Event Title

The Importance of Macroeconomic Factors in the Equity Price Changes: The Case of Balkan Countries and Turkey

Session

Management, Business and Economics

Description

Efficient stock prices enable channelizing the unutilized financial recourses from economic entities with excess of funds to those in need of investments. The study explores the impact of macroeconomic indicators on the price changes of the major Balkan equity indexes and Turkey. Monthly data on the following equity indexes were selected to analyze the outcomes of the work, such Istanbul Stock Exchange (BIST100 index), Bucharest Stock Exchange (SE BET index), Ljubljana Stock Exchange (SBI TOP index), Bulgarian Stock Exchange (SOFIX index), Zagreb Stock Exchange (CROBEX index), Belgrade Stock Exchange (BEL EXL index), Macedonian Stock Exchange (MBI 10). The results indicate that macroeconomic factors play a significant role in most of the selected equity exchanges. From a managerial perspective, the work delivers signals for the investors on the possibilities of diversifying their portfolio in the Balkan and Turkish stock exchanges. Governments by recognizing the financial literacy in these countries can provide policies to improve the efficiency of these exchanges.

Keywords:

stock markets, macroeconomic factors, efficiency level, Balkan countries

Session Chair

Edmond Hajrizi

Session Co-Chair

Naim Preniqi

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-96-7

Location

Lipjan, Kosovo

Start Date

31-10-2020 9:00 AM

End Date

31-10-2020 10:30 AM

DOI

10.33107/ubt-ic.2020.326

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The Importance of Macroeconomic Factors in the Equity Price Changes: The Case of Balkan Countries and Turkey

Lipjan, Kosovo

Efficient stock prices enable channelizing the unutilized financial recourses from economic entities with excess of funds to those in need of investments. The study explores the impact of macroeconomic indicators on the price changes of the major Balkan equity indexes and Turkey. Monthly data on the following equity indexes were selected to analyze the outcomes of the work, such Istanbul Stock Exchange (BIST100 index), Bucharest Stock Exchange (SE BET index), Ljubljana Stock Exchange (SBI TOP index), Bulgarian Stock Exchange (SOFIX index), Zagreb Stock Exchange (CROBEX index), Belgrade Stock Exchange (BEL EXL index), Macedonian Stock Exchange (MBI 10). The results indicate that macroeconomic factors play a significant role in most of the selected equity exchanges. From a managerial perspective, the work delivers signals for the investors on the possibilities of diversifying their portfolio in the Balkan and Turkish stock exchanges. Governments by recognizing the financial literacy in these countries can provide policies to improve the efficiency of these exchanges.