times. The definition of three non-overlapping sub-periods to guarantee the reliability of the findings yielded a total of 61 236 simulated portfolios. The conclusion drawn from the results was that for certain combinations of indicators, delaying the implementation of buy/sell signals improves returns. More specifically, optimal lag times identified for RSI and EMA signals were shown to deliver statistically significant improvements in portfolio returns, irrespective of the period studied. Those findings were consistent the results of an alternative simulation in which the five securities that were both the most liquid and had the greatest impact on the index were not considered, to rule out the possible effect of the relative weight of securities on either portfolio returns or their normalisation.

scholarly journals Definition of SPA

2020 ◽  
pp. 2
Author(s):  
José Rafael Marques da Silva ◽  
Manuela Correia
Keyword(s):  
International Society ◽  
Precision Agriculture ◽  
Relative Weight ◽  
Three Dimensions ◽  
Definition Of

Some examples of SPA definitions are presented, including the most recent definition released by the International Society of Precision Agriculture (ISPA). The SPARKLE definition of SPA is presented, with a list of all the keywords used to accomplish that definition. The three dimensions of Precision Agriculture (Economy, Agronomy and Technology) and their relative weight are discussed. Materials for this topic include a presentation and a text, that are complementary.

scholarly journals Rewiry metafory. Między ozdobą dyskursu a zwierciadłem duszy

2019 ◽  
Vol 31 ◽  
pp. 46-69
Author(s):  
Katarzyna Popek
Keyword(s):  
Donald Davidson ◽  
The Other ◽  
Gottlob Frege ◽  
Ernst Cassirer ◽  
Rhetorical Tradition ◽  
Complex Sentences ◽  
George Lakoff ◽  
Definition Of ◽  
Linguistic Phenomenon ◽  
Rule Out

The purpose of the text is to make some reconnaissance in the area of title "districts of metaphor" (or hunting grounds of metaphor) as well as reference to the unsolvable problems which are implied by a metaphorical mystery of metaphysical expressions. Thy are the order of the day in the main currents of philosophy. Starting from the rhetorical tradition of metaphor (the Aristotelian attempts of definition of metaphor as such) and of terms additional related with it (Max Black), I gradually illustrate what involves its post-rhetorical tradition. I show that philosophical symbolism derives from Aristotle’s hermeneutics, which becomes a gateway for understanding the mystery of metaphor. Like browsing in themselves mirrors, it grows also from simple phrases in complex sentences. In semantic sense, while the symbol has many meanings, the metaphor has a double meaning. It is not however limited by this matter, because in some sense, it has broader content than a symbol, as it introduces into language meanings that in the symbol are only internal (Paul Ricoeur). We also encounter reflective metaphors in our everyday speech and in the attempts of associative penetration into other people's expression. Conceptual decoding of metaphors is common for users of language (George Lakoff, Mark Johnson). On the other hand, there are specific districts of metaphorical expressions, which are reserved for poetic metaphors (Donald Davidson). Noteworthy are also the very unobvious contexts of metaphor in which the authors do not talk about this linguistic phenomenon directly (eg. Gottlob Frege, Ernst Cassirer). Declarative answer to the question whether the metaphor is a simply ornament of discourse or rather a mirror of the soul, is not possible too. Perhaps the metaphor as such includes the both variants. One must consider that being an ornament of speech or writing does not rule out it is also something more than just decoration. It wonders, bothers, disquiet, returning us into our souls. It is also like the unifying soul of all people – in cognitive sense.

scholarly journals Hybrid fuzzy neural network versus backpropagation neural network: An application to predict the Ibex-35 index stock

2020 ◽  
Vol 6 (1) ◽  
pp. 85-98
Author(s):  
J. Oliver Muncharaz
Keyword(s):  
Neural Network ◽  
Neural Networks ◽  
Neuronal Network ◽  
Fuzzy Neural Network ◽  
Stock Exchange ◽  
Prediction Errors ◽  
Market Prices ◽  
Index Stock ◽  
Fuzzy Neural ◽  
Spanish Stock Exchange

