Topic
Market capitalization
About: Market capitalization is a research topic. Over the lifetime, 3583 publications have been published within this topic receiving 77288 citations. The topic is also known as: market cap & market value.
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TL;DR: In this article, an empirical study of the capitalization rates for 132 office building sales in downtown Chicago from 1996 to 2007 was carried out, and the results showed that the average capitalization rate for office buildings incorporates a very low value for "beta", which is associated with a smaller risk-free rate, a lower borrowing rate, class A buildings, newer buildings, buildings that had been renovated, and an increase in employment in the financial sector of the metropolitan area.
Abstract: This paper is an empirical study of the capitalization rates for 132 office building sales in downtown Chicago from 1996 to 2007. The capitalization rate is hypothesized to be a function of the classic capital asset pricing model variable and variables intended to capture the expectation that the real market value of the building will change. The results show that the capitalization rate for office buildings incorporates a very low value for “beta.” A lower capitalization rate was associated with a smaller risk-free rate, a lower borrowing rate, class A buildings, newer buildings, buildings that had been renovated, a reduction in the vacancy rate in the downtown Chicago office market, and an increase in employment in the financial sector of the metropolitan area.
19 citations
TL;DR: In this article, the authors show that the value premium is likely to be due to mispricing and that arbitraging it entails substantive costs, and that stocks held by institutional investors do not exhibit any significant value premium nor value effect while representing 93% of the market capitalization.
Abstract: Consistent with mispricing explanations proposed in the literature to explain the value premium, the value premium is driven by stocks held by individual investors. Stocks held by institutional investors do not exhibit any significant value premium nor value effect while representing 93% of the market capitalization. In contrast, in stocks most held by individual investors the value premium, even value-weighted, reaches a staggering 2% per month. This shows that the value premium is likely to be due to mispricing and that arbitraging it entails substantive costs.
19 citations
TL;DR: In this article, the authors employ three additional measures of financial development, namely equity market, money supply and market capitalization, and further investigate cross-country evidence on the impact of equity market and money supply spillovers on economic growth in BRICS economies.
19 citations
Patent•
13 Oct 2006
TL;DR: In this article, an interactive user interface for displaying information about a plurality of publicly traded securities (e.g., stocks) at one time is disclosed, which includes a two-dimensional chart comprising an x-axis and a y-axis.
Abstract: An interactive user interface for displaying information about a plurality of publicly traded securities (e.g., stocks) at one time is disclosed. According to various embodiments, the interface may comprise (i) a two-dimensional chart comprising an x-axis and a y-axis, (ii) a first field for specifying a first metric related to the publicly traded securities for the x-axis, and (iii) a second field for specifying a second metric related to the publicly traded securities for the y-axis. An icon (e.g., a circle or a bubble) may be positioned on the chart at the x and y coordinates for each of the publicly traded companies based on the selected x-axis and y-axis metrics. In addition, the size of the icons may be representative of a third metric related to the publicly traded securities such as, for example, the market capitalization of the companies that issued the securities. Also, an interior feature of the icons (e.g., the color or hatching) may be representative of a fourth metric related to the publicly traded securities, such as the rating for the securities.
19 citations
TL;DR: In this paper, the relationship between financial deepening and stock market returns and volatility in the Nigerian stock market was examined, and four modeled equations were estimated and analyzed, which indicated that financial deepening reduces the level of risk (volatility) in the stock market.
Abstract: The paper examines the relationship between financial deepening and stock market returns and volatility in the Nigerian stock market. Estimation depending on the measures of financial deepening and market returns were evaluated using GARCH (1, 1) model. Four modeled equations were estimated and analysed. Financial deepening is represented by two variables, the ratio of the value of stock traded to GDP (FD1t) and the ratio of market capitalization to GDP (FD2t). Empirical results revealed that financial deepening (FD1t) measured as the ratio of value of stock traded to GDP do not affect the stock market and there is no news about volatility. But financial deepening (FD2t) measured as the ratio of market capitalization to GDP affect the stock market. It indicated that financial deepening reduces the level of risk (volatility) in the stock market. Result also recorded that the conditional volatility of returns is slightly persistent. Policy implications emanating from the study is that efforts should be made to improve financial development in the country by increasing the range of financial assets. Deepening finance intermediation may promote economic growth by mobilizing more investments, and lifting returns to financial resources, which raises productivity. Increased investors. confidence and less risk perception by them, will invariably further boost the market and ginger growth.
19 citations