Stock Purchase Research Articles

Examining Historical Rates of Leafcutting Bee Brood Cell Pathogens, Parasitoids, and Predators to Establish Baseline Infectivity Rates for Alfalfa Seed Growers.

The alfalfa leafcutting bee Megachile rotundata (Fabricius) (Hymenoptera: Megachilidae) is the primary pollinator for the alfalfa seed industry. It is a solitary cavity nesting bee that utilizes leaf lined brood cells provisioned with pollen for larval development and pupation into the adult stage. During development, multiple pathogens, parasitoids, and predators can prey upon or use the larvae as a host, resulting in the loss of the future adult bee. As such, the presence of invertebrate pests and fungal pathogens presents a major concern for commercial alfalfa seed growers. In the present study, we used historic data from the Parma Cocoon Diagnostic Laboratory to determine baseline rates of pathogens, parasitoids, and predators of Megachile rotundata brood cells and used this analysis to determine cutoffs for management practices to inform growers when the purchase of new bee stocks should be considered. Additionally, we compared the presence of chalkbrood, predators, and parasitoids in samples collected from both grower-produced stocks and newly purchased Canadian bees. The results of the investigation provide historic averages of the presence of chalkbrood, predators, and parasitoids, show a significant increase in chalkbrood and predators in 2007–2011, and find a significant difference in rates of chalkbrood and predators between samples from Canadian suppliers and grower stocks. We speculate that these differences may have resulted from economic conditions that increased the cost of Canadian Megachile rotundata cells and likely resulted in increased reliance on 2nd-year U.S. grower stocks and subsequently increased infection rates during this time period.

Determination of pedestrian accessibility for urban public transport stops

Introduction. This article is devoted to the problem of determining the territorial (pedestrian) accessibility of stopping points in large cities, which is one of the indicators of the quality of transport services for the population.The aim of the study is to develop a methodology for determining the territorial (pedestrian) accessibility of stopping points of a large city with a thousand or more stopping points, based on publicly available data. The cause of the study was the dificulty of solving this problem, due to the large number of both stopping points and residential facilities, the straightforwardness of the shortest pedestrian approach, the lack of detailed instructions for performing calculations, etc. Based on the review of Russian and foreign scientific sources, approaches to determining the territorial accessibility of stopping points were considered, taking into account various additional parameters, such as the number of routes passing through a stopping point, the intensity of passenger exchange, the availability of socially significant objects, etc. The existing difficulties and peculiarities in determining the availability of stopping points for individual and multi-apartment residential buildings are given. In the framework of the System-wide measures for the development of road facilities federal project and the Safe and high-quality roads national project when preparing an application for the purchase of passenger transport rolling stock for Omsk, the authors carried out scientific and practical work, as a result, a methodology has been developed to overcome some difficulties in determining the transport accessibility of stopping points in a large city by using a partially automated approach at its individual stages.Materials and methods. In particular, tools such as Yandex Map Designer, Table Excel Editor, Xtools Add-in for Excel, QGIS program, Macro in Excel using JavaScript API and HTTP geocoder were used.Results. The calculation of territorial accessibility of stopping points using the developed methodology was carried out for Omsk. The application of this technique allows to reduce labour intensity of calculations up to 10 times. Discussion. The discussion of the results presented guidelines for further improvement of the developed methodology

Prediction of stock purchase decisions using artificial neural network method

The difficulty of determining a stock purchase decision is a problem to benefit from stock transactions. This study aims to give a person's decision to buy one of the issuer's company shares to get a profit on the same day. The dataset used in this study came from the investing.com website in the form of daily data shares of PT Indofood CBP Sukses Makmur Tbk with ICBP stock code for the period January - September 2019. The attributes used in this study were the opening price, highest price, lowest price, closing price, transaction volume, day representation, and decisions. The dataset that has been collected was normalized using the Min-Max method to facilitate data processing. This research used the backpropagation neural network method and used the 10-Fold Cross Validation and Confusion Matrix for validation. The results of this study indicate that the backpropagation neural network method uses the bipolar activation function with training cycles of 2000 and learning rate of 0.03 has the best performance namely 69.35% of accuracy, 67.65% of precision, 74.19% of recall and 30.65% of error rate for prediction of stock purchase decisions per day in the form of buy or not.

