Influence of macroeconomic factors on Malaysian stock returns
This paper studies macroeconomic factors that influence stock market in Malaysia. Macroeconomic factors used in this study are money supply, inflation, oil price, exchange rate and industrial production index. Meanwhile, Malaysian stock market returns studied are FTSE Bursa Malaysia KLCI (FBM KLCI)...
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HB Economic Theory Khairul Najihah, Yusof Influence of macroeconomic factors on Malaysian stock returns |
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This paper studies macroeconomic factors that influence stock market in Malaysia. Macroeconomic factors used in this study are money supply, inflation, oil price, exchange rate and industrial production index. Meanwhile, Malaysian stock market returns studied are FTSE Bursa Malaysia KLCI (FBM KLCI) and FTSE Bursa Malaysia EMAS Index (FBM EMAS Index). The findings showed only three
macroeconomic variables are significantly influenced FBM KLCI while the rest two are not significant. Meanwhile, for FBM EMAS Index, all macroeconomic variables are not significantly influenced except for money supply. However, both stock returns show the same relationship which is only inflation has positive influences
while the rest four variables are negatively influence. Lastly, the financial crisis 2008
indicates that there is no significant impact on this study. |
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Khairul Najihah, Yusof |
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Khairul Najihah, Yusof |
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Khairul Najihah, Yusof |
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Influence of macroeconomic factors on Malaysian stock returns |
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Influence of macroeconomic factors on Malaysian stock returns |
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Influence of macroeconomic factors on Malaysian stock returns |
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Influence of macroeconomic factors on Malaysian stock returns |
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Influence of macroeconomic factors on Malaysian stock returns |
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influence of macroeconomic factors on malaysian stock returns |
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Universiti Utara Malaysia |
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School of Economics, Finance & Banking |
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2015 |
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my-uum-etd.55572021-03-18T08:23:58Z Influence of macroeconomic factors on Malaysian stock returns 2015 Khairul Najihah, Yusof Kadir@Shahar, Hanita School of Economics, Finance & Banking School of Economics Finance and Banking HB Economic Theory This paper studies macroeconomic factors that influence stock market in Malaysia. Macroeconomic factors used in this study are money supply, inflation, oil price, exchange rate and industrial production index. Meanwhile, Malaysian stock market returns studied are FTSE Bursa Malaysia KLCI (FBM KLCI) and FTSE Bursa Malaysia EMAS Index (FBM EMAS Index). The findings showed only three macroeconomic variables are significantly influenced FBM KLCI while the rest two are not significant. Meanwhile, for FBM EMAS Index, all macroeconomic variables are not significantly influenced except for money supply. However, both stock returns show the same relationship which is only inflation has positive influences while the rest four variables are negatively influence. Lastly, the financial crisis 2008 indicates that there is no significant impact on this study. 2015 Thesis https://etd.uum.edu.my/5557/ https://etd.uum.edu.my/5557/1/s816707_01.pdf text eng public https://etd.uum.edu.my/5557/2/s816707_02.pdf text eng public masters masters Universiti Utara Malaysia Adam, A. M., & Tweneboah, G. (2008). Macroeconomic Factors and Stock Market Movement: Evidence from Ghana. MPRA Papper No. 11256, posted 26. Al-Aharkas, A. (2004). The Dynamic Relationship Between Macroeconomic Factors and The Jordian Stock Market. International Journal of Applied Econometrics and Quantitative Studies, 1(1). Alam, Z., & Rashid, K. (2014). Time Series Analysis of Relationship between Macroeconomic Factors and the Stock Market Returns In Pakistan. Journal of Yasar University, 9(36). Bailey, W. (1989). 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