Dependence of stock return in the Prague Stock Exchange on the oil price

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Dependence of stock return in the Prague Stock Exchange on the oil price

Popis výsledku v původním jazyce

The aim of this paper is to examine the effect of oil price development on the selected securities traded in the Prague Stock Exchange. Although, there are many studies, which examine the impact of oil price, most of these studies focused on Western markets or important and large emerging markets. The Czech Republic belongs rather to the marginal countries in terms of economic significance. Further, the PSE is characterized by several specific features. The applied models are based on the linear dependence between an equity risk premium and the systematic risk and the development of oil price. The influence of the oil price development is examined from two perspectives. First, the impact of oil prices was analyzed without any decomposition. Afterwards,the oil prices in USD and the exchange rate were examined separately. It was found out that the exchange rate has a more significant impact on the equity excess return than the price of oil.

Název v anglickém jazyce

Dependence of stock return in the Prague Stock Exchange on the oil price

Popis výsledku anglicky

The aim of this paper is to examine the effect of oil price development on the selected securities traded in the Prague Stock Exchange. Although, there are many studies, which examine the impact of oil price, most of these studies focused on Western markets or important and large emerging markets. The Czech Republic belongs rather to the marginal countries in terms of economic significance. Further, the PSE is characterized by several specific features. The applied models are based on the linear dependence between an equity risk premium and the systematic risk and the development of oil price. The influence of the oil price development is examined from two perspectives. First, the impact of oil prices was analyzed without any decomposition. Afterwards,the oil prices in USD and the exchange rate were examined separately. It was found out that the exchange rate has a more significant impact on the equity excess return than the price of oil.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2014

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 14th International Conference on Finance and Banking

ISBN

9788072489398

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

1-7

Název nakladatele

Silesian University

Místo vydání

Karviná

Místo konání akce

Ostrava

Datum konání akce

1. 1. 2013

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000345575000001