Journal articles: 'General trading companies'

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MATSUSHITA, YOSHIHIRO. "Transition of Trading Companies, Part 2: Textile Business of General Trading Companies." Sen'i Gakkaishi 77, no. 3 (March 15, 2021): P—130—P—141. http://dx.doi.org/10.2115/fiber.77.p-130.

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Leonard, Charles. "HE Trading Companies." Industry and Higher Education 6, no. 3 (September 1992): 147–50. http://dx.doi.org/10.1177/095042229200600305.

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The general and legislative background to HE trading companies in the UK is outlined. The optimum company structure is described and the advantages to the host institution and the customer are detailed. The article also touches on some of the tax issues raised by HE trading companies.

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Alt, Lutz. "Business History of General Trading Companies." Journal of International Business Studies 19, no. 2 (June 1988): 312–14. http://dx.doi.org/10.1057/jibs.1988.30.

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Ōshima, Hisayuki. "General Trading Companies in the Interwar Period." Japanese Research in Business History 30 (2013): 49–64. http://dx.doi.org/10.5029/jrbh.30.49.

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Maruyama, Magoroh. "Logic of the Japanese general trading companies." Technological Forecasting and Social Change 34, no. 3 (November 1988): 305–10. http://dx.doi.org/10.1016/0040-1625(88)90073-x.

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SUZUKI, Toshio. "The Overseas Branch Activities of General Trading Companies." Japanese Yearbook on Business History 17 (2001): 3–6. http://dx.doi.org/10.5029/jrbh1984.17.3.

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Jung, Jae-Hwan, Soo-Hyun Sung, So-Young Lim, and Hyun-Boc Lee. "The Risk Management System of Japanese General Trading Companies." Asian Trade Risk Management 1, no. 1 (June 30, 2016): 77–97. http://dx.doi.org/10.22142/atrm.2016.1.1.77.

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Markowicz, Iwona. "Modeling the Survival Time of Trading Companies in the Zachodniopomorskie Voivodship." Acta Universitatis Lodziensis. Folia Oeconomica 4, no. 337 (September 20, 2018): 85–97. http://dx.doi.org/10.18778/0208-6018.337.06.

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The aim of this study was to construct models of trading companies’ lifespan, in individual districts of Zachodniopomorskie Voivodship. The author verified whether the impact of the survival time of trading companies on the survival function in general is the same in individual districts. This may inform potential entrepreneurs’ decisions on whether to set up a trading or other company. The Kaplan‑Meier estimator was calculated and a tests verifying similarities of functions of trading companies within the districts was used. Districts were then divided into groups, according to trading companies’ lifespan. Further on, the functions of the intensity of companies’ liquidation for particular districts were analysed. The rankings of districts were compared in terms of the lifespan of trading companies and businesses in total. In the study, the author used REGON registry, containing data about companies established in Zachodniopomorskie Voivodship in 2009–2011. These entities were observed until the end of 2013. It is something to be considered by both decision makers and entrepreneurs, that the probability of liquidation of a trading company is greater than of any other company. Trading activity is prevailing (the highest percentage of all newly established companies are trading companies), however, trading companies are also most in danger of liquidation.

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Morkunas, Mangirdas, Gintaras Cernius, and Gintare Giriuniene. "Assessing Business Risks of Natural Gas Trading Companies: Evidence from GET Baltic." Energies 12, no. 14 (July 10, 2019): 2647. http://dx.doi.org/10.3390/en12142647.

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The aim of this research is to distinguish business risks that affect natural gas trading companies operating in the liberalized natural gas market and to assess them according to the potential impact on the aforementioned gas trading companies. To achieve this, a study of international scientific literature and empirical research was conducted, as well as the methods of expert survey, Analytical Hierarchy Process with different measurement scales and logical investigation. The research of the business risks of natural gas trading companies reflected that natural gas trading companies in the liberalized market distinguish in significantly different business risks’ portfolios from those that operate under monopoly conditions. It was also found that it is difficult to evaluate the business risks’ importance for the natural gas trading companies acting in liberalized markets because they characterize in a hierarchical structure, which means that they are prone to cascading effects.

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Němeček, Jana. "Customer relationship management influence on sales of selected companies." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 60, no. 2 (2012): 231–36. http://dx.doi.org/10.11118/actaun201260020231.

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General awareness of information technology and business strategy Customer Relationship Management (CRM) among managers in the Czech Republic is for several years, but in comparison with Western states of the European Union the Czech companies are underdeveloped. Apparently also because of the economic crisis is CRM in the Czech Republic begins to be used more. The main goal of implementing CRM is to help to company increase the quality of relationship and communication with customers. In this article are the most common definitions of CRM.The main content of this article is about the analysing and comparing of Trading Income of selected companies doing business in the Czech Republic. There are compared selected companies with implemented information technology and business strategy CRM with companies without implemented CRM and how it could have an impact to the Trading Income of these selected companies. Has CRM implementation helped to increase the positive Trading Income during the economic crisis? Included is an analysis of Trading Income from 2007 to 2010 for selected companies grouped by number of employees. The conclusion summarizes the analysis of results and assumptions and benefits of CRM.

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Sarathy, Ravi. "Japanese Trading Companies: Can they Be Copied?" Journal of International Business Studies 16, no. 2 (June 1985): 101–19. http://dx.doi.org/10.1057/palgrave.jibs.8490453.

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de Beer, Johan. "The price and volume effect of initial single stock futures trading." Corporate Ownership and Control 7, no. 2 (2009): 367–86. http://dx.doi.org/10.22495/cocv7i2c3p4.

