Market Efficiency in an Irrational World

Rational Capital Budgeting in an Irrational World

Evaluation Iran Capital Market Hedging using World Capital Market (Simultaneous Investment in Iran Stock Exchange Market & World Gold Market)

Hedging is one of the most important topics in investment field, which could be noticed from different points of view. We evaluate the role of gold relative to different indices in Tehran Security Exchange (TSE) as a representative of Iran Capital Market .In this topic gold charecterristics of “save haven” and “hedge” versus TSE are studided. Daily Price Returns of 21 TSE stock indices and dail...

Irrational investor response to stock splits in an emerging market

In the backdrop of the creation and collapse of the Cyprus stock market bubble, we document substantial positive abnormal returns around the announcement and execution of stock splits in Cyprus. Split-induced returns cannot be explained by variables proxying for conventional liquidity and signalling hypotheses for stock split activity, and are largely reversed in the post-split months. Post-spl...

Efficiency of Trade Equilibria in the World Oil Market

1988 The c o n t e n t s of t h i s p a p e r do n o t r e p r e s e n t t h e views of t h e Members of t h e Oxford I n s t i t u t e f o r Energy S t u d i e s .

An Irrational Black Market? Boundary work perspective on the stigma of in-game asset transaction

This article looks at the negative images on cash trades of in-game assets in Taiwan, through interview of participants in this activity, we believe the blurring of boundaries between work and play, adulthood and adolescence, real and virtual is what distinguishes this market from previous markets of virtual goods, resulting in its social stigma. We then discuss how the participants confront th...