Bachelor Thesis from the year 2018 in the subject Business economics - General, grade: 1,0, Justus-Liebig-University Giessen, language: English, abstract: The aim of this thesis is to apply the CAPM and the Fama-French model on the German stock market and to see whether the models hold or not. The research methodology in this thesis is mostly an empirical analysis and adopts the approach of Pamane et. al (2014) and Fama and French (1993). However, I will use a different data set and run the test for the CAPM on single stocks rather than on portfolios in order to avoid covariance problems. Firstly, we will calculate the security market line in a two-step regression and then evaluate the influence of non-linear factors and non-systematic risk factors. In addition, the effects of the financial crisis have to be taken into consideration which is why, dummy variables will be used. However, before we interpret the regression results, we make sure that the data are reliable in the first place and correct them if necessary. For the purpose of assessing the Fama-French model, however, we use a quite different approach and follow the original procedure that was used by Fama and French (1993) themselves. This involves classifying the stocks according to size and value and then building a total of four portfolios. Afterwards, returns are computed and regressed against size and value factors. Even though it is quite common to use, for instance, the DAX or the NASDAQ as proxies, I see the ...
Именные стипендии по приоритетным направлениям учреждены
Недавно был подписан президентом Российской Федерации Дмитрием Медведевым новый указ, направленный на назначение с нового года именных стипендий в высших учебных заведениях страны, занимающихся подготовкой специалистов по пяти наиболее значащим направлениям модернизации российской экономики.
В среду 17 октября Государственная Дума приняла в первом чтении проект закона "Об образовании в РФ", который служит для определения четкой системы уровней образования от дошкольного до послевузовского, сохраняя при этом единый государственный экзамен.