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[{"key": "dc.contributor.author", "value": "Lindqvist, Konsta", "language": null, "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2014-08-20T13:55:36Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2014-08-20T13:55:36Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2014", "language": null, "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.other", "value": "oai:jykdok.linneanet.fi:1444431", "language": null, "element": "identifier", "qualifier": "other", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/44061", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "T\u00e4m\u00e4n ty\u00f6n tarkoituksena on selvitt\u00e4\u00e4, onko Pohjoismaissa havaittavissa alhaisen volatiliteetin anomaliaa ja tutkia volatiliteetin ja osaketuottojen suhdetta. Volatiliteettia mitataan osaketuottojen yhti\u00f6kohtaisella (idiosynkraattisella) volatiliteetilla, sek\u00e4 yksinkertaisella volatiliteetilla. Tutkimuskysymyst\u00e4 tarkastellaan muodostamalla portfolioita osaketuotoista volatiliteetin mukaan. K\u00e4ytett\u00e4v\u00e4 aineisto on Pohjoismaisilta osakemarkkinoilta vuosilta 1990\u20132013. K\u00e4ytetyt hinnoittelumallit ovat CAPM, Fama & French -malli, sek\u00e4 nelj\u00e4n faktorin malli.\n Tutkimuksessa ei havaita koko aineistossa tilastollisesti merkitsev\u00e4\u00e4 alphakerrointa k\u00e4ytetyill\u00e4 hinnoittelumalleilla strategialle, joka ottaa pitk\u00e4n position alhaisen volatiliteetin portfolioissa ja lyhyen position korkean volatiliteetin portfoliossa. Kun aineisto rajataan Ruotsiin ja suuriin /pieniin osakkeisiin, l\u00f6ydet\u00e4\u00e4n my\u00f6s tilastollisesti merkitsevi\u00e4 alphakertoimia. Tukea alhaisen volatiliteetin anomalialle l\u00f6ytyy siten pienist\u00e4 ja suurista yrityksist\u00e4, sek\u00e4 etenkin Ruotsin aineistosta, mutta ei koko otoksesta. Tulokset alhaisen volatiliteetin anomaliasta ovat siten sekalaisia. Korkeimman volatiliteetin portfolioissa havaitaan kuitenkin tilastollisesti merkitsevi\u00e4 kooltaan suurehkoja negatiivisia alphakertoimia. Ty\u00f6ss\u00e4 saadaankin vahva tulos, jonka mukaan korkean riskin (volatiliteetin) osakkeet ovat tuottaneet hyvin heikosti riskikorjattuna ja kyseess\u00e4 olevat yhti\u00f6t ovat my\u00f6s kooltaan pieni\u00e4.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted using Plone Publishing form by Konsta Lindqvist (kovalind) on 2014-08-20 13:55:36.084979. Form: Pro gradu -lomake (https://kirjasto.jyu.fi/julkaisut/julkaisulomakkeet/pro-gradu-lomake). JyX data: [jyx_publishing-allowed (fi) =True]", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by jyx lomake-julkaisija (jyx-julkaisija@noreply.fi) on 2014-08-20T13:55:36Z\nNo. of bitstreams: 2\nURN:NBN:fi:jyu-201408202389.pdf: 429515 bytes, checksum: 4f642136e9d40aab97e0bc2d5ce810ec (MD5)\nlicense.html: 4820 bytes, checksum: 7c1ba71408f110d1060a0aa09bda2917 (MD5)", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2014-08-20T13:55:36Z (GMT). No. of bitstreams: 2\nURN:NBN:fi:jyu-201408202389.pdf: 429515 bytes, checksum: 4f642136e9d40aab97e0bc2d5ce810ec (MD5)\nlicense.html: 4820 bytes, checksum: 7c1ba71408f110d1060a0aa09bda2917 (MD5)\n Previous issue date: 2014", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "1 verkkoaineisto (51 sivua)", "language": null, "element": "format", "qualifier": "extent", "schema": "dc"}, {"key": "dc.format.mimetype", "value": "application/pdf", "language": null, "element": "format", "qualifier": "mimetype", "schema": "dc"}, {"key": "dc.language.iso", "value": "fin", "language": null, "element": "language", "qualifier": "iso", "schema": "dc"}, {"key": "dc.rights", "value": "In Copyright", "language": "en", "element": "rights", "qualifier": null, "schema": "dc"}, {"key": "dc.subject.other", "value": "Idiosynkraattinen volatiliteetti", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "osaketuotot", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "Pohjoismaat", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "anomalia", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Volatiliteetti ja tuotot pohjoismaisilla osakemarkkinoilla", "language": null, "element": "title", "qualifier": null, "schema": "dc"}, {"key": "dc.type", "value": "master thesis", "language": null, "element": "type", "qualifier": null, "schema": "dc"}, {"key": "dc.identifier.urn", "value": "URN:NBN:fi:jyu-201408202389", "language": null, "element": "identifier", "qualifier": "urn", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Pro gradu -tutkielma", "language": "fi", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Master\u2019s 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"Jyv\u00e4skyl\u00e4n yliopisto", "language": "fi", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Kansantaloustiede", "language": "fi", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Economics", "language": "en", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.date.updated", "value": "2014-08-20T13:55:37Z", "language": null, "element": "date", "qualifier": "updated", "schema": "dc"}, {"key": "dc.type.coar", "value": "http://purl.org/coar/resource_type/c_bdcc", "language": null, "element": "type", "qualifier": "coar", "schema": "dc"}, {"key": "dc.rights.accesslevel", "value": "openAccess", "language": "fi", "element": "rights", "qualifier": "accesslevel", "schema": "dc"}, {"key": "dc.type.publication", "value": "masterThesis", "language": null, "element": "type", "qualifier": "publication", "schema": "dc"}, {"key": "dc.subject.oppiainekoodi", "value": "2041", "language": null, "element": "subject", "qualifier": "oppiainekoodi", "schema": "dc"}, {"key": "dc.subject.yso", "value": "volatiliteetti", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "tuotto", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "arvopaperimarkkinat", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "Pohjoismaat", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.format.content", "value": "fulltext", "language": null, "element": "format", "qualifier": "content", "schema": "dc"}, {"key": "dc.rights.url", "value": "https://rightsstatements.org/page/InC/1.0/", "language": null, "element": "rights", "qualifier": "url", "schema": "dc"}, {"key": "dc.type.okm", "value": "G2", "language": null, "element": 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