TY - INPR T1 - Afgørende skattelettelser i USA A1 - Risager,Ole AU - Risager,Ole PB - Dagbladet Boersen A-S PY - 2012/7/6 Y1 - 2012/7/6 UR - http://infomedia.dk/Produkter.aspx JO - Boersen JF - Boersen SN - 0105-0729 SP - 2 ER - TY - ICOMM T1 - Bliv en bedre investor med overblik over den globale økonomi A1 - Risager,Ole AU - Risager,Ole PY - 2012/3/30 Y1 - 2012/3/30 ER - TY - BOOK T1 - Value Investing in World Equity Markets A1 - Risager,Ole AU - Risager,Ole PB - McGraw-Hill Companies PY - 2012 Y1 - 2012 UR - http://libsearch.cbs.dk/primo_library/libweb/action/dlDisplay.do?docId=CBS01000580948&vid=CBS&afterPDS=true BT - Value Investing in World Equity Markets SN - 9780077148768 ER - TY - BOOK T1 - Investing in Value Stocks A1 - Risager,Ole AU - Risager,Ole PB - McGraw-Hill Companies PY - 2010 Y1 - 2010 BT - Investing in Value Stocks SN - 0077128281 SN - 9780077128289 ER - TY - UNPB T1 - The Value Premium on the Danish Stock Market T2 - 1950-2008 A1 - Risager,Ole AU - Risager,Ole PB - Copenhagen Business School [wp] CY - Frederiksberg PY - 2010 Y1 - 2010 UR - http://cbs.dk/content/download/145363/1918677/file/CIBEM%20WP%20%20RISAGER%20Danish%20Value%20Premium%20July%202010.pdf BT - The Value Premium on the Danish Stock Market SP - 1 EP - 25 ER - TY - INPR T1 - Eksportvirksomheder foran rædselsscenarie T2 - Kan vi gøre noget? A1 - Risager,Ole AU - Risager,Ole PB - Dagbladet Boersen A-S PY - 2009/3/25 Y1 - 2009/3/25 JO - Boersen JF - Boersen SN - 0105-0729 ER - TY - INPR T1 - Eksportvirksomheder foran rædselscenarie T2 - Kan vi gøre noget? A1 - Thomsen,Steen A1 - Risager,Ole AU - Thomsen,Steen AU - Risager,Ole PB - Dagbladet Boersen A-S PY - 2009/3/25 Y1 - 2009/3/25 JO - Boersen JF - Boersen SN - 0105-0729 SP - 3 ER - TY - BOOK T1 - Understanding the Financial Crisis T2 - Investment, Risk and Governance A2 - Thomsen,Steen A2 - Rose,Caspar A2 - Risager,Ole ED - Thomsen,Steen ED - Rose,Caspar ED - Risager,Ole PB - SimCorp StrategyLab PY - 2009 Y1 - 2009 KW - Finansielle kriser KW - Kriseteori KW - Internationale finanser KW - Finansiel risiko KW - Finansiel risikostyring KW - Finansiel risikoanalyse KW - Corporate governance BT - Understanding the Financial Crisis SN - 9788799315109 ER - TY - CHAP T1 - Introduction T2 - Understanding the Financial Crises A1 - Risager,Ole AU - Risager,Ole PB - SimCorp StrategyLab CY - Copenhagen PY - 2009 Y1 - 2009 KW - Kriseteori KW - Finansielle kriser KW - Finansiel risiko KW - Finansiel risikoanalyse KW - Finansiel risikostyring KW - Internationale finanser SN - 9788799315109 BT - Understanding the Financial Crises A2 - Risager,Ole ED - Risager,Ole SP - 8 EP - 18 ER - TY - JOUR T1 - Managing macro financial risks A1 - Risager,Ole AU - Risager,Ole PB - SimCorp PY - 2009 Y1 - 2009 JO - Journal of Applied It and Investment Management JF - Journal of Applied It and Investment Management SN - 1903-6914 IS - 1 VL - 1 SP - 21 EP - 24 ER - TY - INPR T1 - Bankerne og den frelsende stat A1 - Risager,Ole AU - Risager,Ole PY - 2008/4/25 Y1 - 2008/4/25 JO - Information JF - Information SN - 1602-2572 ER - TY - INPR T1 - USA T2 - Hvor alvorlig bliver nedturen? A1 - Risager,Ole AU - Risager,Ole PY - 2008/3/13 Y1 - 2008/3/13 JO - Information JF - Information SN - 1602-2572 