scholarly journals SIGNIFICANT RELATIONSHIP INTELLECTUAL CAPITAL AND MACRO ECONOMICS: A CASE STUDY

2020 ◽  
Vol 8 (4) ◽  
pp. 112-118
Author(s):  
Ahmad Subagyo ◽  
Siti Zulaikha Wulandari ◽  
Desmadi Saharuddin
Keyword(s):  
Regression Model ◽  
Intellectual Capital ◽  
Price Index ◽  
Stock Exchange ◽  
Consumer Price Index ◽  
Economic Variable ◽  
Producer Price ◽  
Macroeconomic Variables ◽  
Log Linear ◽  
The Relationship

This paper aims to investigate the relationship between intellectual capital of several companies in Indonesia and macroeconomic variables Indonesia during the period 2011-2017 at 61 companies listed on the Stock Exchange. In this study using several intellectual capital variables in 61 companies and some Indonesian macro-economic variables are intellectual capital variable, Indonesian bank interest rate, consumer price index, producer price index, exchange rate index, inflation. This paper uses multiple regression data analysis techniques with OLS proposal model, linear difference and log analysis. From the results of studies that have been done can be explained that with the OLS regression model the relationship between several variable intellectual capital with some macroeconomic variables partially and simultaneously significant, as well as the difference. With log linear regression model analysis relationship between several variable intellectual capital with some macro economic variable simultaneously significant and partially between some variable intellectual capital significant and not significant partially with macro economic variable.

INVESTIGATING RELATIONSHIP BETWEEN CONSUMER PRICE INDEX AND PRODUCER PRICE INDEX AND DIVIDEND PER SHARE

2012 ◽  
Vol 01 (07) ◽  
pp. 121-128
Author(s):  
Mohammad javad Sheikh ◽  
Mohsen Nazem Bokaei ◽  
Hadi Alijani ◽  
Mohammad Saadatmand ◽  
Sayed Mojtaba Hosseini Fard ◽  
...  
Keyword(s):  
Performance Evaluation ◽  
Price Index ◽  
Stock Exchange ◽  
Pearson Correlation ◽  
Consumer Price Index ◽  
Inverse Correlation ◽  
Producer Price ◽  
Producer Price Index ◽  
Causality Tests ◽  
The Relationship

Managers of economic institutions should possess some criteria in the stock exchange so that they can evaluate their performance and economic plans. Criteria for performance evaluation accounting can be used for evaluating performance and economic plans. One of the main criteria for performance evaluation accounting is reported accounting profit or dividends. This criterion is one of the main indexes for evaluating managers’ performance, and it is also a main criterion for decision-making on approval or rejection of economic plans. This index is influenced by different factors such as price index, especially consumer price index and producer price index. In this paper, relationship between producer price index and consumer price index is investigated in accepted firms in Tehran stock exchange. Dicky- Fuller Test is used for time series reliability and Pearson correlation coefficient and Granger-causality tests are used for investigating the relationship between variables. Finally, it was concluded that consumer price index has an inverse correlation with dividend per share (first hypothesis), and producer price index has a direct correlation with dividend per share (second hypothesis).

The relationship between intellectual capital and financial statements readability: the role of management characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahdi Salehi ◽  
Hassan Mohammadzadeh Moghadam ◽  
Zohreh Hajiha
Keyword(s):  
Regression Model ◽  
Intellectual Capital ◽  
Fixed Effects ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Financial Statements ◽  
Multiple Regression Model ◽  
Content Type ◽  
The Relationship

Purpose The present study aims to investigate the relationship between intellectual capital and the readability of financial statements with the mediating role of management characteristics of companies listed on the Tehran Stock Exchange. In other words, this research tries to find the answer to whether intellectual capital can positively affect the readability of financial statements. Design/methodology/approach A multivariate regression model was used to test the hypotheses for this purpose. The research hypotheses were tested using a sample of 1,309 observations listed on the Tehran Stock Exchange from 2012 to 2018 and a multiple regression model based on panel data and fixed-effects models. Findings The results indicate that intellectual capital has a positive and significant relationship with the readability of financial statements, which means that with increasing intellectual capital in companies, financial statements’ readability also increases. Based on the hypothesis test results, it has been determined that narcissism, accrual and real earnings management have a negative effect on the relationship between intellectual capital and the readability of financial statements. Originality/value Since the present study examines such an issue in emerging markets, it provides users, analysts and legal entities with useful information about management’s inherent and acquired characteristics that significantly impact the purchase of audit opinion. This study’s results also contribute to developing science and knowledge in this field and close the literature gap.

scholarly journals Impact of Macroeconomic Variables on Stock Markets: Evidence from Emerging Markets

2015 ◽  
Vol 8 (1) ◽  
pp. 195 ◽  
Author(s):  
Mahmoud Ramadan Barakat ◽  
Sara H. Elgazzar ◽  
Khaled M. Hanafy
Keyword(s):  
Stock Market ◽  
Causal Relationship ◽  
Emerging Economies ◽  
Price Index ◽  
Consumer Price Index ◽  
Macroeconomic Factors ◽  
Macroeconomic Variables ◽  
Market Index ◽  
The Relationship ◽  
Shed Light

