Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.8/1404
Título: Brand value and shareholder value : evidence from european NYSE Euronext firms
Autor: Laúdo, Cátia Filipa Caetano
Orientador: Canadas, Natália Maria Prudêncio Rafael
Silva, Maria João da Silva
Palavras-chave: Brand equity
Brand value
Shareholder value
Fama and French - Carhart model
Data de Defesa: 5-Nov-2014
Resumo: Do strong brands create shareholder value? Since the recognition of the economic value of brands, several empirical studies have attempted to answer this question. The present dissertation examines the effects that European strong brands, as estimated by one of the world’s leading brand consultancy firms (Interbrand), and whose firms are listed on the NYSE Euronext stock exchange, have on shareholder value creation for the period from July 2007 to June 2013. Specifically, we compare the performance of a portfolio of firms that owned valuable brands, with two benchmark portfolios, making use of the Fama-French’s three-factor model plus a momentum factor, to adjust returns for risk. As a result, we find statistically significant evidence that the portfolio of firms with valuable brands outperformed both benchmark portfolios not only with higher returns, but also with lower risk, increasing, this way, shareholder value.
URI: http://hdl.handle.net/10400.8/1404
Designação: Mestrado em Finanças Empresariais
Aparece nas colecções:Mestrado em Finanças Empresariais

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MFE_Catia Laudo_2014.pdfdissertação completa1,08 MBAdobe PDFVer/Abrir


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