The stronger the level of economic integration between countries, the greater the need to study the formation patterns of the stock market reaction to the financial information signals. This concerns the Ukrainian stock market, which is now in its infancy, and which reaction to financial information signals is sometimes ambiguous. The research aims to identify the formation patterns of return and volatility indicators of the Ukrainian stock market reaction to the US financial information signals. To assess the direct nature of US financial information signals effect on the PFTS stock index, the GARCH econometric modeling toolkit was applied. The research information base is the PFTS stock index and the Federal Reserve System financial information signals at the discount rate for 2000–2019. The fetch is divided into intervals corresponded to the ascent and decline phases of the financial cycle. It was found that an unforeseen increase in the discount rate at the financial cycle decline phase by 25 basis points decreases the PFTS stock index return, on average by 2.9%. Besides, the hypothesis about the general change stabilizing effect in the discount rate on the Ukrainian stock market volatility at the financial cycle growth phase was confirmed. Nevertheless, for investors, the most essential is the regulator’s monetary signals in the discount rate at the financial cycle decline phases rather than at the ascent phases because there is a more significant increase in the volatility level.

/pdf/influence-of-monetary-information-signals-of-the-usa-on-the-4gjaxt7pc6.pdf

Influence of monetary information signals of the USA on the Ukrainian stock market

The study based on the available key principles of the circular economy functioning proposes a conceptual scheme of the circular economy ecosystem, which includes key elements such as the country’s population, investments, emissions, and GDP. The ecosystem also considers nine key principles of circular economy functioning, namely: refuse; reduce; reuse; repair; refurbish; remanufacture; repurpose; recycle; recover, which are integrated into functions and supported by them, namely: mining; production; consumption, service; reuse; processing; utilization, forming a chain of a closed cycle of usage of the raw materials, goods, and resources. The study also proposed a conceptual system-dynamic model of the circular economy ecosystem functioning, based precisely on its functions, presented in 7 blocks of the model. Each block covers the influence of circular economy principles on the model’s indicator elements. According to each block of functions, the authors offer opportunities to form new organizational structures that will support the viability of the circular economy concept, provide waste minimization, additional service and processing of goods and waste, and allow the closing of the cycle from extraction to disposal. Further research established the simulation experiments’ specifics and the opportunity to build the model blocks. 

Transformational Opportunities for Business Entities in the Circular Economy

The paper shows that the digital economy reveals a huge range of opportunities for various enterprises. It noted its strengths: costs reduction, increasing level of transactions’ security and transparency, and close focus on various sectors of the economy. In this regard, for a clear and definite understanding of the problems under consideration, the authors introduced the definition of the digital economy, digital technologies in the economy, and “end-to-end” digital technologies in the economy. The authors’ proposed approach allowed concluding that the digital economy term is distinguished by several subtleties associated with insufficient knowledge, understanding of technical implementation, and flexibility. The research aims at revealing the development features and principles of the main components of the digital economy: distributed ledger technology (blockchain) and real option technologies. The paper shows that blockchain technology, as a decentralized data ledger, is the most discussed and relevant topic in the development of the digital economy. The paper analyzed its strengths, such as cost reduction, increased security, and transaction transparency affecting various sectors of the economy. The conducted research reveals the essence of the main provisions of tactics and strategies when solving the problem of real options pricing. At the same time, paper presented a new classification of options contracts allowing determining the ways of their application and development. Whereas, the analysis of the problem of options contracts pricing demonstrated the relevance of new mathematical methods developed for their reliable and accurate evaluation. The paper demonstrates that, at present, interest in the concept and technique of real options application has significantly increased as they draw attention as a potentially essential tool for evaluation and improving an enterprise development strategy. 

http://eadnurt.diit.edu.ua:8080/jspui/bitstream/123456789/15786/1/Vazov%20.pdf

Development Features and Principles of Blockchain Technologies and Real Options as the Main Components of the Digital Economy

