The impact of productivity on Euronext stock returns

Luís Miguel Costa


Purpose: The focus of this investigation is related to the study of a set of specific indicators to the companies in the determination of Euronext stock returns.

Methodology: A quantitative research was carried out using an econometric model to identify the relevant indicators to determine the returns of shares listed on Euronext.

Findings: The results suggest that productivity has no influence on stock returns. However, all other business performance variables exert a significant influence on the stock returns of companies belonging to Euronext.

Originality/Value:  This study aims to contribute to the enrichment of the literature that focuses on the profitability presented by shares in the capital market, with emphasis on Euronext shares.

Keywords: Euronext, stock returns, ROE, cash flow, Net Debt to EBITDA, productivity.

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