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.
Keywords: share prices; composite leading indicators; emerging markets.
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Contents
- The impact of accounting information on managerial
decisions – Empirical study conducted in the hospitality
industry entities in Romania
Sorin BRICIU
Carmen SCORŢE
Ioana MEŞTER
- Exchange rate volatility effects on export
competitiveness. Romanian Case
Anca GHERMAN
George ŞTEFAN
Adriana FILIP
- Do investors consider composite leading indicators?
Time series evidence from emerging countries
Mert TOPCU
Ulas UNLU
- Can Member States
unlock the national competitiveness
through export market share effects?
Angela Cristina POPA
Călin CANTEMIR
- Innovation – a national priority, supported
by the regional development agencies
Elena ENACHE
Cristian MOROZAN
- Pros and cons of using derivatives
Ramona GOGONCEA
Ioana-Diana PAUN
- Harmonization process in defining
small and medium-sized enterprises.
Arguments for a quantitative definition
versus a qualitative one
Maria-Mădălina BUCULESCU (COSTICĂ)
- Financial stability between liberalization
and regulation
Cristian IONESCU