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The introduction of single stock futures to a market allows for a per company impact-assessment of futures trading activity. Thirty-eight South African companies were evaluated in terms of a possible price and volume effect due to the initial trading of their respective single stock futures contracts. An event study revealed that SSF trading had little impact on the underlying share prices while a normalised volume comparison pre to post SSF trading showed a general increase in spot market trading volumes.

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Park, Young-Gon, and Moosup Jung. "An Exploratory Study on Sustainability Management Activities of Japanese General Trading Companies." INTERNATIONAL BUSINESS REVIEW 24, no. 3 (September 30, 2020): 149–62. http://dx.doi.org/10.21739/ibr.2020.09.24.3.149.

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Enderwick, Peter. "Between markets and hierarchies: The multinational operations of Japanese general trading companies." Managerial and Decision Economics 9, no. 1 (March 1988): 35–40. http://dx.doi.org/10.1002/mde.4090090104.

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Ramdhani, Muchamad Pahmi. "ANALYSIS OF COST OF SALES AND SALES ON NET INCOME." Inovbiz: Jurnal Inovasi Bisnis 9, no. 1 (June 18, 2021): 133. http://dx.doi.org/10.35314/inovbiz.v9i1.1900.

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This study aims to analyze The cost of sales and sales of net income in retail trading companies listed on the Bursa Efek Indonesia. The population and sample in this study are the financial statements of 12 retail trading companies listed on the Bursa Efek Indonesia for the period 2016-2018. This research technique uses classic assumption test, multiple linear regression analysis, hypothesis test and determination coefficient test. The collection technique uses the documentation and literature review methods. And after the data was collected, the test analysis in this study was carried out with the help of IBM SPSS 26 for Windows. Based on the results of the F test that The cost of sales and sold together has a simultaneous effect on net income in 12 retail trading sub-sector trading companies listed on the Bursa Efek Indonesia.

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Pradana, Eldam, Sudrajat Sudrajat, Pigo Nauli, and Yuliansyah Yuliansyah. "Pengaruh Political Connection terhadap Cumulative Abnormal Return dan Trading Volume Activity pada Pemilihan Presiden 2019." Jurnal Studi Pemerintahan dan Akuntabilitas 1, no. 1 (July 1, 2021): 83–95. http://dx.doi.org/10.35912/jastaka.v1i1.290.

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Abstract Purpose: This study aimed to identify the impact of Political Connection on Cumulative Abnormal Return (CAR) and Trading Volume Activity (TVA) for companies that associate with political figures in the presidential election of 2019. Research methodology: This study used quantitative methods, with a population of 25 companies on the Indonesian stock exchange, through daily stock prices. Result: This investigation showed no significant difference in the Cumulative Abnormal Return between before and after the announcement of the Constitutional Court. Then, there was no significance value on Trading Volume Activity and Cumulative Abnormal Return between before and after the announcement of General Election Commissions. Limitations: In this study, the limitation is observation time which is only 36 days. The number of samples is limited, which only 25 companies with the scope of research of companies that have affiliations with the winners of the 2019 general election. Contribution: This research implicates companies affiliated with politics. This is in the 2019 general election against the winners of the general election in 2019.

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Widiastuti, Maria. "ADVANTAGES FOR THE IMPLEMENTATION OF ERP BASED INFORMATION SYSTEMS IN SERVICE COMPANIES." Jurnal Ilmu Manajemen Terapan 1, no. 3 (January 19, 2020): 218–24. http://dx.doi.org/10.31933/jimt.v1i3.95.

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This article is made is to explain that in general service companies operationally have a simpler business process, compared to trading or manufacturing companies, still need an integrated information system. And the importance of Information Systems for the running of the company, so that it can facilitate the management in making decisions related to the performance of all departments or sections in the company. Integrated information systems can help the management in making company operational reporting, internal control processes over the running of the company's operations, and can provide information needed by management in formulating the company's business development strategy. Companies in developing information systems that can achieve these objectives can use an ERP-based information system (Enterpise Resousch Planning).

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Tousek, Zdenek, Jana Hinke, Barbora Malinska, and Martin Prokop. "The Performance Determinants of Trading Companies: A Stakeholder Perspective." Journal of Competitiveness 13, no. 2 (June 30, 2021): 152–70. http://dx.doi.org/10.7441/joc.2021.02.09.

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This research aims to propose a model adding to the competitiveness of companies by identifying factors that determine the profitability of the selected companies (both publicly traded and unquoted private companies of all sizes). Another aim is to prove a dichotomy between the motivation of equity holders and senior lenders as far as acceptable financial leverage is concerned. The paper is innovative based on its combination of several different factors influencing corporate profitability (i.e. firm-specific effects: current ratio, labor cost ratio, working capital financing ratio, long-term financing ratio, return on sales, age of the firm; industry-specific effects and other macroeconomic effects) and by assessing determinants concerning the interests of shareholders and other stakeholders using a panel regression analysis with fixed effects. The authors prove that the determinants of the operating performance of Czech trading companies differ substantially when the performance is measured by ROA or by ROE. This clearly shows discrepancies between the equity holder interest to maximize their returns on investment and the other stakeholder interests. Specifically, the authors have found that the leverage, both in terms of working capital and long-term financing, negatively impacts returns on assets. On the other hand, it positively impacts returns for equity holders both in the Wholesale and Retail sub-samples. Interestingly, other determinants of operating performance, such as capital intensity, labor cost ratio, historical profitability, and macroeconomic variables, are of comparable significance, impacting both the ROA and ROE analyses.

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Aldo, Nikolas, and Ratnawati Kurnia. "Right Issue: The Impact to Abnormal Return, Share Liquidity and Company's Financial Performance (Empirical Study at Companies listed at Indonesia Stock Exchange)." Global Journal of Business and Social Science Review Vol. 2(4) 2014 2, no. 4 (October 19, 2014): 01–08. http://dx.doi.org/10.35609/gjbssr.2014.2.4(1).