The use of neural networks has been extended in all areas of knowledge due to the good results being obtained in the resolution of the different problems posed. The prediction of prices in general, and stock market prices in particular, represents one of the main objectives of the use of neural networks in finance. This paper presents the analysis of the efficiency of the hybrid fuzzy neural network against a backpropagation type neural network in the price prediction of the Spanish stock exchange index (IBEX-35). The paper is divided into two parts. In the first part, the main characteristics of neural networks such as hybrid fuzzy and backpropagation, their structures and learning rules are presented. In the second part, the prediction of the IBEX-35 stock exchange index with these networks is analyzed, measuring the efficiency of both as a function of the prediction errors committed. For this purpose, both networks have been constructed with the same inputs and for the same sample period. The results obtained suggest that the Hybrid fuzzy neuronal network is much more efficient than the widespread backpropagation neuronal network for the sample analysed.

scholarly journals Performance Analysis of Investment Portfolio Strategy Using Warren Buffett, Benjamin Graham, and Peter Lynch Method in Indonesia Stock Exchange

2021 ◽  
Vol 6 (4) ◽  
pp. 394-401
Author(s):  
Ganda Hengky Wirawan ◽  
Erman Sumirat
Keyword(s):  
Performance Analysis ◽  
Stock Exchange ◽  
Screening Method ◽  
Financial Ratios ◽  
Fundamental Analysis ◽  
Investment Portfolio ◽  
Value Investing ◽  
Back Testing ◽  
Portfolio Strategy ◽  
The World

Warren Buffett, Benjamin Graham, and Peter Lynch are three (3) famous investors’ gurus in the world that have already proved that they can outperform the market by value investing method. Method that they are using are based on fundamental analysis and they screen the company’s stock based on several key financial ratios and criteria that they found important in analyzing the company. In this project, Author conducted research and study to find out the applicability of the screening method made by the gurus in Indonesia Stock Exchange (IDX) using equally weighted method, back testing it in May 2012 until December 2020 periods, and evaluate the performance of each type of portfolios made using Sharpe ratio, Treynor ratio, and Jensen’s alpha. The result of this project is all type of these portfolios are having positive risk adjusted returns. Peter Lynch type of portfolio is having the highest annualized return 24.04 % or 613 % cumulative return, while Warren Buffett and Benjamin Graham are having annualized returns 9.42 % (or cumulative return 216.48%) and 8.3 % (or cumulative return 198.27%) respectively. Moreover, Author found that those three types of portfolios are having beta (β) nearly the same with one (1) means that the portfolios are having same risk with its systematic (market) risk.

scholarly journals Predicting the Istanbul Stock Exchange Index Return using Technical Indicators

2013 ◽  
Vol 2 (3) ◽  
pp. 111-117
Author(s):  
Senol Emir
Keyword(s):  
Stock Exchange ◽  
Absolute Error ◽  
Percentage Error ◽  
Support Vector ◽  
Model Parameters ◽  
Technical Indicators ◽  
Istanbul Stock Exchange ◽  
Vector Machines ◽  
Classical Linear Regression ◽  
Daily Returns

The aim of this study to examine the performance of Support Vector Regression (SVR) which is a novel regression method based on Support Vector Machines (SVM) approach in predicting the Istanbul Stock Exchange (ISE) National 100 Index daily returns. For bechmarking, results given by SVR were compared to those given by classical Linear Regression (LR). Dataset contains 6 technical indicators which were selected as model inputs for 2005-2011 period. Grid search and cross valiadation is used for finding optimal model parameters and evaluating the models. Comparisons were made based on Root Mean Square (RMSE), Mean Absolute Error (MAE), Mean Absolute Percentage Error (MAPE), Theil Inequality Coefficient (TIC) and Mean Mixed Error (MME) metrics. Results indicate that SVR outperforms the LR for all metrics.

