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Full-Text Articles in Business
Center Of Volume Mass: Does Options Trading Predict Stock Returns?, Gennaro Bernile, Fei Gao, Jianfeng Hu
Center Of Volume Mass: Does Options Trading Predict Stock Returns?, Gennaro Bernile, Fei Gao, Jianfeng Hu
Research Collection Lee Kong Chian School Of Business
We examine whether the distribution of trades along the set of strike prices of option contracts on the same stock contains information about underlying price discovery. We show that option traders' demand for delta exposure drives the volume-weighted average strike-spot price ratio (VWKS). In turn, we find that VWKS predicts underlying returns and anticipates the flow of fundamental information about the stock. The return predictability is greater but not limited to stocks with higher information asymmetries and arbitrage costs, and becomes stronger ahead of value relevant news. Overall, options trading appears to play an important informational role for underlying markets.
The Transparency And Disclosure Of Corporate Governance System In The Regard Of Investors, O. K. Iminov, A. B. Gafurov
The Transparency And Disclosure Of Corporate Governance System In The Regard Of Investors, O. K. Iminov, A. B. Gafurov
Central Asian Problems of Modern Science and Education
The corporate is a form of business that attracts capital and expands it. The shareholders of corporations as investors fund their money in order to get profit from their ownerships. However, there is a relationship that lies on between shareholders and managers. As we know, the shareholders receive income in the form of dividends from the managers can gain profit over the shareholders‘ ownership. As we know, shareholders receive income in the form of dividends from the profits of companies, while managers receive income from the invested works in the company. It turns out a disagreement between them and the …
Development Of An It Balanced Scorecard, Theophilus B. A. Addo, Chee W. Chow, Kamal M. Haddad
Development Of An It Balanced Scorecard, Theophilus B. A. Addo, Chee W. Chow, Kamal M. Haddad
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There is a generally acknowledged dearth of metrics for effectively measuring organizational performance. This is particularly true of the IT function, whose contribution to a firm's "bottom line" has been frequently called to question. This paper describes the development of a performance measurement tool called the Balanced Scorecard, which can be used to assess IT performance within the cordetU of overall corporate strategy and financial performance. Data for the scorecard was obtained via a sur^'ey of senior IT executives in various organizations. The paper concludes with a set of guidelines for successfully implementing an IT Balanced Scorecard, as well as …
Information Content Of Revised Earnings Forecasts, Market Learning, And Analyst Behavior, Lifei Xue
Information Content Of Revised Earnings Forecasts, Market Learning, And Analyst Behavior, Lifei Xue
Open Access Theses & Dissertations
In my first essay, I examine how the quality of private information and the quality of public information contained in analyst revised one-year-ahead earnings forecasts issued right after a quarterly earnings announcement affect the post-earnings announcement drift (PEAD). I find that high precision of private information contained in revised forecasts reduces the level of PEAD and that the precision of public information contained in the revised one-year-ahead earnings forecasts partially offset the reduction in PEAD. Moreover, I find the effect of precision of private information on PEAD decreases after Reg FD, which required in the year 2000 that analysts could …
Strategies For Using Information And Communication Technologies To Improve Profitability, Rodney Mciver
Strategies For Using Information And Communication Technologies To Improve Profitability, Rodney Mciver
Walden Dissertations and Doctoral Studies
Small business owners in a range of industries continually adapt to take advantage of technological developments in accounting, marketing, and communication. The purpose of this multiple case study was to explore strategies that small business owners operating in the central region of North Carolina used to implement information and communication technology (ICT). Roger's diffusion of innovation theory grounded the study. Data collection included face-to-face semistructured interviews with 6 owners of small businesses who successfully implemented ICT, field notes from site observations, and reviews of participant websites. Interviews were transcribed and participants were engaged in member checking. Data were analyzed using …