Impact of company performances on the stock price: An empirical analysis on select companies in Serbia
The global financial crisis of the late 2007 has provoked unprecedented shocks to the world markets and weaken investors' confidence due to the turbulent movements and frequent changes of stock prices. Emerging capital markets suffer from unsatisfactory corporate governance, market manipulation...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Naučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, Bukurešt
2017-01-01
|
| Series: | Ekonomika Poljoprivrede (1979) |
| Subjects: | |
| Online Access: | http://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2017/0352-34621702561M.pdf |
| _version_ | 1811296612813635584 |
|---|---|
| author | Milošević-Avdalović Snežana Milenković Ivan |
| author_facet | Milošević-Avdalović Snežana Milenković Ivan |
| author_sort | Milošević-Avdalović Snežana |
| collection | DOAJ |
| description | The global financial crisis of the late 2007 has provoked unprecedented shocks to the world markets and weaken investors' confidence due to the turbulent movements and frequent changes of stock prices. Emerging capital markets suffer from unsatisfactory corporate governance, market manipulation and insider trade problems. In such circumstances, institutional investors, managers, analysts and other market participants are in constant search of the trading strategy that will outperform the market. This research is an instrument for the identification of the main determinants of stock prices on the Belgrade Stock Exchange. The panel data regression analysis includes 42 companies that represent the composition of the BelexLine index for the period from 2010 to 2014. The paper looks at the impact of specific (internal) variables of companies, such as company size, return on assets, return on equity, earnings per stock, book value, price-earning ratio, price-to-book ratio and leverage and the stock price of companies that compose the BelexLine index. The results indicate that variables such as the size of the company measured by assets, return on assets, leverage, earnings per stock, book value and price-to-book ratio provide a unique contribution to a statistically significant predictor of stock prices. |
| first_indexed | 2024-04-13T05:51:06Z |
| format | Article |
| id | doaj.art-2ed9fad0b1224216b5c6d7e299679fdd |
| institution | Directory Open Access Journal |
| issn | 0352-3462 2334-8453 |
| language | English |
| last_indexed | 2024-04-13T05:51:06Z |
| publishDate | 2017-01-01 |
| publisher | Naučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, Bukurešt |
| record_format | Article |
| series | Ekonomika Poljoprivrede (1979) |
| spelling | doaj.art-2ed9fad0b1224216b5c6d7e299679fdd2022-12-22T02:59:46ZengNaučno društvo agrarnih ekonomista Balkana, Beograd; Institut za ekonomiku poljoprivrede, Beograd i Akademija ekonomskih nauka, BukureštEkonomika Poljoprivrede (1979)0352-34622334-84532017-01-0164256157010.5937/ekoPolj1702561M0352-34621702561MImpact of company performances on the stock price: An empirical analysis on select companies in SerbiaMilošević-Avdalović Snežana0Milenković Ivan1University of Novi Sad, Faculty of Economy, Subotica, SerbiaUniversity of Novi Sad, Faculty of Economy, Subotica, SerbiaThe global financial crisis of the late 2007 has provoked unprecedented shocks to the world markets and weaken investors' confidence due to the turbulent movements and frequent changes of stock prices. Emerging capital markets suffer from unsatisfactory corporate governance, market manipulation and insider trade problems. In such circumstances, institutional investors, managers, analysts and other market participants are in constant search of the trading strategy that will outperform the market. This research is an instrument for the identification of the main determinants of stock prices on the Belgrade Stock Exchange. The panel data regression analysis includes 42 companies that represent the composition of the BelexLine index for the period from 2010 to 2014. The paper looks at the impact of specific (internal) variables of companies, such as company size, return on assets, return on equity, earnings per stock, book value, price-earning ratio, price-to-book ratio and leverage and the stock price of companies that compose the BelexLine index. The results indicate that variables such as the size of the company measured by assets, return on assets, leverage, earnings per stock, book value and price-to-book ratio provide a unique contribution to a statistically significant predictor of stock prices.http://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2017/0352-34621702561M.pdfcompany performancesstock pricesregression analysis |
| spellingShingle | Milošević-Avdalović Snežana Milenković Ivan Impact of company performances on the stock price: An empirical analysis on select companies in Serbia Ekonomika Poljoprivrede (1979) company performances stock prices regression analysis |
| title | Impact of company performances on the stock price: An empirical analysis on select companies in Serbia |
| title_full | Impact of company performances on the stock price: An empirical analysis on select companies in Serbia |
| title_fullStr | Impact of company performances on the stock price: An empirical analysis on select companies in Serbia |
| title_full_unstemmed | Impact of company performances on the stock price: An empirical analysis on select companies in Serbia |
| title_short | Impact of company performances on the stock price: An empirical analysis on select companies in Serbia |
| title_sort | impact of company performances on the stock price an empirical analysis on select companies in serbia |
| topic | company performances stock prices regression analysis |
| url | http://scindeks-clanci.ceon.rs/data/pdf/0352-3462/2017/0352-34621702561M.pdf |
| work_keys_str_mv | AT milosevicavdalovicsnezana impactofcompanyperformancesonthestockpriceanempiricalanalysisonselectcompaniesinserbia AT milenkovicivan impactofcompanyperformancesonthestockpriceanempiricalanalysisonselectcompaniesinserbia |