연구정보
Influence of Macroeconomic Variable on Indian Stock Movement: Cointegration Approach
인도 국외연구자료 기타 Vardhan, Harsh and Sinha, Pankaj MPRA 발간일 : 2015-05-15 등록일 : 2015-05-21 원문링크
Abstract
The purpose of this study is to explore the influence of identified macroeconomic variables on Indian stock returns during the post liberalization period using Vector Error Correction Model (VECM). It was found that the nine macroeconomic variables have both long-term relationship and short-term relationship with SENSEX returns. This fact provided insight into a variety of interesting interrelationships between multiple macroeconomic variables, which gives direction for further reforms in the emerging market.