Sökning: "David Kuritzén"

Hittade 1 uppsats innehållade orden David Kuritzén.

  1. 1. Decomposing the Book-to-Price Effect: Leverage and Stock Returns

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

    Författare :Thomas Kidane; David Kuritzén; Johan Rönnestig; [2009]
    Nyckelord :book-to-price; enterprise book-to-price; leverage; stock returns; Penman et al;

    Sammanfattning : 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. LÄS MER