scholarly journals A study on economic factors affecting credit ratings of Indian companies

2019 ◽  
Vol 16 (2) ◽  
pp. 326-335
Author(s):  
Rajesh Mamilla ◽  
Mehul Mehta ◽  
Abhijay Shukla ◽  
Piyush Agarwal
Keyword(s):  
Exchange Rates ◽  
Crude Oil ◽  
Industrial Production ◽  
Credit Rating ◽  
Oil Price ◽  
Economic Factors ◽  
Crude Oil Price ◽  
Factors Affecting ◽  
Independent Variables ◽  
The Impact

The objective of the research carried out is to understand the impact of selected economic variables (such as Crude Oil Price, GDP, Industrial Production, Exchange Rates, and Inflation) on credit rating of Indian companies.The sample comprises of 120 rating observations during the period 2012–2016 for a total of 24 companies of India.Measurement of central tendency – descriptive statistics is used where credit rating is used as dependent variable and five economic factors viz. Crude Oil Price, GDP, Industrial Production, Exchange Rates, and Inflation as the independent variables. Results from the analysis indicate that the credit rating responds in both linear, as well as nonlinear manner, to selected economic factors. Economic factors such as GDP, Industrial Production, and Exchange Rates have a linear relationship to credit rating, whereas Crude Oil price and Inflation have a non-linear impact upon the credit rating.

scholarly journals Impact of Macro - Economic Factors on Indian Stock Market- A Research of BSE Sectoral Indices

2019 ◽  
Vol 8 (2S7) ◽  
pp. 597-602
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Crude Oil ◽  
Stock Prices ◽  
Gold Price ◽  
Oil Price ◽  
Economic Factors ◽  
Crude Oil Price ◽  
The Impact

Macro-Economic factors plays a major role in decision making. Evaluation of macroeconomic environment is required to examine the behaviour of stock prices, which further influences the investor’s investment behaviour. Even though some macro-economic factors are not directly related to the company or industry, but those factors has an impact on stock prices, further economic activity in the domestic and global level has its own impact on stock market. When economy of the country grows hastily, it leads to faster growth in the industry and vice versa. Financial market plays a central role in the performance of financial system of an economy. Stock market is a market where securities of listed companies are exchanged between different investors, it is very responsive market which, gives a stage to investors to invest their money in various securities. Market indices are the tools to measure the performance of various securities of stock market and Investors make use of those market indices to analyse performance of those industries in which, they prefer to invest. This study takes into account six macro-economic factors (Crude oil Price, Gold Price, Silver Price, Exchange Rate, Inflation and Interest Rate) to study & analyse the impact of these variables on selected sectoral indices at BSE, SENSEX, S&P BSE BANKEX, S&P BSE Oil and Gas, S&P BSE Capital Goods, S&P BSE Consumer Durables, S&P BSE Reality, S&P BSE PSU and S&P BSE Power. The study shows that gold price, exchange rate, consumer price index and interest rate are positively correlated with four indices but crude oil price and silver price have positively correlated with 3 indices. So from the result it is clear that investor need to take of all the variables for their investment decision and the investment banker also take care of these indicators before giving suggestion to their clients

scholarly journals PENGARUH NILAI TUKAR DAN HARGA MINYAK MENTAH DUNIA TERHADAP RETURN SAHAM PT. INDOMOBIL SUKSES INTERNASIONAL TBK. DAN PT. ASTRA INTERNASIONAL TBK. TAHUN 2006-2016

2017 ◽  
Vol 1 (2) ◽  
pp. 61
Author(s):  
Arif Fadlilah ◽  
Sri Hermuningsih
Keyword(s):  
Exchange Rates ◽  
Crude Oil ◽  
Stock Prices ◽  
Stock Return ◽  
T Test ◽  
Oil Price ◽  
Crude Oils ◽  
Crude Oil Price ◽  
F Test ◽  
Crude Oil Prices

