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[{"key": "dc.contributor.advisor", "value": "Raatikainen, Juhani", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Leikonen, Jerkko", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2020-06-23T07:24:57Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2020-06-23T07:24:57Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2020", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/70160", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "Luottoluokitustapahtumalla tarkoitetaan muutosta valtion tai yhti\u00f6n luottoriski\u00e4 kuvaavassa luottoluokituksessa tai sen n\u00e4kymiss\u00e4. T\u00e4ss\u00e4 tutkimuksessa tutkitaan valtioiden luottoluokitustapahtumien vaikutuksia pankkisektorin markkina arvoon aikav\u00e4lill\u00e4 1990-2018. Luottoluokittajat ja niiden tekem\u00e4t arviot luottoriskist\u00e4 nousivat akateemiseen keskusteluun finanssikriisin j\u00e4lkeen, luottoluokitusyhti\u00f6iden ep\u00e4onnistuessa luottoriskiarvioissaan aiheuttaen negatiivi-\nsen kontribuution finanssikriisin syventymiseen ja vaikutuksiin reaalitaloudessa.\nTutkimuksen empiirisess\u00e4 osiossa estimoidaan Saksan, Portugalin, Italian, Irlannin, Kreikan sek\u00e4 Espanjan pankkien ep\u00e4normaalit osaketuotot valtion luottoluokitustapahtumien seurauksena. Tutkimusmetodina k\u00e4ytet\u00e4\u00e4n tapahtuma-\ntutkimusmenetelm\u00e4\u00e4 , jossa hy\u00f6dynnet\u00e4\u00e4n GARCH-mallia regression residuaaleille, menetelm\u00e4n kyetess\u00e4 suhteuttamaan tapahtumahetken volatiliteetin tuloksiin.\nTulokset osoittavat osan luottoluokitustapahtumista sis\u00e4lt\u00e4v\u00e4n informaatioarvoa ja aiheuttavan ep\u00e4normaaleja osaketuottoja pankkisektorilla riippuen kuitenkin valtiosta, tapahtumasta, aikaikkunasta sek\u00e4 ajanhetkest\u00e4. Hajanaisten\ntulosten valossa n\u00e4ytt\u00e4\u00e4 silt\u00e4, ett\u00e4 ep\u00e4normaalin tuoton muodostuminen luottoluokitustapahtuman seurauksena on monen tekij\u00e4n kombinaatio, eik\u00e4 homogeenisena otantana tutkimisen ja tulosten analysoinnin perusteella voida tehd\u00e4\nyleisp\u00e4tevi\u00e4 valtioiden rajoja ylitt\u00e4vi\u00e4 johtop\u00e4\u00e4t\u00f6ksi\u00e4 ilmi\u00f6n vaikutuksesta pankkisektorin osaketuottoihin. Pankkikohtaisten tunnuslukujen analysointi osoittaa beta-kertoimella, velan suhteella yritysarvoon sek\u00e4 p\u00e4\u00e4omavarannolla olevan tilastollisten ep\u00e4normaalien osaketuottojen esiintymistodenn\u00e4k\u00f6isyyksiin vaikut-\ntava merkitys luottoluokitustapahtumien seurauksena.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Miia Hakanen (mihakane@jyu.fi) on 2020-06-23T07:24:57Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2020-06-23T07:24:57Z (GMT). No. of bitstreams: 0\n Previous issue date: 2020", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "106", "language": "", "element": "format", "qualifier": "extent", "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": "luottoluokitustapahtuma", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "luottoluokitusmuutos", "language": "", "element": "subject", "qualifier": "other", "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.subject.other", "value": "informaatioarvo", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "pankkisektori", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Valtion luottoluokitustapahtumien vaikutukset pankkien markkina-arvoon Saksassa ja PIIGS-valtioissa", "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-202006234338", "language": "", "element": "identifier", "qualifier": "urn", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Master\u2019s thesis", "language": "en", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Pro gradu -tutkielma", "language": "fi", "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": "Taloustiede", "language": "fi", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Economics", "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": "2041", "language": "", "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": "luottoluokitukset", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "pankit", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.rights.url", "value": "https://rightsstatements.org/page/InC/1.0/", "language": null, "element": "rights", "qualifier": "url", "schema": "dc"}]
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