This service is more advanced with JavaScript available, learn more at http: Business, Economics, Financial Sciences, and Management pp Movement of stock indices is responsive to changes in macroeconomic fundamentals.

The objective of this study is to find the relationship between macroeconomic variables and stock prices in Karachi Stock Exchange KSE , Pakistan. The study considers annual data of several macroeconomic variables from to The stationarity of data is checked through Augmented Dickey Fuller test.

All variables are stationary at zero lag. Multiple regression analysis with Fixed Effects Model is then used. Results show that gross domestic product and exchange rate positively affect stock prices while consumer price index negatively affects stock prices. The results of export, money supply M2, foreign direct investment and oil prices were insignificant.

This study will facilitate investors in taking effective investment decisions by estimating the expected trends in macroeconomic variables.

Impact of Macroeconomic Variables on Stock Prices: Empirical Evidence from Karachi Stock Exchange, Pakistan | SpringerLink

Unable to display preview. Part of Springer Nature. Not logged in Not affiliated Impact of Macroeconomic Variables on Stock Prices: Empirical Evidence from Karachi Stock Exchange, Pakistan. Cite this paper as: Advances in Intelligent and Soft Computing, vol Do Macroeconomic Variables Play any role in the Stock Market in Ghana? MPRA Paper No , pp.

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Impact of macroeconomic variables on stock prices: Institute of Management Sciences Peshawar Pakistan. Publisher Name Springer, Berlin, Heidelberg Print ISBN Online ISBN eBook Packages Engineering About this book Reprints and Permissions.

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