With the trend of globalization, supply chains are increasingly extended and uncertainties associated with material flow along the supply chain have become a major challenge in the planning process. In this study, we examine the effect of supply uncertainty on dynamically managing a two-stage supply chain under both centralized and decentralized controls. Specifically, the downstream faces dema...

How do dividend policy decisions affect a firm’s stock price, is a widely researched topic in the field of investments and finance but still it remains a mystery that whether dividend policy affects the stock prices or not. There are those who suggest that dividend policy is irrelevant because they argue a firm’s value should be determine by the basic earning power and business risk of the firm...

This paper investigates the response of US stock market uncertainty to monetary policy of the Federal Reserve Bank. It can be shown that monetary policy signifi cantly Granger-causes stock market confi dence. By using monthly closing prices of the V IX as a stock market uncertainty proxy and a copula-based Markov approach the stable nonlinear relation between confi dence and uncertainty is demo...

This paper analyzes the stability of the exchange rate in an economy with noise traders. Noise trading is restricted to agents investing in the domestic stock market. The agents pricing foreign exchange hold rational expectations. Monetary policy is affected by the behavior of investors in the domestic stock market and in turn affects fundamental stock evaluations as well as noise trading. We s...

a r t i c l e i n f o Keywords: Stock returns Policy risks Technological risks US stock market This study examines the role of policy and technological risk on U.S. stock returns. The results will highlight the effect of economic policy uncertainty on stock returns, given that such uncertainty rose to historically high levels after the recession of 2007–2009. In our case, uncertainty is related...

Most models of multilevel production and distribution systems assume unlimited production capacity at each site. When capacity limits are introduced, an ineffective policy may lead to increasingly large order backlogs: The stability of the system becomes an issue. In this paper, we examine the stability of a multi-echelon system in which each node has limited production capacity and operates un...

Effective tradingwith given pattern-based multi-predictors of stock price needs an intelligent asset allocation strategy. In this paper, we study a method of dynamic asset allocation, called the meta policy, which decides how much the proportion of asset should be allocated to each recommendation for trade. The meta policy makes a decision considering both the recommending information of multi-...

In this paper we consider a two-echelon supply chain system consisting of a supplier and a retailer. The supplier has an inventory system and a service unit to process the orders received from the retailer. Demands arrive to the retailer according to a Poisson process. Both supplier and retailer apply one-for-one ordering policy. The supplier’s lead time and the service time of his service unit...

Understanding the impact of external shocks on stock markets returns and volatility is crucial for market participants as volatility is synonymous with risk. The focus of this paper is to determine whether the US monetary policy decisions influence the stock market returns and volatility in Egypt, Israel, and Turkey. Efficient markets react to new information; hence a greater response would be ...

A stream is a continuous version of a supply chain. It is like a series inventory system, but stock can be held at any point along a continuum, not just at discrete stages. We assume stationary parameters and aim to minimize the long-run average total cost. We show that a stationary continuous-stage echelon base-stock policy is optimal. That is, at each geographic point along the supply stream,...