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10482 Uppsatser om Efficient market theory - Sida 2 av 699

Att kommunicera skapar incitament till att investera : En studie om investor relations påverkan på aktiekursen

Purpose: To examine how IR-related press releases affect share price for stock companies, and to explore how said companies practice Investor Relations.Methods: The study was conducted using an event study as well as e-interviews. The event study has a quantitative deductive research approach where the market model is used for calculating the abnormal return based on press releases. The e-interviews have a qualitative research approach and follow a semi structured interview guide. The study includes all listed stock companies within the Swedish construction industry and includes press releases from the last decade.Theory: The study is based on the efficient market hypothesis and its semi strong form, theories within Investor Relations and previous research.Results: The event study shows a significant negative abnormal return during a four day period starting the day after the press release event. The negative abnormal return could derive from investor relations being used by companies as damage control, or that the investors? expectations are too high as a result of IR.

Drömmen om att segra över marknaden : En jämförelsestudie mellan aktierekommendationer och insidertransaktioner som portföljstrategi

The purpose of this paper is to compare two different portfolio strategies consisting of insider transactions and stock recommendations and examine whether they posses any information advantage.  The portfolios are balanced once every three-, six- and twelve- months in the period of 2007-2009. Our results show a pattern for these investment strategies. The portfolio consisting of insider transactions generates a positive return in equity in a negative market environment and the opposite reaction in a positive environment. The result for the portfolio consisting of stock recommendations show a positive return of equity in positive environment and the opposite effect in negative environment. The pattern that has been observed can be classified as an anomaly.

VD-bytets påverkan på aktiekursen : En studie ur ett genusperspektiv

In the last decades the Swedish labor market has been characterized by a stereotype perception on women?s role and position on the market. The perception speaks of the characteristics of female leadership as being less qualified causing the gaps between the two genders to transform into a gender segregated society. The historically slow progress has limited the career opportunities for women to reach top management. However the increasing discussions during the 21st century on how to reduce the gender differences in the labor market has made it more acceptable with women on higher positions.

Jobbcoachning : En undersökning om hur jobbcoachernas coachningsprocess ser ut

Labour market coaching (Swedish:?Jobbcoachning?) was a comprehensive political project for the Swedish labour market, with the aim of helping unemployed individuals to enter the labour market. Between 2009-2014  the labour market coaching was carried out by private companies through governmental regulations. This thesis aims to find out (1) what coaching activities the coaches used, and (2) how these coaching activities can be understood in the light of previous scientific research. My results consist of interviews conducted with six labour market coaches.

P/E-effekten : En utvärdering av en portföljvalsstrategi på Stockholmsbörsen mellan 2004 och 2012

One could argue that the most discussed topic in finance is whether or not it is possible to ?beat the market?. Even though many people claim to do this, there is little evidence to support the idea that one can consistently beat the market over a long period of time. There are indeed several examples of investors who have managed to outperform the market consistently for a long time, but the efforts of these individuals or institutions could by many be considered to be pure luck.One of the many strategies that have been evaluated by several researchers and is said to generate a risk adjusted return greater than that of the market, is one based on the P/E-effect. This strategy is based on the financial ratio P/E ? price divided by earnings ? and used by constructing portfolios consisting of stocks with low P/E ratios.

Profitability of Momentum Strategies on the Nordic stock market

Purpose: The main purpose of the thesis is to examine the profitability of Momentum Strategies on the Nordic stock markets. This will provide insight and contribute to the debate on efficient markets. Finding profitable Momentum Strategies will provide strong evidence of inefficiency in the market. A secondary purpose is to examine factors which might cause or impact the profitability of the Momentum Strategy. We will look closely at the relationship between the profitability and factors such as risk (CAPM-beta), market capitalization, trading volume and seasonality.

Personalnedskärningar och aktiepriser : En eventstudie av sambandet mellan personalnedskärningar och aktiepriser under perioden 2008-2012

Purpose: The purpose of this thesis is to investigate whether abnormal stock returns could be identified as a result of a layoff announcement during weak economy.Method: An event study methodology.Theory: Efficient market hypothesis, signal theory.Empirical results: Quantitative data from observations of stock prices in thirty two companies listed on the Nasdaq OMX Stockholm, in the period 2008 -2012.Conclusion: The results indicate that the market reaction was negative because there were negative abnormal returns on the Stockholm Stock Exchange during the period 2008-2012 in connection with the layoff announcements. The market reaction was milder when staff reductions were carried out as a result of a restructuring and stronger when staff reductions were carried out as part of a cost reduction program.The layoff announcements elicited different market reactions depending on the company's industry affiliation. The most negative reaction was in the Healthcare industry. Negative abnormal returns were lower in industries Industrials, Consumer Services and Consumer Goods. There were no abnormal returns for shares of companies in the industry Financials.

