Artikel
The role of main microeconomic factors on the stock prices of selected Swiss companies
This paper examines the role of main microeconomic factors on the stock prices of selected Swiss companies listed on the Six Swiss Exchange. Two basic theoretical approaches and interpretations of this relationship are frequently used. The efficient market hypothesis (Fama, 1970) assumes that stock prices already contain all the relevant information and the theory of arbitration (Ross, 1976, or Chen et al., 1986). The microeconomic factors are based on the financial situation in companies. Financial ratios, taken from the financial statements of the individual companies, are used for the analysis. In general, the study confirmed that profitability and debt ratios are the most important business factors from the prospective of impact on stock prices. The relationship between the observed variables is explored using panel regression analysis. The generalized method of moments for constructing a regression model is used. The sample period of the dataset is composed of annual data from 2006 to 2015.
- Language
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Englisch
- Bibliographic citation
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Journal: Financial Internet Quarterly ; ISSN: 2719-3454 ; Volume: 16 ; Year: 2020 ; Issue: 1 ; Pages: 67-74 ; Warsaw: Sciendo
- Classification
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Wirtschaft
Financial Econometrics
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
- Subject
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Financial ratios
panel regression
stock prices
- Event
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Geistige Schöpfung
- (who)
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Pražák, Tomáš
- Event
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Veröffentlichung
- (who)
-
Sciendo
- (where)
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Warsaw
- (when)
-
2020
- DOI
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doi:10.2478/fiqf-2020-0007
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Pražák, Tomáš
- Sciendo
Time of origin
- 2020
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