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Objective - The aim of this research is to analyse the difference of abnormal returns, shares liquidity proxies by trading volume activity and a company financial performance proxies by current ratio and price earnings ratio before and after the rights issue. Methodology/Technique - Samples were taken by purposive sampling. Number of samples are 26 companies listed on the Indonesia Stock Exchange that take the right issue for the year 2006 -2012. Testing of the hypothesis was done by using paired sample t-test for normally distributed data and Wilcoxon signed rank test for data that are not normally distributed. Findings - The results of this study showed that there is a significant difference in share liquidity proxies by trading volume activity before and after the announcement of the rights issue. After the right issue there are decreasing the number of trading volume activity because shareholders prefer to maintain their proportion of the share capital. Novelty - The increasing number of companies listed on the Indonesia Stock Exchange showed that there is positive growth of capital market in Indonesia. To be sustain in the market, companies need to improve their competitive advantage by optimizing resource utilization such as financial resources. One of the corporate action to raise the capital is the right issue. Type of Paper - Empirical Keywords: Abnormal Return, Company's Financial Performance, Right Issue, Shares Liquidity.

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20

Rhee, Chong Yun, and Hyun Sung Kim. "A Controversy on the Decline of Japanese General Trading Companies and Their New Business." Journal of international area studies 13, no. 1 (April 30, 2009): 369. http://dx.doi.org/10.18327/jias.2009.04.13.1.369.

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Meyer‐Ohle, Hendrik. "Walking with dinosaurs: general trading companies in the reorganization of Japanese consumer goods distribution." International Journal of Retail & Distribution Management 32, no. 1 (January 2004): 45–55. http://dx.doi.org/10.1108/09590550410515542.

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Gelfond, Stuart, Una Dean, Dave N. Rao, and Justin Sedor. "SEC announces new guidance for public company disclosures on cybersecurity risks." Journal of Investment Compliance 19, no. 4 (November 5, 2018): 22–25. http://dx.doi.org/10.1108/joic-06-2018-0041.

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Purpose To discuss the new guidance on public companies’ disclosure obligations regarding cybersecurity risks and incidents, which was recently unanimously approved by the Securities and Exchange Commission (SEC). Design/methodology/approach Outlines the general disclose requirements and the materiality standard set forth by the SEC, explains specific guidance on public company cybersecurity disclosure, and discusses cybersecurity risk management and insider trading policies. Findings In addition to clarifying the disclosure requirements with respect to cybersecurity issues, the article discusses two additional areas of concern identified by the New Guidance that public companies should consider in the context of cybersecurity and related disclosure. First, public companies must design and maintain policies and procedures to help manage cybersecurity risks and respond to incidents as they occur. Second, public companies should consider adopting insider trading policies that specifically prohibit management and other corporate insiders from trading on the basis of material non-public information regarding a cybersecurity risk or incident. Originality/value Practical analysis of the guidance on disclosure obligations regarding cybersecurity risks and incidents, including discussion surrounding two aspects of cybersecurity not previously addressed in prior SEC staff guidance on the topic.

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Septyadi, Mario Ascaryo, and Theresia Hesti Bwarleling. "Pengaruh Volume Perdagangan Saham, Leverage, dan Kebijakan Dividen Terhadap Volatilitas Harga Saham." AKURASI: Jurnal Riset Akuntansi dan Keuangan 2, no. 3 (December 30, 2020): 149–62. http://dx.doi.org/10.36407/akurasi.v2i3.251.

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This study aims to determine the influence of Stock Trading Volume, Leverage, and Dividend Policy both simultaneously and partially from LQ45 Index companies listed on the Indonesia Stock Exchange in 2016-2018. The analysis technique used is multiple linear regression analysis using the IBM SPSS 26 program. This type of research is a quantitative study using secondary data, there are 18 companies as a sample of research data collected by purposive sampling technique. The dependent variable in this study is Stock Price Volatility, while the independent variables are Stock Trading Volume, Leverage, and Dividend Policy. The results showed that partially Stock Trading Volume has a positive and significant effect on Stock Price Volatility. Leverage and Dividend Policy have no significant effect on Stock Price Volatility. It is expected that the results of this study can be taken into consideration for investors to choose the right type of investment based on the level of stock price volatility that is influenced by various factors, especially stock trading volume..

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Ilmiyono, Agung Fajar, Yohanes Indrayono, Hurriyaturrohman -, and Sharah Salsabila. "BOOKTAXDIFFERENCESINLARGETRADINGSUB-SECTORCOMPANIES." Neraca Keuangan : Jurnal Ilmiah Akuntansi dan Keuangan 15, no. 1 (August 14, 2020): 23. http://dx.doi.org/10.32832/neraca.v15i1.3331.