Kiss the baby for the nurse's sake? - Guaranteeing employees' stock purchase against loss program

This paper investigates the unique and interesting phenomenon of the Guaranteed Employees Stock Purchase against Loss Program (GESPLP) that Chinese companies have initiated in recent years. The GESPLP encourages employees to buy shares and ensures them against losses for 12 months. We comprehensively investigate the direct reason, root reason, motivation, and consequences of this program. Based on manually collected data from all firms issued the GESPLP, we provide convincing evidence that companies with lower stock returns and higher stock pledges are more likely to initiate a GESPLP. The market reaction to the announcement of a GESPLP is positive in the short run. However, stock prices gradually revert to their pre-GESPLP level. Finally, our findings support the conjecture that the GESPLP is used to relieve the pressure of margin calls on corporate insiders' stock pledging in the short term. In a relatively long run, we observe the GESPLP indeed helps controlling shareholders reduce pledging level.

Directors’ stock-purchases on stock performance: Evidence from Colombo Stock Exchange

Abstract Purpose: This study examines how directors’ stock-purchase transactions would result in stock performance, assessing whether directors’ stock-purchase transactions are rapidly reflected in stock prices in Colombo Stock Exchange, Sri Lanka. Moreover, it studies how stock-purchase transactions based on directors’ gender, would result in stock performance. Research Methodology: The analysis covers a period from March 2013 to March 2019, and includes 141 directors’ stock purchases. Research issues are investigated using an event-study methodology. Results: Significant negative abnormal returns follow directors’ stock-purchase transactions, which indicates they are not rapidly reflected in stock prices. Gender-wise, male directors’ stock-purchase transactions result in significantly negative abnormal returns, whereas for its female counterpart, no significantly abnormal returns are observed. Further, both male and female directors’ stock-purchase transactions are not rapidly reflected in stock prices. Limitation: The study does not consider the number of shares purchased. Certain director stock purchases have to be omitted due to a lack of data. Contribution: Policy-makers could implement actions to prevent harmful trading activities and to improve the reporting timelines of directors' stock purchases. Consequently, the information asymmetry could be minimized. Hence, investors could engage in stock purchases confidently, which results in mitigating the company’s cost of capital.

Warranting Further Discussion: Why the Use of Financing Warrants in ESOP Transactions Benefits American Workers

The leveraged Employee Stock Ownership Plan (ESOP) structure was created by US Congress to enable American workers to gain an equity interest in their companies without using their own funds. A critical component in the financing of leveraged ESOP transactions is a “warrant,” which enables corporate sponsors of ESOPs to access the financing necessary to facilitate purchases of company stock by ESOPs. Warrants also afford substantial benefits to ESOPs by providing downside risk for ESOP participants, freeing up cash for more productive uses than servicing interest on debt and aligning all corporate stakeholders' interests toward the common goal of increasing equity value. Recently, however, the US Department of Labor (DOL) has taken the position that warrants necessarily reduce the fair market value of a subject company's equity in an ESOP transaction. This position, which would discourage ESOP formation, is contrary to both the “fair market value” standard that governs ESOP transactions and the DOL's long-held position on this issue. By helping to clear misconceptions around the use of warrants in leveraged ESOP transactions, we hope to contribute to the continued proliferation of ESOP ownership, resulting in a broader-based participation in wealth creation among American workers.

THE STOCK PURCHASE STRATEGY DURING THE COVID-19 PANDEMIC

Since the COVID-19 pandemic throughout 2020, the Composite Stock Price Index (JCI) has decreased by minus 18.3% (idx.channel.okezone.com) and this is almost completely evenly distributed across several trading floors in the world. The urgency (priority) of this research is to be able to add a new perspective on the business environment analysis model as an investment strategy in determining and determining stock purchase decisions appropriately while considering internal and external business environmental factors that are able to dynamically influence investors' perceptions in minimizing losses on their portfolio of shares. This research method is a qualitative descriptive method. The key informants in this study were the manager of mutual securities in Bandung, the manager of UOB Kay Han Securities in the Bandung branch, and the manager of the securities in the Bandung branch. The Indonesia Stock Exchange (IDX) noted that the stock investor base, which incidentally is the millennial generation, has reached 60% of the total stock investors on the IDX. However, the results of a New Harris poll through the Stash application as quoted from the Financial Services Authority (OJK), almost 80% of young people do not even look at investing in the stock market. As many as 34% of the younger generation stated that they were reluctant to invest in stocks because the working system in the stock market was too difficult to learn or understand. Yes, you know, there are many terms in the capital market, especially stocks, such as bullish, bearish, and many others. Based on an interview with the Manager of Danareksa Sekuritas Branch Bandung as an informant, starting a stock investment is very easy. Capital for investment is currently starting from Rp. 100 thousand. No need to deposit millions of rupiah, just learn stock on the website, join trainings or enter capital market school. Self-taught learning can also be done by asking friends who have already entered the capital market or reading books and finding out on the internet. For stock investment, you must understand the basic knowledge first. Starting from learning to read the movement of the Composite Stock Price Index (JCI), when is the right time to buy or sell shares, to learning strategies and mitigating the risk of loss. To analyze and choose a strategy for buying shares during the COVID-19 pandemic, there are two basic approaches, namely : Fundamental Analysis Strategy and Technical Analysis Strategy.

