Please use this identifier to cite or link to this item:
https://www.um.edu.mt/library/oar/handle/123456789/31406
Title: | How inflation, market capitalization, industrial production and the economic sentiment indicator affect the EU-12 stock markets |
Authors: | Subeniotis, Dimitrios N. Papadopoulos, Dimitrios L. Tampakoudis, Ioannis A. Tampakoudi, Athina |
Keywords: | Stock exchanges -- European Union countries Macroeconomics Inflation (Finance) -- European Union countries Securities -- European Union countries Valuation -- European Union countries Corporations -- Finance |
Issue Date: | 2011 |
Publisher: | University of Piraeus. International Strategic Management Association |
Citation: | Subeniotis, D. N., Papadopoulos, D. L., Tampakoudis, I. A., & Tampakoudi, A. (2011). How inflation, market capitalization, industrial production and the economic sentiment indicator affect the EU-12 stock markets. European Research Studies Journal, 14(1), 103-118. |
Abstract: | In the present study we map the relationship between the EU-12 stock market price indices and four crucial macroeconomic factors, using panel data analysis. The examined variables are market capitalization, industrial production, the economic sentiment indicator, and inflation, while the twelve countries are those which have adopted the euro. The empirical results reveal a strong effect of the first three factors, while inflation has a negative but not statistically significant coefficient. Further, the variables that affect the stock markets positively are market capitalization and the economic sentiment indicator. Finally, an applied statistical model confirms the significant convergence of the EU-12 stock markets in the long run, indicating a low geographic diversification across European markets. |
URI: | https://www.um.edu.mt/library/oar//handle/123456789/31406 |
Appears in Collections: | European Research Studies Journal, Volume 14, Issue 1 |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
ERSJ,_14(1)_-_A9.pdf | 459.75 kB | Adobe PDF | View/Open |
Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.