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Relevant bibliographies by topics / Capital market Capital market Stock exchanges

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Academic literature on the topic 'Capital market Capital market Stock exchanges'

Author: Grafiati

Published: 4 June 2021

Last updated: 12 February 2022

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Journal articles on the topic "Capital market Capital market Stock exchanges"

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Lins, Karl V., Deon Strickland, and Marc Zenner. "Do Non-U.S. Firms Issue Equity on U.S. Stock Exchanges to Relax Capital Constraints?" Journal of Financial and Quantitative Analysis 40, no. 1 (2005): 109–33. http://dx.doi.org/10.1017/s0022109000001769.

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AbstractThe positive market reaction associated with an ADR listing is frequently attributed to a reduction in market segmentation costs that improves access to capital. If so, the benefit should be greatest for ADR firms that face relatively high indirect barriers to capital access. Our paper directly tests this supposition. We document that, following a U.S. listing, the sensitivity of investment to free cash flow decreases significantly for firms from emerging capital markets, but does not change for developed market firms. Further, emerging market ADR firms mention the need for access to external capital markets in their filing documents more frequently than their developed market counterparts and, in the post-ADR period, tout their liquidity rather than a need for capital access. Finally, the increase in capital access following an ADR is more pronounced for firms from emerging markets. Our findings suggest that greater access to external capital markets is an important benefit of a U.S. stock market listing for emerging market firms and is less important for developed market firms.

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Fauzi, Ahmad, and Asri Sitompul. "The Impact of Internationalization of Sarbanes-Oxley Act to the U.S. Listed Indonesian Companies." Randwick International of Social Science Journal 1, no. 2 (2020): 31–41. http://dx.doi.org/10.47175/rissj.v1i2.43.

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In every country the existence of capital markets is fundamental in the development of the economy. Capital market, in addition to its function as a means to gather and allocate the public funds. Numerous companies attempted to fix up in order to get into a stock market and do the Initial Public Offering (IPO). But it is not an easy job, various preparations should be carried out and of course it takes some time and effort and considerable cost. In addition to stock market laws, the market is also governed by various regulations issued by the market authorities and stock exchanges as the SRO. In the U.S., the authority is the SEC and in Indonesia the capital market authority is the OJK. Stock exchanges such as the NYSE in the U.S. and Indonesian Stock Exchange (BEI) in Indonesia also issued various rules regulate all companies listed the shares in the stock exchanges. Internationalization means to bring something local to the international level. The Sarbanes-Oxley Act is supposed to applicable only in the U.S, it is not applicable in Indonesia. But the law is brought from the U.S brought to Indonesia to be applied to Indonesian companies that have the stocks listed with the U.S stock market. The application of the Act brought some problems to Indonesian companies that have to comply with all requirements stipulated in the Act.

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İlhan, Bilal. "Stock market liberalization: implications on cost of capital in emerging Islamic countries." Journal of Capital Markets Studies 3, no. 2 (2019): 157–78. http://dx.doi.org/10.1108/jcms-08-2019-0040.

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Purpose Most of the major Islamic countries’ stock exchanges have not been able to perform at the same pace with the major emerging countries’ stock exchanges since the mid of 1990s. The purpose of this paper is to examine the implications of stock market liberalization on cost of capital as one of the crucial driver to stock market development and physical investment growth in emerging Islamic countries. Design/methodology/approach This study employs static panel data techniques on the sample of seven emerging Islamic countries over the years 1989-2008. Findings The findings of this study suggest that stock market liberalization significantly reduces cost of capital in the stock markets of sample Islamic countries, which carries policy-oriented implications. Reduction in the cost of capital increases the number of exchange-traded companies, profitability of projects and aggregate investment level; therefore, the study findings are highly concerned by the economic policymakers, corporations and investors alike. Research limitations/implications In the literature, different proxies are employed to measure stock market liberalization and cost of capital as well. Due to data limitations, this study could not employ different proxies for both, especially for stock market liberalization, for robustness purpose. That limitation further restricted the coverage of Islamic stock markets and time period. Therefore, generalization of the study results for overall Islamic stock markets can be slightly drawn. Originality/value The paper provides further understanding regarding the effects of SML on cost of capital, thereby indirectly on the stock market development, in the context of EIC.

