| fullrecord |
[{"key": "dc.contributor.advisor", "value": "Lehkonen, Heikki", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Pyk\u00e4ri, Jasu", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2021-06-10T07:34:23Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2021-06-10T07:34:23Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2021", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/76411", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "T\u00e4m\u00e4n ty\u00f6n tarkoituksena on selvitt\u00e4\u00e4 kuinka IT-sektorin eri toimialojen osakkeet ovat kehittyneet Yhdysvaltojen osakemarkkinoilla. K\u00e4ytett\u00e4v\u00e4 aineisto on vuodesta 2003 vuoteen 2021 asti ja koostuu IT-sektorin sis\u00e4lt\u00e4mist\u00e4 kuudesta eri toimialasta. Toimialaindeksit pit\u00e4v\u00e4t sis\u00e4ll\u00e4\u00e4n S&P 500 listattuja osakkeita, jotka m\u00e4\u00e4ritell\u00e4\u00e4n The Global Industry Classification Standardin mukaisesti kuuluvaksi tietylle toimialalle. Toimialojen v\u00e4lill\u00e4 on odotetusti vahvaa korrelaatiota, koska toimialojen liiketoiminnat liittyv\u00e4t toisiinsa ja ne t\u00e4ydent\u00e4v\u00e4t toisiaan tuotteiden sek\u00e4 palveluiden osalta. Toimialaindeksien osakemarkkinakehityst\u00e4 on tutkittu relevanteilla mittareilla jotka ottavat my\u00f6s riskin huomioon. Toimialoista parhaiten on menestynyt technology hardware, storage & peripherals. Tuloksista huomataan, ett\u00e4 koko sektori on menestynyt hyvin 2000-luvulla ja onnistunut saavuttaamaan suurimman painoarvon S&P 500 indeksiss\u00e4. T\u00e4m\u00e4n lis\u00e4ksi moni maailman arvokkaimmista yhti\u00f6ist\u00e4 tulee juuri IT-sektorilta. IT-sektorin menestyst\u00e4 ja siihen liittyvi\u00e4 tekij\u00f6it\u00e4 on avattu kattavasti sektorikatsauksessa.\n Tutkielmassa toteutetaan regressioanylyysi toimialaindeksien ja faktorimallien v\u00e4lill\u00e4, tarkoitus on tutkia kuinka paljon faktorimallit pystyv\u00e4t selitt\u00e4m\u00e4\u00e4n eri toimialojen kehityksest\u00e4. Tutkimuksessa k\u00e4ytetyt faktorimallit ovat Faman ja Frenchin kolmen faktorin malli, Carhartin nelj\u00e4n faktorin malli ja Faman ja Frenchin viiden faktorin malli. Tutkimuksessa havaitaan tilastollisesti merkitt\u00e4vi\u00e4 alphakertoimia k\u00e4ytetyill\u00e4 faktorimalleilla, mutta niiden tilastollinen merkitt\u00e4vyys on heikolla tasolla. T\u00e4ten faktorimallien avulla ei voida saavuttaa ylituottoa valituissa toimialaindekseiss\u00e4. Eri mallien selitysasteet ovat hyvin l\u00e4hell\u00e4 toisiaan ja faktorien lis\u00e4\u00e4misell\u00e4 ei saavuteta merkitt\u00e4v\u00e4\u00e4 parannusta mallin selitysasteeseen.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.abstract", "value": "The purpose of this work is to find out how different industries in the IT sector have behaved in the stock market of the United States. The material to be used for research is from 2003 to 2021. The six industries in the IT sector are represented by the industry in-dices of companies listed on the S&P 500. The stocks are divided into industries according to The Global Industry Classification Standard. As expected, there is a strong correlation between industries, due to their interdependence in business activities. The stock market development of the industries has been studied with relevant indicators that also take risk into account. The most successful industry is technology hardware, storage & peripherals. The results show that the whole sector has done well in the 21st century and managed to achieve the highest weight in the S&P 500 index, and many of the world's most valuable companies come from the IT sector. The success of the IT sector and related factors have been comprehensively opened in the sector review.\n In the study regression analysis is conducted to explain the success of the industry indices. The degree of explanation is tested against factor models. The factor models used in the study are Fama\u2013French three-factor model, Carhart four-factor model, and Fama\u2013French five-factor model. The study finds statistically significant alpha coefficients from the used factor models, but their statistical significance is low. As a result, factor models cannot be used to achieve excess returns in the selected industry indices. The explanatory rates of the models are close to each other and the addition of factors does not make a significant improvement in the explanatory rate of the model.", "language": "en", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Paivi Vuorio (paelvuor@jyu.fi) on 2021-06-10T07:34:23Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2021-06-10T07:34:23Z (GMT). No. of bitstreams: 0\n Previous issue date: 2021", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "55", "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": "eng", "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": "stock market", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "United States", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "factor model", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "VAR", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Information technology sector : stock market perspective", "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-202106103620", "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": "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": "regressioanalyysi", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "tietotekniikka-ala", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "rahoitusmarkkinat", "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": "regression analysis", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "information technology sector", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "financial markets", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "security market", "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"}]
|