Exchange Rate And Equity Price Relationship PDF Download
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Author | : Sekhar Amba |
Publisher | : |
Total Pages | : 11 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Exchange Rate and Equity Price Relationship Book in PDF, ePub and Kindle
This paper examines the relationship between stock prices and exchange rates in Mexican and Canadian Markets using weekly data from Jan 2013 to December 2018. Cointegration, Vector Error Correction model, Vector Auto Regression model and Granger causality tests are used to examine the long-term relationship and casual relationship between exchange rates and stock prices. Johansen cointegration tests confirm the insignificant existence of long-run relationships between stock prices and exchange rates in Canadian and Mexican markets. However, the Granger causality test confirms the existence of short-run unidirectional causal relationship from exchange rates to stock prices in the Mexican market.
Author | : Khosrow-Pour, Mehdi |
Publisher | : IGI Global |
Total Pages | : 396 |
Release | : 2017-03-31 |
Genre | : Business & Economics |
ISBN | : 1522522468 |
Download Handbook of Research on Global Enterprise Operations and Opportunities Book in PDF, ePub and Kindle
Organizational applications and managerial implications of new technology resources require a forum for the discussion of issues of best business practice and success. The Handbook of Research on Global Enterprise Operations and Opportunities is a valuable source for the latest research on global resource management with a focus on the managerial and organizational facets. Featuring coverage on a range of topics and perspectives such as global enterprise systems, IT diffusion, and global data security, this publication is ideally designed for researchers, academics, and practitioners seeking current research on approaches to successful business technology use in all countries.
Author | : Parham Parsva |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 176 |
Release | : 2012 |
Genre | : |
ISBN | : 9783659223105 |
Download The Relationship Between Stock Prices and Exchange Rates Book in PDF, ePub and Kindle
In spite of fast economic growth in the Middle East, less attention has been paid by researchers and investigators to the region compared with other emerging markets in the Europe, Asia-Pacific region, etc. This study investigates the relationship between stock prices and exchange rates in ten Middle Eastern countries, namely, Bahrain, Egypt, Iran, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) before and after the 2007 global financial crisis. The main findings from this research provide valuable insights into the characteristics and patterns of Middle Eastern stock markets and foreign exchange markets for policymakers, particularly in the area of exchange rate management.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 1989-05-12 |
Genre | : Business & Economics |
ISBN | : 1451974493 |
Download Exchange Rate Movements and International Interdependence of Stock Markets Book in PDF, ePub and Kindle
This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic effects on nominal stock prices. A two-country theoretical model is developed and an attempt is made to reconcile the empirical findings with the properties of this model. Independent evidence on the main sources of shocks is used to argue that the time-varying correlation in the data can be reconciled with the predictions of the theory.
Author | : Fauziah Ifa |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 120 |
Release | : 2016-01-04 |
Genre | : |
ISBN | : 9783659819865 |
Download Dynamic Relationship Between Stock Prices and Exchange Rates in Asia Book in PDF, ePub and Kindle
There are two different and conflicting models to determine the relationship between exchange rate and stock prices. The first model, "Flow-Oriented" states that currency or exchange rate changes affect the competitiveness of a company, which in turn affect the company's revenues or cost of funds and the subsequent impact on the company's stock price. Meanwhile, according to the two models namely "Stock-oriented" which emphasizes the role of capital account transactions stated that the rise in stock returns (rising stock market) would attract capital flows which in turn will increase the domestic money permintaanmata and cause exchange rate to appreciate. Therefore, this study was conducted to determine if there cointegration and causality relationship between exchange rates and stock prices in Asia. The objects of this study are Indonesia, Singapore, Taiwan, Malaysia, China, South Korea, Japan, Hong Kong, Thailand, and India with the study period January 2009 to December 2013. Data used are secondary data in the form of monthly data from the foreign exchange market (exchange rate) and capital markets (stock index).
