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Riskpremien, vad ska man tro? : En studie med facit i hand

by Lindén, Markus; Särnblom, Stellan

Abstract (Summary)
The market risk premium is one of the most important parameters in finance. Its value and the ways to calculate a risk premium for the market is a widely debated subject. This thesis examines numerous ways of calculating a risk premium for the Swedish market with regard to how good an estimation they make of a real risk premium. Estimations based on historical periods ranging from 20 to 85 years is calculated as well as a premium based on forward-looking estimates. The real risk premium is solved out for a selection of companies and an index with the help of CAPM. An examination of these estimates leads to the conclusion that historical estimates of a risk premium may be outdated. The implication of this is that more effort should be put into examining a risk premium based on forward-looking estimates. In this context a thorough analysis of fundamentals should be added into the calculation.
Bibliographical Information:

Advisor:

School:Södertörns högskola

School Location:Sweden

Source Type:Master's Thesis

Keywords:risk premium equity market capm ex post ante implied forward looking swedish

ISBN:

Date of Publication:06/09/2005

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