The effectiveness of fundamental analysis in forecasting stock returns in technology sector
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Date
2023
Authors
Жук, Дмитро
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Abstract
This work aims to analyze the relationships between key fundamental ratios and stock returns of technological companies from the NASDAQ 100 Technology Sector Index for the period between 2012 and 2022. The return with a one-quarter lag is regressed against six fundamental ratios (book-to-market ratio, price-to-earnings ratio, return on assets, leverage ratio, current ratio, and earnings per share). Panel data is used, and the best-fitting model is selected. The results are analyzed, explained, and compared to findings in previously published research.
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Keywords
fundamental analysis, technology sector, forecasting, бакалаврська робота