The Ascent Of Market Efficiency
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The Ascent Of Market Efficiency
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Author : Simone Polillo
language : en
Publisher: Cornell University Press
Release Date : 2020-08-15
The Ascent Of Market Efficiency written by Simone Polillo and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-15 with Business & Economics categories.
The Ascent of Market Efficiency weaves together historical narrative and quantitative bibliometric data to detail the path financial economists took in order to form one of the central theories of financial economics—the influential efficient-market hypothesis—which states that the behavior of financial markets is unpredictable. As the notorious quip goes, a blindfolded monkey would do better than a group of experts in selecting a portfolio of securities, simply by throwing darts at the financial pages of a newspaper. How did such a hypothesis come to be so influential in the field of financial economics? How did financial economists turn a lack of evidence about systematic patterns in the behavior of financial markets into a foundational approach to the study of finance? Each chapter in Simone Polillo's fascinating meld of economics, science, and sociology focuses on these questions, as well as on collaborative academic networks, and on the values and affects that kept the networks together as they struggled to define what the new field of financial economics should be about. In doing so, he introduces a new dimension—data analysis—to our understanding of the ways knowledge advances. There are patterns in the ways knowledge is produced, and The Ascent of Market Efficiency helps us make sense of these patterns by providing a general framework that can be applied equally to other social and human sciences.
After Enron
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Author : John Armour
language : en
Publisher: Bloomsbury Publishing
Release Date : 2006-11-14
After Enron written by John Armour and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-14 with Law categories.
At the end of the twentieth century it was thought by many that the Anglo-American system of corporate governance was performing effectively and some observers claimed to see an international trend towards convergence around this model. There can be no denying that the recent corporate governance crisis in the US has caused many to question their faith in this view. This collection of essays provides a comprehensive attempt to answer the following questions: firstly, what went wrong - when and why do markets misprice the value of firms, and what was wrong with the incentives set by Enron? Secondly, what has been done in response, and how well will it work - including essays on the Sarbanes-Oxley Act in the US, UK company law reform and European company law and auditor liability reform, along with a consideration of corporate governance reforms in historical perspective. Three approaches emerge. The first two share the premise that the system is fundamentally sound, but part ways over whether a regulatory response is required. The third view, in contrast, argues that the various scandals demonstrate fundamental weaknesses in the Anglo-American system itself, which cannot hope to be repaired by the sort of reforms that have taken place. "This collection of papers by leading US and European corporate law scholars provides fresh and rigorous analyses of the recent corporate governance scandals and the strategies devised by regulators to guard against future governance failures." Randall Thomas, John Beasley Professor of Law and Business, Vanderbilt University School of Law, Vanderbilt University.
Markets With Bureaucratic Characteristics
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Author : Yingyao Wang
language : en
Publisher: Columbia University Press
Release Date : 2024-05-21
Markets With Bureaucratic Characteristics written by Yingyao Wang and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-21 with Political Science categories.
China’s breathtaking economic development has been driven by bureaucrats. Even as the country transitioned away from socialist planning toward a market economy, the economic bureaucracy retained a striking degree of influence and control over crafting and implementing policy. Yet bureaucrats are often dismissed as faceless and inconsequential, their role neglected in favor of party leaders’ top-down rule or bottom-up initiatives. Markets with Bureaucratic Characteristics offers a new account of economic policy making in China over the past four decades that reveals how bureaucrats have spurred large-scale transformations from within. Yingyao Wang demonstrates how competition among bureaucrats motivated by careerism has led to the emergence of new policy approaches. Second-tier economic bureaucrats instituted distinctive—and often conflicting—“policy paradigms” aimed at securing their standing and rewriting China’s long-term development plans for their own benefit. Emerging from the middle levels of the bureaucracy, these policy paradigms ultimately reorganized the Chinese economy and reshaped state-market relations. Drawing on fine-grained biographical and interview data, Wang traces how officials coalesced around shared career trajectories, generational experiences, and social networks to create new alliances and rivalries. Shedding new light on the making and trajectory of China’s ambitious economic reforms, this book also provides keen sociological insight into the relations among bureaucracy, states, and markets.
Beyond The Random Walk
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Author : Vijay Singal
language : en
Publisher: Financial Management Association Survey and Synthesis Series
Release Date : 2006
Beyond The Random Walk written by Vijay Singal and has been published by Financial Management Association Survey and Synthesis Series this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Singal points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. Here he discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit.
The Political Economy Of Financial Regulation
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Author : Emilios Avgouleas
language : en
Publisher: Cambridge University Press
Release Date : 2019-01-31
The Political Economy Of Financial Regulation written by Emilios Avgouleas and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-31 with Business & Economics categories.