The effectiveness of government stock purchase during market crash: Evidence from China

During the Chinese stock market crash in 2015, the Chinese government formed a “national team” to directly purchase stocks of more than 1000 firms. We find that the national team's interventions lower the stock price crash risk for these firms; however, they also increase stock price synchronicity, transaction cost and decrease idiosyncratic information. The stabilizing role of the “national team” disappears in the long run after the crisis period. Firms with more noise traders and a lower level of investor confidence benefit more from the national team ownership, consistent with the conjecture that the national team improves market liquidity and investor confidence.

The Impact of Social Knowledge on the Efficiency of the Financial Markets: A Case Study on the Erbil Stock Exchange

This study was designed to investigate the factors that can have an impact on the efficiency of financial markets, and the Erbil Stock Exchange was chosen as a case study. The researchers sought to evaluate the level of social knowledge by concentrating on certain dimensions which have a direct influence on the public’s perspective regarding financial markets – namely religion, culture and economic awareness – and the number of people participating in the sale and purchase of stocks and shares. This study tested the hypotheses by applying some statistical analyses, and the outputs are detailed in the tables, figures and factors. According to the results, the efficiency of the stock market is affected by monthly income, culture and religion, and public experience. It was also found that there is no difference in perspective between men and women regarding investing in the stock market. This is supported by the hypothesis test results, which indicated that there is no correlation between gender and economic awareness, number of participators, culture, and religion. The results of the factor analyses show that there is a significant correlation between religion, culture, economic awareness and the number of people participating and social knowledge, and that these factors significantly affect the efficiency of the stock market.

Pengaruh Kurs terhadap Inflasi dan Harga Saham: Studi Kasus di Bank BTN

This study aims to determine the effect of the exchange rate and inflation on the stock price of Bank BTN. This study uses quantitative methods. The population in this study is Bank BTN because this research is a case study. The choice of Bank BTN was due to the lack of research on exchange rates, inflation, and related stock prices. This study uses data from Bank BTN's financial statements obtained from the IDX.co.id page. This study uses the period from the third quarter of 2010 to the second quarter of 2020. This study uses linear regression analysis because it uses one independent variable and two dependent variables. The independent variable in this study is the exchange rate. The dependent variables in this study are inflation and stock prices. The results showed that the exchange rate had a significant positive effect on inflation and stock prices of Bank BTN. The results of this study can be used as a reference for making stock purchase decisions, especially at Bank BTN. An overview of further research is also presented here.

Accounting Information and Stock Price: Empirical Evidence from Quoted Manufacturing Firms in Nigeria

The objective of the study is to examine the nexus between accounting information and stock price of quoted consumer goods manufacturing firms in Nigeria. The study adopts an ex post facto research design; and, the sample drawn from quoted consumer goods manufacturing firms on the Nigerian Stock Exchange (NSE). The study employs a combination of descriptive and inferential statistical technique to analyse the data. The panel data from 2011 to 2019 was retrieved from annual financial reports and empirically analysed using the pooled OLS procedure. The results showed a non-significant negative effect of earnings per share and sales growth ratio on the stock price indicator; while, the operating cashflow ratio had a significant positive effect. The profitability ratio, i.e., return on assets had a non-significant positive effect on stock price indicator. Based on this, the study recommended that investors pay closer attention to information from the statement of cashflows as they tend to portray the true state of affairs in most companies. The futility of using only the profitability indicators as a yardstick for stock purchase decision. In addition, the use of supporting documents such as the corporate governance report to reveal otherwise information not obtained from the quantitative counterpart and vital for investment decisions.

