Structural Evaluation of Securities’ Rates of Return in Selected Business Sectors on New York Stock Exchange
Structural Evaluation of Securities’ Rates of Return in Selected Business Sectors on New York Stock Exchange

Author(s): Marcin Kalinowski, Grzegorz Krzykowski
Subject(s): Business Economy / Management, Financial Markets, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: rate of return; market behaviour; stock market; NYSE;
Summary/Abstract: The share prices behaviour on the financial market is subject of numerous researches. Technical and fundamental analyses as well as theory of behavioural finance are attempting to demonstrate certain patterns in the share price behaviour of enterprises quoted on the stock exchange. The aim of this work is to evaluate the behavioural heterogeneity of rates of return on shares in selected sectors in the American market (NYSE). The research hypothesis of this work is the claim that share price behaviour, and rates of return on shares are sectors specific rather than global share market specific. Therefore, it is vital that we should conduct the analysis of the homogeneity of rates of return on shares of enterprises from diverse industries. The research is based on an enterprises representing four selected sectors from the American market (energy, trade, finance, health) has been instrumental in pursuing that goal. Detailed analyses have been conducted with the use of data mining methodology. The work has demonstrated the existence of behavioural heterogeneity of rates of return on shares in selected industries. The future research in this domain ought to concentrate on conducting a thorough analysis of homogeneity structure in selected industries so as to determine some regularities in the behaviour share prices in the particular industries.).

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