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Y. Uppal, Jamshed. "The Role of Satellite Stock Exchanges: A Case Study of the Lahore Stock Exchange." LAHORE JOURNAL OF ECONOMICS 14, no. 2 (2009): 1–47. http://dx.doi.org/10.35536/lje.2009.v14.i2.a1.

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In many countries, capital markets are often served by multiple stock exchanges, typically with one national or dominant exchange and several regional or satellite exchanges. While multiple exchanges create a competitive landscape, they also lead to fragmented liquidity and diseconomies in operations. This paper examines the role of the Lahore Stock Exchange (LSE) in comparison with the country’s dominant exchange, the Karachi Stock Exchange (KSE), in four areas: (i) market efficiency in processing information, (ii) transaction costs, (iii) contribution to price discovery, and (iv) market integration. A comparative analysis of the exchange performance indicates the two exchanges to be at par in terms of informational efficiency and transaction costs. There is evidence of informational linkages and interdependencies between the two exchanges; the LSE appears to contribute to price discovery and competes to an appreciable extent. Against the background of proposals to merge the country’s three stock exchanges, a major consideration in evaluating public policy is the relative performance of the LSE and its viability as an effective competitor. Eliminating interexchange competition by merging the stock exchanges is predicted to lead to higher transaction costs, lower incentives for regulatory compliance, and diminished motivation for promoting capital market development.

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Rahman, Asheq Razaur, and Roger S. Debreceny. "Institutionalized Online Access to Corporate Information and Cost of Equity Capital: A Cross-Country Analysis." Journal of Information Systems 28, no. 1 (2013): 43–74. http://dx.doi.org/10.2308/isys-50653.

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ABSTRACT The demand for online information in stock markets around the world has led to many stock exchanges requiring the disclosure of information on listed corporations through the stock exchange website. We examine the impact of online access to corporate information on stock exchange websites on market transparency. We posit that institutionalized online information dissemination is likely to reduce the level of information asymmetry in stock markets. To increase the spread in the types of markets and market features in our sample, we expand the sample size of 40 or fewer countries commonly used in recent cross-country studies to 110 countries. Our proxy for the level of information asymmetry in stock markets is the cost of equity capital (COE). We examine the online availability of corporate information on the websites of the stock exchanges (AVAILABILITY) of the 110 countries, and find that there is a negative association between COE and AVAILABILITY. Further analysis shows that this association is stronger for emerging market countries, equity-based (common law) countries, and low press transparency countries. We conclude that while institutionalized online information dissemination is beneficial to all capital markets, it mostly benefits emerging capital markets, equity-based markets (common law countries) and markets with weaker alternative information sources.

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Šeba, Mihaela Grubišić. "20 Years of the Croatian Capital Market." Zagreb International Review of Economics and Business 20, s1 (2017): 41–58. http://dx.doi.org/10.1515/zireb-2017-0004.

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Abstract From 1990s to the end of 2006 there have been two stock exchanges in Croatia - an official stock exchange in Zagreb and a so-called alternative capital market in Varaždin. The Zagreb stock exchange had a dominant role in the Western Balkan region until 2008, when its market capitalisation significantly decreased because of the influence of the global financial crisis and the economic downturn of the country. This paper analyses gradual regulatory and institutional development of the Croatian capital market, emergence and strengthening of institutional investors and assets under their management, key market development indicators related to market supply and demand and investor protection mechanisms. The research presented in this paper has shown the crucial role of regulation in attracting investors and sustaining their presence in the market. It also recommends more active role of regulation and stock exchange towards the issuers and small investors to encourage constant supply of corporate securities.

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Rudnicki, Józef. "STOCK SPLITS AND LIQUIDITY FOR TWO MAJOR CAPITAL MARKETS FROM CENTRAL–EASTERN EUROPE." Business, Management and Education 10, no. 2 (2012): 145–58. http://dx.doi.org/10.3846/bme.2012.11.

