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The Relationship Between Art Fairs and the Internationalization of the Brazilian Contemporary Art Market
Ana Paula Moreno,
Katya Hochleitner
Issue:
Volume 12, Issue 2, April 2023
Pages:
46-53
Received:
17 January 2023
Accepted:
21 February 2023
Published:
9 March 2023
Abstract: The objective of this article is to observe possible relationships between the occurrence of international art fairs and the exports of Brazilian artworks from the years 2010 to 2021, with special consideration to SP-Arte, the Brazilian international art fair held every year in São Paulo City, Brazil, since 2005. In order to achieve our objective, we, first, briefly review the historical process of Brazilian art internationalization and the role of art fairs in it. Then, we examine data from the 2018 report from the Brazilian Association of Contemporary Art, that is, the Brazilian association for art galleries in the primary art market. Next, we analyze data on Brazilian artwork exports, extracted from the website of the Brazilian Ministry of Industry, Foreign Trade and Services (MDIC). The third source of investigation is a set of websites from art fairs and art galleries, where we captured data on the participation of Brazilian art galleries in selected international art fairs, from 2010 to 2022. Finally, we compare the historical data of the three data sources to identify possible relationships between the presence of Brazilian art galleries in international art fairs and the value of Brazilian art exports, as export peaks and certain art fairs could occur at the same time.
Abstract: The objective of this article is to observe possible relationships between the occurrence of international art fairs and the exports of Brazilian artworks from the years 2010 to 2021, with special consideration to SP-Arte, the Brazilian international art fair held every year in São Paulo City, Brazil, since 2005. In order to achieve our objective, ...
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Application of Statistical Inference Using Entropy to Characterize the Transfer of Data Across Financial Systems
Issue:
Volume 12, Issue 2, April 2023
Pages:
54-60
Received:
4 February 2023
Accepted:
27 February 2023
Published:
9 March 2023
Abstract: This paper explores the application of statistical inference using entropy to characterize the transfer of data across financial systems. The transfer of data between financial systems is a critical process that affects the accuracy and reliability of financial information. In this study, we propose a new approach to quantify the amount of information transferred between two financial systems based on entropy measures. Specifically, we use Transfer entropy to measure the information content of data transferred between financial systems. The Kullback-Leibler separation of conditional probabilities is a design statistic known as Transfer entropy. This method enables the determination, measurement, and testing of information transmission without being limited to linear movements. We demonstrate the effectiveness of our approach by analyzing using this empirical technique, the importance of the borrowing exchange industry in comparison to the exchanges for debt securities. In addition to this, this paper investigates the greater connectivity that exists among operational risks, as represented, respectively, by iTraxx and VIX Europe. We show that our entropy-based approach can detect changes in the information content of data transferred between the two exchanges, which can be indicative of changes in market conditions or the behavior of market participants. Overall, this study highlights the potential of entropy-based statistical inference methods for characterizing the transfer of data across financial systems. This approach has the potential to provide valuable insights into the behavior of financial markets and the efficiency of financial systems, which can inform policy decisions and improve the accuracy and reliability of financial information.
Abstract: This paper explores the application of statistical inference using entropy to characterize the transfer of data across financial systems. The transfer of data between financial systems is a critical process that affects the accuracy and reliability of financial information. In this study, we propose a new approach to quantify the amount of informat...
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Financial Performance and Earnings Per Share of Consumer Goods Manufacturing Companies Quoted in Nigeria
Onyeka-Iheme,
Chimeruo Victory
Issue:
Volume 12, Issue 2, April 2023
Pages:
61-67
Received:
2 April 2023
Accepted:
18 April 2023
Published:
27 April 2023
Abstract: Positive and continuous growth in Earnings per Share (EPS) has always been the desire of every investor, especially equity investors, and in measuring it, Financial Performance (FP) has been viewed to have a great impact on EPS, thus the aim is to examine the impact if any and to what extent that financial performance has on EPS. The adopted research design for this study was Ex-post facto with the objective of examining the effect of FP on EPS of Consumer Goods Manufacturing Companies (CGMC) Quoted in Nigeria. The population used for this study comprises 12 CGMC quoted on the Nigeria Exchange Group (NGX) as of April 30, 2021, while the size of the sample was purposely selected. The audited annual reports provided the data used for the companies that were sampled for the given period of 11 years (2009 – 2019). The data relied on the fact that the financial statements statutory audit in the annual report has been audited, guaranteeing its validity and reliability. The data were analyzed using descriptive and inferential statistical tools. The outcome of the test showed that the effect of ROA on EPS is positive and significant but ROE, on the other hand, has an insignificantly negative effect on the EPS of CGMC Quoted in Nigeria with a probability outcome of 0.0015 and 0.9487 respectively. The results of the test attest to these and are as follows: R2 = 0.077411, Adj.R2 = 0.063107 and F-Statistics = 5.411958, and P-value of 0.005534. The Study concluded that FP has both positively significant and negatively insignificant effects on the EPS of CGMC Quoted in Nigeria. The recommendation of this study is that equity investors and financial analysts should look beyond FP in taking their investment decisions.
Abstract: Positive and continuous growth in Earnings per Share (EPS) has always been the desire of every investor, especially equity investors, and in measuring it, Financial Performance (FP) has been viewed to have a great impact on EPS, thus the aim is to examine the impact if any and to what extent that financial performance has on EPS. The adopted resear...
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