Capital Market Efficiency and Its Implication for Financial Reporting MJAROCKS Capital market efficiency has been a widely debated topic since the term was introduced. The efficient market hypothesis was introduced by Eugene Fama in 1970 and is one of the most important topics that is covered in financial accounting theory. There have been many papers and studies that have backed the efficiency market hypothesis. There have also been many others that have tried to show that the markets are
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PHILIPPINE CAPITAL MARKET CAPITAL MARKET-is any domestic or international market in which governments‚banks‚multilateral organizations and companies can borrow or invest large amounts of money for medium to longterm periods. Capital market is different from the money market primarily because most money market instruments have maturities not exceeding 12months. The types of instruments issued in the local capital market are debt and equity‚hybrid. PRIMARY AND SECONDARY CAPITAL MARKETS In the PRIMARY
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FNCE 126 Money and Capital Markets Fall 2013 Instructor: Donald Davis Office: Lucas Hall – 316Z E-mail: ddavis@scu.edu Course Web Page: On the Camino System Office Hours: Tuesdays & Thursdays‚ 11:00-12:00 am‚ or by appointment after 3:45 Class Meetings: Tuesdays and Thursdays 2:00–3:40pm in Lucas 307 Course Objectives Money and Capital Markets is an overview of the broad structure of the money markets (short term) and capital markets (long term financing)‚ covering both corporate and
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[pic] [pic] • CAPITAL MARKET AND ITS TYPES • PUBLIC ISSUE • PRIVILEGED SUBSCRIPTION • REGULATION OF SECURITY OFFERINGS • PRIVATE PLACEMENT • INITIAL FINANCING • SIGNALING EFFECTS • THE SECONDARY MARKET • PRACTICAL STUDY (MARI Gas Company Ltd) o History and Background o MARI Gas Field o Regional Offices o Management
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focuses on the growth of Bangladesh stock market over time. The market trends in terms of market capitalization‚ market liquidity‚ market concentration‚ number of listings‚ volatility in the market index and foreign portfolio investment were considered. The study finds that key indicators are significantly correlated. Stock market growth index is constructed considering market capitalization ratio; turn over ratio‚ value traded to GDP ratio and volatility in market index. The findings of the study suggest
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Reforms of Capital Market The 1991-92 securities scam prompted the governments to increase the pace of reforms in the capital market. Several reform measures have been undertaken since then in both the primary and secondary segments of the equity market. Primary Capital Market 1) The Securities and Exchange Board of India was set up in early 1988 as a non-statutory body under an administrative arrangement. It was given statutory powers in January 1992 through the enactment of the SEBI Act‚ 1992
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Valuation of Stocks and Functioning of Indian Stock Market The work in this area can be classified into three broad strands: a) those dealing with functioning of securities markets and financial institutions operating in these markets‚ b) those pertaining to the investment decision making process of individuals‚ and c) empirical work on Indian stock markets. One of the early works on functioning of stock markets and financial institutions was by Simha‚ Hemalata and Balakrishnan (1979). Bhole (1982)
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- All firms are price takers - All firms have a relatively small market share - Buyers know the nature of the product being sold and the prices charged by each firm. - The industry is characterised by freedom of entry and exit. Perfect competition is a theoretical market structure. It is primarily used as a benchmark against which other market structures are compared. The industry that best reflects perfect competition in real life is the
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Capital market Of Bangladesh: Capital market is a market for securities (debt or equity)‚ where business enterprises (companies) and governments can raise long-term funds. The capital market includes the stock market (equity securities) and the bond market (debt). Bangladesh capital market is one of the smallest in Asia but the third largest in the south Asia region. It has two full-fledged automated stock exchanges namely - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). It also
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term debt and equity capital via the global capital markets as opposed to the more traditional methods employed by the company of raising funds through the domestic markets. 2. Global Capital Revenue v Domestic Raising capital in the global market place has a number of advantages over raising capital solely in the domestic market place. The first advantage is that by going global it will open the company up a larger market and will provide far more opportunities to raise capital as opposed to only
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