Browsing School of Business, Economics and Law / Handelshögskolan by Issue Date
Now showing items 1-20 of 135
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Fund activity and performance: A closer look at the Swedish mutual fund industry
(2016-07-06)This paper investigates the level of fund activity and its e ect on fund performance on the Swedish market. By analyzing fund characteristics between 2005 to 2015, we find that among the active fund alternatives, the ... -
How does the market structure in a banking sector affect bank profitability during a financial crisis?
(2016-07-06)This thesis studies how profitability in both emerging and advanced economies is affected by market structure in a financial crisis. The country sample from Mirzaei, Moore, & Liu (2013) is used with a similar methodology, ... -
The Effect of Bond Convexity in Abnormal Volatility
(2016-07-06)According to earlier empirical studies, convexity in the U.S. treasury market is arbitrage-free priced. This paper study whether the arbitrage-free pricing of convexity held even in the financial crisis and the volatile ... -
Performance of hedge fund strategies in bull and bear markets
(2016-07-06)Hedge funds use a wide variety of investment styles, although many people have the perception that they are a relatively homogenous group with similar strategies to generate returns. Understanding the differences in the ... -
Disclosure Requirements´Effect on Stock Returns of U.S. Listed Natural Resource Extraction Issuers
(2016-07-06)I examine the changes in firm value that oil, natural gas, and mining firms experience as a result of the implementation of the Cardin-Lugar Amendment into U.S. law. Using the traditional event study methodology I observe ... -
The Effect of Attention on the Behaviour of Investors Using a Social Trading Platform, Shareville
(2016-07-07)When buying a stock, it is impossible to take hundreds or thousands of stocks into consideration. A way for investors to simplify the search problem is to make the choice from stocks that have caught their attention. ... -
Performance Evaluation of European Green Mutual Funds - Is There an Economic Trade-Off?
(2017-06-27)In this thesis, we investigate the financial performance of European green and conventional mutual equity funds over the 2007 – 2017 period. We applied the Carhart (1997) four-factor model over three different periods, ... -
Does financial advisory add value to M&A transactions in the pharmaceutical industry?
(2017-06-28)This study investigated if financial advisors contribute to value creation in M&A transactions in the pharmaceutical industry, using an event study methodology. Based on 294 transactions worldwide between 2012-2016, an ... -
Markets in Financial Instruments Directive II - And its effect on the principal-agent relationship within financial advisory
(2017-06-28)Through an interview based study this thesis investigates how MiFID II, a new EU directive concerning the European Union’s financial markets, will affect the principal-agent relationship currently present between financial ... -
UNDERPRICING IN COLD AND HOT ISSUE MARKETS: Testing the Changing Risk Composition Hypothesis on the Swedish IPO Market.
(2017-06-30)This paper aims to investigate the difference in average first-day return on initial public offerings (IPOs) between the “cold issue” market of 2010-2013 and the “hot issue” market of 2014-2016 on the Swedish IPO market. ... -
An Empirical Evaluation of the Return and Risk Neutrality of Market Neutral Hedge Funds
(2017-06-30)Market neutral is a widely-used investment style for hedge funds. By analysing a data set consisting of 7913 hedge funds, we assess their historical ability to stay neutral towards the U.S. equity market in terms of return ... -
Performance of Socially Responsible Investment Strategies in Funds During Financial Crises
(2017-07-03)This paper investigates the performance of socially responsible investment (SRI) funds in northern and continental Europe. The study compares SRI funds to non-SRI funds in different market states by analyzing monthly returns ... -
Sustainable Banking: A Closer Look at Scandinavian Banks´Sustainability Activities and Stock Market Performance
(2017-07-03)This thesis investigates announcements of sustainability news in major commercial Scandinavian banks and their effect on stock market performance by conducting a quantitative research method using a standard event study ... -
CATASTROPHE BONDS - An investment analysis of their performance and diversification benefits
(2017-07-03)This thesis employs total return indices to investigate if catastrophe bonds are zero-beta assets and how they have performed compared to other assets. We conduct time series regressions and conclude that catastrophe bond ... -
A study of the Basel III CVA formula
(2017-07-03)In this thesis we compare the official Basel III method for computing credit value adjustment (CVA) against a model that assumes piecewise constant default intensities for a number of both market and fictive scenarios. CVA ... -
SWEDISH MUTUAL EQUITY FUND PERFORMANCE - A COMPARATIVE STUDY OF SWEDISH FUNDS INVESTING IN SWEDEN & THE U.S.
(2017-07-03)The purpose of this thesis is to investigate the performance of Swedish mutual equity funds that primarily invest in either the Swedish or the U.S. market. Complementing prior research, we emphasis the relative performance ... -
En empirisk studie om processen bakom ett outsourcingbeslut
(2017-07-04)This thesis examines how Swedish banks measure risks associated with outsourcing and how they weigh it against expected profit. It also discusses the benefits and disadvantages of outsourcing and investigates how banks ... -
Skäller hundarna högt i Sverige? En undersökning av Dogs of the Dow-strategin på den svenska aktiemarknaden
(2017-07-04)The aim of this study is to re-examine the performance of the investment strategy proposed by John Slatter in 1988 called Dogs of the Dow on the Swedish stock market. The investment strategy of picking the 10 stocks with ... -
Asymmetriska relationer mellan kunder och finansiella rådgivare. En studie av hur kunders finansiella kunskapsnivåer påverkar relationen och hur MiFID II avser att hantera asymmetriproblematiken
(2017-07-04)Both demand and supply of financial advice are increasing because of the complexity of financial products and people’s difficulty in making economic decisions. Previous research has identified asymmetries between customers ... -
Application of the Kelly Criterion on a Self-Financing Trading Portfolio -An empirical study on the Swedish stock market from 2005-2015
(2017-07-05)A Kelly strategy theoretically optimizes the growth rate of investor’s capital. This paper evaluates its usefulness on the Swedish stock market between 2005 and 2015 by comparing returns to that of common portfolio strategies ...