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Småbolagseffekten: En studie om småbolagseffektens existens på den svenska aktiemarknaden
Örebro University, Örebro University School of Business.
Örebro University, Örebro University School of Business.
2013 (Swedish)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The small firm effect was first recognized by Banz (1981). He found that small firms had a higher risk-adjusted return than large firms. The purpose of this study is to examine the relationship between risk-adjusted return and firm size on the Swedish stock market. The study has a quantitative methodology where the risk-adjusted return is explained by size, dividend yield, market-to-book ratio and earnings yield. The main conclusion of the study is that there is not a constant small firm effect between the years of 2003 to 2012. The results show signs of an opposite effect where the large firms earn a higher risk-adjusted return than small firms. This could be a result of a volatile time period including a recession that the larger firms handle better because of their stability. 

Place, publisher, year, edition, pages
2013. , p. 49
Keywords [sv]
Småbolagseffekten
National Category
Business Administration
Identifiers
URN: urn:nbn:se:oru:diva-29538ISRN: ORU-HHS/FEK-AS-2013/0044--SEOAI: oai:DiVA.org:oru-29538DiVA, id: diva2:628228
Subject / course
Företagsekonomi
Presentation
2013-06-05, Örebro, 14:36 (Swedish)
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2013-07-02 Created: 2013-06-13 Last updated: 2017-10-17Bibliographically approved

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