|
RELATIONSHIP BETWEEN STOCK MARKET INDICATORS AND FOREIGN PORTFOLIO INVESTMENT (FPI): EVIDENCE FROM PAKISTAN |
|---|---|
| รหัสดีโอไอ | |
| Creator | Zahirullah and Mumtaz Hussain Shah |
| Title | RELATIONSHIP BETWEEN STOCK MARKET INDICATORS AND FOREIGN PORTFOLIO INVESTMENT (FPI): EVIDENCE FROM PAKISTAN |
| Contributor | - |
| Publisher | TuEngr Group |
| Publication Year | 2562 |
| Journal Title | International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies |
| Journal Vol. | 10 |
| Journal No. | 17 |
| Page no. | 10A17E: 1-10 |
| Keyword | Foreign Portfolio Investment (FPI), Co-Integration, VECM, Pakistan Stock Exchange (PSX), Stock Market Returns. |
| URL Website | http://tuengr.com/Vol10_17.html |
| Website title | ITJEMAST V10(17) 2019 @ TuEngr.com |
| ISSN | 2228-9860 |
| Abstract | This research study is designed to study the relationship between stock market indicators and net foreign portfolio investment (NFPI). Long term and short term relationships of five stock market indicators namely stock market capitalization, market returns, market turnover, market risk and market indices with NFPI are analysed through co-integration and vector error correction models (VECM). Three co-integrated vectors are found to show long term relationships and three variables are found to have short term relationships. Similarly, past values have impact on the current values. Regression analysis displays the impact of stock market indicators on NFPI. The results demonstrate that all the stock market indicators have positive and significant impact on NFPI except the market risk which has a negative relation with NFPI. |
