The detection of fraud activities on the stock market through forward analysis methodology of financial discussion boards

Financial discussion boards (FDBs) have been widely used for a variety of financial knowledge exchange activities through the posting of comments on the FDBs. Popular public FDBs are prone to be used as a medium to spread false financial information due to having a larger group of audiences. Although online forums, in general, are usually integrated with anti-spam tools such as Akismet, moderation of posted contents heavily relies on human moderators. Unfortunately, popular FDBs attract many comments per day which realistically prevents human moderators from continuously monitoring and moderating possibly fraudulent contents. Such manual moderation can be extremely time-consuming. Moreover, due to the absence of useful tools, no relevant authorities are actively monitoring and handling potential financial crimes on FDBs. This paper presents a novel forward analysis methodology implemented in an Information Extraction (IE) prototype system named FDBs Miner (FDBM). This methodology aims to detect potentially illegal comments on FDBs while integrating share prices in the detection process as this helps to categorise the potentially illegal comments into different risk levels for investigation priority. The IE prototype system will first extract the public comments and per minute share prices from FDBs for the selected listed companies on London Stock Exchange (LSE). In the forward analysis process, the comments are flagged using a predefined Pump and Dump financial crime related keyword template. By only flagging the comments against the keyword template yields an average of 9.82% potentially illegal comments. It is unrealistic and unaffordable for human moderators to read these comments on a daily basis in long run. Hence, by integrating the share prices’ hikes and falls to categorise the flagged comments based on risk levels, it saves time and allows relevant authorities to prioritise and investigate into the higher risk flagged comments as it can potentially indicate real Pump and Dump crimes on FDBs

The humanistic roots of Islamic administration and leadership for education : philosophical foundations for cross-cultural and transcultural teaching

For a number of decades, a humanistic approach has been a minor but persistent one in the Western field of administrative and leadership studies, and only recently has been broadening to include other humanist traditions (Dierksmeier et al., 2011) and has yet to be fully explored in educational administration and its pedagogy and curriculum although some foundational work has been done (e.g., Samier, 2005). The focus in this chapter is on the Islamic humanist tradition as it relates to the teaching of educational administration and leadership in a Muslim context, with implications for cross-cultural and transcultural use. The second purpose of the chapter is to show the correspondences that exist between the Islamic and Western humanist traditions in terms of human values, knowledge and educational ideal, which in this chapter are argued to be close to the Western Idealist tradition and the German Bildung conception of education as well as the strong interpretive and hermeneutic foundations that originated in the Islamic tradition and which influenced the foundations of many relevant European schools of thought, particularly in the Enlightenment.The initial section of the chapter is a comparative examination of the central principles of the Islamic humanist tradition from the classical through to contemporary times with the Western humanist tradition as they relate to conceptions of the good, ethics, the construction of meaning and a set of higher order values predicated upon human dignity, integrity, empathy, well-being, and the public good (Goodman, 2003) covering a number of important scholars like Al Farabi, al Isfanhani, and Edward Said (e.g., Kraemer, 1986). In both, professions are viewed as meaningful work that allow for large measures of decision making, and are grounded in human qualities and needs including autonomy, freedom and emancipation balanced with responsibilities, obligations and duties to society. These are compared with the corresponding principles of knowledge in Western humanism which includes a strong constructivist view of reality (Makdisi, 1990). Secondly, the chapter examines the principles of good or ideal leadership and administration that humanism aims at in its preparation of officials, including those in the educational sector in both the classical Islamic tradition (Hassi, 2012) and Western approaches to humanistic administration and leadership (Czarniawska-Joerges & Guillet de Monthoux, 1994; Gagliardi & Czarniawska, 2006; Leoussi, 2000). The third section focusses on close correspondences that exist between the Islamic (Afsaruddin, 2016; al-Attas, 1980; Yasin & Jani, 2013) and Western (Aloni, 2007; Veugelers, 2011) humanist education traditions in terms of educational ideal as well as the kind of teaching practices that distinguish these traditions (Daiber, 2013; Dossett, 2014) as they apply to educational administration and leadership (Greenfield & Ribbins, 1993). The chapter concludes with a discussion of how the Islamic humanist tradition can contribute to cross-cultural and transcultural graduate teaching in international educational administration (Khan & Amann, 2013)

Globalization, Roundaboutness, and Relative Wages

We depart from the trade and wages literature and its emphasis on North-South trade, examining North-North by developing the basic linkages between trade-based integration and relative wages in an Ethier-type division of labor model. Using this model we identify a formal relationship between international trade, productivity, and wages. We then examine the trivariate relationship between trade, growth in total factor productivity (TFP), and the skill premium in a vector autoregression framework. We find evidence of a long-run relationship between growth in intermediate goods and changes in TFP. Controlling for this relationship we also find a positive relationship between trade and the skill-premium

Social media, political uncertainty, and the stock market

This study proposes a new measure of firm-level uncertainty exposure around important political events. More specifically, we construct a degree of (dis)agreement among social media users who jointly mention firms and politicians. We study a sample of over 23 million tweets mentioning both a firm from the S&P 500 composite and ‘Trump’ from October 2016 to May 2017. We then analyze the relationship between the (dis)agreement measure and individual stock features. The results suggest that increased disagreement among such tweets is associated with heightened stock price volatility and trading volume. This link is observed before the US Presidential Inauguration in January 2017 but not afterwards. The finding is confirmed by further robustness checks based on filtered tweets with policy keywords and policy-sensitive industries

Twitter permeability to financial events: an experiment towards a model for sensing irregularities

There is a general consensus of the good sensing and novelty character- istics of Twitter as an information media for the complex fi nancial market. This paper investigates the permeability of Twitter sphere, the total universe of Twitter users and their habits, towards relevant events in the financial market. Analysis shows that a general purpose social media is permeable to fi nancial-specifi c events and establishes Twitter as a relevant feeder for taking decisions regarding the fi nancial market and event fraudulent activities in that market. However, the provenance of contributions, their diferent levels of credibility and quality and even the purpose or intention behind them should to be considered and carefully contemplated if Twitter is used as a single source for decision taking. With the overall aim of this research, to deploy an architecture for real-time monitoring of irregularities in the financial market, this paper conducts a series of experiments on the level of permeability and the permeable features of Twitter in the event of one of these irregularities. To be precise, Twitter data is collected concerning an event comprising of a specifi c financial action on the 27th January 2017: the announcement about the merge of two companies Tesco PLC and Booker Group PLC, listed in the main market of the London Stock Exchange (LSE), to create the UK's Leading Food Business. The experiment attempts to answer two research questions which aim to characterize the features of Twitter permeability to the fi nancial market. The experimental results con rm that a far-impacting financial event, such as the merger considered, caused apparent disturbances in all the features considered, that is, information volume, content and sentiment as well as geographical provenance. Analysis shows that despite, Twitter not being a specifi c fi nancial forum, it is permeable to financial events