Inclusion of stocks in the index
Journal Title: Acta Economica - Year 2013, Vol 11, Issue 18
Abstract
Index inclusion is one of a technical anomaly in the focus of behavioral finance which cannot be explained from the viewpoint of traditional finance. Starting from globalization of world financial markets and the fact that Croatian capital market is well integrated within developed European capital markets we are investigate existence of significant changes in prices of stock after theirs inclusion in index Crobex . As result of performing researches we find significant change in stock price caused by theirs including in stock market index without significant change in theirs trading volumes in situation where are no index funds specialized for investing in Crobex and where inclusion is transparent and autonomous from discreet decisions.
Authors and Affiliations
Натко Благојевић, Силвије Орсаг
Keywords
Related Articles
- EP ID EP43755
- DOI https://doi.org/10.7251/ACE1318051B
- Views 308
- Downloads 0
Macroeconomic (in)stability of Bosnia and Herzegovina – crisis: opportunities or limitations
The answer to the question of whether global processes manifested in the form of financial crisis, are opportunities or limitations for the development of the national economy requires two basic assumptions: – Knowledge...
EVALUATION OF LOAN – MODELS OF EQUAL PRINCIPALS REPAYMENTS WHICH ARE PAID m TIMES IN YEAR
This paper presents the account of loan evaluation, i.e. loan value assessment during amortization with equal principals repayments which are paid m times in year. Given the loan evaluation moment, there could emerge two...
CAPM MODEL – APLICATION IN CAPITAL MARKET OF REPUBLIC OF SRPSKA
The CAPM model was introduced by Jack Treynor, William Sharpe, John Lintner and Jan Mossin independently, building on the earlier work of Harry Markowitz on diversification and modern portfolio theory. The Capital Asset...
MANIFESTATIONS AND EFFECTS OF COMPETITIVE DEVALUATION IN CONDITIONS OF CRISIS
Depletion of the positive effects of fiscal policy and monetary policy in the area of referent interest rate reduction, exchange rate policy has become an instrument through which a country could find a chance to faster...
The Detection and Prevention of Financial Frauds in Order to Strengthen the Financial Performance of Companies in Republic of Srpska
The global trends, economic and fnancial crisis, as well as numerous corporate and banking scandals and downs caused by fnancial frauds require review and active advancement of former theoretical postulates and professio...