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In the stock market there occur some events that contradict the efficient market hypothesis therefore they are called anomalies. One of the mysterious corporate events which has attracted the attention of numerous researchers is a stock split. I perform the review of implications of splitting the stock for market liquidity of companies listed on the Warsaw Stock Exchange and the Vienna Stock Exchange. I use event study, in particular Market model method and Market adjusted return method, to inspect the behavior of abnormal changes in daily trading volume for stock splits performed between 2000 through 2011 over a short run and assuming a longer time interval. Moreover, I juxtapose the results for both stock exchanges to examine whether the stock split phenomenon for two major capital markets from this part of Europe can be better explained by means of existing theories on stock splits. The research is aimed at analyzing the implications of the split for market liquidity, i.e. whether there occurs an immediate effect following the split as well as whether this corporate event improves the level of market liquidity over long run. Furthermore, the goal of the paper is to investigate whether the investors can cash in on the stock split, more specifically, whether they can profit from lower transaction costs. I document a significant growth in the market liquidity of stock splitting firms over 36 months following the split for both capital markets what is indicative of lower transaction costs for investors. The 1–percent significant results are consistent with the liquidity hypothesis on stock splits.

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Outa, Erick Rading, Nelson Maina Waweru, and Peterson Kitakogelu Ozili. "Security market regulation: antecedents for capital market confidence in frontier markets." Accounting Research Journal 31, no. 2 (2018): 157–73. http://dx.doi.org/10.1108/arj-10-2015-0130.

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PurposeThe purpose of this study is to examine the capital market effects of corporate governance (CG) practices of a “comply or explain” environment on stock market liquidity in a frontier market.Design/methodology/approachUsing secondary data from Nairobi Securities Exchange, the liquidity position is analyzed using panel data random effects regression against CG guidelines.FindingsThe results show a negative and significant relationship between CG compliance and stock market liquidity, suggesting that regulated CG practices improve market liquidity in Kenya. The results are remarkably robust to different measures of liquidity and supports agency and signaling theory.Practical implicationsThe authors provide evidence to show that security regulation improves stock market liquidity in a frontier market whose characteristics are thought not to favor regulation. Therefore, regulators and stakeholders could be motivated by the benefits of regulation, and this could lead to renewed effort to improve CG compliance.Originality valueThe findings show that security market regulation through CG guidelines can improve stock market liquidity in frontier markets. This offers regulators and policymakers a strong motivation to enhance security regulation to improve capital market confidence.

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LUTSIV, Pavlo. "THE GLOBAL IMPACTS OF TRANSFORMATION ON WORLD CAPITAL MARKET." WORLD OF FINANCE, no. 4(53) (2017): 89–98. http://dx.doi.org/10.35774/sf2017.04.089.

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Introduction. The general feature of the modern theory of globalization is the interdependence of economies of countries of the world, which is based on the transformation of national economics into an integrated global world economy. Permanent transformations of world economic processes lead to corresponding changes in the distribution and redistribution of capital. Essential growth of amounts and quantities of ІPO-transactions is showing the high efficiency of the principal financial instrument which is IPO-market. Purpose. The investigation of condition of transformation process on international capital market, installation of tendencies in changing of dynamic of the activity on world IPO market. Results. The globalization of financial markets has a revolutionary effect not only forworld financial market, but also for international investors and borrows of capital. The theoretical concept of globalization of financial markets provides of elimination barriers between domestic and international financial markets. The modern world economy is characterized by three tendencies such as new convergence, cyclical interdependence and dissimilarity in distribution. The essence and forms of manifestation ofthe financiaiization ofthe economics are deployed which leads to an increase in the financial depth of the economy. The essence of the international capital market is complemented by the analysis of problems ofthe development of IPO-market. Conclusion. The international capital market is in a condition of constant renewal through the positive influence of globalization processes in the world economy. The consolidation of Western stock exchanges on the IPO-market is continuing, while stock exchanges are expanding in developing countries throughjoint initiatives and closer integration.

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Patil, RH. "Raising Funds from the Capital Market: Challenges for the Private Sector." Vikalpa: The Journal for Decision Makers 11, no. 1 (1986): 5–12. http://dx.doi.org/10.1177/0256090919860102.

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In this Perspectives piece, R H Patil, a specialist on capital markets and stock exchanges, analyses the challenging task before the private corporate sector in raising funds from the capital market to meet the investment targets envisaged in the Seventh Plan. Author of several articles on capital markets and finance, R H Patil is General Manager (Research & Planning], Industrial Development Bank of India, Bombay.

