Μελέτη κινδύνου σε αποδόσεις μετοχών για επιλεγμένες ευρωπαϊκές εταιρείες τηλεπικοινωνιών
Risk analysis in stock returns for selected european telecommunication companies
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Keywords
Χρηματιστήριο ; Χρηματιστηριακοί δείκτες ; Διαχείριση κινδύνου ; Απόδοση μετοχών ; Μοντέλο Αποτίμησης Κεφαλαιακών Στοιχείων ; Εταιρίες τηλεπικοινωνιών ; Κλάδος τηλεπικοινωνιώνAbstract
In the context of the present thesis, the Capital Asset Pricing Model was applied on stocks of
selected European telecommunication companies. In specific, 6 different European countries
were studied, three northern (Belgium, France, Germany) and three southern (Greece, Spain,
Portugal) and the most powerful (telecommunication) company was chosen out of each
country. In the first chapter, the function and the as basic concepts of stock exchange are
analyzed, followed by a historical recap of its evolution on a global scale as well as individually
on each country. The second chapter treats the trajectory and growth of telecommunications
over the years and the importance of the industry in the global economy as well as the
individual local economy of the studied countries. Furthermore, the thesis touches on the role
the industry played during the pandemic, including its part in dealing with the health crisis
and the problems it created for the everyday life of people. In the last chapter, is presented
Markowitz’s portfolio theory, being the base of CAPM which is analyzed next. The current
thesis is concluding with the stock analysis of the selected companied and the application of
CAPM in two different time periods, before and during the Covid-19 outbreak respectively.
The timelines were chosen in order to show how the degree in which the industry was
affected by the pandemic.