generally, high oil prices slow economic growth, cause inflationary pressures and creates global imbalances. in addition, oil price volatility increase uncertainty and restrain the much-needed investment in the capital market. thus, this paper applies the augmented dickey fuller and johansen co-integration tests in which the effect of oil price volatility, crude oil price and stock price is ana...

In this paper, we investigate the statistical properties of the waiting times between two successive price changes above a fixed threshold (or a fixed point) for the indices of Shanghai Stock Exchange and Shenzhen Stock Exchange. The database is from the indices of Shanghai and Shenzhen in the 10-year period from January 1997 to December 2006, and the empirical research shows that the distribut...

a r t i c l e i n f o JEL classification: E52 G10 G14 Keywords: High oil price events Asymmetric impacts of monetary shocks Financing constraints This paper investigates whether a high oil price event that worsens the quality of a firm's balance sheet in turn provides an additional transmission channel to the stock market, which then affects stock returns. We examine the asymmetric impacts of m...

Stock exchange and interest rate are two crucial factors of economic growth of a country. The impacts of interest rate on stock exchange provide important implications for monitory policy, risk management practices, financial securities valuation and government policy towards financial markets. This study seeks evidence supporting the existence of share market efficiency based on the monthly da...

explaining dividend policy has been one of the most difficult challenges facing financial economists. despite decades of study, we have yet to completely understand the factors that influence dividend policy and the manner in which these factors interact.the aim of this paper is to examine the relation between dividend policy and share price volatility in tehran stock exchange (tse). the analys...

We assess the impact of the opium trade on the economies of colonial Malaya, Netherlands Indies, and China from 1873 to 1911 using a new database of stock and commodity prices, plus measures of government revenues, commodity exports, and immigration. Stock returns for a few Malayan industries related to international trade are significantly correlated with opium price changes, as are prices for...

In many empirical studies, the dynamic relationship among energy sector variables (such as, oil, electricity, gasoline, coal, renewable energy, etc.) and economic variables (such as; financial markets, real economy and the overall economy) are studied. Oil price changes may affect the economic variables more of oil importer countries then oil exporter countries especially emerging markets. In a...

forecasting stock price had been paying attention to many analysts and stockholders. today, this issue more recent years has been do by new methods but new methods, good enough, not have analysis of description and changes effective variables on stock price whereas all this method rely on regression bases. ardl (autoregression distributed lag ) of one equation cumulative regression method obtai...

Stock market is affected by news and information. If the stock market is not efficient, the reaction of stock price to news and information will place the stock market in overreaction and under-reaction states. Many models have been already presented by using different tools and techniques to forecast the stock market behavior. In this study, the reaction of stock price in the stock market was ...