Page Header

DOI: http://dx.doi.org/10.18686/fm.v3i1

Table of Contents

Original Article

by Jo-Hui Chen, Batsukh Tushigmaa, Yu-Fang Huang
124 Views, 0 PDF Downloads

This study investigates the chaos effect of agricultural exchange-traded funds (ETFs) using Brock, Dechert, and Scheinkman test, rescaled range analysis, and correlation dimension analysis. The standardized residuals from generalized autoregressive conditional heteroskedasticity models are fitted into eight ETFs and examined in each case for evidence of chaotic behavior. This study also examines whether or not the ETFs are consistent with the chaos effect based on the underlying random data with trend-reinforcing series. Research results outline the financial insights for the agricultural ETF field of investment forecasting to eliminate trading emotions, while pursuing considerable profitable experience for investors.

PDF

Original Article

by Soumitra Mallick
72 Views, 0 PDF Downloads
This paper considers the problem of sustainably developing
stock exchanges like NSEIL and measurable index systems like BSE SENSEX by developing strategies to achieve sales volume which achieve optimal
growth rates. Experimental data on BSE SENSEX and Companies over time
are used which closely mimics now active NSEIL. This requires consideration
of consumer choice in intertemporal markets with endogenous stock market
products. A sequence of five steps is derived to characterize the venturing
technology which will achieve such desired stock market sales volume with
fixed prices and hence the optimal growth rate. It is derived how String Theory is sufficient to build such stock markets in value and volumes by using
depositories. 
PDF

Original Article

by AKM Matiur Rahman, Muhammad Mustafa
339 Views, 0 PDF Downloads

This paper explores the effects of changes in crude oil and gold prices on US Stock market movement. Daily data are used from the first business day of January, 1986 through December30, 2016. Efficient unit root tests (DF-GLS and Ng-Perron) are applied to examine the time series property of the variables in terms of stationarity or non-stationarity.  ARDL Bounds Testing is applied for co-integration. Both DF-GLS and Ng-Perron tests confirm non-stationarity of each variable and depict I (1) behavior of all the variables in log-levels, included in this study. The ARDL-Bounds testing confirm co-integration among the variables. There is evidence of long-run convergence among all these variables with very tepid adjustment toward the equilibrium. Short-run negative effects of changes in gold and crude oil prices on US stock market returns are observed. The effect is statistically significant from gold price changes, but insignificant from crude oil price changes.

PDF

Original Article

by Suman Maity, Sujit Kumar De, Madhumangal Pal
136 Views, 0 PDF Downloads

In this article we develop an economic order quantity (EOQ) model with backlogging where the decision is made jointly from two decision maker supposed to view one of them as the industrialist (developer) and the other one as the responsible manager. The problem is handled under dense fuzzy environment. In fuzzy set theory the concept of dense fuzzy set is quite new which is depending upon the number of negotiations/ turnover made by industrial developers with the supplier of raw materials and/or the customers.  Moreover, we have discussed the preliminary concept on dense fuzzy sets with their corresponding membership functions and appropriate defuzzification method. The numerical study explores that the solution under joint decision maker giving the finer optimum of the objective function. A sensitive analysis, graphical illustration and conclusion are made for justification the new approach.

PDF

Original Article

by Kun-chih Chen, Wuchun Chi, Gerald Lobo, Kevin Ow Yong
106 Views, 0 PDF Downloads

We examine the determinants that influence managers’ decision as to whether a lease is structured as a financing lease or an operating lease. Specifically, we find that firms with higher marginal tax rates, lower credit ratings, and more severe agency problems are more likely to use both operating leases and financing leases. However, tax considerations and debt capacity have little effect on which of the two types of lease is chosen. More importantly, we find that differences in kinds of agency problemsare reflected in the choice of the type of lease. Our study provides a better understanding of the extent of risks and benefits associated with the use of leased assetsand contributes to the discussion of impending revisions to lease accounting rules by standard-setting bodies.

PDF