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[{"key": "dc.contributor.advisor", "value": "Raatikainen, Juhani", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Kuusi, Ilkka", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2023-03-30T10:59:50Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2023-03-30T10:59:50Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2023", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/86205", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "Yritykset listautuvat rahoitusmarkkinoille tarkoituksenaan saada rahoitusta liiketoiminnalle.T\u00e4ll\u00f6in voisi kuvitella, ett\u00e4 listautumisannissa yritys pyrkisi saamaan mahdollisimman suuren rahoituksen toiminnalleen, mutta t\u00e4m\u00e4 ei kaikissa tapauksissa pid\u00e4 paikkaansa. Tehokkaiden markkinoiden periaatteiden mukaan hintojen tulisi kaikissa mahdollisissa tilanteissa heijastaa kaikkea markkinainformaatiota. Kuten kuitenkin sopeutuvien markkinoiden teorian ja prospektiteorian perusteella voidaan todeta, tehokkaat markkinat eiv\u00e4t vaikuta pit\u00e4v\u00e4n paikkaansa kaikissa mahdollisissa tilanteissa. Lyhyell\u00e4 aikav\u00e4lill\u00e4 osakkeet vaikuttavat kirjallisuuden mukaan olevan systemaattisesti alihinnoiteltuja riippumatta markkinasta, koosta ja muista ominaisuuksista. Merkitsev\u00e4sti alihinnoitellut osakkeet vaikuttavat my\u00f6s tuottavan pitk\u00e4ll\u00e4 aikav\u00e4lill\u00e4 muita osakkeita merkitsev\u00e4sti huonommin. Kuitenkintietty\u00e4 vaihtelua yritysten v\u00e4lisess\u00e4 alihinnoittelussa ja pitk\u00e4n aikav\u00e4lin suoriutumisessa voitiin havaita uusien liiketoimintamuotojen ja perinteisten yritysten kohdalla. Molempiin ilmi\u00f6ihin n\u00e4ytt\u00e4v\u00e4t vaikuttavan markkinoiden joko kuuma tai kylm\u00e4 kausi ja sijoittajasentimentin heilahtelu.Tutkielman empiirisess\u00e4 osuudessa p\u00e4\u00e4stiin selvitt\u00e4m\u00e4\u00e4ntutkimuskirjallisuuden esitt\u00e4mien hypoteesien p\u00e4tevyytt\u00e4 vuosille 1995-2020 NASDAQ:sta kootulla aineistolla. Lopulliseksi aineistoksi p\u00e4\u00e4tyi 65 t\u00e4ll\u00e4 aikav\u00e4lill\u00e4 listautunutta yrityst\u00e4. Kvantitatiivisen analyysin perusteella pystyttiin toteamaan, ett\u00e4 kombinaatiolla valittu yritysryhm\u00e4 ja tutkimuskausi ep\u00e4onnistut-tiin nollahypoteesin hylk\u00e4yksess\u00e4 lyhyen aikav\u00e4lin alihinnoittelun suhteen. Pitk\u00e4n aikav\u00e4lin alisuoriutumista havaittiin useilla aikakausilla verrattuna indeksiin, mutta alihinnoiteltujen osakkeiden tapauksessa merkitsev\u00e4 alisuoriutumista ei havaittu. Uusien liiketoimintamuotojen ja perinteisten yritysten vertailussa ei my\u00f6sk\u00e4\u00e4n havaittu tarvittavan suurta merkitsev\u00e4\u00e4 eroa alihinnoittelussa, jolloin my\u00f6s t\u00e4m\u00e4 nollahypoteesi j\u00e4\u00e4 voimaan. Sentimentin ja lyhyen aikav\u00e4linalihinnoittelun korrelaatio ei ollut tarpeeksi merkitsev\u00e4\u00e4 eli nollahypoteesi j\u00e4\u00e4 voimaan. Eri aineistolla ja/tai aikakausilla tutkimustulokset olisivat voineet olla hyvinkin erilaisia, kuten muu tutkimuskirjallisuus on osoittanut.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Miia Hakanen (mihakane@jyu.fi) on 2023-03-30T10:59:50Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2023-03-30T10:59:50Z (GMT). No. of bitstreams: 0\n Previous issue date: 2023", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "68", "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": null, "element": "rights", "qualifier": null, "schema": "dc"}, {"key": "dc.subject.other", "value": "listautumisanti", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "tehokkaat markkinat", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "alihinnoittelu", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "sijoittajasentimentti", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Uusia liiketoimintamuotoja edustavien yritysten listautumisantien alihinnoittelu", "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-202303302340", "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.copyright", "value": "\u00a9 The Author(s)", "language": null, "element": "rights", "qualifier": "copyright", "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": "p\u00f6rssit", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "listautuminen", "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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