The Dependence Between Volatility of Share Prices and Shareholder Return of the Companies from WIG-Ukraine Index of Warsaw Stock Exchange
The goal of the research was to present the possibility of application of the risk-return concept for the estimation of the relations between volatility of share prices and shareholder return of the companies participating in WIG-Ukraine Index of Warsaw Stock Exchange. The comparative analysis of WIG Ukraine and WIG20 Indices was also conducted. In the analyzed period the WIG-Ukraine demonstrated decrease in capitalization of its companies and higher volatility comparing to WIG20 Index. The effectiveness of investment in particular Ukrainian firms was inversely correlated with WIG-Ukraine Index: the decrease in correlation coefficient between the share prices' and the Index value led to the reduction of volatility and growth of shareholder return. Generally, the conservative strategy of investment in low volatile shares of Ukrainian companies gave low positive or negative returns on stocks, while aggressive strategy resulted in significant financial losses. The compliance of the risk-return concept regarding the strategies of investment in shares was proved.
Volume (Year): (2013)
Issue (Month): 2 (June)
|Contact details of provider:|| Postal: 10, Heroiv Oborony St., Kyiv, 03680|
Web page: http://www.iaf.kiev.ua/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:iaf:journl:y:2013:i:2:p:54-63. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Serhiy Ostapchuk)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.