Examines the law and policy of financial regulation using a combination of conceptual analysis and strong empirical research.
Intelligence Science V
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Author : Zhongzhi Shi
language : en
Publisher: Springer Nature
Release Date : 2024-09-28
Intelligence Science V written by Zhongzhi Shi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-28 with Computers categories.
This book constitutes the refereed proceedings of the 6th IFIP TC 12 International Conference on Intelligence Science, ICIS 2024, held in Nanjing, China, in October 25-28, 2024. The 23 full papers and 2 short papers presented here were carefully reviewed and selected from 32 submissions. These papers have been categorized into the following sections: Machine Learning; Causal Reasoning; Large Language Model; Intelligent Robot; Perceptual Intelligence; AI for Science; Medical Artificial Intelligence.
Experimental Economics Financial Markets Auctions And Decision Making
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Author : Fredrik Nils Andersson
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-28
Experimental Economics Financial Markets Auctions And Decision Making written by Fredrik Nils Andersson and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-28 with Business & Economics categories.
Experimental Economics: Financial Markets, Auctions, And Decision Making is based on research presented at the 20th Arne Ryde Symposium on Experimental Economics, held on November 9-11 at Lund University. The volume is divided into two parts. In Part I, interviews with prominent researchers in the field, all invited speakers at the Symposium, are presented. Those interviewed are Peter Bohm, Catherine Eckel, Werner Güth, John Hey, Daniel Kahneman, Alvin Roth, Vernon Smith, and Martin Weber. The interviews address important questions about basic experimental methods and the interpretation of results. In addition, these researchers answer questions relating to their specific fields and to their contributions at the Symposium. They are also asked to single out the most important findings in the field. Part II contains selected contributions from the conference. Topics covered include attitudes towards risk and inequality; pitfalls in experimental economics; analysis of trading-period duration; robustness in learning; video experiments on decision making and fairness; sequential prisoners' dilemmas; and collusion in auctions.
Modelling And Mining Networks
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Author : Megan Dewar
language : en
Publisher: Springer Nature
Release Date : 2024-04-28
Modelling And Mining Networks written by Megan Dewar and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-28 with Computers categories.
This book constitutes the refereed proceedings of the 19th International Workshop on Modelling and Mining Networks, WAW 2024, held in Warsaw, Poland, during June 3–6, 2024. The 12 full papers presented in this book were carefully reviewed and selected from 19 submissions. The aim of this workshop was to further the understanding of networks that arise in theoretical as well as applied domains. The goal was also to stimulate the development of high-performance and scalable algorithms that exploit these networks.
Agent Based Modeling
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Author : Norman Ehrentreich
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-10-25
Agent Based Modeling written by Norman Ehrentreich and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-10-25 with Business & Economics categories.
This book reconciles the existence of technical trading with the Efficient Market Hypothesis. By analyzing a well-known agent-based model, the Santa Fe Institute Artificial Stock Market (SFI-ASM), it finds that when selective forces are weak, financial evolution cannot guarantee that only the fittest trading rules will survive. Its main contribution lies in the application of standard results from population genetics which have widely been neglected in the agent-based community.
Emerging Markets In An Upside Down World
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Author : Jerome Booth
language : en
Publisher: John Wiley & Sons
Release Date : 2014-06-03
Emerging Markets In An Upside Down World written by Jerome Booth and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-03 with Business & Economics categories.
The world is upside down. The emerging market countries are more important than many investors realise. They have been catching up with the West over the past few decades. Greater market freedom has spread since the end of the Cold War, and with it institutional changes which have further assisted emerging economies in becoming more productive, flexible, and resilient. The Western financial crisis from 2008 has quickened the pace of the relative rise of emerging markets - their relative economic power, and with it political power, but also their financial power as savers, investors and creditors. Emerging Markets in an Upside Down World - Challenging Perceptions in Asset Allocation and Investment argues that finance theory has misunderstood risk and that this has led to poor investment decisions; and that emerging markets constitute a good example of why traditional finance theory is faulty. The book accurately describes the complex and changing global environment currently facing the investor and asset allocator. It raises many questions often bypassed because of the use of simplifying assumptions and models. The narrative builds towards a checklist of issues and questions for the asset allocator and investor and then to a discussion of a variety of regulatory and policy issues. Aimed at institutional and retail investors as well as economics, finance, business and international relations students, Emerging Markets in an Upside Down World covers many complex ideas, but is written to be accessible to the non-expert.