The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia
This paper examines the impact of commodity prices (palm oil price, oil price, and gold price), interest rate, and exchange rate on the Malaysian stock market performance. Employing the bounds test approach, the results of the study showed cointegrating relationships among variables. Specifically, t...
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Universiti Utara Malaysia
2014
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my.uum.repo.165742016-05-24T02:40:40Z http://repo.uum.edu.my/16574/ The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia Nordin, Norhafiza Nordin, Sabariah Ismail, Rusmawati HD28 Management. Industrial Management This paper examines the impact of commodity prices (palm oil price, oil price, and gold price), interest rate, and exchange rate on the Malaysian stock market performance. Employing the bounds test approach, the results of the study showed cointegrating relationships among variables. Specifically, the results revealed a significant influence of palm oil price on the stock market index.However, no significant influence was observed for both the oil price and gold price. Interest rate and exchange rate showed significant influences, which are consistent with past empirical studies.One important policy implication from this study is that the authorities should also pay attention to the effect of commodity prices, in addition to macroeconomic variables, in implementing relevant polices, as they may have a negative impact on the Malaysian stock market. Universiti Utara Malaysia 2014 Article PeerReviewed application/pdf en http://repo.uum.edu.my/16574/1/4mmj18.pdf Nordin, Norhafiza and Nordin, Sabariah and Ismail, Rusmawati (2014) The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia. Malaysian Management Journal, 18. pp. 39-52. ISSN 0128-6226 http://mmj.uum.edu.my/index.php/current-issues |
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HD28 Management. Industrial Management Nordin, Norhafiza Nordin, Sabariah Ismail, Rusmawati The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
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This paper examines the impact of commodity prices (palm oil price, oil price, and gold price), interest rate, and exchange rate on the Malaysian stock market performance. Employing the bounds test approach, the results of the study showed cointegrating relationships among variables. Specifically, the results revealed a significant influence of palm oil price on the stock market index.However, no significant influence was observed for both the oil price and gold price. Interest rate and exchange rate showed significant influences, which are consistent with past empirical studies.One important policy implication from this study is that the authorities should also pay attention to the effect of commodity prices, in addition to macroeconomic variables, in implementing relevant polices, as they may have a negative impact on the Malaysian stock market. |
format |
Article |
author |
Nordin, Norhafiza Nordin, Sabariah Ismail, Rusmawati |
author_facet |
Nordin, Norhafiza Nordin, Sabariah Ismail, Rusmawati |
author_sort |
Nordin, Norhafiza |
title |
The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
title_short |
The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
title_full |
The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
title_fullStr |
The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
title_full_unstemmed |
The impact of commodity prices, interest rate and exchange rate on stock market performance: An empirical analysis from Malaysia |
title_sort |
impact of commodity prices, interest rate and exchange rate on stock market performance: an empirical analysis from malaysia |
publisher |
Universiti Utara Malaysia |
publishDate |
2014 |
url |
http://repo.uum.edu.my/16574/1/4mmj18.pdf http://repo.uum.edu.my/16574/ http://mmj.uum.edu.my/index.php/current-issues |
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1644282005564686336 |
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13.160551 |