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Market Transparency
In economics, a market is transparent if much is known by many about: What products and services or capital assets are available, market depth (quantity available), what price, and where. Transparency is important since it is one of the theoretical conditions required for a free market to be efficient. Price transparency can, however, lead to higher prices. For example, if it makes sellers reluctant to give steep discounts to certain buyers (e.g. disrupting price dispersion among buyers), or if it facilitates collusion, and price volatility is another concern. A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing. There are two types of price transparency: 1) I know what price will be charged to me, and 2) I know what price will be charged to you. The two types of price transparency have different implications for differential pricing. A transparent market should also provide necessary information about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Studies Of Finance
Social studies of finance is an interdisciplinary research area that combines perspectives from anthropology, economic sociology, science and technology studies, international political economy, behavioral finance, and cultural studies in the study of financial markets and financial instruments. Work in social studies of finance emphasizes the social and cultural dimensions of financial activities, but focuses also on technical and economic dimensions such as pricing and trading. History Financial markets have been an object for sociological inquiry since, at least, Max Weber’s '' Die Börse''. The rise of quantitative financial theory in financial economics from the 1950s onwards has led to an academic specialization on financial markets rather focused on economic modeling, and poorly attentive to sociological aspects. In the 1980s, a number of economic sociologists developed empirical investigation on the social structure and cultural characteristics of financial markets, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transparency (trade)
Transparency is a World Trade Organization principle stipulating that a country’s policies and regulations affecting foreign trade should be clearly communicated to its trading partners. For example, out of recognition that sanitary and phytosanitary measures may (sometimes deliberately) be unclear, arbitrary, or capricious, recent international trading agreements have provisions calling on countries to notify others, in advance, about any measures that could affect trade, to fully explain them, and to provide a means for commenting on them. The main provision dealing with transparency in WTO is Article X of GATT.https://www.csis.org/analysis/transparency-wto-why-does-transparency-matter-and-are-members-meeting-their-obligations Also see * Transparency (behavior) As an ethic that spans science, engineering, transparency (market), business, and the humanities, transparency is operating in such a way that it is easy for others to see what actions are performed. Transparency i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transfer Pricing
Transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been charged by unrelated enterprises dealing at arm’s length (the arm’s-length principle). The OECD and World Bank recommend intragroup pricing rules based on the arm’s-length principle, and 19 of the 20 members of the G20 have adopted similar measures through bilateral treaties and domestic legislation, regulations, or administrative practice.World Bank pp. 35-51 Countries with transfer pricing legislation generally follow th''OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations''in most respects, although their rules can differ on some important details. Where adopted, transfer pricing rules allow tax au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shell Corporation
A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. It may hold passive investments or be the registered owner of assets, such as intellectual property, or ships. Shell companies may be registered to the address of a company that provides a service setting up shell companies, and which may act as the agent for receipt of legal correspondence (such as an accountant or lawyer). The company may serve as a vehicle for business transactions without itself having any significant assets or operations. Shell companies are used for legitimate purposes but can be used for tax evasion, tax avoidance, money laundering, to dodge current or future lawsuits or to achi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Anomaly
A market anomaly in a financial market is predictability that seems to be inconsistent with (typically risk-based) theories of asset prices. Standard theories include the capital asset pricing model and the Fama-French Three Factor Model, but a lack of agreement among academics about the proper theory leads many to refer to anomalies without a reference to a benchmark theory (Daniel and Hirschleifer 2015 and Barberis 2018, for example). Indeed, many academics simply refer to anomalies as "return predictors", avoiding the problem of defining a benchmark theory. Academics have documented more than 150 return predictors (see '' List of Anomalies Documented in Academic Journals).'' These "anomalies", however, come with many caveats. Almost all documented anomalies focus on illiquid, small stocks. Moreover, the studies do not account for trading costs. As a result, many anomalies do not offer profits, despite the presence of predictability. Additionally, return predictability decl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Sugar Organization
