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Transforming PiotroskiÕs (binary) F-score into a real one
Mini Dissertation (MBA)--University of Pretoria, 2017.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2018
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| _version_ | 1867613517498023936 |
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| access_status_str | Open Access |
| author2 | Muller, Chris |
| author_browse | Muller, Chris |
| author_facet | Muller, Chris |
| collection | Thesis |
| dc_rights_str_mv | © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (MBA)--University of Pretoria, 2017. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/64896 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:37:24.530Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/64896 Transforming PiotroskiÕs (binary) F-score into a real one Muller, Chris ichelp@gibs.co.za Nast, Timothy Kyle UCTD Mini Dissertation (MBA)--University of Pretoria, 2017. Since the 1960s, accounting researchers have attempted to assess the benefit of historical financial statements to capital market investors (Bunting & Barnard, 2015) by developing an indeterminate number of predictive signals designed to Òbeat the marketÓ. One such stock screen, the Piotroski F-score (Piotroski, 2000), attempted to reverse the trend of increasingly complicated predictive algorithms by applying a simple binary calculation method to nine signals extracted from widely accessible historical accounting data. While Piotroski found the F-score to be effective in separating winners from losers, subsequent studies delivered mixed results. This research sought to interrogate the relevance of the F-scoreÕs nine signals on the JSE and to assess a revised calculation methodology, based on a ranked scale of companies. The results of the research were also used to assess the ongoing relevance of accounting-based fundamental analysis in light of the challenges posed by behavioural finance research and technological advances. The results show that six of the F-scoreÕs nine signals were found to be relevant to the JSE and the ranked scale calculation approach was successful in separating winners from losers. Analysis of the F-scoreÕs predictive ability over time showed that accounting-based fundamental analysis remains relevant in the context of the JSE. km2018 Gordon Institute of Business Science (GIBS) MBA Unrestricted 2018-05-11T09:02:59Z 2018-05-11T09:02:59Z 30-03-18 2017 Mini Dissertation Nast, TK 2017, Transforming PiotroskiÕs (binary) F-score into a real one, MBA Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/64896> http://hdl.handle.net/2263/64896 en © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Transforming PiotroskiÕs (binary) F-score into a real one |
| title | Transforming PiotroskiÕs (binary) F-score into a real one |
| title_full | Transforming PiotroskiÕs (binary) F-score into a real one |
| title_fullStr | Transforming PiotroskiÕs (binary) F-score into a real one |
| title_full_unstemmed | Transforming PiotroskiÕs (binary) F-score into a real one |
| title_short | Transforming PiotroskiÕs (binary) F-score into a real one |
| title_sort | transforming piotroskios binary f score into a real one |
| topic | UCTD |
| url | http://hdl.handle.net/2263/64896 |