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Taxes play a very important role as a source of state revenue. The existence of corporate obligations as corporate taxpayers results in the implementation of bookkeeping compiled based on General Provisions and Tax Procedures. The purpose of this study is (1) To explain the application of PSAK 46 regarding income tax accounting in large trading subsector companies listed on the Indonesia Stock Exchange. (2) To explain the application of the income tax laws to large trading subsector companies listed on the Indonesia Stock Exchange. (3) To explain the differences between commercial profits and fiscal profits after a fiscal reconciliation (correction) is made to a large trading subsector company listed on the Indonesia Stock Exchange (4) To explain the comparison of compliance rates of large trading sub-sectors listed on the Indonesia Stock Exchange in 2016 -2018 in the Income Tax ActThis research was conducted on large trading sub-sector companies listed on the Indonesia Stock Exchange in 2016 -2018. Samples used in this study were 6 companies. Samples were selected using the purposive sampling method. The analytical method used in this research is descriptive non statistic which functions as an analyzer of the collected data.The results of the study show that in the large trading sub-sector companies that have been analyzed, there are parts of deductible expenses to be used as non-deductible expenses, there is a lot of reserve fund fertilization so that it cannot reduce fiscal profit and there are companiesthat have participated in tax amnesty so that they get a profit on tax that should be owed. Related to the phenomena presented in the background of the study, the tax revenue from the wholesale trade sub-sector is not only from Income Tax Article 22 Imports, but from aspects of costs that cannot reduce fiscal profits (nondeductible expenses) included in Article 9 of the Tax Law Income so that the more costs that cannot be reduced in fiscal profit, the greater the tax burden owed. After a comparison, the fiscal reconciliation of PT Lautan Luas Tbk is a company that meets the Income Tax Act regulations.

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Zhang, Qiao Liang, Jing Wen Cao, and Sheng Zhong. "Economic Consequences of Carbon Tax and Carbon Emission Trading Scheme in Intensive Carbon Emission Enterprises." Advanced Materials Research 962-965 (June 2014): 1717–21. http://dx.doi.org/10.4028/www.scientific.net/amr.962-965.1717.

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Abstract. The paper constructed cost function, carbon emission function, calculated cost-reduction sensitivity coefficient, set four policy scenarios as different combination of carbon tax, carbon emission trading scheme and subsidy with six policy levels, and selected 30 listed companies from intensive carbon emission industry as research samples. The results show that carbon emission trading scheme has better economic consequences, and the combination of carbon emission trading scheme with subsidy is the best carbon emission reduction policy.

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Moss, M. S., Shin'ichi Yonekawa, and Hideki Yoshihara. "The International Business History of General Trading Companies: The International Conference on Business History, 13." Economic History Review 42, no. 3 (August 1989): 437. http://dx.doi.org/10.2307/2596475.

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Shin, Kwang-Shik. "Information, transaction costs, and the organization of distribution: The case of Japan's general trading companies." Journal of the Japanese and International Economies 3, no. 3 (September 1989): 292–307. http://dx.doi.org/10.1016/0889-1583(89)90023-3.

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Seijas, María Nela, and Christian Kuster. "El efecto del tamaño sobre la rentabilidad de las empresas comerciales uruguayas." Revista Electrónica de Comunicaciones y Trabajos de ASEPUMA 21, no. 1 (December 31, 2020): 9–29. http://dx.doi.org/10.24309/recta.2020.21.1.02.

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The objective of this work is to analyze the link between the size and financial economic performance of the Uruguayan trading sector, within the framework of the international contributions of the firm's theory and also considering local background. The database to be used consists of the annual financial statements presented to the General Tax Directorate (DGI) by trading companies belonging to the Special Control Group of Companies (CEDE) and Large Taxpayers of Uruguay in the period 2010-2016. The size dimension of these companies is included in the study through the variables representative of their sales volume or their level of assets. The size of the financial economic performance of the companies is measured through the ROA (Return On Assets) and ROE (Return on Equity) indicators. The methodological strategy consists of the application of dynamic clustering and linear regression tools. The results of the study allow us to characterize the structure of the determinants of the economic and financial performance of commercial companies and their dynamic evolution in the period of analysis, shedding light on the validation of the theories that link it with the size of the companies in Uruguay.

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Oktavia, Tanty. "Model Konseptual Sistem Informasi sebagai Penunjang Operasional Perusahaan Dagang." ComTech: Computer, Mathematics and Engineering Applications 4, no. 1 (June 30, 2013): 355. http://dx.doi.org/10.21512/comtech.v4i1.2747.

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Many ways are taken to be superior in the existing competition, such as differentiation products, identifing new marketing strategies, and improving the performance of operational activities in order to obtain positive responses from the customer. The role of the customer in the implementation of a trading company holds an important position because of all the activities carried out focus on how companies can build satisfaction for the customer, so that in the future they will be back to the company'. This research discusses the design of an information systems to support the implementation of the company's daily operation which consists of selling activities, purchasing, and stock. The method used consists of analysis and design. Analysis begins from the identification of operational processes and data used in daily trading company in general, equipped with some concepts from supporting research literature to develop a model that can be applied. Meanhile the design method through the object oriented approach are illustrated using diagrams Unified Modelling Language (UML). A conceptual model of information system that can be implemented in support of the company's trading operations, which can provide competitive advantage for the company to face competition in the industry.

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Lv, Xiao Yue, Ying Hui Jian, and Chang Xin Xu. "Calculation of B-S Model on Carbon Emission Right Transaction Price and Clean Development Mechanism Strategy of Jiangsu." Advanced Materials Research 962-965 (June 2014): 1616–20. http://dx.doi.org/10.4028/www.scientific.net/amr.962-965.1616.

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It is a tendency to develop low-carbon economy and lifting the ability of carbon trade and clean development. Through potential analysis of CDM project progress, economy foundation and resource endowment to developing the carbon trade market of Jiangsu companies, we can find that this district possesses huge space for energy conservation and emissions reduction. Meanwhile, we have introduced real option theory to the carbon trading mechanism of empirical research. By using the B-S pricing model and European carbon option trade market data, constructed a carbon option pricing model, then based on the similarity economy comparison between European Union and Jiangsu province, obtain the discounted carbon trading market price of Jiangsu area. At last, around technology, management and policies levels to putting forward some relevant suggestions and measures on CDM mechanism provided beneficial basis and references to Jiangsu companies in stepwise development of carbon trading market under CDM mechanism.