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Dissertations / Theses on the topic "Capital market Capital market Stock exchanges"

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Koh, Sung Soo. "The Korean stock market structure, behavior, and test of market efficiency /." Online version, 1989. http://ethos.bl.uk/OrderDetails.do?did=1&uin=uk.bl.ethos.352906.

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Tobita, Naomi. "On effects of gradual capital market deregulation in Japan spillovers in a mildly segmented stock market /." Thesis, University of Hawaii at Manoa, 2003. http://proquest.umi.com/pqdweb?index=0&did=765887971&SrchMode=1&sid=2&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1209146769&clientId=23440.

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Mittoo, Usha Rani. "Academic information and financial markets : an empirical investigation of market learning from the size anomaly." Thesis, University of British Columbia, 1988. http://hdl.handle.net/2429/29023.

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This dissertation examines the impact of academic information on the capital markets. A test of market learning from academic information is performed by examining the impact of published research about the size anomaly on the underlying asset pricing process. A theoretical framework to examine the effect of events that affect the equilibrium pricing process is first developed in a simple economy with one single risky asset. A learning model based on Bayesian updating is proposed and its empirical implications are derived. The model predicts a change in the asset prices in the case of market learning. The predictions about the learning path depend on the assumed information structure. The key hypotheses are motivated through an illustrative case in a multi-asset economy where there is more information available concerning large firms than about small firms. The econometric model of switching regimes is used to analyze the hypothesized structural change in the mean returns associated with the size variable. We postulate two regimes, one prior to and another after the incorporation of research information on the size anomaly. We find evidence of a switch in regimes with estimated mean switch located in 1983. The estimated average size premium has declined from approximately 13.6% per annum in the first regime to about -2.8% per annum in the second regime. More importantly, the switch in 1983 is not explained by any of the hypothesized economic factors that explain a large part of the stochastic variation in the size effect in the periods prior to 1983. We also find evidence of a switch in regimes when the seasonal January size effect is excluded. The evidence also suggests an increase in the trading volume associated with the information arrival. Our evidence strongly suggests that the market has undergone a change in its underlying equilibrium pricing process after the discovery of the size anomaly. The evidence supports the hypothesis that academic research relating to the size anomaly has provided useful information to the investors and the market has learnt from this information.<br>Business, Sauder School of<br>Graduate

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Yuen, Moon-chuen. "An empirical test of the arbitrage pricing theory in the Hong Kong stock market /." [Hong Kong : University of Hong Kong], 1985. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12317664.

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Tsang, Yuk-fong Elly. "The employment of debt securities in Hong Kong : a study of the market's past developments, recent growths and future prospects /." [Hong Kong : University of Hong Kong], 1986. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12325922.

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Al-hussieni, Sami. "Exchange listing and shareholder wealth: Canadian evidence." Ottawa, 1998.

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Cândido, Maria Teresa. "Financial market liquidity, asset pricing, and financial crises /." Diss., Connect to a 24 p. preview or request complete full text in PDF format. Access restricted to UC campuses, 1998. http://wwwlib.umi.com/cr/ucsd/fullcit?p9914068.

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Wu, Di. "The New York Stock Exchange/Euronext merge." CSUSB ScholarWorks, 2007. https://scholarworks.lib.csusb.edu/etd-project/3309.

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Tsang, Yat-ming, and 曾日明. "Risk and return in financial markets: a studyof the Hong Kong stock market." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1991. http://hub.hku.hk/bib/B31976736.

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Martin, Xiumin. "Accrual persistence and accrual anomaly." Diss., Columbia, Mo. : University of Missouri-Columbia, 2007. http://hdl.handle.net/10355/4824.

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Thesis (Ph. D.)--University of Missouri-Columbia, 2007.<br>The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file (viewed on September 28, 2007) Vita. Includes bibliographical references.

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Books on the topic "Capital market Capital market Stock exchanges"

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Hu, Yebi. China's capital market. Chinese University Press, 1993.

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The capital market in Nigeria. R.A. Olukole, 2002.

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Levine, Ross. Capital control liberalization and stock market development. World Bank, Policy Research Dept., Finance and Private Sector Development Division, 1996.

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Ajit, Singh. The stock-market and economic development: Should developing countries encourage stock-market?. UNCTAD, 1992.

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Singh, Ajit. The stock-market and economic development: Should developing countries encourage stock-markets? United Nations Conference on Trade and Development, 1992.

