American Markets Research Articles

Privacy, confidentiality and ethical concerns in audio ai assistants: A comparative study of North American, European, and Asian Markets

This study examines the ethical, privacy, and confidentiality issues with audio AI assistants in the markets of North America, Europe, and Asia. Understanding the ramifications of data collecting, storage, and usage is crucial as the use of technologies like Google Assistant and Amazon Alexa grows. The study highlights significant regulatory differences between the areas; North America offers a fragmented landscape, and many Asian nations are still developing their data protection legislation, while Europe leads with strong frameworks like the General Data Protection Regulation (GDPR). Key challenges identified include a lack of user awareness regarding privacy rights, extensive data collection practices, unauthorized listening, data breaches, and cultural differences influencing attitudes toward data protection. The findings reveal that these challenges impact user trust and hinder the responsible innovation of AI technologies. Recommendations for improvement include establishing global regulations to promote consistency in data protection, adopting best practices such as privacy-by-design principles, and enhancing user education initiatives. Additionally, the study identifies critical areas for future research, particularly the role of AI assistants in sensitive sectors like healthcare and education, where privacy concerns may differ significantly. Overall, this comparative analysis provides a foundational understanding of audio AI assistants' ethical landscape and underscores the importance of addressing these issues to foster a secure and trustworthy digital environment.

The price continuity, return and volatility spillover effects of regular and after-hours trading.

This study employs a bivariate EGARCH model to examine the Taiwan Futures Exchange's regular and after-hours trading, focusing on the critical aspects of spillover and expiration effects, as well as volatility clustering and asymmetry. The objective of this study is to observe the impact on the trading sessions in Taiwan by the influences of the European and American markets, focusing on the essential roles of the price discovery function and risk disclosure effectiveness of the regular hours trading. This research is imperative considering the increasing interconnectedness of global financial markets and the need for comprehensive risk assessment for investment strategies. It also examines the hedging behavior of after-hours traders, thereby aiming to contribute to pre-investment analysis by future investors. This examination is vital for understanding the dynamics of after-hours trading and its influence on market stability. Results indicate price continuity between both trading sessions, with regular trading often determining after-hours price ranges. Consequently, after-hours price changes can inform regular trading decisions. This finding highlights the importance of after-hours trading for shaping market expectations. Significant profit potential exists in after-hours trading open interest, which serves speculative and hedging purposes. While regular trading volatility influences after-hours trading, the reverse is not true. This suggests Taiwan market information poses a higher risk impact than European and American market data, emphasizing the unique position of the Taiwan market in the global financial ecosystem. After-hours trading volatility reflects the absorption of international market information and plays a crucial role in advance revelation of risks. This underscores the importance of after-hours trading in global risk management and strategy formulation.

On the Link Between the Success of K-pop Groups in the European and American Markets and the Consumer Preferences of the Fan Base

This study analyzes the K-pop craze that is spreading globally, as well as analyzes the success of K-pop that has broadened to Europe and the United States, not only in Asia. In order to do so, this paper analyzes the effective strategies needed to further develop K-pop in Europe and the United States after observing the success of the existing K-pop in Asia and China, based on actual cases, and analyze the important reasons for the success of K-pop, which are the entertainment company (systematic production by planning companies and systematic communication methods), the active use of social media, the consumers (the love and preference of the huge fan base), and the performers (perfection of singing, choreography and image). On the other hand, nowadays, as K-pop continues to broaden its market in Europe and the United States, it is possible to find the tipping point of a tendency towards homogenized music and insufficient characteristics of K-pop's strong commerciality and insufficient systematic business model, in order to overcome this phenomenon and thus to gain insights from existing success stories.

HPR153 Market Access Strategies for Advanced Therapy Drugs: A Comparative Analysis of the European and American Markets, Authorizations and Withdrawals

HPR153 Market Access Strategies for Advanced Therapy Drugs: A Comparative Analysis of the European and American Markets, Authorizations and Withdrawals

Exploring New Trends in the Global Foreign Exchange Derivatives Market Based on the European and American Financial Markets

This research delves into the changes in products and participants in the foreign exchange derivatives market in Europe and America. It uncovers the new trends in the global foreign exchange derivatives market. The European and American financial markets are significant players in foreign exchange trading and financial innovation, as they affect the world through their market fluctuations and policy changes. The study reveals that the foreign exchange derivatives market is undergoing new dynamics and environmental changes. Innovative products are emerging, and the level of transaction automation is increasing. The foreign exchange derivatives market in Europe and the United States has transformed from a simple spot foreign exchange transaction to a diverse trading system that covers major global currencies. The proportion structure of trading participants is also changing over time. In conclusion, this research provides profound insights into the global foreign exchange derivatives market. It aims to provide relevant suggestions and references for market participants and regulators based on its analysis.