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Awan, Adil, and Syed M. Amir Shah. "The Price and Volume Effect of Single-Stock Futures Trading on the Pakistani stock market." Lahore Journal of Business 2, no. 2 (March 1, 2014): 1–32. http://dx.doi.org/10.35536/ljb.2014.v2.i2.a1.

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The advent of single-stock futures (SSFs) provides an opportunity to investigate the company-wide impact of futures trading rather than the market-wide response captured through index futures contracts. This study analyzes the price and volume effect of SSFs on the underlying spot market based on a sample of 26 Pakistani firms. The dataset used includes one-year pre- and post-event data on closing prices and trading volumes. We conduct an event study in which the abnormal returns of individual companies and average abnormal returns reveal that futures trading has very little impact on the underlying spot returns. The cumulative abnormal returns show that statistically significant positive abnormal returns are experienced after SSF trading but with negative returns in the pre-event period. We compare pre- and post-event average normalized volumes using the t-test and dummy variable regression; the trend coefficients show a general decrease in trading volume. Consequently, there is an increase in returns and decrease in trading volume post-SSF trading in the Pakistani market.

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Georgievski, Alex, Jamie Hamilton, Giulia Gervasoni, and Priscilla Tan. "Sales and marketing of LNG is evolving. Are you prepared?" APPEA Journal 56, no. 1 (2016): 283. http://dx.doi.org/10.1071/aj15022.

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Australia is in the process of transitioning from the project build phase to the project operating phase in the LNG lifecycle. By 2020, the number of operating LNG trains will grow from nine to 21, and it is expected Australia will challenge to be the world’s largest exporter of LNG. LNG sales and marketing activity is expected to increase dramatically across the Asia-Pacific region. But what does this change mean for LNG players in the Asia-Pacific region? And what needs to be done to prepare for it? There is presently very little information available on how prepared LNG companies in the Asia-Pacific region are to undergo this transition. Equally, the maturity of the risk management and trading functions of the more established companies in the sector, and how much work less-experienced companies need to do to meet global standards, has been relatively opaque. To bridge this information gap, Deloitte conducted a targeted global survey of LNG participants, particularly focusing on their energy trading risk management (ETRM) maturity. Deloitte also sought the industry’s views on the changing market, and challenges and opportunities for the future. The results show the following: There is a significant divide between established global integrated multi-energy commodity companies and regional Asia-Pacific LNG companies in terms of their ETRM maturity. Organisations with existing marketing and trading functions covering commodities with more mature markets have been able to leverage past lessons and existing ETRM capability across their portfolios. For other companies without this experience in mature markets, the evolving developments and liquidity of global LNG markets presents both significant threat and opportunity. The transition in LNG markets, and the increase in sales and marketing activity, will place high demands on existing and new operations—and their owners—to establish and mature their marketing and trading functions. An ETRM framework is a crucial part of meeting these demands. In this paper the authors examine the background to this transition, what the essential components of an ETRM are, and how far away Asia-Pacific LNG players are from being prepared for transition and achieving maturity in this area.

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de Beer, Johan. "Changes in the volatility level and structure of shares post single stock futures trading." Corporate Ownership and Control 7, no. 2 (2009): 279–95. http://dx.doi.org/10.22495/cocv7i2c2p5.

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The introduction of single stock futures to a market presents the opportunity to assess an individual company’s response to futures trading directly, in contrast to the market-wide impact obtained from index futures studies. The listed shares of thirty-eight South African companies were evaluated in terms of a possible volatility effect due to the initial trading of their respective single stock futures contacts. A GARCH(1,1) model established a volatility structure (pattern of behaviour) per company. Results, in general, showed a reduction in the level and changes in the structure of spot market volatility post single stock futures.

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HUO Xiaojiang, CHENG Hao, Zhang Fan, LIU Zhongjing, and LUO Yunfeng. "Risk Management and Decision of Electricity and Derivatives Trading for Power Companies." INTERNATIONAL JOURNAL ON Advances in Information Sciences and Service Sciences 5, no. 2 (January 31, 2013): 247–54. http://dx.doi.org/10.4156/aiss.vol5.issue2.31.

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MacNeil, Iain, and Alex Lau. "International Corporate Regulation: Listing Rules and Overseas Companies." International and Comparative Law Quarterly 50, no. 4 (October 2001): 787–810. http://dx.doi.org/10.1093/iclq/50.4.787.

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Listing rules have always played a significant role in corporate regulation by controlling the manner in which companies raise capital through the issue of securities and the subsequent trading of those securities between investors. The regulatory role of listing rules can be characterised as the top-tier in a system of regulation for listed companies in which the lower tiers are represented by securities law and general corporate law. Company law represents the bottom tier of regulation as it applies to all companies, albeit with some distinctions made between public and private companies. While company law does contain a substantial body of rules which are subject to change by share-holders (‘default rules’), it also contains a core of mandatory rules (not subject to change by shareholders) which are regulatory in their nature.

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GRÉGOIRE, PHILIPPE. "INSIDER TRADING AND VOLUNTARY DISCLOSURE." International Journal of Theoretical and Applied Finance 11, no. 02 (March 2008): 143–62. http://dx.doi.org/10.1142/s0219024908004750.

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We set up a model to study the voluntary disclosure of information by insiders of publicly traded companies. We consider a trading framework as in [14] with many assets and one insider per asset. There is one discretionary liquidity trader who can allocate his trades across the different assets and many noise traders who trade with equal intensity in all assets. Before trade begins, insiders can disclose information in order to attract the discretionary liquidity trades. We show that if the level of noise trading is above a certain threshold, then there is an equilibrium where all insiders do not disclose any information. Below this threshold, equilibria are such that some information is always revealed by insiders. We also find that the greater the number of assets, the smaller the intensity of noise trading must be in order to induce insiders to disclose some information, and we find that insiders reveal all their information when the intensity of noise trading approaches zero.