ARTIFICIAL INTELLIGENCE IN STOCK MARKET INVESTMENT

This study investigates the selection of stock from huge stock markets and by using good selection tools so that it will give a good return value. It helps investor to find an easy decision regarding their investment in stock market individually with effective collection of trading activities. Many artificial intelligence (AI) techniques are untested in the financial crisis scenario. This research really helpful to the investor in the stock selection and stock purchase decision. AI is also a one of the hottest topic for most industries, researchers and investors. The financial market is easy to analyze with multiple charts, due to the application of artificial intelligence.

Sales and Stock Purchase Prediction System Using Trend Moment Method and FIS Tsukamoto

The purpose of this research is to build decisions support model to predict sales and stock purchase using Trend Moment method and Tsukamoto Fuzzy Inference System. Trend moment is a simple statistical-based forecasting method widely used to forecast sales in a company using historical data. Tsukamoto is a fuzzy inference system that uses monotonic reasoning to determine output. The object of this research is sales and purchase data for Ice Cream X Depo Jambi products from August 2019 to April 2020. The study aims to build a decision support model web-based to predict sales and purchases of ice cream X stock at Jambi depots. Fuzzy Tsukamoto in this study will be used to predict product stock purchases after predicting future sales using trend moments. The system input is in product data form, data of ice cream sales history, and data of ice cream stock purchase. Sales history data will be use to calculate slope and constanta that will predict future sales trends. Stocks purchase history data along with sales trend prediction value will be use to calculate the membership degree of fuzzy variables, perform the aggregation process on fuzzy rules, and then carry out the defuzzification process to produce output prediction values for future ice cream stock purchases. from the prediction model implemented in the decision support system, sales prediction data has an accuracy of 71% while stock purchase predictions have an accuracy of 85%.

Land, sheep, and market: how dependency on global commodity chains changed relations between pastoralists and nature

Land, sheep, and market: how dependency on global commodity chains changed relations between pastoralists and nature

From Profit to Polity: A U.S. Water Utility’s Transition to a Government-Shareholder Model

The Pennichuck Corporation, located in New Hampshire, U.S., provides a unique opportunity to explore the rare structural transition from investor-ownership to a government-shareholder model for a long-standing regional water utility. In early 2012, concluding a ten-year dispute, the City of Nashua leveraged its power of eminent domain to become Pennichuck’s sole shareholder not by a taking but by a stock purchase agreement transferring the entirety of the company’s regulated and unregulated assets. We draw on primary documentation and data to review the terms of the transaction and contrast the ex-ante and ex-post models. Utility operations and state economic regulation remained constant over the transition, thus controlling for their potential effects. Our descriptive analysis of time-series financial and other data provides evidence of outcomes, including the lower cost of capital and operations. This information-rich case illustrates the arduous process of public acquisition, calling into question the institutionalized policy asymmetry favoring private over public acquisitions, which undermines structural competition.

Do You Feel Lucky? Lottery Jackpot Winnings and Retail Trading around Neighborhoods

Using lottery jackpot winnings within neighborhoods as exogenous shocks, we examine whether feeling lucky affects retail stock purchases. We find that retail investors who trade through brokerage branches located close to stores that sell jackpot-winning tickets buy more stock shares than their counterparts. More importantly, these retail buys tend to lose money. We also find that these retail investors tend to purchase lottery-like stocks, linking the luck-driven trading motive to the traded targets under the common theme of gambling. We substantiate our results via several sets of falsification tests and robustness checks. Overall, feeling lucky induces retail investors to trade aggressively and leads to welfare losses.

Optimization of Stock Portfolio Using the Markowitz Model in the Era of the COVID-19 Pandemic

Stocks are one of the popular investment instruments traded in the capital market. The popularity of stock purchase has developed along with the massive financial literacy movement. However, the massiveness of this movement must be balanced with knowledge and expertise in managing stock instruments since they have a high return rate and high risk. One way to manage stocks is by developing an optimal stock portfolio based on the Markowitz model. The Markowitz model is a method that formulates the elements of return and risk in an investment, and specifically the elements of risk can be minimized through diversification and combination of various investment instruments into a portfolio. By using the Markowitz method, investors can take advantage of all available information as a basis for maximizing the portfolio. This study aimed to determine which stocks can form an optimal portfolio, especially in the era of the COVID 19 pandemic and the optimal proportion of the portfolio that is feasible to obtain from stocks listed in the LQ 45 Index. The study samples involved stocks listed in the LQ 45 Index. The data analysis technique applied in this study was portfolio optimization using the Markowitz model. The results of this study showed that the optimal portfolio consisted of BBCA with a weight of 78.09% and BRPT with a weight of 21.91% which produced an expected return of 2.35% and a standard deviation of 7.01%.

