We investigate to what extent important results on relations among stock returns and
macroeconomic factors from major markets are valid in a small, open economy by utilizing …

While the relationship between stock market returns and macroeconomic variables have
been amply examined, there is a gap in the literature when it comes to the relationship …

Chen, Roll and Ross (CRR)(1986) claimed recently to have found exogenous economic
factors in a multivariate Arbitrage Pricing Model. Using US data for the period 1958 to 1984 …

Purpose–The purpose of this paper is to investigate the performance of the arbitrage pricing
theory (APT) in the Istanbul Stock Exchange (ISE) on a monthly basis, for the period January …

The relation between macroeconomic variables and the movement of stock prices has well
been documented in the literature over the last several decades. It is often argued that stock …

The stock market has been historically viewed as a reliable instrument to indicate economic
processes. However, contemporary papers reveal the controversy of the issue. A clear …

The aim of this paper is to present evidence, for the first time, about the relationships of
global macroeconomic sources of risk with shipping stock returns internationally, for the …

The article examines the dependencies of individual sectoral stock price indices of OMX
Baltic security market on macroeconomic indicators, using econometric methods …

Purpose: This paper reviews the theoretical background and the empirical results of the
stock price volatility determinants under three categories: macroeconomic, company-specific …

Economic uncertainty is gradually spreading across the globe due to government
intervention and global development. Though it has been extensively shown in the literature …