Financial markets

2.2 Art as an Alternative Investment: Returns, Risks and Correlation with Financial Market 2.2.1 Return Rate and Risk Based on art market indices, attention has been drawn to investigate the risk-return rate of art investment and the correlation between the art market and other markets in the academic field. Some representative researches on return rate and risk of artwork investment were considered to be the starting point of growing interest in art investment among academics. Goetzmann (1993)

From the Efficient Market Hypothesis to Behavioral Finance How Investors’ Psychology Changes the Vision of Financial Markets by ADAM SZYSZKA Poznan University of Economics Poland adam.szyszka@ae.poznan.pl I. Introduction The efficient market hypothesis (EMH) has been the key proposition of traditional (neoclassical) finance for almost forty years. In his classic paper, Fama (1970) defined an efficient market as one in which “security prices always fully reflect the available information”

| | | Selected Answer: |    [None Given] | Correct Answer: |  c. be the same as the current rate. | Response Feedback: | incorrect | | | | | * Question 2 0.25 out of 0.25 points | | | If the market processes new information efficiently, the reaction of market prices to new information will be:Answer | | | | | Selected Answer: |  a. instantaneous and unbiased. | Correct Answer: |  a. instantaneous and unbiased. | Response Feedback: | correct | | | | | *

in globalized financial sector. Nonetheless, market abuse is a great threatening for integrity of the financial market and prevents the its development and adjustment. By the reason of fact the market abuse caused abusive behavior the financial market has become vulnerable. In this manner today’s financial sector need to mull over new improvements in this sector. For this purpose financial security regulations have been corrected and rebuilt to prevent the market abuse. The Market Abuse Directive

Financial Markets and Institutions SEVENTH EDITION The Prentice Hall Series in Finance Alexander/Sharpe/Bailey Geisst Fundamentals of Investments Megginson Investment Banking in the Financial System Andersen Corporate Finance Theory Melvin Global Derivatives: A Strategic Risk Management Perspective Bear/Moldonado-Bear Gitman International Money and Finance Principles of Managerial Finance* Principles of Managerial Finance–– Brief Edition* Mishkin/Eakins

also plans to introduce trading of gas and electricity futures in a few years, he said. Unit Asian Gateway Investments bought a 49 percent stake in Energy Market

Overview of financial markets, institutions and money 1. Explain the role of the financial system and why it is important to individuals and to the economy as a whole The financial system consists; i) Financial markets (markets for buying and selling financial instruments) Money market and capital market Primary and secondary market Creation of Financial assets (shares, bills, notes) Trading of financial assets ii) Financial Institutions Banks, finance companies, credit unions Invest in financial assets

INTRODUCTION In March 2015, Japan’s Financial Markets Agency for the first time in its history set out Corporate Governance Code and a year earlier Stewardship Code. Even though some efforts towards corporate governance and transparency have been made in Japan previously, specifically introduction of dual system in 2003, they did not gain popularity. Only 40 out of 3,000 firms adopted this system immediately rising to 112 five years later. However, these codes were necessary due to the pressure

last 25 years (1992-2016). The best performing month since 1992 has been April, gaining an average of +1.9% (total return). The S&P 500 consists of 500 stocks chosen for market size, liquidity and industry group representation. It is a market value weighted index with each stock's weight in the index proportionate to its market value (source: BTN Research). 2. MISS A LITTLE, MAYBE MISS A LOT - Over the 5 years of trading through 6/30/17 (i.e., 7/01/12 through 6/30/17), the S&P 500 was up +14

Introduction According to Rosvall & Bohlin (2014:1), risk is the price of opportunities provided by the stock market for investors. If investors would like to minimize risks of stock trading process, the portfolio investments are vital to be concentrated on (Anghelache & Anghelache, 2014:8). Besides, Goetzmann & Kumar (2008:433) also stated that portfolio investment is a great choice for investors to eliminate risk. This study has provided simulation of investment and process of establishing a portfolio