The London Stock Exchange Trade in stock markets means the transfer in exchange for money of a stock or security from a seller to a buyer.
The paper argues that managerial incentives, disciplining and corporate finance are not the fundamental distinguishing features of different financial systems. Instead, differences in ownership and control emerge as important influences on the formulation, implementation Studies of stock price volatility changes adaptation of corporate strategy.
Ownership and control structures are interrelated with competition in product markets: Innovation, firm size and market structure: Shumpeterian hypotheses and some new themes George Symeonidis This paper surveys the empirical literature on the links between innovation, market structure and firms size.
The review shows that there is little evidence in support of the Schumpeterian hypothesis that market power and large firms stimulate innovations.
Recent empirical work suggests that RGD intensity and market structure are jointly determined by technology, the characteristics of demand, the institutional framework, strategic interaction and chance.
Mark-up pricing, market structure and the business cycle Joaquim Oliveira Martins, Stefano Scarpetta and Dirk Pilat This paper presents estimates of mark-ups of prices over marginal costs for 36 manufacturing industries and 7 service sectors in 14 OECD countries. It applies a recently developed methodology, and finds that positive mark-ups are common in both manufacturing and services.
The level of the estimated mark-ups can partly be related to competitive conditions by type of market structure. The paper also finds evidence of counter-cyclical behaviour of mark-ups, providing a possible explanation for the pro-cyclicality of employment and real wages. Competition, productivity and efficiency Dirk Pilat This paper discusses the empirical evidence on cross-country productivity gaps and analyses the link between productivity and competition.
It finds that inefficiency and low productivity levels are widespread in both manufacturing and services, and throughout the OECD area. The variation in productivity levels and growth rates appears related to the degree of competition facing industries.
International competition is an important element in achieving high productivity levels, but domestic factors also play a role.
High entry rates appear conducive to productivity, but high concentration is not. In service sectors, government-imposed regulations are often an important restriction on competition and productivity growth.
First, reasons for spending differences over time and across countries in transfer programmes are examined. A general finding is that differences in eligibility and entitlement conditions are usually more important than underlying population and risk characteristics.
Moreover, eligibility conditions, reflecting policy goals and programme administration, often appear to be more important than benefit levels in explaining spending patterns.
The second part of the paper reflects on these results, giving a brief overview of policy reforms that might allow programme objectives to be reached more efficiently.
Alternative approaches to reducing the well-known "poverty trap" are identified and assessed, including Credit and Negative Income Tax programmes, earnings supplementation, and two marginal employment subsidy plans. It is concluded that a judicious combination of a moderate income guarantee plus programmes to stimulate the supply of and the demand for lower skilled labour could yield gains in a number of dimensions relative to existing income protection arrangements.
A stylised "blueprint" which illustrates such an approach is presented. Assessing the role of labour market policies and institutional settings on unemployment: The results suggest that these factors do matter for the level of structural unemployment and for the speed of labour market adjustment after an exogenous shock.
In particular, generous unemployment benefit systems and stringent employment protection legislation are associated with high unemployment and a lower speed of adjustment. Greater coordination among social partners in the wage bargaining process as well as both highly centralised and fully decentralised bargaining systems are beneficial to labour market performance.
Measures of replacement rates for the purpose of international comparisons: Martin Much prominence has been given to the role of unemployment and related social welfare benefits as a determinant of high and persistent unemployment. Quantifying this effect depends crucially on the ability to measure accurately the so-called "replacement rate", the proportion of expected income from work which is replaced by unemployment and related welfare benefits.
This note aims to describe these data briefly and compare them with similar measures computed by other cross-country studies. Market imperfections and employment Paul Geroski, Paul Gregg and John Van Reenen This paper examines whether imperfect competition in product markets has contributed to unemployment problems in industrial economies.
Microeconometric evidence on the origin and extent of product market power and the degree to which these rents are captured by workers is surveyed.
Product market imperfections appear widespread and, although large deviations of price from marginal cost appear shortlived, many firms enjoy persistently high returns for long periods. Wages are partially determined by rent sharing but this phenomenon is not solely confined to the union sector.
The implication is that reductions in product market imperfections would raise employment.This is the short term trend indicator of the CrystalBull Stock Market Timing Model.
After analyzing all available market data, this is our best indicator for the current market direction, and used in the hypothetical results shown at the top right. Public ChartLists on tranceformingnlp.com Below are collections of annotated charts and commentary created by tranceformingnlp.com members who have generously decided to share them publicly.
Form S-1 is the first SEC filing in the initial public offering (IPO) process. The tone of the S-1, in terms of its definitiveness in characterizing the firm’s business strategy and operations, should affect investors’ ability to value the IPO.
View Item. Understanding Secular Stock Market Cycles. The concept of secular cycles is sometimes dismissed or misunderstood by investors because they are confronted with a lot of incorrect or contradictory information about these cycles.
International Journal of Financial Studies (ISSN ) is an international, peer-reviewed, scholarly open access journal on financial market, instruments, policy, and management research published quarterly online by MDPI..
Open Access - free for readers, with article processing charges (APC) partially funded by institutions through Knowledge Unlatched and partially funded by MDPI. Article citations. More>> Black, F. () Studies of Stock Market Volatility Changes. Proceedings of the Meetings of the American Statistical Association, Business and Economic Statistics Section,