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Barro, Robert J. The stock market and investment. National Bureau of Economic Research, 1989.

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National Capial Market Conference (1st 2003? Nigeria). Nigerian capital market and the globalisation challenges: Proceedings of the First Annual National Capital Market Conference. Securities and Exchange Commission, 2003.

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Kanuk, Alan R. Capital markets of India: An investor's guide. John Wiley & Sons, Inc., 2007.

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Analysis of factors affecting the development of an emerging capital market: The case of the Ghana Stock market. African Economic Research Consortium, 1998.

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Korajczyk, Robert A. A measure of stock market integration for developed and emerging markets. World Bank, Policy Research Dept., Finance and Private Sector Development Division, 1995.

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Book chapters on the topic "Capital market Capital market Stock exchanges"

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Żebrowska-Suchodolska, Dorota, and Andrzej Karpio. "The Econometric Analysis of the Food Sector Performance on the Background of the Main Market at Warsaw Stock Exchange." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_32.

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Peráček, Tomáš, Lucia Kočišová, and Boris Mucha. "The Position and Importance of Stock Exchange Market and Central Securities Depository as the Inseparable Part of the Capital Market of the Slovak Republic." In Finance and Sustainability. Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-92228-7_16.

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Itoh, Makoto, and Costas Lapavitsas. "Joint-Stock Capital and the Capital Market." In Political Economy of Money and Finance. Palgrave Macmillan UK, 1999. http://dx.doi.org/10.1057/9780230375789_5.

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Megginson, William L., and Natalie L. Sutter. "Globalization and the Growth of International Stock Exchanges." In Capital Markets, Globalization, and Economic Development. Springer US, 2005. http://dx.doi.org/10.1007/0-387-24563-4_6.

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Dhankar, Raj S. "Stock Market Return Volatility." In Capital Markets and Investment Decision Making. Springer India, 2019. http://dx.doi.org/10.1007/978-81-322-3748-8_7.

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Asyngier, Roman. "The Motives of Name Changes and Share Quotations on the Warsaw Stock Exchange." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_10.

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Trzpiot, Grażyna. "Application Quantile-Based Risk Measures in Sector Portfolio Analysis—Warsaw Stock Exchange Approach." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_15.

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Tarczyński, Waldemar, and Małgorzata Tarczyńska-Łuniewska. "Beta Coefficient and Fundamental Strength in Companies Listed on the Warsaw Stock Exchange." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_17.

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Bieszk-Stolorz, Beata, and Iwona Markowicz. "Analysis of Performance of the Warsaw Stock Exchange Companies from Finance Macrosector in Periods of Crisis." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_1.

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Stereńczak, Szymon. "In Search of the Best Proxy for Liquidity in Asset Pricing Studies on the Warsaw Stock Exchange." In Effective Investments on Capital Markets. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-21274-2_3.

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Conference papers on the topic "Capital market Capital market Stock exchanges"

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Małecka, Joanna. "Alternative Securities Markets as Financing Sources for SMEs – Selected Aspects of AIM and NC." In Contemporary Issues in Business, Management and Education. Vilnius Gediminas Technical University, 2017. http://dx.doi.org/10.3846/cbme.2017.072.

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Small and medium-sized enterprises are the foundation for the development of each contemporary national economy. Their number affects macroeconomic indices of economies and directly translates into the labour market created by SMEs. This article aims to investigate the key conditionings behind the macroeconomic significance and legal factors of the financial market operation in Poland and the UK, with particular emphasis on the stock exchange as the fundamental element of the capital market. Both AIM and NewConnect are platforms dedicated to SMEs, which have been allowed easier access to this capital market segment by minimising mandatory legal conditions. This study analyses the number of listed companies and their capitalisation values in 1999–2015, covering: the rules of the financial market operation, with a special focus on the legal bases of the stock market operation in the economies investigated; legal conditions for the development of this economic segment; and a detailed analysis of the number of participants and capitalisation values achieved on the Warsaw and London Stock Exchanges, in particular AIM and NewConnect. This paper builds on source data from various annual reports and stock exchange publications drawn up and made available by stock exchanges and financial supervisors. The attempt to compare the indices and capacities of the WSE and the NC with the biggest European player is motivated by the fact that the Warsaw Stock Exchange is classified as the largest and most dynamically growing stock exchange in Central and Eastern Europe.

