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Market Fluctuations (market + fluctuation)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting60%
Chemistry40%

Selected Abstracts

Book/market fluctuations, trading activity, and the cross-section of expected stock returns

REVIEW OF BEHAVIORAL FINANCE (ELECTRONIC), Issue 1-2 2009
Amber Anand
Abstract We analyze trading activity accompanying equities' switches from "growth" (low book-to-market ratios (BMRs)) to "value" (high BMRs), and vice versa. We find that a large BMR increase, that is a shift from growth to value, is accompanied by a strongly negative small order imbalance (OIB). Large OIB exhibits weaker patterns across stocks that experience large changes in book/market. The evidence indicates that growth-to-value shifts are more strongly related to small traders than large ones. The interaction of BMRs with order flows plays a crucial role in return predictability. Specifically, the predictive ability of BMRs for future returns is significantly enhanced for those stocks that have experienced book/market increases as well as high levels of net selling by way of small orders. Copyright © 2009 John Wiley & Sons, Ltd. [source]

Extreme US stock market fluctuations in the wake of 9/11

JOURNAL OF APPLIED ECONOMETRICS, Issue 1 2008
S. T. M. Straetmans
We apply extreme value analysis to US sectoral stock indices in order to assess whether tail risk measures like value-at-risk and extremal linkages were significantly altered by 9/11. We test whether semi-parametric quantile estimates of ,downside risk' and ,upward potential' have increased after 9/11. The same methodology allows one to estimate probabilities of joint booms and busts for pairs of sectoral indices or for a sectoral index and a market portfolio. The latter probabilities measure the sectoral response to macro shocks during periods of financial stress (so-called ,tail-,s'). Taking 9/11 as the sample midpoint we find that tail-,s often increase in a statistically and economically significant way. This might be due to perceived risk of new terrorist attacks. Copyright © 2008 John Wiley & Sons, Ltd. [source]

Multiperiod design and planning of multiproduct batch plants with mixed-product campaigns

AICHE JOURNAL, Issue 9 2009
Gabriela Corsano
Abstract This work presents a multiperiod optimization model for multiproduct batch plants operating during several time periods with different characteristics because of seasonal and market fluctuations. This model simultaneously considers decisions about the design, operation, scheduling, and planning of the plant and the corresponding trade-offs among them. Thus, decomposition mechanisms, which have been frequently used in previous approaches, are avoided through a formulation that takes into account the main elements of these problems. Besides, decisions are affected by different context conditions arisen by the multiperiod effect. Through a mixed integer nonlinear program, different alternatives of mixed production campaign are considered, handled by means of a novel set of scheduling constraints. This approach is posed for a fermentors network with high detail level in the description of the unit operations in a plant that produces yeast and ethanol. © 2009 American Institute of Chemical Engineers AIChE J, 2009 [source]

Multiple Discourses on Crisis: Farm, Agricultural, and Rural Policy Implications

CANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 4 2007
Kenneth C. Bessant
The terms farm crisis, agricultural crisis, and rural crisis have been invoked in political and policy discourse to characterize significant disruptions in or threats to rural,farm livelihoods. Although these expressions reflect a general sense of concern over the state of agriculture and rural existence, they lack clear and concise meaning. Academic research and policy development are obfuscated by the lack of definitional consensus or, at minimum, some shared understanding of the core aspects of farm-related crisis. Much of the debate revolves around four main themes: farm financial difficulties (low or unstable incomes, indebtedness, and increasing reliance on nonfarm revenue), structural changes in agriculture (increasing scale, concentration, and consolidation), rural livelihoods (dwindling communities, institutions, and services), and international dimensions (market fluctuations, trade regulations, and disputes). The examination of these interrelated levels of analysis offers a valuable framework for interpreting the multifold contexts, meanings, and responses to crisis. This paper explores varied representations of farm,agricultural crisis, with particular emphasis on the presumed causes (or precipitating factors), conditions, and related policies and programs. Les expressions , crise agricole , et , crise rurale , sont évoquées dans le discours politique pour caractériser des perturbations ou des menaces importantes aux moyens de subsistance en milieu rural et agricole. Bien que ces expressions traduisent certaines inquiétudes concernant la situation des secteurs agricole et rural, leur signification manque de clarté et de concision. Les chercheurs universitaires et les élaborateurs de politiques sont déconcertés par le manque de consensus définitionnel ou, du moins, par le manque de vision commune des aspects fondamentaux de la crise agricole. Une grande partie du débat tourne autour de quatre thèmes principaux: les difficultés financières de l'exploitation agricole (revenu faible ou instable, endettement et dépendance accrue aux revenus non agricoles); les changements structurels dans le secteur agricole (augmentation de l'échelle de production, concentration et regroupement); les moyens de subsistance en milieu rural (diminution du nombre de collectivités, d'institutions et de services); les dimensions internationales (fluctuations du marché, règlements concernant les échanges commerciaux, différends). L'examen de ces niveaux d'analyse interreliés offre un outil précieux pour interpréter les multiples contextes, significations et réactions aux crises. Le présent article analyse les diverses représentations de la crise dans le secteur agricole et se penche particulièrement sur les causes présumées (ou facteurs déclenchants), les conditions ainsi que les politiques et programmes connexes. [source]

Chemieindustrie: Herausforderungen und Antworten,

CHEMIE-INGENIEUR-TECHNIK (CIT), Issue 1-2 2004
R. Staudigl Dr.
Abstract Die Chemie ist heute einer der umsatzstärksten Wirtschaftszweige weltweit und auf allen Kontinenten vertreten. Die Unternehmenslandschaft in der Chemie hat sich seit dem Zweiten Weltkrieg völlig verändert. Aus diversifizierten Unternehmen wurden in den meisten Fällen Spezialisten, die auf wenige Geschäftsbereiche konzentriert sind und dort optimale Leistungen bringen können, dafür aber Marktschwankungen stärker ausgesetzt sind. Zukünftig ist abzusehen, dass der europäische Chemiemarkt global weiter an Gewicht verlieren wird. Dem kann nur durch höheres Wirtschaftswachstum und verstärkte Innovationsbemühungen in Europa entgegengewirkt werden. Voraussetzung ist jedoch, dass die Chemieindustrie nicht durch ständig zunehmende Belastungen wie unn,tige Umweltauflagen und steigende Energiepreise weiter in Rückstand gerät und als Konsequenz davon wegen mangelnder Profitabilität an Innovationskraft und Wettbewerbsfähigkeit verliert. The Chemical Industry: Challenges and Answers The chemical industry today is a branch of economy with one of the highest turnover worldwide and it is represented on all continents. Since World War II the structure of chemical companies has changed completely. Many companies which used to be active in different branches have become more specialized in order to optimize their economical performance. On the other hand specialization increases their dependence on market fluctuations. In the future, the European chemical industry will loose global importance. This development can only be prevented by increasing economical growth and more intense innovation efforts. A precondition for this is that the chemical industry will not be restricted by constantly increasing charges, e.g., unnecessary environmental regulations, and increasing energy costs. These restrictions would result in a lack of profitability and thus to limited innovation power and competitiveness. [source]