Cover Image

The relationship between the money market rates and the common stock returns: the Malaysian experience

The relationship between monetary developments and common stock returns has been the focus of a considerable amount of research in recent years. This paper addresses the relationship between the money market rates and the common stock returns in Malaysia. Statistical analyses were conducted to provi...

Full description

Saved in:
Bibliographic Details
Main Author: Noor Azlan Ghazali,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 1992
Online Access:http://journalarticle.ukm.my/7945/1/1609-3037-1-SM.pdf
http://journalarticle.ukm.my/7945/
http://ejournals.ukm.my/pengurusan/issue/view/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-ukm.journal.7945
record_format eprints
spelling my-ukm.journal.79452016-12-14T06:45:43Z http://journalarticle.ukm.my/7945/ The relationship between the money market rates and the common stock returns: the Malaysian experience Noor Azlan Ghazali, The relationship between monetary developments and common stock returns has been the focus of a considerable amount of research in recent years. This paper addresses the relationship between the money market rates and the common stock returns in Malaysia. Statistical analyses were conducted to provide empirical linkage between the two market; i.e., money market and capital market. The results indicated that no significant relationship exist between money market rates movement and common stock returns. However, the inverse relationship between the two variables was traced in the Malaysian market. Among all money market rates, the interbank rates offer some predictive power as it is commonly used as liquidity barometer in the Malaysian inancial market. This study also found evidence of disintermediation, i.e., outlow offud from the banking sector into direct capital market due to changing level of interest rate. Penerbit Universiti Kebangsaan Malaysia 1992 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7945/1/1609-3037-1-SM.pdf Noor Azlan Ghazali, (1992) The relationship between the money market rates and the common stock returns: the Malaysian experience. Jurnal Pengurusan, 11 . pp. 3-13. ISSN 0127-2713 http://ejournals.ukm.my/pengurusan/issue/view/
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description The relationship between monetary developments and common stock returns has been the focus of a considerable amount of research in recent years. This paper addresses the relationship between the money market rates and the common stock returns in Malaysia. Statistical analyses were conducted to provide empirical linkage between the two market; i.e., money market and capital market. The results indicated that no significant relationship exist between money market rates movement and common stock returns. However, the inverse relationship between the two variables was traced in the Malaysian market. Among all money market rates, the interbank rates offer some predictive power as it is commonly used as liquidity barometer in the Malaysian inancial market. This study also found evidence of disintermediation, i.e., outlow offud from the banking sector into direct capital market due to changing level of interest rate.
format Article
author Noor Azlan Ghazali,
spellingShingle Noor Azlan Ghazali,
The relationship between the money market rates and the common stock returns: the Malaysian experience
author_facet Noor Azlan Ghazali,
author_sort Noor Azlan Ghazali,
title The relationship between the money market rates and the common stock returns: the Malaysian experience
title_short The relationship between the money market rates and the common stock returns: the Malaysian experience
title_full The relationship between the money market rates and the common stock returns: the Malaysian experience
title_fullStr The relationship between the money market rates and the common stock returns: the Malaysian experience
title_full_unstemmed The relationship between the money market rates and the common stock returns: the Malaysian experience
title_sort relationship between the money market rates and the common stock returns: the malaysian experience
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 1992
url http://journalarticle.ukm.my/7945/1/1609-3037-1-SM.pdf
http://journalarticle.ukm.my/7945/
http://ejournals.ukm.my/pengurusan/issue/view/
_version_ 1643737305811255296
score 13.211869

Similar Items