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Hu, Wenxiu, and Kong Wei. "Insider trading, internal capital market efficiency and SEO announcement returns — An empirical research on a-share market of China Shanghai stock exchanges." In 2017 29th Chinese Control And Decision Conference (CCDC). IEEE, 2017. http://dx.doi.org/10.1109/ccdc.2017.7979085.

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Hasan, Md Zobaer, Anton Abdulbasah Kamil, Adli Mustafa, and Md Azizul Baten. "Risk-Return Association of Dhaka Stock Exchange Market: A Capital Asset Pricing Model Framework." In Annual International Conferences on Accounting and Finance. Global Science & Technology Forum (GSTF), 2012. http://dx.doi.org/10.5176/2251-1997_af08.

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Suhendra, Euphrasia Susy. "The Influence of Intellectual Capital on Firm Value towards Manufacturing Performance in Indonesia." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01192.

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The aim of this study is to analyse the influence of intellectual capital on firm value through firm performance (profitability, productivity, market valuation and growth). Intellectual capital is measured by using a Value Added Intellectual Coefficient (VAIC™). Firm value is measured by Tobin's Q. The financial performance consists of Return on assets (ROA), Asset turn over (ATO), Market to Book Value (MB) and Earnings per Share (EPS). Data from this study was obtained from financial statements and annual reports of manufacturing companies that are taken from the Indonesia Stock Exchange. The sample of this study is manufacturing companies listed on the Indonesia Stock Exchange during the year of 2011-2013 for 37 companies. The types of data used are secondary data in the form of annual reports by the manufacturing companies. Empirical analysis is conducted by using Structural Equation Modelling (SEM). The results of this study indicate that Intellectual capital has a significant effect on profitability, market valuation and growth. Intellectual capital does not significantly affect productivity and firm value. Market valuation significantly affects the firm value. Profitability, productivity and growth do not significantly affect firm value. Furthermore, Intellectual capital which is intervened by the firm performance has a positive effect on firm value.

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Gazioğlu, Şaziye. "Recent Monetary Policy in Turkey: Capital Flow, Reserves and Exchange Rate." In International Conference on Eurasian Economies. Eurasian Economists Association, 2011. http://dx.doi.org/10.36880/c02.00241.

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In this paper, we investigate the recent monetary policies and development of Turkish banking system during the post 2001 financial and banking crisis. We explore the effects of capital inflows and outflows to real exchange rates and the real stock market prices, before and after the financial crisis. We investigate the relationship between real exchange rate, real stock prices and capital flows. We decompose the foreign flows into real assets and liabilities, in order to investigate the possible long-term effect of inflows and outflows. Reversal of capital flow seems to create a possibility of exchange rate crisis. The Turkish Central Bank by taking lessons from this experience they formulate their recent policies accordingly. Recent Monetary Policy mix in Turkey aims to have financial stability by increasing the reserve ratio in each component of capital flows in Turkey. The ratio increases shorter the period of the asset. The Central Bank work claims to have an effect similar to inflation targeting.

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Učkar, Dean. "Is Capital Structure Important in Contemporary Finance Relations?" In Organizations at Innovation and Digital Transformation Roundabout. University of Maribor Press, 2020. http://dx.doi.org/10.18690/978-961-286-388-3.66.

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t The various combinations of sources of financing that a business uses in its operations have multiple impacts on the generation of its cash flow. Such influence can be viewed from the aspect of forming the total cost of financing the company, from the aspect of investments where such an indicators represents the minimum level of required profitability of investment projects, as well as from the aspect of investors in an enterprise where different capital structure carries with it a different level of financial risk. It is therefore not surprising that there is considerable scientific interest in this issue and numerous researches conducted on this topic. Moreover, the relevance of the subject is also evidenced by the fact that there are numerous theories on the formation of capital structure and its consequences on the valuation of the company, that is, the influence on the market value of the company's shares. This paper will determine the average values of the formation of the capital and financial structure of Croatian companies listed on the Zagreb Stock Exchange. The analysis of 30 companies over a ten-year period from 2009 to 2018 will seek to show the impact that the formed capital structure has on profitability. By establishing a negative link between the selected debt indicators and the profitability indicators, the validity of contemporary capital structure theories, which have their starting point in behavioral finance and are specific for developed financial markets, has been rejected.

