Розширена анотація українською мовою

Сучасні дослідження щодо питань оцінки ефективності фондового ринку ґрунтуються на постулатах теорій ціноутворення активів, макроекономічних та мікроекономічних варіацій та інституційних диспропорцій. При цьому недостатньо вивченими залишаються аспекти взаємозв’язку показників роботи фондового ринку з факторами розвитку компаній на макрорівні, макроекономічними важелями та факторами розвитку галузі, в якій працюють компанії. Мета даної статті полягає у визначенні пулу факторів, які впливають на ефективність фондового ринку. Об’єктом дослідження в межах поставленої проблеми стали вторинні дані з фінансової звітності 80 компаній нефінансового сектору економіки за період з 2004 по 2015 рік. Методичне забезпечення дослідження представлене інструментарієм множинної регресії. Результати проведеного аналізу засвідчили, що такі фактори, як розмір компанії та індекс Херфінда́ля-Хіршмана обернено взаємопов’язані з фінансовими показниками ефективності фондового ринку, при цьому індикатори зростання обсягів капіталу компаній, ВВП, обмінний курс, пропозиція грошей та ціни на нафту мають позитивний вплив на фінансові показники. Результати цього дослідження можуть допомогти фірмам та індивідуальним інвесторам краще зрозуміти фактори, які впливають на ціни акцій, дозволяючи їм краще оцінити свої варіанти інвестування. Інші фінансові установи можуть надавати кращі поради та продукти інвесторам, які шукають фінансування для купівлі акцій. Результати дослідження можуть бути корисними для формулювання та реалізації політики, пов’язаної з ціноутворенням акцій, а також регулювання біржової торгівлі. Уряд також буде проінформований про те, як розробити політику, правила та положення щодо правил торгівлі, які допоможуть захистити інвесторів, заохочувати інвестиції та стимулювати економічне зростання.

Ключові слова: ефективність фондового ринку, індекс Херфінда́ля-Хіршмана, ВВП, зростання.

Класифікація JEL: G01, G15.

Цитувати як: Naseer, M.M., Guo, Y., Zhu, X. (2022). Stock Performance, Sector’s Nature and Macroeconomic Environment. Financial Markets, Institutions and Risks, 6(1), 13-26. https://doi.org/10.21272/fmir.6(1).13-26.2022

Ця стаття публікуються за ліцензією Creative Commons Attribution International License

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