working capital management is an essential part of the short-term finance of a firm. with an efficient working capital management, a firm can release capital for more strategic objectives, reduce the financial costs, and improve profitability. the present research studies the relationship of working capital management on performance of firms listed in tehran stock exchange (tse). average collec...

97% of orders in US stock markets are cancelled before they trade, straining market infrastructure and raising concerns about predatory or manipulative trading. To understand the drivers these extreme cancellation rates, we develop a simple model liquidity provision find that growth order-to-trade ratios (OTTRs) is driven by fragmentation trading technological improvements lower monitoring cost...

Globalization, internationalization, integration, deregulation, as well as technological advances have provided the impetus for mergers of stock exchanges to facilitate cross-border listings and trading. Cross-border mergers trigger a series of different issues to be analyzed. The focus of our analysis will be on regulatory and competition law issues arising from cross-border stock exchange mer...

Price limit trading rules are adopted in some stock markets (especially emerging markets) trying to cool off traders' short-term trading mania on individual stocks and increase market efficiency. Under such a microstructure, stocks may hit their up-limits and down-limits from time to time. However, the behaviors of price limit hits are not well studied partially due to the fact that main stock ...

What happens when uninformed investors trade stocks via mobile phones? Do they react to social sentiment differently than more informed traders in traditional trading? Based on 16,817 data observations and econometric analysis for the trading of 251 equities in Korea over 39 days, we present evidence of herding behavior among uninformed traders in the mobile channel. The results indicate that m...

Are Stock Returns Different over Weekends? A Jump Diffusion Analysis of the " Weekend Effect " T he distribution of returns on common stocks is, arguably, one of the most widely studied financial market characteristics. Among the questions addressed by these studies are the following: Is the return on common stocks normally distributed, as much finance theory assumes? How many stocks should be ...

With an easy access to share information and data nowadays, many investors worldwide are interested in predicting stock prices. The prediction of stock prices using data mining techniques applied to technical variables has been widely researched but not much research to date has been done in applying data mining techniques to both technical and fundamental information. This paper is based on a ...

The goal of this chapter is to examine whether the time series of returns of securities listed on Taiwan’s stock exchange exhibit significant nonlinear serial dependencies, as do those of other stock exchanges throughout the world, and, if so, to examine the pervasiveness of such dependencies across the individual stocks trading on the Taiwan Stock Exchange. First, an examination of the charact...

We analyze the relations between the stock market and a stock bulletin board system (BBS) in Japan. Previous studies in the USA found that the characteristics of messages posted on stock BBSs can predict market volatility and trading volume. We develop hypotheses based on the results of those analyses and apply statistical analysis to the data about companies mentioned in a large number of mess...