Information asymmetry, trading volume and returns in the Malaysian stock market

This paper examines investors’ motive to trade on the Malaysian stock market from 1st July 1997 to 30th June 2005. By applying ordinary least square (OLS) to 272 stocks as well as in three size groups, both the time series and cross-sectional results indicate that speculation on firm specific asymmetric information is the primary motive to trade on Malaysian stock market for the full and two sub-sample periods. The results show that most of the investors in Malaysian stock market tend to speculate firm related information to maximize their profits. The findings of this study provide important implications to policy makers in addition to investors in this developing market. Proper management of foreign portfolio investment is crucial to prevent manipulative moves and excessive speculative forms of portfolio investments that may cause excessive surges of inflows and massive panic outflows of short-term capital and thus collapse the financial system and downturn economy

Pointwise Approximation Theorems for Combinations of Bernstein Polynomials With Inner Singularities

We give direct and inverse theorems for the weighted approximation of functions with inner singularities by combinations of Bernstein polynomials.Comment: 13 pages, late

Innermost stable circular orbits of charged spinning test particles

The effects of a paritcle's spin and electric charge on its angular momentum, energy and radius on the innermost stable circular orbit are investigated based on the particle's equations of motion in a background of the Kerr-Newmann spacetime. It is found that the particle's angular momentum and energy have monotonous relationships with not only its spin but also its charge; it is also discovered that the spinning particle's radius may change non-monotonously with its charge. Hence, our result remarkably indicates that particles owning identical spin but different charge may degenerate into a same last stable circular orbit.Comment: 6 page