Intermarket timing in equity investments: Hong Kong versus Singapore
Article Abstract:
Market timing offers an attractive alternative to buying-and-holding assets if the investors can predict market movements accurately. The objective of this paper is to test the profitability of market timing between two national equity markets and to determine the required level of predictive accuracy for such a venture to pay off. Hong Kong and Singapore markets are chosen due to the likeliness for investors to switch investments between these two markets. three different frequencies of portfolio revision together with three livels of transaction costs are employed in the test. The results reveal that portfolios, that are revised every quarter, display the most likelihood of achieving profits greater than that of a buy-and-hold strategy. However, the required level of predictive accuracy accuracy may still be beyond the reach of most of the investors.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 2000
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Acyclicity and dynamic stability: generalizations and applications
Article Abstract:
A research study investigates the asymptotic stability associated with infinite horizon concave programming problems. A single-parameter group of conditions possesses the property of theta-acyclicity in which a convergence of the optimal paths to a stationary state is assured. Supermodularity is shown to imply acyclicity in a single-dimensional case. The theta-acyclicity is applied to two models of dynamic behavior in companies with adjustment costs.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
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Growth cycles and market crashes
Article Abstract:
Business cycles, stock market trends, and endogenous growth are examined in detail.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2001
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