Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F17%3A00010962" target="_blank" >RIV/47813059:19520/17:00010962 - isvavai.cz</a>

Výsledek na webu

<a href="http://ufu.utb.cz/konference/sbornik2017.pdf" target="_blank" >http://ufu.utb.cz/konference/sbornik2017.pdf</a>

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?

Popis výsledku v původním jazyce

The stock prices of companies are influenced by many variables; two basic categories are macroeconomic and microeconomic factors. The objective of this paper is to analyze the existence of a relationship between select microeconomic variables and the stock returns of financial sector companies listed on the Vienna Stock Exchange. The institutions that were chosen are Immofinanz AG, Raiffeisen Bank International AG, Erste Group Bank AG, Uniqa Insurance Group AG and Vienna Insurance Group AG. The focus is on Austria due to the lack of empirical literature on problematics of linkages between stock prices and microeconomic factors. A time series with an annual frequency are used to examine the occurrence of longterm and short-term cointegration links using Johansen and Granger tests. The empirical estimates are calculated for the 2005 - 2015 period, which includes the global financial crisis. The findings indicate that select microeconomic factors do not belong to the group of economic fun damentals that affect the stock returns.

Název v anglickém jazyce

Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?

Popis výsledku anglicky

The stock prices of companies are influenced by many variables; two basic categories are macroeconomic and microeconomic factors. The objective of this paper is to analyze the existence of a relationship between select microeconomic variables and the stock returns of financial sector companies listed on the Vienna Stock Exchange. The institutions that were chosen are Immofinanz AG, Raiffeisen Bank International AG, Erste Group Bank AG, Uniqa Insurance Group AG and Vienna Insurance Group AG. The focus is on Austria due to the lack of empirical literature on problematics of linkages between stock prices and microeconomic factors. A time series with an annual frequency are used to examine the occurrence of longterm and short-term cointegration links using Johansen and Granger tests. The empirical estimates are calculated for the 2005 - 2015 period, which includes the global financial crisis. The findings indicate that select microeconomic factors do not belong to the group of economic fun damentals that affect the stock returns.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 8th International Scientific Conference

ISBN

9788074546532

ISSN

—

e-ISSN

—

Počet stran výsledku

10

Strana od-do

582-591

Název nakladatele

Tomas Bata University

Místo vydání

Zlín

Místo konání akce

Zlín

Datum konání akce

26. 4. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—