IDEAS home Printed from https://ideas.repec.org/a/vrn/journl/y2011i3p140-154.html
   My bibliography  Save this article

The premium for the shares of SPVs in Bulgaria

Author

Listed:
  • Mirena Trifonova

    (Varna University of Economics)

Abstract

The article aims at establishing what determines the deviation of the prices of the shares of special purpose vehicles (SPVs/SPEs) in Bulgaria from their net asset value (NAV). The study is based on yearly data for the period 2006 - 2009. It turns out that for the period under study SPVs have been traded at an average premium of 1.66 per share. The results of the study show that the level of the premium is directly proportional to the size of the company and inversely proportional to the liquidity and the level of indebtedness. It turns out that companies specializing in investment in arable land have significant influence on the premium and it is lowest for them.

Suggested Citation

  • Mirena Trifonova, 2011. "The premium for the shares of SPVs in Bulgaria," Business & Management Compass, University of Economics Varna, issue 3, pages 140-154.
  • Handle: RePEc:vrn:journl:y:2011:i:3:p:140-154
    as

    Download full text from publisher

    File URL: http://journal.ue-varna.bg/uploads/20140726090722_159228938253d36fca86330.pdf
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrn:journl:y:2011:i:3:p:140-154. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Yana Doneva (email available below). General contact details of provider: https://edirc.repec.org/data/uevarbg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.