Market Composition Essay -- Global Finance, Investments

Over the past two decades, a panoply of behavioral finance research has been devoted to exploring the trading patterns of behavior and trading performance of individual and institutional investor categories over time and across exchanges. In fact, this intriguing research topic is of considerable interest to academic scholars and market practitioners alike, because it has great academic value and practical implications for industry. Specifically, capturing the trading pattern and investment performance of each investor group within a particular country can cast light on some worthwhile issues such as market composition, information transmission, asset price formation, and market efficiency and liquidity. Due, in part, to the information asymmetry evidenced between institutional investors and individual investors (e.g., Alangar et al., 1999; Lin et al., 2007; Duong et al., 2009), each group is more likely to have its unique characteristics. In their 2008 study, Kaniel et al. point out that institutional investors are by and large perceived to be better-informed rational traders, and to have a rather long-term investment perspective. In contrast, individual investors are generally viewed as unsophisticated traders, who prefer short-term investment horizons and are deeply involved in making sentiment-driven investment decisions based on their own cognitive biases. On the other hand, researchers working in the area of behavioral finance distinguish between two acknowledged trading patterns premised on investors' reactions to the past price movements of stocks. The first pattern of behavior is labeled as momentum investing or positive feedback trading, in which investors purchase (sell) a stock in anticipation of a further rise (d... ...kes (2011) report significant evidence that all three investor types – especially insurers – are more contrarian when selling than buying, which suggests that investors are reluctant to realize losses, in conformity with the evidence presented by Grinblatt and Keloharju (2001) and Odean (1998). More recently, Phansatan et al. (2012) examine the Stock Exchange of Thailand (SET) and find that individual and institutional investors appear to be contrarian traders as opposed to foreign investors who are shown to be positive feedback traders. Interestingly, the trading strategies of institutions in the Thai stock market lead to very inferior security section, and thus very poor overall trading performance. On the other hand, the trading behavior of individual investors brings about gains from security section, but their poor market timing counterbalances these gains.

Prince Shotoku

Prince Shotoku Prince Shotoku was born on February 7,572. Prince Shotoku was a member of the imperial clan and took the throne after Empress Suiko’s reign. He was also known as Prince Umayado, Prince Kamitsumiya. Prince Shotoku was the son of Emperor Yomei. He was the second son born to the Emperor. When he was very little, he read a lot of books and he became very smart. Because of his intelligence and mind, Emperor Yomei decided that his second born son would make a good prince and future emperor. Prince Shotoku came into power in 593.Shotoku was inspired by Buddhist teachings, and wished to form a centralized government in his ruling era. Prince Kamitsumiya created and formed Japan’s first Constitution, also known as the Seventeen- Article Constitution to have rules for officials to be more worried about political affairs. He also wanted to spread Buddhism throughout Japan and build temples and much more to spread around the world. Prince Shotoku believed in Buddhism and followed all of the Buddhism to reach paradise and be a good Emperor.He was a very intelligent ruler with all of his thoughtful ideas and plans, he brought Japan to its Golden Age. He allowed his people to believe that he was a good ruler and could bring peace and harmony into Japan. After his years of ruling, he has turned Japan into a powerful aristocracy, and also noble families also held high positions in the government. â€Å"All men are influenced by partisanship, and there are few who have wide vision. † – Prince Shotoku From February 7, 572- April 8, 622

Justice Is Unfair Or Unjust - 1189 Words

When one hears the word, justice, one would think of the courts and how people are dealt out punishment based on the law. One may also think of several court cases where the outcome may have been unfair or unjust. It is interesting how justice is perceived by people as justice can mean several things to people, like what is true justice? How is a sentence deemed fair? Most people believe that true justice is when a sentence is given to someone and that the sentence chosen is in line with the crime committed by the person who is deemed guilty. However what if there was a person who committed a murder but had a mental illness. Is it fair to give him the death sentence? Some would say yes because they killed someone, however others would†¦show more content†¦Though Arthur didn’t want to kill his wife, whom he loved so dearly, the King wished for true justice to prevail so he ordered his wife to be executed in the name of the law. Here is an example of how the King put hi s emotions in check in order for justice to prevail. However one would wonder whether it was really true justice as the king had forgiven his wife but he had to still attempt to execute her. As such, it can be lead to believe that true justice isn’t real. Though a ruling might seem just to one party, it may be be unfair to another. In the court system one party may receive the proper justice that they wanted but the other may feel as the judgment was unfair. The poet, Langston Hughes dealt with this matter through his poetry. In his poem, â€Å"Justice†, Hughes calls justice a â€Å"blind goddess† (Hughes â€Å"Justice† 1) that only â€Å"we black are wise† (Hughes â€Å"Justice† 2). By doing so he is calling out that justice is unfair, in the context of his poem, he is relating to the matter regarding black rights in America during the 1900’s. He states that the current justice system is only fair to white people and not black. This helps to prove the point that rulings are often unfair especially in regards to racial issues. In the past court cases, blacks were unfairly treated and prosecuted due to the fact that it was deemed at the time that whites were ‘superior.’ However over time this changed though itShow MoreRelatedThe Act of Cheating870 Words   |  4 Pageswant to be on unequal ground with anyone. If you can get an edge you take it. Such is the way of our nature and of our current society. A good example of this is performance enhancing drugs in sports. If a player or team uses it, it gives them an unfair advantage against other teams. Most players and teams respond to this by using those drugs themselves to even the playing field. It’s only fair since the opposing team would have performed drastically better than them if they had not. And by usingRead MorePrejudicial issues in To Kill a Mockingbird by Harper Lee Essay753 Words   |  4 Pagesof Atticus. 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