real exchange rate is one of the most important macroeconomic variables which affects various economic sectors. as the effect of real exchange rate variation is not equal in different sectors and due to importance of industrial development in economic development of country, this paper have investigated the effect of real exchange rate changes on  8 manufacturing subsectors over the period 1353...

A security design model shows that multinational firms needing to finance their operations should issue different securities to investors in different countries in order to aggregate their disparate information about domestic and foreign cash flows. However, if the firm becomes bankrupt, investors may face uncertain costs of reorganizing assets in a foreign country and thus may value foreign as...

The majority of empirical literature on random walk behavior has interested on developed and emerging markets. However, few studies have been carried out to test the randomness of returns series on less developed markets. Damascus securities exchange is a young and nascent market in the Middle Eastern, started its operations in 2009; therefore, there is no empirical evidence testing the validit...

A quantum financial approach to finite games of strategy is addressed, with an extension of Nash’s theorem to the quantum financial setting, allowing for an entanglement of games of strategy with two-period financial allocation problems that are expressed in terms of: the consumption plans’ optimization problem in pure exchange economies and the finite-state securities market optimization probl...

In the fair exchange problem, mutually untrusting parties must securely exchange digital goods. A fair exchange protocol must ensure that no combination of cheating or failures will result in some goods being delivered but not others, and that all goods will be delivered in the absence of cheating and failures. This paper proposes two novel randomized protocols for solving fair exchange using s...

The science of marketing focuses on exchange relationships (Hunt 1991) is based on explanatory concepts inherited from economics more than a century ago. Classical and neoclassical economics look at relationships among supply, demand, and value of tangible goods, especially manufactured goods. This limited focus, in turn, is rooted in the philosophical and scientific thought that preceded the d...

This paper divides the energy market into futures and new stock market. At same time, closing price of Shenzhen carbon emission rights is used to represent price, composite index China Securities Exchange listed companies price. VAR model MSVAR are empirically study relationship between three variables nonlinear them. results show that there will be more complex among company shows market, pres...

This paper investigates the role of basket securities in the efficient price formation process of individual component securities. The study focuses on one type of basket security, exchange traded funds (ETFs), which includes some of the most actively traded securities in the U.S. equity market. A multi-asset variance decomposition methodology is developed to measure the information contributio...