A Comparative Study of Chinese and American Stock Markets in the Context of the COVID-19- A Comparative Analysis of Several Crises

In the context of COVID-19, this paper compares the stock market performance and financial policies between China and the United States, as well as the similarities and differences of SARS in 2002, the U.S. subprime mortgage crisis in 2008, the U.S.-China trade frictions in 2018 and the COVID-19 in terms of these events impact on stock markets. By reviewing literature and event studies, this paper conducts a cross-sectional comparison and a longitudinal comparison of the Chinese and U.S. stock markets respectively. The study shows that the impact of COVID-19 on China is far less than that of the U.S. China adopted a more accommodative and longer-lasting financial policy which increased the stock markets independence significantly through sudden crisis events. The findings will help scholars to understand the performance of the U.S. and Chinese stock markets under several crisis events and the changes in the Chinese stock market over time.

Investigation of Monday Effect in the American and Chinese Stock Markets

This paper investigates the presence of the Monday effect in the American and Chinese stock markets. The data uses the Russell 1000 index from the American stock market, as well as the Gem composite index from the Chinese stock market in the period 2012 to 2021. Moreover, this paper chooses the GARCH model and the ARMA-GARCH model to investigate the Monday effect in two different stock markets. As a result, there is no evidence to find the presence of the Monday effect in the two stock markets. Nonetheless, there is still the existence of the calendar effect in the two stock markets. We ensure the credibility of results by checking for the potential bias of COVID-19 pandemic, by omitting the last two years from the data and also changing the estimation method to OLS. Results remain parallel to our main empirical findings.

Statistical arbitrage in the stock markets by the means of multiple time horizons clustering

Nowadays, statistical arbitrage is one of the most attractive fields of study for researchers, and its applications are widely used also in the financial industry. In this work, we propose a new approach for statistical arbitrage based on clustering stocks according to their exposition on common risk factors. A linear multifactor model is exploited as theoretical background. The risk factors of such a model are extracted via Principal Component Analysis by looking at different time granularity. Furthermore, they are standardized to be handled by a feature selection technique, namely the Adaptive Lasso, whose aim is to find the factors that strongly drive each stock’s return. The assets are then clustered by using the information provided by the feature selection, and their exposition on each factor is deleted to obtain the statistical arbitrage. Finally, the Sequential Least SQuares Programming is used to determine the optimal weights to construct the portfolio. The proposed methodology is tested on the Italian, German, American, Japanese, Brazilian, and Indian Stock Markets. Its performances, evaluated through a Cross-Validation approach, are compared with three benchmarks to assess the robustness of our strategy.

Assuring Consumers of Authenticity, Safety, & Quality: Early American Whiskey Markets

Assuring Consumers of Authenticity, Safety, & Quality: Early American Whiskey Markets

Improving the Process of Early-Warning Detection and Identifying the Most Affected Markets: Evidence from Subprime Mortgage Crisis and COVID-19 Outbreak-Application to American Stock Markets.

Stock-market-crash predictability is of particular interest in the field of financial time-series analysis. Famous examples of major stock-market crashes are the real-estate bubble in 2008 and COVID-19 in 2020. Several studies have studied the prediction process without taking into consideration which markets might be falling into a crisis. To this end, a combination analysis is utilized in this manuscript. Firstly, the auto-regressive estimation (ARE) algorithm is successfully applied to electroencephalography (EEG) brain data for detecting diseases. The ARE algorithm is employed based on state-space modelling, which applies the expectation-maximization algorithm and Kalman filter. This manuscript introduces its application, for the first time, to stock-market data. For this purpose, a time-evolving interaction surface is constructed to observe the change in the surface topology. This enables tracking of the stock market's behavior over time and differentiates between different states. This provides a deep understanding of the underlying system behavior before, during, and after a crisis. Different patterns of the stock-market movements are recognized, providing novel information regarding detecting an early-warning sign. Secondly, a Granger-causality time-domain technique, called directed partial correlation, is employed to infer the underlying interconnectivity structure among markets. This information is crucial for investors and market players, enabling them to differentiate between those markets which will fall in a catastrophic loss, and those which will not. Consequently, they can make successful decisions towards selecting less risky portfolios, which guarantees lower losses. The results showed the effectiveness of the use of this methodology in the framework of the process of early-warning detection.

How Big Data Analytics Impacts the Retail Management on the European and American Markets?

