| Abstract [eng] |
The aim of master thesis is to conduct an analysis of the relationship between financial ratios and stock return in order to identify the factors that determine changes in stock returns and to assess their impact on stock returns. The work consists of an introduction, three chapters , conclusions, bibliography and appendix. The first part of the work reveals the theoretical aspects of the topic: the stock market and its importance in the economy is analyzed, the application of fundamental and technical analysis in the financial sector, based on empirical research, the author summarizes the fundamental factors influencing stock returns. Theoretical aspects of the stock market presented in the literature shows that the shares of companies traded on the stock market not only attract additional capital for companies seeking to finance their activities, but are one of the most popular investment vehicles. investors choose. Investing in stocks gives the investor the opportunity to earn a profit in the form of dividends or capital gains. An analysis of the impact of fundamentals on stock returns has shown that stock returns can be affected by a company’s financial performance, which can be summarizes as profitability, efficiency, solvency, liquidity and market capitalization indicators. In the second part of work, the author presents methodology on which the study will be conducted. The aim and objectives of the research are described, the research sample and model are presented and the hypotheses on the basis of which the research will be conducted are formulated. In the third part, the analysis of the trends of the analyzed factors is performed, according to the developed econometric models the analysis of the impact of financial results on the return of shares according to the analyzed sectors is performed, and the obtained research results are summarized. |
