Policy impacts on Vietnam stock markets: a case of anomalies and disequilibria 2000-2006

Vietnam launched its first-ever stock market, named as Ho Chi Minh City Securities Trading Center (HSTC) on July 20, 2000. This is one of pioneering works on HSTC, which finds empirical evidences for the following: Anomalies of the HSTC stock returns through clusters of limit-hits, limit-hit sequences; Strong herd effect toward extreme positive returns of the market portfolio;The specification of ARMA-GARCH helps capture fairly well issues such as serial correlations and fat-tailed for the stabilized period. By using further information and policy dummy variables, it is justifiable that policy decisions on technicalities of trading can have influential impacts on the move of risk level, through conditional variance behaviors of HSTC stock returns. Policies on trading and disclosure practices have had profound impacts on Vietnam Stock Market (VSM). The over-using of policy tools can harm the market and investing mentality. Price limits become increasingly irrelevant and prevent the market from self-adjusting to equilibrium. These results on VSM have not been reported before in the literature on Vietnam’s financial markets. Given the policy implications, we suggest that the Vietnamese authorities re-think the use of price limit and give more freedom to market participants.

New empirical results on anomalies and herd behaviour: Vietnam stock market 2000-2004

info:eu-repo/semantics/published

Some new results on anomalies and herd behavior: Vietnam stock market

info:eu-repo/semantics/published

Lissage exponentiel et prévision adaptive du produit intérieur brut de la Belgique

info:eu-repo/semantics/published

Rapport d'évaluation du text interne

info:eu-repo/semantics/nonPublished

La préformation du germe dans la philosophie biologique du XVIIIe siècle

info:eu-repo/semantics/published

Des anguilles à la philosophie mécanique: deux réfutations peu connues du système de la Nature

info:eu-repo/semantics/published

Un extrait du Psaume 90 en copte. Édition de P.Duk. inv. 448

Publication d'un papyrus inédit de la collection de Duke University contenant un extrait du Psaume 90 en copte; le papyrus a probablement servi d'amulette

Recherches sur le monastère copte d'Apa Apollô (Baouît). L'organisation du monastère aux VIIe et VIIIe siècles

Présentation de l'organisation du monastère de Baouît, à travers notamment la documentation écrite.

Le cycle de l'enfance du Christ dans l'église rupestre de Saint-Jean Baptiste à Deir Abou Hennis

Publication des peintures et inscriptions des murs nord et est du narthex de l'église rupestre du Deir Abou Hennis

Deux inscriptions du temple d'Horus à Edfou

Edition d'un proscynème grec inédit (époque impériale) et réédition d'une inscription copte, déjà publiée comme un texte grec (I.Lefebvre 551).

La création des Biennales de poésie de Knokke en 1952 ou l’ascension tranquille du Journal des Poètes sur la scène littéraire internationale

info:eu-repo/semantics/published

Alpha-fetoprotein controls female fertility and prenatal development of the gonadotropin-releasing hormone pathway through an antiestrogenic action

It has been shown previously that female mice homozygous for an alpha-fetoprotein (AFP) null allele are sterile as a result of anovulation, probably due to a defect in the hypothalamic-pituitary axis. Here we show that these female mice exhibit specific anomalies in the expression of numerous genes in the pituitary, including genes involved in the gonadotropin-releasing hormone pathway, which are underexpressed. In the hypothalamus, the gonadotropin-releasing hormone gene, Gnrh1, was also found to be down-regulated. However, pituitary gene expression could be normalized and fertility could be rescued by blocking prenatal estrogen synthesis using an aromatase inhibitor. These results show that AFP protects the developing female brain from the adverse effects of prenatal estrogen exposure and clarify a long-running debate on the role of this fetal protein in brain sexual differentiation.

La Critique de la raison dialectique: du besoin au besoin, circulairement

Paris

La lutte du maître et de l’esclave dans Cahiers pour une morale et Critique de la raison dialectique

Paris