Value and Growth Stocks on the Swedish Stock Market PDF Download
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Author: Mikael Stråhle
Publisher:
ISBN:
Category :
Languages : en
Pages : 84
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Book Description
To growth stocks on the Stockholm stock exchange, even when the returns are risk-adjusted.
Author: Mikael Stråhle
Publisher:
ISBN:
Category :
Languages : en
Pages : 84
Get Book Here
Book Description
To growth stocks on the Stockholm stock exchange, even when the returns are risk-adjusted.
Author: Henriette Wennicke
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
risk measure beta is on average lower for value portfolios than for growth portfolios, which totally contradicts the traditional finance theory. Additionally the value strategy does not perform worse in bad states of the economy, which otherwise could have indicated that the value stocks had increased downside risk. The irrational arguments seem to fit the existence of the value premium better. Investors are subject to several kinds of judgment biases, which originate from limited cognitive capacity. Therefore different types of heuristics are used that can limit the investors? ability to make rational decisions. Incorrect usage of heuristics can encourage investors to extrapolate past performance too far into the future. When performing a simple extrapolation test on the Swedish stock market it is found that the net profit growth ahead of portfolio formation is slightly negative for the value portfolio, whereas net profit after formation is slightly positive. The picture is the opposite for the growth portfolio. The results indicate that markets undervalue value stocks and overvalue growth stocks, which lead to a positive performance of value stocks when the market participants realize that their view of growth stocks have been too optimistic and their view of value stocks too pessimistic.
Author: Christian Schießl
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954890690
Category : Business & Economics
Languages : en
Pages : 77
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Book Description
Based on a 'free of survivorship-bias' sample of German stocks listed at the Frankfurt stock exchange, the study investigates the ability of hedge portfolio formation structures, built of three value premium proxies (P/B, P/E, and DY), the size factor, and the technical momentum factor, to generate excess returns in the period 1992 to 2011. First, the author characterizes and defines the significant terms that are in connection with value and growth investing. He continues with the discussion of asset pricing with the CAPM, the Fama and French three-factor model, and the Carhart extension, and then describes the expected stock returns that are of capital importance. Moreover, the author deals with related studies for the German stock market. He gives a detailed description of the empirical analysis before he draws his conclusions. The author's purpose is to answer the following core questions: Is there a value premium in the German market between 1992 and 2011? Is there a reversed size premium like recent empirical findings suggest? Do high momentum stocks perform better than low momentum stocks? Is there a significant seasonal pattern in hedge portfolio returns? The combination of which factors best explains expected stock returns?
Author: Lars Nordén
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 182
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Book Description
Author: Dilek Türker Uludağ
Publisher:
ISBN: 9789944359085
Category :
Languages : en
Pages : 248
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Book Description
Author: T. Rowe Price Jr.
Publisher:
ISBN: 9781258576356
Category :
Languages : en
Pages : 48
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Book Description
Author: Aswath Damodaran
Publisher: John Wiley & Sons
ISBN: 1118064143
Category : Business & Economics
Languages : en
Pages : 269
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Book Description
An accessible, and intuitive, guide to stock valuation Valuation is at the heart of any investment decision, whether that decision is to buy, sell, or hold. In The Little Book of Valuation, expert Aswath Damodaran explains the techniques in language that any investors can understand, so you can make better investment decisions when reviewing stock research reports and engaging in independent efforts to value and pick stocks. Page by page, Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily understand and use. Along the way, he covers various valuation approaches from intrinsic or discounted cash flow valuation and multiples or relative valuation to some elements of real option valuation. Includes case studies and examples that will help build your valuation skills Written by Aswath Damodaran, one of today's most respected valuation experts Includes an accompanying iPhone application (iVal) that makes the lessons of the book immediately useable Written with the individual investor in mind, this reliable guide will not only help you value a company quickly, but will also help you make sense of valuations done by others or found in comprehensive equity research reports.
Author: Standard and Poor's Corporation
Publisher: McGraw-Hill Companies
ISBN:
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
For investors in search of portfolio diversity and optimum returns, growth stocks are where it's at. But the fastest-growing stock may not be the most profitable one. And that's where the expertise of Standard & Poor's, the world's most dependable name in investing, becomes invaluable. In this annual, S&P showcases the 100 best growth stocks pooled from its unique database. Using detailed criteria, they help readers to distinguish the proven performers from the flash-in-the-pans. Clear data points the way to companies and sectors that are expected to continue their high levels of profit growth. For investors at all levels, there is no better guide to this volatile area of the market.
Author: Asmail Kholafzade Astamal
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659388620
Category :
Languages : en
Pages : 160
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Book Description
In this book, we investigate to compare average return of value and growth stock during 8 years from 2001 until 2008 in Tehran Stock Exchange. Samples include 91 firms in order to classify value and growth we used B/M. data mining for beginning book value and ending market value of stock performed. Three classes were separate. Highest and lowest classes were chosen and middle class was omitted. Average return of highest group (value stock) and lowest group (growth one) were computed .statistical method was paired samples T test. Results corroborate average value stock holding returns of one year to 7 years were greater than average growth stock holding return. This difference during 7 years was significant. On the other hands, the different average return on 8th year was not significant.
Author: William A. Barnett
Publisher: Emerald Group Publishing
ISBN: 1804557609
Category : Business & Economics
Languages : en
Pages : 205
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Book Description
This volume of the International Symposia in Economic Theory and Econometrics explores the latest economic and financial developments in Africa and Asia.
