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Price is what you pay, value is what you get: A study about the power of value investing on the stock market
Södertörn University, School of Social Sciences.
Södertörn University, School of Social Sciences.
2014 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

Syfte: Undersöka om det är möjligt att generera en överavkastning på aktier gentemot marknadsindex på OMXS Industrials enligt Net Current Asset Value strategin.

Metod: Studien baseras på en kvantitativ metod för att undersöka historiska aktievärden. Datan som används i undersökningen hämtas från Thomson Reuters Datastream och de statistiska värdena bearbetas i Microsoft Office Excel

Teoretiska utgångspunkter: Studien har sin förklaring med utgångspunkt från teorierna om den effektiva marknadshypotesen och CAPM modellen, samt ett avsnitt som utreder principerna om hur värderingsstrategier bör följas.

Resultat: Beroende på längden av innehavsperioden visar studien att det i de samtliga fall är fullt möjligt att överträffa marknadsindex, och att den riskjusterade avkastningen i de flesta fall är högre än marknadsindex.

Abstract [en]

Objective: To examine whether it is possible to generate an excess return on stocks in relation to the market index of OMXS Industrials according to the strategy of Net Current Asset Value

Method: The study is based on a quantitative method to investigate historical stock values. The data used in the study is retrieved from Thomson Reuters Datastream and the statistical values are processed in Microsoft Office Excel.

Theoretical usage: The study is explained on the basis of the theory of the efficient market hypothesis and the CAPM model, and even a section that investigates principles of valuation strategies and how they should be followed.

Results: Depending on the length of the holding period, the study shows that in all cases it is quite possible to outperform market indices, and risk-adjusted returns in most cases are higher than the market index.

Place, publisher, year, edition, pages
2014. , 55 p.
Keyword [en]
CAPM, Efficient Market Hypothesis, market adjusted return, NCAV, risk-adjusted return, value investing
Keyword [sv]
CAPM, Effektiva Marknadshypotesen, marknadsjusterad avkastning, NCAV, riskjusterad avkastning, värdeinvestering
National Category
Business Administration
Identifiers
URN: urn:nbn:se:sh:diva-26143OAI: oai:DiVA.org:sh-26143DiVA: diva2:784541
Subject / course
Business Studies
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2015-01-30 Created: 2015-01-27 Last updated: 2015-01-30Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf