The Effect of Financial Ratios on the Stock Prices: Evidence from the Polish Stock Exchange

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F19%3AA0000077" target="_blank" >RIV/47813059:19520/19:A0000077 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.vsfs.cz/periodika/acta-2019-1-03.pdf" target="_blank" >https://www.vsfs.cz/periodika/acta-2019-1-03.pdf</a>

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

The Effect of Financial Ratios on the Stock Prices: Evidence from the Polish Stock Exchange

Popis výsledku v původním jazyce

Stock prices can be influenced by many factors; the macroeconomic factors, industrial specifics and company characteristics are three main categories. The object of this paper is to analyze relationship between selected financial ratios and stock prices of the food, energy, metallurgical and chemical companies listed on the Polish Stock Exchange (Giełda Papierów Wartościowych w Warszawie, GPW) over the 2006–2015 period. The Johansen test that investigates long-term equilibrium between stock prices and financial ratios is used. The short-run dynamics of the long-term equilibrium relationship will be examined using the Vector Error Correction Model (VECM). The panel regression method that analyze relationships between data set in two-dimensional space follows. The findings indicate the impact of the rentability, the liquidity and the financial leverage to the selected stock prices of companies listed on the GPW.

Název v anglickém jazyce

The Effect of Financial Ratios on the Stock Prices: Evidence from the Polish Stock Exchange

Popis výsledku anglicky

Stock prices can be influenced by many factors; the macroeconomic factors, industrial specifics and company characteristics are three main categories. The object of this paper is to analyze relationship between selected financial ratios and stock prices of the food, energy, metallurgical and chemical companies listed on the Polish Stock Exchange (Giełda Papierów Wartościowych w Warszawie, GPW) over the 2006–2015 period. The Johansen test that investigates long-term equilibrium between stock prices and financial ratios is used. The short-run dynamics of the long-term equilibrium relationship will be examined using the Vector Error Correction Model (VECM). The panel regression method that analyze relationships between data set in two-dimensional space follows. The findings indicate the impact of the rentability, the liquidity and the financial leverage to the selected stock prices of companies listed on the GPW.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

Acta VŠFS

ISSN

1802-792X

e-ISSN

1802-7946

Svazek periodika

2019

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

17

Strana od-do

44-60

Kód UT WoS článku

—

EID výsledku v databázi Scopus

—