Market-Gan: Adding Control To Financial Market Data Generation With Semantic Context,
2024
Singapore Management University
Market-Gan: Adding Control To Financial Market Data Generation With Semantic Context, Haochong Xia, Shuo Sun, Xinrun Wang, Bo An
Research Collection School Of Computing and Information Systems
Financial simulators play an important role in enhancing forecasting accuracy, managing risks, and fostering strategic financial decision-making. Despite the development of financial market simulation methodologies, existing frameworks often struggle with adapting to specialized simulation context. We pinpoint the challenges as i) current financial datasets do not contain context labels; ii) current techniques are not designed to generate financial data with context as control, which demands greater precision compared to other modalities; iii) the inherent difficulties in generating context-aligned, high-fidelity data given the non-stationary, noisy nature of financial data. To address these challenges, our contributions are: i) we proposed the Contextual …
Robust Permissioned Blockchain Consensus For Unstable Communication In Fanet,
2024
Singapore Management University
Robust Permissioned Blockchain Consensus For Unstable Communication In Fanet, Zihao Wang, Hang Wang, Zhuowen Li, Xinghua Li, Yinbin Miao, Yanbing Ren, Yunwei Wang, Zhe Ren, Deng, Robert H.
Research Collection School Of Computing and Information Systems
The utilization of blockchain technology as a distributed information sharing system has gained widespread adoption across various domains. However, its application to Flying Ad-Hoc Network (FANET), characterized by severe packet loss, poses significant challenges. The high packet loss rates in FANETs can result in decreased consensus success rates and negatively impact information sharing consistency and efficiency. In this paper, we proposed RoUBC, a novel consensus scheme for Flying Ad-Hoc Networks (FANET), which is based on the Raft protocol and is designed to address the challenges posed by the severe packet loss network in FANET. The proposed scheme consists of two …
Legal Risk And Insider Trading,
2024
Imperial College London
Legal Risk And Insider Trading, Marcin Kacperczyk, Emiliano Sebastian Pagnotta
Research Collection Lee Kong Chian School Of Business
Do illegal insiders internalize legal risk? We address this question with hand-collected data from 530 SEC (the U.S. Securities and Exchange Commission) investigations. Using two plausibly exogenous shocks to expected penalties, we show that insiders trade less aggressively and earlier and concentrate on tips of greater value when facing a higher risk. The results match the predictions of a model where an insider internalizes the impact of trades on prices and the likelihood of prosecution and anticipates penalties in proportion to trade profits. Our findings lend support to the effectiveness of U.S. regulations' deterrence and the long-standing hypothesis that insider …
Earnhft: Efficient Hierarchical Reinforcement Learning For High Frequency Trading,
2024
Singapore Management University
Earnhft: Efficient Hierarchical Reinforcement Learning For High Frequency Trading, Molei Qin, Shuo Sun, Wentao Zhang, Haochong Xia, Xinrun Wang, Bo An
Research Collection School Of Computing and Information Systems
High-frequency trading (HFT) is using computer algorithms to make trading decisions in short time scales (e.g., second-level), which is widely used in the Cryptocurrency (Crypto) market, (e.g., Bitcoin). Reinforcement learning (RL) in financial research has shown stellar performance on many quantitative trading tasks. However, most methods focus on low-frequency trading, e.g., day-level, which cannot be directly applied to HFT because of two challenges. First, RL for HFT involves dealing with extremely long trajectories (e.g., 2.4 million steps per month), which is hard to optimize and evaluate. Second, the dramatic price fluctuations and market trend changes of Crypto make existing algorithms …
Explaining Financial Inclusion: A Critical Realist Theory On The Role Of Financial Literacy,
2024
De La Salle University
Explaining Financial Inclusion: A Critical Realist Theory On The Role Of Financial Literacy, Bryan Bernabe, Jyro B. Triviño
Leadership and Strategy Faculty Publications
The impact of financial inclusion on social groups' economic divide is explored in this study, which introduces a critical realist theory underscoring the crucial role of financial literacy elements—behavior, attitude, knowledge, and skills—in promoting financial inclusivity. Initially framing a positivist explanatory theory inspired by Jaccard & Jaccoby's work and existing literature, the study then refines this into a critical realist causal theory using Sayer's established principles. This shift toward a critical realist approach allows for a more comprehensive and sophisticated theoretical evolution. By delving into fundamental causal mechanisms and considering the impact of social structures and context, the critical realist …
Diverse Hedge Funds,
2024
University of Central Florida
Diverse Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
Hedge fund teams with heterogeneous educational backgrounds, academic specializations, work experiences, genders, and races, outperform homogeneous teams after adjusting for risk and fund characteristics. An event study of manager team transitions, instrumental variable regressions, and an analysis of managers who simultaneously operate solo- and team-managed funds address endogeneity concerns. Diverse teams deliver superior returns by arbitraging more stock anomalies, avoiding behavioral biases, and minimizing downside risks. Moreover, diversity allows hedge funds to circumvent capacity constraints and generate persistent performance. Our results suggest that diversity adds value in asset management. Authors have furnished an Internet Appendix, which is available on the …
Ua80/1 Treasurer's Report,
2024
Western Kentucky University
Ua80/1 Treasurer's Report, W Club
University Organizations
W Club treasurer's report dated January 31, 2024.
