Newcastle University Business School MA International Financial Analysis 2010/11 NBS8002 Techniques For Data Analysis ------------------------------------------------- SAIC Stock Prices and Its Participation in GM’s IPO (Keywords: Event Study‚ Daily Stock Return‚ the OLS Market Model‚ SAIC‚ IPO) Tutors Name: A.D Miller Student Name: Chen Kai
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Returns 1 RETURNS Prices and returns Let Pt be the price of an asset at time t. Assuming no dividends the net return is Pt Pt − Pt−1 −1= Rt = Pt−1 Pt−1 The simple gross return is Pt = 1 + Rt Pt−1 Returns 2 Example: If Pt−1 = 2 and Pt = 2.1 then 2.1 Pt 1 + Rt = = = 1.05 and Rt = 0.05 Pt−1 2 Returns 3 The gross return over k periods (t − k to t) is 1 + Rt (k) := Pt−1 Pt−k+1 Pt Pt ··· = Pt−k Pt−1 Pt−2 Pt−k = (1 + Rt ) · · · (1 + Rt−k+1 ) Returns are • scale-free‚ meaning that they do not depend
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Executive summary Market efficiency tests include weak‚ semi-strong and strong three forms. They assume that financial markets are "informationally efficient"‚ or that prices of trading assets‚ already reflect all known information and therefore are unbiased in the sense that they reflect the collective beliefs of all investors about future prospects. The weak form test is based on the past information and public available information for semi-strong while strong form covers not only the public
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Bodie Thoene once said‚ “What is right is often forgotten by what is convenient.” This quote means that most people forget the right way and just way to do things because of the easier and more convenient way. I agree with this quote because I have done it before many times‚ and have witnessed it many times. As an example‚ I once did something that was not kind‚ and when given the opportunity to be honest‚ I instead lied and covered up my wrong doing. I could have admitted my fault‚ but it was a
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PROJECT ASSIGNMENT VLSI IC NUMBER DISPLAY NAME : AHMAD ZUL HANNAN BIN ZAKARIA IC NO : 900601-01-5747 MATRIC NO : AE090010 (INDIVIDUAL ASSIGNMENT) IC NO. = 900601-01-5747 9 => 0 => A => 6 => B => 1 => C => D => 5 => 7 => 4 => E
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Biopsychosocial Analysis of Maria Andrade Maricruz Martinez Introductory to Gerontology Professor Haldeman‚ PhD April 13‚ 2013 Maria Andrade is 79 years old. She came to America as a Cuban refugee at the age of 20. She was raised by her grandparents in Cuba. She began working at the age of 14. When she arrived in Miami‚ she was able to obtain part time employment and immediately enrolled herself in ESL classes. Thereafter she attended community college for about two years. She then moved
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a process that involves assigning tasks to others (delegation)‚ granting these individuals the right to accomplish them (authority) and holding them accountable for accomplishing the tasks (responsibility)’. Dunham and Pierce (cited in Bell & Bodie 2012‚ p. 94) further defined delegation as ‘the process managers use to transfer formal authority from one position to another within an organisation and‚ thus‚ to put the authority system they have designed into place’‚ while authority is often considered
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C. (2005): “Capital Investment & Financing: A Practical Guide to Financial Evaluation”‚ Elsevier Butterworth-Heinemann Bélyácz I. (2001): “Befektetés-elmélet” (“Investment theory”)‚ University of Pécs‚ Faculty of Business and Economics Bodie‚ Z. − Kane‚ A. − Marcus‚ A. J. (2004): “Essentials of Investments”‚ McGraw Hill Irwin Copeland‚ T. − Murrin‚ J. − Koller‚ T. (2000): “Valuation: Measuring and Managing the Value of Companies”‚ 3rd Edition‚ New York: Wiley Damodaran‚ A. (1994): “Damodaran on Valuation”
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Ross developed his theory‚ built only on arbitrage arguments. In order to understand the APT‚ we have to know what is the arbitrage. Arbitrage – the exploitation of security mispricing in such a way that risk-free economic profits may be earned. (Bodie‚ 1999) The theory is based on one of the main statement – the arbitrage on the equilibrium market is impossible (the market "quickly eliminate" this opportunity). The arbitrage pricing theory is based on a significantly smaller number of assumptions
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1 BUS311 Investment Analysis Unit Information and Learning Guide Trimester 1‚ 2013 This information should be read in conjunction with the online learning materials which can be found on your MyUnits page. Unit coordinator Name: Muammer Wali School: School of Management and Governance Contact details: M.Wali@murdoch.edu.au [pic] © Published by Murdoch University‚ Perth‚ Western Australia‚ April 2013. This
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