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[{"key": "dc.contributor.advisor", "value": "Rautiainen, Antti", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Pantsu, Niko-Pekka", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2018-11-05T13:23:22Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2018-11-05T13:23:22Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2018", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/60102", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "Yritysostot ovat keskeinen osa yritysstrategiaa, niin maailmanlaajuisesti kuin Suomessakin. Yrityskauppojen tuomaa arvoa tai arvon menetyst\u00e4 on tutkittu kattavasti kansainv\u00e4lisess\u00e4 tutkimuskent\u00e4ss\u00e4, mutta Suomen markkinoilla yritysostotutkimus on j\u00e4\u00e4nyt pienemm\u00e4lle huomiolle. T\u00e4m\u00e4n tutkimuksen tavoitteena on tutkia yrityskaupan tuomaa arvoa p\u00f6rssikurssilla mitattuna sek\u00e4 lyhyell\u00e4 ett\u00e4 pitk\u00e4ll\u00e4 aikaj\u00e4nteell\u00e4. Tutkimus keskittyy ostajayhti\u00f6n arvonkehityksen tarkasteluun. Otoksen yleisen tarkastelun lis\u00e4ksi tutkimuksesta saadut tulokset on analysoitu toimiala- ja markkinakohtaisesti. \nTutkimusaineisto on hankittu Thomson Reuters Eikon \u2013tietokannasta ja koostuu Helsingin p\u00f6rssiss\u00e4 vuosien 2000-2017 aikana toimeenpannuista 132 yritysostosta. M\u00e4\u00e4r\u00e4tyn aikaj\u00e4nteen lis\u00e4ksi aineistoa on rajattu kauppasumman ja hankintaosuuden mukaan. Tarkemmat rajaukset on esitelty tutkielman aineistokappaleessa. Tutkimus on toteutettu tapahtumatutkimuksena ja ep\u00e4normaalien tuottojen laskentakaavoina on k\u00e4ytetty CAAR- ja BHAAR-metodeja. Ep\u00e4normaaleja tuottoja on tarkasteltu 0\u2013100 p\u00f6rssip\u00e4iv\u00e4n tarkasteluikkunassa. \nTutkimustulosten mukaan otoksen yritysostot ovat tuottaneet viiden p\u00e4iv\u00e4n tarkasteluikkunassa (CAAR 5) keskim\u00e4\u00e4rin 2,18% ep\u00e4normaalia tuottoa. Pidemm\u00e4ll\u00e4 100 p\u00f6rssip\u00e4iv\u00e4n aikaj\u00e4nteell\u00e4 (BHAAR 100) ep\u00e4normaali tuotto oli 2,70%. Ostajayhti\u00f6n arvonkehitys oli merkitt\u00e4vint\u00e4 kaupan julkaisu-p\u00e4iv\u00e4n\u00e4, jolloin otoksen keskim\u00e4\u00e4r\u00e4inen ep\u00e4normaali tuotto oli 1,2%. Markkina-aluekohtaisessa analyysissa havaittiin ep\u00e4normaalien tuottojen olevan poikkeuksellisen suuria kotimaisissa, eli Suomeen keskittyneiss\u00e4 yritysostoissa. Toimialakohtaisessa analyysissa tuloksista k\u00e4vi ilmi T&K-painotteisten toimialojen saavuttavan keskim\u00e4\u00e4r\u00e4ist\u00e4 suurempia ep\u00e4normaaleja tuottoja. Toimiala- ja markkinakohtaisessa analyysista saadut tulokset eiv\u00e4t kuitenkaan olleet tilastollisesti merkitsevi\u00e4. Regressioanalyysista nousi kuitenkin esiin lyhyen ja pitk\u00e4n aikaj\u00e4nteen ep\u00e4normaalien tuottojen v\u00e4linen tilastollisesti eritt\u00e4in merkitsev\u00e4 yhteys.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Miia Hakanen (mihakane@jyu.fi) on 2018-11-05T13:23:22Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2018-11-05T13:23:22Z (GMT). No. of bitstreams: 0\n Previous issue date: 2018", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "63", "language": "", "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": "ep\u00e4normaali tuotto", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "tapahtumatutkimus", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Teollinen yritysosto ja ostavan yhti\u00f6n arvonkehitys : n\u00e4ytt\u00f6\u00e4 Helsingin p\u00f6rssist\u00e4", "language": "", "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-201811054628", "language": "", "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 thesis", "language": "en", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Jyv\u00e4skyl\u00e4 University School of Business and Economics", "language": "en", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Jyv\u00e4skyl\u00e4n yliopiston kauppakorkeakoulu", "language": "fi", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.department", "value": "Taloustieteet", "language": "fi", "element": "contributor", "qualifier": "department", "schema": "dc"}, {"key": "dc.contributor.department", "value": "Business and Economics", "language": "en", "element": "contributor", "qualifier": "department", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "Jyv\u00e4skyl\u00e4n yliopisto", "language": "fi", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "University of Jyv\u00e4skyl\u00e4", "language": "en", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Laskentatoimi", "language": "fi", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Accounting", "language": "en", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "yvv.contractresearch.funding", "value": "0", "language": "", "element": "contractresearch", "qualifier": "funding", "schema": "yvv"}, {"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": null, "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": "20421", "language": "", "element": "subject", "qualifier": "oppiainekoodi", "schema": "dc"}, {"key": "dc.subject.yso", "value": "arvo", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "yrityskaupat", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "tuotto", "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": "type", "qualifier": "okm", "schema": "dc"}]
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