Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?

@inproceedings{35982,
   author = {Ligocká, Marie},
   address = {Zlín},
   booktitle = {Proceedings of the 8th International Scientific Conference},
   keywords = {financial sector,; Austria; cointegration; financial crisis; financial ratios; stock},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Zlín},
   isbn = {9788074546532},
   pages = {582-591},
   publisher = {Tomas Bata University},
   title = {Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?},
   url = {http://ufu.utb.cz/konference/sbornik2017.pdf},
   year = {2017}
}

TY  - JOUR
ID  - 35982
AU  - Ligocká, Marie
PY  - 2017
TI  - Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?
PB  - Tomas Bata University
CY  - Zlín
SN  - 9788074546532
KW  - financial sector,
KW  - Austria
KW  - cointegration
KW  - financial crisis
KW  - financial ratios
KW  - stock
UR  - http://ufu.utb.cz/konference/sbornik2017.pdf
N2  - The stock prices of companies are influenced by many variables; two basic categories are macroeconomic and microeconomic factors. The objective of this paper is to analyze the existence of a relationship between select microeconomic variables and the stock returns of financial sector companies listed on the Vienna Stock Exchange. The institutions that were chosen are Immofinanz AG, Raiffeisen Bank International AG, Erste Group Bank AG, Uniqa Insurance Group AG and Vienna Insurance Group AG. The focus is on Austria due to the lack of empirical literature on problematics of linkages between stock prices and microeconomic factors. A time series with an annual frequency are used to examine the occurrence of longterm and short-term cointegration links using Johansen and Granger tests. The empirical estimates are calculated for the 2005 - 2015 period, which includes the global financial crisis. The findings indicate that select microeconomic factors do not belong to the group of economic fundamentals that affect the stock returns.
ER  - 

LIGOCKÁ, Marie. Can Financial Ratios Influence the Stock Returns of Financial Sector Companies in Austria?. Online. In \textit{Proceedings of the 8th International Scientific Conference}. Zlín: Tomas Bata University, 2017, s.~582-591. ISBN~9788074546532.