ER - TY - INPR T1 - USA T2 - Forbrugerne skal få krisen til at gå væk A1 - Risager,Ole AU - Risager,Ole PB - JP/Politikens Hus A/S PY - 2008/1/29 Y1 - 2008/1/29 JO - Politiken JF - Politiken SN - 0907-1814 ER - TY - UNPB T1 - The Value Premium on the Danish Stock Market T2 - 1950-2004 A1 - Risager,Ole AU - Risager,Ole PB - Department of International Economics and Management, Copenhagen Business School CY - Frederiksberg PY - 2008 Y1 - 2008 UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7613 BT - The Value Premium on the Danish Stock Market ER - TY - BOOK T1 - International financial markets T2 - Lecture notes and power point slides A1 - Risager,Ole AU - Risager,Ole PB - Copenhagen Business School Press PY - 2008 Y1 - 2008 BT - International financial markets ER - TY - JOUR T1 - A Price-Earnings Index for the Danish Stock Market A1 - Risager,Ole AU - Risager,Ole PB - Taylor & Francis A B PY - 2006 Y1 - 2006 KW - Danmark KW - Finansielle nøgletal KW - Aktiemarkeder KW - Aktier KW - Aktiekurser KW - Indtjening UR - http://www.tandfonline.com/doi/abs/10.1080/03585520600759520# U2 - 10.1080/03585520600759520 DO - 10.1080/03585520600759520 JO - Scandinavian Economic History Review JF - Scandinavian Economic History Review SN - 0358-5522 IS - 2 VL - 54 SP - 137 EP - 160 ER - TY - JOUR T1 - Value- kontra vækstaktier T2 - Hvad har været bedst for investorerne? A1 - Risager,Ole AU - Risager,Ole PY - 2006 Y1 - 2006 KW - Investeringsteori KW - Aktieanalyse KW - Danmark KW - Aktiemarkeder JO - Aktionæren JF - Aktionæren SN - 1398-0610 IS - 2 VL - 16 SP - 6 EP - 7 ER - TY - JOUR T1 - Er de toneangivende danske aktier billige eller dyre? T2 - Bliv klogere på, hvordan du benytter nøgletallene P/E og E/P A1 - Risager,Ole AU - Risager,Ole PY - 2005 Y1 - 2005 KW - Aktier KW - Aktiekurser KW - Danmark JO - Aktionæren JF - Aktionæren SN - 1398-0610 IS - 4 VL - 15 SP - 4 EP - 5 ER - TY - UNPB T1 - The Value Premium on the Danish Stock Market T2 - 1950-2004 A1 - Risager,Ole AU - Risager,Ole CY - København PY - 2005 Y1 - 2005 N2 - A number of influential studies have documented a strong value premium for US stocks over the period 1963 to 1990 (Fama and French (1992), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean return than the high multiple growth firms. Work by Basu (1997) and others have shown that the value dominance is also a feature of the earlier market history of the United States. The value premium is reported also to exist in a number of other countries over the period 1975 to 1995 (Fama and French (1998)). The results for these markets are based on Morgan Stanley (MSCI) data. Since these data are softer due to a relatively short time horizon and due to a small number of stocks in some cases down at 10 stocks, the conclusions are likely to be less robust. There is therefore a need for more research on this issue. The purpose of this paper is to report evidence for the Danish stock market and to test whether the value premium is a genuine long-term feature of the market or just a phenomenon that pops up now and then. To research this issue we have collected accounting and stock market data for more than half a century. We report in particular on the insights obtained when portfolios are