In this article we generalize the notion of the deviation measure, which were initially defined on spaces of squarely integrable random variables, as an extension of the notion of standard deviation. We extend them both under a frame which requires some elements from the theory of partially ordered linear spaces and also under a frame which refers to some closed subspace, whose elements are sup...

Information opacity leads to information asymmetry. In this situation, in providing their own financial needs, firms face limitations and inevitably provide their financial needs from the debt market by signalling private information to it. In addition, information opacity affects the leverage adjustment speed. This research investigates the effect of information opacity on deviation from targe...

Valuation error and valuation index smoothing have been the subject of a great deal of recent research efforts, largely due to concerns over the quality of investment decisions that can be made using valuation-based data. To date, unsmoothing models have assumed that the variances in valuation noise and market noise are at a constant ratio, producing a constant unsmoothing parameter. This paper...

In this study, the effect of management entrenchments on the speed of cash holding adjustment in Iran has been investigated. After designing the management entrenchment evaluation indicators, the transaction information was collected from the Stock Exchange in the five-year period of 2011-2015. The statistical sample consists of 155 companies selected by systematic deletion method. In this rese...

Risk management is essential in a modern financial services industry. Derivative instruments like options have a particular status. Appropriate derivatives allow financial service providers to redistribute risks towards others. The process of creating customer tailored derivatives is not wellinvestigated today. With the financial information system (FIS) WARRANT-PRO-2 derivative prices are comp...

This paper presents a text mining methodology to extract outlying knowledge from a collection of financial statements. The main idea is to extract relevant financial performance indicators and discover implicit textual description of the indicators. The extracted information was represented using a network language i.e. conceptual graph. Outlier mining was performed on the conceptual graph repr...

It is well known that stock market returns are uncorrelated on lags larger than a single day, in agreement with the hypothesis of efficient market. On the contrary, absolute returns have memory for longer times; this phenomenon is known in financial literature as clustering of volatility. In ARCH-GARCH models [1–3], volatility memory is longer than a single time step but it decays exponentially...

The paper adopts from the investment behavior theory and studies the affecting factors of financial investors in investment decision-making and the investment fund behavioral deviation. At the same time, the thesis also analyzes the efficiency of asset allocation and investment behavior of China's securities investment funds, and studies its impact on China's securities market. On the basis of ...