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Afkast Og Risiko Ved Aktieinveste-Ringer På Kort Og Lang Sigt

Listed author(s):
  • Nielsen, Steen

    (Department of Economics, Copenhagen Business School)

  • Risager, Ole

    (Department of Economics, Copenhagen Business School)

Registered author(s):

    Dette papir beskriver afkast og risici ved investering i det danske aktiemarked over en lang historisk periode. Det er almindeligt kendt, at aktier giver et højt gennemsnitligt afkast sammenlignet med obligationer mod til gengæld at være mere risikable på kort sigt. Derimod er det mere kontroversielt, om risikoen ved langsigtede aktieinvesteringer stiger fuldt ud ligeså meget som det forventede afkast. Papiret indeholder resultater, der viser, at gode aktieår i Danmark har tendens til at efterfølges af dårlige år og omvendt. På grund af denne tendens til mean reversion er aktieinvestering gunstigere for en investor med lang horisont end for én med kort horisont. Mean reversion-fænomenet er desuden mere udpræget i Danmark end i f. eks. USA.

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    Paper provided by Copenhagen Business School, Department of Economics in its series Working Papers with number 02-2001.

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    Length: 22 pages
    Date of creation: 01 Feb 2001
    Handle: RePEc:hhs:cbsnow:2001_002
    Contact details of provider: Postal:
    Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark

    Phone: 38 15 25 75
    Fax: 38 15 34 99
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