Effects of Option Characteristics and Underlying Stock on Option BetaDharma Bagoes Oka
Beta (β) is one of the risk management tools to capture the risk exposures of hedge-fund investments. As most of hedge funds today trade derivative securities, the research on the measurement of derivative beta is important. The aim of this paper is to examine the factors, which may have impacts on option beta in the United States market. My hypothesis is comprised into three main parts. First, I hypothesize that 5 variables (type of option, strike price, days to maturity, firm size and book to market ratio) have linear relationship with the option beta. Second, I hypothesize that the strength of linear relationship is varied by the type of the industry. Third, I hypothesize that the strength of linear relationship is also varied by these 5 types of variables itself. To begin the process, I use regression method to estimate the beta of underlying stock. Then, I estimate the option beta by multiplying the beta of underlying stock and the option elasticity. I then use regression method to test whether the 5 variables have linear relationship with option beta. I find that 3 variables (type of option, strike price and days to maturity) have the most significant linear relationship with option beta, while firm size has less significant linear relationship and book to market ratio have no significant linear relationship. Furthermore, using 2-way ANOVA, I test whether strength of linear relationship is varied by the type of the industry and the 5 types of variables. There is not enough evidence to infer that the strength of linear relationship between the 5 variables to option beta is varied by the type of the industry, instead, there is enough evidence to infer that the strength of linear relationship between the 5 variables to option beta is varied by the type of variables.
Effects of Option Characteristics and Underlying Stock on Option BetaDharma Bagoes Oka
Beta (β) is one of the risk management tools to capture the risk exposures of hedge-fund investments. As most of hedge funds today trade derivative securities, the research on the measurement of derivative beta is important. The aim of this paper is to examine the factors, which may have impacts on option beta in the United States market. My hypothesis is comprised into three main parts. First, I hypothesize that 5 variables (type of option, strike price, days to maturity, firm size and book to market ratio) have linear relationship with the option beta. Second, I hypothesize that the strength of linear relationship is varied by the type of the industry. Third, I hypothesize that the strength of linear relationship is also varied by these 5 types of variables itself. To begin the process, I use regression method to estimate the beta of underlying stock. Then, I estimate the option beta by multiplying the beta of underlying stock and the option elasticity. I then use regression method to test whether the 5 variables have linear relationship with option beta. I find that 3 variables (type of option, strike price and days to maturity) have the most significant linear relationship with option beta, while firm size has less significant linear relationship and book to market ratio have no significant linear relationship. Furthermore, using 2-way ANOVA, I test whether strength of linear relationship is varied by the type of the industry and the 5 types of variables. There is not enough evidence to infer that the strength of linear relationship between the 5 variables to option beta is varied by the type of the industry, instead, there is enough evidence to infer that the strength of linear relationship between the 5 variables to option beta is varied by the type of variables.
Alkuperäinen aihepiiriin liittyvä puheenvuoro oli Ateria 2014 tapahtumassa 4.11.2014, jossa kohtasivat julkisen ruokapalvelun ja sopimusruokailun asiantuntijat eri puolilta Suomea. Sama teema oli mukana EcoCentrian elintarvikehankinta RoadShowssa keväällä 2015, jolloin kohderyhminä olivat päättäjät, hankinta-asiantuntijat, ruokapalveluhenkilöstö sekä tuottajat ja jalostajat.
A slide review of the article competing against free (HBR). This has been done in accordance with the requirements of the Brand Management course, MBA, IIM Lucknow
Alkuperäinen aihepiiriin liittyvä puheenvuoro oli Ateria 2014 tapahtumassa 4.11.2014, jossa kohtasivat julkisen ruokapalvelun ja sopimusruokailun asiantuntijat eri puolilta Suomea. Sama teema oli mukana EcoCentrian elintarvikehankinta RoadShowssa keväällä 2015, jolloin kohderyhminä olivat päättäjät, hankinta-asiantuntijat, ruokapalveluhenkilöstö sekä tuottajat ja jalostajat.
A slide review of the article competing against free (HBR). This has been done in accordance with the requirements of the Brand Management course, MBA, IIM Lucknow
3. Virtuele graffiti
Wii en backprojectie op spiegel
Eigen tag spuiten
Tag + foto automatisch uploaden op website
4. Meer ‘game’:
Naspuiten van tags uit database
Beoordeling op precisie en snelheid
Naar volgende level indien score voldoende
Laatste level uitgespeeld? Beloning = eigen tag toevoegen
Minder ‘tech-heavy’ alternatieven
5. Interesse om te gebruiken
Responsiveness niet altijd ideaal
Free spray: weinig inspiratie
Graphics niet als verwacht
Blijft niet lang interesseren