The study aims to conceptualize the temporal antifragility of high-frequency blockchain systems and identify the potential of microtransaction business models using Solana as an example. In contrast to the traditional understanding of antifragility as the ability of a system to improve under stress, the work focuses on the temporal dimension of this phenomenon, which represents a new approach to analyzing the resilience of decentralized systems. The relevance of the study is due to the increasing role of high-frequency interactions in the digital economy, where the speed of decision-making and adaptability are becoming critical success factors.The research methodology includes theoretical analysis and synthesis, comparative analysis of blockchain platforms, case studies of microtransaction models, and conceptual modeling. Based on the analysis of Solana technical documentation and scientific literature, four key mechanisms of temporal antifragility are identified: temporal stratification of consensus, a system of temporal cascades, fractal temporal organization, and microtemporal feedback loops. Such mechanisms work synergistically, creating a system capable of self-improvement under stress.The main results show that Solana enables instant adaptation to changes at the microsecond level thanks to its Proof of History mechanism and high throughput. A detailed typology of microtransaction business models is developed, including continuous micropayments, high-frequency arbitrage, microstaking, and microtemporal smart contracts. Such models become economically feasible due to extremely low transaction costs.The comparative analysis revealed fundamental differences between Solana's temporal antifragility and the institutional antifragility of traditional blockchains. The proposed conceptual model of temporal antifragility demonstrates how multi-level temporal organization allows the system not only to withstand stress loads, but also to improve under their influence. The results of the study open up new prospects for the creation of innovative entrepreneurial strategies that can use volatility and uncertainty as a source of competitive advantage in the digital economy, which has important theoretical and practical implications for the development of high-frequency business models. 

pdf/solana-as-a-high-frequency-governance-model-temporal-9s02vc91nbiz.pdf

Solana as a high-frequency governance model: temporal antifragility and microtransaction business models

The Ukrainian PFTS stock index volatility reaction as a whole and its constituent economic sectors (“Basic Materials”, “Financials”, “Industrials”, “Oil &amp; Gas”, “Telecommunications”, “Utilities”) to seven non-monetary US information signals (“Consumer price index”, “Personal spending”, “Unemployment rate”, “Gross domestic product”, “Industrial production”, “Consumer confidence”, “Housing starts”) was carried out for the period 2000–2017 on the basis of closing stock quotations in the trading day format. To assess the “surprise” component direct influence nature of the USA selected non-monetary information signals on the PFTS stock index, an AR-GARCH econometric modelling device was used. The results achieved clearly indicate the presence of some PFTS stock index economic sectors heterogeneous reaction to the United States individual non-monetary information signals announcement. For example, such economic sectors as “Basic Materials”, “Financials”, and “Oil &amp; Gas” volatility response to the US non-monetary information signal “Consumer price index” “surprise” components the opposite of the overall PFTS stock index reaction. It can also be concluded that the United States non-monetary information signals influence on the Ukrainian stock market volatility depends not only on the financial cycle phase and data frequency, but also on the PFTS stock index economic sector.

/pdf/influence-of-non-monetary-information-signals-of-the-usa-on-1wwp3b0hdb.pdf

Influence of non-monetary information signals of the USA on the Ukrainian stock market volatility

Handle everyday research tasks with reliable, citation-backed results

Your personal Research Agent to handle research tasks with citation-backed results

Popular Tasks used by Researchers

How can I help with your research?

Meet SciSpace

Get more enhanced response by uploading the PDFs you want me to reference.

No relevant PDFs in your library

SciSpace is the AI research assistant for academics. Run systematic literature reviews on 280M+ papers, and write papers with cited sources. Trusted by 1M+ students, PhDs & researchers.

SciSpace | AI for Research

Analyze PDFs

Code & Manuscripts

Funding & Grants

Literature & Patents

Medical & Clinical Data

Systematic Review

Visualize & Present

Web & Data

Build a Google Scholar-like website for your research.

Build a website

Create charts and images for your research

Create a Chart

Write a paper for submission to a journal

Draft a manuscript

Patent Search

Design eye-catching scientific posters in minutes.

Scientific Poster Generation

Systematic Literature Review

One task is running at the moment. Your messages will be shown right after.

Drag and drop or click here to browse

Loved by <highlight>1 million+</highlight> researchers

Extract a list of specific topics and their sources from unstructured text

Topics

Compare and analyze relevant papers that matches with your search

Papers

Get insights from PDFs and bookmarked papers from your library

My library

Recent searches

Try searching for:

Catch AI-generated content in scholarly and non-scholarly content

{ai} Detector

Ai Writer

Get PDF Summaries, highlighted text explanations 

Chat with PDF

Effortlessly create in-text citations and bibliographies in APA and 2,500 other formats

Citation generator

Get explanations, summaries, and answers on academic papers

Ease up your research workflow with {scispace}'s cohort of exciting AI tools

Elevate your academic writing skills and convey your ideas the way you want

Paraphraser

Explore our range of reading and writing tools

Your file is being prepared and should be ready in a few minutes. If it's a large file, it might take a bit longer. You can close this window, and we'll email you the file when it's done.

You have reached a maximum limit of <strong>{limit}</strong> columns in the table. Remove at least <strong>1</strong> column to add or create another one.

Anna Lemberg

Author Tools

Chat about Author

Papers

Influence of non-monetary information signals of the USA on the Ukrainian stock market volatility