Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries

Cilt: 7 Sayı: 1 1 Mart 2017
  • Nurasyikin Jamaludin
  • Shahnaz Ismail
  • Syamimi Ab Manaf
International Journal of Economics and Financial Issues Kapak
International Journal of Economics and Financial Issues
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Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries

Abstract

This paper aims to examine the effect of macroeconomic variables namely inflation, money supply, and exchange rate on both conventional and Islamic stock market returns in the three selected ASEAN countries (Singapore, Malaysia, Indonesia) by utilising monthly data over the period of January 2005 to December 2015. Applying the panel least square regression techniques, the results show that both stock market returns are significantly affected by the exchange rate and inflation rate. Money supply is found to be insignificant. The findings of this paper also conclude that inflation poses a greater effect and inversely related to the stock market returns. In this case, there is a need for amendment in monetary policy to ensure that inflation rate is set at a low level, since the results would be able to bring an impact to boost the capital market in the selected ASEAN countries.

Keywords

Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

-

Yazarlar

Nurasyikin Jamaludin Bu kişi benim

Shahnaz Ismail Bu kişi benim

Syamimi Ab Manaf Bu kişi benim

Yayımlanma Tarihi

1 Mart 2017

Gönderilme Tarihi

1 Mart 2017

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2017 Cilt: 7 Sayı: 1

IZ

https://izlik.org/JA48RK76KG

Kaynak Göster

RIS / Bibtex
APA
Jamaludin, N., Ismail, S., & Manaf, S. A. (2017). Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries. International Journal of Economics and Financial Issues, 7(1), 37-45. https://izlik.org/JA48RK76KG
AMA
1.Jamaludin N, Ismail S, Manaf SA. Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries. IJEFI. 2017;7(1):37-45. https://izlik.org/JA48RK76KG
Chicago
Jamaludin, Nurasyikin, Shahnaz Ismail, ve Syamimi Ab Manaf. 2017. “Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries”. International Journal of Economics and Financial Issues 7 (1): 37-45. https://izlik.org/JA48RK76KG.
EndNote
Jamaludin N, Ismail S, Manaf SA (01 Mart 2017) Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries. International Journal of Economics and Financial Issues 7 1 37–45.
IEEE
[1]N. Jamaludin, S. Ismail, ve S. A. Manaf, “Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries”, IJEFI, c. 7, sy 1, ss. 37–45, Mar. 2017, [çevrimiçi]. Erişim adresi: https://izlik.org/JA48RK76KG
ISNAD
Jamaludin, Nurasyikin - Ismail, Shahnaz - Manaf, Syamimi Ab. “Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries”. International Journal of Economics and Financial Issues 7/1 (01 Mart 2017): 37-45. https://izlik.org/JA48RK76KG.
JAMA
1.Jamaludin N, Ismail S, Manaf SA. Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries. IJEFI. 2017;7:37–45.
MLA
Jamaludin, Nurasyikin, vd. “Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries”. International Journal of Economics and Financial Issues, c. 7, sy 1, Mart 2017, ss. 37-45, https://izlik.org/JA48RK76KG.
Vancouver
1.Nurasyikin Jamaludin, Shahnaz Ismail, Syamimi Ab Manaf. Macroeconomic Variables and Stock Market Returns: Panel Analysis from Selected ASEAN Countries. IJEFI [Internet]. 01 Mart 2017;7(1):37-45. Erişim adresi: https://izlik.org/JA48RK76KG