- Tytuł:
-
Ryzyko systematyczne akcji spółek zagranicznych notowanych na GPW w Warszawie
Systematic Risk of Dual Listed Stocks from Warsaw Stock Exchange - Autorzy:
- Feder-Sempach, Ewa
- Powiązania:
- https://bibliotekanauki.pl/articles/587511.pdf
- Data publikacji:
- 2014
- Wydawca:
- Uniwersytet Ekonomiczny w Katowicach
- Tematy:
-
Analiza ryzyka
Giełda papierów wartościowych
Kapitał zagraniczny
Ryzyko systemowe
Spółki giełdowe
Foreign capital
Risk analysis
Stock market
Stock market companies
Systemic risk - Opis:
- This paper examines Systematic Risk of Dual Listed Stocks on Warsaw Stock Exchange. With rapid globalization of capital markets and economic integration in last years, more and more stocks are listed on more than one stock exchange which is called dual listing. The main objective of this paper is to analyze systematic risk of international stocks listed on WSE in period 2008-2013. Beta coefficients were defined by Sharpe one-index model. International stocks listed on Warsaw Stock Exchange were divided in two groups: aggressive stocks and defensive stocks (Non-Cyclical Stocks). The results of the study showed that 7 of 11 were classified as defensive and 4 as aggressive. Defensive stocks remain stable during the various phases of the business cycle, however, during an expansion it performs below the market. Betas of defensive stocks are less than one. Aggressive Stocks generate returns that vary by a larger proportion than overall market returns, their beta exceeds one. This paper contains three parts with introduction and conclusions.
- Źródło:
-
Studia Ekonomiczne; 2014, 186 cz 2; 177-187
2083-8611 - Pojawia się w:
- Studia Ekonomiczne
- Dostawca treści:
- Biblioteka Nauki
Artykuł