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Marknadsinflytandets påverkan på aktiens prissynkronicitet
(2019-07-09)
This report studies the relationship between firms’ market power and their behavior in the equity market. To examine this relationship, the operating margin and weekly returns for 50 companies listed at the Stockholm ...
CEO Compensation and Company Performance - Evidence From Sweden
(2019-07-09)
Compensation to CEOs has increased dramatically over the past decades. This increase over time raises the question of its justifiability. The direct costs of CEO compensation shall be considered in light of the value added ...
Returns to Swedish Acquirers from Public an Private M&As
(2019-07-09)
This paper examines Swedish listed acquirers’ cumulative abnormal returns surrounding the announcement of acquisitions between the period 1998–2018 of both public and private targets. We find that acquirers earn an average ...
Determinants of Bidders' Abnormal Returns in Technology Mergers and Acquisitions
(2019-07-08)
We study 314 mergers and acquisitions (M&As) of European and American technology
firms between 2004 and 2018. Using the standard event study methodology,
this paper analyzes the abnormal returns of bidders in the event ...
A Study of the Size and Value effect on the Stockholm Stock Exchange - Are there pricing anomalies present on the Stockholm Stock Exchange?
(2019-07-09)
This thesis evaluates the financial performance of Swedish small cap stocks over the period 2000-2016. By applying CAPM and the Carhart four-factor model, we find no evidence for a size or a value effect. Furthermore, the ...
Does ETF Ownership Increase Stock Volatility?
(2019-07-05)
Exchange Traded Funds (ETFs) are supposed to be priced equal to the net asset value of their underlying stocks, if not, opportunities of arbitrage occur and are quickly corrected by arbitrageurs. When a demand or liquidity ...
Do dark pools affect asset price volatility? A Study of the US Equity Market.
(2019-07-08)
Recent years there has been an increased usage of dark pools followed by a rise in interest to study the field. During 2018, 14% of the US equity trading was made in dark pools. It is therefore highly relevant to consider ...
Accuracy of Analysts' Earnings Estimates
(2019-07-05)
This thesis investigates consensus and individual analyst firm accuracy in forecasts of earnings per share (EPS) for U.S. stocks in 2009–2018. Moreover, we investigate if the analysts’ forecasting predictiveness is affected ...
The impact of ESG score on firm's cost of capital and riskiness
(2019-07-05)
This paper investigates the relationship between a firm´s Thomson Reuters ESG score and its weighted average cost of capital & implied credit default swap spread. The research is conducted on the Swedish stock exchanges ...