The Efficiency of Cyclical and Defensive Stocks

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F14%3A00213871" target="_blank" >RIV/62156489:43110/14:00213871 - isvavai.cz</a>
Result on the web
<a href="http://www.intcess14.org/" target="_blank" >http://www.intcess14.org/</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
The Efficiency of Cyclical and Defensive Stocks
Original language description
The paper is focused on the relation between intrinsic value of a stock and its market price, in detail on the differences between values and prices of cyclical and defensive stocks. These stocks differ in sensitivity of corresponded industry to businesscycle movements. Based on the differences between values and prices, corresponding form efficiency of the market can be found. Author investigates, whether higher market efficiencies are measured for cyclical or defensive stocks and what market efficiencies are measured according to different models. Models, which are used to estimate the intrinsic value of a stock are applied to stocks of chosen stock markets. Cyclical and defensive stocks are analysed within 1996-2012. They are chosen of stock marketvolume leaders within this period of all stocks included in chosen stock market indexes. US stock market index DJIA, UK index FTSE 100 and German index DAX are used. Period 1996-2012 is chosen because of the middle-term or long-term char
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
International Conference on Education and Social Sciences (INTCESS14), Vols I And II
ISBN
978-605-64453-0-9
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
700-708
Publisher name
OCERINT-International Organization Center of Academic Research
Place of publication
Istanbul, TURKEY
Event location
Istanbul
Event date
Feb 3, 2014
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
349913300077

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