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questions that has been developed regarding the problem statement occurred. These research questions are:

Does the GDP growth has an effect towards property stock market return

Does the inflation has an effect towards property stock market return

Does the money supply has an effect towards property stock market return

Doe the interest rate has an effect towards property stock market return

Research Objective

The objectives of this study would be:

To investigate the effect between GDP growth and property stock market return.

To investigate the effect between inflation and property stock market return.

To investigate the effect between money supply and property stock market return.

To investigate the effect between interest rate and property stock market return.

Significant of Study

Property stock

This study could provide some useful information and investor also will be able to understand the situation of their companies and how to deal with all the variables that had affected the return of property stock.

Researcher

This research also acts as a reference for other researchers and consultants to further their research. Furthermore, it can help these companies to understand the situation better and to overcome this situation.

Government

This study also can help the government to realize the effect of macroeconomic crisis to property stock in Malaysia.

Scope of the Study

The purpose of this study is to determine whether the returns of the property stock market are related to the current economic activities in Malaysia. In order to explain, this study will using the property index as a stock market indicator and four relevant macroeconomic variables that may come from interest rate, GDP growth, money supply and inflation. To evaluate the effect between macroeconomic and property stock market multiple linear regression method will be use which comprise data from the year of 2000-2010 in monthly basis.

Limitation of study

In order to complete the study several limitation occurred which is brought some challenge to deal with along the process.

Time horizon

This study is conducted in a limited period where the data is only comprised from 2000-2010. It would give the different result if it done with the longer time horizon lets says data collected comprise of 30 years.

Availability of the data collects

Most of the previous study using different model and approach, also some information about property stock and macroeconomic are not easily available. Beside some journal available is not latest published.

Definition of terms

1.8.1 Property stock market index

In Malaysia overall performance of stock market can be measure from FTSE Bursa Malaysian KLCI. In this research property stock market index will be use which is comprised of performance of property stock in Malaysia.

1.8.2 Macroeconomic Variables

Macroeconomic are chosen instead of microeconomic because this research want to know the external impact towards property stock market. This study used four economic variables which is interest rate, GDP grow