The aim of this paper is to test whether the momentum effect is still exist in UK financial market and the test for the effect and profitability of momentum strategies in paper is based on the methodology used by Jegadeesh and Titman (1993) and DeBondt and Thaler (1985, 1987). While, this study assess the profitability of JxK trading strategies, where the securities are assigned to portfolios according to a ranking in period t based on the previous J months ‘returns. In order to avoid biases,…
Based on the good management theory which states that when the company has a good reputation and sharing in social and environmental activities, this in turn will end up into a strong financial position. This means that corporate social performance come first then corporate financial performance. Therefore, in this dissertation, environmental performance as a part of corporate social performance is considered to be the independent variable which is measured by the ISO 14001 as dummy variable and…
funds rate. Investopedia.com explains this rate as, “ The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution overnight.” It then goes on to state, “ The federal funds rate is one of the most influential interest rates in the U.S. economy, since it affects monetary and financial conditions, which in turn have a bearing on key aspects of the broad economy including employment, growth and inflation” (Federal funds rate,…
In theory, the commodity market shocks the stock market through affecting the performance of listed companies and the plate linkage, while the stock market influences the commodity market by reflecting the macroeconomic expectations. At the same time, the cross-market flow of funds leads to a competitive and alternative relationship between the two markets. In this point of view, the relationship between the two markets exists uncertainty and complicacy. The impact of the commodity market on…
hChemical kinetics deals with the rates of chemical processes. Any chemical process is considered to consist of number of one or more single-step step which are known as elementary reactions elementary processes or elementary steps. Elementary reactions may involve dissociation or isomerisation of a single reactant molecule, which is referred as unimolecular step. Also there may be a single collision between two molecules, which is referred as a bimolecular step. It should be noted that…
peroxomonosulphate with Lactic acid was studied in the presence of Mn(II) at alkaline pH. The reaction followed first order with respect to peroxomonosulphate. The rate of the reaction was studied under pseudo first order condition and found to increases with the [Mn(II)] and lactic acid. Thermodynamic parameters were calculated and reported. Based on the results a rate equation, kinetic scheme and a most probable mechanism has been predicted. Keywords: Alpha hydroxy acid, Lactic acid,…
iodide and hydrogen peroxide. Before calculating the rate of this reaction, the reaction will be carried out 3 times and values will be got. A special timer will be used to measure the time. It could be expected and argued that each time will be able differ from the others in each reaction and it can be explained by changing the quantity of hydrogen peroxide. At the final, it will be obviously observed that there will be some differences in the rate and in the time because of changing the amount…
3.7. Equilibrium isotherms Langmuir isotherm proposed by Langmuir, (1918) with some limitations Dąbrowski, (2001) expressed as: (4) Where qm (mg g–1) is the maximum amount of the metal ion per unit weight of adsorbent, ‘qe’ is equilibrium adsorption capacity (mg g–1), ‘Ce’ is the equilibrium concentration of the adsorbate (mg L–1), and b is a constant which reveals the affinity of binding sites (L mg-1). From the plots between (Ce/qe ) and Ce the slope (1/qm ) and the intercept…
interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender.(Heakal, 2003) The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting…
Portfolio rebalancing model is powerful to explain the exchange rate and equity returns by Hau (2004). Based on the portfolio balance approach, M.Gelman et al. (2015) found a new approach to estimate the correlation between foreign exchange rates, asset prices and capital flows. They showed a long-run equilibrium between REFER and NFH. According to this new equilibrium, there is an equilibrium relationship between the stock of assets held by international investors and the asset prices. The…