Διερεύνηση της συμπεριφοράς των αποδόσεων των μετοχών στον κλάδο των τηλεπικοινωνιών σε σχέση με τις αποδόσεις του δείκτη
Investigation of the behavior of stock returns in the telecommunications industry in relation to index return
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Keywords
Κλάδος τηλεπικοινωνιών ; Ευρωπαϊκές εταιρείες τηλεπικοινωνιών ; Χρηματιστήριο ; Χρηματιστηριακοί δείκτες ; Μετοχές ; Απόδοση μετοχών ; Απόδοση χρηματιστηριακού δείκτη ; Διαχείριση κινδύνου ; Μοντέλο Αποτίμησης Κεφαλαιακών Στοιχείων (CAPM) ; Πανδημία ; COVID-19Abstract
In the context of present Master Thesis, the Capital Asset Pricing Model (CAPM) was applied and through it, an evaluation was conducted on the stocks of ten selected telecommunications companies in Europe. The countries examined were as follows: Germany, Belgium, Spain, Greece, France, Germany, Portugal, the Netherlands, Sweden, Norway, Spain, Greece, Portugal, Sweden and the United Kingdom. The first chapter analyzed the functioning of the Stock Exchange and explained the fundamental financial elements which compose the stock market. This was followed by a historical overview of its evolution, both globally and for each of the selected countries separately, observing the performance of the respective stock market indices. The second chapter focuses on the progress and evolution of the telecommunications sector over the years, and subsequently, its significance in the global economy is analyzed. Furthermore, reference is made to the role played by the sector during the period of the Covid-19 pandemic, focusing on the major telecommunications companies in each of the selected countries. In the third chapter, the Portfolio Theory of Markowitz is presented, which forms the basis of the CAPM model. In the same chapter, the importance of the model is analyzed, as well as the criticisms it has received from the research community. Finally, in the fourth and last chapter, the analysis of the stocks of the selected companies is completed by applying the CAPM model for two different time periods: one before the start of the pandemic and the other after.This choice was made to assess the degree of influence of the pandemic on the telecommunications sector and how the stock performances of these companies were affected, in comparison to the performances of the respective stock market indices.
Postgraduate Studies Programme
Οικονομική και Επιχειρησιακή ΣτρατηγικήDepartment
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής ΕπιστήμηςNumber of pages
208Language
GreekCollections
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα