Macroeconomic factors and stock prices in the food and drink industry

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F19%3AA0000012" target="_blank" >RIV/47813059:19520/19:A0000012 - isvavai.cz</a>
Result on the web
<a href="https://www.emerald.com/insight/content/doi/10.1108/BFJ-12-2018-0839/full/html?skipTracking=true" target="_blank" >https://www.emerald.com/insight/content/doi/10.1108/BFJ-12-2018-0839/full/html?skipTracking=true</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1108/BFJ-12-2018-0839" target="_blank" >10.1108/BFJ-12-2018-0839</a>

Result language
angličtina
Original language name
Macroeconomic factors and stock prices in the food and drink industry
Original language description
The purpose of this paper is to estimate and evaluate the impact of macroeconomic fundamentals on stock prices of selected food and drink industry stocks during the period of 2005-2015, which saw the global financial crisis and its aftermath. he paper employed correlation analysis and the Johansen cointegration test with the vector error correction mechanism for EU companies operating in the food and drink industry. The paper tested the effects of GDP, inflation and interest rates (IR) on the stock prices of companies from Austria, Croatia, Cyprus, Denmark, Finland, Germany, Ireland, Italy, Lithuania, Poland, Spain and the UK. Based on the results, the authors can see that GDP has a generally positive effect on stock price development. In contrast, the relationship between stock prices and inflation and IR is negative in most cases. Despite the fact that a majority of empirical research on companies in the food and drink sector was performed using the microeconomic approach, this paper used the macroeconomic approach and clearly demonstrated the effects of selected macro-variables on stock prices in selected EU markets. Macroeconomic factors shape the company's performance and could potentially lead to persistent changes in supply and demand conditions in food and drink markets.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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