The purpose of this report is to review the evidence on the profitability of technical analysis. To achieve this purpose, the report comprehensively reviews survey, theoretical and empirical studies regarding technical trading strategies. We begin by overviewing survey studies that have directly investigated market participants’ experience and views on technical analysis. The survey literature ...

When a firm implements analytical CRM, the value of a customer is assessed by profitability analysis. In a sense, a firm retains profitable customers but “fires” unprofitable ones. In this paper, we show that this typical customer selection strategy is not appropriate for a firm of goods and services that exhibit network externalities because of the strategic network value of unprofitable custo...

This paper develops a theory that predicts why firms organize their knowledge workers as employees vs. independent contractors and predicts the performance implications of this choice. It then employs a newly constructed data set to empirically examine this organizing choice, which our theory predicts will be driven by contracting difficulties arising from expropriation concerns, measurement co...

This study estimates the multi-component efficiency of banks under financial holding companies, including profitability and marketability efficiencies, by utilizing a RAM (Range-adjusted measure) variation model. The analysis process uses the three-dimensional BCG (Boston Consulting Group) matrix created by this study. We find that although semi-publicly-owned banks under financial holding comp...

In this paper, we document that an application of a moving average timing strategy of technical analysis to portfolios sorted by volatility generates investment timing portfolios that substantially outperform the buy-and-hold strategy. For high-volatility portfolios, the abnormal returns, relative to the capital asset pricing model (CAPM) and the Fama-French 3-factor models, are of great econom...

We report evidence on the profitability and statistical significance among 2,127 technical trading rules. The best rules are found to be significantly profitable based on standard tests. We then employ White’s (2000) Reality Check to evaluate these rules and find that data-snooping biases do not change the basic conclusions for the full sample. A sub-sample analysis indicates that the data-snoo...

In this article, we present a model to evaluate both marketable quality and profitability considering service providers and consumers relation. We use the real values of some leading Japanese manufacturing corporations as virtual data of service providers to our proposed model to analyze its accuracy. By analysis, we found that the theoretical and real standard values of the marketable quality ...

The use of technical indicators to derive stock trading signals is a foundation of financial technical analysis. Many of these indicators have several parameters which creates a difficult optimization problem given the highly non-linear and non-stationary nature of a financial timeseries. This study investigates a popular financial indicator, Bollinger Bands, and the fine tuning of its paramete...

FRIEBEL LUDVÍK, FRIEBELOVÁ JANA, KERNEROVÁ NADĚŽDA. 2016. Stochastic Analysis of Profi tability of the Pig Breeding Process. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 64(1): 255–264. This study deals with the economy of agricultural production, specifi cally in animal farming. The main goal is to fi nd and apply an effi cient simulation model of pig breeding proces...