Research Discussion Papers, Bank of Finland
No 10/2014:
Descriptive analysis of the Finnish stock market: Part II
Peter Nyberg ()
and Mika Vaihekoski
Abstract: 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, created,
and analyzed for the first time. These series include, among others,
monthly dividend yields and market capitalization values. The series are
also compared with 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%. The average stock market capitalization to GDP ratio is
found to be 15.14%.
Keywords: stock market; financial history; dividend yield; capitalization values; trading turnover; Finland; Helsinki Stock Exchange; Nasdaq OMX; (follow links to similar papers)
JEL-Codes: G10; G11; N24; (follow links to similar papers)
31 pages, March 14, 2014
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