Vše

Co hledáte?

Vše
Projekty
Výsledky výzkumu
Subjekty

Rychlé hledání

  • Projekty podpořené TA ČR
  • Významné projekty
  • Projekty s nejvyšší státní podporou
  • Aktuálně běžící projekty

Chytré vyhledávání

  • Takto najdu konkrétní +slovo
  • Takto z výsledků -slovo zcela vynechám
  • “Takto můžu najít celou frázi”

Essays on financial markets

Identifikátory výsledku

  • Kód výsledku v IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F16%3A00464868" target="_blank" >RIV/67985998:_____/16:00464868 - isvavai.cz</a>

  • Nalezeny alternativní kódy

    RIV/00216208:11640/16:00464867

  • Výsledek na webu

  • DOI - Digital Object Identifier

Alternativní jazyky

  • Jazyk výsledku

    angličtina

  • Název v původním jazyce

    Essays on financial markets

  • Popis výsledku v původním jazyce

    This thesis studies financial markets and the information we can obtain from observing the actions of financial market participants. In the first chapter, I study how the combination of different accounting ratios, which are considered to be the financial signals of future performance, can affect the analysts’ and managers’ earnings forecast releases. The findings show that analysts treat the firms differently depending on whether the firms have only strong financial indicators (high signal group), weak financial indicators (low signal group), and those with both positive and negative signals (mixed signal group). In the second chapter, I examine whether trading activity responds to the industry-related earnings announcement and whether this activity is informative. I find that the subsequent announcer’s abnormal trading volume is informative about their stock performance upon the first and own subsequent announcement and in the post announcement performance. In the third chapter (with Yuko Hashimoto), we study whether the EU member countries act as a single investor due to the stronger financial integration over recent years. Although we find evidence that the portfolio investments of the EU countries tend to move together, there is still some diversity among the Union members.

  • Název v anglickém jazyce

    Essays on financial markets

  • Popis výsledku anglicky

    This thesis studies financial markets and the information we can obtain from observing the actions of financial market participants. In the first chapter, I study how the combination of different accounting ratios, which are considered to be the financial signals of future performance, can affect the analysts’ and managers’ earnings forecast releases. The findings show that analysts treat the firms differently depending on whether the firms have only strong financial indicators (high signal group), weak financial indicators (low signal group), and those with both positive and negative signals (mixed signal group). In the second chapter, I examine whether trading activity responds to the industry-related earnings announcement and whether this activity is informative. I find that the subsequent announcer’s abnormal trading volume is informative about their stock performance upon the first and own subsequent announcement and in the post announcement performance. In the third chapter (with Yuko Hashimoto), we study whether the EU member countries act as a single investor due to the stronger financial integration over recent years. Although we find evidence that the portfolio investments of the EU countries tend to move together, there is still some diversity among the Union members.

Klasifikace

  • Druh

    O - Ostatní výsledky

  • CEP obor

  • OECD FORD obor

    50206 - Finance

Návaznosti výsledku

  • Projekt

  • Návaznosti

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Ostatní

  • Rok uplatnění

    2016

  • Kód důvěrnosti údajů

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů