Digital Cyclical Ecological Regional Self-Sufficient Economy
Issue:
Volume 6, Issue 3, May 2020
Pages:
42-48
Received:
26 May 2020
Accepted:
5 June 2020
Published:
28 June 2020
Abstract: The economy is sphere of public work and the set of relations that form in the system of production, distribution, exchange and consumption. The paper examines the digital, cyclical, environmental and regional aspects of a cyclical digital environmental regional economy. The digital direction of the economy uses digital twins and robots as assistants to improve its quality, productivity and efficiency. The cyclical economy uses savings and profits to boost its competition and development. The environmental direction of the economy maintains the viability of the environment. The regional economy increases diversification and capacity of local production and preserves the environment in its territory regardless of the type of economic activity. Cyclical aspects of the economy of self-sufficiency mainly concern the financial round-up, and the closed reproduction cycle. Business models of cyclic reproduction realize its economic self-sufficiency. At present, Russia, China, the United States and EU integration education have achieved the optimal level of national economic self-sufficiency. Russia, the United States, and the EU have the necessary financial and human resources. At the same time, China, with excessive human resources, is pursuing a policy of expansion into developing and underdeveloped countries. The main reason for countries to abandon autarky policies in favor of globalization of research activities is the decline in profit levels. The reason for this situation lies in the availability of cheap labour and favourable economic conditions, and production in countries is therefore cheaper. The reason for globalization and the international division of labour lies in maximizing profits, and autarks in maximizing national production, i.e. self-sufficiency. The unity of the Autarky State must be ensured by the existence of economic, historical, cultural ties, as well as by national equilibrium.
Abstract: The economy is sphere of public work and the set of relations that form in the system of production, distribution, exchange and consumption. The paper examines the digital, cyclical, environmental and regional aspects of a cyclical digital environmental regional economy. The digital direction of the economy uses digital twins and robots as assistan...
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The Effect of Real Investors on the Inefficiency of Stock Returns of Tehran Stock Exchange
Mehran Ansari,
Hojat Jafari
Issue:
Volume 6, Issue 3, May 2020
Pages:
49-60
Received:
15 May 2020
Accepted:
1 June 2020
Published:
4 July 2020
Abstract: Fluctuations in stock returns and the factors that affect them are controversial in financial research. Institutional investors, as a group of investors, play an important role in the economic development of the capital market through their access to huge financial resources. But real investors may not be able to achieve the return and profitability due to the scarcity of their financial resources. Accordingly, the study of the role of real investors in the volatility of stock returns is very important. The present study aims to find evidence for the relationship between real investors in open volatility of ten stocks. Few studies of financial market irregularities and the behavior of capital market investors have focused on the results. By challenging the efficient market hypothesis, it is clear that real investors raise the stock price of companies that have been successful over time. The real price and the price of unsuccessful stocks are lower than the real price, but over time the market realizes its mistake and the prices return to equilibrium. Acceptance of stock returns is irregular (Tehran Stock Exchange). In order to achieve the research goal, ten-year information (2009-2019) of 140 companies by judicial sampling method was studied. This research is applied in terms of purpose and testing the hypotheses of logit and cross-sectional regression. Fama and French three-factor model and Carhart's four-factor model were used. The results indicate that the relationship between stock price jump and real investors has been explained and finally practical suggestions have been provided.
Abstract: Fluctuations in stock returns and the factors that affect them are controversial in financial research. Institutional investors, as a group of investors, play an important role in the economic development of the capital market through their access to huge financial resources. But real investors may not be able to achieve the return and profitabilit...
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