?
Does geopolitical risk matter for global asset returns? Evidence from quantile-on-quantile regression
Finance Research Letters. 2022. Vol. 48. Article 102991.
We investigate the impact of geopolitical risk (GPR) generated by the Russian-Ukrainian conflict on European and Russian bonds, equity, and global commodity markets. We employ the GPR index and apply the quantile-on-quantile regression approach to the GRP index and financial asset returns. Our findings indicate that (i) most assets are in a mix of negative and positive relationship with GPR; (ii) GPR leads to changes in asset returns during normal market conditions; and (iii) the magnitude and direction of GPR's effect on asset returns depend on the type of market and market conditions.
Bossman A., Gubareva M., Teplova T., Resources Policy 2023 Vol. 82 Article 103515
This study examines the asymmetric relationships between EU sectoral stocks and oil, oil implied volatility, geopolitical risk, and market sentiment during turbulent times of geopolitical unrest. In a set of parametric and nonparametric quantile-based techniques, we employ daily data on eleven sectors of economic activity in addition to crude oil prices (WTI) and three sentiment-driven ...
Added: June 22, 2023
Umar Z., Polat O., Teplova T. et al., Finance Research Letters 2022 No. 48 Article 102976
We investigate the impact of geopolitical risks caused by the Russian-Ukrainian conflict on Russia, European financial markets, and the global commodity markets. We measure the dynamic connectedness among them using time- and frequency-based time-varying parameter vector autoregression (TVP-VAR) approaches. The empirical findings indicate that (i) their relationship has changed due to the conflict; (ii) European ...
Added: May 25, 2022
Bossman A., Gubareva M., Teplova T., Energy Economics 2023 Vol. 127 Article 107080
The interplay between energy and agricultural commodities and the responses of agricultural commodities to global uncertainty factors have been receiving increasing attention due to the pivotal contributions of commodity markets to the world economy. This study investigates the asymmetric effects of oil, market volatility and sentiment, economic policy uncertainty, and geopolitical risk on agricultural commodities ...
Added: March 22, 2024
Dalal A., Банковское дело 2016 № 5 С. 20-23
This paper deals with the phenomena of sukuk bonds rapid growth, Islamic securities, which stand out for their asset-based nature. The absence of optimal pricing strategies leads to refinement of the Islamic financing structures. Sukuk payment schemes, benefits and limitations of various types of Islamic bonds and their implication as a source of long-term funding ...
Added: October 8, 2018
Якушева Ирина Владимировна, Демченкова Оксана Андреевна, M. : Urait, 2017
The book consists of several units covering various aspects of business organisation. The main economic systems, the role of an enterprise as a basic unit of production, the characteristics of small-scale and large-scale business are considered. Corporation as a form of business organisation with its structure, management and financial aspects of operating is analysed. ...
Added: December 12, 2017
Selivanovskiy A., Закон 2020 № 2 С. 142-157
In the Russian financial market, there is a significant redistribution of individual investment: funds flow from deposits to the securities market as citizens purchase bonds. The two types of investment appear to be similar, but bonds are much more complex and require more attention than deposits. Their comparison reveals that each investment tool has its ...
Added: March 12, 2020
Чебоксары : Издательский дом "Среда", 2020
The concept of bonds is disclosed, the procedure for attracting borrowed funds through the bond placement tool is considered, the list of factors determining the credit rating of JSC "Russian Post" is clarified and supplemented. ...
Added: October 26, 2021
Dalal A., Азия и Африка сегодня 2018 № 4 С. 25-31
The goal of this paper is to determine unique price factors of sukuk, Islamic instruments, which are similar to conventional bonds. To achieve the defined research goal, we have briefly investigated principles of sukuk and structures of funding process and reviewed contemporary research on pricing of Islamic bonds and possible factors of sukuk price. For ...
Added: October 8, 2018
Sergey Proskurin, Penikas H. I., / Высшая школа экономики. Series FE "Financial Economics". 2013.
In this research we propose an empirical methodology of investigating the successfulness of financial analysts' recommendations on buying or selling stocks of the Russian public companies. Results reveal that only 56% of all studied recommendations were successful (or not unprofitable). These results comes along with theoretical predictions published recently. ...
Added: October 13, 2013
Teplova T., Stolyarov A. I., Вестник Института экономики Российской академии наук 2017 № 6 С. 31-48
Для формирования в стране долгосрочного частного инвестора и обеспечения перетока капитала от домохозяйств в реальный сектор экономики принципиально важно развитие двух сегментов финансового рынка - акций и облигаций. В статье анализируется сложившееся состояние этих сегментов финансового рынка и раскрываются проблемы, которые предстоит решать регулятору, а также бирже и профессиональному сообществу. ...
Added: January 30, 2018
Bossman A., Umar Z., Teplova T., Journal of Economic Asymmetries 2022 Vol. 26 Article e00257
The COVID-19 pandemic has affected all sectors of the economy resulting in unprecedented challenges for market participants, policymakers, and practitioners. This study envisages this issue from the perspective of real estate investment trusts (REITs), which is a relatively less analysed segment. We examine the impact of the COVID-19 pandemic on REIT returns for 12 top REIT regimes spread across ...
Added: September 3, 2022
Selivanovskiy A., Сенюк Г. В., Хозяйство и право 2014 № 10 С. 20-36
Presented in the article analysis of novels of the revised edition of the Chapter 7 of the Civil Code of RF from October 1, 2013 in the field of securities’ law shows us that the reform focused on form rather than on substance. The question about genuine belonging of a right on an uncertificated security ...
