Factor Affecting Vietnam Stock Price

IMPACT OF MACROECONOMIC INDICATORS ON
VIETNAMESE STOCK PRICES

KHALED HUSSAINEY1
University of Stirling
and
LE KHANH NGOC
The University of tote and Social Affairs

Journal of Risk Finance
Volume 4, Forthcoming,
2009

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Correspondence should be addressed to: Dr. Khaled Hussainey; Division of
Accounting & Finance, Stirling Management School, The University of Stirling,
Stirling FK9 4LA, UK. Email: Khaled.Hussainey@stir.ac.uk.

Abstract
excogitation: We investigate the effects of macroeconomic indicators (interest rate and
industrial production) on Vietnamese stock prices. We also examine how US
macroeconomic indicators accept Vietnamese stock prices.
Methodology: We use monthly time series data covering the period January 2001 to
April 2008. We follow the methodology introduced by Nasseh and Strauss (2000) and
Canova and De Nicolo (1995) to investigate the linkage between stock prices and
macroeconomic indicators.
Findings: We provide the first empirical evidence that there is a statistically significant
associations between domestic production sector, money foodstuff and stock prices in
Viet Nam. Another novel finding is that the US macroeconomic fundamentals
significantly come to Vietnamese stock prices.



Finally, our results show that the influence
of the US real sector is proven to be stronger than that of money market.
Originality: Since preliminary research has focused on developed economies, we strongly
believe that our constitution provides a novel contribution to finance literature as we are the
first to examine this issue in Viet Nam.
potpourri: Research paper
Keywords: macroeconomic indicators; Viet Nam; US markets; emerging markets;
developing countries.

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1. Introduction
at that place are longstanding academic studies which prove that macroeconomic indicators
move stock prices. To date, however, there is limited research on how these indicators
affect emerging stock markets.
Fama (1981) finds a significant relationship...If you want to force back a full essay, order it on our website: Ordercustompaper.com



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