formed on the basis of the price-earnings multiple. The paper shows that there is a value premium. The paper also analyzes whether the premium is likely to be due to risk (Fama and French (1992,98)) or mispricing as emphasized by the Behavioral Finance School (Chan et al. (2000), Lakonishok et al. (1994) and La Porta et al. (1997)). AB - A number of influential studies have documented a strong value premium for US stocks over the period 1963 to 1990 (Fama and French (1992), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean return than the high multiple growth firms. Work by Basu (1997) and others have shown that the value dominance is also a feature of the earlier market history of the United States. The value premium is reported also to exist in a number of other countries over the period 1975 to 1995 (Fama and French (1998)). The results for these markets are based on Morgan Stanley (MSCI) data. Since these data are softer due to a relatively short time horizon and due to a small number of stocks in some cases down at 10 stocks, the conclusions are likely to be less robust. There is therefore a need for more research on this issue. The purpose of this paper is to report evidence for the Danish stock market and to test whether the value premium is a genuine long-term feature of the market or just a phenomenon that pops up now and then. To research this issue we have collected accounting and stock market data for more than half a century. We report in particular on the insights obtained when portfolios are formed on the basis of the price-earnings multiple. The paper shows that there is a value premium. The paper also analyzes whether the premium is likely to be due to risk (Fama and French (1992,98)) or mispricing as emphasized by the Behavioral Finance School (Chan et al. (2000), Lakonishok et al. (1994) and La Porta et al. (1997)). KW - Risikopræmie-aktier KW - Danmark KW - Aktiemarkeder KW - Aktiekurser UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7613 BT - The Value Premium on the Danish Stock Market ER - TY - JOUR T1 - Er de toneangivne danske aktier billige eller dyre? T2 - Bliv klog på, hvordan du benytter nøgletallene P/E og E/P A1 - Risager,Ole AU - Risager,Ole PY - 2005 Y1 - 2005 N2 - Udgivelsesdato: 01.04 AB - Udgivelsesdato: 01.04 JO - Aktionæren JF - Aktionæren SN - 1398-0610 ER - TY - UNPB T1 - A Price Earnings Index for the Danish Stock Market A1 - Risager,Ole AU - Risager,Ole CY - København PY - 2004 Y1 - 2004 KW - Værdiansættelse-virksomheder KW - Danmark KW - Finansielle nøgletal KW - Aktiekurser KW - Aktiemarkeder UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7620 BT - A Price Earnings Index for the Danish Stock Market ER - TY - JOUR T1 - Dollaren og udviklingen i verdensøkonomien A1 - Risager,Ole AU - Risager,Ole PY - 2004 Y1 - 2004 N2 - Udgivelsesdato: 01.11 AB - Udgivelsesdato: 01.11 JO - CBS Executive JF - CBS Executive ER - TY - UNPB T1 - The A.P Møller shares, the US dollar and the price of oil A1 - Risager,Ole AU - Risager,Ole CY - København PY - 2003 Y1 - 2003 KW - olieindustri KW - olieudvinding KW - valutakurser KW - aktiekurser KW - oliepriser UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7627 BT - The A.P Møller shares, the US dollar