Testing the effects of government expenditures on Tehran stock exchange indexes
Nowadays many of economic theorisians believes that budgeting policies of government and its expenditures affects on financial markets. In this paper, we tried to examine the effect of governmental capital expenditures to the main indexes of stock market in Iran. To study the above issues, the real...
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| Format: | Article |
| Language: | fas |
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Alzahra University
2014-03-01
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| Series: | پژوهشهای تجربی حسابداری |
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| Online Access: | http://jera.alzahra.ac.ir/article_603_82d3e094907588aee16c7e119ccf0c08.pdf |
| Summary: | Nowadays many of economic theorisians believes that budgeting policies of government and its expenditures affects on financial markets. In this paper, we tried to examine the effect of governmental capital expenditures to the main indexes of stock market in Iran.
To study the above issues, the real information about the capital expenditure of government and Tehran price index (TEPIX),industry index, 50 top companies index and selected industries index in the period of (1997-2011)with seasonal data were extracted and analyzed with field study approach. Thus this data’s had tested with using descriptive statistical and regression estimation models.
The results of the tests and estimated models show that there is a meaningful relation between government expenditures and TEPIX and selected industry index. Furthermore the study showed that these relations are into existence in the long run for these variables. |
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| ISSN: | 2251-8509 2538-1520 |