entrepreneuship
RESEARCH PROPOSAL
Submitted by: Nawshad Ali Bhunnoo
ID number: 1114525
Course name: BSc (Hons) Finance (minor: Law)
Date of submission: 29th April 2013
Lecturer’s name: Mr U. Subadar
Table of Contents
Introduction
Problem Statement
Aims and Objectives.
Literature review
Empirical review
Methodology
Expected Output
Benefits of the Research
The Gantt Chart
Budgeting
References
Introduction
The stock market plays an essential role in the proper functioning of a country’s economy as it is a way to redirect capital to productive investments. The stock market plays a play a central role in the advancement of commerce, trade and development of the country which in turn impacts on the economy. The stock market index is one of the main indicators taken into account by investors willing to invest in the country.
Furthermore, the stock market enables listed companies to raise funds, allowing business expansion possibilities and supporting newly listed firms, through the issue of shares and Initial public offerings (IPOs) respectively. These investments boost the level of economic activity and create employment.
The efficient market hypothesis (EMH), in its semi-strong form, states that stock prices must reflect past historical data and publicly available information (Fama 1970). This has important implications to policy-makers.
The overall future performance of firms listed on the stock market is reflected in the stock market returns, and these firms’ profits normally influence the country’s level of economic activities. So, the stock returns have to be considered as one of the main indicators of future economic activities in the country. Consequently, the causal relationships between macroeconomic factors and stock market returns are significant in the making of the country’s macroeconomic policies.
The stock market is very
Submitted by: Nawshad Ali Bhunnoo
ID number: 1114525
Course name: BSc (Hons) Finance (minor: Law)
Date of submission: 29th April 2013
Lecturer’s name: Mr U. Subadar
Table of Contents
Introduction
Problem Statement
Aims and Objectives.
Literature review
Empirical review
Methodology
Expected Output
Benefits of the Research
The Gantt Chart
Budgeting
References
Introduction
The stock market plays an essential role in the proper functioning of a country’s economy as it is a way to redirect capital to productive investments. The stock market plays a play a central role in the advancement of commerce, trade and development of the country which in turn impacts on the economy. The stock market index is one of the main indicators taken into account by investors willing to invest in the country.
Furthermore, the stock market enables listed companies to raise funds, allowing business expansion possibilities and supporting newly listed firms, through the issue of shares and Initial public offerings (IPOs) respectively. These investments boost the level of economic activity and create employment.
The efficient market hypothesis (EMH), in its semi-strong form, states that stock prices must reflect past historical data and publicly available information (Fama 1970). This has important implications to policy-makers.
The overall future performance of firms listed on the stock market is reflected in the stock market returns, and these firms’ profits normally influence the country’s level of economic activities. So, the stock returns have to be considered as one of the main indicators of future economic activities in the country. Consequently, the causal relationships between macroeconomic factors and stock market returns are significant in the making of the country’s macroeconomic policies.
The stock market is very
References: 7. Robert D. Gay, Jr (March 2008): “Effect Of Macroeconomic Variables On Stock Market Returns For Four Emerging Economies: Brazil, Russia, India, And China” 8 9. Maysami, Howe & Hamzah (2004): “Relationship between Macroeconomic variables and Stock Market Indices: Cointegration Evidence from Stock Exchange of Singapore’s All-S Sector Indices” 10 11. A.Hussain, I.Lal & M.Mubin (2009): “Short run and Long run Dynamics of Macroeconomics Variables and Stock prices: Case Study of KSE (Karachi Stock Exchange)” 12 13. Sohail and Hussain (2009): “Long run and short run relationship between macroeconomic variables and stock prices in Pakistan: The case for Lahore stock exchange.” 14 15. Johansen (1991): “Estimation and Hypothesis of Cointegration Vectors in Gaussian Vector Autoregressive Models” Econometrica 59, pg 1551-1580