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Efficient Market Hypothesis, 2006.
An examination of the critiques on efficient market hypothesis for portfolio management strategies.
3,220 words (approx. 12.9 pages), 22 sources, MLA, $ 92.95
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Abstract
Many studies on the efficient market hypothesis (EMH) and portfolio management suggest that the majority of professional investment managers cannot regularly beat a buy-and-hold strategy on a risk-adjusted basis. This paper attempts to examine the critiques on the efficient market hypothesis and the trend of the investors, financial analysts and portfolio managers to gather information to obtain excess-return. It begins with a brief description of the efficient market hypothesis and an outline of the characteristics associated with it, followed by a brief description of the new critiques against this hypothesis. It also discusses the relevant patterns that predict an excess return adjusted to the risk as well as new strategies applied by the investors.
Outline
Introduction
Efficient Market Hypothesis
Under-Reaction to New Information
Technical Trading Rules
Contrarian Strategy
Seasonality Anomaly
Predictable Patterns Based on Valuation Parameters
Book Value-Market Value Ratio
Initial Dividend Yields
Initial Price-Earnings Multiples
Predictable Patterns Based on Firm Characteristics
Insider Trading Abnormal Profit
Emerging Markets
Conclusion
From the Paper
"New conditions to beat the efficient market hypothesis has supported the shift away from market performance theories, based purely on mathematical or logical bases, to psychology and economics that offer some predictable patterns. (Mills, Roger p.37)
In fact the investment analysis still play an important role in decision-making concerning the purchase and sale of ordinary shares.(Arnold and Moizer 1984 p.195) The survey conducted by Arnold and Moizer (1984) suggests that the analyst use a common general pattern to appraise the ordinary shares using fundamental analysis like primary analysis technique to indentify shares over/under-valued. The other techniques, like technical analysis and beta anlysis, have a different purpose. The former is to determine the timing of the purchase and the latter is to evaluate the performance of portfolio management.(Arnold and Moizer, p.205)"
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Efficient Market Hypothesis, 2002.
This paper looks that the Efficient Market Hypothesis, Stock market and investment procedures and how investors should act within the market, also answering key questions such as the definition and explanation of the concept of an Efficient Stock Market.
2,150 words (approx. 8.6 pages), 15 sources, $ 80.95
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Abstract
This paper looks that the Efficient Market Hypothesis, Stock market and investment procedures and how investors should act within the market, also answering key questions such as the definition and explanation of the concept of an Efficient Stock Market. Also addresses the approach (active or passive) that equity fund managers operating in advanced capitalist countries should adopt.
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Efficient Market Hypothesis, 2002.
An introduction to the hotly disputed theory of Efficient Market Hypothesis which neglects the authenticity of financial analysis.
2,286 words (approx. 9.1 pages), 8 sources, APA, $ 70.95
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Abstract
This paper gives a thorough overview of the economic theory of Efficient Markets which states that prices of stocks and other securities fully reflect the information available to the investors in the market. The paper investigates why some finance professionals harshly oppose this system as it neglects the authenticity of fundamenetal or technical analysis. It shows that these professionals claim that if the assumptions of the theory were true, if investors traded their stocks in an efficient market, where prices are a reflection of available information, the buying and selling of securities would no more be considered as a business and it would become a matter of fortune to benefit from a sale or purchase of securities. The paper uses several stock market anomalies to show how the Efficient Market Hypothesis works.
From the Paper
"From the above discussed stock market anomalies, it is evident that the future trends of securities and stocks are predictable to some extent. In some circumstances, the predictability of security prices is inconsistent with efficient market hypothesis. In addition to the above-mentioned anomalies, researchers have also pointed out some other inconsistencies in the capital markets, which bring the authenticity of EMH to doubt. For instance, researchers have found evidences of rise or fall in capital markets in certain specific periods, leading to the conclusion that the capital markets are subject to certain periodic or seasonal effects. Moreover, several studies have also revealed that the price to earning ratios of the firms has a very strong capability to predict future fall or rise in prices (Campbell and Sheller, 1988)."
