The impact of macroeconomic variables on industrial shares listed on the Johannesburg Stock Exchange

dc.contributor.authorBanda, Kamoto
dc.contributor.authorHall, J.H. (John Henry)
dc.contributor.authorPradhan, Rudra P.
dc.contributor.emailjohn.hall@up.ac.zaen_ZA
dc.date.accessioned2020-03-10T06:09:06Z
dc.date.issued2019
dc.description.abstractThis paper aims to address the absence of research on the relationship between macroeconomic variables (aggregate economic output, inflation, interest rates and exchange rates) and industrial shares in developing countries. The Industrial Index (INDI 25) on the Johannesburg Stock Exchange (JSE) was analysed using data from 1995 to 2017. The results show that inflation has a significant positive relationship with stock prices. However, a negative relationship was found between interest rates and stock prices. In this period, exchange rates had a positive effect on industrial shares, but no relationship was identified between industrial shares and the gross domestic product (GDP).en_ZA
dc.description.departmentFinancial Managementen_ZA
dc.description.embargo2020-11-15
dc.description.librarianhj2020en_ZA
dc.description.urihttps://www.tandfonline.com/loi/reme20en_ZA
dc.identifier.citationKamoto Banda, John Henry Hall & Rudra P. Pradhan (2019) The impact of macroeconomic variables on industrial shares listed on the Johannesburg Stock Exchange, Macroeconomics and Finance in Emerging Market Economies, 12:3, 270-292, DOI: 10.1080/17520843.2019.1599034.en_ZA
dc.identifier.issn1752-0843 (print)
dc.identifier.issn1752-0851 (online)
dc.identifier.other10.1080/17520843.2019.1599034
dc.identifier.urihttp://hdl.handle.net/2263/73693
dc.language.isoenen_ZA
dc.publisherRoutledgeen_ZA
dc.rights© 2019 Informa UK Limited, trading as Taylor & Francis Group. This is an electronic version of an article published in Macroeconomics and Finance in Emerging Market Economies, vol. 12, no. 3, pp. 270-292, 2019. doi : 10.1080/17520843.2019.1599034. Macroeconomics and Finance in Emerging Market Economies is available online at : https://www.tandfonline.com/loi/reme20.en_ZA
dc.subjectGross domestic product (GDP)en_ZA
dc.subjectStock priceen_ZA
dc.subjectIndustrial Index (INDI 25)en_ZA
dc.subjectJohannesburg Stock Exchange (JSE)en_ZA
dc.subjectPrime interest rateen_ZA
dc.subjectExchange rateen_ZA
dc.titleThe impact of macroeconomic variables on industrial shares listed on the Johannesburg Stock Exchangeen_ZA
dc.typePostprint Articleen_ZA

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