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Asymmetric information, where one party has more or worse information than another, significantly impacts financial markets. This study examines how information asymmetry shapes investment strategies and its implications for financial market stability. We explore the theoretical underpinnings of asymmetric information using Principal-Agent Theory and the Efficient Market Hypothesis (EMH). The empirical analysis, using secondary data from 2000-2020, reveals a positive correlation between asymmetric information and market instability, while market liquidity has a negative correlation. The findings highlight the importance of mitigating information asymmetry to promote stable financial markets. Policy recommendations include stricter disclosure requirements, investment in transparency technologies, and investor education programs.

Full economic independence of business structures places special requirements on the financial management quality. Its main task is to ensure self-sufficiency and self-financing as the basis for liquidity and market stability of the business. Taking into account the role of agro- industrial enterprises in the socio-economic development of the region and the specifics of the organization of their activities, coordination of the actions of the state, as the owner of the land, and its lessees in this process is of parti- cular importance. By leasing the most important resource, the goals of the state should be the following: preservation of soil fertility, its effec- tive use, compliance with the optimal structure of crop rotation, ensuring employment of eco- nomically active rural population, ensuring food security in the region, price stability for a socially significant range of food products, and ensuring socio-economic development in general. The article examines the activities of one of the leading agricultural organizations in the region. Its liquidity and market stability were determined, factors that had a negative impact on its activities as a whole were identified.

As China progresses with its electricity market reforms in pursuit of “carbon peak and carbon neutrality” objectives, the increasing integration of renewable energy sources introduces new risks and uncertainties, necessitating the development of an efficient electricity financial market. This paper outlines the fundamental principles of electricity financial derivatives, assesses their applicability to the Chinese market through an analysis of international experiences from the United States, Nordic countries, and Australia, and highlights critical issues for the construction of a robust market framework. It offers strategic recommendations regarding the structural and developmental aspects of China’s electricity financial market and proposes derivative instruments tailored to China’s market to improve liquidity and risk management mechanisms, thereby facilitating the renewable energy transition. The study demonstrates that these derivatives are instrumental in mitigating price volatility, managing transmission congestion, and supporting the shift to renewable energy. This provides a pragmatic approach for the reform and advancement of China’s electricity financial market, aligning with global strategies and addressing the unique challenges of China’s energy transition.

In this paper, we present a model detailing the benefits of two competing firms in a duopoly market, where profit maximization is linked to their production levels using the Cournot method. Our primary objective is to develop a collaborative strategy within the framework of open innovation to optimize their profits. Furthermore, we analyze how these firms can integrate an additional source of revenue in the form of intellectual property, without negatively impacting their open innovation strategies. To achieve this, we conducted a dynamic study of these strategies by introducing this intellectual property, to assess the impact of its components, such as patent licensing fees and royalties, on the equilibrium of strategies adopted by these firms. Our aim is to provide recommendations for optimal management of this intellectual property, thus enabling firms to fully leverage its benefits while preserving their competitive position in the market.

Today, energy sustainability, which is one of the most significant concerns in the energy industry, is of utmost importance. In this context, investments and interest in renewable energy sources are growing. As a nation with vast wind energy potential, Türkiye is at the forefront of expanding investments in this sector. This study highlights the significance of wind power plants in electricity market and the relevance of wind energy forecasts, as well as the significance of ensuring the imbalance in energy supply and enhancing electricity market stability. Parallel to this, the transient system simulation (TRNSYS) model was used to determine annual energy generation of a wind power plant in Izmir with a capacity of 18 MW, and the obtained results were compared with the real-time generation data from EPİAŞ transparency platform. The model had two approaches, one based on standard data from the second generation of a typical meteorological year (Plan (1)), and the other on actual field data collected in the plant (Plan (2)). The numerical findings indicate that the annual energy generation values for Plan (1) and Plan (2) are 24,018.1 MWh and 61,699.1 MWh, respectively. Additionally, the real-time production yields a total of 60,176.2 MWh. In a meantime, Plan (1) generated a positive imbalance value of 45,726.7 MWh, whereas Plan (2) has 6,651.3 MWh over the course of one year. In contrast, the annual sum of negative imbalance values was determined to be 9,475.9 MWh for Plan (1) and 8,368.6 MWh for Plan (2). The analysis yielded annual figures of 2,379,110.4 TL and 351,318.3 TL for positive and negative imbalance penalties, respectively, for Plan (1). For Plan (2), the corresponding amounts were 310,875.9 TL and 337,186.4 TL. Consequently, the total penalty payments for Plan (1) amounted to 2,730,428.8 TL, while for Plan (2) it reached 648,062.3 TL. [ABSTRACT FROM AUTHOR]

ESG performance reflects corporate social responsibility, while financial market stability shows the dynamic changes of enterprises, and exploring the relationship between the two is of great significance to optimize the structure of financial market stability. In this paper, on the basis of combining the mechanisms of ESG performance and financial market stability, brand value is introduced as a mediating effect to analyze the mechanism of ESG performance on financial market stability and relevant research hypotheses are designed. The appropriate research model is established with 30 commercial banks in China as the research object through the use of a multiple linear regression model with weighted least squares estimation for parameter estimation. For the impact of ESG performance on financial market stability, empirical analysis is carried out using benchmark regression, mediation effect test, heterogeneity test, and robustness test. Every 1% increase in the ESG composite score of financial institutions increases financial market stability by 0.179%, and only the social dimension of ESG performance is significant for financial market stability. High-cost and small-sized financial institutions are more capable of lowering financial market risk, and the difference in the Beta value of ESG performance of financial institutions between the highest and lowest groups is 1.067, which is significant at the 1% level. Financial enterprises need to pay full attention to the contribution of ESG performance to the stability of the financial market in order to support the enhancement of their economic efficiency and the maintenance of stable and healthy development of the market.

The spatial data infrastructures (SDIs) which constitute a direct link between spatial data users and the large Earth observation industry, have a leading role in establishing market opportunities in the space sector. The spatial information supplied through various forms of SDI platforms exhibits large increases in demand volatility. The users' demand is unpredictable and the market is vulnerable to high evolution shifts. We study the effect of extreme demands for a particular type of spatial information, the satellite images. Drawing on two French SDIs, GEOSUD and PEPS, we examine the shifts occurring on their platforms and assess the probability of witnessing a spike/drop in the short term of different satellite imagery schemes: the high resolution images through GEOSUD; the Landsat (U.S.), Sentinel (Europe) and SPOT (France) images through PEPS. We analyze the market stability through the two SDIs and evaluate the probability of future records by using the Records theory. The results show that the high resolution images demand through GEOSUD, for which the classical i.i.d. model fits the most, is stable. Moreover, the Yang-Nevzorov model fits to the Landsat data, due to more records concentrated beyond the first observations. The Landsat demand is the less stable out of the other three satellite images series, and the probability of having a record in the coming years is the highest. While the use of Records theory drops mathematical constraints, it offers an alternative solution to the non-applicability of the machine learning techniques and long-term memory models.

Market stabilization is a critical regulatory challenge for the private insurance component of the Affordable Care Act (ACA). Initially ACA market instability was due largely to the actuarial uncertainty associated with new market conditions for which good actuarial data were lacking. Then, in 2017, just as actuarial uncertainty was abating, political uncertainty came into play, reactivating and compounding actuarial uncertainty. Agreement is widespread that some stabilization measures are needed to improve the functioning of the ACA’s market reforms. Based on documentary research at a national level and in-depth case studies in ten states, this study examines the role actuarial and political uncertainty have played in creating unstable market conditions and explores what measures state and federal lawmakers could take to improve market conditions.