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Copyright of Dilemas Contemporáneos: Educación, Política y Valores is the property of Dilemas Contemporaneos: Educacion, Politica y Valores and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El objetivo fue analizar los efectos financieros producidos por la Pandemia COVD-19 en las empresas que integran el índice Dow Jones Industrial Average (DJIA). Se realizó la aplicación de la técnica Estudio de Eventos, a 30 entidades que conforman el DJIA, considerando el impacto financiero de las fechas de los comunicados de la Organización Mundial de la Salud (OMS) en los rendimientos accionarios. Los resultados del análisis prueban la existencia de evidencia favorable con relación a la eficiencia de mercado del DJIA, además, se pudo demostrar que los beneficios bursátiles de las organizaciones que integran el sector tecnología, tienen un rendimiento positivo ante los informes sobre crisis sanitarias difundidos por la OMS.

Copyright of Al Bashaer Economic Journal is the property of Al Bashaer Economic Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

the aim of this paper is to estimate using monthly data the influence of the Mexican Stock Market in the nominal Exchange Rate from 1993 to 2022. We conducted an Exploratory Data Analysis to identify the most important correlations of the following monetary variables: 28-day Mexican Debt bills/ (T-Bill), interest rates, inflation, and Stock Exchange Market both from Mexico and from the USA respectively. We then resorted to a VAR model to indentify which of these variables determined changes in Mexico´s nominal Exchange Rate more significantly. During the period in question the model showed, that Exchange Rate variations were driven by the Mexican Stock Exchange Market, the Dow Jones Industrial Average and the US Treasury Bills. The model also pointed out that variations in Mexican Stock Market were determined by the Mexican Stock Market itself, the Dow Jones Industrial Average and the US Treasury Bills (T-Bills). [ABSTRACT FROM AUTHOR]

The aim of this paper is to estimate using monthly data the influence of the Mexican Stock Market in the nominal Exchange Rate from 1993 to 2022. We conducted an Exploratory Data Analysis to identify the most important correlations of the following monetary variables: 28-day Mexican Debt bills/ (T-Bill), interest rates, inflation, and Stock Exchange Market both from Mexico and from the USA respectively. We then resorted to a VAR model to indentify which of these variables determined changes in Mexico´s nominal Exchange Rate more significantly. During the period in question the model showed, that Exchange Rate variations were driven by the Mexican Stock Exchange Market, the Dow Jones Industrial Average and the US Treasury Bills. The model also pointed out that variations in Mexican Stock Market were determined by the Mexican Stock Market itself, the Dow Jones Industrial Average and the US Treasury Bills (T-Bills).

This study attempts to find out the possible opportunities for the investors of Pakistan Islamic market to maximize the benefits of divergence. Dow Jones Islamic market returns (DJIMR) of four different regions named as Dow Jones Islamic Americas, Dow Jones Islamic European, Dow Jones Islamic Asian Pacific and Dow Jones Islamic Middle East and North Africa Regions across the Pakistan Karachi Meezan Index-30 have been used to capture the approach of diversification benefits. According to objectives, Multivariate GARCH--Dynamic Conditional Correlation (DCC) model is applied and it is suggested that local investors of Pakistan should prefer to invest in Asian pacific region, then to Americas region and further Middle East and North Africa region and least preference should be given to European region to maximize benefits from diversification. In order to capture the change in diversification benefits during various stock holding horizons, Continuous wavelet transformation-CWT is applied and results have indicated insignificant relationship/correlation between two markets (local and international markets of all regions) for short period of holdings rather medium and long term holdings period. Indeed, this study has focused on advance concept of incorporating the role of stock holding horizons while determining the benefits of diversification which has greater implications in the field of portfolio diversification. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Economic Policy Researches / İktisat Politikası Araştırmaları Dergisi is the property of Journal of Economic Policy Researches / Iktisat Politikasi Arastirmalari Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This work aims to analyze the relationship between stocks in the financial market of the Tehran Stock Exchange embedded in their transfer entropy. In this regard, the behavior of the transfer entropy between indices of 180 corporations of the Tehran Stock Exchange has been studied. Then the footprint of crises of the market has been searched in the trends of the transfer entropy. The result has been compared with the result of the analysis imposed on the stocks included in the Dow Jones industrial index in the stock exchanges of the United States. In order to investigate the financial crisis of the Tehran Stock Exchange, the stock price data of 180 companies in this market that were active in the period from 2008 to 2018 are analyzed. It is observed that the average pairwise transfer entropy of indices in the Dow Jones group declines over the financial crises in the United States. In Iran, despite the United States, the financial crises have not left a footprint in the pairwise transfer entropy over the studied period. Such an observation suggests future studies on the pairwise and possibly collective behaviors of indices in Iran and the United States.

