Essays about: "thesis on THE LEVERAGE EFFECT ON STOCK RETURNS"
Found 5 essays containing the words thesis on THE LEVERAGE EFFECT ON STOCK RETURNS.
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1. The impact of M&A on shareholders’ Value; Determinants of the acquirer value creation; Empirical evidence from the Swedish Market.
University essay from Lunds universitet/Företagsekonomiska institutionenAbstract : The purpose of this thesis is to investigate the impact of M&A announcement on the acquirer shareholders' value in the Swedish market. We further aim to find the determinants behind these changes in the acquirer stock prices. READ MORE
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2. The Impact of Leverage on Return-Volatility Relationship -An Empirical Study of the Nordic Equity Markets
University essay from Göteborgs universitet/Graduate SchoolAbstract : Prior studies have documented mixed evidence regarding the relationship between stock returns and equity return volatilities. The purpose of this thesis is to contribute to the debate about the direction of the risk-return relationship and to seek further explanation for this phenomenon. The aim of this thesis is therefore two-fold. READ MORE
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3. The Convertible Bond Announcement Effect - An Event Study on the Nordic Markets
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : The announcement effect of convertible bonds is a well-researched topic. However, there is no clear consensus whether the announcements of convertible bond issuance affect the stock price positively or negatively. Previous research shows that this effect differs between markets. READ MORE
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4. In Search of a Leverage Factor in Stock Returns: An Empirical Evaluation of Asset Pricing Models on Swedish Data
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : Theoretical finance regards leverage as one of the sources of stock return risk, and thus claims that the more levered a firm is, the higher the risk for equity holders and the higher the required rate of return. As asset pricing has matured into an important area of finance, new factors have been incorporated into the CAPM, following observed anomalies in stock returns. READ MORE
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5. Decomposing the Book-to-Price Effect: Leverage and Stock Returns
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : The starting point for this thesis is a decomposition of book-to-price (B/P) into an enterprise-book-to-price component (that pertains to the firms operations and supposedly reflects operating risk) and a leverage component (assumed to capture financial risk), laid out by Penman et al (2007). Using Swedish data, we show that the leverage component of B/P is negatively associated with future stock returns, conditional upon enterprise-book-to-price. READ MORE
