Narrow Results

The purpose of this chapter is to analyze the real-time responses of stock prices, volume, and order submission behavior across investor groups to 2,894 on-air stock reports from 9:16 a.m. to 1:15 p.m. during regular trading hours from October 11, 2010 to December 31, 2010 in Taiwan. First, positive (negative) reports move stock prices upward (downward) in real time, accompanied by increasing trading volume. However, the observed price movements are short-lived and vanish 14 days afterward. Second, responding to the reports, individual investors trade more actively and aggressively than institutional investors do. The overreaction of individual investors are responsible for the observed price movements.

We express the volume of a simplex in spherical or hyperbolic spece by iterated integrals of differential forms following Schläfli and Aomoto. We study analytic properties of the volume function and describe the differential equation satisfied by this function.

We establish the second part of Milnor's conjecture on the volume of simplexes in hyperbolic and spherical spaces. A characterization of the closure of the space of the angle Gram matrices of simplexes is also obtained.

The first decade of the 2000's has seen remarkable progress in the theory of hyperbolic 3-manifolds. We report on some of these developments.

In this chapter, we propose and test several hypotheses concerning time series properties of trading volume, price, short, and long-term relationships between price and volume and the determinants of trading volume in foreign currency futures. The nearby contracts for British Pound, Canadian Dollar, Japanese Yen, German Mark, and Swiss Franc are analyzed in three frequencies i.e., daily, weekly, and monthly.

We find supportive evidence for all the five currencies that the price volatility is a determinant of the trading volume changes. Furthermore, the volatility of the price process is a determinant of the unexpected component of the changes in trading volume. Also, there is a significant relationship between the volatility of price and the volatility of trading volume changes for three of the five currencies in the daily frequency and for one currency in the monthly frequency.

In this chapter, we explore how long-run mean reversion in stock returns could have significant implication on the forecast or predictability of such returns.

The density of a body is the physical quantity that expresses the relationship between its mass and its volume. Considered in thermodynamics terms, the density of a body varies in proportion to changes in pressure and the temperature of the body. Considered in kinematic terms, according to Galilean-Newtonian mechanics, it is known that the density of a body does not change, because the mass and volume of a body do not depend on its velocity. This paper will examine the behavior of the density of a body in kinematic terms, according to the theory of special relativity (TSR). According to TSR, the mass and volume of a body vary depending on its velocity, giving rise to the question of the behavior of a body's density according to TSR. After a very simple theoretical analysis it is concluded that the density of a body (considered in kinematic terms) is an invariant quantity in relative motion even according to the TSR. The behavior of the density of bodies in relative motion is treated only marginally or not at all in the works and texts that address this theory.