https://www.um.edu.mt/library/oar/handle/123456789/70588 2026-07-04T23:30:50Z 2026-07-04T23:30:50Z Filipe, José António https://www.um.edu.mt/library/oar/handle/123456789/70873 2021-03-10T08:55:23Z 2014-01-01T00:00:00Z

Title: Editorial note “Applied Financial Research”. Financial markets - a need for reflection Authors: Filipe, José António Abstract: Financial markets are nowadays significantly discussed and marked for fast changes on short term trends, which are depending on multiple factors that in current times are very active in the markets, whichever they are, in the area under analysis, i.e. the financial area. Presently, many troubles happen systematically in the markets, demanding for a broad discussion and a large debate in the most different fora. The financial markets bases have been questioned by academicians; and politicians are systematically confronted with new facts and they look lost in front of the changing reality resulting from often inadequate measures and mistaken economic politics. Theoretical foundations on finance and mainstream approaches are often away from reality and new paradigms seem to be necessary. In this number, methodologies are presented and a debate around trends and adequacies is explored, with approaches looking for attempts of getting solutions for financial problems and to explain the financial markets as much as proposing information and guidelines for investors and for decision makers in general.

2014-01-01T00:00:00Z Bilgin Kılıç, Süleyman Paksoy, Semin Genç, Tolga https://www.um.edu.mt/library/oar/handle/123456789/70872 2021-03-10T08:54:35Z 2014-01-01T00:00:00Z

Title: Forecasting the direction of BIST 100 returns with artificial neural network models Authors: Bilgin Kılıç, Süleyman; Paksoy, Semin; Genç, Tolga Abstract: In this paper, Artificial Neural Networks (ANN) models are used to forecast the direction of Borsa Istanbul 100 (BIST100) index returns. Weekly time-lagged values of exchange rate returns, gold price returns and interest rate returns are used as inputs to ANN models in the training process. Results of the study showed that BIST100 index returns follow a specific pattern in time. Estimated ANN models provide valuable information to the investors and that BIST100 stock market is not fully informational efficient.

2014-01-01T00:00:00Z Varela Pinto, Rodolfo Borges, Maria Rosa https://www.um.edu.mt/library/oar/handle/123456789/70871 2021-03-10T08:53:55Z 2014-01-01T00:00:00Z

Title: The banking crisis of 2007-2008, and contemporary responses Authors: Varela Pinto, Rodolfo; Borges, Maria Rosa Abstract: Until 2006, the financial system prospered and was stable, and Basel II rules were viewed as contributing to that stability. The financial crisis of 2007-2008 forced a change in those beliefs, as imbalances spread and risks materialized, affecting banks and other financial institutions, and impairing economic growth. We discuss the causes of the financial crisis, the response measures that were applied by governments, central banks and the changes in supervision and regulation that are being prepared under Basel III, to increase the resilience of banks, and to reduce the risks of future crisis.

2014-01-01T00:00:00Z Bentes, Sónia Ferreira, Nuno https://www.um.edu.mt/library/oar/handle/123456789/70870 2021-04-19T13:52:03Z 2014-01-01T00:00:00Z

Title: Modeling long memory in the EU stock market : evidence from the STOXX 50 returns Authors: Bentes, Sónia; Ferreira, Nuno Abstract: This paper examines the persistence behaviour of STOXX 50 returns. To this end, we estimated the GARCH, IGARCH and FIGARCH models based on a data set comprising the daily returns from January 5th, 1987 to December 27th, 2013. The results show that the long-memory in the volatility returns constitutes an intrinsic and empirically significant characteristic of the data and are, therefore, in consonance with previous evidence on the subject. Moreover, our findings reveal that the FIGARCH is the best model to capture linear dependence in the conditional variance of the STOXX 50 returns as given by the information criteria.

2014-01-01T00:00:00Z