Determinants of Stock Market Performance in Zambia
Journal of Economics, Management and Trade,
For economic development to take place, there are many components involved. Investment is a key component. The existence of stock markets has played a pivotal role in the raising of capital for companies. Therefore the performance of stock markets has been seen to be of significance. The stock Market in Zambia has been seen to fluctuate over the years. It has been noted that macroeconomic variables impact stock market performance. In this research it has been arrived at Interest rates and exchange rates have are indirectly proportional to stock market performance as money supply, GDP and Index of Industry performance have a direct relationship.
- Stock markets
- investment performance
How to Cite
Bernard Black and Ronald J. Gilson; Venture Capital and the sructure of capital Markets; 1998.
Beechey, Gruen, Vickery. The Efficient Market Hypothesis: A Survey. Bernistern, (1992), The Concept of stock market efficiency in global markets; 2000.
Ashikh. Testing the Weak Form of Efficient Market Hypothesis and the day of the Weak Efficient in Saudi Stock Exchange: Linear Approach: International Review of Business Research Papers; 2012.
Aurangzeb. Factors Affecting Performance of Stock Market: Evidence from South Asian countries. International Journal of Academic Research in Business and social sciences; 2012.
Akpan chikwudum. Influence of interest rates on Stock prices: An Analysis of the all Share index. International journal of Finance and Accounting; 2014.
Alam. Relationship between interest rates and Stock Price: Empirical evidence from Developed and Developing Countries. International Journal for Business and Management; 2009.
Aurangzeb. Factors Affecting Performance of Stock Market: Evidence from South Asian Countries. International Journal of Academic Research in Business and Social Sciences; 2012.
Ross Stephen A. The Arbitrage Theory of Capital Asset Pricing. Journal of Economic Theory; 1976.
Bernistern. The concept of Stock market Efficiency in Global Markets; 1992.
Beechey, Gruen and Vickery. The Efficient Market Hypothesis: A survey; 2000.
Agarwal RN. Foreign Portfolio Investment In Some Developing Countries: A Study of Determinants and Macroeconomic Impact. Indian Economic Review, Department of Economics; 1997.
Lipsey RG. An introduction to positive economics” 3rd Edition. William Chowes and Sons ltd; 1995.
Fama E. Efficient Capital Markets: A review of Theory and imperical Work. Journal of Finance; 1970.
Schoeffler S, Buzzell R, Heany D. The Profit Impact of Marketing Strategy, Harvard Business Review; 1974.
Morelli D. The relationship between Conditional Stock Market Volatility and Conditional Macroeconomic Volatility Empirical Data based on UK Data, International Review of Financial Analysis; 2002.
Kaul G. Stock returns and Inflation : The role of the money sector’’ Journal of Financial Economics; 1987.
Akila Weerapan, John B. Taylor, Principles of Macroeconomics; 2007.
Masyami and Koh, Cointergretion Evidence from Stock Exchange of Singapore; 2000.
Barnor C. The effect of Macroeconomic Variables on Stock Returns in Ghana; 2014.
Bren, et al. Estimating the effects of Exchange and Interest rates on Stock Market Performance; 1989.
Ederm, et al. Effects of Macroeconomic Variables on Instanbul stock Market; 2005.
Soenen, LA, Hennigar, ES, Effects of Interest and Exchange Rates on Stock Market Performance in Pakistan; 2017.
Bernanke Ben, A perspective on Inflation Targeting; 2003.
Mirchandani A, Analysis of Macroeconomic Determinants of Exchange Rate Volatility in India. International Journal of Finance and Economics; 2013.
Fama EF. Efficient Capital Markets: A Review of Theory and Emperical Work; 1970.
Allen, Brealey and Myers, The Efficient Market Hypothesis: A critical Review of Literature and Methodology; 2011.
Philip Jorion, The Exchange Rate-Exposure of US Multinationals; 1990
Greene J, Delano Villanueva, Private Investment in Developing Countries. An Empirical Analysis; 1991.
Deaton A. Saving in Developing Countries: Theory and Review; Journal of Public Economics; 1989.
Demetrides P, Khaled H. Does Financial Development cause Economic Growth?Time series evidence from 16 countries. Journal of Development Economics; 1996.
Merton R. Theory of Rational Option Pricing. Bell of Journal Economics and Management Science; 1973.
Kothari CR. Research Methodology: Methods and Technique; 2004.
Abstract View: 60 times
PDF Download: 12 times