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Strategy Of Stock Valuation By Fundamental Analysis

Author

Listed:
  • Baresa, Suzana

    () (Faculty of Tourism and Hospitality Management Opatija)

  • Bogdan , Sinisa

    () (Faculty of Tourism and Hospitality Management Opatija)

  • Ivanovic, Zoran

    () (Faculty of Tourism and Hospitality Management Opatija)

Abstract

Common stock valuation presents one of the most complex tasks in financial analysis. When it attempts to answer on question: „what causes stock price movements? “Then the answer would not relate only on economic factors. There are numerous factors that affect the stock price and they are almost impossible to predict. As one of the best ways to fight against many factors that make the uncertainty, arises fundamental analysis. Fundamental analysis is one of the most widely used methods for estimating price movements of securities which essentially analyses the impact of micro and macro-economic factors on the business of the corporation in order to predict future economic and financial effects. Fundamental analysis also examine various financial statements with the aim to asses a real value of company's stock. This work has the task to systematize knowledge about fundamental analysis, so it can serve as a good base for future research.

Suggested Citation

  • Baresa, Suzana & Bogdan , Sinisa & Ivanovic, Zoran, 2013. "Strategy Of Stock Valuation By Fundamental Analysis," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 4(1), pages 45-51.
  • Handle: RePEc:ris:utmsje:0066
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    File URL: http://utmsjoe.mk/files/Vol.%204%20No.%201/1-5-B-Baresa-Bogdan-Ivanovic.pdf
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    References listed on IDEAS

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    1. Malcolm Baker & Jeffrey Wurgler, 2006. "Investor Sentiment and the Cross-Section of Stock Returns," Journal of Finance, American Finance Association, vol. 61(4), pages 1645-1680, August.
    2. Li, Lifang & Narayan, Paresh Kumar & Zheng, Xinwei, 2010. "An analysis of inflation and stock returns for the UK," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(5), pages 519-532, December.
    3. George Hondroyiannis & Evangelia Papapetrou, 2001. "Macroeconomic influences on the stock market," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 25(1), pages 33-49, March.
    4. Gonzalo, Jesús & Taamouti, Abderrahim, 2011. "The reaction of stock market returns to anticipated unemployment," UC3M Working papers. Economics we1145, Universidad Carlos III de Madrid. Departamento de Economía.
    5. Henri Pagès, 1999. "A note on the Gordon growth model with nonstationary dividend growth," BIS Working Papers 75, Bank for International Settlements.
    6. Mark J. Flannery & Aris A. Protopapadakis, 2002. "Macroeconomic Factors Do Influence Aggregate Stock Returns," Review of Financial Studies, Society for Financial Studies, vol. 15(3), pages 751-782.
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    More about this item

    Keywords

    fundamental analysis; financial indicators; intrinsic value; discount models; stocks;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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