The Review of Macroeconomic Factors and Stock Returns
The Review of Macroeconomic Factors and Stock Returns
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2012
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eng
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application/pdf
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9 pages
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International Business Research 5,8 (2012) : 107-115
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Abstract
This paper aims to review a number of studies on macroeconomic factors and stock returns. All of the
macroeconomic variables are classified into four groups: variables reflecting general economic conditions,
variables related to interest rate and monetary policy, variables concerning price level, and variables concerning
international activities. Furthermore, various studies on macroeconomics factors and stock returns have
employed different methodologies based on their purposes and interpretations. Although the results are mixed,
most studies have shown evidence that there are significant relationships between macroeconomic variables and
stock returns.