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Mohanty, Pitabas, and Supriti Mishra. "Profit Opportunities from Vedanta and Cairn India Merger." Asian Case Research Journal 23, no. 01 (June 2019): 65–89. http://dx.doi.org/10.1142/s0218927519500032.

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On June 14, 2015, Vedanta Resources PLC of the UK announced the merger of two of its Indian subsidiaries, namely, Vedanta Limited and Cairn India Limited. Per the terms of the merger, Vedanta Limited would issue one share of itself for every share of Cairn India. In addition, it would also issue a preference share of INR 10 in face value. The stock prices of the two companies, however, soon started trading outside the range suggested by the above exchange ratio. This gave rise to different possible trading strategies for the investors with different possible outcomes. The case is written around mid-September 2015, when the share prices of both companies declined and the shareholders were yet to receive any formal communication from the management.

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Heggen, Campbell, and Gerard Gannon. "Information leakage and informed trading around unscheduled earnings announcements." Corporate Ownership and Control 6, no. 2 (2008): 143–63. http://dx.doi.org/10.22495/cocv6i2p12.

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While there has been much judicial discussion regarding the competency of Australia’s continuous disclosure regime with reference to contemporaneous international standards, there has to date been limited empirical analysis of the Australian system’s effectiveness in preventing selective disclosure and information leakage. This paper presents an empirical study of information content and trading behavior around unscheduled earnings announcements – comprising of profit upgrades, profit warnings and neutral trading statements – made by ASX-listed companies during 2004. The contention is that informed trading impacts on the stock returns and trading volumes of listed entities, and hence abnormal returns or trading volumes observed prior to an announcement provide evidence of information leakage. The paper models a range of factors that potentially influence firm disclosure practices and contribute to the level information asymmetry in the market during the pre-announcement period. Previous research has investigated the influence of firm size and information content in contributing to information leakage. This study further considers the variables of firm growth, capital structure and industry group

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Tvrdoň, O., and K. Krčová. "The reasons for creation of agricultural sales organizations." Agricultural Economics (Zemědělská ekonomika) 48, No, 7 (March 1, 2012): 285–92. http://dx.doi.org/10.17221/5322-agricecon.

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Due to the transformation of the agricultural subjects realized after 1990, the new ownership relations occurred in the sectors of agriculture and food processing. The entrepreneurs started to build their activities on the base of market economy principles. The farmers started founding of specialized or universal-trading organizations aimed to sale of the agricultural production. The legal forms of the companies were cooperatives or companies incorporated. In practice, the subjects proved the reasonability of their existence not only on the side of agricultural production sale, but also on the side of purchasing inputs necessary for the agricultural production process. One of the best trading organizations is Agropork-družstvo in Brno, which is specialized in purchasing and sale of pigs, cows and recently poultry as well.

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Patashkova, Yelena, Shakizada Niyazbekova, Seyit Kerimkhulle, Madina Serikova, and Marija Troyanskaya. "Dynamics of Bitcoin trading on the Binance cryptocurrency exchange." Economic Annals-ХХI 187, no. 1-2 (February 28, 2021): 177–88. http://dx.doi.org/10.21003/ea.v187-17.

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Currently, there are a great number of platform-projects and frameworks based on blockchain technology. Consequently, it is necessary to define the most relevant blockchain platforms and analyze them taking into consideration a variety of features. Also, there is a need to investigate the logistics growth and the price of Bitcoin on the Binance cryptocurrency exchange. The authors have examined modern technologies used by manufacturing companies in the field of fintech in the context of the 2019-2024 period. The results show that sensors and automatic identification take the leading position both at present and in 2024. Aartificial intelligence and blockchain are also in demand by manufacturers today, however in the nearest future their ranking positions will increase sixfold from 10% to 60%. In the current paper the authors review the largest companies that effectively use blockchain technology in their businesses. The conducted survey shows that 18% of companies use blockchain technology based on Bitcoin. The authors have analysed a number of Bitcoin transactions for the period from January 2017 to February 2021 and concluded that the COVID-19 pandemic has had a favourable effect on the indicator data. A maximum number of transactions equal to 10.15 million was carried out in July 2020. Using the method of the Ordinary Least Squares (OLS) and statistical estimation methods the authors have revealed an underestimation of the equilibrium state of the empirical distribution of price data and the volume of daily trading of Bitcoin on the Binance cryptocurrency exchange through the channel of the right-hand confidence interval. The blockchain technology based on Bitcoin has positively reacted to the macroeconomic factors such as the COVID-19 pandemics and further growth in Bitcoin transactions is expected. With the help of economic modelling, the authors have defined the predictable volume and the price of Bitcoin on the Binance cryptocurrency exchange.

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Păuna, Cristian. "Reliable Signals Based on Fisher Transform for Algorithmic Trading." Timisoara Journal of Economics and Business 11, no. 1 (June 1, 2018): 87–102. http://dx.doi.org/10.2478/tjeb-2018-0006.

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Abstract Trading and investment on financial markets are common activities today. A very high number of investors, companies, public or private funds are buying and selling every day with a single purpose: the profit. The common questions for any market participant are: when to buy, when to sell and when is better to stay away from the market risk. In order to answer all these questions, many trading strategies are used to establish the best moments to entry or to exit the trades. Due to the large price volatility, a significant part of the trades is set up automatically today by computers using algorithmic trading procedures. For this particular field, special aspects must be met in order to automate the trading process. This paper presents one of these mathematical models used in automated trading systems, a method based on the Fisher transform. A general form of this method will be presented, the functional parameters and the way to optimize them in order to reduce the risk. It will be also suggested a method to build reliable trading signals with the Fisher function in order to be automated. Three different trading signal types will be explained together with the significance of the functional parameters in the price field. A code sample will be included in this paper to prove the simplicity of this method. Real results obtained with the Fisher trading signals will be also presented, compared and analyzed in order to show how this method can be implemented in algorithmic trading.

