Stock market reaction to German reunification

Article Abstract:

An asset pricing model is used to examine the time varying response of the stock market to news of the German reunification. Results showed that optimistic and pessimistic news about the German reunification impacted on the time varying volatility of the returns of the DAX, the Germany Fund and the Financial Times World Stock Index. The effect of the news on the World Stock Index also indicates that country-specific risk is valued in the global portfolio as well as demonstrates the importance of Germany in the international political and financial landscape.

Economic aspects, German reunification question (1949-1990)

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Stock price reaction to daily limit moves: evidence from the Taiwan Stock Exchange

Article Abstract:

Investment activities of Taiwan Stock Exchange's listed companies are examined to test stock price's overreaction hypothesis, which claims that its pricing behavior follows daily limit moves. The research indicated that there are significant price reversals that are in accord with the limit moves for both up-limit and the down limit case. However, this movement is not attributed to the size effect as price reversals remained significant even if the size effect was adjusted.

Analysis, Stocks, Financial markets, Taiwan Stock Exchange

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Short-term abnormal returns of the contrarian strategy in the Japanese stock market

Article Abstract:

Short-term abnormal returns to contrarian investment techniques are examined as they are applied to stocks listed on the Tokyo Stock Exchange. The effects of firm size and return seasonality within this context are also examined. The results show that short-run contrarian strategies are effective even when firm size and systematic risk are considered and that the seasonality effect cannot account for the profitability of contrarian strategies.

Japan, Investments, Securities, Tokyo Stock Exchange

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