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The Efficient Market Hypothesis (EMH), 2001.
An examination of one theory of investor behavior.
4,316 words (approx. 17.3 pages), 4 sources, $ 114.95
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Abstract
This paper details the background to the ?Overreaction Hypothesis? and places it in the context of studies in cognitive psychology. The paper also examines the extensive and disputed evidence as to the existence of an ?overreaction effect? and whether the evidence is consistent with investor irrationality or can be explained by other factors. This methodology is primarily based on the original work of De Bondt and Thaler (1985).
From the Paper
"The ability of financial markets to interpret information quickly and accurately has been the subject of considerable academic and professional debate for over thirty years. Initially, the Efficient Market Hypothesis (EMH) was widely accepted and any dissenting opinion was considered heretical. General acceptance of the hypothesis lead to a fundamental change in professional investor behaviour away from active investment management and towards passive investment management."
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UK Concept of Market Efficiency, 2006.
A discussion of market efficiency and anomalies in the United Kingdom.
1,390 words (approx. 5.6 pages), 9 sources, MLA, $ 46.95
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Abstract
This paper studies the concept of market efficiency as it applies to the United Kingdom. The paper begins with a definition of the Efficient Markets Hypothesis, followed by an analysis of anomalies to this concept. Empirical observations about the January effect and the weekend effect are offered. The paper concludes with a comparison between the concept of market efficiency in the UK and other European countries. Market Efficiency January Effect Weekend Effect Anomalies and the Efficiency Market
From the Paper
"Market Efficiency could be defined as a concept of Efficient Markets Hypothesis. EMH follows that stock prices reflect information. The basic concept is that if markets are efficient then information of abnormal nature could be reflected simultaneously into the market. As a result of this effect, prices are also effected. On the other hand if markets are inefficient newly generated information will have a slower effect into the market thereby change in prices is also slow."
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Advanced Hypothesis Testing, 2007.
An analysis of the methods and conclusions of an advanced hypothesis test regarding teen pregnancies in the United States.
1,465 words (approx. 5.9 pages), 8 sources, MLA, $ 48.95
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Abstract
This paper details a hypothesis (regarding teen pregnancies in the United States) using varying statistics and statistical methods performed on data. It includes a hypothesis statement and details for the performance of the five-step hypothesis test on the data. The paper also includes a description of the results of the tests and a comparison of the results from the new hypothesis to the former.
Table of Contents:
Abstract
Hypothesis A
Analysis of Hypothesis A
Further Research Consideration
Hypothesis B
Analysis of Hypothesis B
Hypothesis Comparisons
Conclusion
Appendix I
From the Paper
"The United States, compared with all developed countries of the world, has one of the highest per capita pregnancy rates of teenagers (King, 2005). According to data posted on the March of Dimes website, the number of teenage girls that become pregnant each year is about 860,000. Although the statistics are alarming, evidence of a change in the trend is apparent. The National Center for Health Statistics of the Centers for Disease Control and Prevention produced data revealing a 23% decline in birth rates of unmarried teenagers in the past decade (King, 2005). This report will explore a specific influence that has affected the declining trend. Two hypotheses will be presented as support along with a description and analysis of the hypothesis testing."
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Hypothesis Testing, 2007.
This paper is an introductory description of the five-steps of hypothesis testing.
1,055 words (approx. 4.2 pages), 1 source, APA, $ 37.95
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Abstract
This paper uses the hypothesis statement, "The typical American drinks on average 3 or more 8 oz. caffeine beverages a day" to demonstrate hypothesis testing. The author points out the steps in the five-step hypothesis test: (1) formulate a null and an alternative hypothesis; (2) select a level of significance or risk for the research; (3) identify the test statistic; (4) formulate a decision rule and (5) do the calculations and make a decision. The paper relates that hypothesis testing can be used to test any claim about a parameter.