We have investigated the time series of constituents of the Dow Jones Industrial Average (DJIA) for a period of 18 years (2000-2018). DJIA is a dominant stock market index comprising of thirty US based companies. We have applied the Random Matrix Theory (RMT), complex network analysis and hierarchical clustering techniques to extract out the information from the time series of DJIA stocks. The impact of sub-prime crisis of 2008(FC08) on structure and dynamics of network of DJIA stocks is studied by diving the periods under consideration into three distinct periods; pre crisis (PRC), during crisis (DUC) and post crisis (POC) on the basis of volatility. The RMT analysis shows that data analyzed contain important information. Network analysis reveals high correlation among the stocks in the DUC period. The MST and hierarchical clustering techniques support the results of RMT analysis. Degree centralities, closeness centralities and clustering coefficients of DJIA networks increases in DUC period. High correlation and closeness among stocks in DUC period is depicted in various analyses. The dynamic analysis is also carried out which detect various extreme events such as Covid-19. In conclusion, investigation shows that during the period of crisis, there are significant changes in the structure and dynamics of DJIA network. The findings of investigation can be utilized as risk indicator and detection of such crises in future. [ABSTRACT FROM AUTHOR]

Purpose - This paper aims to examine the effect of both inflation rate and interest rate on stock prices using quarterly data on non-financial firms listed in DJIA30 and NASDAQ100 for the period 1999-2016. The stock duration model is used to measure the sensitivity in variations in inflation rates and interest rates on stock prices. Design/methodology/approach - The authors use standard statistical tools that include Johansen cointegration test, linearity, normality tests, cointegration regression, Granger causality and vector error correction model. Findings - The results of panel Johansen cointegration analysis show that cointegration exists between the stock prices, the changes in stock prices due to inflation rates and the changes in stock prices due to real interest rates. The results of cointegration regression show that inflation rates are negatively associated with stock prices, the real interest rates and stock prices are positively associated, changes in real interest rates and inflation rates Granger cause significant changes in stock prices, significant speed of adjustment to long run equilibrium between observed stock prices and real interest rates and significant speed of adjustment to long run equilibrium between changes in stock prices due to real interest rates and changes in inflation rates. Originality/value - This paper contributes to the empirical literature in three ways. The paper examines the effects of inflation and interest rates on stock prices differently from other related studies by separating inflation from real interest rates. The paper examines the causality between stock prices, interest and inflation rates. This paper offers significant updated validity to extended literature that a negative association exists between stock prices and inflation rates. This validity can be considered as an existence a theory of stock prices, inflation rates and interest rates.

This paper analyses the response of stock markets to vaccine availability. The objective of this paper is to examine the differential effect of information about the arrival of COVID vaccine on the stock price performance of five main global stock market indexes. The paper relies on the prior theory of Efficient Market Hypotheses (EMH). Data on stock price performance, seven months before vaccine arrival, and seven months within the vaccination period were from Trading Economics stock indexes archives for five main market indexes namely (Dow Jones, Shanghai, S&P, FTSE, and EURONEXT). The data were analysed using the t-test of mean difference in stock prices before and during vaccine at 5% alpha level. Results for the five indexes analysis show that stock prices during the arrival of vaccine significantly outweigh the stock prices before vaccine arrival at p-values below 0.01. The mean stock price increases during vaccine arrival ranges from 7% to over 20% for the different indexes. The paper provides practical information for investors who need to know how sensitive the various indexes are to vaccine information. The paper also provides an avenue for future research to expand this initial research on vaccine effect on stock prices. Furthermore, the paper presents a veritable case study for economics and finance postgraduate students in the universities. This paper fills existing gap in knowledge by being the first to analyse the effect of COVID vaccine arrival on the stock price of five main global stock indexes and contributes by indicating that stock indexes are sensitive to vaccine production with diverse percentages of sensitivity. [ABSTRACT FROM AUTHOR]

Los índices de los mercados financieros reflejan el devenir de la economía y principalmente en los mercados en donde estos se encuentran desarrollados, es común observar en las noticias económicas las perspectivas y el comportamiento de estos índices, por lo tanto, es importante conocer y ahondar sobre su correspondiente funcionamiento. El estudio se basa en un análisis descriptivo utilizando la síntesis y recopilando datos de fuentes secundarias para establecer los hechos de la funcionalidad de estas herramientas bursátiles y cómo ha evolucionado la cotización de estos mercados. Se aborda la cotización de estos índices en una periodicidad del año 2000 al año 2020 con el uso del análisis técnico a través de indicadores y análisis de gráficos. Es el objetivo de este estudio en primera instancia definir algunos conceptos relevantes sobre los índices bursátiles, posteriormente se explica la historia del índice de Dow Jones, la Teoría de Dow y su similitud con la Teoría de Robert Elliot, se analiza el comportamiento y evolución del mercado. Se desarrolla un análisis sobre el índice S&P 500 explicando cómo se conforma y elabora además del comportamiento y evolución. Por último, se describe el Nasdaq 100, cómo este índice tecnológico se desarrolla, reflejando los vaivenes de la economía de EE. UU. y como se ve afectado por eventos internacionales.