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Kryzanowski, Lawrence, and Nancy D. Ursel. "Market Reaction to the Formation of Export Trading Companies by American Banks." Journal of International Business Studies 24, no. 2 (June 1993): 373–81. http://dx.doi.org/10.1057/palgrave.jibs.8490237.

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TAMARA, TEPLOVA, QAISER MUNIR, and KAPICHNIKOVA MARIA. "THE EX-DIVIDEND-DAY BEHAVIOR OF STOCK PRICES AND VOLUME: THE CASE OF PHARMACEUTICAL DIVIDEND ARISTOCRATS." Singapore Economic Review 65, no. 04 (May 31, 2019): 889–915. http://dx.doi.org/10.1142/s0217590819500243.

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This paper presents the wide analysis of the profitability factors of dividend capture strategy on public pharmaceutical companies within a five-year period after the global financial crisis 2008. We investigate the abnormal return and trading volumes with event study, and the effect of price changes around the ex-dividend date under the influence of various factors. Our findings suggest that there are no abnormal trading volumes on both the [Formula: see text] day of the event window and the day of the event on a subsample of companies that do not declare a dividend before the register close date. We confirm the negative stock yield on the ex-dividend day in most markets. We further confirm the tax hypothesis explaining the behavior of the share price and note the specific behavior of stock prices in the ex-dividend date for companies that do not disclose information on future payments (Japan and South Korea) and on emerging markets. The positive average cumulative abnormal return is statistically significant only for companies with a share of R&D/Total revenue [Formula: see text]3%. For companies with a value of more than 3%, the return is negative. An anomaly in the pharmaceutical stock market behavior in the ex-dividend date for 2016 is documented in our paper. A statistically significant price increase is registered both without taking into account the general market behavior, and taking into account market and individual expected return for each share of the sample. The cumulative abnormal returns are greater for pharma companies with a total enterprise value more than $1 billion, except for 2016.

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Budiwati, SE,M.Si,Ak,CA, Christiyaningsih, and Ryan Noor Yudana. "The Effects of the Days of the Week on the Indonesian Stock Exchange." Journal of Finance and Banking Review Vol. 2 (4) Oct-Dec 2017 2, no. 4 (December 12, 2017): 22–27. http://dx.doi.org/10.35609/jfbr.2017.2.4(3).

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Objective - The study aims to identify the difference of returns that occur on every trading day, to identify the occurrence of the phenomenon of the Day of the Week Effect; to identify the occurrence of Monday Effect on stock trading in the Indonesian Stock Exchange; and to identify the occurrence of Weekend Effect on the Indonesian Stock Exchange. Methodology/Technique - This study examines companies listed in the LQ 45 Index between January 2016 and December 2016. The results are tested using a comparative method. The sample used consists of 41 companies. The hypothesis was testing using a one-way ANOVA and independent sample t-test. Findings - The results show that there is a difference of stock return occuring on every trading, day indicating the occurrence of the day of the week effect phenomenon. Further, there was no Monday Effect phenomenon observed during the study period and there was no Weekend Effect Phenomenon observed during the study period. Novelty - Based on the results, it can be concluded that the phenomenon of the Day of the Week Effect occurred between January 2016 and December 2016, while the phenomenon of Monday Effect and Weekend Effect did not occur during the study period. Type of Paper - Empirical Keywords: Stock Return; The Day of The Week Effect; Monday Effect; Weekend Effect; LQ-45 Index. JEL Classification: G10, G12.

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Almujamed, Hesham I. "Filter rule performance in an emerging market: evidence from Qatari listed companies." International Journal of Productivity and Performance Management 68, no. 1 (January 14, 2019): 231–47. http://dx.doi.org/10.1108/ijppm-04-2018-0129.

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Purpose The purpose of this paper is to examine the predictability of nine filter rules and test the validity of the weak form of the efficient market hypothesis for the Qatar Stock Exchange (QSE). Design/methodology/approach This study adopts the filter rule strategy employed by Fifield et al. (2005), which suggests that a buy signal occurs when a share’s price increases by X percent from the previous price. This strategy recommends that the share is held until its price declines by X percent from the subsequent high price. Any price changes below X percent are ignored. Additionally, using the theory of weak-form efficiency, this paper suggests that, if a stock market is efficient, an investor cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. To this end, the daily closing share prices of 44 companies listed on QSE are explored for 2004–2017. Findings The findings propose that QSE is not weak-form efficient because security prices are predictable. As such, investors who followed filter strategies based on past price information could have made profit. Sectoral analysis findings further suggest that firms in the consumer goods and services, industrial and insurance sectors are most efficiently priced amongst the QSE-traded companies. Practical implications The evidence may be plausibly helpful as supporting market participants and academics that suggest that selecting filter strategy is extremely important for determining the overall profitability of the trading strategy. Originality/value To the best of my knowledge, this is the first study on Qatar that examines the performance of filter rules relative to a passive investor in the context of trading rules with individual share prices for a new stock market. Furthermore, this study adds to the literature through the empirical finding that technical analysts using filter strategies could generate excess returns relative to the buy-and-hold strategy on new emerging stock markets. This study also suggests the levels of transparency and accounting disclosure are limited, which may help Qatari policy makers understand the QSE context. Therefore, it might lead them to introduce regulatory changes to improve the QSE’s efficiency level.