scholarly journals Análisis de los tipos de acoso y discriminación recogidos en los códigos de conducta de las empresas cotizadas en la Bolsa española en el mercado continuo a 31-12-2015/Analysis of the types of harassment and discrimination included in the codes of conduct

2018 ◽  
pp. 2-17
Author(s):  
María Concepción Verona Martel ◽  
Sara De León Santana
Keyword(s):  
Stock Exchange ◽  
Codes Of Conduct ◽  
Code Of Conduct ◽  
Not Given ◽  
Ethical Codes ◽  
Different Types ◽  
Spanish Stock Exchange

En este trabajo se analizan los diferentes tipos de acoso y discriminación recogidos en los códigos éticos de las empresas cotizadas en la Bolsa española a 31-12-2015. Los resultados muestran que las empresas incluyen una amplia variedad de tipos de acoso y discriminación en su código de conducta, entre los que destaca el rechazo a la discriminación por razón de sexo. Asimismo, el análisis por sectores pone de manifiesto que en todos los sectores no se da la misma importancia a los diferentes tipos de acoso y discriminación. Abstract In this paper we analyze the different types of harassment and discrimination included in the ethical codes of companies listed on the Spanish Stock Exchange on 12/31/2015. The results show that companies include a wide variety of types of harassment and discrimination in their code of conduct, among which the rejection of discrimination based on sex stands out. Likewise, the analysis by sectors shows that in all sectors, the different types of harassment and discrimination are not given the same importance.

Start-Ups and Spin-Offs in Biotechnology Sector in Poland

Biotechnology ◽  
2019 ◽  
pp. 1293-1321
Author(s):  
Anna Białek-Jaworska ◽  
Renata Gabryelczyk
Keyword(s):  
Business Models ◽  
Stock Exchange ◽  
Early Stage ◽  
Global Strategy ◽  
Third Party ◽  
Start Up ◽  
Warsaw Stock Exchange ◽  
Business Line ◽  
Definition Of ◽  
Start Ups

This chapter concerns the subject of research-developmental activity of biotech spin-offs in Poland with particular reference to their strategy, determinants of their development and determinants of their financial standing. In the chapter, the authors analyse the determinants of biotech spin-offs and start-ups development in Poland in the light of the research commercialisation cooperation on the universities-business line. The literature overview contains the definition of a process for the commercialisation of the results of research and development (R&D) activity and components of companies' business models. The chapter defines key activities in the development of business models in the context of the commercialisation process and the life cycle of the company, especially at the start up and early stage. Quality-quantitative analysis includes the business models of seven biotechnology spin-offs traded on the alternative market of the Warsaw Stock Exchange, especially the structure of their intellectual capital, R&D expenses in relation to received subsides and grants, third-party shares in start up equity, and the ability to realise the “Go Global” strategy.

Weak-form Efficiency After Global Financial Crisis: Emerging Stock Market Evidence

2017 ◽  
Vol 16 (1) ◽  
pp. 90-113 ◽  
Author(s):  
Emenike Kalu O.
Keyword(s):  
Financial Crisis ◽  
Banking Sector ◽  
Oil And Gas ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Weak Form ◽  
Jel Classification ◽  
Fundamental Analysis ◽  
Lm Test ◽  
Weak Form Efficiency

This article investigates weak-form efficiency of the Nigerian Stock Exchange (NSE) and its sectors for the post-global financial crisis period using autocorrelation test, Ljung–Box Q test, McLeod-Li portmanteau test and ARCH-LM test. The descriptive statistics show that the returns of NSE and its sectors are positive. The results show that (i) investors can only predict banking sector return using superior fundamental analysis of their intrinsic values; (ii) prediction of the NSE 30 and Shari’ah equities sector returns require nonlinear model and fundamental analysis and (iii) consumer goods sector and oil and gas sector may be predicted using both technical and fundamental analyses. JEL Classification: G11, 14

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