Essays about: "imperfect substitutes hypothesis"
Found 3 essays containing the words imperfect substitutes hypothesis.
-
1. Passive Flows and Company Valuations: A Study of the Swedish Market
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This paper analyzes the relationship between index fund flows and the valuations of index constituents listed on the Stockholm Stock Exchange. Using data on the OMXS30 and OMXS30NEXT indices, we run panel regressions of P/E ratios on index fund flows and a set of control variables. READ MORE
-
2. The effect of changes in equity index composition on stock price: The case of the S&P/ASX 20, 50, and MidCap 50
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : This paper is aimed at evaluating the index effect for the Australian blue-chip and midcap indices using changes in index composition from the S&P/ASX 20, 50 and MidCap 50. For the midcap index I find significant CAARs for the period prior to the announcement period which would signify that market participants anticipate the changes to index composition and possibly try to exploit the already еstablished in literature phenomenon that is the index effect. READ MORE
-
3. The Index Effect: OMXS30 vs EURO STOXX 50
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This paper examines the index effect, the phenomenon of abnormal returns and abnormal trading volumes that stocks may experience when included in or excluded from an index. Many theories have been presented to explain this phenomenon, relating it to factors such as demand shocks, increased attention and lower trading costs. READ MORE
