Analysis Of The Korean Stock Market: Behavioral Finance Approaches
Title | Analysis Of The Korean Stock Market: Behavioral Finance Approaches PDF eBook |
Author | Kim Keunsoo |
Publisher | World Scientific |
Total Pages | 292 |
Release | 2018-05-18 |
Genre | Business & Economics |
ISBN | 9813236779 |
The Korean stock market, ranked 11th in the world in terms of market capitalization of stocks in 2017, is a globalized market. Foreign investors hold close to one-third of stocks listed on the Korea Exchange (KRX) as of May 2017 (in terms of market capitalization). The US and the UK alone account for almost 50% of foreign ownership in the KRX. Research or information on the Korean stock market, however, is not well known to the domestic or the global investment communities. There are minimal investment studies that deal with practical issues from the perspective of investment analysts. This volume bridges the academic and investment communities by providing analyses of the Korean stock market that contain practical values. This book comprehensively analyzes anomalies in the Korean stock market, including time series anomalies such as the January effect, cross-sectional anomalies such as the size effect and book-to-market effect, and anomalies related to corporate events. The authors also investigate sales revenue, profitability, valuation (M/B ratio), and the financial risk of listed companies in the Korean stock market at both the sectoral level and industrial level. As the study uses a comprehensive data set and long-term sample period, readers can benefit from consistent and comparable empirical results. Contents: Korean Capital Market Behavioral Approaches Seasonal Anomalies Cross-Sectional Anomalies Corporate Event Industry Analysis Readership: Professional investors and academicians who are interested in the Korean stock market, Korean and foreign institutional investors, graduate scholars studying the Korean stock market. Keywords: Korean Stock Market;Market Predictability;Trading Behavior;Seasonal Effect;Cross-Sectional Anomalies;Industry Analysis;History of Korean Stock MarketReview:0
The Korean Stock Market
Title | The Korean Stock Market PDF eBook |
Author | Sung Soo Koh |
Publisher | |
Total Pages | 298 |
Release | 1989 |
Genre | Capital market |
ISBN |
The Semi-strong Efficiency of the Korean Stock Market
Title | The Semi-strong Efficiency of the Korean Stock Market PDF eBook |
Author | Jinho Jeong |
Publisher | |
Total Pages | 10 |
Release | 1994 |
Genre | Efficient market theory |
ISBN |
Are Stock Markets Efficient? (Price-Earnings Ratio Approach)
Title | Are Stock Markets Efficient? (Price-Earnings Ratio Approach) PDF eBook |
Author | Tasoh Toh |
Publisher | |
Total Pages | 15 |
Release | 2018 |
Genre | |
ISBN |
This study investigates the relationship between Price-Earnings ratio and return on stocks. The result is use to appraise the efficiency of the Korean stock market. Findings statistically oppose S. Basu (1977) results. He realized Price-Earnings ratio effect but this study found no statistical evidence supporting the relationship between Price-Earnings ratio and return on common stock. Using Fama and Macbeth (1973) methodology of portfolio formation, the investigation could notice any statistical Price-Earnings ratio nor size effect. If a test of financial market efficiency depends on Price-Earnings ratio and size effect only, then Korean stock market is efficient, however, within this context, it is difficult to determine the extent (weak, semi strong or strong) to which the market is efficient. Further study on bid-ask spread (measure of information asymmetry) will assist to determine the level to which the Korean financial market is efficiency.
Geopolitical Risk on Stock Returns: Evidence from Inter-Korea Geopolitics
Title | Geopolitical Risk on Stock Returns: Evidence from Inter-Korea Geopolitics PDF eBook |
Author | Seungho Jung |
Publisher | International Monetary Fund |
Total Pages | 36 |
Release | 2021-10-22 |
Genre | Business & Economics |
ISBN | 1557759677 |
We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable geopolitical swings that originate from North Korea. To do so, a monthly index of geopolitical risk from North Korea (the GPRNK index) is constructed using automated keyword searches in South Korean media. The GPRNK index, designed to capture both upside and downside risk, corroborates that geopolitical risk sharply increases with the occurrence of nuclear tests, missile launches, or military confrontations, and decreases significantly around the times of summit meetings or multilateral talks. Using firm-level data, we find that heightened geopolitical risk reduces stock returns, and that the reductions in stock returns are greater especially for large firms, firms with a higher share of domestic investors, and for firms with a higher ratio of fixed assets to total assets. These results suggest that international portfolio diversification and investment irreversibility are important channels through which geopolitical risk affects stock returns.
Technical Analysis of the Financial Markets
Title | Technical Analysis of the Financial Markets PDF eBook |
Author | John J. Murphy |
Publisher | Penguin |
Total Pages | 576 |
Release | 1999-01-01 |
Genre | Business & Economics |
ISBN | 110165919X |
John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets. This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.
Herd Behavior in Financial Markets
Title | Herd Behavior in Financial Markets PDF eBook |
Author | Sushil Bikhchandani |
Publisher | |
Total Pages | 38 |
Release | 2000 |
Genre | Capital market |
ISBN |