Refereed article in conference proceedings (A4)
Descriptive analysis of the Finnish stock market: Part II
List of Authors: Peter Nyberg, Mika Vaihekoski
Conference name: Twenty-first annual conference of the mutinational finance society
Place: TWENTY-FIRST ANNUAL CONFERENCE OF THE MULTINATIONAL FINANCE SOCIETY
Publication year: 2014
Book title *: TWENTY-FIRST ANNUAL CONFERENCE OF THE MULTINATIONAL FINANCE SOCIETY
URL: http://www.mfsociety.org/modules/modConferences/uploadFiles/miscFiles/1402475600-Conf-Program-for-Posting-with-Abstracts_2014-06-11.pdf
This paper continues the data collection procedure and analysis set forth in Nyberg and Vaihekoski (2009). A number of new time series that are commonly used in finance literature are collected and created, as well as analyzed for the first time. These series include, among others, monthly dividend yields and market capitalization values. The series are also compared against the GDP to evaluate the overall role of the stock market in the Finnish economy. The value-weighted average dividend yield from 1912 to 1988 is 4.98 percent. The average stock market capitalization to GDP ratio is found to be 15.14 percent.