This research is meant to find out the influence of exchange rates and crude oil price either simultaneous or partial to the stock return at PT. Indomobil Sukses Internasional Tbk. and PT Astra Internasional Tbk. The data which is applied in this research is the automotive companies’ stock prices, Rupiah exchange rates, and crude oil price from 2006 to 2016. The multiple linear regressions are applied as the analysis technique by carrying out F test and t test. Based on the F test it is found that simultaneously the rupiah exchange rates and crude oil prices have influence to the stock return. Based on the t test it is found that partially the rupiah exchange rates have no influence to PT. Indomobil Sukses Internasional Tbk stock return but have influence to PT. Astra Internasional Tbk stock return and crude oils prices have influence to stock return. t test indicates the dominant influence to the stock return PT. Indomobil Sukses International Tbk is crude oils variable and stock return PT. Astra International Tbk is exchange rates variable

Impacts of Falling Crude Oil Prices and Reduction of Energy Subsidies on the Indian Economy: A CGE Modelling Approach

2016 ◽  
Vol 20 (4) ◽  
pp. 345-360
Author(s):  
Amrita Ganguly ◽  
Koushik Das
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Oil Price ◽  
Cash Transfer ◽  
Crude Oil Price ◽  
Transfer Scheme ◽  
Indian Economy ◽  
Cge Modelling ◽  
The Impact ◽  
Energy Subsidy

This study analyzes the impacts of international crude oil fluctuations and energy subsidy (on LPG, petrol and diesel) removals on Indian economy. We have applied computable general equilibrium (CGE) modelling as our relevant methodology, following Shoven and Whalley ( J Econ Lit XXII: 1007–1051, 1984) based on energy social accounting matrix (ESAM) of India for the year 2007–2008. It is seen that the international crude oil price fluctuations has a greater effect in determining gross domestic product (GDP) and exchange rate as compared to the effect of energy subsidy removal. With decrease in international crude oil price, GDP increases and exchange rate appreciates. On the other hand, with decrease in energy subsidy, GDP decreases and exchange rate appreciates. Moreover, with introduction of direct cash transfer scheme in lieu of subsidy for LPG, it is seen that the impact on demand of LPG (substitution effect) is negligible indicating that LPG is an essential commodity.

scholarly journals Impact of COVID-19 on Forecasting Stock Prices: An Integration of Stationary Wavelet Transform and Bidirectional Long Short-Term Memory

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-12 ◽  
Author(s):  
Daniel Štifanić ◽  
Jelena Musulin ◽  
Adrijana Miočević ◽  
Sandi Baressi Šegota ◽  
Roman Šubić ◽  
...  
Keyword(s):  
Crude Oil ◽  
Stock Prices ◽  
Short Term Memory ◽  
Oil Price ◽  
Stationary Wavelet Transform ◽  
Crude Oil Price ◽  
Short Term ◽  
Term Memory ◽  
Long Short Term Memory ◽  
The Impact

COVID-19 is an infectious disease that mostly affects the respiratory system. At the time of this research being performed, there were more than 1.4 million cases of COVID-19, and one of the biggest anxieties is not just our health, but our livelihoods, too. In this research, authors investigate the impact of COVID-19 on the global economy, more specifically, the impact of COVID-19 on the financial movement of Crude Oil price and three US stock indexes: DJI, S&P 500, and NASDAQ Composite. The proposed system for predicting commodity and stock prices integrates the stationary wavelet transform (SWT) and bidirectional long short-term memory (BDLSTM) networks. Firstly, SWT is used to decompose the data into approximation and detail coefficients. After decomposition, data of Crude Oil price and stock market indexes along with COVID-19 confirmed cases were used as input variables for future price movement forecasting. As a result, the proposed system BDLSTM + WT-ADA achieved satisfactory results in terms of five-day Crude Oil price forecast.

Protocol to Assess the Impact of Crude Oil Price Fluctuations on Future Asphalt Prices

2021 ◽  
pp. 036119812199207
Author(s):  
Kaylyn M. Cardinal ◽  
Mohamed Khalafalla ◽  
Jorge Rueda-Benavides
Keyword(s):  
Crude Oil ◽  
Price Index ◽  
Oil Price ◽  
Crude Oil Price ◽  
Statistical Process ◽  
Economic Implications ◽  
Price Fluctuations ◽  
Time Gap ◽  
The Impact ◽  
The Relationship

