[PDF] Top 20 Does corruption drive the stock market?

... clears corruption “interpretation” by national stock ...represent the outcome of corruption on stock returns (though it may be useful to remind these coefficients are estimates, and can ... See full document

... methodology. Corruption involves the search for pecuniary gains, and it benefits from skewed information and problems in rationality and ...under the light of economics can be easily achieved by ... See full document

... regressions, the author demonstrated that only institutional sentiment forecasts stock market returns correctly for intermediate ...sentiment. The authors found that consumer confidence and ... See full document

... Political corruption is arguably one of the main factors constraining wealth creation and eco- nomic growth in modern democracies ...in corruption and state interference increases the ... See full document

... 2010). The standard TOPSIS method selects alternatives, which simultaneously maintain the shortest distance from the positive ideal solutions and the longest distance from the ... See full document

... i.e., the annual percentage growth rate of GDP at market prices based on constant local ...currency. The variable „Geographic location‟ is proxied by dummy which assumes the value 1 in ... See full document

... that the financial market is built by rational investors, meaning that all available information is correctly interpreted and that this information is reflected in the securities’ prices (Fama, ... See full document

... apply the model developed by Gokhale et al. (2015) to identify the existence of overreaction and behavioral biases in the Brazilian stock market and analyze its performance as an ... See full document

... assess the effect of corruption, I use an event study approach around the law ...approval. The dependent variable is the firms’ cumulative abnormal stock returns ranging two days ... See full document

... studies. The study of macroeconomic events is surely one of them. The Portuguese market presents some economic events that could be an interesting field for future ...04/14/2009 the Banco de ... See full document

... follows the winners, but instead of investing every single period in a certain number of stocks that performed better in the past p months (even though the best performers could have been stocks with ... See full document

... as the use of statistical models in order to find the most related ratios to stock ...from the Wall Street Journal and Barron’s for made for 1984-90, Value Line publications, professional ... See full document

... in the Mediterranean Sea are sold at considerably higher prices (Colloca et ...explain the saturation of price at large body sizes. The strong positive relationships between finfish market ... See full document

... beyond the scope of this paper to describe in detail these measures, it important to mention the Sharpe ratio, the Treynor ratio, and the Jensen ...at the assets and portfolio ... See full document

... corroborate the existence of a significant negative relation between stock returns and exchange ...and stock returns. Maysami et al. (2004: 69) “…explained that with the high import and export ... See full document

... Until the late 80’s, macroeconomic theory was almost solely based on models of exogenous economic fluctuations, where equilibria is determinate and intrinsically ...on the existence of continuing exogenous ... See full document

... In the last decades a number of researchers in the field called behavioural finance have been interested in investigating the extent to which the noise traders, who act on information that has ... See full document

... and the government could be modeled using a dynamic game of incomplete ...on the relationship between the government and the IBAmA official, it could be created an “investigation game” where ... See full document

... On the table above, the average change on return for high scored TOTAL_SCORE is negative, which, per si, would suggest that this model does not stand to what was proposed ...in the variables ... See full document

... of market efficiency according to the adjustment of security prices to all available information: the weak, semi-strong, and strong hypothesis' forms (Fama, ...1970a). The Weak-form refers to ... See full document