Orientation: The global financial markets have been severely affected by the influence of the Coronavirus Disease 2019 (COVID-19). Across the board, most of the financial markets have experienced a very sharp decrease in trade as a consequence of this pandemic. Investors sometimes choose to include such assets in order to diversify portfolios and also at the same time distribute risk away from the usual financial markets. As the global economy begun to falter under the influence of COVID-19, the value of holding fine art as an alternative investment increased. Research purpose: This article examines the implications of the impact of COVID-19 on the financial markets and the global art markets. This article explores the real impact of COVID-19 on the respective stock markets and then compared it against the global art price index, both in European euro and American dollar. Motivation for the study: The impact of COVID-19 will have numerous spill over effects into other sectors of the economy, one such sector being the market for fine art. Fine art as an investment item has many desirable qualities to an investor and can act as an alternative investment asset because of its ability to hold value. Research approach/design and method: Five financial markets are analysed in this study, namely the German DAX, the American Dow Jones, the Japanese Nikkei and the London Stock Exchange and the Johannesburg Stock Exchange (JSE), Financial Times Stock Exchange (FTSE), by using a combination of market simulations and forecast techniques, including Auto-Regressive Integrated Moving Average (ARIMA), Generalized Auto-Regressive Conditional Heteroskedasticity (GARCH), Monte Carlo simulation and Minimum Mean Square Error (MMSE) techniques. The real impact of COVID-19 is assessed on the respective stock markets and then compared against the global art price index, both in European euro and American dollar. Main findings: The findings show that there is a significant positive influence on holding fine art as an alternative investment, especially as the levels of market risk increase because of COVID-19. Practical/managerial implications: The impact of an economic or social crisis has led to a diversification of trade in investments. Similar to currency portfolios been diverted into gold trade to mitigate risk due to political or social unrest, equity trading has mitigated some risk into alternative forms of investment. Contribution/value-add: This article highlights the nature of portfolio diversification into fine art as an alternative investment, brought about due to extreme market conditions.

Copyright of Econder International Academic Journal is the property of Econder International Academic Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this study is to determine whether the stock indices of some developed and developing countries react similarly to the price movements in the Dow Jones Industrial Average (DJIA). In this study, the impact of DJIA on other indices during the 2008 global financial crisis, was explored by using the Vector Error Correction Model. The data used was analyzed in two periods: (1) the expansionary period; and (2) the contractionary period of the FED's policies. The results of the analysis indicate that the developed and emerging stock markets react differently to the DJIA. The results include important findings for decisions by financial investors and policy makers.

The aim of this study is to demonstrate the relationship between Participation-30 index in Turkey and commodity markets, national, international indexes. Islamic finance is increasingly being the research subject of finance literature. Islamic finance shaped by religious principles and prohibits investing areas that the religion doesn't consider appropriate. In 2011, the Participation-30 index consisting of stocks in accordance with the participation banking principles was created in Turkey. The participation index is a stock exchange index in which stock selections are made based on index rules. Then, in 2014, the Participation-50 index and Model Portfolio index were created, and three participation indexes were started to be calculated. Islamic finance mainly operates on the basis of profit and loss sharing and supports the real sector. In this context the activity fields of the companies which are operating in participation indexes are based on production of goods and services so that the indexes have a special importance for commodity markets and commodity indexes. As the results of our research, one-way causality between Participation-30 index and Dow Jones Islamic Market was determined. However, we determined bi-directional causality between Participation-30 index and BIST 100 index. [ABSTRACT FROM AUTHOR]