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Lestari, Reni. "Analysis of Stock Market Integration Among ASEAN Countries by Using Vector Error Correction Model (VECM) Approach." In Japan International Business and Management Research Conference. RSF Press & RESEARCH SYNERGY FOUNDATION, 2020. http://dx.doi.org/10.31098/jibm.v1i1.220.

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Globalization has driven the economy of countries to relate to each other. It brings relationships in the capital among countries in the world, especially in ASEAN region countries. This study aimed to analyze the integration of the stock market among countries in the ASEAN region. The stock market was analyzed are the Indonesia Stock Exchange, Malaysia Stock Exchange, Singapore Stock Exchange, Thailand Stock Exchange, Vietnam Stock Exchange, and Philippine Stock Exchange. This study using the Vector Error Correction Model (VECM) as the method. The result of this study shows that, in the long term Singapore Stock Index (STI), Malaysia Stock Index (KLSE), Philippines (PSEi), and Indonesia Stock Index (JKSE) are positively correlated. This means the change of stock index price in one country will affect other related countries in the long term. In the short term of VECM estimation, found the Vietnam Stock Index (VNI), Singapore Stock Exchange (STI), Philippine (PSEi) are positively correlated and negatively correlated with Thailand Stock Exchange (SET). For the managerial implication, the result of this study is expected as a reference or basis of consideration of investment decisions. This because long-term stock market movements are important because they impact international portfolio management and risk diversification.

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Basri, Basri, Bimo Harnaji, and Kartinah Kartinah. "The Effect of Inflation Rate and Rupiah Currency Exchange Rate Fluctuation toward Stock Risk at Indonesia Capital Market." In Proceedings of the International Conference on Banking, Accounting, Management, and Economics (ICOBAME 2018). Atlantis Press, 2019. http://dx.doi.org/10.2991/icobame-18.2019.58.

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Karcıoğlu, Reşat, Muhammet Özcan, and Ensar Ağırman. "The Relationship of Petroleum Price and BIST Sector Indexes." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01878.

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Energy is not only indispensable element of everyday life, but also underlies industrialization and manufacturing. Energy and manufacturing have become integral parts with the importance of mechanization since the Industrial Revolution. As a result of this emerging situation, businesses, have become sensitive energy and energy prices. For this reason, changes in energy prices directly affect businesses and are thought to have effects on fluctuations in stock prices. Changes in the prices of primary energy sources directly or indirectly affect capital markets. In energy importer countries including Turkey, high energy prices cause an increase in current account deficit and decrease in real national income by increasing the amount of energy imports. In addition, high energy prices lead to cost-based inflation increases as they directly affect raw material prices used in production. All these factors indirectly affect capital markets. Direct effect of energy price changes on the capital market is explained by the fact that energy is an indispensable input in industrial production. In cases where the energy price increase is not reflected to the consumer, the profitability of the enterprise is decreasing. A decrease in profitability affects firm's stock price as well. The aim of this study is to reveal the relationship between sector indices in the Stock Exchange Istanbul (BIST) and oil price changes. Weekly data set for the period for 2006:1 - 2016:4 is used. Johannes co-integration method is used to measure long term relationship in the study.

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Nurwulandari, Andini. "Intellectual Capital, the Capital Market, and Their Effect on the Value of Indonesian Manufacturing Firms Listed on the Indonesian Stock Exchange (IDX) from 2017 to 2020." In 2nd Annual Conference on blended learning, educational technology and Innovation (ACBLETI 2020). Atlantis Press, 2021. http://dx.doi.org/10.2991/assehr.k.210615.032.

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Reports on the topic "Capital market Capital market Stock exchanges"

1

Hall, Robert. The Stock Market and Capital Accumulation. National Bureau of Economic Research, 1999. http://dx.doi.org/10.3386/w7180.

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2

Grossman, Gene, and James Levinsohn. Import Competition and the Stock Market Return to Capital. National Bureau of Economic Research, 1987. http://dx.doi.org/10.3386/w2420.

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3

Campbell, John, and Yasushi Hamao. Predictable Stock Returns in the United States and Japan: A Study of Long-Term Capital Market Integration. National Bureau of Economic Research, 1989. http://dx.doi.org/10.3386/w3191.

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