文章基本信息

标题：Do investors consider composite leading indicators? Time series evidence from emerging countries
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作者：Topcu, Mert ; Unlu, Ulas
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2013
卷号：XX
期号：9(586)
页码：51-62
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：The nexus between macroeconomic indicators and stock market has been worthy of examination in emerging markets in the recent years. This paper therefore aims to investigate the long run and causal relationship between Composite Leading Indicators (CLI) and share prices in the thirteen emerging markets. Findings obtained from the analyses do not provide consistent results across all emerging markets. Empirical evidences of this study indicate that component structure of CLI and financial development level of questioned countries appears to play important role in determining the effectiveness of CLI in investors’ decisions.
关键词：share prices; composite leading indicators; emerging markets.