Current Trends in Economic Research: Methodology and Practice
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- Olga B. Ivanova ORCID: orcid.org/0000-0003-2868-7898 11 ,
- Tatiana V. Plotnikova ORCID: orcid.org/0000-0002-8855-2066 11 ,
- Anastasia Ye. Malkhasyan ORCID: orcid.org/0000-0002-2754-3246 12 &
- Vladimir V. Klimuk 13
Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 380))
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- International Scientific and Practical Conference Operations and Project management: strategies and trends
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Digitalization of the economy and the rapid development of automation systems of various business processes at the macro and micro levels actualize the issues of applying the most modern methods of research during the analysis of economic processes and assessment of individual economic entities, as well as industries, regional or national economies. Despite the possibility of using a wide range of solutions for this purpose, any programs will be based on traditional research methods adjusted to the current economic realities. The article provides an overview of the main methods of economic research. There are examples of symbiosis of several types of methodologies from different fields of knowledge, as well as practical examples of the use of several methods in order to achieve specific economic objectives.
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Rostov State University of Economics, Rostov-on-Don, Russia
Olga B. Ivanova & Tatiana V. Plotnikova
Don State Technical University, Rostov-on-Don, Russia
Anastasia Ye. Malkhasyan
Baranovichi State University, Baranovichi, Belarus
Vladimir V. Klimuk
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Correspondence to Olga B. Ivanova .
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Pavel V. Trifonov
Faculty of Management, Southern Federal University, Rostov-on-Don, Russia
Marina V. Charaeva
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Ivanova, O.B., Plotnikova, T.V., Malkhasyan, A.Y., Klimuk, V.V. (2022). Current Trends in Economic Research: Methodology and Practice. In: Trifonov, P.V., Charaeva, M.V. (eds) Strategies and Trends in Organizational and Project Management. DITEM 2021. Lecture Notes in Networks and Systems, vol 380. Springer, Cham. https://doi.org/10.1007/978-3-030-94245-8_98
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IMAGES
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The efficient-market hypothesis (EMH) ... In their seminal paper, Fama, Fisher, Jensen, and Roll (1969) propose the event study methodology and show that stock prices on average react before a stock split, but have no movement afterwards. ... The book continued to be cited, but then starting in the 1960s the original thesis by Bachelier began ...
We shall conclude that, with but a few ex-. ceptions, the efficient markets model stands up well. Though we proceed from theory to empirical work, to keep the proper. historical perspective we should note to a large extent the empirical work in this area preceded the development of the theory.
Fama's results reported in 1965 were entirely empirical in nature, but the coincident work by Samuelson (1965) provided a strong theoretical basis for this hypothesis. The term "efficient market hypothesis" means many things to many people; Fama in his classic paper (Fama 1970) and other financial economists who have built on his work are ...
In 1970, in "Efficient Capital Markets: a Review of Theory and Empirical Work," Eugene F. Fama defined a market to be "informationally efficient" if prices at each moment incorporate all available information about future values. Informational efficiency is a natural consequence of competition, relatively free entry, and low costs of information.
The theory referenced for this paper is the 'efficient market hypothesis' (Fama, 1965, as cited in Lo, 2008. A theory that suggests the market prices fully reflects all available information (Lo ...
The EMH's concept of informational efficiency has a Zen-like, counter-intuitive flavour to it: the more efficient the market, the more random the sequence of price changes generated by such a market, and the most efficient market of all is one in which price changes are completely random and unpredictable.
Abstract. Revolutions often spawn counterrevolutions and the efficient market hypothesis. in finance is no exception. The intellectual dominance of the efficient-market revolution. has more been challenged by economists who stress psychological and behavioral. elements of stock-price determination and by econometricians who argue that stock.
The efficient market hypothesis and its critics, Princeton University, CEPS Working Paper No. 91; 444 Alexandra Gabriela Å¢iÅ£an / Procedia Economics and Finance 32 ( 2015 ) 442 â€" 449 Because of the very distinct results, on the following pages, I will present the main findings on short term and long term reactions that stock prices ...