Entering a new market ? A model for evaluating a new commercial real estate market

The development for Skanska Commercial Development (SCD) during the last years has been positive on all markets and Skanska therefore plans on expanding their activity. Central and Eastern Europe has had a considerable economic development, what is assessed to continue during the next following years. Bucharest is one possible alternative in the CEE for a new establishment by SCD. However, the investigation before an entry is a process with many factors that need to be taken into consideration. There are today no models on how and what a developer as SCD should evaluate in terms of opportunities and risks on a possible new market.

Aktiv- och Indexförvaltning : - Kan svenska investerare få högre riskjusterad avkastning genom aktiv förvaltning?

Nearly 74 percent of the Swedish population invests in funds and the options are therefore various. The Swedish private investors can choose between active and passively managed funds. Fund managers, who seek to generate higher returns than the market, manage active managed funds. Unlike the active managed funds, passively managed funds do not require any active investment decisions.Fama?s (1970) Efficient market theory reflects all available information in the stock price, therefore it is not possible to predict how the stock price changes.

Kartläggning av omställningsarbete vid formspruta

This study will chart the changeover work, with a standpoint in the SMED-theory, at the company Peter Ernst AB in Värnamo. They are suppliers in plastic moulding industry and delivers to amongst other Saab in Trollhättan and Scania. The company are in a very competitive market, and they have to make manufacturing more efficient and rationalise their costs to be able to compete. A big problem, which the company has identified, is their long changeovers. It brings higher costs, a more stressful work climate and holds back the company from becoming more efficient.Field studies will be conducted on the changeover, which will be observed and filmed.

Network Advantages in a Market Entry Context ? A study of the Swedish fashion business

Purpose: The purpose of this paper is to research and analyze how the establishment in new markets of small and medium Swedish fashion companies can be made more efficient from a network perspective. Methodology: The researchers have decided to take a phenomenological standpoint and undertake an exploratory study in order to gain understanding of the phenomenon of market entry and the use of networks. The researchers have chosen to undertake a qualitative study and to adopt an abductive approach. Two ?case companies? have been chosen which are Filippa K and House of Dagmar.

Den lilla kommunen : En fallstudie av Torsås kommuns arbetsmarknadspolitik

The essay's purpose is to find out why municipalities engaged in local labor market policies and the study focused on a smaller survey unit. In the paper an analysis is made of the Torsås municipality's labor market policy. The work also intends to structure the political organization and their cooperation with other players. The survey methods used were interviews and a case study. The essay results are based on two interviews.

Adderande tillverkning för metall

The Swedish automotive industry has since way back been struggling with bankruptcy, abroad buy outs and staff cuts. Competition and pressure on prices are two factors that affect the automotive industry. Because of this, the companies are pressured to continuously developing their work in addition to be able to compete on the market. The aircraft industry has successfully managed to implement additive manufacturing (AM) and for motorsport has several components manufactured with AM been used. When AM is used as a manufacturing method, there are a number of advantagesthat follows.

Har analytikernas roll på aktiemarknaden blivit mindre relevant: En studie av analytikernas påverkan på aktiers avkastning

The purpose of this thesis is to investigate if the stock market reacts differently to accounting information, depending on the stock market climate. The study focuses solely on stocks listed on the OMX Stockholm 30 during each year from 2005 to 2009. By applying the concept of Earnings Response Coefficient we can estimate how the market reacts to accounting information. The dependent variable in the equation is the market reaction on unexpected earnings, in the study described as the abnormal return on stock. For quality purposes we measure this on a ±1,5,10 and 20 days basis.

De första på plats: En fallstudie av entreprenörers resonerande vid etablering på en ung marknad

One of the areas in which current theory on entrepreneurship is ambiguous is in the explanation of how entrepreneurs act when entering a new market. One author that has attempted to contribute in this area is Saras D. Sarasvathy who has tried to explain the entrepreneurs reasoning through the theory of causation and effectuation. The former refers to a reasoning that takes the effect of an entrepreneurial action as given, while the latter looks upon the effects as uncertain, while only the means are given. With a foundation in this theory, Sarasvathy claims that when entrepreneurs enters a new market the level of environmental uncertainty is so high that reasoning based on causal relationships is rendered useless.

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