The International Sugar Organization is an intergovernmental organization, based in London, which was established under international sugar agreement of 1968. Unlike its predecessors under pre-1968 versions of the International Sugar Agreement, it does not have the power to regulate the international sugar trade by price-setting or export quotas but seeks to promote the trade in and consumption of sugar by gathering and publishing information on the sugar market, research into new uses for sugar and related products and as a forum for intergovernmental discussions on sugar. As of June 2017, its membership consisted of 87 countries. History Since 1937, a series of temporary International agreements on Sugar attempted to regulate global demand and supply. Initially, an International Sugar Council was established, until the United Nations Conference on Trade and Development in 1968 recommended a more permanent arrangement through the International Sugar Organization. See also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information
Information is an Abstraction, abstract concept that refers to something which has the power Communication, to inform. At the most fundamental level, it pertains to the Interpretation (philosophy), interpretation (perhaps Interpretation (logic), formally) of that which may be sensed, or their abstractions. Any natural process that is not completely random and any observable pattern in any Media (communication), medium can be said to convey some amount of information. Whereas digital signals and other data use discrete Sign (semiotics), signs to convey information, other phenomena and artifacts such as analog signals, analogue signals, poems, pictures, music or other sounds, and current (fluid), currents convey information in a more continuous form. Information is not knowledge itself, but the meaning (philosophy), meaning that may be derived from a representation (mathematics), representation through interpretation. The concept of ''information'' is relevant or connected t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a Norwegian-based organization that seeks to establish a global standard for the good governance of oil, gas and mineral resources. It seeks to address the key governance issues in the extractive sectors. The EITI Standard requires information along the extractive industry value chain from the point of extraction, to how the revenue makes its way through the government and its contribution to the economy. This includes how licenses and contracts are allocated and registered, who the beneficial owners of those operations are, what the fiscal and legal arrangements are, how much is produced, how much is paid, where the revenue is allocated, and its contributions to the economy, including employment. The Extractive Industries Transparency Initiative#Impact of the EITI, EITI Standard is implemented in 55 countries around the world. Each of these countries is required to publish an annual EITI Report to disclosing informatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Efficient Market
The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted basis since market prices should only react to new information. Because the EMH is formulated in terms of risk adjustment, it only makes testable predictions when coupled with a particular model of risk. As a result, research in financial economics since at least the 1990s has focused on market anomalies, that is, deviations from specific models of risk. The idea that financial market returns are difficult to predict goes back to Bachelier, Mandelbrot, and Samuelson, but is closely associated with Eugene Fama, in part due to his influential 1970 review of the theoretical and empirical research. The EMH provides the basic logic for modern risk-based theories of asset prices, and frameworks such as consumption-based asset pricing and int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Protection
Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices to gain an advantage over competitors or to mislead consumers. They may also provide additional protection for the general public which may be impacted by a product (or its production) even when they are not the direct purchaser or consumer of that product. For example, government regulations may require businesses to disclose detailed information about their products—particularly in areas where public health or safety is an issue, such as with food or automobiles. Consumer protection is linked to the idea of consumer rights and to the formation of consumer organizations, which help consumers make better choices in the marketplace and pursue complaints against businesses. Entities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Organization
Consumer organizations are advocacy groups that seek to protect people from corporate abuse like unsafe products, predatory lending, false advertising, astroturfing and pollution. Consumer Organizations may operate via protests, litigation, Advertising campaign, campaigning, or lobbying. They may engage in single-issue advocacy (e.g., the United Kingdom, British Campaign for Real Ale (CAMRA), which campaigned against keg beer and for cask ale) or they may set themselves up as more general consumer List of consumer organizations, watchdogs, such as the Which?, Consumers' Association in the UK. One common means of providing consumers useful information is the independent comparative survey or test of products or services, involving different manufacturers or companies (e.g., ''Which?'', ''Consumer Reports'', etc.). Another arena where consumer organizations have operated is food safety. The needs for campaigning in this area are less easy to reconcile with their traditional methods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
