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Market Increase (market + increase)
Selected AbstractsBook/market fluctuations, trading activity, and the cross-section of expected stock returnsREVIEW OF BEHAVIORAL FINANCE (ELECTRONIC), Issue 1-2 2009Amber 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] Investor Attention and Time-varying ComovementsEUROPEAN FINANCIAL MANAGEMENT, Issue 3 2007Lin Peng G14 Abstract This paper analyses the effect of an increase in market-wide uncertainty on information flow and asset price comovements. We use the daily realised volatility of the 30-year treasury bond futures to assess macroeconomic shocks that affect market-wide uncertainty. We use the ratio of a stock's idiosyncratic realised volatility with respect to the S&P500 futures relative to its total realised volatility to capture the asset price comovement with the market. We find that market volatility and the comovement of individual stocks with the market increase contemporaneously with the arrival of market-wide macroeconomic shocks, but decrease significantly in the following five trading days. This pattern supports the hypothesis that investors shift their (limited) attention to processing market-level information following an increase in market-wide uncertainty and then subsequently divert their attention back to asset-specific information. [source] Quality changes of treated fresh-cut tropical fruits in rigid modified atmosphere packaging containersPACKAGING TECHNOLOGY AND SCIENCE, Issue 1 2007Vanee Chonhenchob Abstract There has been increasing demand for various fresh-cut tropical fruits. However, their short shelf-life has limited the market increase of this product. Quality changes (firmness, colour, total soluble solids (TSS), titratable acidity (TA), sensory quality and microbial safety) of fresh-cut mangoes, pineapples, melons and mixes of these fruits were evaluated. Chemical treatments to reduce browning, firmness loss and decay of fresh-cut tropical fruits were investigated. The most effective agents for fresh-cut mangoes, pineapples and melons were 0.1m ascorbic acid, 0.2m ascorbic acid and 0.2m ascorbic acid + 0.2m calcium chloride, respectively. Fresh-cut tropical fruits were packaged in various rigid containers (PET, OPS and OPLA). Gas composition in the package headspace and time to reach steady-state condition varied among fresh-cut packaging systems and affected their quality and shelf-life. The effects of package permeability of O2 and CO2 on quality and shelf-life of the fresh-cut products are discussed. Extended shelf-life was observed in fresh-cut mangoes, pineapples and mixes packaged in PET due to reduced O2 and elevated CO2 atmosphere. A modified atmosphere of 6% O2 and 14% CO2 achieved in PET extended the shelf-life of fresh-cut pineapples from 6 to 13 days. Accumulation of CO2 may impart an off-odour of fresh-cut fruits. The results suggested that the shelf-life of fresh-cut fruits could be extended by using proper rigid containers. Suitable mixes to create optimal equilibrium modified atmosphere had a potential to extend shelf-life of short shelf-life fresh-cut tropical fruits. Copyright © 2006 John Wiley & Sons, Ltd. [source] A National Study of Efficiency for Dialysis Centers: An Examination of Market Competition and Facility Characteristics for Production of Multiple Dialysis OutputsHEALTH SERVICES RESEARCH, Issue 3 2002Hacer Ozgen Objective. To examine market competition and facility characteristics that can be related to technical efficiency in the production of multiple dialysis outputs from the perspective of the industrial organization model. Study Setting. Freestanding dialysis facilities that operated in 1997 submitted cost report forms to the Health Care Financing Administration (HCFA), and offered all three outputs,outpatient dialysis, dialysis training, and home program dialysis. Data Sources. The Independent Renal Facility Cost Report Data file (IRFCRD) from HCFA was utilized to obtain information on output and input variables and market and facility features for 791 multiple-output facilities. Information regarding population characteristics was obtained from the Area Resources File. Study Design. Cross-sectional data for the year 1997 were utilized to obtain facility-specific technical efficiency scores estimated through Data Envelopment Analysis (DEA). A binary variable of efficiency status was then regressed against its market and facility characteristics and control factors in a multivariate logistic regression analysis. Principal Findings. The majority of the facilities in the sample are functioning technically inefficiently. Neither the intensity of market competition nor a policy of dialyzer reuse has a significant effect on the facilities' efficiency. Technical efficiency is significantly associated, however, with type of ownership, with the interaction between the market concentration of for-profits and ownership type, and with affiliations with chains of different sizes. Nonprofit and government-owned facilities are more likely than their for-profit counterparts to become inefficient producers of renal dialysis outputs. On the other hand, that relationship between ownership form and efficiency is reversed as the market concentration of for-profits in a given market increases. Facilities that are members of large chains are more likely to be technically inefficient. Conclusions. Facilities do not appear to benefit from joint production of a variety of dialysis outputs, which may explain the ongoing tendency toward single-output production. Ownership form does make a positive difference in production efficiency, but only in local markets where competition exists between nonprofit and for-profit facilities. The increasing inefficiency associated with membership in large chains suggests that the growing consolidation in the dialysis industry may not, in fact, be the strategy for attaining more technical efficiency in the production of multiple dialysis outputs. [source] DESIGNING A MARKET STRUCTURE WHEN FIRMS COMPETE FOR THE RIGHT TO SERVE THE MARKET,THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 3 2005Michel Mougeot In many industries, a regulator designs an auction to select ex-ante the firms that compete ex-post on the product market. This paper considers the optimal market structure when firms incur sunk costs before entering the market and when the government is not able to regulate firms in the market. We prove that a free entry equilibrium results in an excessive entry when the entry costs are private information. Then, we consider an auction mechanism selecting the firms allowed to serve the market and show that the optimal number of licences results in the socially optimal market structure. When all the potential candidates are actual bidders, the optimal number of firms in the market increases with the number of candidates and decreases with the social cost of public funds. When the market size is small, as the net profit in the market decreases with the number of selected firms, entry is endogenous. As increasing competition in the market reduces competition for the market, the optimal structure is more concentrated than in the previous case. [source] | ||||||||||