Search results for " market efficiency"
showing 5 items of 5 documents
Access to Finance: Baltic Financial Markets
2014
Abstract Access to finance is considered one of the main obstacles to successful financial market development. Access to finance was second-ranked most pressing problem faced by companies in the Euro Area and one of the main barriers to company's innovation capacity. The study results highlight the need to recognize that countries require sound and well-functioning financial markets. Only in this case financial markets can provide much needed sources of investments such as sound banking loans, properly regulated securities exchanges, venture capital, and other resources.
The role of the financial system in the growth–inflation link: the OECD experience
2004
Abstract This paper jointly estimates the effects of financial development and inflation on growth using both cross-section and time-series dimensions of the data on inflation, growth, and some banking and stock market indicators over the period 1961–1993 for a sample of OECD countries. Overall, the results indicate, first, that the long-run costs of inflation are not explained by policies of financial repression and, second, that if inflation affects growth through its interaction with financial market conditions, this is not the only (nor the most important) channel.
Turbulence and financial markets
1996
The adaptive nature of liquidity taking in limit order books
2014
In financial markets, the order flow, defined as the process assuming value one for buy market orders and minus one for sell market orders, displays a very slowly decaying autocorrelation function. Since orders impact prices, reconciling the persistence of the order flow with market efficiency is a subtle issue. A possible solution is provided by asymmetric liquidity, which states that the impact of a buy or sell order is inversely related to the probability of its occurrence. We empirically find that when the order flow predictability increases in one direction, the liquidity in the opposite side decreases, but the probability that a trade moves the price decreases significantly. While the…
Knowledge Retention within Small and Mediumsized Enterprises
2019
Abstract In the constantly changing nowadays economy, all organizations have to be prepared to embrace all technological innovation and become good competitors in the market place all over the world. This need puts a special emphasize on the ability of a company to evolve through employee ability to grow professional. The retention of good, qualified employee is a complex process, because of the importance of the knowledge for the financial efficiency of a company. This article aims is to examine knowledge retention as an advantage of companies in this era of information, an era in which organizations view their employees as the main sources of competitive edge, acknowledging, at the same t…