• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Value Drivers of Companies in the Construction Sector

Student: Gaerli Yusef

Supervisor: Dmitry Tikhomirov

Faculty: Faculty of Economic Sciences

Educational Programme: Corporate Finance (Master)

Year of Graduation: 2019

In this study, hypotheses were tested on the effectiveness of the Russian stock exchange market, as well as the possibility of using the book value in forecasting stock prices. The purpose of the study is to provide empirical confirmation of the weak form efficiency hypothesis on Russian stock market and to demonstrate the significance of using fundamental parameters in predicting the value of construction companies' stock prices. The study used data from financial statements published during 2012-2018 year. As part of the econometric analysis of the MICEX index, the effects of the Russian stock exchange were revealed in a weak form. Empirical study on Ohlson model shows significance of book value in prediction of stock prices for companies in construction and mining sectors.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses