Asset Pricing Problems in the Baltic Financial Markets
2013
Raimonds Lieksnis

Defending
31.05.2013. 10:00, IEVF, Kalnciema ielā 6,309.aud.

Supervisor
Remigijs Počs

Reviewers
Nataļja Lāce, Tatjana Volkova, Jānis Bērziņš

The topic of the dissertation is asset pricing problems in the context of investing in the Baltic financial markets. Relevant asset pricing theories and models are critically reviewed along with the existing research about these markets. The main features of the Baltic financial markets are also analyzed. Baltic companies and individual investors need good methodologies to invest their cash reserves in the financial markets to protect these funds from inflation and maximize the risk-adjusted returns. The author proposes a solution to solve the relevant asset pricing problems: market timing and securities selection. The proposed methodology deals with market timing by applying a trend following approach suitable for the Latvian stock market. The most relevant stock selection method based on the premise of value investing is also proposed by the author. The author also addresses another asset pricing problem: the methodology by which local companies should provide effective and unbiased advice to their employees about choosing the best second-pillar pension fund manager. The proposed methodology measures the performance of the second-pillar pension fund managers against the composite performance benchmark. The Doctoral Dissertation is written in English, it consists of the introduction, five chapters, conclusions and recommendations. Without appendices, it is presented on 179 pages. It comprises 22 tables, 43 figures, 42 equations, and 6 appendices. It references 225 sources of information.


Keywords
Baltic financial market

Lieksnis, Raimonds. Asset Pricing Problems in the Baltic Financial Markets. PhD Thesis. Rīga: [RTU], 2013. 187 p.

Publication language
English (en)
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