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.

Testing the Strong-form of Market Discipline: The Effects of Public Market Signals on Bank Risk

Abstract: Under the strong-form of market discipline, publicly traded banks that have constantly available public market signals from their stock (and bond) prices would take less risk than non-publicly traded banks because counterparties, borrowers, and regulators could react to adverse public market signals against publicly traded banks. In comparing the credit risk, earnings risk, capitalization, and failure risk between publicly traded and non-publicly traded banks, the evidence in this paper rejects the strong-form of market discipline. In fact, the findings indicate that banking organizations tend to take more risk when they were publicly traded than when they were privately owned.

Privatization as a means to societal transformation : an empirical analysis of privatization in Central and Eastern Europe and the Former Soviet Union

Abstract: There have been numerous empirical studies of privatization programs, which have found efficiency gains to firms, industries, and financial markets in a multitude of developed and developing economies. Central and Eastern Europe and the Former Soviet Union are conspicuously and consistently absent from these studies. Some reasons for this include the lack of reliable and consistent firm data both before and after privatization, the absence of vital business mechanisms and institutions to distribute reliable business information, and misconceptions about what privatization actually is. Given these problems, Stiglitz (1998) offers an interesting solution for measuring the "success" privatization in CEE and FSU. Stiglitz (1998) provides six factors to be considered when assessing the impact of any type of economic reform: economic growth, health, education, infrastructure, knowledge, and capacity-building. Through correlation analysis, financial, economic and social variables representing these six dimensions are reduced to fourteen key variables that describe privatization/economic reform success. A series of mean analyses are performed, taking into consideration privatization program characteristics and control variables to account for other economic reforms that have occurred simultaneously with privatization. General findings suggest that overall there is positive economic, financial, and social growth after privatization. However, it is difficult to discern the effects of privatization, from the effects of other economic reforms. In addition, countries that have manager/employee privatization do not have sale privatization as part of their programs experience negative growth in market capitalization, value of stocks traded, and official development assistanc

Self-attribution, Overconfidence and Dynamic Market Volatility in Indian Stock Market:

Abstract: The article provides an empirical evaluation of self-attribution, overconfidence bias and dynamic market volatility at Bombay Stock Exchange (BSE) across various market capitalizations. First, the ...

Price performance of newly listed shares on the Johannesburg Stock Exchange

Abstract: Extracted from text ... Number 47 - Part 2 R Lawson and M Ward Price performance of newly listed shares on the Johannesburg Stock Exchange 1. Introduction The Johannesburg Stock Exchange (JSE) plays the single most significant role in capital allocation in South Africa and, with a market capitalisation of US$275 billion in March 1997, the JSE was the twelfth largest stock-market in the world. Equity capital raised through new listings, rights issues and scrip dividends during 1995 alone was almost R20 billion, indicating that research into the efficiency of the market in pricing new listings is important. The following objectives for this study ..