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How implied volatilities in energy sector, crude oil and stock market affect the performance of green bond? : Evidence from green bond market
(2020-04-27)
Pro gradu -tutkielma
Pro gradu -tutkielma
This study investigates the connection between the green bond and implied volatility indices from different financial markets such as energy, crude oil and stock market. More specifically, the study examines how these ...
The Informational Role of Implied Volatility : Examining the relation between implied volatility and S&P 100 returns around FOMC announcements
(2020-06-08)
Pro gradu -tutkielma
Pro gradu -tutkielma
Volatility has been a widely discussed subject in financial research and many papers consider it synonymous with the risk of an investment. However, further research has revealed that besides exhibiting the level of risk, ...
Investigating and comparing the premiums and benefits of recent quality-based profitability ratios: Evidence from OMXH
(2020-07-30)
Pro gradu -tutkielma
Pro gradu -tutkielma
The recent development of profitability ratios has led to the discussion whether different measures of profitability have explanatory power for the cross-section of expected returns. During the last few years, the academic ...
The long-run returns of structured investment products : Finnish evidence
(2020-08-24)
Pro gradu -tutkielma
Pro gradu -tutkielma
Most studies state that investing in structured investment products (SIPs) is irrational. This irrationality is due to research findings showing that SIPs favor the issuer and are overpriced. This overpricing is especially ...
Momentum in smart beta exchange-traded funds
(2020-04-27)
Pro gradu -tutkielma
Pro gradu -tutkielma
Momentum is one of the most puzzling pricing anomalies discussed in the academic literature as past returns should not predict future returns under the efficient market theory. Asset pricing models have failed to explain ...
Value in Fundamental Stock Screening: F-Score Investment Strategy Performance and Additional Fundamental Analysis in the US Equity Market
(2020-08-20)
Pro gradu -tutkielma
Pro gradu -tutkielma
The objective in this study is to assess the performance of an F-Score based trading strategy in the US equity market and analyze whether the strategy can be improved by excluding companies that have unreliable earnings ...
Skewness Based Investment Strategies on Commodity Futures
(2020-06-16)
Pro gradu -tutkielma
Pro gradu -tutkielma
Mitton & Vorkink (2007) and Barberis & Huang (2008) have shown that investors exhibit lottery (or skewness) preferences where they prefer assets that have small probabilities of delivering large payoffs. Skewness preferences ...
Green Bond Premium: Evidence from the Corporate Bond Market
(2020-05-20)
Pro gradu -tutkielma
Pro gradu -tutkielma
This thesis investigates the existence of the green bond premium and its determinants through an analysis of 44 corporate green bonds and their matched non-green bonds listed on the Bloomberg Terminal over the period of ...
ENVIRONMENTAL RESPONSIBILITY AND FIRM FINANCIAL PERFORMANCE IN THE NORDIC COUNTRIES
(2020-05-06)
Pro gradu -tutkielma
Pro gradu -tutkielma
Increasing attention of media and the public towards climate change issues and ongoing legislative procedures such as EU ETS and EU Action Plan are pressuring firms to act on behalf of a more sustainable future. As ...
The Performance of Responsible Equity Funds During Market Crises
(2020-04-19)
Pro gradu -tutkielma
Pro gradu -tutkielma
The purpose of this thesis is to study the performance of responsible equity funds during periods market crises. Previous literature has found evidence of outperformance by stocks of responsible companies and responsible ...