Equity studies are conducted by professionals, who also provide buy/hold/sell recommendations to investors. Nowadays, target prices determined financial analysts publicly available investors, may decide use them for investment purposes. Studying the accuracy of such analysts’ forecasts is, thus, paramount importance. Based upon empirical data on 50 biggest (larger capitalisation) European stock...

Mining textual documents and time series concurrently, such as predicting the movements of stock prices based on the contents of the news stories, is an emerging topic in data mining community. Previous researches have shown that there is a strong relationship between the time when the news stories are released and the time when the stock prices fluctuate. In this paper, we propose a systematic...

We investigate whether the accruals anomaly (Sloan 1996), characterized by U.S. stock prices over-weighting the role of accrual persistence and under-weighting the role of operating cash flow persistence for future earnings, is a local manifestation of a global phenomenon. Hence, we examine whether stock prices in six other major capital markets and Japan) fully reflect the implications of the ...

This paper explores the interaction mechanism between asset price volatility and financial exposure by using prices of real estate and stock market. To this end, some dynamic econometric methods such as cointegration, IRF and so on are used to analyze the data based on Eviews software. Results show that inter-influences have been found between real estate prices and banking credit, with the for...

Mining textual documents and time series concurrently, such as predicting the movements of stock prices based on the contents of the news stories, is an emerging topic in data mining community. Previous researches have shown that there is a strong relationship between the time when the news stories are released and the time when the stock prices fluctuate. In this paper, we propose a systematic...

This paper uses an innovative method through combining autoregressive distributed lag model and a quantile regression, called a quantile autoregressive distributed lag model, to examine the dynamic long-run equilibrium and short-run causal relationship between the stock price of China and the RMB/USD exchange rate from January 1994 to June 2016. The results indicate that there is long-run coint...

This thesis tries to answer the question how to predict the reaction of the stock market to news articles using the latest suitable developments in Natural Language Processing. This is done using text classification where a new article is matched to a category of articles which have a certain influence on the stock price. The thesis first discusses why analysis of news articles is a feasible ap...

This paper investigates how stock prices of high-litigation-risk industries reacted to the news on legal changes in shareholder derivative suits in Japan. Specifically, we focus on two amendments to the Japanese Commercial Code. The 1993 Commercial Code amendments lowered the filing fees required to bring derivative actions, while the 2001 Commercial Code amendments attempted to reduce abusive ...

Fast forecasting of stock market prices is very important for strategic planning. In this paper, a new approach for fast forecasting of stock market prices is presented. Such algorithm uses new high speed time delay neural networks (HSTDNNs). The operation of these networks relies on performing cross correlation in the frequency domain between the input data and the input weights of neural netw...