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[{"key": "dc.contributor.advisor", "value": "Rautiainen, Antti", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Laajisto, Jesse", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2022-05-30T09:36:34Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2022-05-30T09:36:34Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2022", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/81351", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "T\u00e4m\u00e4n pro gradu -tutkielman tarkoituksena on tarkastella tilinp\u00e4\u00e4t\u00f6sjulkaisujen \narvorelevanssia. Tilinp\u00e4\u00e4t\u00f6sjulkaisun sis\u00e4lt\u00e4m\u00e4\u00e4 informaatiota voidaan pit\u00e4\u00e4 ar-\nvorelevanttina silloin, kun sill\u00e4 on vaikutusta osakkeen arvoon. Arvorelevanssia \ntarkastellaan julkaisup\u00e4iv\u00e4n lis\u00e4ksi nelj\u00e4 p\u00e4iv\u00e4\u00e4 ennen ja viisi p\u00e4iv\u00e4\u00e4 j\u00e4lkeen ti-\nlinp\u00e4\u00e4t\u00f6sjulkaisun, jotta my\u00f6s markkinoiden informatiivista tehokkuutta voi-\ndaan analysoida. Tutkittavaksi toimialasektoriksi on valittu Saksan autoteolli-\nsuus, jotta tutkittavien yrityksien harjoittama liiketoiminta olisi mahdollisimman samankaltaista \n Julkaisup\u00e4iv\u00e4n\u00e4 ja sen ymp\u00e4rill\u00e4 tapahtuvaa osakkeen kurssireaktiota tut-\nkitaan tapahtumatutkimuksen menetelmill\u00e4, joissa erotetaan p\u00e4iv\u00e4kohtaisesta \ntodellisesta tuotosta markkinoiden normaali liikehdint\u00e4 eli normaalituotto ja tapahtumasta aiheutunut ep\u00e4normaali tuotto. Tapahtumaikkunan aikaista kurssireaktiota tarkastellaan ensisijaisesti itseisarvoilla, jolloin saadaan muodostettua \nk\u00e4sitys tilinp\u00e4\u00e4t\u00f6sjulkaisun arvorelevanssista. Tapahtumaa tarkastellaan my\u00f6s \ntodellisilla arvoilla, mink\u00e4 avulla saadaan k\u00e4sitys tilinp\u00e4\u00e4t\u00f6sjulkaisujen aiheut-\ntamasta keskim\u00e4\u00e4r\u00e4isest\u00e4 reaktiosta. Lopuksi havaintojen keskiarvoja ja varians-\nseja tarkastellaan yhden otoksen t-testill\u00e4, jotta voidaan muodostaa johtop\u00e4\u00e4t\u00f6ksi\u00e4 tutkittavan ilmi\u00f6n tilastollisesta merkitsevyydest\u00e4. \n Tutkimustulosten mukaan tilinp\u00e4\u00e4t\u00f6sjulkaisujen informaatiosis\u00e4lt\u00f6\u00e4 voidaan pit\u00e4\u00e4 arvorelevanttina, koska julkaisup\u00e4iv\u00e4n\u00e4 on havaittavissa tilastollisesti merkitsevi\u00e4 ep\u00e4normaaleja tuottoja itseisarvolla mitattuna. Julkaisup\u00e4iv\u00e4n\u00e4 ep\u00e4normaalit tuotot ovat suurimmillaan, mutta tilastollisesti merkitsevi\u00e4 \nep\u00e4normaaleja tuottoja esiintyy my\u00f6s julkaisup\u00e4iv\u00e4n j\u00e4lkeisen\u00e4 p\u00e4iv\u00e4n\u00e4 itseisarvoin laskettuna, mik\u00e4 antaa viitteit\u00e4 markkinoiden informatiivisesta tehottomuudesta. My\u00f6s tilinp\u00e4\u00e4t\u00f6sjulkaisua ennen on havaittavissa voimakkaampaa \nosakkeen arvonmuutosta, joka voi johtua informaatiovuodosta tai sijoittajien ennakoinnista muualta saadun tiedon perusteella. Havainto on l\u00e4hell\u00e4 P=0,1-merkitsevyystasoa, mutta ei ole kuitenkaan tilastollisesti merkitsev\u00e4.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Miia Hakanen (mihakane@jyu.fi) on 2022-05-30T09:36:34Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2022-05-30T09:36:34Z (GMT). No. of bitstreams: 0\n Previous issue date: 2022", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "51", "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": "tapahtumatutkimus", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "normaalituotto", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "ep\u00e4normaali tuotto", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Tilinp\u00e4\u00e4t\u00f6sjulkaisujen arvorelevanssi lyhyell\u00e4 aikav\u00e4lill\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-202205302973", "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": "arvonm\u00e4\u00e4ritys", "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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