This paper is dedicated to the investigation of the strategies related to the high-dividend portfolio investment. The aim of this research is to increase the high-dividend portfolio efficiency by adding some filters and optimization weights of the assets in the portfolio. In order to achieve this goal, the authors complement the classical version of the «Dogs of the Dow» strategy with financial indicators ROA and P/E with equal and optimized weights of the assets in each portfolio. Two additional parameters are also used in the process of testing: the number of stocks and the month of the annual portfolio rebalancing. Thus, the obtained models have high-quality advantages in comparison with the traditional concept of high-dividend investing, eliminating its inherent disadvantages and providing higher rates of return.
In recent decades, financial science actively covers new segments of the financial system that have not been studied previously. One of such areas is the analysis of impact of news on pricing in particular sectors of the stock market. The paper is related to this direction and aims to reveal the influence of news on stock price performance of companies in the U. S. film industry. To reach the goal we employed the abnormal return and trade volume analysis method, as well as multiple linear regressions. Basing on the results of the calculations, we provide the estimations of the general level of return and trade volume reaction on the release of positive and negative news. The significance of the obtained results showed the possibility of their application in practical investment activity, which makes them useful for individual and corporate investors, and fund managers who consider this sector as the possible destination for funds investment. The revealed mechanisms represent a good base for further research of the film industry in different countries and similar market segments.
Subject The article analyzes in detail the most significant cases of algorithmic systems' impact on market mechanisms and trading participants. Objectives Our goal is to study the specifics of the influence of algorithmic trading segment on sustainable development of stock markets. Methods We review relevant stock market statistics, laws and regulations, and opinion of stock market experts; systematize analytical, scientific and practical information in the area under investigation. Results The study shows that algorithmic trading exerts a significant impact on stock index movements, market liquidity and efficiency, and also on some other indicators characterizing the sustainable market development. Conclusions The impact of algorithmic trading segment on stock markets is quite negative. Even today it gives rise to concern of market specialists and State regulators. Meanwhile, the current legislative and technological measures fail to provide a deterrent effect on the revealed negative aspects of algorithmic trading. Therefore, its adverse impact may increase in the near future.
Despite the efforts of law enforcement agencies of the world’s leading countries, the influence of radical movements has become much stronger in last decades. Terrorist acts lead to a sharp destabilization in the country especially in its economy. Although the number of terrorist acts is growing, their impact on the financial markets is still barely studied. That is why the aim of this work is to define the general nature of the impact of terrorist attacks on world stock markets. For this purpose, the authors use data for nineteen countries for the period from 1988 to May 2017. The situational analysis, which is based on this data, made it possible to identify the main trends in the impact of terrorist attacks on the dynamics of market indices in developed and developing countries, and also to describe Russian specifics. The conclusions of this work can be useful to market agents as well as to the organizers of trades and regulators, for the formation of timely and correct measures to stabilize the financial system in such situations.
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