Table of Contents:
Research Issue
Hypothesis
Five-Step Hypothesis Test
Results
Other Uses of Hypothesis Testing
Excel Spreadsheets
Hypothesis Test: Mean vs. Hypothesized Value
From the Paper
"A one-tail test is a test that indicates a direction. This direction can be indicated by the use of words such as less than or more than, or it can be indicated by the use of the greater or less than mathematical signs. The direction of the tail is determined by which direction the alternate hypothesis points. A two-tail test is needed when the words or signs equal and not equal are used. By looking at the hypotheses, Team B determined that they will be conducting a one-tail test to the right."
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The Gaia Hypothesis, 1992.
Explores the roots of this ancient hypothesis and the Lovelock and Margulis theory, examining "Earth heals itself," James Kirchner's criticism and concludes that the hypothesis is infeasible.
1,350 words (approx. 5.4 pages), 6 sources, $ 47.95
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From the Paper
"The last few years have witnessed a renewed interest in ecology and the environment not seen since the 1960's. A number of factors have led to this interest. First, people are more aware of damages to the environment. Pollution affects vegetation, deceases agricultural yields and inflicts losses on the timber industry. Studies have indicated that pollution may have negative long term effects on our climate due to the "greenhouse effect". "Acid rain" is affecting the world's forests. Second, people are more aware of the hazards of pollution to their lives and health. Third, people are more aware of the consequences of the depletion of species. Since 1600 A.D., thirty-six species of mammals and ninety-four species of birds have become extinct.. Fourth, people are more aware of the depletion of resources and fossil fuels and their impact on ..."
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Hypothesis Testing and Child Development, 2002.
Briefly describes the process of hypothesis testing in child development.
650 words (approx. 2.6 pages), 2 sources, $ 26.95
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Abstract
Hypothesis testing is an extremely crucial aspect of the scientific process, for without being able to prove a hypothesis a given theory can be considered an inaccurate hypothesis, or a failure. Therefore, the need to demonstrate the accuracy of a given hypothesis is crucial to proving the accuracy of the theory itself. This paper explains how this type of testing is applied to child development.
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Stock Market Investment, 2006.
This paper explores two theories concerning investment in the stock market.
1,144 words (approx. 4.6 pages), 4 sources, MLA, $ 39.95
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Abstract
The paper describes and contrasts the efficient market hypothesis and the random walk theory and evaluates which is more likely to be the way the market reacts in the "real" world. The former theory suggests that the market is unpredictable because the stock price already reflects collective information that cannot be overcome by the individual investor. The latter theory states that the market is unpredictable because stock price fluctuations are not bound to any rules. The paper concludes that the efficient market hypothesis holds more truth because a stock price is really determined by collective information. The random walk theory doesn't take into account that the market is not random in the long term.
Outline:
Introduction
Body
Conclusion
From the Paper
"The price movement in the stock market is well studied by investors in hopes of making profit and getting above average returns. Fundamental and technical analyses have been used in the past (and is still being used right now) to determine which stocks are undervalued/overvalued. However, there are some theories that point to the fact that the stock market is inherently unpredictable, and that no one can continuously outperform the market. These are the "Efficient Market Hypothesis" and the "Random Walk Theory". These two concepts both highlight the market's unpredictability and the futility of analysis being done by investors. The Efficient Market Hypothesis states that the security prices of traded securities already reflect all known data, and that no stock is overvalued/undervalued. It implies that no amount of analysis will result in outperforming of the market. The Random Walk Theory, on the other hand, states that price movements are not subject to patterns or trends. Stock prices are just "random walks", where the price can either go up or down the next day without obeying any rule. It also implies that given a large number of investors, someone is bound to outperform the market - but this can only be attributed to pure luck. The rest of investors trying to predict the market will only underperform."
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Sapir-Whorf Hypothesis, 2002.
A discussion of the Sapir-Whorf hypothesis, an influential theory of anthropolgy and linguistics.
2,553 words (approx. 10.2 pages), 8 sources, MLA, $ 77.95
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Abstract
This paper begins by explaining that the Sapir-Whorf hypothesis is one of the most interesting and influential theories in the field of linguistics and anthropology. The idea that language actually forced people to think in different ways is both fascinating and controversial. The paper shows the ways that this hypothesis opens our understanding of the link between culture and knowledge. The paper includes direct quotes from the hypothesis which it then explains and expands upon.
