Förslag till fortsatt forskning

Syftet med studien var att undersöka informationseffektiviteten på den svenska aktiemarknaden. Allteftersom studien fortlöpte uppkom vikten av att beakta transaktionskostnader i studier på värdepremien. Om värdestrategiers abnorma avkastning försvinner efter att ha kontrollerat för transaktionskostnader så överensstämmer resultaten med den effektiva marknadshypotesen. I vår studie finner vi att värdestrategier kan användas för att producera en abnorm avkastning, vilket kan hänföras till existerandet av irrationella investerare på marknaden. Efterkommande studier skulle kunna undersöka om en abnorm avkastning kvarstår efter att ha inkorporerat transaktionskostnaderna. Därtill vore det intressant att inkludera ytterligare relativt outforskade relativvärderingsmultiplar och undersöka värdestrategier på både stora och mindre aktiemarknader för att åskådliggöra hur pass landsspecifika avvikelser från EMH är.

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