and the price of oil ER - TY - JOUR T1 - Republic of Latvia T2 - 2003 Article IV Consultation - Staff report, Staff Statement, Public Information Notice on the Executive Board Discussion, and Statement by the Executive Director for the Republic of Latvia A1 - Risager,Ole AU - Risager,Ole PY - 2003 Y1 - 2003 UR - http://www.imf.org/external/pubs/ft/scr/2003/cr03113.pdf JO - WWW JF - WWW ER - TY - JOUR T1 - Afkast og risiko ved aktieinvesteringer på kort og lang sigt A1 - Nielsen,Steen A1 - Risager,Ole AU - Nielsen,Steen AU - Risager,Ole PB - Nationaloekonomisk Forening PY - 2001 Y1 - 2001 KW - Afkast KW - Aktiemarkeder KW - Aktiekurser KW - Danmark JO - Nationaløkonomisk tidsskrift JF - Nationaløkonomisk tidsskrift SN - 0028-0453 IS - 1 VL - 139 SP - 25 EP - 41 ER - TY - JOUR T1 - Minimum Wages, technological Progress and Loss of Skill A1 - Nielsen,Steen A1 - Risager,Ole AU - Nielsen,Steen AU - Risager,Ole PB - Elsevier BV North-Holland PY - 2001 Y1 - 2001 KW - Minimalløn KW - Faglærte arbejdere KW - Arbejdsløshed KW - Kompetenceudvikling KW - Kompetencetab JO - European Economic Review JF - European Economic Review SN - 0014-2921 VL - 45 SP - 1521 EP - 1544 ER - TY - UNPB T1 - Afkast og risiko ved aktieinvesteringer på kort og lang sigt A1 - Nielsen,Steen A1 - Risager,Ole AU - Nielsen,Steen AU - Risager,Ole CY - København PY - 2001 Y1 - 2001 KW - Afkast KW - Aktiemarkeder KW - Danmark KW - Aktiekurser UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7512 BT - Afkast og risiko ved aktieinvesteringer på kort og lang sigt ER - TY - UNPB T1 - Stock returns and bond yields in Denmark, 1922-99 A1 - Nielsen,Steen A1 - Risager,Ole AU - Nielsen,Steen AU - Risager,Ole CY - København PY - 2001 Y1 - 2001 KW - Afkast KW - Aktiemarkeder KW - Danmark KW - Aktiekurser UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7649 BT - Stock returns and bond yields in Denmark, 1922-99 ER - TY - UNPB T1 - On the Predictability of the Danish Equity Premium A1 - Overgaard Olesen,Jan A1 - Risager,Ole AU - Overgaard Olesen,Jan AU - Risager,Ole CY - København PY - 2000 Y1 - 2000 KW - Danmark KW - Aktier KW - Obligationer KW - Værdipapirer UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7502 BT - On the Predictability of the Danish Equity Premium ER - TY - UNPB T1 - On the Relationship between the Danish Stock and Bond Market in the Medium and Long Term A1 - Overgaard Olesen,Jan A1 - Risager,Ole AU - Overgaard Olesen,Jan AU - Risager,Ole CY - København PY - 2000 Y1 - 2000 KW - Aktiemarkeder KW - Obligationsmarkeder KW - Danmark UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7619 BT - On the Relationship between the Danish Stock and Bond Market in the Medium and Long Term ER - TY - JOUR T1 - Risiko for langsigtet fald i aktiekurserne T2 - Kommentar A1 - Overgaard Olesen,Jan A1 - Risager,Ole AU - Overgaard Olesen,Jan AU - Risager,Ole PB - Fagtidskriftet Finans/Invest PY - 1999 Y1 - 1999 N2 - Udgivelsesdato: maj AB - Udgivelsesdato: maj KW - Aktiekurser KW - kursfald JO - Finans - Invest JF - Finans - Invest SN - 0106-1798 IS - 205 SP - 19 EP - 23 ER - TY - JOUR T1 - Risiko for langsigtet fald i aktiekurserne T2 - Replik A1 - Overgaard Olesen,Jan A1 - Risager,Ole AU - Overgaard Olesen,Jan AU - Risager,Ole