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Bhat, Rajani Balakrishna, and Suresh V. N. "Lead Lag Relationship between Futures and Spot Prices in Select Nifty Companies." GIS Business 12, no. 5 (September 18, 2017): 30–48. http://dx.doi.org/10.26643/gis.v12i5.3343.

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The equity derivatives market in India has undergone remarkable changes in terms of instruments introduced. Introduction of single stock futures, amidst great misgivings, was solely responsible for placing Indian exchanges in the topmost position in the global scenario. Till 2006-07, single stock futures were the most traded instruments in the Indian equity derivative segment. But, post-Global Financial Crisis, there has been a continuous drift in favour of index options from single stock futures. There has been a continuous decline in the share of single stock futures, the gain being that of index options. This is considered as a clear indication towards mature stock market. Even though the inception of derivative trading has significantly influenced the trading volatility in the capital market segment, it is yet to be seen whether the introduction of derivatives has achieved its purpose or not. The present study is an attempt to study the impact of volatility on the stock market after the introduction of derivatives in Indian segment. The study takes into account a period of thirteen years, from 9th November 2001 to 31st March 2014. A bunch of Nifty companies which satisfy the set criteria are selected for the study. The study reveals that there exists causality between the futures and spot prices of these companies. These companies are found to be co-integrated in the long run as well as in the short run.

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Gill, Suveera. "Upward Switches on BSE: An Explanation for Anomalous Stock Price Behaviour." Vikalpa: The Journal for Decision Makers 37, no. 4 (October 2012): 11–28. http://dx.doi.org/10.1177/0256090920120402.

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Stock exchanges in developed markets provide multiple equities platform for a sophisticated equity trading worldwide. The trading system on stock exchanges in developing countries, however, is typically two-tiered so as to segregate trading interest on a wider spectrum of investor�s interest. The stock exchange authorities with such trading structures monitor the financial health of their listed companies and take a switch decision by moving a company from a low- or high-class segment to a high-or low-class segment based on certain factors. This paper attempts to discern the general pattern of market behaviour of 38 common stocks around up-switches from Group ‘B’ to Group ‘A’ on the Bombay Stock Exchange during 2008–2010. In addition, an attempt was made to examine the effect of preswitching trading volume on the pattern of returns around up-switching. Standard event methodology using the market-adjusted model was used to examine the market behaviour around the two event dates, i.e., announcement and actual switching. The same estimation period of -210 to -51 days was used for both event dates. Three tests, namely, a sign test, a matched-pairs t-test, and a Wilcoxon matched-pairs signed-ranks test were used to examine differences in volume and risk before and after switching. Finally, other contemporaneous announcements which might have had an effect on the results for low and high sub-sample companies were also checked. The results confirm that subtle differences exist in market behaviour around up-switches. The market responds weakly but positively to the announcement of an up-switch. However, in the days around the actual up-switch, the companies earn negative abnormal returns though not significant. Further, over the total test period, the cumulative abnormal results of the low volume group are significantly lower than those of the high volume group at the five per cent level over days -10 to +10. Thus, the results show that around the up-switch, the market response is more favourable to stocks with high volume than their low volume counterparts. A further examination of trading volume, beta, as well as other corporate announcements helped in discerning the underlying cumulative abnormal return patterns. The present paper distinguishes itself from the previous studies on the subject as it goes beyond documenting the abnormal returns around up-switches by presenting probable explanations for their existence. It provides researchers and others valuable understanding regarding the market segment change anomalies and the role of other pre-switching attributes in explaining market behaviour around switching.

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Solongo, Ganbold. "Financial Resources Management for SME`S of Mongolia." International Business Research 10, no. 6 (May 18, 2017): 145. http://dx.doi.org/10.5539/ibr.v10n6p145.

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This paper Financial resources management analyzes the sources of financing for the medium enterprises in Mongolia by comparing between limited liability companies and public listed companies who are actively working in trading, manufacturing and service providing companies external and internal sources of finances. The paper gives an overview of the related theories of financial sources and capital structuring and aimed to approve based on the empirical studies on the selected three different industries 14 companies (based on the empirical studies done on 14 companies within three different industries). This paper also defined an optimal capital structure for the selected industries and each company based on the scenario analysis and assumptions. This paper investigates the sources of financing for the medium enterprises in Mongolia in different ownership structures by a capital structure theories and their impact on corporate financial performances. There are several theories regarding the process of business financing in general, companies can obtain sources of finances from short term sources, debt finance, venture capital, equity finance and internal sources.

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Zhao, Yibing, Can Wang, Yuwei Sun, and Xianbing Liu. "Factors influencing companies' willingness to pay for carbon emissions: Emission trading schemes in China." Energy Economics 75 (September 2018): 357–67. http://dx.doi.org/10.1016/j.eneco.2018.09.001.

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Papaioannou, Anna, and P. J. Slot. "Public Energy Companies Under the EC Treaty: An Overview of Law and Policy." Leiden Journal of International Law 7, no. 1 (1994): 43–61. http://dx.doi.org/10.1017/s0922156500002818.

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This article examines state intervention in the energy sector under the EC Treaty. The analysis focuses upon Articles 37, on state trading monopolies, and 90, on public undertakings, the conferment of exclusive rights and undertakings entrusted with the operation of services of general economic interest. All these forms of business organisation are very common in the energy sector. The Commission's wish to introduce more competition in the public utilities sector is well served by the application of the Treaty rules on a case-to-case basis. Secondarily, legislation has also been adopted for the energy sector pursuant to Article 100A EC. There is considerable public debate on new proposals for directives which aim at further liberalisation in the energy market.

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Journal articles on the topic 'General trading companies'

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