Essays about: "Book-to-Market"

Showing result 11 - 15 of 64 essays containing the word Book-to-Market.

  1. 11. The Value of Dividends : The effect of dividend exposure on stock returns

    University essay from Uppsala universitet/Företagsekonomiska institutionen

    Author : Erik Börjesson; Harald Lindström; [2019]
    Keywords : Dividend investing; Value effect; Size effect; Risk-adjusted performance; Dividend yield; Stock returns;

    Abstract : This paper aims to examine if firms listed on Nasdaq Stockholm with dividend exposure yield higher risk-adjusted returns than firms without dividend exposure. Using a data set consisting of observations between 2000-2017 we test the difference in mean risk-adjusted return, measured by the Sharpe ratio, between securities with different levels of dividend exposure. READ MORE

  3. 12. Factor Analysis of a Low Market Beta Portfolio in the Nordics

    University essay from KTH/Matematisk statistik

    Author : Arvid Orback; Magnus Nordlinder; [2019]
    Keywords : ;

    Abstract : The return of publicly traded assets has been studied by both academia and commercial institutions, using models with different sets of factors. Building on the work of previous results in this field, such as the CAPM-model, the three-factor model by Fama and French, and the four-factor model by Carhart, this thesis studies the return of a low market beta portfolio in the Nordic stock market. READ MORE

  4. 13. The Default Risk Puzzle - Evidence from the Swedish market

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Mia-Melina Söderlind; Sara Selin; [2019]
    Keywords : Default risk; Altman s Z -score; Systematic risk; Fama-MacBeth two-step regression; Stockholm Exchange; Business and Economics;

    Abstract : Default risk is a major source of potential losses to equity investors and the effect of default risk on stock returns have therefore been widely examined by several papers. However, whether there exists an anomalous significant relationship between default risk and stock returns is a rather unexplored subject on the Swedish market. READ MORE

  5. 14. Corporate Window-Dressing: A Study of Earnings Management Across Ownership Groups in European IPOs

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Alexander Karlsson; Daniel Lindgren; [2019]
    Keywords : Earnings Management; Initial Public Offerings; Private Equity; Venture Capital; Accounting Accruals;

    Abstract : This paper studies earnings management in European IPOs and examines how it differs by three groups of issuers: private equity-backed, venture capital-backed, and non-sponsored. Using a sample of 2,126 IPOs between 1995 and 2015, we find compelling evidence of earnings management around the time of issuance. READ MORE

  6. 15. Long-run IPO performance on the Swedish equity market between 2004-2014 - Compared with Private Equity backed IPOs

    University essay from Göteborgs universitet/Graduate School

    Author : Shahin Fathi; Jens Simonsson; [2018-07-04]
    Keywords : IPO; BHAR; CAR; PE; VC; Nasdaq OMX Stockholm; Abnormal return; Value weighting; Equally weighting; Long-run performance;

    Abstract : This paper investigates the long-run underperformance phenomenon of IPOs on the Swedish equity market between 2004-2014, using a sample of 53 IPO companies from Nasdaq OMX Stockholm. Also, the long-run performance of all IPOs during this time-period is compared with private equity backed IPOs separately. READ MORE