Change search
ReferencesLink to record
Permanent link

Direct link
Investerande i hög direktavkastning på den svenska aktiemarknaden: En empirisk studie av investeringsstrategin Dogs of the Dow applicerad på den svenska aktiemarknaden mellan åren 2004–2010
Södertörn University College, School of Business Studies.
Södertörn University College, School of Business Studies.
2011 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Investing in high dividend-yield on the Swedish stock market : An empirical study of the investment strategy Dogs of the Dow applied to the Swedish stock market between the years 2004–2010 (English)
Abstract [sv]

Problemformulering: Går det att uppnå en signifikant återkommande överavkastning samt riskjusterad överavkastning i förhållande till den svenska aktiemarknaden genom systematiskt följande av investeringsstrategin “Dogs of the Dow”?

Syfte: Syftet är att undersöka huruvida teorin ”Dogs of the Dow” är applicerbar på den svenska aktiemarknaden i sökandet efter en signifikant återkommande överavkastning i förhållande till marknaden. Med detta hoppas det finnas en positiv differens av den riskjusterade överavkastningen gentemot index.

Metod: Studien samlar in primärdata för empirin via SIX Trust, SIX Edge samt från Riksbankens hemsida. Sekundärdata härstammar från vetenskapliga artiklar uthämtade från främst JStor och EBSCO Host. Även studentlitteratur, tidigare studier utgör sekundärdata. Studien tillämpar befintliga teorier för att via modeller studera studiens syfte.

Resultat: Resultatet anses av författarna vara imponerande. Portföljerna sammansatta i enlighet med investeringsstrategin ”Dogs of the Dow” presterar till de skådade faktorerna i genomsnitt över lag bättre än jämförelseindexen SIXRX och SIX30RX. Resultaten kan dock inte fastställas statistiskt men författarna önskar skilja på statistisk och praktisk signifikans då en möjlig kumulativ effekt genererar enorm förmögenhetsutveckling.

Abstract [en]

Problem: Is it possible to receive a reoccurring significant abnormal return as well as risk adjusted abnormal return against the Swedish stock market through systematic appliance of the investment strategy ”Dogs of the Dow”?

Objective: The objective is to study whether the theory ”Dogs of the Dow” is applicable on the Swedish stock market in the search of a significant reoccurring abnormal return against the market. The hopes are to find a positive difference between the risk adjusted abnormal return and index.

Method: The study collects the primary empirical data through SIX Trust, SIX Edge as well as from the Swedish central bank. The secondary data is derived from scientific articles, student literature, and previous studies. Models are used to study the objective.

Results: The authors find the results to be impressive. The portfolios structured through the investment strategy “Dogs of the Dow” outperform the comparison indices SIXRX and SIX30RX in general on all the observed accounts. The results can although not be stated as statistically significant within any reasonable confidence levels, but the authors would like to emphasize the difference between the terms statistically and practically significant. This since cumulative gains could contribute to a massive gain of wealth which could be practically significant for the long-term investor.

Place, publisher, year, edition, pages
2011. , 104 p.
Keyword [en]
Dogs of the Dow, Dividend yield, Investment strategy, Abnormal return, SIX Trust, Treynor’s, Jensens alpha, Holding Period Return.
Keyword [sv]
Dogs of the Dow, Direktavkastning, Investeringsstrategi, Överavkastning, SIX Trust, Treynor’s, Jensens alfa, Holding Period Return.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:sh:diva-9008OAI: oai:DiVA.org:sh-9008DiVA: diva2:421871
Subject / course
Business Studies
Presentation
2011-05-31, MA636, Södertörns högskola, Alfred Nobels allé 7, Flemingsberg, 141 89 Huddinge, 10:00 (Swedish)
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2011-06-13 Created: 2011-06-09 Last updated: 2011-06-13Bibliographically approved

Open Access in DiVA

fulltext(4991 kB)702 downloads
File information
File name FULLTEXT01.pdfFile size 4991 kBChecksum SHA-512
b52e2ab76f7b6f59a25f4b24f83a4eb5b586920c1ebddf32718d8edd7b40dc94a062bffab5078a4044a37cb340ec40ebe5264f1b136347574d3783fbc248a6a4
Type fulltextMimetype application/pdf

Search in DiVA

By author/editor
Wallenius, ChristofferShamon, Jimmy
By organisation
School of Business Studies
Business Administration

Search outside of DiVA

GoogleGoogle Scholar
Total: 702 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Total: 654 hits
ReferencesLink to record
Permanent link

Direct link