Search results for "stock"

Spanish Stock Returns: Where is the Weather Effect?

2003

Psychological studies support the existence of an influence of weather on mood. Saunders (1993) and Hirshleifer and Shumway (2001) argue that the weather could affect the behaviour of market traders and, therefore, it should be reflected in the stock returns. This paper investigates the possible relation between weather and market index returns in the context of the Spanish market. In 1989, this market changed its open outcry trading system into a computerised and decentralised trading system. Therefore, it is possible to check the influence of weather variables (sunshine hours and humidity levels) on index returns in an open outcry trading system, and to compare it with a screen traded env…

Interest rate changes and stock returns in Spain: A wavelet analysis

2015

This paper investigates the relationship between changes in interest rates and the Spanish stock market at the industry level over the period from January 1993 to December 2012 using a wavelet-based approach. The empirical results indicate that Spanish industries exhibit, in general, a significant interest rate sensitivity, although the degree of interest rate exposure differs considerably across industries and depending on the time horizon under consideration. In particular, regulated industries such as Utilities, highly indebted industries such as Real Estate, Utilities or Technology and Telecommunications, and the Banking industry emerge as the most vulnerable to interest rates. Further,…

CASE STUDY REGARDING THE FINANCIAL PERFORMANCE BASED ON RATES OF RETURN, FOR COMPANIES LISTED ON BUCHAREST STOCK EXCHANGE, ACTING IN MINING AND QUARR…

2013

Analysing the relationships between elements of an enterprise's financial statements, especially between elements from the balance sheet and those from the profit and loss account, the rates of return adds greater utility to the consumers of financial information, offering the possibility to make comparisons over time and space as well as to make reference to internal and external rates. Considering the companies listed on Bucharest Stock Exchange among the best performing, due to the high requirements imposed by a stock market, in this paper has been analyzed the way the financial crisis affected the financial performance in Mining and Quarrying Domain.

Usançen der Börse und Convention der über See handelnden Kaufmannschaft in Riga: neuerdings revidirt und festgesetzt im November 1859

1860

Genetic-based evaluation of management units for sustainable vendace (Coregonus albula) fisheries in a large lake system

2022

The goal of the processing industry, trade and consumers is to get eco-labelled freshwater fish products from sustainable fisheries into the market as soon as possible. The fourth largest natural lake system in Europe, the Saimaa lake system supports a fishery for vendace (Coregonus albula). Certification of the fishery requires an understanding of population structure to help determine the number and spatial extent of management units. In this study, we analysed the genetic diversity of local vendace populations in the Saimaa lake system and aimed to identify the conservation and management units of vendace. Within the Saimaa, the genetic divergence between local populations of vendace was…

Artificial Reefs in the Gulf of Castellammare (North-West Sicily): A Case Study

2000

Most of the plans for fish stock replenishment recently undertaken in Sicily have focused on the Gulf of Castellammare. Reasons for choosing this biotope for a restocking plan include the size of the Gulf (300 km2), the importance and traditional role of its fisheries and the existence of information describing the local marine environment. The Gulf of Castellammare is the widest bay in Sicily and fishing has always played a major role in the local economy. Today income from fishing complements that from tourism.

The food and parasites of fish in some deep basins of northern L. Päijänne

1982

The composition of the fish stock, food and ‘macroparasites’ were studied in eleven basins (22–100 m) of Lake Jyvasjarvi and North Paijanne in August–September 1976. The fishing was done by means of a series of nets (meshes 15, 21 and 35 mm) laid on the bottom overnight. No fish were found in the two northernmost basins owing to bad oxygen conditions caused by waste waters. Smelt and burbot were the most abundant fish in the catches in other basins but the vendace was rare. Relict crustaceans and some ‘deep water’ copepods (e.g. Heterocope borealis) played an important role in the food of fish in all basins.

The success of crayfish stocking in a dredged river with and without artificial shelter increase

1997

Abstract The success of crayfish ( Astacus astacus L.) stocking in a heavily dredged river in Finland was compared between sections with and without artificial shelter. The materials used for creating shelter were a) broken rock and, b) ceramic drain pipes and perforated bricks. Group-marked crayfish (mean carapace length 42.6 mm) were released into the sections and test trappings conducted one year later. The highest crayfish densities were found in the broken rock sections. The reasons for the observed crayfish densities are discussed. No significant differences in growth between groups were detected. Migrations in the range of 2.5 km in one year were recorded.

Incentives in Corporate Governance: The Role of Self-Regulation

2004

Corporate governance stems from the interplay of legal norms, security regulation, self-regulation and best practices. Recent scandals and frauds have forced governments to update laws on corporate governance: the legislation process has been very fast in some countries, others have lagged. Law and regulation intervene and become effective only ex-post, when damages have been done and malpractice is self-evident. On the contrary, self-regulation is a quicker and more flexible response to changing market conditions and of great impact on the relationship between firms and their environment. A self-regulatory organization (SRO) such as the stock exchange could administer the screening device,…

Why Is Equity Order Flow so Persistent?

2014

Order flow in equity markets is remarkably persistent in the sense that order signs (to buy or sell) are positively autocorrelated out to time lags of tens of thousands of orders, corresponding to many days. Two possible explanations are herding, corresponding to positive correlation in the behavior of different investors, or order splitting, corresponding to positive autocorrelation in the behavior of single investors. We investigate this using order flow data from the London Stock Exchange for which we have membership identifiers. By formulating models for herding and order splitting, as well as models for brokerage choice, we are able to overcome the distortion introduced by brokerage. O…