A model of competitive stock trading is developed in which investors are heterogeneous in their information and private investment opportunities and rationally trade for both informational and noninformational motives. I examine the link between the nature of heterogeneity among investors and the behavior of trading volume and its relation to price dynamics. It is found that volume is positivel...

I n this paper, trading symbols of the 30 largest companies listed in the Tehran Stock Exchange (TSE) were ranked based on the asymmetry information risk. Using the Ersan and Alici (2016) modified clustering algorithm (EA), we estimated the probability of informed trading (PIN) to measure the asymmetry information among traders for each trading symbol and trading day through two-year...

This study uses econometric methods to reveal the relationship between highest price formation and trading volume in share indices of energy oil companies traded on Kazakhstan Stock Exchange (KASE). The used daily transaction data KEGC, KZAP, KZTO for 200 days 2022. analysis is based VAR method. shock effect concluded that there a mutual interaction all three companies. Trading had causal only ...

The Second Board Market is typical stock market for high tech companies in China. This paper discusses the relationship between trading volume and price changes in the case of high-tech listed companies in the Chinese Second-Board Stock Market. By using the basic concepts proposed by Kim and Verrecchia, and Kandel and Pearson, and contrasting them with ex-post information from earnings releases...

This article focuses on the involvement of Siemens in the market for radiology equipment in Japan between 1900 and 1945. It explores why the German multinational company was unable to keep its dominant position in the Japanese market in the interwar years despite its technological competitiveness. At this time the Japanese medical market was already well structured when the country opened up to...

This extended abstract presents a synthesis of our work concerning a parallel algorithm for Vehicle Routing Problem with Time Windows (VRPTW). Two colonies work in parallel and cooperate to solve the problem, each one being charged with an objective of the optimization. In addition, the importance of these objectives can vary, depending on some environmental changes. This approach introduces a ...

The successful integration of data from autonomous and heterogeneous systems calls for the resolution of semantic conflicts that may be present. Such conflicts are often reflected by discrepancies in attribute values of the same data object. In this paper, we describe a recently developed prototype system, DIRECT (DIscovering andREconciling ConflicT s). The system mines data value conversion ru...

We document significant increases in short positions on days when company insiders sell their firms’ shares. Short selling increases before insider sales are publicly reported and often before insiders finish selling. Furthermore, the magnitude of short selling activity is consistent with short sellers’ knowledge of the insider’s rank (e.g., CEO, CFO, or a lower-ranked manager) and with knowled...

This project involves discovering how the company’s stock performs in after-hours on the release day of its quarterly financial report and the day after. Project aims to use a variety of machine learning models to make predictions regarding the stock price movements based on the factors that reflect and affect investor reactions, namely, media coverage of financial news, companys’ quarterly fin...