The Relationship Between Stock Market And Macroeconomic Policy Variables
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The Relationship Between Stock Market And Macroeconomic Policy Variables
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Author : Sisangile Nduna
language : en
Publisher:
Release Date : 2015
The Relationship Between Stock Market And Macroeconomic Policy Variables written by Sisangile Nduna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The Effect Of Macroeconomic Variables On Stock Prices
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Author : Shivangi Singh
language : en
Publisher:
Release Date : 2014
The Effect Of Macroeconomic Variables On Stock Prices written by Shivangi Singh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The relationship between fundamental macroeconomic variables of the economy and stock markets is an essential one. It affects the perspective of monetary and fiscal policy decisions, portfolio management and economic development. It has been studied that macroeconomic variables can influence investors' investment decisions. Over the world, many researchers have investigated the relationships between stock market prices and various macroeconomic variables. The focus of the current paper is to investigate whether the share price index can be considered as a reflection of economic activities in India. This study investigates the impact of five selected macroeconomic variables on Stock Market Liquidity of S&P CNX Nifty. As a result of this analysis, a simple model of the influence of macroeconomic fundamentals on the stock market index has been suggested. For better stock market performance, policy makers should put in place measures that will ensure a stable macroeconomic environment.
Business Economics Financial Sciences And Management
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Author : Min Zhu
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-02-11
Business Economics Financial Sciences And Management written by Min Zhu and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02-11 with Technology & Engineering categories.
A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume. Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Sciences, Management. It is hoped that the present book will be useful to experts and professors, both specialists and graduate students in the related fields.
Macroeconomic Policy
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Author : Martin Weale
language : en
Publisher: Routledge
Release Date : 2015-10-05
Macroeconomic Policy written by Martin Weale and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-05 with Business & Economics categories.
This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
Macro Economic Variables And Stock Prices In India
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Author : Mubasher Hassan
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2014-10-31
Macro Economic Variables And Stock Prices In India written by Mubasher Hassan and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-31 with categories.
The government's conduct of macroeconomic policy plays a unique and pivotal role in managing economic stability at the national level.As macroeconomic policies that are properly crafted and implemented help overcome many constraints like information asymmetry and coordination failures amongst regulatory institutions and markets, besides; a stable macroeconomic environment enables financial intermediaries to employ savings in productive activities thereby offering handsome returns to investors. Owing to the growth and development of financial markets across emerging economies, particularly India with its domestic saving on the rise, the policy makers, financial markets professionals, research scholars and academia are faced with unprecedented challenges when it comes to understanding volatility in stock market returns, in this direction this book focuses on the influence of select macroeconomic variables on stock market returns in India and will be helpful for business and economics graduates in understanding interaction between various macroeconomic fundamentals and can also serve as first step for research scholars in the field of financial economics.
Stock Market Performance And Macroeconomic Variables Theory And Critical Review Of Literature
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Author : Arnav Kumar
language : en
Publisher:
Release Date : 2015
Stock Market Performance And Macroeconomic Variables Theory And Critical Review Of Literature written by Arnav Kumar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Relationship between stock market performance and macroeconomic variables has intrigued and is of pertinent importance to policy makers, regulators, academicians, researchers and investment community. This paper presents a comprehensive theoretical framework underpinning this relationship and also provides an extensive critical analysis of existing literature on the subject. Theory suggests that stock market performance has positive relationship with GDP, Money Supply, Industrial Production, Foreign Exchange Reserves, Balance of Trade, Net FPI and FDI Inflows. It is negatively related with Inflation, Interest Rate, Gold Price and Oil Prices. Relationship of stock market with exchange rate and fiscal deficit is not clear. Critical examination of literature on various bases suggests that while this relationship is clearly established for developed markets, there is no unanimity for this relationship regarding emerging markets. Also, while some prominent macroeconomic variables which affect stock market performance can be identified, an exhaustive list of macroeconomic variables cannot be drawn. There has been a shift in econometric methods applied from basic tools to more advanced second generation financial econometric techniques Future researches should focus on examining this relationship for emerging markets, consider a comprehensive set of macroeconomic and stock market performance variables, take a fairly long study period, apply modern financial econometric techniques, explore this relation at sectoral level and incorporate impact of recent global financial crisis in their study.
