منابع مشابه
Index Investment and the Financialization of Commodities
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When the discount rate falls, investment should rise. Thus with time-varying discount rates and instantly changing investment, investment should positively covary with current stock returns and negatively covary with future stock returns. Aggregate nonresidential U.S. investment contradicts both these implications, probably because of investment lags. Investment plans, however, satisfy both imp...
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Changes in stock prices have substantial explanatory power for U.S. investment, especially for longterm samples, and even in the presence of cash flow variables. The stock market dramatically outperforms a standard q-variable because the market-equity component of this variable is only a rough proxy for stock market value. Although the stock market did not predict accurately after the crash of ...
متن کاملStock Investment with Stochastic Programming∗
In this paper, we propose the stochastic programming (SP) model with risk measure conditional value at risk (CVaR) for investing stocks in Taiwan stock market. In each period of investment, 200 scenarios are generated for solving SP, and the CVaR is utilized to manage the risk. The experiment interval starts from 2005/1/1 and ends on 2013/12/31, which has totally 2235 trading periods. The exper...
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This paper applies free cash flow and information asymmetry hypotheses to investigate whether managers pursuit their private benefits by using capital investment expenditure (hereafter CI) increases or not, and to explore whether managers decrease CI as more dividend payments under information asymmetry hypothesis. Consequently, the present study investigates the effect of CI increases on abnor...
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ژورنال
عنوان ژورنال: SAGE Open
سال: 2014
ISSN: 2158-2440,2158-2440
DOI: 10.1177/2158244014548846