This paper presents a current analysis of the effect of coronavirus pandemic on select global stock indexes (SSE Composite Index [China], Euronext 100 [Europe], Dow Jones Industrial Average [United States of America]. The objective of the paper is to evaluate the extent and direction of the differential effect of COVID-19 pandemic on select world stock index. The data on stock value performance were gathered for fifty days before and fifty days within the Coronavirus epidemic; data were analysed using the paired t-test of difference in mean stock values at an alpha level of 0.05(5%). The results reveal that the COVID-19 pandemic has different effects on the stock markets. Dow Jones Industrial Average showed a significant reduction in mean stock value during the coronavirus period, Chinese Stock Exchange Composite Index experienced a significant increase in mean stock values during epidemic higher than before the epidemic. On the contrary, the S&P 500 and the Euronext 100 indexes show a non-significant difference in mean stock price. The paper provides direction to stock market participants, investors and speculators regarding a safer investment destination during this time of COVID-19 pandemic; the paper serves a good case study for class room teaching and also provides direction for further research. This paper provides the first empirical research on the early effect of COVID-19 pandemic on three global important regional stock indexes, which finds that some stock markets such as the Shanghai Composite Index is resilient to COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

An array of measures aimed at relaxation of the restrictions on international flow of capital markets and trade have been taken in most of the developed and developing countries. The worldwide policy changes and initiatives are expected to display a deep impact on the capital market indices such that their movements must be in tandem. The study closely examines the extent of integration of capital market indices across the major countries of the world. Main findings: While S&P 500, Nasdaq, Dow Jones, Dax Index, BSE 30 and CAC 40 index have shown strong positive co relationship among themselves, indices like Shanghai, TSXE and Nikkei have displayed almost nonexistent coherency with other stock indices. Bovespa, Hang Seng, BSE 30 and DAX index seems to have a tangent influence on each other's stock prices. RTSI has portrayed certain movements in tandem with Hang Seng and Bovespa but no relationship with other indices. Thus, the study concluded safely that the markets do react to global cues and any happening in the global scenario be it macroeconomic or country specific (foreign trade channel) affect the various markets. [ABSTRACT FROM AUTHOR]

Corporate Sustainability Performance Measurement along with Corporate Environmental Sustainability aims to address the social and economic aspects. Concerns emerging from the three dimensions are being reduced to a single dimension of them. Multi-criteria decisionmaking methods, suggests a useful framework for assessing the variables together. Corporate sustainability and economic business activities are focused on the social and environmental impacts. In this sense, the economic activity established by the businesses do follow social and environmental impacts, therefore the generation of related information of these effects is being considered essential on the structure formation on a sustainable business. In this study, it has been used Dow Jones Sustainability Index monthly data from 2009 to 2015 in a range of 12 months to help investors to make decisions. The comparison of ARIMA and Exponential Smoothing models has been conducted, wherein the results showed that ARIMA model provided better estimates meantime those who invested in a stock portfolio with the same composition as the DJSI proved to ensure positive earnings. The purpose of the essay is to give a conclusion to the future of the practice. [ABSTRACT FROM AUTHOR]

Financial time series have a fractal nature that poses challenges for their dynamical characterization. The Dow Jones Industrial Average (DJIA) is one of the most influential financial indices, and due to its importance, it is adopted as a test bed for this study. The paper explores an alternative strategy to the standard time analysis, by joining the multidimensional scaling (MDS) computational tool and the concepts of distance, entropy, fractal dimension, and fractional calculus. First, several distances are considered to measure the similarities between objects under study and to yield proper input information to the MDS. Then, the MDS constructs a representation based on the similarity of the objects, where time can be viewed as a parametric variable. The resulting plots show a complex structure that is further analyzed with the Shannon entropy and fractal dimension. In a final step, a deeper and more detailed assessment is achieved by associating the concepts of fractional calculus and entropy. Indeed, the fractional-order entropy highlights the results obtained by the other tools, namely that the DJIA fractal nature is visible at different time scales with a fractional order memory that permeates the time series.

The paper features an examination of the link between the behaviour of oil prices and DowJones Index in a nonlinear autoregressive distributed lag nonlinear autoregressive distributed lag (NARDL) framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a monthly West Texas Intermediate (WTI) crude oil series from Federal Reserve Bank of St Louis (FRED), commencing in January 2000 and terminating in February 2019, and a corresponding monthly DOW JONES index adjusted-price series obtained from Yahoo Finance. Both series are adjusted for monthly USA CPI values to create real series. The results of the analysis suggest that movements in the lagged real levels of monthly WTI crude oil prices have very significant effects on the behaviour of the DOW JONES Index. They also suggest that negative movements have larger impacts than positive movements in WTI prices, and that long-term multiplier effects take about 9 to 12 months to take effect.

