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Ebook India’s Economic Growth and Market Potential: Benchmarked Against China

... In 16 years, India made remarkable strides contrary to the general belief that China ran away with the growth in the 1990s. So there ... research questions, and thus builds on the base of knowledge. The paper is organized as follows. First, we discuss the economic ...

Story - wulan - 06/02/2010 - 07:55 - 0 comments - 0 attachments

Ebook Population, Development and HIV/AIDS with Particular Emphasis on Poverty

... International Conference on Population and Development (General Assembly resolution S-21/2, annex), adopted at the twenty-first special ... the means to cope with HIV/AIDS. The poor often lack the knowledge and awareness that would enable them to protect themselves from the ...

Story - puput - 10/30/2010 - 08:25 - 0 comments - 0 attachments

Ebook The impact of the global financial crisis on mining in Katanga

... most important mining province, to the best of our knowledge no efforts have yet been made to compile the available information in a way that allows for the identification of a number of general trends. The second purpose of this paper is to make an assessment of ...

Story - puput - 09/30/2010 - 08:35 - 0 comments - 0 attachments

Ebook Does Export and Productivity Growth Linkage Exist? Evidence from the Indian Manufacturing Industry

... there is a common opinion that international trade in general and export in particular enhances economic growth and improves the ... emphasis on the productivity growth. Therefore a precise knowledge of the link between exporting and productivity growth is very ...

Story - wulan - 05/26/2010 - 06:08 - 0 comments - 0 attachments


Ebook Defaultable Debt, Interest Rates, and the Current Account

Submitted by wulan on Wed, 12/02/2009 - 04:34

World capital markets have experienced large?scale sovereign defaults on a number of occasions, the most recent being Argentina?s default in 2002. This latest crisis is the fifth Argentine default or restructuring episode in the last 180 years. While Argentina may be an extreme case, sovereign defaults occur with some frequency in emerging markets.

A second set of facts about emerging markets relates to the behavior of the interest rates at which these economies borrow from the rest of the world and their current accounts. Interest rates and the current account are strongly counter cyclical and positively correlated with each other. That is, emerging markets tend to borrow more in good times and at lower interest rates than in slumps. These features contrast with those observed in developed small open economies.

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PDF Ebook The Trader’s Guide to Key Economic Indicators

Submitted by antoq on Thu, 04/16/2009 - 07:49

Investing without understanding the economy is like taking a trip without knowing anything about the climate of your destination. Inclement weather can wreak havoc with a vacation, especially if it involves outdoor activities. Just so, putting hardearned money into the stock or bond market when economic conditions are unfavorable can destroy financial plans for a comfortable retirement, a new house, or a child’s college education.

No one understands this better than Wall Street investment banks, brokers, and research institutions. All of these have adopted a top-down approach to securities analysis that begins with a forecast of the general economic climate, including interest rate projections, currency forecasts, and estimates of domestic and foreign economic growth. In this, they are following one of the precepts laid down by Benjamin Graham and David Dodd in their 1940 investors’ bible, Security Analysis: “Economic forecasts provide essential underpinning for stock and bond market, industry, and company projections."

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Ebook Earnings Trends and Beating Analysts’ Forecasts: Are Both Considered Together Over Time?

Submitted by wulan on Tue, 04/13/2010 - 06:39

Prior research in accounting indicates the importance placed by market participants on two features associated with earnings the trend in a firm’s earnings over time, and whether the firms’ earnings meet or beat analysts’ forecasts. For example, Barth, Elliott, and Finn (1999) find that when earnings show consistent increases over time (i.e., exhibit a positive trend), firms are rewarded with a higher price-earnings multiple. Bartov, Givoly, and Hayn (2002) reveal a market valuation premium placed on firms that meet or beat analysts’ earnings forecasts, and Kasznik and McNichols (2002) show that beating these forecasts consistently is particularly valuable. Most of the existing research has separately examined either earnings’ trends or meet/beat performance, with less focus on examining how the market reacts to both factors in combination.

The purpose of our study is to investigate how investors’ react to the combination of earnings trends and performance relative to analysts’ forecasts over multiple periods. We show this reaction is not static, but rather depends on the intertemporal consistency of those two earnings features.

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