Macroeconomic factors and stock returns: Evidence from the emerging market of Asia

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Muhammad Asad Saleem Malik
Saher Touqeer
Shumaila Zeb

Abstract

This study examines the impact of macroeconomic variables on stock returns of Pakistan, India and Sri Lanka for the period of 1997-2014. GMM approach is used to analyze the impact of macroeconomic variables on stock returns. Variables of the study were T-Bills, Exchange Rate, Consumer Price Index (CPI) and the Industrial Production Index (IPI). The results of study show that T-bills rate has significant negative impact while Exchange rate has a significant positive impact on the Stock Returns of the study period.

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How to Cite
Saleem Malik, M. A., Touqeer, S., & Zeb, S. (2018). Macroeconomic factors and stock returns: Evidence from the emerging market of Asia. Journal of Economic Info, 5(3), 16-20. https://doi.org/10.31580/jei.v5i3.99
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