Macroeconomic factors and stock prices in the food and drink industry

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Macroeconomic factors and stock prices in the food and drink industry

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Macroeconomic factors and stock prices in the food and drink industry

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

British Food Journal

ISSN

0007-070X

e-ISSN

1758-4108

Svazek periodika

121

Číslo periodika v rámci svazku

7

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

15

Strana od-do

1627-1641

Kód UT WoS článku

000479272600014

EID výsledku v databázi Scopus

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