The neoclassical theory of investment implies that expected stock returns are tied with the expected marginal benefit of investment divided by the marginal cost of investment. Winners have higher expected growth and expected marginal productivity (two major components of the marginal benefit of investment), and earn higher expected stock returns than losers. The investment model succeeds in cap...

The relationship between the quality of finishing works, costs, market value, and profit, is presented and explained for residential buildings. The results show that the higher quality of finishing works increases profit for investors. As the maximum market price is limited, there is a limit when the investment in finishing work is no longer cost-effective as, after increase in costs, the marke...

The purpose of this paper is to examine the impact accounting fraud on reliability profits after completion corrections by focusing period submission correction reports companies that corrected their securities was discovered. We tested effect examining whether and similar without are reflected in stock prices same way. results show if a company profitable both years immediately before correcti...

The cross-border securities settlement in Europe is still said to be highly inefficient. One main reason can be seen in technical barriers between the different domestic settlement systems. Beside efforts to implement industryspecific communication standards an integration of the different settlement systems is necessary. The CSD-link model, the hub and spokes model, and the European CSD model ...

We consider an economy with an incomplete securities market and heterogeneously informed investors. Each investor trades in the market to hedge the risk to his endowment and to speculate on future security payoffs using his private information. We examine the efficiency of the securities market in allocating risk and transmitting information under different market structures, as defined by the ...

The paper shows that Islamic securitization through Sukuk securities is vital in fostering the capital market. investments entail investors and issuers to follow a set of nuanced moral ethical principles beyond maximizing profit. As measured by social trust, investor trust could be critical worldwide investment boom. Therefore, primary objective article demonstrate impact bonds guaranteeing stu...

sset securitization — transforming illiquid assets into tradable securities — is a large and growing market, even rivaling the corporate debt market in size. While the underlying assets can be very different — ranging from song royalties to home mortgages — most asset-backed securities nevertheless share some distinctive features. In “The Economics of Asset Securitization,” Ronel Elul explains ...

GROWING BODY OF theoretical literature, known as the study of securities market microstructure, deals with the behavior of participants in securities markets and with the effects of information and institutional rules on the economic performance of those markets. These institutional factors may arise from technology, tradition or regulation. Microstructure and its impact are important, because ...