Scandinavian Working Papers in Economics

Nationaløkonomisk tidsskrift,
Nationaløkonomisk Forening

Afkast og risiko ved aktieinvesteringer på kort og lang sigt

2001, Volume 2001, issue 1, pp. 27-43

Steen Nielsen () and Ole Risager ()
Additional contact information
Steen Nielsen: Institut for nationaløkonomi, Handelshøjskolen i København og Centre for Economic and Business Research
Ole Risager: Institut for Nationaløkonomi, Handelshøjskolen i København

Abstract: This paper describes the return and risk characteristics of the Danish stock market over the past 75 years. In the short term, stocks are highly risky, and the relatively high return can therefore be seen as a compensation for risk. In the long term, risk increases less than the return prospect reflecting the fact that periods of low returns tend to be followed by periods of high returns at the Danish stock market. Due to this mean reversion tendency, stock investments are more attractive for long-term investors than for short-term investors. Mean reversion is stronger in Denmark than in the U.S.

Keywords: aktieinvesteringer; afkast; risiko

JEL-codes: A10

Language: Danish

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