Author | : Justin Nelson Michael |
Publisher | : |
Total Pages | : 9 |
Release | : 2018 |
Genre | : |
ISBN | : |
Download The Dynamic Relationship Between Stock Prices and Exchange Rate - An Eygptian Experience Book in PDF, ePub and Kindle
The economy of a nation is driven by a robust securities market. The growth of a nation is indubitably based on the strength and stability of its secondary market systems and intermediaries. The mobilization of funds and its flow into diverse sectors of the economy in a regulated manner signifies dynamism and progress. The Egyptian economy has been in a trajectory of progress right since the establishment of its secondary market and its stock index EGX 30 in 2009. The Egyptian pound (EGP) has been focus of Egyptian monetary policy due to undue stress on the pound during the recent years. The Central Bank of Egypt (CBE) has been in the forefront of all monetary measures to stabilise the pound. The growth and development of a nation is charted by the changing economic and business environment. Any change in the foreign exchange market is sure to leave its footprint in the secondary market. All researchers in the field of foreign exchange management have been intrigued by the relationship between secondary market and forex market. Many an investigation has been undertaken to find if there is a significant relation between stock prices and exchange rates. The recent transition in Egyptian economy to a floating rate mechanism and efforts to stabilize the pound have attracted researchers to find out the effects of such a monetary change. The relationship between securities market and forex market has to be given a serious thought before any decision pertaining to forex market policy and regulation. This study analyses the dynamic relationship between stock market and exchange rate in Egypt using Engle-Granger cointegration methodology and Granger causality test.
Author | : J. Orlin Grabbe |
Publisher | : |
Total Pages | : 440 |
Release | : 1991 |
Genre | : Business & Economics |
ISBN | : 9780135006122 |
Download International Financial Markets Book in PDF, ePub and Kindle
Designed to provide readers with a solid framework for exploring financial markets as markets, this best-selling book dellineates the basic rules of the game in each of the three major international financial markets: foreign exchange, eurocurrencies, and international bonds, and conveys an intuitive feel for market dynamics. KEY TOPICS: Blends theory and institutional accounts. Considers the interbank market in foreign exchange. Explains how to hedge with FX forwards, futures, and options. A new chapter explores aspects of the European Monetary System in two separate discussions: historical background and general features; and the technical details of the Exchange Rate Mechanism. For readers interested in International Financial Markets. The previous edition ISBN is 0-13-500612-0.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 1988-04-05 |
Genre | : Business & Economics |
ISBN | : 1451979975 |
Download Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation Book in PDF, ePub and Kindle
This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an optimizing model in which the process of capital accumulation entails adjustment costs. The analysis demonstrates that along an adjustment path toward long-run equilibrium, appreciation of the real exchange rate will accompany a decline in the market price of equity, whereas depreciation of the real exchange rate will accompany a rise in the price of equity. This relationship results from the requirement that non-traded inputs are used in the investment process. In the short-run, though, the effects on these variables depend critically on whether disturbances originate in the non-traded sector and on whether disturbances are perceived as temporary or permanent. The disturbances considered include changes in fiscal policies as well as changes in the world interest rate.
Author | : Shigeyuki Hamori |
Publisher | : Springer Science & Business Media |
Total Pages | : 140 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1441992081 |
Download An Empirical Investigation of Stock Markets Book in PDF, ePub and Kindle
An Empirical Investigation of Stock Markets: The CCF Approach attempts to make an empirical contribution to the literature on the movements of stock prices in major economies, i.e. Germany, Japan, the UK and the USA. Specifically, the cross-correlation function (CCF) approach is used to analyze the stock market. This volume provides some empirical evidence regarding the economic linkages among a group of different countries. Chapter 2 and Chapter 3 analyze the international linkage of stock prices among Germany, Japan, the UK and the USA. Chapter 2 applies the standard approach, whereas Chapter 3 uses the CCF approach. Chapter 4 analyzes the relationship between stock prices and exchange rates. Chapter 5 analyzes the relationship among stock prices, exchange rates, and real economic activities. Chapter 6 summarizes the main results obtained in each chapter and comments on the possible directions of future research.
Author | : Robert A. Amano |
Publisher | : |
Total Pages | : 28 |
Release | : 1995 |
Genre | : Foreign exchange |
ISBN | : 9780662237785 |
Download Exchange Rates and Oil Prices Book in PDF, ePub and Kindle