Topic
Stock (geology)
About: Stock (geology) is a research topic. Over the lifetime, 31009 publications have been published within this topic receiving 783542 citations.
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TL;DR: This paper examined the impact of inflation and economic growth expectations and perceived stock market uncertainty on the time-varying correlation between stock and bond returns and found that the stock-bond return correlation is virtually unaffected by economic growth expectation.
Abstract: This article examines the impact of inflation and economic growth expectations and perceived stock market uncertainty on the time-varying correlation between stock and bond returns. The results indicate that stock and bond prices move in the same direction during periods of high inflation expectations, while epochs of negative stock–bond return correlation seem to coincide with subdued inflation expectations. Furthermore, consistent with the ‘flight-to-quality’ phenomenon, the results suggest that periods of elevated stock market uncertainty lead to a decoupling between stock and bond prices. Finally, it is found that the stock–bond return correlation is virtually unaffected by economic growth expectations.
184 citations
TL;DR: In this article, the authors investigated the dynamic dependence between crude oil prices and stock markets in ten countries across the Asia-Pacific region during the period from January 4, 2000 to March 30, 2012 by using unconditional and conditional copula models.
184 citations
TL;DR: This article used data from the Survey of Consumer Finances (SOCF) to assess how well mean-variance efficiency describes the portfolio diversification of US households, finding that the median stockholder owns a single publicly traded stock, often in the company where he works.
Abstract: This paper uses data from the Survey of Consumer Finances to assess how well mean-variance efficiency describes the portfolio diversification of US households. It does not seem to work well. The median stockholder owns a single publicly traded stock, often in the company where he works. Looking at a sample of high income households who accounted for one third of all publicly traded stock, the median holding is only ten stocks. Indirect stock ownership through mutual funds, defined contribution pension plans, IRA's and trust funds is shown to have little power in explaining this poor diversification.
184 citations
TL;DR: In this paper, the authors test for stochastic long memory in the Greek stock market, an emerging capital market, and find significant and robust evidence of positive long-term persistence.
Abstract: We test for stochastic long memory in the Greek stock market, an emerging capital market. The fractional differencing parameter is estimated using the spectral regression method. Contrary to findings for major capital markets, significant and robust evidence of positive long-term persistence is found in the Greek stock market. As compared to benchmark linear models, the estimated fractional models provide improved out-of-sample forecasting accuracy for the Greek stock returns series over longer forecasting horizons.
183 citations
TL;DR: In this paper, the authors studied the effect of stock options on managers' risk-taking by analyzing how equity-based incentives affect firms' responses to an unanticipated and exogenous increase in risk.
183 citations