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Vad är skillnaden mellan finansiella instrument ur en investerares perspektiv?: en kvantitativ studie om skillnader mellan olika finansiella instrument emitterade av samma bolag.
Kristianstad University, School of Health and Society.
Kristianstad University, School of Health and Society.
2015 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
What is the difference between financial securities from an investor's perspective? (English)
Abstract [sv]

Syfte: Syftet med studien är att öka investerares förståelse angående hur olika finansiella instrument som emitterats av samma bolag skiljer sig åt.

Inledning: Den ökade utvecklingen av de finansiella marknaderna har skapat ett ökat utbud av finansiella instrument. Flera företag har även emitterat flera olika finansiella instrument, vilket innebär att investerare står inför ett val av vilket instrument de vill exponera sig emot. Tidigare forskning är oense angående hur dessa instrument skiljer sig åt, då resultaten från tidigare studier har visat sig vara beroende på var studierna genomförs.

Metod: Tidigare studier har använts som grund vid skapandet av studiens hypoteser, vilket innebär att studien är av en deduktiv karaktär. Studiens syfte innebär att stora mängder data analyseras vilket medför att studien är kvantitativ. Studien genomfördes på svenska bolag som emitterat minst två stycken finansiella instrument. Genom att skapa olika jämförelseportföljer som innehåller respektive tillgångsslag kunde vi analysera skillnaderna mellan portföljerna och därmed svara på studiens frågeställning.

Resultat: Resultatet visar att det existerar skillnader mellan olika finansiella instrument som emitterats av samma bolag. Vilket innebär att investerare måste noggrant utvärdera sina valmöjligheter innan de genomför en investering, då risken är högre för finansiella instrument som har en högre rösträtt. 

Nyckelord: Risk, avkastning, riskjusterad avkastning, finansiella instrument, investerare

Abstract [en]

Purpose: The purpose of this dissertation is to enhance investor’s understanding about the differences between various financial securities that are issued by the same company.

Introduction: The development of the financial markets has created an increased range of financial securities. Same companies have also issued various financial securities, which means that the investors face the dilemma of choosing between the options. Previous researches disagree on how these various securities differ from each other, because their results have shown to be dependent on the location of investigation.

Method: Previous studies have been used as the basis for the formulation of this study’s hypothesis, which means that it has a deductive character. The purpose of the study requires large amounts of data to be analyzed, which entails that a quantitative method has been used. The study has analyzed Swedish companies that have issued at least two different securities. By creating various portfolios that contain each security class we have been able to analyze the differences and to answer our research question.

Conclusion: The result shows that there are some differences between various financial securities issued by the same company. This means that investor must carefully evaluate their options before implementing an investment, since the risk is greater for securities with superior voting power.

 Key Words: Risk, return, risk-adjusted return, financial securities, investors

Place, publisher, year, edition, pages
2015. , 67 p.
Keyword [en]
Risk, return, risk-adjusted return, financial securities, investors
Keyword [sv]
Risk, avkastning, riskjusterad avkastning, finansiella instrument, investerare
National Category
Economics Business Administration
Identifiers
URN: urn:nbn:se:hkr:diva-14459OAI: oai:DiVA.org:hkr-14459DiVA: diva2:846363
Educational program
Degree of Bachelor of Science in Business and Economics
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2015-08-19 Created: 2015-08-16 Last updated: 2015-08-19Bibliographically approved

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