The purpose of financial reporting is to help users make informed decisions. Over time the reporting process has become more and more complex. Reporting standards and rules have increased both in terms of quantity and sophistication. Because of this, it is important to ask the question about the basic premise of financial reporting - is the information being reported by companies useful to its intended users? This study examines the financial statement notes of the 30 companies that comprise the Dow Jones Industrial Average. Readability tests are performed on the financial statement notes for the years 2000, 2010 and 2015 to determine if the information being reported can be used by the average user and if the level of complexity has changed over time. The results revealed that the use of the passive voice in financial statement note disclosures has not changed over time. However, based on the Flesch Reading Ease score, the results revealed that over time the readability of disclosures notes has decreased. The declining trend in readability of financial statement note disclosures is a cause for concern because it is important the users of these statements are able to understand the information provided to them so they can make the best decisions. [ABSTRACT FROM AUTHOR]

Traditionally, the economic international journalism has had in the Anglo-Saxon groups Dow Jones (USA) and Pearson (Great Britain), publishers of The Wall Street and Financial Times respectively, his big world models. Nevertheless, the new century has brought enormous convulsions to the sector, to the newspapaers of elite and big agencies specialized in economic information as Reuters, Thomson or Bloomberg. To the battle in Internet, there add the expansion of the informative economic power and the changes of mentality of the companies and of the audiences. All this has derived in a fierce war led by the big leaders who, with more than one century of tradition someones, have been object of sales or mergers, financial indispensable operations to be able to adapt to the new times. The aim of this article is to analyze the path of the great economic journalism, with special dedication to two fronts: one, to know how these neswspapers of elite are positioned in the network; other one, the dilemma between continuing being a journalism of quality, rigorous, cosmopolitan and expensive of supporting, or to change towards an ideological, gruesome journalism or amarillista that, since in other specialities, also has spread between the financial journalism

En español: Tradicionalmente, el periodismo económico internacional ha tenido en los grupos anglosajones Dow Jones (EE.UU.) y Pearson (Gran Bretaña), editores de The Wall Street y Financial Times respectivamente, sus grandes referentes mundiales. Sin embargo, el nuevo siglo ha traído enormes convulsiones al sector de las que no se han librado ni los periódicos de élite ni las grandes agencias especializadas en información económica como Reuters, Thomson o Bloomberg. A la batalla en Internet, se suman la expansión del poder informativo económico y los cambios de mentalidad tanto de las empresas como de las audiencias. Todo ello ha derivado en una guerra encarnizada, protagonizada por los grandes líderes que, con más de un siglo de tradición algunos, han sido objeto de ventas o fusiones, operaciones financieras imprescindibles para poder adaptarse a los nuevos tiempos. El objetivo de este artículo es analizar la trayectoria del gran periodismo económico, con especial dedicación a dos frentes: uno, conocer cómo se están posicionando estos periódicos de élite en la red; otro, la disyuntiva entre continuar siendo un periodismo de calidad, riguroso, cosmopolita y caro de mantener, o cambiar hacia un periodismo ideológico, truculento o amarillista que, como en otras especialidades, también se ha extendido entre el periodismo financiero. In english: Traditionally, the economic international journalism has had in the Anglo-Saxon groups Dow Jones (USA) and Pearson (Great Britain), publishers of The Wall Street and Financial Times respectively, his big world models. Nevertheless, the new century has brought enormous convulsions to the sector, to the newspapaers of elite and big agencies specialized in economic information as Reuters, Thomson or Bloomberg. To the battle in Internet, there add the expansion of the informative economic power and the changes of mentality of the companies and of the audiences. All this has derived in a fierce war led by the big leaders who, with more than one century of tradition someones, have been object of sales or mergers, financial indispensable operations to be able to adapt to the new times. The aim of this article is to analyze the path of the great economic journalism, with special dedication to two fronts: one, to know how these neswspapers of elite are positioned in the network; other one, the dilemma between continuing being a journalism of quality, rigorous, cosmopolitan and expensive of supporting, or to change towards an ideological, gruesome journalism or amarillista that, since in other specialities, also has spread between the financial journalism.

Investment in various assets is associated with returns and risks. Especially precious metals are considered profitable and safe. Our analysis for the United States in 2005 – Q2 2015 demonstrates that it is very questionable. In this period, which included the US financial crisis, precious metals were coupled with a greater price volatility and lower real income than was the case with stocks in the DJIA index. Even over a sufficiently long period, gold and silver were not a good store of value with positive real returns. Moreover, demand deposits were also more profitable than gold in the longer term after 1980. In the long run, contrary to the beliefs, precious metals may not to keep good value in the physical form or in the form of securities linked to the price development of these assets. Commemorative and historical coins with a numismatic value are the most appropriate investment in precious metals. However, this investment is also associated with some risk. [ABSTRACT FROM AUTHOR]