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Visar resultat 1 - 5 av 70 uppsatser som matchar ovanstående sökkriterier.

  1. 1. Accounting for the Measurement Bias: A Study of Market Efficiency in the United States and the Relevance of Extensive Fundamental Analysis in Equity Valuation

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Författare :Erik Bergmark; Hugo Freudenthal; [2023]
    Nyckelord :Accounting valuation bias; Fundamental analysis; Horizon Value; Market mispricing; Residual income valuation;

    Sammanfattning : This thesis investigates abnormal returns over the period 1983-2021 from an investment strategy that is based on public accounting information. Investment positions are taken in US manufacturing firms and are held for 36 months using a self-financing (hedged) portfolio. LÄS MER

  3. 2. Does CSR Actually Hurt Profitability? A Study on the Impact of US Firms' Corporate Social Responsibility Performance on Accounting and Market Metrics of Financial Profitability

    C-uppsats, Handelshögskolan i Stockholm/Institutionen för marknadsföring och strategi

    Författare :Gian Luca Hedenström; Jacopo Breschi; [2022]
    Nyckelord :CSR; Corporate Financial Profitability; Accounting and Market Profitability; Stakeholder Theory; ESG;

    Sammanfattning : Researchers have long investigated the relationship between firms' corporate social responsibility (CSR) performance and corporate financial performance (CFP) without reaching a consensus. Several scholars highlight the multiple economic benefits that firms increasing CSR performance can enjoy. LÄS MER

  4. 3. Two Channels, One Anomaly: Diagnosing the Investment Effect

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Tom Lanoizelee; [2022]
    Nyckelord :Investment Effect; Diagnostic Expectations;

    Sammanfattning : The investment effect is driven by Zhang's rational direct discount-rate channel in the short term but by a non-rational indirect profitability channel in the long term. Unifying Zhang's production based asset pricing with Bordalo et al. LÄS MER

  5. 4. Value creation in sponsored and non-sponsored spin-offs

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Författare :André Sjögren; [2022]
    Nyckelord :Spin-offs; Ownership; Sponsors; Excess Returns; CAPM;

    Sammanfattning : I examine whether spin-offs create value and if there is a difference between sponsored and non-sponsored firms by examining announcement-day share price performance, long-term share price performance, and long-term change in operational performance. The measures used were calculated on an unadjusted basis, in line with prior research, and on a risk-adjusted basis, using the Capital Asset Pricing Model. LÄS MER

  7. 5. The Momentum Premium: An Intermediary Asset Pricing Perspective

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Simon Eliasson; David Öhlund; [2021]
    Nyckelord :Momentum; Intermediary Asset Pricing; Time-Varying Risk;

    Sammanfattning : We attempt to explain the momentum premium using time-varying risk under the frictions of financial intermediation. Our conditional CAPM model reveals positive covariation between momentum's beta and the expected market risk premium. LÄS MER