Added: October 27, 2014
Umar Z., Abrar A., Hadhri S. et al., Energy Economics 2023 Vol. 119 Article 106562
We analyze the impact of oil price shocks on three unique fixed income asset classes representing conventional
bonds, Islamic bonds (sukuks) and green bonds by employing network dynamic connectedness framework. Our sample period ranges from May 1, 2009, to March 1, 2022, covering the aftermath of global financial crisis, subsequent boom and bust of oil markets and ...
Added: June 22, 2023
Khanin D. G., Novozhilova T. N., Едронова В. Н., М. : ИНФРА-М, 2010
В пособии сжато изложены вопросы курса «Рынок ценных бумаг». Оно состоит из двух частей: текстовой и иллюстративной. В текстовой части содержится краткое изложение основных вопросов курса, в иллюстративной — их наглядное представление в схемах. Части идентичны по структуре и связаны внутренними ссылками. Курс-минимум предназначен для повторения и систематизации материала, подготовки к экзаменам. В его основе ...
Added: December 24, 2012
Bossman A., Gubareva M., Teplova T., Applied Economics 2023
The attractiveness of the equities of the Islamic faith-compliant companies as a hedge or possible diversifier has been underscored; however, there is a lack of empirical research on their safe-haven and hedge attributes against changes in the level of cryptocurrency environmental attention (ICEA). We examine whether various distributions of the ICEA possess a significant predictive ...
Added: May 10, 2023
Selivanovskiy A., Закон 2024 № 1 С. 148-158
The article presents a research of the conditions for calculating interest on the nominal value of bonds. The question is raised about the integrity of issuers when establishing the amount of coupon payments according to the formulas established by the bond issuers themselves. ...
Added: February 3, 2024
Khlyupina N., Berzon N. I., Финансы и кредит 2016 № 11 С. 15-31
Предмет. В рамках настоящей работы исследуется реакция доходности ценных бумаг на пересмотры рекомендаций аналитиков. Задача количественной оценки информационной значимости рекомендаций аналитиков для поведения цен акций представляется достаточно важной в современном мире. Особое значение она имеет для инвесторов, которых интересует, позволит ли следование рекомендациям получить доходность выше рыночной.
Цели. Оценка информационной значимости пересмотров рекомендаций аналитиков для динамики цен на ...
Added: December 1, 2016
Selivanovskiy A., Selivanovskaya M. E., Хозяйство и право 2013 № 11 С. 43-53
The article discusses a new Institute for Russian representative of bondholders (analogue of trustee). Analysis of legal relations arising between the representative of bondholders and the bondholders, as well as between the representative of bondholders and the issuer shows a serious conflict of interests. ...
Added: November 13, 2013
Antipov E. A., Pokryshevskaya E. B., Journal of Targeting, Measurement and Analysis for Marketing 2011 Vol. 19 No. 1 P. 3-10
This article addresses the issue of unobserved heterogeneity in film characteristics influence on box-office. We argue that the analysis of pooled samples, most common among researchers, does not shed light on underlying segmentations and leads to significantly different estimates obtained by researchers running similar regressions for movie success modeling. For instance, it may be expected ...
Added: October 4, 2012
Lukyanova A., / Высшая школа экономики. Серия WP3 "Проблемы рынка труда". 2013. № WP3/2013/04.
In this paper, we investigate the impact of informality on earnings inequality in Russia using the RLMS – HSE data for 2000–2010. We apply decompositions based on the recentered influence functions of unconditional quantiles proposed by Fipro, Fortin and Lemieux (Fipro et al., 2009). Our results confi rm the heterogeneity of informal employment with specifi ...
Added: May 3, 2013
Lukyanova A., Economics of Transition and Institutional Change 2015 Vol. 23 No. 2 P. 469-515
In this paper, we explore the relationship between informality and earnings inequality using the data from the Russia Longitudinal Monitoring Survey (RLMS-HSE) for 2000–2010. We determine that during the entire period, earnings inequality was substantially higher in the informal sector. Informality increases earnings polarization, widening both tails of the earnings distribution. Nonetheless, inequality has declined ...
Added: April 21, 2015
Kopyrina O., Stepanova A. N., Economic Systems 2023 Vol. 47 No. 2 Article 101097
Agency theory predicts that the default premium on debt is determined by the intensity of agency conflicts since they affect the risk of debtholders. This effect is especially important in emerging countries with high ownership concentration and low protection of minority owners. This paper presents an empirical analysis of the influence of ownership structure and ...
Added: June 9, 2023
Kurochkin S. V., В кн. : Рынок ценных бумаг : учебник для академического бакалавриата, 5-е изд., перераб. и доп. : М. : Юрайт, 2019. Гл. 11. С. 300-343.
Изучив материал данной главы, студент должен знать
цели, ограничения и риски, возникающие при управлении портфелем ценных бумаг;
основные этапы инвестиционного процесса, суть решений, принимаемых на каждом из них, соотношение ответственности клиента и менеджера;
проблемы и принципы принятия человеком решений в условиях неопределенности, а также «предпочтения инвестора»;
соотношения между доходностью и риском при инвестировании; ...
Added: October 10, 2019
Ван Ц., В. Лапшин, Мировая экономика и международные отношения 2014 № 2 С. 32-37
В статье показаны история развития китайского рынка облигаций и его современные особенности: масштабы, структура, состав участников, торгуемые инструменты, механизм государственного регулирования. ...
Added: April 18, 2019