The Influence of Trading Volume, Market Trend, and Monetary Policy on Characteristics of the Chinese Stock Exchange: An Econophysics Perspective

Meng, Ran; Tang, Zhenpeng; Chen, Weihong

doi:10.1515/phys-2019-0105

Cited by 4 publications

(6 citation statements)

References 20 publications

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“…In financial markets, this is indeed the case and the model could explain-at least partly-why we witness volatility clustering in financial data and other economic time series as well [20]. If abrupt price changes are necessary for equilibriumseeking, it could also be one explanation for why we witness fat tails and multi-fractality in financial time series [21]. The tractable model presented in this paper demonstrates how a simple price adjustment mechanism with simple assumptions is actually nonlinear.…”

Section: Discussionmentioning

confidence: 66%

General Equilibrium with Price Adjustments—A Dynamic Programming Approach

Lindgren¹

2022

Analytics

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This research article develops a dynamic framework for the Walrasian pure exchange economy and thus extends the static Walrasian general equilibrium theory into a dynamic one with price adjustments. An evolution equation for the price vector is derived from dynamic programming considerations. The economy tries to move from disequilibrium to general equilibrium by minimizing certain cost functional. The cost functional measures transactions costs and the total expenditure of agents when they optimize individually. Price determination is directly related to a gradient search. The general equilibrium is shown to be stable in the sense of Lyapunov if price adjustments can be large, when needed. The conditional stability could be one reason for volatility clustering in financial time series.

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Section: Discussionmentioning

confidence: 66%

General Equilibrium with Price Adjustments—A Dynamic Programming Approach

Lindgren¹

2022

Analytics

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“…Whereas, Jaiyeoba et al (2018) revealed that the influence of emotional and psychological biases affected the investment decision process while making portfolios among Malaysian fund managers. Ran et al (2019) found that the nation's monetary policy directly influenced the pattern of return from the stock market. Similarly, Dang et al (2020) also found that the decision announced through monetary policy directly influenced the investment pattern of an individual investor.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Whereas, Jaiyeoba et al (2018) found that psychological bias and emotion play a vital role in the decision-making process after a study among Malaysian fund managers to reveal the investment decision process while making their portfolios. Ran et al (2019) found that the monetary policy of the nation directly influences the return pattern of the stock market. Similarly, Dang et al (2020) found that the decision announced through monetary policy directly influences the investment pattern of an individual investor.…”

Section: Research Issuesmentioning

confidence: 99%

“…Mainly, the announcement of provisions for margin lending has been influencing the fluctuations in NEPSE. Ran et al (2019) found that the announcement of monetary policy directly influences the return pattern of the stock market. Dang et al (2020) found that the monetary policy issued by the central bank directly influences the investment decision of an investor.…”

Section: Maybe When the Market Is Loaded With Large Transaction Volum...mentioning

confidence: 99%

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Opinion on Distribution Nature of NEPSE Return: A Qualitative Analysis

Vaidya

Sharma

Dangol

2023

SSS

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The paper conducted a qualitative analysis among the Nepalese econophysicist-cum-investors regarding the opinions on the investment environment of the Nepalese stock market (NEPSE) and the challenges they have been facing while going for an investment decision. The paper has also gotten opinions on the screening process from the NEPSE from the interviewees and their opinion on the distribution nature of the return from the market. The paper followed the grounded theory to come with certain theories from the opinions. The paper found that the strong fundamentals of the listed companies were a concern for the interviewees. Similarly, wrong information and trading procedures were seen as concerns among interviewees. The paper found from interviews that the published financial reports of the listed companies helped in screening the shares to make a better portfolio among the Nepalese econophysicist-cum-investors. Finally, in the context of the distribution nature of NEPSE return, most interviewees viewed that the return follows the normal distribution. The interviewees viewed that the market return follows the power-law when the bull-run continues, backed by the extreme magnitude of trade volume as well as the perfect political and economic condition of the nation. They also linked the nature of return distribution with the behavioral factors of the investment decision process.

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“…If the specific transaction unit price of the product is not published, the national drug control platform will not reflect it, so other provinces can not refer to it. Therefore, the price of other provinces will not be affected in the short term, and at least the concerns and concerns of manufacturers about price linkage can be eliminated temporarily [8][9].…”

Section: Optimization Suggestions For Vpmentioning

confidence: 99%

Drug Market with Volume Purchase(VP)

2022

IJFS

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The new round of medical and health system reform launched in China takes "drug reform" first, and is committed to breaking the mechanism of "supporting doctors with drugs" and alleviating the problem of "difficult and expensive medical treatment". For more than ten years since the implementation of centralized drug procurement, the effect of controlling medical expenses is not significant. The phenomenon of falsely high drug prices still exists, and medical expenses continue to rise. The reason is that there are some problems in centralized drug procurement, such as imperfect laws and regulations, dislocation of procurement subjects, separation of bidding and procurement, and non linkage between quantity and price. Therefore, it is imperative to reform the method of drug procurement. Based on this, this paper discusses and analyzes the impact of volume procurement on the drug market, and puts forward corresponding optimization suggestions. Through investigation and interview with relevant government departments, medical institutions, drug enterprises and their relevant personnel, this paper investigates the comparison of bid winning prices and price reduction before and after the implementation of volume procurement policy in a city, as well as the division statistics of area a and B of the second batch of volume procurement. The results show that, Compared with the previous round, the bid price of the three batches of drugs purchased in the city decreased by an average of 56%, while the average decrease of the third batch of drugs purchased in the city was only 43%, which was significantly narrowed compared with the first two batches. The highest single product decreased by 93% and the lowest by only 2%. There were great individual differences in drugs;The second batch of two districts with volume procurement in the city calculate the quantity of agreed procurement targets respectively, and the bidding drug manufacturers will conduct bidding respectively to reduce the possibility of exclusive bid winning, one dominating the market and maliciously excluding other products. The VP mode has positive significance both in theory and practice.

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The Influence of Trading Volume, Market Trend, and Monetary Policy on Characteristics of the Chinese Stock Exchange: An Econophysics Perspective

Cited by 4 publications

References 20 publications

General Equilibrium with Price Adjustments—A Dynamic Programming Approach

General Equilibrium with Price Adjustments—A Dynamic Programming Approach

Opinion on Distribution Nature of NEPSE Return: A Qualitative Analysis

Drug Market with Volume Purchase(VP)

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