eCite Digital Repository
Impact of macroeconomic variables on Stock Prices: Industry Level Analysis
Citation
Jasra, JM and Azam, RI and Muhammad, AK, Impact of macroeconomic variables on Stock Prices: Industry Level Analysis, Actual Problems of Economics, (134) pp. 403-412. ISSN 1993-6788 (2012) [Refereed Article]
Copyright Statement
Copyright 2012 The Authors
Official URL: http://eco-science.net/index.php
Abstract
This study examines the relationship between stock prices and interest rate, exchange rate and
consumer price index (CPI). 4 different industries were selected for this study on the basis of data
availability, these industries included oil and gas, chemical, cement and insurance industry. The
data for the selected industries and economic variables were obtained for the period of 6 years (24
quarters). Regression analysis was used to analyze the impact of exchange rate, interest rate and
consumer price index on stock returns. Stock index is used as a dependent variable and the macro
economic variables are used as independent variables. Results of the study show that the impact of
interest rate on oil and gas, chemical and cement industry are insignificant, while it has significant
effect on insurance industry. When the impact of consumer price index is determined it shows sig
nificant effect on oil and gas, chemical, cement industry and insurance industry respectively. The
exchange rate showed significant negative effect on all 4 industries.
Item Details
Item Type: | Refereed Article |
---|---|
Keywords: | macroeconomic variables; interest rate; consumer index; exchange rate; stock prices |
Research Division: | Economics |
Research Group: | Other economics |
Research Field: | Other economics not elsewhere classified |
Objective Division: | Expanding Knowledge |
Objective Group: | Expanding knowledge |
Objective Field: | Expanding knowledge in economics |
UTAS Author: | Jasra, JM (Dr Javed Mahmood) |
ID Code: | 100033 |
Year Published: | 2012 |
Deposited By: | TSBE |
Deposited On: | 2015-04-24 |
Last Modified: | 2017-09-25 |
Downloads: | 0 |
Repository Staff Only: item control page