Search

The pairs trading strategy is a popular method for trading financial assets. One of the reasons for such popularity is that the result of this type of operation depends solely on the relationship between the price of two assets, and not on the overall market condition. The possibility of spotting inefficiencies in assets pricing is what allows the investor to make consistent profits using a systematic method for trading financial contracts. Based on the opening of a long and short position, this statistical arbitrage strategy seeks to profit when the prices of both assets converge to their historical behavior. The objective of this paper is to analyze the performance of the pairs trading strategy for different frequencies of data in the Brazilian Stock Market. The study was based on Perlin (2009), which shows that market inefficiencies are higher for stock data sampled in higher frequency, in this case daily, weekly and monthly. The present research extends the range of frequencies to the intraday universe with stock prices sampled at 1, 5, 15, 30 and 60 minutes and daily. The period of the database starts from 1st January 2008 until 31st December 2011. The selection of stocks comprises the twenty assets with the highest number of contracts negotiated in the period. The methodology employed in this research uses training periods and periods of technical negotiations. In the training period, the selection of pairs for each stock is based on the lowest quadratic variation of their normalized prices. In the trading period, the strategy checks the performance of the previously defined trades. The results of the study, which compared the Sharpe ratios of the pairs trading strategy for the different frequency of the data, confirm the primary hypothesis that the higher sampling frequency, the higher evidence of market inefficiency. [ABSTRACT FROM AUTHOR]

Several types of announcements exist, some are of goods, of ideas and, finally, of services. Being more specific, ad emphasizing services is less used than ad with focus in goods. The present article tests six hypotheses in relation to the comparison of the ad contents with focus business-to-business and business-to-consumer. In the same way, it is also verified the existence of different target in the content elaboration. The seven variables were: announcement type, appeal, headline, quality, price, segmentation and electronic address. The data were obtained from 34 business magazines published in Brazil, totaling a sample of 812 ad; which 29% were to services business-to-business and 71% focus business-to-consumer. The results demonstrated the rejection of just one hypothesis, reinforcing the idea certain characteristics that ad business-to-business possesses. Additional comments and study contributions conclude the article. [ABSTRACT FROM AUTHOR]

Understanding the dynamics of the adoption of new technologies by consumers is becoming increasingly important, given the speed at which innovations emerge. For the marketing area, new challenges arise because the technological advance may create different product-user profiles, implying the need to implement new mechanisms in order to touch consumers. Considering word-of-mouth marketing within a context of social networks, this paper seeks to assess the diffusion of the use of new technologies. Using stochastic modeling, populations are computer-simulated with different degrees of connection in social networks, and the evolution of the proportion of users of a new technology is estimated. The use of stochastic modeling allows the analysis of complex phenomena that would be difficult to assess empirically due to the problems relating to the creation of constructs, the gathering of data, the adjustment of estimates of parameters to the realities of new technologies, and the limitations of statistical tools. The results of the model suggest that the strengthening of links between individuals, as well as the implementation of marketing programs that exploit the interactions in social networks, constitute important strategies for increasing the speed of diffusion of technologies. [ABSTRACT FROM AUTHOR]

The inner communication is a wide area of studies discussed both in the academic and organizational environment since it refers to a potential factor responsible for the optimization of the various organizational processes. The development of new products can be pointed out as an example of these processes. Either directly or indirectly, the inner communication realized among the sectors involved in developing new products may impact the outcomes organization. Thus, this work aims at analyzing, through theoretical research and case studies carried out in a national furnishing company, the cross-functional processes of marketing and production in the development of new products and their results for the company. The found results ratify the importance of inner communication and emphasize that different way of communication bring different consequences for the company. [ABSTRACT FROM AUTHOR]