Market Timing and Security Market Line Analysis

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

study of security selection and market timing abilities in mutual funds in iranian capital market

this study is an attempt to apply the market timing andsecurity selection models to evaluate the performance of iranianmutual funds. the research shed light on the questions of ‘howsuccessful are mutual funds in earning excess returns over those of themarket?’ ‘do the excess returns during research period have anymeaningful trend for these financial intermediaries or is it the result ofthe abil...

متن کامل

Security analysis and market making

In this paper we analyze the interrelatedness of security analysis and market-making activities. Our results indicate that there exists a bidirectional and positive relation between analyst following and the number of market makers. Using detailed data on analyst and dealer affiliations, we also find that dealers are more likely to make markets in stocks that are tracked by analysts who are aff...

متن کامل

Quality Competition and Market Segmentation in the Security Software Market

Setting u n+1 = 1, from Figure 2, we can find the market coverage of θ j , j = 1, 2, …, n, as x j = u j+1 – u j , which can be summed over j to obtain u i = 1 – G n j =i x j. Substituting this into (2) for i = 1 and noting that p 0 = θ 0 = 0, we find (A1) p G u G x j j n 1 11 1 1 1 = = −       =  θ θ We will now prove the lemma by induction. It is clear that (3) reduces to (A1) for i = 1...

متن کامل

Optimal Timing for Market Entry

This paper considers the optimal market entry timing of a firm facing price uncertainty and investment irreversibility. When the entry decision is made, the firm has to pay the necessary investment costs and from then onwards will receive the expected future cash-flows. The total expected income of the investment is given by the sum over time of the expected discounted future cash-flows. For th...

متن کامل

Market-timing Strategies That Worked

In this paper, we present a few simple market-timing strategies that appear to outperform the “buy-and-hold” strategy, with real-time data from 1970 to 2000. Our focus is on spreads between the E/P ratio of the S&P 500 index and interest rates. Extremely low spreads, as compared to their historical ranges, appear to predict higher frequencies of subsequent market downturns in monthly data. We c...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2003

ISSN: 1556-5068

DOI: 10.2139/ssrn.385722