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Shanghai stock prices as determined by the present-value model

Article Abstract:

Stock prices in Shanghai were evaluated through a model derived from the present-value model of stock prices. The model, which involved 47 stocks on the Shanghai Stock Exchange from 1996 to 1998, revealed that the log stock price serves as a linear function of projected log dividends and rate of growth of dividends of adaptive expectations. The model is seen to be viable for developing countries that are just beginning to trade stocks and where the economic institutions are very different.

Misc Stock Exchanges, China, Evaluation, Prices and rates, Stocks, Stock-exchange, Stock exchanges, Stock prices, Commodities

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Historical pre and post special closing effects

Article Abstract:

The return behavior in an organization is greatly affected by the type and timing of special closing. Returns registered after Non-institutional special closing are 17.89 times lower than the usual return rate. On the other hand, returns recorded prior to Non-institutional and Institutional special closings are 11.04 and 30.96 times higher than the usual return rate.

Securities Exchanges, Analysis, Exchanges, Institutional investments, Return on investment, Rate of return

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The effect of diversification on firm value: A pre- and post-divefsification analysis

Article Abstract:

Diversification causes a decrease in value in the short term, but has no effect in the long term.

United States, Economic aspects, Diversification in industry, Industrial diversification

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