this paper presents a new index of financial stress which is constructed by macro data from different financial markets (including banking sector and also housing, foreign exchange and stock markets). the proposed approach has been applied to the iranian economy based on the available quarterly time series, covering the period 1991(1)–2008(2). the paper explains how the selected components capt...

This paper attempts to deal with a ranking problem with a collection of financial reports. By using the text information in the reports, we apply learning-to-rank techniques to rank a set of companies to keep them in line with their relative risk levels. The experimental results show that our ranking approach significantly outperforms the regression-based one. Furthermore, our ranking models no...

Since the 1997 reform FTSE 100 stocks trade on the London Stock Exchange in a fragmented market. These stocks can be traded either on the electronic order book, SETS, or through dealers posting voluntary quotations. The UK regulator does not enforce any quote display requirement, and best execution requirements are satisfied when prices for off-SETS trades are at least as good as the prices ava...

In this paper, we study the relationship between prevention and savings and analyze their socially optimal levels. In a first part, we analyze optimal decisions of primary prevention and savings when individuals face a health risk involving expenses that can not be covered by any insurance (private or public). We take into account the possibility for the individuals to underestimate or overesti...

Uncertainty inherent in the financial market was usually consid- ered to be random. However, randomness is only one special type of uncer- tainty and appropriate when describing objective information. For describing subjective information it is preferred to assume that uncertainty is fuzzy. This paper defines the expected payoof trading strategies in a fuzzy financial market within the framewor...

information asymmetry is a negative event that gives manager incentives to use his private information to attempt transferring wealth from investors by overstating financial performance and consequently, stock prices during his tenure at the firm. the manipulations generate agency costs. conservative reporting is a mechanism that reduces the managers’ ability to manipulate and overstate financi...

the present research was conducted to build a conceptual model of internal effective factors of small and medium enterprises in mazandaran province. to accomplish the goal of the research first, a complete review of the related literature was conducted. second, questionnaires were given to the corresponding population. finally, the gathered data were calculated and analyzed using spss, excel an...

introduction: the quality of the information provided in the public sector is of a high importance due to the specific purpose of reporting. presenting reliable, complete, and timeliness information of the activities in the governmental sector by using desirable public sector accounting system provides a better opportunity for people's monitoring on the offering of governmental services, transp...

I present some debatable propositions about financial systems and financial cryptography. (Warning: the propositions expressed may or may not be believed by the author, and may be phrased in a deliberately provocative manner. They may contradict each other. This paper follows the author's slides closely, and does not have all of the ancillary comments of the author and the audience.) 1 I n t e ...

In this paper we work with nonparametric methods in modeling and analyzing the financial times series. We use the concept of fractal dimension for measuring the complexity of time series of observed financial data. The aim of this paper is to distinguish between the randomness and determinism of the financial information. We will compare the fractal analysis of the selected forward exchange rat...