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Röststarka och röstsvaga aktier: En lång-kort handelsstrategi på den svenska aktiemarknaden
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2014 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

In this paper we examine the possibility to perform a long-short trading strategy on NASDAQ OMX Stockholm based on the divergence and convergence between dual class shares with equal cash flow rights. Furthermore, we examine the role of voting rights and liquidity to determine what causes them to diverge. We find that the strategy generates higher returns than index (OMXSPI). The portfolio has a lower risk than a long portfolio consisting out of the same shares, although higher than OMXSPI. We do not find any concluding results on why the stocks tend to diverge and converge.

Place, publisher, year, edition, pages
2014.
Keyword [en]
Mispricings, long-short-strategy, dual-class shares, voting premium, liqiduity discount, cointegration
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-226708OAI: oai:DiVA.org:uu-226708DiVA: diva2:726991
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Available from: 2014-06-19 Created: 2014-06-19 Last updated: 2014-06-19Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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