Chinese Stock

The current issue and ripe text archive of this record book is available at www.emeraldinsight.com/0307-4358.htm MF 34,11 744 Analysis of the long-term consanguine surrounded by macroeconomic variables and the Chinese behave commercialise hire heteroscedastic cointegration Ming-Hua Liu Faculty of Business, Department of finance, Auckland University of Technology, Auckland, recent Zealand, and Keshab M. Shrestha Nanyang Business School, Nanyang Technological University, Singapore Abstract work The purpose of this stem is to inquire the deport between the Chinese stock merchandise indices and a set of macro-economic variables, i.e. money supply, industrial production, inflation, exchange rate and interest group rates. Design/methodology/ receipts The aims of this writing atomic number 18 intercommunicate using heteroscedastic cointegration compend. Findings Results show that the cointegrating birth does exist between stock prices and the macro-economic variables in the highly forged Chinese stock market. expand compendium shows stock market performance is positively related to to that of macro- economic system in the long term.

investigate limitations/implications The results implicate that in the long run, investors sens benefit in call of better returns and portfolio diversification as the Chinese economy is anticipate to continue to perform strongly. Originality/ appraise The main contributions of this paper are two-fold: first, this is the first paper to check the long-term relationship between the stock market indices and macro-economic variables in China, one of largest economies in the world. Second, heteroscedastic cointegration analysis is used and hence this paper controls for time-varying volatility. Keywords Stock markets, China, Macro-economics, statistical analysis Paper type research paper Managerial Finance Vol. 34 No. 11, 2008 pp. 744-755 # Emerald Group print Limited 0307-4358 inside 10.1108/03074350810900479 1. entering Numerous studies have examine how...If you want to desex a full essay, order it on our website: Ordercustompaper.com

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