4 research outputs found
Mathematical Abstraction, Conceptual Variation and Identity
One of the key features of modern mathematics is the adoption of the abstract method. Our goal in this paper is to propose an explication of that method that is rooted in the history of the subject
Does the Swedish stock market exhibit mean reversion? : A study on the Stockholm Stock Exchange, its sectors and different market conditions
The purpose of this study is to examine whether the returns on the Stockholm Stock Exchange and its different sectors is mean reverting during the period 2003â2019. In addition to the examination of the entire period, the study also examines the periods before, during and after the global financial crisis. Daily, weekly and monthly data is used in combination with three different statistical methods in the form of ADF-tests, KPSS-tests and GPH-tests. The previous research conducted within the area yield different results but the tendency to find support for mean reversion increases during periods of economic uncertainty. The main standpoint used in previous literature and also this study is based on Famas (1970) publication about the efficient market hypothesis (EMH). The results from the entire period are in line with the EMH where no robust indications for mean reversion is found neither for the specific sectors or the index itself. However, when the different periods are examined, in the period following the global financial crisis the healthcare and real estate sector show signs of mean reversion. In summary, the results show more support for mean reversion when the sectors are examined in relation to the entire Stockholm Stock Exchange. The conclusion based on these results is that an investor, in contrast to the EMH, can use the serial correlation in returns for these sectors as an indicator for when to buy and sell assets during periods as the one following the global financial crisis.
Fare-free public transport in Ăstergötland - a profitable measure?
I Ăstergötlands lĂ€n fyller Ăstgötatrafiken en viktig samhĂ€llsroll som ansvariga för kollektivtrafiken. I lĂ€net sker över 30 miljoner resor Ă„rligen med Ăstgötatrafikens buss- och pendeltĂ„gstrafik. I Sverige och internationellt har det tidigare genomförts försök med nolltaxa i kollektivtrafiken, bland annat för att fĂ„ fler att resa kollektivt, för att minska utslĂ€pp och uppnĂ„ tidsbesparingar. Syftet med uppsatsen Ă€r att genomföra en samhĂ€llsekonomisk lönsamhetskalkyl för nolltaxa i kollektivtrafiken i Ăstergötland. Lönsamhetskalkyler bygger pĂ„ vĂ€lfĂ€rdsteori, dĂ€r mĂ„let Ă€r att undersöka om ett projekt ökar vĂ€lfĂ€rden för att slutligen anvĂ€ndas som underlag till beslutsfattare. Arbetets lönsamhetskalkyl visar att nyttorna för samhĂ€llet i första hand bestĂ„r av vĂ€rdet av ökade resor och tidsbesparingar. UtslĂ€pp frĂ„n koldioxid och andra emissioner minskar Ă€ven dĂ„ fler börjar resa kollektivt. Kostnaderna i kalkylen utgörs frĂ€mst av en ökad resursĂ„tgĂ„ng för att möta ett ökat resande. Totalt Ă€r nettonuvĂ€rdet negativt med cirka 0,5 miljoner kronor, vilket indikerar att projektet inte Ă€r lönsamt för samhĂ€llet. Eventuellt Ă€r nettonuvĂ€rdet mer negativt beroende pĂ„ om en omdiskuterad snedvridningseffekt Ă€ven inkluderas i berĂ€kningen. Vidare Ă€r nettonuvĂ€rdet avhĂ€ngigt ett antagande om viss belĂ€ggningsgrad i busstrafiken under högtrafik, varför vidare undersökning kring den faktiska belĂ€ggningsgraden Ă€r av intresse.
Does the Swedish stock market exhibit mean reversion? : A study on the Stockholm Stock Exchange, its sectors and different market conditions
The purpose of this study is to examine whether the returns on the Stockholm Stock Exchange and its different sectors is mean reverting during the period 2003â2019. In addition to the examination of the entire period, the study also examines the periods before, during and after the global financial crisis. Daily, weekly and monthly data is used in combination with three different statistical methods in the form of ADF-tests, KPSS-tests and GPH-tests. The previous research conducted within the area yield different results but the tendency to find support for mean reversion increases during periods of economic uncertainty. The main standpoint used in previous literature and also this study is based on Famas (1970) publication about the efficient market hypothesis (EMH). The results from the entire period are in line with the EMH where no robust indications for mean reversion is found neither for the specific sectors or the index itself. However, when the different periods are examined, in the period following the global financial crisis the healthcare and real estate sector show signs of mean reversion. In summary, the results show more support for mean reversion when the sectors are examined in relation to the entire Stockholm Stock Exchange. The conclusion based on these results is that an investor, in contrast to the EMH, can use the serial correlation in returns for these sectors as an indicator for when to buy and sell assets during periods as the one following the global financial crisis.