Global ETD Search

1	Financial Magazines impact on the Swedish Stock Market : An event study Hansson, Gusten, Hausenkamph, Philip January 2019 (has links) The purpose of this study is to investigate the effect of a stock recommendation from the leading financial magazines in Sweden. The study aims to measure the impact a recommendation illustrates in true value. The measurements are mean abnormal returns (AR), mean cumulative abnormal returns (CAR) and mean abnormal volume (AV). Conducting an event study to monitor, not only the date of announcement, but to also validate or invalidate the recommendation as a fundamental changer in the stock case. Where the calculations are made before, on and after the event occurs. With the aim to test if the market is efficient and in line with the rational theories, or if there are other explanatory theories, like the behavioral financial approach, that can explain the results. The sample consists of 571 recommendations that have been announced 2017 and 2018, divided into categories of buy and sell. The sample of buy and sell are also tested in subcategories of small and large companies, to measure the impact due to size of the firm, as a dependent variable. The empirical results shows that there are AR and AV existing due to recommendations. Small companies have the highest measured AR, with sell recommendations having the largest effects. The sell recommendations changes the value and the fundamentals of the stocks, while buy recommendations react positive to the recommendations on the day of announcement, then reverses back to the same price in the end of the event window. Suggesting that the market act both efficient and rational, but also irrational and ineffective, depending on what type of recommendation that is being released and how large and well monitored the company, that gets the recommendation is. Recommendation event study efficient market overreaction behaviour finance Business Administration Företagsekonomi
2	The Validity of Technical Analysis for the Swedish Stock Exchange : Evidence from random walk tests and back testing analysis Gustafsson, Dan January 2012 (has links) In this paper I examine the validity of technical analysis for the Swedish stock index OMXS30 between 2001-12-28 and 2011-12-30. Results indicate that OMXS30 followed a non-random walk and that technical trading rules had predictive power over future price movements. Results also suggest that technical trading rules could be used to outperform a buy-and-hold strategy. Technical Analysis RSI Efficient Market Hypothesis Behaviour Finance Negative Feedback Trading
3	Put your head in the sand or lose a grand? : A natural experiment of the ostrich effect and the disposition effect / Stoppa huvudet i sanden eller förlora investeringen? : Ett naturligt experiment av strutseffekten och dispositionseffekten Tapper, Josefine, Baars, Cajsa January 2018 (has links) This thesis presents an attempt to find evidence of the ostrich effect and the disposition effect, as well as individual differences in self-assessed financial knowledge and its effect on these biases. The ostrich effect refers to the tendency to deliberately avoid information that might be negative, by "sticking your head in the sand". The disposition effect refers to people who hold on to losing assets too long while selling winning ones too early. The two effects were examined through a natural experiment which emerged from the stock market crash that occurred February 5th, 2018. The data was collected during an internship at Länsförsäkringar AB and originates from the usage of Länsförsäkringar's application Sparnavigatorn, where customers can manage their savings. The customers login activity and number of placed sales orders were observed. The data material is unique, and the study enabled a unique presentation of real life behaviour within a financial context and an analysis of whether individual differences affect behaviour. To our knowledge, neither the ostrich effect nor the disposition effect have earlier been examined through a large scale natural experiment. The results show no significant indication of the ostrich effect, but rather a relatively constant login activity not affected by the stock market crash. Furthermore, they show a contradictory reaction to what the disposition effect suggests, meaning the respondents place more sales orders during the stock market fall than at the time before and after. The results imply that further research needs to be done to either reject or confirm the existence of the ostrich effect and the disposition effect. Economics Nationalekonomi
4	Analys av värdnationers aktiemarknadsreaktioner i samband med tillkännagivandet av mega-sportevenemang : En kvantitativ studie om tillkännagivandet av mega-sportevenemang med syfte att beskriva och analysera potentiella reaktionen på värdnationens aktiemarknad Jonsson, Rasmus, Törnblom Ehrnst, Emil January 2024 (has links) This study investigates the impact of mega-sporting event announcements on the host country's stock market. The analysis includes 34 events between 2000 and 2024, including the Olympic Games (Summer and Winter), the FIFA World Cup, and the UEFA European Championship. Employing a deductive approach grounded in existing theory and research, the study formulates hypotheses and utilizes an event study methodology to examine whether the announcements trigger abnormal returns in the host nation's stock market. T-tests are used to assess the statistical significance of the findings. The results provide limited evidence of market reactions to the announcements, with any potential effects occurring primarily before the official announcement, suggesting the possibility of information leakage or insider trading. No significant effects were found on the announcement day itself or on subsequent days. Furthermore, no statistically significant differences were found based on the economic size of the host nation or the type of event. However, the study did observe that FIFA World Cup announcements tend to generate slightly more volatile market reactions compared to the other events. Event study Efficient markets Efficient markets Behaviour finance Mega-Sport event T-test FIFA World Cup UEFA European Championship Olympic Games Random walk Abnormal return Eventstudie Effektiva marknader Beteende ekonomi informationsasymmetri Mega-Sportevenemang T-test Fotbolls-VM Fotbolls-EM Olympiska spelen Random walk Abnormal avkastning Economics and Business Ekonomi och näringsliv

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