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Article: Stock prices, inflation and output: Evidence from India

TitleStock prices, inflation and output: Evidence from India
Authors
Issue Date1997
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/routledge/09603107.html
Citation
Applied Financial Economics, 1997, v. 7 n. 4, p. 439-445 How to Cite?
AbstractA negative relationship between stock market returns and inflationary trends has been widely documented for developed economies in Europe and North America. This study provides similar evidence for India. This relationship is investigated in light of Fama's explanation that centres around linkages between inflation and real activity, and between stock returns and real activity. Specifically, the study tests whether the negative stock return-inflation relationship is explained by a negative relationship between inflation and real economic activity, and a positive relationship between real activity and stock returns. The results from the heteroscedasticity and autocorrelation corrected models provide only partial support for Fama's hypothesis. The relationship between real activity and inflation does not account for the negative relationship between real stock returns and the unexpected component of inflation.
Persistent Identifierhttp://hdl.handle.net/10722/177644
ISSN
2015 SCImago Journal Rankings: 0.244

 

DC FieldValueLanguage
dc.contributor.authorChatrath, Aen_US
dc.contributor.authorRamchander, Sen_US
dc.contributor.authorSong, Fen_US
dc.date.accessioned2012-12-19T09:39:24Z-
dc.date.available2012-12-19T09:39:24Z-
dc.date.issued1997en_US
dc.identifier.citationApplied Financial Economics, 1997, v. 7 n. 4, p. 439-445en_US
dc.identifier.issn0960-3107en_US
dc.identifier.urihttp://hdl.handle.net/10722/177644-
dc.description.abstractA negative relationship between stock market returns and inflationary trends has been widely documented for developed economies in Europe and North America. This study provides similar evidence for India. This relationship is investigated in light of Fama's explanation that centres around linkages between inflation and real activity, and between stock returns and real activity. Specifically, the study tests whether the negative stock return-inflation relationship is explained by a negative relationship between inflation and real economic activity, and a positive relationship between real activity and stock returns. The results from the heteroscedasticity and autocorrelation corrected models provide only partial support for Fama's hypothesis. The relationship between real activity and inflation does not account for the negative relationship between real stock returns and the unexpected component of inflation.en_US
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/routledge/09603107.htmlen_US
dc.relation.ispartofApplied Financial Economicsen_US
dc.titleStock prices, inflation and output: Evidence from Indiaen_US
dc.typeArticleen_US
dc.identifier.emailSong, F: fmsong@hkucc.hku.hken_US
dc.identifier.authoritySong, F=rp01095en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/096031097333556-
dc.identifier.scopuseid_2-s2.0-0004655816en_US
dc.identifier.volume7en_US
dc.identifier.issue4en_US
dc.identifier.spage439en_US
dc.identifier.epage445en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridChatrath, A=6701310668en_US
dc.identifier.scopusauthoridRamchander, S=6603648934en_US
dc.identifier.scopusauthoridSong, F=7203075605en_US

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