This research aims to analyze the determinants of stock return disclosure mining sector companies listed on Indonesia Stock Exchange in 2014-2018. The adopted Eviews program data processing and Random effect regression model was chosen test relationship between internal external indicators as independent variables include Return On Asset (ROA), Debt Equity Ratio (DER), Total Turnover (TATO), Oi...

Trading frictions in financial markets affect more long-term than short-term bonds, generating an upward-sloping yield curve. Long-term financing is expensive economies with higher trading so firms choose to borrow and invest shorter horizons lower productivity projects. The theory guides a new identification of the slope liquidity spread data. We measure calibrate model for United States, coun...

In recent decades, financial securities have become a dominant form of private property, accounting for much the growth wealth around world. But what kind property are securities? What sources income they provide, and social relations that underlie its flow? This article addresses these questions through Marxist category fictitious capital. Focusing on corporate stocks bonds, shows expressed in...

Allosteric modulation of membrane receptors is a widespread mechanism by which endogenous and exogenous agents regulate receptor function. For example, several members of the nicotinic receptor family are modulated by physiological concentrations of extracellular calcium ions. In this paper, we examined conformational changes underlying this modulation and compare these with changes evoked by A...

We propose a model of banks’ exposure to movements in interest rates and their role the transmission monetary shocks. Since bank deposits provide liquidity, higher allow banks earn larger spreads on deposits. Therefore, if risk aversion is than one, optimal dynamic hedging strategy take losses when rise. This can be achieved by traditional maturity-mismatched balance sheet amplifies effects sho...

We build a model in which the Fed and market disagree about future aggregate demand. The anticipates monetary policy “mistakes,” affect current demand induce to partially accommodate market’s view. expects implement its view gradually. Announcements that reveal an unexpected change Fed’s belief provide microfoundation for shocks. Tantrum shocks arise when misinterprets overreacts announcement. ...

The paper shows that lottery-like stocks are hedges against unexpected increases in market volatility. The loading on the aggregate volatility risk factor explains low returns to stocks with high maximum returns in the past (Bali, Cakici, and Whitelaw, 2011) and high expected skewness (Boyer, Mitton, and Vorkink, 2010). Aggregate volatility risk also explains the new evidence that the maximum e...

By using the recent Gertler and Kiyotaki’s (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and …nancial shocks. We …nd that neither labor market imperfections nor …scal institutions determining tax wedges have an impact on the volatility of the real economy induced by a …nancial shock. By contrast, real wage rigidities matte...

In this paper we re–examine banks’ lending behavior taking into account changes in the stance of monetary policy in conjunction with changes in financial sector uncertainty. Using a very large data set covering all banks in the US between 1979–2000, we show that financial sector uncertainty plays an important role in banks’ lending decisions: for a given size classification, less liquid banks (...