It is clear for the transportation industry that asphalt prices are heavily affected by changes in the crude oil market. This occurs because asphalt is a byproduct of the process of refining crude oil. However, there is still a lack of research on assessing the economic implications of this relationship. This paper assesses those implications through an innovative statistical process designed to quantify the economic correlation between asphalt and crude oil price fluctuations in Alabama. The proposed statistical process is used in this paper to model the relationship between the Alabama Department of Transportation’s (ALDOT’s) monthly asphalt price index and a national crude oil index published by the US Energy Information Administration. The process quantifies the relationship between these two commodities in relation to two metrics: (1) the time gap between an observed change in the crude oil index and its corresponding impact on the asphalt price index and (2) the magnitude of that impact. It was found that the most likely time gap between crude oil and asphalt price fluctuations in Alabama is 3 months, with a change ratio of 0.58. This means that a 1% increase in the price of crude oil would most likely affect the Alabama asphalt market 3 months later with a price increase of about 0.58%. Recognizing that these are just average values, the paper also presents a risk assessment tool that provides ALDOT with the probability of occurrence of different scenarios taking into consideration the observed variability in time gaps and change ratios.

The impact of rising international crude oil price on China's economy: an empirical analysis with CGE model

2007 ◽  
Vol 27 (4) ◽  
pp. 404 ◽  
Author(s):  
Ying Fan ◽  
Jian Ling Jiao ◽  
Qiao Mei Liang ◽  
Zhi Yong Han ◽  
Yi Ming Wei
Keyword(s):  
Crude Oil ◽  
Empirical Analysis ◽  
Oil Price ◽  
Cge Model ◽  
Crude Oil Price ◽  
The Impact ◽  
China’S Economy

scholarly journals Pengaruh Suku Bunga, Nilai Tukar Rupiah, Inflasi Dan Harga Minyak Dunia Terhadap Ihsg Di Bei

2019 ◽  
Vol 2 (3) ◽  
Author(s):  
Reagan Wijaya Sumitra
Keyword(s):  
Exchange Rates ◽  
Crude Oil ◽  
Interest Rates ◽  
Price Index ◽  
Secondary Data ◽  
Sampling Technique ◽  
Oil Price ◽  
Share Price ◽  
Crude Oil Price ◽  
Negative Effect

This research is to analyze the influence of macroeconomic towards composite share price index in Indonesia. This research is an explanatory research with quantitative paradigm. This research is using secondary data and the sample determined by full sampling technique based on time series date that has been accessed on official website of Bank Indonesia and finance yahoo year 2013 to 2017 which is consist of 60 samples. This research used multiple linier regression analysis. Based on classic assumption test, the datas in this research has been comply the assumption. Based on the multiple linier regression test, exchange rates and crude oil price has positive effect, whereas the inflation and interest rates has negative effect on composite share price index. Based on R2 test, 73,3 %  of composite share price index influenced by interest rates, exchange rates, inflation and crude oil price. Based on F test, macro economic factors simultantly influence composite share price index. Based on t test, interest rates and exchange rates has a significant effect on composite share price index, whereas the inflation and crude oil price did not have significant effect on composite share price index.

scholarly journals Industrial production index - crude oil price nexus: Russia, Kazakhstan and Azerbaijan

2020 ◽  
Vol 65 (227) ◽  
pp. 119-141
Author(s):  
Fatih Kaplan ◽  
Ayşe Ünal
Keyword(s):  
Crude Oil ◽  
Frequency Domain ◽  
Industrial Production ◽  
Oil Prices ◽  
Oil Price ◽  
Causality Analysis ◽  
Crude Oil Price ◽  
Causality Test ◽  
Production Index ◽  
Industrial Production Index

The study aims to examine the causality between industrial production index and crude oil price for Russia, Kazakhstan and Azerbaijan by using Frequency Domain Causality Analysis. For this purpose, the monthly data of the industrial production index and Brent oil price data over the period 1993-2019 are used. The Frequency Domain Causality Analysis suggests that the uni-directional causality relationship runs from oil prices to industrial production index is valid in the medium run for Russia and Azerbaijan and in the short run for Kazakhstan. However, there is no uni-directional causality linkage between oil prices and industrial production index in the long run for any of the countries. We hope to contribute to the literature by using frequency-domain causality test which examines the interrelation of crude oil prices on industrial production with the periodicity in these countries. The finding of this study is expected to serve as a tool for industrial production policy.

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