A 21st Century Breakdown? The Development of Capital Market Anomalies and Market Turnover in Finland

dc.contributorAalto Universityen
dc.contributorAalto-yliopistofi
dc.contributor.advisorSpickers, Theresa
dc.contributor.authorLindfors, Lauri
dc.contributor.departmentRahoituksen laitosfi
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2019-12-29T17:03:46Z
dc.date.available2019-12-29T17:03:46Z
dc.date.issued2019
dc.description.abstractThis thesis studies the existence and development of capital market anomalies in Finland during the 21st century. In theory, factors that reduce trading frictions should lead to more efficient markets and thus attenuating anomaly returns. I study whether the changes in market turnover has the kind of effect on seven capital market anomalies. Three of the seven anomalies are statistically significant during the time period. I do not find evidence of the anomalies decreasing over time. Furthermore, I find that the market turnover in Finland has had a negative trend during the 21st century. I find weak evidence of anomalies having an inverse trend with market turnover and by using the quantile regression method I find more extreme values of the anomalies having a stronger reaction to changes in market turnover.en
dc.format.extent31
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/41827
dc.identifier.urnURN:NBN:fi:aalto-201912296773
dc.language.isoenen
dc.programmeRahoitusen
dc.subject.keywordMarket Efficiencyen
dc.subject.keywordAsset Pricingen
dc.subject.keywordCapital Market Anomaliesen
dc.subject.keywordMarket Turnoveren
dc.titleA 21st Century Breakdown? The Development of Capital Market Anomalies and Market Turnover in Finlanden
dc.typeG1 Kandidaatintyöfi
dc.type.ontasotBachelor's thesisen
dc.type.ontasotKandidaatintyöfi
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