PB - Fagtidskriftet Finans/Invest PY - 1999 Y1 - 1999 KW - Aktiekurser KW - Kursfald JO - Finans - Invest JF - Finans - Invest SN - 0106-1798 IS - 3 SP - 27 ER - TY - JOUR T1 - Job Security Policies and Trade Union Behaviour in an Open Economy A1 - Risager,Ole A1 - Sørensen,Jan Rose AU - Risager,Ole AU - Sørensen,Jan Rose PB - Wiley-Blackwell Publishing, Inc. PY - 1999 Y1 - 1999 KW - Fagforeninger KW - Fagforeningspolitik KW - Fratrædelsesgodtgørelse KW - Afskedigelse JO - Canadian Journal of Economics JF - Canadian Journal of Economics SN - 0008-4085 VL - 32 SP - 139 EP - 151 ER - TY - BOOK T1 - Macroeconomic perspectives on the Danish economy A1 - Andersen,Torben M. A1 - Hougaard Jensen,Svend E. A1 - Risager,Ole AU - Andersen,Torben M. AU - Hougaard Jensen,Svend E. AU - Risager,Ole PB - Palgrave Macmillan PY - 1999 Y1 - 1999 KW - ØKONOMISKE FORHOLD KW - DANMARK KW - VELFÆRDSSTAT KW - ØKONOMISK POLITIK BT - Macroeconomic perspectives on the Danish economy SN - 0333733312 ER - TY - CHAP T1 - Macroeconomic Perspectives on the Danish Economy T2 - Macroeconomic Perspectives on the Danish Economy A1 - Andersen,Torben M. A1 - Hougaard Jensen,Svend E. A1 - Risager,Ole AU - Andersen,Torben M. AU - Hougaard Jensen,Svend E. AU - Risager,Ole PB - Palgrave Macmillan CY - Basingstoke PY - 1999 Y1 - 1999 KW - Økonomiske forhold KW - Danmark SN - 0333733312 BT - Macroeconomic Perspectives on the Danish Economy A2 - Risager,Ole ED - Risager,Ole SP - 1 EP - 39 ER - TY - CHAP T1 - Macroeconomic Perspectives on Stock and Bond Investments in Denmark Since the First World War A1 - Nielsen,Steen A1 - Risager,Ole AU - Nielsen,Steen AU - Risager,Ole PB - Palgrave Macmillan CY - Basingstoke PY - 1999 Y1 - 1999 KW - værdipapirer KW - aktier KW - obligationer KW - danmark SN - 0333733312 BT - Macroeeconomic Perspectives on the Danish Economy T2 - Macroeeconomic Perspectives on the Danish Economy A2 - Risager,Ole ED - Risager,Ole SP - 66 EP - 105 ER - TY - UNPB T1 - Risiko for kollaps på aktiemarkedet - eller hvad? A1 - Overgaard Olesen,Jan A1 - Risager,Ole AU - Overgaard Olesen,Jan AU - Risager,Ole CY - København PY - 1999 Y1 - 1999 KW - Aktiemarkeder KW - DANMARK KW - DIVIDENDE KW - AKTIEKURSER KW - AKTIEPRISER KW - dividende-pris forhold KW - D-P forhold KW - forecasting UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7546 BT - Risiko for kollaps på aktiemarkedet - eller hvad? ER - TY - UNPB T1 - On the effects of reducing the government's role in the labour market T2 - a stylished model for Egypt with some numerical policy examples A1 - Risager,Ole A1 - Yang,Chang-Po AU - Risager,Ole AU - Yang,Chang-Po CY - København PY - 1999 Y1 - 1999 KW - ARBEJDSMARKEDSPOLITIK KW - EGYPTEN UR - http://openarchive.cbs.dk/cbsweb/handle/10398/7659 BT - On the effects of reducing the government's role in the labour market ER - TY - UNPB T1 - Job security policies and trade union behaviour in an open economy A1 - Risager,Ole A1 - Sørensen,Jan Rose AU - Risager,Ole AU - Sørensen,Jan Rose CY - København PY - 1996 Y1 - 1996 KW - engelsksproget KW - fagforeninger KW - fagforeningspolitik KW - fratrædelsesgodtgørelser KW - afskedigelse KW - Arbejdsret BT - Job security policies and trade union behaviour in an open economy ER -