Financial Globalization and Stock Return: Theory and Evidence from Time Series Data

Financial Globalization and Stock Return: Theory and Evidence from Time Series Data

In recent decades the world economy has witnessed vast changes that mainly occurred because of the emergence of factors that make up globalization. The purpose of this study is to evaluate the impact of financial globalization on stock return. In this respect, total foreign direct investment and inv...

Full description

Bibliographic Details
Main Authors: Saman Ghaderi, Mojtaba Rostami noroozabad
Format: Article
Language:fas
Published: University of Tehran 2017-02-01
Series:تحقیقات مالی
Subjects:
financial globalization
stock return
bounds test
ardl
iran
Online Access:https://jfr.ut.ac.ir/article_62588_87b3d5da1a52f89b617579d146b72cc7.pdf
id doaj-260d5bf19dd84976a4d8d6ed2bddfcdd
record_format Article
spelling doaj-260d5bf19dd84976a4d8d6ed2bddfcdd2020-11-25T02:11:23ZfasUniversity of Tehranتحقیقات مالی1024-81532423-53772017-02-0118471573410.22059/jfr.2017.6258862588Financial Globalization and Stock Return: Theory and Evidence from Time Series DataSaman Ghaderi0Mojtaba Rostami noroozabad1Assistant Prof. in Economic, University of Kurdistan, Sanandaj, IranPh.D. Student of Financial Management, Islamic Azad University, North Tehran Branch, Tehran, IranIn recent decades the world economy has witnessed vast changes that mainly occurred because of the emergence of factors that make up globalization. The purpose of this study is to evaluate the impact of financial globalization on stock return. In this respect, total foreign direct investment and investments in portfolios are employed as indicator of financial globalization. Also, among the other macroeconomic variables affecting the stock return, GDP, liquidity, inflation, market exchange rate and oil revenues are considered. This study applies the Bounds test and Autoregressive Distributed Lag (ARDL) models for Iranian economic during 1997-2015. The results provide a positive relationship between financial globalization and stock return. In other words, expansion of financial globalization lead to increase in stock return in Iran.https://jfr.ut.ac.ir/article_62588_87b3d5da1a52f89b617579d146b72cc7.pdffinancial globalizationstock returnbounds testardliran
collection DOAJ
language fas
format Article
sources DOAJ
author Saman Ghaderi
Mojtaba Rostami noroozabad
spellingShingle Saman Ghaderi
Mojtaba Rostami noroozabad
Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
تحقیقات مالی
financial globalization
stock return
bounds test
ardl
iran
author_facet Saman Ghaderi
Mojtaba Rostami noroozabad
author_sort Saman Ghaderi
title Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
title_short Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
title_full Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
title_fullStr Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
title_full_unstemmed Financial Globalization and Stock Return: Theory and Evidence from Time Series Data
title_sort financial globalization and stock return: theory and evidence from time series data
publisher University of Tehran
series تحقیقات مالی
issn 1024-8153
2423-5377
publishDate 2017-02-01
description In recent decades the world economy has witnessed vast changes that mainly occurred because of the emergence of factors that make up globalization. The purpose of this study is to evaluate the impact of financial globalization on stock return. In this respect, total foreign direct investment and investments in portfolios are employed as indicator of financial globalization. Also, among the other macroeconomic variables affecting the stock return, GDP, liquidity, inflation, market exchange rate and oil revenues are considered. This study applies the Bounds test and Autoregressive Distributed Lag (ARDL) models for Iranian economic during 1997-2015. The results provide a positive relationship between financial globalization and stock return. In other words, expansion of financial globalization lead to increase in stock return in Iran.
topic financial globalization
stock return
bounds test
ardl
iran
url https://jfr.ut.ac.ir/article_62588_87b3d5da1a52f89b617579d146b72cc7.pdf
work_keys_str_mv AT samanghaderi financialglobalizationandstockreturntheoryandevidencefromtimeseriesdata
AT mojtabarostaminoroozabad financialglobalizationandstockreturntheoryandevidencefromtimeseriesdata
_version_ 1724914475758256128

Similar Items