From the Paper
"The Sapir-Whorf hypothesis ?postulated that language not only provided a means of communication but also shaped peoples? perceptions of the world? (McGee and Warms 2000: 370). The hypothesis drew heavily from the ideas and techniques used by linguists, with the methodological concepts developed by the Prague School of Linguistics in the 1920?s providing valuable insights into the importance of understanding the conceptual frameworks formed by, and expressed through, the native language (McGee and Warms 2000: 369). The Sapir-Whorf hypothesis was the most influential anthropological adaptation of these linguistic principles, the hypothesis having an enormous impact on anthropology providing a methodological framework emphasising cultural and linguistic relativity, and influencing several schools of anthropological thought."
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Whorfian Hypothesis, 2007.
An analysis of the relevance of the Whorfian Hypothesis (WH) to language learning.
3,802 words (approx. 15.2 pages), 12 sources, MLA, $ 104.95
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Abstract
This paper discusses the relevance of the Whorfian Hypothesis (WH) - also referred to as the Sapir-Whorf hypothesis - to language learning, in particular for the person who learned (or is learning) English as a second language. It looks at how there are conflicting views on the meaning of and application of WH - and on the value of this hypothesis about language. It reviews the available literature on the subject and offers value judgments on the significance of WH in various applications and learning environments.
From the Paper
"The operating hypothesis put forward was that a movie created entirely by this group might reveal "aspects of cognition and values that may be inhibited, not observable, or not analyzable" when the process of investigation relies on "verbal exchange" conducted in the language of the investigator. Moreover, producing film images then sequencing those images by editing, cutting and pasting, just might help researchers understand better the WH. Another operating theory here is that by treating the visual as though it were a language, and then following up by comparing the two "linguistic structures" (visual and verbal) - believing that both make statements about cognition and culture "across two modes" - may provide a context in which the Whorfian manner comes clearer into focus. "
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The Gaia Hypothesis, 2005.
An overview of James E Lovelock's Gaia hypothesis and its plausibility.
2,927 words (approx. 11.7 pages), 12 sources, MLA, $ 86.95
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Abstract
This paper examines looks at by James E Lovelock's Gaia hypothesis whose premise is that the entire planet evolves over time because of the interaction of living things with their surrounding environment. It describes the hypothesis in some detail and provides background information. This is followed by a discussion contrasting Lovelock's claims with those of his critics and proffers an approach toward reconciliation.
Outline
Abstract
Introduction
Background
Discussion
Conclusion
From the Paper
"Earth's atmosphere is not in a state of chemical equilibrium. It is full of gases that have an affinity for each other. Oxygen, nitrogen, and methane exist in sizable quantities, and left to their own devices, would quickly interact to form a new atmosphere of inert gases, very much like Mars' atmosphere (Margulis and Lovelock, p. 13(2)). So the persistent presence of uncombined methane, nitrogen, and oxygen in the atmosphere is strong evidence that something is replenishing these gases as fast as they naturally interact."
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"World Hypothesis", 2002.
An analysis of Stephen C. Pepper's book which examines four hypothesis relating to the world.
2,150 words (approx. 8.6 pages), 1 source, $ 80.95
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Abstract
This paper will discuss Stephen C. Pepper's book "World Hypothesis" and seek to understand the premise of his four hypothesis that explain the world. The main elements discussed are: Formism, Mechanism, Contextualism and Organism and these will be expounded upon to reveal their meaning in the opinions of the author. Also, a contrast and comparison will be constructed to further enhance the understanding of this essay.
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Constructing An Efficient Frontier, 2004.
A sample presentation of how to construct an efficient frontier.
2,034 words (approx. 8.1 pages), 4 sources, APA, $ 71.95
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Abstract
The paper discusses a sample project for constructing an efficient frontier using six asset classes. The paper includes graphs for two efficient frontiers.
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