Articlediamond2019

The Relationship Between Financial Ratios and the Stock Prices of Selected European Food Companies Listed on Stock Exchanges

34 citations0/0 files storedActa Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

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Financial Analysis and Corporate Governance Financial Markets and Investment Strategies Financial Reporting and Valuation Research

Abstract

Stock prices can be influenced by many factors. It is possible to determine two categories of variables that can affect stock prices: macroeconomic and microeconomic variables. The paper is focused on microeconomic factors, specially financial ratios that reflect business activities of the companies. According to the study of Drummen and Zimmermann (1992) the individual characteristics of companies affect up to 50 % of stock prices. The object of this paper is to examine the relationship between selected financial ratios and the stock prices of food companies listed on selected European Stock Exchanges. Time series on annual frequency are used to examine the relationship between stock prices of selected companies and financial ratios with using the Generalized Method of Moments (GMM). Based on previous research we expect to find some linkages especially between stock prices and the profitability ratios.

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References

2002Accounting and capital markets: a survey of the European evidence 2010The value relevance of earnings in a transition economy: The case of Romania 1992The Structure of European Stock Returns 2010Development of accounting in Poland: Market efficiency and the value relevance of reported earnings 2009The value relevance of financial statements and their impact on stock prices

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2023The Influence of Financial Ratio and Company Reputation on Company Stock Prices Financial Sector 2021The Effect of Profitability and Leverage on Stock Return of Food and Beverage Companies

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