THE EXAMINATION OF RELATIONSHIP BETWEEN INFLATION RATE, INTEREST RATE AND GOLD RETURN WITH IRAN STOCK MARKET

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

MASHAYAKH SHAHNAZ; HAJI MORAD KHANI HADISE

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH) Year:2010 | Volume:1 | Issue:4 Page(s): 130-147

Download Full-Text

Persian Verion

View:

2,142

Download:

Cites:

Information Journal Paper

Title

THE EXAMINATION OF RELATIONSHIP BETWEEN INFLATION RATE, INTEREST RATE AND GOLD RETURN WITH IRAN STOCK MARKET

Author(s)

MASHAYAKH SHAHNAZ | HAJI MORAD KHANI HADISE | Issue Writer Certificate

Keywords

ECONOMIC VARIABLESQ3

TEHRAN STOCK EXCHANGEQ2

VECTOR AUTO-REGRESSIVE MODELQ3

JOHANSEN CO- INTEGRATION TESTQ3

VECTOR-ERROR CORRECTION MODELQ3

Abstract

This paper studies the relationships between some ECONOMIC VARIABLES (inflation rate, interest rate and growth rate of gold price) and TEHRAN STOCK EXCHANGE (stock market return and the growth rate of stock transactions volume) during April 1998 to March 2008. Moreover, the interest rate has been demonstrated using two variables: the return of bonds and the interest rate of one-year investing deposits in state banks.The two methods applied to test the hypotheses are: multivariable simple regression estimation using OLS estimator as well as co- integration regression estimation using JOHANSEN test.The findings of econometrics methods) Johansen test & VAR model (show that inflation has a positive and meaningful relationship with variables of TEHRAN STOCK EXCHANGE in the long run, and its growth will lead to an increase in the return and growth of stock market transactions. Although since june2003, the investment in stock market has not been a protection against inflation, stocks would have been a protection against inflation before this.for investigating the relationship between money market and capital market when The interest rate of one-year bank deposits was used, it showed a reverse meaningful relationship proving that an increase in bank interest rate through drawing investments results in a reduction in the return and stock transactions volume. So these two markets can be considered as two competing and supplementary markets in the long run. But when the return rate of the bonds was used as a demonstrator of the money market, a positive meaningful relationship was achieved which shows that the bonds are not the competitor investing chance for stock and the increase in its return rate has no negative effects on the stock market. As far as the relationship between gold return and return and growth of stock transactions volume is concerned, the results of VECTOR-ERROR CORRECTION MODEL show that gold market could be a substitute for stock market in a short term and gold return plays an important role in explaning the stock market trend in the short run, while this relationship is not meaningful in the long run.

Cites

References

Cite

APA: Copy

MASHAYAKH, SHAHNAZ, & HAJI MORAD KHANI, HADISE. (2010). THE EXAMINATION OF RELATIONSHIP BETWEEN INFLATION RATE, INTEREST RATE AND GOLD RETURN WITH IRAN STOCK MARKET. JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH), 1(4), 130-147. SID. https://sid.ir/paper/157322/en

Vancouver: Copy

MASHAYAKH SHAHNAZ, HAJI MORAD KHANI HADISE. THE EXAMINATION OF RELATIONSHIP BETWEEN INFLATION RATE, INTEREST RATE AND GOLD RETURN WITH IRAN STOCK MARKET. JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH)[Internet]. 2010;1(4):130-147. Available from: https://sid.ir/paper/157322/en

IEEE: Copy

SHAHNAZ MASHAYAKH, and HADISE HAJI MORAD KHANI, “THE EXAMINATION OF RELATIONSHIP BETWEEN INFLATION RATE, INTEREST RATE AND GOLD RETURN WITH IRAN STOCK MARKET,” JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH), vol. 1, no. 4, pp. 130–147, 2010, [Online]. Available: https://sid.ir/paper/157322/en

Related Journal Papers