Date of Publication
8-2016
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Management of Financial Institutions
Subject Categories
Finance and Financial Management
College
Ramon V. Del Rosario College of Business
Department/Unit
Financial Management
Thesis Adviser
Dulani Jayasuriya
Defense Panel Member
Alfredo Santoyo
Patrick Caoile
Alddon Ang
Abstract/Summary
The study aims to establish whether the financial constraint factor impact stock returns for publicly listed companies in the Philippines from 2007 to 2014. The researchers utilized the whited-Wu (WW) index to determine the magnitude of financial constraint of Philippine industrial firms. Subsequently, the firms were grouped into 9 cross-sorted portfolios that were constructed based on their magnitude of financial constraint and market capitalization. The portfolio returns and characteristics analysis showed that more financially constrained firms are bound to have higher excess returns compared to less financially constrained firms. Trend analysis provided evidence that the financial constraint factor does exist and time series regressions depicted that there is an impact from the financial constraint factor on portfolio returns, particularly on small cap-highly constrained (SH) portfolio returns.
Abstract Format
html
Language
English
Format
Accession Number
TU22254; CDTU022254
Shelf Location
Archives, The Learning Commons, 12F, Henry Sy Sr. Hall
Physical Description
165, 4 leaves, illustrations
Keywords
Business enterprises—Finance; Stocks—Rate of return
Recommended Citation
Garcia, M. R., Manalo, A. Z., Tsoi, J. L., & Yupangco, L. V. (2016). Financial constraints and stock returns: An evidence from the Philippines. Retrieved from https://animorepository.dlsu.edu.ph/etd_bachelors/6463
Upload Full Text
wf_yes