<p>The key objective of this study is to shed light on the relationship between the stock market and macroeconomic factors in two emerging economies (Egypt and Tunisia) for the period from January 1998 to January 2014. Results indicated that there is a causal relationship in Egypt between market index and consumer price index (CPI), exchange rate, money supply, and interest rate. The same goes for Tunisia except for CPI, which had no causal relationship with the market index. Results also revealed that the four macroeconomic are co-integrated with the stock market in both countries.</p>

scholarly journals Causality Analysis of Producer Price Index (PPI) and Consumer Price Index (CPI) in Indonesia

2018 ◽  
Vol 7 (1) ◽  
pp. 60-77
Author(s):  
Debby Anggraeni ◽  
Tony Irawan
Keyword(s):  
Granger Causality ◽  
Price Index ◽  
Consumer Price Index ◽  
Jel Classification ◽  
Data Series ◽  
Causality Analysis ◽  
Producer Price ◽  
Producer Price Index ◽  
Bidirectional Relationship ◽  
The Relationship

This study aims to investigate the relationship between PPI inflation and CPI inflation in Indonesia both in general and for each group of commodity, and to identify whether PPI inflation can be a leading indicator for CPI inflation or vice versa. This study employs Granger causality based on VAR model for monthly data series from January 2010 until August 2016. The results show that there are unidirectional relationship between PPI inflation and CPI inflation generally, bidirectional relationship from PPI inflation to CPI inflation for foodstuffs group, unidirectional from CPI inflation to PPI inflation for clothing group, and no causality between PPI inflation and CPI inflation for processed food, beverage, cigarette, and tobacco group.Keywords: Granger causality, producer price index, consumer price index, VAR JEL classification: E31, C22

scholarly journals Measuring the Impact of Some Macroeconomic Variables on the Stock Price Index in the Iraq Stock Exchange for the period (2006-2015)

2019 ◽  
Vol 8 (4) ◽  
pp. 93
Author(s):  
Khalil Gh. Hassan ◽  
Wafaa Sabah
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Consumer Price Index ◽  
Macroeconomic Variables ◽  
Long Run ◽  
Negative Effect ◽  
Stock Price Index ◽  
The Impact

This study aims at measuring the impact of some macroeconomic variables on stock prices index in the Iraqi Stock Exchange (ISX) for the monthly data from January 2006 to December 2015 based on (121) observations using the ARDL model. Results indicated that the stock price index of Iraq Stock Exchange (ISX) and macroeconomic variables are co-integrated and a long-run relationship exists between them. The long-run coefficients suggested that the consumer price index (CPI) and money supply (M2) had a negative effect while the Interest-Rate-Current Account (Over Draft) (DR) had a positive effect on the stock prices index. However, the variable exchange rate (EX) did not show significant effect on the stock prices index

scholarly journals Causality Analysis of Producer Price Index (PPI) and Consumer Price Index (CPI) in Indonesia

2018 ◽  
Vol 7 (1) ◽  
pp. 60-77
Author(s):  
Debby Anggraeni ◽  
Tony Irawan
Keyword(s):  
Granger Causality ◽  
Price Index ◽  
Consumer Price Index ◽  
Jel Classification ◽  
Data Series ◽  
Causality Analysis ◽  
Producer Price ◽  
Producer Price Index ◽  
Bidirectional Relationship ◽  
The Relationship

This study aims to investigate the relationship between PPI inflation and CPI inflation in Indonesia both in general and for each group of commodity, and to identify whether PPI inflation can be a leading indicator for CPI inflation or vice versa. This study employs Granger causality based on VAR model for monthly data series from January 2010 until August 2016. The results show that there are unidirectional relationship between PPI inflation and CPI inflation generally, bidirectional relationship from PPI inflation to CPI inflation for foodstuffs group, unidirectional from CPI inflation to PPI inflation for clothing group, and no causality between PPI inflation and CPI inflation for processed food, beverage, cigarette, and tobacco group.Keywords: Granger causality, producer price index, consumer price index, VAR JEL classification: E31, C22

China’s Macroeconomic Fundamentals on Stock Market Volatility: Evidence from Shanghai and Hong Kong

2017 ◽  
Vol 20 (02) ◽  
pp. 1750014 ◽  
Author(s):  
Andy Wui Wing Cheng ◽  
Iris Wing Han Yip
Keyword(s):  
Hong Kong ◽  
Price Index ◽  
Consumer Price Index ◽  
Market Volatility ◽  
Mixed Data ◽  
Stock Market Volatility ◽  
Data Sampling ◽  
Producer Price ◽  
Macroeconomic Variables ◽  
Mixed Data Sampling

This paper examines the effect of Chinese macroeconomic variables, the industrial production growth rate, the producer price index, the 3-month short-term Shanghai Interbank Offer Rate and the consumer price index, on the volatility of the Shanghai and Hong Kong stock markets. We apply the generalized autoregressive conditional heteroskedastic mixed data sampling model for the study. Our empirical findings on various indexes and enterprises in the Shanghai and Hong Kong markets show that Chinese macroeconomic variables have a greater power to explain the volatility in Hong Kong than in Shanghai. They also contribute significantly to Hong Kong’s market volatility.

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