Familiarity and Surprises in International Financial Markets: Bad news travels like wildfire; good news travels slow

In this paper, we decompose attention allocation into two components – the familiar and the surprising – with opposite implications for US purchases of foreign stocks. On the one hand, familiarity-induced attention leads to an increase in US holdings of foreign equities. On the other hand, surprise-induced attention is associated with net selling of foreign stocks because US investors tend to pay more attention to negative than to positive economic surprises from foreign countries. Our findings suggest that information asymmetries between locals and non-locals are more pronounced when it comes to good news, with information regarding bad news being relatively symmetric.

The Hidden Cost of Profit Sharing on Participation in Employee Stock Purchase Plans

Many firms use equity-based profit sharing to boost participation in employee stock purchase plans (ESPPs). Using a large panel data set (N=262,824) of a multinational firm, we compare the reactions of former ESPP participants and non-participants to a profit sharing distribution (PSD). We find a dysfunctional effect. Although many former non-participants sign in, almost a similar share of employees leave the ESPP after the PSD. A closer look highlights the importance of social preferences when all employees enjoy profit sharing. Prosocial former participants show a motivational crowding out effect and leave the program, as the equity norm is violated.

주주의 회계장부열람청구권에 관한 쟁점사항 검토

In a stock company, the interests of various entities such as shareholders and creditors etc. are complexly linked, various disclosures of the company are very important to them. Because shareholders check the profitability and recovery of investments and whether or not to change directors based on the disclosures made by the company, and creditors also view the disclosures to determine the possibility of reimbursement and decide whether or not to collect bonds. Moreover, in the case of listed companies, disclosure is also required to maintain fairness in stock transactions. As such, the company’s disclosures and their contents are monitored by shareholders, creditors, and the market, and thus serve as a means of inducing the rational performance of directors. However, since it is difficult to fully disclose company information containing corporate secrets, the Commercial Act mandates disclosure only for certain information, and the scope of disclosure is different according to minority shareholders, general shareholders and creditors.<BR> A stock company shall prepare financial statements, its annexed statements, business reports, and audit reports, and keep a certified copy of it at the head office for 5 years from one week before the day of the general shareholders’ meeting for 3 years and disclose it, the listed companies, etc. subject to the Act on External Audit of Stock Companies etc. must also keep and disclose the audit report of an external auditor. Therefore, if a director neglects this duties, the shareholders who suffered damages can hold the directors liable for damages, and the listed companies are liable for damages due to insolvency disclosure. However, since these documents are prepared by the company for disclosure, there is a risk of fraud, so shareholders who are investors and managers need to obtain more detailed corporate information. However, since it is difficult to fully disclose the financial information of a company that contains corporate secrets, the Commercial Act requires only certain information to be disclosed. However, in order to protect shareholders’ interests, Shareholder’s Right to Inspect Books of Account is recognized. However, only the basic content is defined in a single article, and various issues related to it are resolved by theories and precedents.<BR> The issues related to Shareholder’s Right to Inspect Books of Account are very diverse. Of course, a large part of the solution has been resolved through previous studies and precedents, but new issues are still being raised, and a rational interpretation and legislative supplementation through comprehensive review are necessary. Therefore, in this paper, the following measures were suggested. That is, 1) In relation to stocks, the concept of ownership and the concept of holding are used interchangeably, which must be unified as the concept of ownership. 2) The retention requirement of 6 months or longer applied to listed companies is too long and should be shortened to a reasonable period. 3) Considering the recent trend of digitization, not only documents but also electronic documents should be recognized as a method of requesting access. 4) There is no standard for judging whether a request for reading is unfair or not, so it is resolved according to theory and precedent, but the Japanese Company Law provides examples of unfair claims. Therefore, first of all, it should be judged based on this, but legislatively supplemented in the future. 5) It should be legislatively clarified so that the company cannot reject a request for access to accounting books, etc. while the shareholder proceeds with other procedures such as exercising the stock purchase right or filing a representative lawsuit. 6) Even if the company initiates the rehabilitation procedure, it should be interpreted that the shareholders can request for inspection, and legislative supplements should also be provided.