We examine whether short sellers predominantly target stocks with recent price declines, amplifying the price decline and resulting in prices falling below fundamental values, or target apparently overpriced stocks facilitating prices that reflect fundamental values. We find evidence of short-sellers holding significant positions in stocks following price declines, and of short-sellers increasi...

Previous studies find that small stocks have higher average returns than large stocks, and the difference between the returns can not be accounted for by the systematic risk, b. In my analysis of Compustat and CRSP data from 1976 to 1995, and simulation experiments based on the data, I find the size effect can be largely explained by data truncation that is caused by survival. Small stocks’ ret...

This study contrasts the call and continuous auction methods using Taiwan Stock Exchange data. Volatility under the call market method is approximately one-half of that under the continuous auction method. The call market method is more effective in reducing the volatility of high-volume stocks than low-volume stocks. This contradicts conventional wisdom which suggests that the call market meth...

common stock is the most important and popular instrument in our capital market. every day, large volumes of stocks are traded on the tehran stock exchange and their ownership is transferred from one investor (natural or fictitious persons) to others. 'sales' is the term commonly used for this act in capital market and among investors. our hypothesis is that the common stocks could be...

Empirical evidence indicates that trades by institutional investors have sizable effects on asset prices, generating phenomena such as index effects, asset-class effects and others. It is difficult to explain such phenomena within standard representative-agent asset pricing models. In this paper, we consider an economy populated by institutional investors alongside standard retail investors. In...

Existing studies find that compared to non-lottery stocks, lottery-like stocks tend to be overpriced and earn lower subsequent returns, probably due to investor preferences for lottery-like assets. We argue that investor preferences for holding speculative assets are more pronounced ahead of firms’ earnings announcements, probably due to lower inventory costs and immediate payoffs. We show that...

Flagellate infections were found in 1,063 of 18,895 sand flies collected in the states of Amazonas, Pará, Rondonia and Acre, Brazil. Infection rates were 13.4% (species group Shannoni); 7.5% (subgenus Nyssomyia); 6.7% (subgenus Lutzomyia series Cruciata); 0.5% (genus Psychodopygus) and 3.1% for other sand flies (various subgenera). Leishmania braziliensis guyanensis and L. mexicana amazonensis ...

Statistical analysis of financial time series is studied. We use wavelet analysis to study signal to noise ratios along with auto-correlation function to study correlation length for time series data of daily stock prices for specific sectors of the market. We study the ”high beta” stocks versus the ”low beta” stocks. We sample ten companies from both of these sectors. We find that the signal t...

Drosophila stocks bearing compound chromosomes, single molecules of DNA that carry the genomic complement of two chromosomes, are useful tools for studying meiosis and mitosis. However, these stocks cannot easily be crossed to stocks with regular chromosomes, due to the lethality of the resulting whole-chromosome aneuploidy. This prevents the examination of interesting genetic variants in a com...

The finding that stocks with high idiosyncratic volatility tend to have low future returns, as first documented in Ang, Hodrick, Xing, and Zhang (2006), has been dubbed as the idiosyncratic volatility anomaly in the finance literature. Several studies have since explored various potential explanations of the anomalous relation between idiosyncratic volatility and stock returns. Some studies eve...