Detailed Information on Publication Record
2018
The Empirical Linkages between Stock Prices of Swiss Firms and Financial Ratios
LIGOCKÁ, MarieBasic information
Original name
The Empirical Linkages between Stock Prices of Swiss Firms and Financial Ratios
Authors
LIGOCKÁ, Marie (203 Czech Republic, guarantor, belonging to the institution)
Edition
Karviná, Proceedings of 11th International Scientific Conference - Karviná Ph.D. Conference on Business And Economics, p. 43-52, 10 pp. 2018
Publisher
Silesian University
Other information
Language
English
Type of outcome
Stať ve sborníku
Field of Study
50202 Applied Economics, Econometrics
Confidentiality degree
není předmětem státního či obchodního tajemství
Publication form
electronic version available online
References:
RIV identification code
RIV/47813059:19520/18:00011169
Organization unit
School of Business Administration in Karvina
ISBN
978-80-7510-322-2
Keywords in English
Stock prices; Switzerland; Industry; Financial ratios; Cointegration
Změněno: 21/11/2019 15:05, RNDr. Daniel Jakubík
Abstract
V originále
Investors evaluate the situation of companies based on available information and this is reflected in stock prices. The factors that can influence the stock prices can be defined as macroeconomic variables, industry factors and individual company characteristics. Each of these factors could affect stock prices; this study is focused on the financial ratios reflected business activity of companies. The object of the paper is to examine the relationship between selected financial ratios and the stock prices of energy, metallurgical and chemical companies listed on the SIX Swiss Exchange over the 2009 - 2017 period. The Johansen cointegration test is used to examine the long-run equilibrium relationship between the stock prices and selected variables. According to the theory there is expected positive impact of the ROA, the ROE and the DR on stock prices of selected companies, and negative influence of the ER on stock prices of analysed Swiss companies.