PRAŽÁK, Tomáš and Daniel STAVÁREK. The Importance of Financial Ratios in Predicting Stock Price Trends: Evidence from Central European Countries. International Journal of Trade and Global Markets. 2018, vol. 11, No 4, p. 293-305. ISSN 1742-7541. Available from: https://dx.doi.org/10.1504/IJTGM.2018.097275.
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Basic information
Original name The Importance of Financial Ratios in Predicting Stock Price Trends: Evidence from Central European Countries.
Authors PRAŽÁK, Tomáš and Daniel STAVÁREK.
Edition International Journal of Trade and Global Markets, 2018, 1742-7541.
Other information
Original language English
Type of outcome Article in a journal
Field of Study 50206 Finance
Country of publisher Switzerland
Confidentiality degree is not subject to a state or trade secret
WWW URL
Organization unit School of Business Administration in Karvina
Doi http://dx.doi.org/10.1504/IJTGM.2018.097275
Keywords in English Debt ratios; Financial ratios; Generalised method of moments; GMM; Microeconomic factors; Rentability; Stock prices; Visegrad Group
Tags International impact, Reviewed
Changed by Changed by: Miroslava Snopková, učo 43819. Changed: 21/4/2021 10:04.
Abstract
This study examines the effect of primary microeconomic factors on the stock prices of select financial and energy industry companies listed and traded on the Central European Exchanges (Budapest Stock Exchange, Prague Stock Exchange, Bratislava Stock Exchange, or Warsaw Stock Exchange). Microeconomic factors are based on the financial situations at various companies. Financial ratios, gained from the financial statements of the individual companies, are used for the analysis. In general, the paper confirmed that profitability and debt ratios are the most important business factors from the perspective of the impact on stock prices. The existence of the relationship between stock prices and financial ratios is tested with the generalised method of moments (GMM) during the period of 2006 to 2016.
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