Introduction. market is said to be efficient with respect to an information set if the price 'fully reflects' that information set (Fama, 1970), i.e. if the price would be unaffected by revealing the information set to all market participants (Malkiel, 1992). The efficient market hypothesis (EMH) asserts that financial markets are efficient.
Describes the lives, theories, and legacies of six great minds in finance who changed the way we look at financial markets and equilibrium. Bachelier, Samuelson, Fama, Ross, Tobin, and Shiller; proponents and critics of the market efficiency theories who redefined modern finance, creating the foundation on which all financial analysis rests.
The first time the term "efficient market" was in a 1965 paper by E.F. Fama who said that in an efficient market, on the average, ... The efficient markets hypothesis (EMH) suggests that profiting from predicting price movements is very difficult and unlikely. The main engine behind price changes is the
Abstract. This paper reviews and summarizes the work of Sewell (2011). The purpose is to investigate the evolution and development of the Efficient Market Hypothesis from its inception as theory of probability to Fama (1965) proposition and revision (Fama, 1970; 1991). It discusses the random walk theory and reports the various research papers ...
The Ef" cient Market Hypothesis and Its Critics. Burton G. Malkiel. A. generation ago, the ef" cient market hypothesis was widely accepted by academic " nancial economists; for example, see Eugene Fama' s (1970) in' uential survey article, " Ef" cient Capital Markets.". It was generally be- lieved that securities markets were ...
This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing ... Section 3 Eugene Fama's Efficient Market Hypothesis 12 The Early Years 93 13 The Times 98 14 The Theory 102 15 Discussion and Applications 107
This paper examines the attacks on the efficient market hypothesis and the belief that stock prices are partially predictable. While I make no attempt to present a complete survey of the purported regularities or anomalies in the stock market, I will describe the major statistical findings as well as their behavioral underpin-
Working Paper June 2017 Abstract: Two main claims are associated with the Efficient Market Hypothesis (EMH). First of all, the ... The History of Efficient Market Hypothesis (EMH) can be divided in three steps. The first step is the construction of the theory in the 1960s. In the second one, the establishment of an
Abstract. The efficient markets hypothesis (EMH) maintains that market prices fully reflect all available information. Developed independently by Paul A. Samuelson and Eugene F. Fama in the 1960s, this idea has been applied extensively to theoretical models and empirical studies of financial securities prices, generating considerable controversy as well as fundamental insights into the price ...
The paper attempts testing the random walk hypothesis, which the strong form of the Efficient Market Hypothesis. The theory suggests that stocks prices at any time "fully reflect" all available information (Fama, 1970). So, the price of a stock is a random walk (Enders, 2012). iii
Abstract. An efficient capital market is one in which security prices adjust rapidly to the arrival of new information. The Efficient Market Hypothesis (EMH) suggests that security prices that prevail at any time in market should be an unbiased reflection of all currently available information and return earned is consistent with their perceived risk.
Session Topic: Stock Market Price Behavior. EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK * Burton G. Malkiel, Burton G. Malkiel. Session Chairman. Search for more papers by this author. Eugene F. Fama, Eugene F. Fama. Joint Session with the Econometric Society.
The efficient market hypothesis is highly discussed in economic literature. In its strongest form, it states that there are no price trends. When weakening the non-trending assumption to arbitrary short, small, and fully unknown trends, we mathematically prove for a specific class of control-based trading strategies positive expected gains. These strategies are model free, i.e., a trader ...
This paper presents a test of the joint hypothesis that money supply announcements affect the real interest rate and that changes in the real interest rate affect the exchange rate in the short run. ... (e.g., Cornell, 1982; Engel and Frankel, 1982). According to the efficient market hypothesis (Fama, 1970), asset prices should fully reflect ...
Fig. 1. Types of economic research methods. General logical methods of knowledge include methods such as analysis, synthesis, abstraction, generalization, induction, deduction, analogy, modeling [ 1 ]. If we talk about the peculiarities of the methodology of economic research, their most popular tool is analysis.