Impact of economic indicators on development of capital market

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dc.contributor.author Plachý, Rudolf
dc.contributor.author Rašovec, Tomáš
dc.contributor.other Ekonomická fakulta cs
dc.date.accessioned 2015-09-02
dc.date.available 2015-09-02
dc.identifier.issn 12123609
dc.identifier.uri https://dspace.tul.cz/handle/15240/13246
dc.description.abstract The capital market is one of the most important elements of any healthy, well-functioning economy. The volume and value of executed capital market transactions are affected not only by the number of issuers and investor’s willingness to buy, but also by economic development in the broadest sense. This article discusses the relationship between macroeconomic indicators and development of stock market index in different countries. It assesses the direction and intensity of relationships between macroeconomic indicators and stock market index and explains possible causes of these conditions. Analysis of the relationship is carried out in different countries with different levels of economic development, both in Europe and overseas. Emphasis was put on the selection of those countries, which were significantly affected by the economic recession. The indicators that affect value of stock market index were selected based on economic theory. Among them belong: gross domestic product, inflation, interest rate, export, and import and unemployment rate. After determining the degree of dependence between macroeconomic indicators and value of stock market index, countries were grouped together in clusters. Clustering was therefore not conducted on the basis of the values of macroeconomic indicators of a country, but on the basis of these indicators having a similar effect on the value of the stock market index. Before cluster analysis, input matrix of variables was subjected to factor analysis to reduce the original number of variables. en
dc.format text
dc.format.extent 101-112 s. cs
dc.language.iso en
dc.publisher Technická Univerzita v Liberci cs
dc.publisher Technical university of Liberec, Czech Republic en
dc.relation.ispartof Ekonomie a Management cs
dc.relation.ispartof Economics and Management en
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dc.rights CC BY-NC
dc.subject web usage mining en
dc.subject data en
dc.subject pre-processing en
dc.subject session identification en
dc.subject auxiliary pages en
dc.subject reference length en
dc.subject log files en
dc.subject business intelligence en
dc.subject data mining en
dc.subject.classification C38
dc.title Impact of economic indicators on development of capital market en
dc.type Article en
dc.date.defense 2015-09-04
dc.publisher.abbreviation TUL
dc.relation.isrefereed true
dc.identifier.doi 10.15240/tul/001/2015-3-010
dc.identifier.eissn 2336-5604
local.relation.volume 18
local.relation.issue 3
local.relation.abbreviation E&M en
local.relation.abbreviation E+M cs
local.faculty Faculty of Economics
local.citation.spage 101
local.citation.epage 112
local.access open
local.fulltext yes


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