An Examination Of The Determinants Of Ease Of Doing Business: Perspectives From World Economies,
2024
American University in Cairo
An Examination Of The Determinants Of Ease Of Doing Business: Perspectives From World Economies, Omar Eldarawy
Theses and Dissertations
This thesis’ purpose is to explore the correlation between Ease of Doing Business sub-scores and the overall Ease of Doing Business score. The study includes a detailed quantitative study into the previously mentioned relationship. The Ease of Doing Business sub-scores comprise of scores representing starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. This is conducted via a series of diagnostic tests to identify an appropriate regression model. These tests include the Hausman Test, RESET Test, and Breusch-Pagan Test. Based on the tests, …
Microfinancing And Entrepreneurship In Cocoa Refinement In Côte D’Ivoire,
2024
Purdue University
Microfinancing And Entrepreneurship In Cocoa Refinement In Côte D’Ivoire, Erin Soro
The Journal of Purdue Undergraduate Research
No abstract provided.
An Examination Of The Impacts Of Macroeconomic Indicators On Conventional And Islamic Equity Fund Returns: Perspectives From The Mena Region,
2024
American University in Cairo
An Examination Of The Impacts Of Macroeconomic Indicators On Conventional And Islamic Equity Fund Returns: Perspectives From The Mena Region, Amr Elshabouny
Theses and Dissertations
This study examines the performance of conventional and Islamic equity mutual funds in the MENA region, and the influence of major macroeconomic determinants on the two types, by analyzing 503 conventional and 128 Shariah-compliant funds. It incorporates three major macroeconomic variables using Generalized Linear Models (GLM). The findings indicate no significant superiority of Islamic funds over conventional ones. The study also notes that while market performance and foreign exchange rates positively affect both fund types, GDP growth and inflation have a negative impact. Islamic funds are less influenced by excess market returns, GDP growth, and inflation compared to conventional funds, …
Navigating Geopolitical Crises For Energy Security: Evaluating Optimal Subsidy Policies Via A Markov Switching Dsge Model,
2024
Singapore Management University
Navigating Geopolitical Crises For Energy Security: Evaluating Optimal Subsidy Policies Via A Markov Switching Dsge Model, Ying Tung Chan, Maria Teresa Punzi, Hong Zhao
Sim Kee Boon Institute for Financial Economics
This paper aims to provide insights on the design of optimal subsidy policies to enhance energy security amidst energy disruptions triggered by geopolitical conflicts. We introduce a novel Markov switching dynamic stochastic general equilibrium (MS-DSGE) model to address the limitations of existing integrated assessment models in environmental evaluation. These models often fail to adequately consider the environmental and economic impacts of geopolitical conflicts and do not prioritize energy security sufficiently in policymaking. Our application of the MS-DSGE model to the Russia–Ukraine conflict reveals significant decreases in output, social welfare, and energy consumption during disruptions. The mere anticipation of an energy …
Don't Make Me Look Bad: A Study On The Relationship Between Ceo Narcissism And Opinion Shopping,
2024
Marshall University
Don't Make Me Look Bad: A Study On The Relationship Between Ceo Narcissism And Opinion Shopping, Ali Jon Kooti
Theses, Dissertations and Capstones
CEO narcissism has become an urgent growing trend in business and accounting literature lately due to its strategic impact on CEO behavior and decision-making. Similarly, the opportunistic behavior of audit opinion shopping is a well-known concern among U.S. and international regulators and has been the subject of academic research for decades. This study investigates the association between the two. Specifically, this study examines whether narcissistic CEOs, motivated by their need for positive self-image, recognition, and praise, as well as their fear of adverse effects on their status and compensation, engage in opinion shopping in order to avoid receiving an unfavorable …
Local Institutional Investors And Corporate Monitoring: Evidence From Cross-Listed Korean Stocks In The Us Market,
2024
Singapore Management University
Local Institutional Investors And Corporate Monitoring: Evidence From Cross-Listed Korean Stocks In The Us Market, Changhwan Choi, Chune Young Chung, Jun Myung Song
Sim Kee Boon Institute for Financial Economics
Using Korean firms that are cross-listed in the US market, this paper investigates whether there are standalone effects of geographic and market proximity of institutional investors on monitoring performance. We find that Korean institutional ownership is negatively associated with earnings management while the US institutional ownership has no impact on earnings management. This suggests that there is the geographic proximity advantage over the market proximity advantage in the emerging markets. Furthermore, we also show that the impact of geographic proximity is stronger for firms with high informational opacity
Institutional Herding And Investor Sentiment,
2024
George Fox University
Institutional Herding And Investor Sentiment, Xu Guo, Chen Gu, Chengping Zhang, Shenru Li
Faculty Publications - College of Business
We investigate the role of investor sentiment in institutional herding behavior and its impact on stock prices. We find that institutional investors exhibit more herding behavior during periods of high sentiment, which has a significant impact on stock prices. Our results show that herding has a stabilizing effect on the stock market when investor sentiment is low, while it causes price distortions when sentiment is high. We also show that the impact of sentiment on price is particularly pronounced for small, non-profitable, low tangibility, high-growth firms.
Fixed Income Fund Report, January 2024,
2024
Bryant University
Fixed Income Fund Report, January 2024, Archway Investment Fund
Archway Investment Fund
No abstract provided.
Dad’S New Car,
2024
Centre for Excellence in Islamic Finance (CEIF), IBA
The Saim's Bookstore & Harmony Bank,
2024
Centre for Excellence in Islamic Finance (CEIF), IBA
The Saim's Bookstore & Harmony Bank, Ahmed Ali Siddiqui
IBA Press
No abstract provided.
A Journey To Our Dream House,
2024
Centre for Excellence in Islamic Finance (CEIF), IBA
Yusuf's First Bank Account,
2024
Centre for Excellence in Islamic Finance (CEIF), IBA
Yusuf’S Saving Goal,
2024
Centre for Excellence in Islamic Finance (CEIF), IBA