Many studies on big data analytics focused on specialized use cases in business environments. Studies have been performed on the use of big data analytics in order to learn about consumer associations and expertise, among others. Nevertheless, there is an absence of investigation within the retail industry contemplating the big data management, looking at the adverse effect on organizational performance and customer satisfaction. Merchants investigate analytics to obtain a unified picture of their operations and customers throughout online channels or stores and make strategic choices towards the management of retail. Thereof, this analysis was carried out by focusing heavily on the European and American retail sector to demonstrate the impact of big data analytics. A quantitative study technique was used to analyze 450 individuals in the European and American retail sector. The outcomes on the analysis mentioned that among the various big data analytics used inside the European and American retail sector, the individuals majorly emphasized social networking analytics. Future scientists can do research on the forthcoming retail fashion on the European and American markets, and the way the consequences of big data evaluation evolved within the previous couple of years and contend with the unpredicted long-term recessions within the European and American retail sector.

The Month-of-the-Year Effect in the European, American, Australian and Asian Markets

This paper examines the existence of the month-of-the-year effects in four different continents, namely Europe, Asia, America, and Oceania. Nine indexes were analyzed in order to verify differences between monthly returns from January 1990 to December 2013, followed by an examination of the January effect, Halloween effect, and the October effect, testing for statistical significance using an OLS linear regression in order to verify whether those effects offer consistent opportunities for investors. Investors with globally diversified portfolios benefit from the Halloween effect, with a 1.2% average monthly excess return in winter and spring, while the pre-dotcom-bubble period had a better performance than the post-dotcom-bubble period. In the global post-dotcom-bubble period, there is statistical evidence for 1.60% and 1% lower average monthly returns in January (the January effect) and in months other than October (the October effect), respectively, contradicting the literature. The dotcom bubble seems to be responsible for the January effect differing from what might otherwise have been expected in the later period. There is no consistent and clear impact on continental incidence. The Halloween effect is revealed to be a fruitful strategy in the FTSE, DAX, Dow Jones, BOVESPA, and N225 indexes taken one-by-one. The January effect excess average return was only statistically significative for the pre-dotcom-bubble period for globally diversified portfolios. This paper contributes to a wider global and comparable view upon month-of-the-year effect.

Investment in the Latin American Telecommunications Sector: Assessing the Role of Political Institutions

AbstractPolitical economists have argued that the design of political institutions bears important consequences for the quality of public policy, especially in areas like the privatization and regulation of utilities. Our study looks at how variations in key institutional traits of executive and legislative branches (specifically presidents' legislative powers, presidents' prerogatives to designate the director of the regulatory agency, and legislative fragmentation) affect investment in Latin American telecommunications, a critical sector for economic development. Institutional factors influence how easily executives and important political (legislative) parties can alter policies related to the telecommunications sector. We find that resolute institutional designs foster investment in the sector, but only under private ownership. For state‐owned firms, decisive institutional designs have better effects on investment.Related ArticlesMontes de Oca Barrera, and Laura Beatriz. 2019. “Persistent Exclusion in Mexico: Regulatory Governance as an Imperfect Project of Political Modernization.” Politics & Policy 47 (1): 127‐151. https://doi.org/10.1111/polp.12291Moreno, Erika, and Richard C. Witmer. 2015. “Where Capacity and Incentives Meet: Presidential Decree Authority and Property Rights in Latin America.” Politics & Policy 43 (3): 315‐346. https://doi.org/10.1111/polp.12118Wise, Carol, and Cintia Quiliconi. 2007. “China's Surge in Latin American Markets: Policy Challenges and Responses.” Politics & Policy 35 (3): 410‐438. https://doi.org/10.1111/j.1747‐1346.2007.00067.x

A Jump Diffusion Analysis for American and European Equity Markets in the beginning of the Corona Pandemic

A Jump Diffusion Analysis for American and European Equity Markets in the beginning of the Corona Pandemic

Choice of Law in Latin American Arbitration: Some Empirical Evidence and Reflections on the Latin American Market for Contracts

The aim of this Article is to assess the preferences of parties to Latin American international business transactions when they choose the law governing their contracts. For that purpose, the authors have conducted an empirical analysis of data that they were able to gather from arbitral institutions active in Latin America, with a focus on years 2011 and 2012. Furthermore they offer some reflections on the results and elaborate on whether they can be explained by the territorial approach of choice of law in Latin America, the importance of the United States as a trading partner for Latin American countries and the extent to which Anglo-American lawyers are present on Latin American markets.

