Theoretical and Applied Economics
No. 9 / 2013 (586)
Do investors consider composite leading indicators? Time series evidence from emerging countries
Nevsehir University, Faculty of Economics and Administrative Sciences, Turkey
Ulas UNLU
Nevsehir University, Vocational High School, Turkey
Abstract. The nexus between macroeconomic indicators and stock market has been worthy of examination in emerging markets in the recent years. This paper therefore aims to investigate the long run and causal relationship between Composite Leading Indicators (CLI) and share prices in the thirteen emerging markets. Findings obtained from the analyses do not provide consistent results across all emerging markets. Empirical evidences of this study indicate that component structure of CLI and financial development level of questioned countries appears to play important role in determining the effectiveness of CLI in investors’ decisions.
Contents
The sustainable company: new challenges and strategies for more sustainability
The impact of accounting information on managerial decisions – Empirical study conducted in the hospitality industry entities in Romania
Exchange rate volatility effects on export competitiveness. Romanian Case
Do investors consider composite leading indicators? Time series evidence from emerging countries
Can Member States unlock the national competitiveness through export market share effects?
Innovation – a national priority, supported by the regional development agencies
Pros and cons of using derivatives
Harmonization process in defining small and medium-sized enterprises. Arguments for a quantitative definition versus a qualitative one
Management strategies of the financial-economical crisis in the hotel’s domain
Mathematics in economics. A perspective on necessity and sufficiency
Financial stability between liberalization and regulation