Responses Of The Stock Market To Macroeconomic Announcements Across Economic States
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Author : Zuliu Hu
language : en
Publisher: International Monetary Fund
Release Date : 1998-05-01
Responses Of The Stock Market To Macroeconomic Announcements Across Economic States written by Zuliu Hu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05-01 with Business & Economics categories.
Is the stock market responsive to macroeconomic news? This paper employs the daily returns of the Dow Jones Industrial Index, the S&P 500 index, the Russell 1000 index, and the Russell 2000 index to examine stock market reactions to a broad list of macroeconomic announcements, including money supply, inflation, employment, housing starts, and trade balances, etc. Several announcements concerning real economic activity that have received little attention in previous research are shown to have a significant impact on stock prices. The paper also presents preliminary evidence for the different reaction to macroeconomic news by small cap stocks and large cap stocks.
The Effect Of Macroeconomic Variables On The Stock Market Index Of The Tehran Stock Exchange
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Author : Mohsen Mehrara
language : en
Publisher:
Release Date : 2017
The Effect Of Macroeconomic Variables On The Stock Market Index Of The Tehran Stock Exchange written by Mohsen Mehrara and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper examines the relationship between stock market index and macroeconomic policies (Fiscal and Monetary) on Iran's economy using quarterly data in the period 1999-2013. This study employed cointegration test and vector autoregressive models (VAR) to examine relationships between the stock market index and the macroeconomic variables. The empirical results reveal that a positive money shock can increase stocks return. According to impulse responses, the government expenditure had a slight impact on stocks return in the short term. But the government expenditure has a positive effect on exchange index in long run. Also the effect of taxes on the stock's price index is negative, so that it reaches its maximum level after the third lag and then alleviates. The GDP shock has positive effect on the stock's price index. Increase in production level leads to increase in earnings and profitability, leading to a positive response from stocks index. Therefore the results showed that the macroeconomic variables such as inflation, exchange rate and GDP have significant effects on Tehran exchange price index. So the hypothesis that the improving economic factors can have a useful role in the booming capital market is confirmed. Also the effect of fiscal policy factors such as tax revenues and government expenditures is more than monetary policy factors on stock returns.
Do Macroeconomic Variables Have An Effect On The Us Stock Market
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Author : Dennis Sauert
language : en
Publisher: GRIN Verlag
Release Date : 2010-10
Do Macroeconomic Variables Have An Effect On The Us Stock Market written by Dennis Sauert and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10 with Business & Economics categories.
Seminar paper from the year 2010 in the subject Economics - Case Scenarios, grade: 1.0, Berlin School of Economics, language: English, abstract: The objective of this paper is to examine whether the unanticipated change of specific macroeconomic variables influences the US stock market represented by the S&P 500 using monthly data from 1986 to 2007. Thereby, the performance of the arbitrage pricing theory of Ross (cp. Ross, S., 1976) shall be studied. To explain the behavior of the US stock market return the paper contains the five predefined variables consumer price index (CPI), industrial production index (IPT), money stock M1 (M1), total consumer credit outstanding (TCC) and the term structure of interest rates (Term) which are approximately similar to those variables used by Ross (cp. Chen N. F. et al., 1986, pp. 383-403). Applying the OLS method, it was found that CPI, IPT and Term are negatively related to the US stock return. It was also detected that M1 affects the stock market lagging 8 months and 12 months. However, the test statistics showed that TCC has rather no impact on the US stock market return. To ensure that the ultimate results are not spurious, care will be taken in regards to autocorrelation, multicollinearity, serial correlation as well as heteroskedasticity.
Stock Market Equilibrium And Macroeconomic Fundamentals
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Author : Mr.Lamin Leigh
language : en
Publisher: International Monetary Fund
Release Date : 1997-01-01
Stock Market Equilibrium And Macroeconomic Fundamentals written by Mr.Lamin Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-01-01 with Business & Economics categories.
This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both “weakly” and “semi-strongly” efficient in asset-pricing terms but not “strongly” efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically related to the overall economy in Singapore and can thus serve as a leading indicator of its intertemporal behavior.
