摘要:宏观经济对股票市场是否有影响?本文就此展开分析,主要研究的是研究股票市场与宏观经济变量之间的关系,研究不仅对政策制定者和投资者非常有用,但它也能测试股票市场的效率。
ugh out other researcher. This is because of secondary data can almost gathered faster and more inexpensively than primary data. It’s also just slightly different in term of period of time that has been chosen. Data are collected from published data sources but mostly are from:
Textbook and reference book
Textbook and reference book used in order to understand more deeply about the study. The textbook and reference book provide further deep explanation regarding the topic chosen such as the macroeconomic as well as the methodology of some formula for analysis.
Journals
The journals are the main sources of the research because it’s actually providing a lot of previous study that has been complete by other researcher. It also will help to do the literature reviews which provide the argument from the previous study. Most of the journals are being taken from finance and economic journal.
Website
Data also will be collected throughout the website. This is the technology that must be use 100% and easier to excess through relevant website to find out all supporting information regarding the topic.
3.2 Sampling Frame
This study used FTSE Bursa Malaysia KLCI: Property indices for acceptable result that comprise 88 property companies that represent the property sectors in the Malaysian economy.
3.3 Sources of Data
Data concerning on secondary data will be collected from property indices to proxy for Malaysian property stock market. For the independent variables we limit this study to selected macroeconomic variables which is interest rate (t-bills), GDP (IP), money supply (M3) as well as inflation (CPI). Our monthly data ranged is from 2000 until 2010.
3.4 Variable and measurement
The variables used in this study can be categorized into two main types which are the dependent and the independent variables.
3.4.1 Dependent Variable
The dependent variable in this research would be the stock performance of property stock in Malaysia which is will be monitor throughout property index in Malaysia.
3.4.2 Independent Variables
For the independent variable four variable will be choose and be measure. There are interest rate (t-bills), GDP (IP), money supply (M3), interest rate and inflation (CPI). All of this will be collected in monthly basis.
3.5 Research Design
This research is designed to explore the relationship between dependent and independent variables. In this study, it engages in hypotheses testing that will explain the certain significant correlations between property stock market performance and macroeconomic variables
3.5.1 Purpose of the study
In order to understand more about Malaysian stock market behavior this research want to determine the relationship between Malaysian property stock market and macroeconomic variables such as interest rate (t-bills), GDP (IP), money supply (M3) as well as inflation (CPI).
3.5.2 Types of investigation
This research involved the correlation types of investigation in order to understand the relationship between the dependent and independent variables. In this study, all the economic variables will be investigated to determine the existing relationship with property stock index.
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