Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE credits
Master thesis in Business Administration, Swedish Business School at Örebro
University, spring semester 2012
Authors: Anders Oskarsson & Christian Uhlander
Title: I’m going to make you rich! -With a little help from Piotroski
Research objective: This paper examines whether a simple account-based analysis strategy,
F_SCORE, can improve returns earned by an investor. The results show that F_SCORE generated a
69,7 % annual return between 2001-2010 at the Swedish market, which was better than the further
developed model A_SCORE. Overall, the evidence suggests that the market does not incorporate
historical information into prices in a timely manner.
Methodology: The foundation for this thesis is based on a quantitative approach and empirical
material is gathered from Thomson Reuters Datastream for the Swedish market.
2012. , 35 p.