Determinants of Annual Abnormal Yields of Stocks belonging to the Euro stoxx 50 Index

Luís Miguel Costa



Purpose: The focus of this research is on the study of a set of specific, company-external indicators in determining the annual abnormal profitability of the stocks that belong to the Euro stoxx 50 index.

Methodology: Quantitative research carried out through an econometric model where the relevant indicators for determining the annual abnormal profitability of the shares of the non-financial companies listed in the index are identified.

Findings: The results suggest that corporate performance variables have a statistically significant influence in determining the annual abnormal profitability of the shares of the companies belonging to the Euro stoxx 50. They also suggest that the economic sentiment is important in determining the annual abnormal profitability of the stocks included in this same stock market index.

Originality/Value: This study aims to contribute to the enrichment of the literature that focuses on the profitability presented by corporate shares in the capital market, with emphasis on the Euro stoxx 50 stock index.

Keywords: Euro stoxx 50, Abnormal stock returns, Payout ratio, Book value, Cash flow, Investment, Investor sentiment

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