Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail
The objective ofthis study is to investigate the performance ofthe stock market as an indicator to real activity. The evidence ofthis relationship will focus on the sample of data obtained from Malaysia, Japan, Australia, India and Pakistan. The ordinary least square (OLS) and ECM-causality are u...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Institute of Research, Development and Commercialization (IRDC)
2007
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| Online Access: | https://ir.uitm.edu.my/id/eprint/13521/1/AJ_MASTURAH%20MA%27IN%20SMRJ%2007%201.pdf |
| _version_ | 1825734124424396800 |
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| author | Ma'in, Masturah Md. Salleh, Arifin Ismail, Abd. Ghafar |
| author_facet | Ma'in, Masturah Md. Salleh, Arifin Ismail, Abd. Ghafar |
| author_sort | Ma'in, Masturah |
| collection | UITM |
| description | The objective ofthis study is to investigate the performance ofthe stock market
as an indicator to real activity. The evidence ofthis relationship will focus on
the sample of data obtained from Malaysia, Japan, Australia, India and
Pakistan. The ordinary least square (OLS) and ECM-causality are used to
examine the cointegration relationship and causality effect through the sample
of data frequency to the related countries. The results show that there is
causal-link between stock returns and industrial production index. This
particularly exists in Australia, Japan and Malaysia. However, in Pakistan
and India, there are no effects traced Therefore, based on the empirical
evidence, it clearly shows that the stock market does not predict the real
activity in all Asian countries compared to the developed countries in which
their stock markets play an important role in predicting the real activity. |
| first_indexed | 2024-03-06T01:27:06Z |
| format | Article |
| id | oai:ir.uitm.edu.my:13521 |
| institution | Universiti Teknologi MARA |
| language | English |
| last_indexed | 2024-03-06T01:27:06Z |
| publishDate | 2007 |
| publisher | Institute of Research, Development and Commercialization (IRDC) |
| record_format | dspace |
| spelling | oai:ir.uitm.edu.my:135212016-06-30T08:51:48Z https://ir.uitm.edu.my/id/eprint/13521/ Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail smrj Ma'in, Masturah Md. Salleh, Arifin Ismail, Abd. Ghafar Performance standards Financial management. Business finance. Corporation finance Stock exchanges. Insider trading in securities The objective ofthis study is to investigate the performance ofthe stock market as an indicator to real activity. The evidence ofthis relationship will focus on the sample of data obtained from Malaysia, Japan, Australia, India and Pakistan. The ordinary least square (OLS) and ECM-causality are used to examine the cointegration relationship and causality effect through the sample of data frequency to the related countries. The results show that there is causal-link between stock returns and industrial production index. This particularly exists in Australia, Japan and Malaysia. However, in Pakistan and India, there are no effects traced Therefore, based on the empirical evidence, it clearly shows that the stock market does not predict the real activity in all Asian countries compared to the developed countries in which their stock markets play an important role in predicting the real activity. Institute of Research, Development and Commercialization (IRDC) 2007 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/13521/1/AJ_MASTURAH%20MA%27IN%20SMRJ%2007%201.pdf Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail. (2007) Social and Management Research Journal (SMRJ) <https://ir.uitm.edu.my/view/publication/Social_and_Management_Research_Journal_=28SMRJ=29/>, 4 (1). pp. 39-52. ISSN 1675-7017 https://smrj.uitm.edu.my/ |
| spellingShingle | Performance standards Financial management. Business finance. Corporation finance Stock exchanges. Insider trading in securities Ma'in, Masturah Md. Salleh, Arifin Ismail, Abd. Ghafar Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title | Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title_full | Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title_fullStr | Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title_full_unstemmed | Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title_short | Stock market and real activity : an empirical study of several Asian countries / Masturah Ma'in, Arifin Md. Salleh and Abd. Ghafar Ismail |
| title_sort | stock market and real activity an empirical study of several asian countries masturah ma in arifin md salleh and abd ghafar ismail |
| topic | Performance standards Financial management. Business finance. Corporation finance Stock exchanges. Insider trading in securities |
| url | https://ir.uitm.edu.my/id/eprint/13521/1/AJ_MASTURAH%20MA%27IN%20SMRJ%2007%201.pdf |
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