The Interaction between Ownership Concentration and Market Risk in European, American and Chinese Markets: the Effects of BREXIT

Today’s economy is facing various economic shocks, for instance BREXIT, that do not have any evidence from the past. Economic shocks directly affect market risks, the characteristics of which are observed by business company managers before making investment and operational decisions. Such decisions are directly affected by corporate ownership concentration and structure. The issue of ownership concentration in literature lacks approach when it is analysed in the interaction with market risk, caused by an economic shock. The contribution of this research to the discipline is the interaction between the indicators that reflect the impact of ownership concentration on corporate market risk by an economic shock (regression model was created). This model is proposed as a methodological tool to assess and analyse the scientific problem in question; it can also serve as a new and reliable instrument for business decision-makers and managers. An example of the data analysis representing European, American and Chinese markets as well as the United Kingdom as a country of origin of the economic shock under consideration is provided. The research proves that there exist statistically significant differences in the interaction between ownership concentration and corporate market risk in different markets. Also, it was found that BREXIT most significantly raised the risk in the UK market, as in the country of origin, in comparison to the risk observed in other markets. This paper contributes to the literature in corporate management decisions and systemic risk management; it also sheds light upon the economic-financial effects of the BREXIT process. Practical implication of this research is related to a focus on a detailed measurement instrument which allows to assess the systemic risk from a corporate management perspective.

Choice of Law in Latin American Arbitration: Some Empirical Evidence and Reflections on the Latin American Market for Contracts

The aim of this Article is to assess the preferences of parties to Latin American international business transactions when they choose the law governing their contracts. For that purpose, we have conducted an empirical analysis of data that we were able to gather from arbitral institutions active in Latin America, with a focus on years 2011 and 2012. We then offer some reflections on the results and assess whether they can be explained by the territorial approach of choice of law in Latin America, the importance of the United States as a trading partner for Latin American countries and the extent to which Anglo-American lawyers are present on Latin American markets.

Volatility and dependence structures of Latin American stock markets

PurposeRisk management has been crucial to investors and regulators for pursuing market diversification opportunities and developing strategies to ensure market stability. This study examines the dependence structures of volatility, related to co-movements and macroeconomic effects, among Latin American stock markets and the risk–return spectrum benefits in the Latin American market using time-varying returns and volatility forecasts within a multivariate structure.Design/methodology/approachThe sample comprised the largest stock markets in Latin America during the period from January 2000 to December 2017 and copulas and multivariate models were applied.FindingsThe results indicated that the copula with the best fit for modeling the dependence structure of the markets was symmetric Joe-Clayton with time-varying parameters. The dependence volatility structure was higher in the positive (upper tail) than in the negative (lower tail) returns, which may indicate that the Latin American markets had diversification benefits during downturns. Evidence of market coupling was found during times of the global crisis (subprime crisis) in Latin America. The presence of monetary and temporal effects over the dependence structures suggests that investors may obtain gains in a multivariate structure with copula distributions.Originality/valueThe findings will be of interest to researchers and practitioners for several reasons. First, this study contributes to the growing literature on the relationship between market dependence and volatility. Second, it indicates that the Latin American markets may present diversification advantages during downturns. Third, it informs the influence of macroeconomic effects on Latin American markets. The models that included the nonnormal and asymmetric characteristics of the financial market yielded better results in terms of less information loss and data adherence.

Lessons from the Lithium Triangle: Considering Policy Explanations for the Variation in Lithium Industry Development in the “Lithium Triangle” Countries of Chile, Argentina, and Bolivia

With lithium demand soaring for application in technology, it is vital to understand how states with lithium deposits can attract investment for extraction. Since the “lithium triangle” countries hold much of the world's lithium reserves, they serve as greatly contrasting case studies regarding lithium output. This research explains how policy differences in these three countries have resulted in differing output and industry development. Data are collected from investment reports, semi‐structured interviews, and surveys with insiders, finding two primary policy considerations. First, policy transparency and uniformity explain variation in investment and thus output. Unclear rules greatly deter investment, even when the resource is abundant. Then, property protections from state expropriation ensure these investments are secure and are more likely to attract investment and development. These findings have implications for emerging natural resource industries around the world and for those with geopolitical interests in securing access to critical resources.Related ArticlesDe Lombaerde, Philippe. 2015. “The Political Economy of Trade Protection in Colombia.” Politics & Policy 43 (6): 855‐886. https://doi.org/10.1111/polp.12140Villanueva Ulfgard, Rebecka. 2019. “Mexico's Struggle with Development between Global Compromises and National Development Plans.” Politics & Policy 47 (1): 50‐78. https://onlinelibrary.wiley.com/doi/full/10.1111/polp.12288Wise, Carol, and Cintia Quiliconi. 2007. “China's Surge in Latin American Markets: Policy Challenges and Responses.” Politics & Policy 35 (3): 410‐438. https://doi.org/10.1111/j.1747-1346.2007.00067.x

中美股市联动性成因及疫情期间联动性特点浅研究

中美股市联动性成因及疫情期间联动性特点浅研究