8 uppsatser
ett test av Stockholmsbörsens effektivitet
Background: Low Price-Earnings ratio, low Book-to market ratio and low stock prices can give the impression that a stock is ”cheap”. Is it through systematic use of these portfolio strategies possible to beat the market index ” in other words does financial illusions exist” …
… than, peer-groups based on other measures that represent factors affecting the price-to-earnings multiple. In contrast with previous empirical studies, a solid theoretical approach is used in defining which factors, according to valuation theory, affect the P/E-ratio. The …
- Varför bry sig?
The purpose of this master thesis is to evaluate how the current share price and market consensus affect security analysts target price and if an investor should pay any attention to it. Empirical data is primarily collected from qualitative interviews with ten security analysts …
… principles connected to R&D, since one could argue that it is reflected in the price but not among the assets.
Ett fenomen i svensk börshistoria
Bakgrund: Åren 86-97 kännetecknas som en period med flera stora reformer och en svensk konjunktur som nådde sin botten med tre år i följd av negativ BNP-tillväxt. Påtagligt var även reaktionen från Stockholmsbörsen som i samband med lågkonjunkturen upplevde en kraftig nedgång …
En empirisk studie av hybrida värderingsmodellers prediktionsförmåga
… to estimate the equity value of a company. A common tool for valuating stock prices is the usage of different multiples. This is a method used to determine the value of a company, by examining and comparing the financial ratios of relevant peer groups. The disadvantage with this …
… av aktieprisutvecklingen än de traditionella prediktorerna som P/E (price over earnings ratio), CAY (consumption wealth ratio) och dividend yield. Varians riskpremium kan även betraktas som ett mått på marknadsimplicerad riskaversion med negativ korrelation till …
En utvärdering av en portföljvalsstrategi på Stockholmsbörsen mellan 2004 och 2012
… 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. Several studies have confirmed the existence of the P/E-effect on various stock markets around …
