The University of Buckingham Press Journals
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Revisiting the Balanced Book Hypothesis – Bettor Preferences and Results in the NFL
No full textData on betting percentages, both in terms of number of bets and actual money wagered, is still difficult to find. Sports Action Network, in their premium access service, does provide this data in terms of both number of bets and money bet. For the2020 NFL season, it was found that the balanced book could be rejected as bettors were shown to prefer road favorites, big favorites, and the over at the highest totals. Allowing this imbalance in the sides market appeared profitable for the book as the underdog won more often than implied by efficiency, while totals were evenly split
Holiday Effects in the US Equity Futures Markets
No full textWe investigate the holiday effect in US equity futures markets during three sub-periods 1993-2011, 1993-2020, and during the 2020 covid-19 year for small cap stocks measured by the Russell2000 and large cap stocks measured by the S&P500. All the days from -3 before the holiday to -1 had gains and for the large caps there were gains on +1 and +2. The effect is stronger for the small caps. The year 2020 had results similar to the longer series with positive gains. We show the various holidays by holiday day and observe that the -3 day had gains on all the holidays whereas the other days did not. The effect has diminished in the 1990s and 2000s and only the -3 day is statistically significant. The -3 day in the futures anticipates the cash move on -1 day
Pedagogy – It’s What We Do
Get PDFPedagogy is the defining feature of teacher professionalism. I am delighted to accept the invitation to write the editorial for this, the “Pedagogy Edition” of the Buckingham Journal of Education. As a career teacher turned teacher trainer, I have a deep interest in everything teachers do to bring about effective learning
BOOK REVIEW: Battle Hymn of the Tiger Teachers: the Michaela Way (2016). Katherine Burbalsingh (Ed)
No full textReviewed by Raphael Wilkin
The Impacts of a Smoking Ban on Gaming Volume in a South Korea Casino
No full textThe number of countries and cities implementing smoking bans has increased significantly over the last couple decades with smoking bans becoming more inclusive with less exemptions being given. Casinos though still have an exemption in most areas since there is uncertainty of the effect to gaming volume but there is a new call to action due to COVID-19. This study evaluates the long-term effects of a smoking ban in Kangwon Land Casino in South Korea. A time series ARIMA model for April 2003 to May 2013 was conducted to determine if the new smoking ban in public gaming areas significantly affected table games drop or slot coin-in, which are the two most common indicators of gaming volume for casinos. Results show that the smoking ban did not significantly impact table games drop or slot coin-in. The results of this study indicate that in the long-term a smoking ban in public areas does not significantly decrease gaming volume. These results add to the minimal studies on the long-term effects of a smoking ban while also being the first study to evaluate an Asian casino
Dividend Changes as Predictors of Future Profitability
No full textThis study investigates “the information content of dividends hypothesis” using data on UK firms from 1990-2015. Dividends act as an important conveyor of information. Dividend changes may trigger changes in stock prices because they may convey new information about the firm’s future earnings and profitability. Why do companies pay dividends (or analogously why are stockholders interested in receiving dividends), given that it is well known that dividends are often taxed heavily? This question is of special interest in the UK, where the dividend tax is higher than the capital gain tax. Previous research has used a number of dividend policy theories to explain the dividend policy puzzle. We carry out several estimations and find out that contrary to some other studies, there is no evidence that dividend increases (decreases) provide information about the future profitability or earnings of UK firms
COVID-19 and Two different Stock Markets: An Event Study Analysis
No full textIn this study, we examine two different stock markets’ response to the COVID-19 pandemic using event study methodology and a novel linear regression model. We use LSE (UK) as a proxy for the developed countries stock market and DSE (Bangladesh) as a proxy for the developing countries stock market. Using the daily COVID-19 confirmed cases and deaths and stock market returns data from these two countries (UK and Bangladesh) over the period November 01, 2020 to August 07, 2020. Our main research question was, which stock market suffered more during the COVID-19 pandemic, whether developed countries stock market or developing countries stock market. We find that developed countries stock markets (LSE as proxy) responded negatively to the growth in COVID-19 confirmed cases and deaths in COVID-19. We further find that developing countries stock markets (DSE as proxy) did not responded to the growth in COVID-19 confirmed cases and deaths in COVID-19
