Browsing by Author "Ben Rouha, Yasmine"

Filter results by typing the first few letters
Now showing 1 - 2 of 2
  • No Thumbnail Available
    Item
    Does size matter? Analysis of stock price reaction to green bonds announcements
    (2021-07-13) Ben Rouha, Yasmine; Khouja, Khaled; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
    The recent large growth in the green bond market has been shown in previous studies to yield abnormal returns as the market value of the stock reacts to the announcement of green bond issuance. This study uses a sample of 90 observations, of which 61 are from the Swedish market and the remaining 29 from the American market. The sample is used to answer the following hypotheses (i) whether there is room for abnormal returns in these markets attributed to green bonds and (ii) whether there is a correlation between the market reaction and the size of the green bond. To answer the hypotheses, the average cumulative abnormal returns are calculated and further analyzed by regressions and t-tests for significance. The results shows that there are abnormal returns on both markets, the CAAR for the Swedish sample is computed to 0.34% and 0.98% for the American sample. However, no significance could be denoted, which is assumed to be due to the low number of observations included in the study. The difference in the market reaction may be explained by the varying efficiency between the bond and the stock market between the countries. Regarding the second hypothesis, none of the regressions in the study displayed a significant relationship between the bond size and the market reaction measured in CAAR over a 5-day window.
  • No Thumbnail Available
    Item
    Gender Differences in Risk Attitudes: An Analysis of the Swedish Premium Pension System
    (2023-06-29) Ben Rouha, Yasmine; Kawal Kaur, Preet; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
    This thesis examines gender differences in investment behavior within the Swedish Premium Pension System for the years 2015-2022. The thesis uses the pension system as a case study to identify possible differences in risk attitude, factors that affect and whether gender has an impact on the level of home bias in investment decisions. Different risk measures are used to formulate equations used in the empirical analysis. Regressions were performed on all research year both pooled and separately; the results gave in general significant evidence of women being more risk-averse than men and that women exhibit home biasness to a greater extent than men. This thesis concludes that men and women differ in investment strategy, a difference explained by theories such as behavioral finance, home biasness and risk-awareness.