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Investment Performance of the World Automotive Industry
Jönköping University, Jönköping International Business School, JIBS, Economics.
2006 (English)Independent thesis Advanced level (degree of Magister), 10 points / 15 hpStudent thesis
Abstract [en]

The paper examines the investment performance of the world automotive industry using a sample of 21 original equipment manufacturers (OEMs) based in three major continents, North America, Europe and Asia between the years 1999 and 2004. The empirical findings suggest that there exists persistent overinvestment not only in the global level but also in the major automotive production regions analyzed. Proving that none of the 3 regions gain returns on investment at least as large as their costs of capital, shareholder wealth is not maximized in the world automotive industry. Europe, among these regions, proves to gain the highest return on investment of its cost of capital. The empirical results also show that the return on investment financed by debt is high around the world and close to 100% of its cost of capital.

Place, publisher, year, edition, pages
2006. , p. 25
Keywords [en]
World automotive industry, marginal q, return on investment, performance
National Category
Other Mechanical Engineering
Identifiers
URN: urn:nbn:se:hj:diva-491OAI: oai:DiVA.org:hj-491DiVA, id: diva2:4204
Uppsok
teknik
Supervisors
Examiners
Available from: 2006-07-03 Created: 2006-07-03

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
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  • asciidoc
  • rtf