Barber and Odean (2000) study the relationship between trading frequency and returns. They find that households who trade more frequently have a lower net return than other households. But all households have about the same gross return. They argue that these results cannot emerge from a model with rational traders and instead attribute these findings to overconfidence. Using a dynamic optimiza...

according to the recent literature, the expansion of intra-industry trade increases the intra-industrial excess job reallocation. based on lovely and nelson (2002), this study examined the hypothesis that marginal intra-industry trade has a positive effect on the excess job reallocation in iranian industries. therefore, we have employed a panel technique for iranian manufacturing industries at ...

return and volatility spillovers are important for portfolio selection, asset valuation and market efficiency investigation. using a var-bekk framework model, this paper investigates return and volatility spillover effects between three size-sorted equity indices in tehran stock exchange (tse). although daily return of large stocks leads small stocks (lead-lag effect), there wasn’t any spillove...

One of the main functionalities of capital market is to enhance liquidity in the market. Mutual funds are modern financial institutions which are designed with the aim of absorbing funds from investors and devote them to buy a variety of securities in order to reduce investment risks, exploit the economies of scale and finally make a reasonable return for investors. Regarding effective role of ...

This paper investigates a dynamic CAPM in which investors may trade in put option contracts which are zero in net supply. In each period, stock and option prices are endogenously and simultaneously determined by market clearing in the respective markets. We investigate how these endogenously formed option prices impact on prices and portfolio allocations. The introduction of a put-option market...

This research studies the companies’ effectiveness and performance relationship with stock market liquidity in Tehran Stock Exchange during 2010-2015. Simultaneously, in the study, the three indicators: return on assets, return on investment and Tobin's Q ratio were applied as a measure of the performance and bid-ask spread as a measure of liquidity, bid-ask spread to the stock market. This res...

Financial markets are one of the most fundamental markets in any country. In the financial markets, the securities market and the foreign exchange market are sensitive sectors. These two markets are affected by fluctuations and economic cycles so reflect economic changes rapidly. Changes in the returns of one market due to arbitrage conditions during time lead to changes in the returns of other...

If global trade were fair, it is argued, then international aid would be unnecessary and inequalities inherent to the economic system would be justifiable. Here, we argue that while global trade is unfair, in part because richer countries set the rules, we believe that additional interventions must go beyond trade regulation and short-term aid to redress inequalities among countries that will p...

studying risk and frequency analysis of flood is done in order to design structures located in floody lands. in hydrological and water resources engineering projects, first of all, we should determine frequency of this phenomenon- their return period. in this research, the method of planning, the cumulative freguency curve is explained and probability and return period and errors concerning sma...